PRODUCE & MARKET REPORTS FROM DAY TO DAY

Evening Post, Volume CIV, Issue 73, 23 September 1927, Page 10

PRODUCE & MARKET REPORTS FROM DAY TO DAY

STOCKS AND SHARES

DRAGGING BUSINESS

"Evening Post," 23rd September. , "'-Business on the Stock Exchanges has -^dragged during the past week, and turner overs have been on a 6mall scale. How- ./•''. ever, the outlook is generally regarded as •■• good, for market prospects for the leading .'exports of the Dominion are decidedly ";,good. Some local industries may receive topre attention from investors by, reason dt assistance to be given to them under ;* !^he' revised tariff, but capital for local ',% manufacturing or industrial ventures gen- '"£■ erally has not been easily obtained for -i i-eonie time past. Broad acres, too, have lost their attractiveness. Since in so „. many instances interest has fallen greatly in arrears and some heavy writings down : have had to be made. But there should be more attention paid presently to the ; '.stack and share market, when returns from ' exported producel begin to come into the domestic circulation. The markets for all of them are very much brighter than at this .time last year, especially for butter and cheese, and the outlook for lamb and mutton is distinctly good. The wool market appears to be on a stable basis. That there is a very heavy loss of sheep in Australia seems now only too evident, although the estimates widely vary. ■ In the New Zealand, stock and sharemarket during the week there was a fair turnover, tmt it was not 6pread over the list. Interest in Government loans was far from keen, but a few of these securities, changed hands. There were sellers yesterday.''of'the 4% per cent, stock (1938 and 1939) at £96 7s 6d to £96 10s and buyers of the 5% per cents. (1933 and 1 1936) at £101. All banks have been dealt in during the week and prices generally have been slightly easier as compared with a week or a fortnight ago. The prices realised are set out hereunder, and show the course of the market for bank shares. For the long-term mortgage, or "D" shares of the Bank of New Zealand, there are buyers'at 26s for the fully-paid £1 shares add 16s'(3d for those in which 10s is paid up. Equitable Buildings are^ in request at £8 15s, but sellers stand out for £9 ss.' Vl' JTor ■ Metropolitan Permanents £13 . was ' offered yesterday, with no sellers. National Mortgages are wanted at 63s 9d. *■• New .Zealand.Guarantee Corporation (8s) :■; are firmer at 9s Id buyers and 9s 3d sell'L ers, and buyers offering 21s for the fully- ;!' paid £1 shares. New, Zealand Loan and yt Mercantile ordinary shares are wanted at '■'i' £93, an improvement of £1, but sellers '■'>' are silent. In the gas section interest^ has £.", been focused mainly on the "rights" to ■*» take up the new shares about to be issued k" by the' Cbristchurch enterprise. Other ;::..' gas shares are firmly held, with buyers of (