FINANCE and COMMERCE

Dominion, Volume 26, Issue 103, 25 January 1933, Page 12

FINANCE and COMMERCE

STOCKS AND SHARES -/ Seven Transactions Recorded ’ACTIVITY IN BANKS’ GROUP For the first time this year sellers-of -Government loans outnumbered buyers on -the Wellington Stock Exchange yesterday. -Buying quotations, however, were firm on Saturday’s levels. Seven - sales were '.e--'/corded the business-written on change V-being confined to two sales of Gears. Buyers were offering £l/9/9, holders lowering i /their price by 1/- to affect sales at £l/10/-. Australia!! stocks, which gamed stren o tn '■'following the increase in the exchange; their new levels, ihe banks ’.'•section was active. -, . • ' ■ •I . WELLINGTON EXCHANGE Yesterday’s Quotations Buying arid selling quotation's at yesfinal call on the A 5 ellington Exchange were as follow:— z N.Z. GOVT. XOANS. t Buyers. Sellers. ’£sd £ s d

DEALINGS ON ’CHANGE Sales in the Dominion The following sales were recorded on 'the stock exchange of the Dominion yesterday :— WELLINGTON.

Peninsular and Oriental Stock London, Jan. 23. Peninsula and Oriental deferred shares fold to-day at 16/4J. . AUCTION DIARY TO-DAY. ’ 78 Lambton Quay, 1.30 p.m.—Antique furniture (Kingsway, Ltd.) Johnsonville Fat Stock Sale. 1 p.m. (W.S. and Co., A. and W., Ltd.) 78 Lambton Quay, 1.30-p.m.—Antique furniture, etc. (Kingsway, Ltd.) Cpba St., 10.30 a.m.—Contents of the AdelI phi Cabaret (Ramsey Wilson.) Cuba St., 1.30 p.m.—&Furuiture (Silverstone). 50 Victoria St.. 1 p.m.—Drapery and ClothI ing (Alf. Jones). Clermont. Terrace, 10.30 a.m.—Furniture (C. W. Price). TO-MORROW. Walkaiiac item Fair, 12 noon (N.Z. Loan and Mercantile, Dalgcty and Co.) Model Store, Greytowu. 1.30 p.m.—Sell stock-in-trade, Suueul Wall, grocer, deceased.—(Mark Maxton and Co.)

■ LONDON WOOL SALES Competition at Full Late Rates BRADFORD MARKET QUIET London, Jan. 23. At the wool sales, 10,160 bales were offered, including 3821 New Zealand, and approximately 6100 sold. There was keen Home and Continental competition at full.late rates. Greasy New Zealand crossbreds: Owetea, 9}<l to 8d ; Seafunf, 8d to 5 Id. The Bradford market is quiet and unchanged. Levin and Co., Ltd, have received the following cable from their London agents, dated January 23: —The auctions are proceeding at the level of the opening day, and catalogues are being well cleared. As at present arranged, the sales will close on February 8: —The following prices are current: —Merino, super, lljtl to 12}d per lb ; average, 9}d to JOld. Fine halfbred, super, 56/58’s, 11-Jd. to 12d; average, 10}d to lid; medium, super,. 50/56’s, 91d to 10}d; average, Sid to 94d; coarse, super. 48/50’s. 74d to Sd ; average, 6d to Gid; fine crossbred, super, 46/48’s, 6}d to 7}d: average, 51d to 6d; medium, super, 44/46’s, Gd to Gid ; average, s}d to 5Jd; coarse, super, 40/44’s, s}d to Gd; average, 5d to s}d; low, super, 36/40’s, s}d to Gd ; average, 43<1 to s}d ; Pieces, 4}<l to aid. Bellies. 4d to lid. Locks, 2d to 3d. The Bank of New Zealand, Produce Department, has received the following advice from its London Office, under date January 21 :—Current values are as follows:—Merino, super. 60/64’s. 11d _to 12d per lb; ordinary. BJd to 94<1; inferior, Tjd to 7|d. I-lalfbreds. 56’s, 101(1 . to Hid : 50/56’s. i Sd to 9d. Crossbreds. 50’s, 6}d to 7d ; 48/50’s, 52(1 to Gid ; 46/ 48’s, s}d to Gd ; 44/46’s, 5Jd to s}d ; 40/ 44’s, 5d to s}d ; 36/40’s, 5d to s}d. / . Animated Competition at Sydney (Received Jan. 24. 9.50 p.m.). Sydney, Jan. 24. At the wool sales, 9975 bales wer.e. offered. of which 9701 were sold by auction, and also 456 bales were disposed of privately. Under keen and animated competition, the market ruled firm at yesterday’s level. Greasy Merino fleece sold to’lBd. FOREIGN EXCHANGES Latest Quotations Compared London, Jan, 23. The following rates on foreign exchanges were current to-day, compared with those ruling on January 22: —

GOLD AND SILVER. London, Jan. 23. ■ Silver.—Cash, 16 15-16d’ per ounce; forward. 17d. Gold.—£6/2,T per fine ounce. SUBSIDIES ON SHIPPING Statement by Lord Craigavon London, Jan. 24. Discussing shipping.subsidies at a meeting at Belfast, Lord Craigavon, Prime Minister of Northern Ireland, said that every first-class ship launched front .British shipyards incidentally made obsolete a' large amount of tonnage laid up tn British. harbours, and the consequence of an economic vessel leaving the stocks was to make worthless many vessels uow laid up. and which would liever “up anchor” again. _ . When Continental countries dicovercd the futility of massed endowments of their shipping fleets and much of the laid-up tonnage was scrapped, then Belfast would find orders ■coming to'.it.. If,.these were less than in former years. yet ; they would be sufficient to absorb.the shipbuilders now unemployed, but having the /desire and the capacity to turn out the best vessels that ever sailed the seven seas. FROZEN MEAT TRADE Adjustments in Export Schedule Adjustments in the meat export schedule as a result of the increase in exchange were finalised yesterday and prices in the Wellington district will be as follow, those ruling before,tlie change in the,rate of exchange being given for purposes of comparison':— •

AUSTRALIAN BONDS Sales on Wall Street Compared New York. Jan. 23. Sales of Australian Government bonds on Wall Street to-day compare with those of January 17 as follow:—

Jan. 17. Jan. 23. Dois. Dois. Commonwealth—--5 p.e. Jan.-July, 1955 . 77J 77 5 p.c. Mar.-Sept, 1957 . 77 76J 44 p.e. May-Nov, 1956 72} 714 New South Wales—--5 p.c. Feb.-Aug, 1957 . 74 — 5 p.c. Apl.-Oct, 1958 .. — 73 Queensland — 7 p.c. Apl.-Oct, 1942 .. 9G} 96} 6 p.c. Feb.-Aug, 1947 , 83 —

f" 4+ p.c. Bonds,-lOSS ?5 ? z 41 p.c. ditto, 193S .... 9o a 0 0 96 0 0 MI p.c. ditto, Feb., 1937 - 102 0 0 A54 b.c. ditto, Sep.. 1937 — 101 15 0 cMl p.c. Stock. 1939 .... 9,j 0 0 p.c. ditto. 193S .... 9d o 0 95 15 51 p.c. ditto, 1936 .... — ■ ’ Jif p.c. ditto, Feb., 193i 101 0 0 101 101 15 10 0 0 .T'-.i p.e. ditto. Sep.. 1937 101 0 0 101 7 6 ; 5j p.c. ditto. 1937 .... 9b 0 0 97 0 0 •>; debentures. ; Wgtn. Harb. Bd.. 5} p.c.. ' 1940 100 0 . 0 — BANKS. •7 Australasia \. .0 10 0 10 10 fl Commer. of Aust., ord. *0 lo o 0 lo 7 •<. E.S. and A 4,9 0 — ft National of N.Z. 3 , o 0 — - Nat. of Australasia, £10 paid 11 10 0 Ditto. £5 paid 5 10 0 G 0 0 New South Wales — 30 0 0 0 4 0 ■ Union . A............... *7 14 0 8 2 0 FINANCIAL. Equitable Building .... — o 0 0 Goldsbrough. Mort — 1 4 9 N.Z. Guar. Corpu.. ord. 0 4 3 — GAS. Wellington, ord *1 9 6 1 10 0 INSURANCE. 11 0 14 9 0 0 0 South British 2 17 0 — MEAT. 9 1 11 0 N.Z. iiefrig., 10/- paid .. 0 3 10 — TRANSPORT. Huddart. Parker, pref. 1 1 0 — Union Steam, pref 1 0 0 — TIMBER. Bartholomew. — 0 10 0 1 0 0 BREWERIES. N.Z. Breweries — 1 8 G fl - MISCELLANEOUS. British Tobacco, ord. . 1 11 9 — Burns, Philp — o 7 0 Colonial Sugar 52, 5 0 53 0 0 Dunlop Perilriau 0 17 0 — Electro. Zinc. pref. .... 1 8 0 1 9 0 Ditto, ord . 0 18 0 National Electric ...... — 0 10 0 N.Z. Drug 2 l.i 9 —— Sharland and Co., prof. 0 19 0 ——- Wilson’s Cement 17 9 1 8 0 OIL. Moturoa 0 4 6 MINING. King Solomon 0 2 0 Mount Lyell 1 T 0 1 1 9 < ’karito 0 8 10 o 9 0 Paddy’s Point 0 5 0 Waihi 1 1 3 1 j 11 M’alhi Grand Junction 0 <3 6 • 0 4 0 Big River' — 0 1 6 Gillespie’s Beach 0 0 10 —— Kawarau 0 0 4 •Cum. dividend.

Gear .Meat (2) ■ £ s <1 . 1 10 0 Sales, reported l-'.S. and A. Bank .. 4 12 0 Bank of New Zealand .. 2 3 6 Wellington Gas. ord. .. 1 9 G Kaitangata- Goal . 0 17 0. Wilsons Cement .... .. 1 8 AUCKLAND. Govt, bonds, 4j- p.c.. 1938 '.Usd 95 10 0 Com. Bank, pref. 7 19 0 ID, and. A. Bank 4 12 0 ■ Bank ,of New Zealand 2. 3 6. 1 uion Bank 7 17 6 Kiiuri Timber ... . (J 12 6 Colonial Sujcar (2) ............ Australian Glass . 2 5 0 Donaghy’s Rope and Twine (3) 1 10 6 N.Z., Paper Mills 1 13 N.Z. Itefrig., 10/..paid 0 4 0 Wilsons Cement 17 6 Ditto ISO Nokomai 0 >5 9 W'aihi Junction ................ 0 3 6 N.Z. '• Insurance ............... 2 5 0 Ditto i ; .. ,'.i .’.li. •249 Gear, Meat ■ ■ 110 0 ' ' / / CHRISTCHURCH. Inscr.' stock, 5} p.c.. Feb., 1937 .£ s , d 101 5 O' Comm. Bank of. Aust. (3'1 ...... . 0 15 5 .National Bank of N.Z 3 7 6 : Baok of New Zealand .......... 2 3 6 Ditto ■ 2 3 0 . 1 4 3 Goldsbrough, Mort Ditto 14 4 ■ ' Ditto.(1) .: 14 3 N.Z. Refrig., 10/- paid 0 4 O' British Tobacco ’ 1 12 ’ 3 ■ Ditto (2) ......... 1 12 2 Colonial-Sugar 52 5 0 Mt. Dy ell 114' Nokomai (3) 0 5 9 0 5 9 Ditto Okgrito ... . 0 8 11 M aihi ... .1-16 Sales reported— Inscr. stock, 41 p.c., 193S 95 15 0 Ditto, o pie.; Feb., 1937 ..... 101 5 6 „ Ditto, 51 p.e., Sept., 11)37 (2) 101 5 0 Com. Bk. of Aust., pref., cum div. 8 O O Ditto’ 7 19 0 • N.Z. Breweries • 1 7 «. 1 7 G Electro Zinc, pref DUNEDIN. Consolidated Goldfields ... £ s <1 0 9 3 Sales reported— N.Z. Refrig., cont ♦0 4 0 N.Z. .Paper -Mills 1 1 3 . • Ditto 1 1 7| 0 8 10 Okarito ,(2) .. Nokoth.il Bank'of New Zealand * Electro Zinc, pref 17 8 Kauri Timber 0 12 10 Gillespie’s Beach ■. •Bate sale Monday. 00 11

Jan. 23. Jan. 22. Par. N. York, del. to £ ■; 7 3.35} 4.866 Montreal, dol. to £ 3.874 3.84 4.866 Brussels, bel. to £ 24.24} 24 7-33 35.00 Paris, fr. to £ S61-S 86 124.21 Geneva, fr. to £ Amst’dam, fl. to £ 17.40 17.39 J 8.35* 25.225 8.37* 12.107 Milan, lire to . £ 65 7-8 G55-S 92.40 Berlin, mks. to £ 14.15 141-8 20.43 St’liolm, knr. to £ 18.35* IS 11-32 18.150 C'liagen. knr. io £ 19.00 19.37J 18.159 Oslo, knr. to £ 10.5 19 15-16 18.150 Vienna, schgs. to £ ‘20 ‘29 34.585 Prague,' knr. to £\ 113.5 113 3-8 164.25 Hel'fors, inks, to £ 226 227 193.23 Madrid, pes. to £ Lisibon, esc. to £ 411-8 110 41 1-32 110 11 o" Athens, drach. to £ 600 602} 375 Belgrade, din, to £ 250 —— 276.31 Bucharest, lei. to £ 570 567 i 813.60 Bio de J., p. to mil. ‘5 3-8 ‘5 3-8 5.890 B. Aires, p. to peso 42.5 42.5 47.62 M. Video, p. to peso ‘34 •34 51 Calcutta, p. to rup. 185-32 185-32 18 Shanghai, p. to tael H.-Kong, p. to dol. 20 3-16 20 3-16 —• 15 5-8 15 9-16 Y'hama, p. to yen Batavia, gl. to £ 1415-16 1415-16 24.582 8.35} —- 12.107 The South African' pound is quoted at £99/17/6 to £100/117/0 per £100 sterling.

New rate. Old rate Wethers— d d ' Under 4911) 2*?3} ■ . 49,11) to 5611) .. 34 , 571b to G41b •» 24 651b to 721b 't ’ * . 24 (Tver 721b *} 14 Ewe?— j Up to 4911) Q ’ n 491b to 561b 14 571b to 641b ... 1J.. l| 651b to 721b .1 Over 721b .. H 1 Lambs— Under 361b .. 5-1 • 44 361b to 421b .. 4} 34 Over 421b ■ 4 3 f Seconds .. .. 44 35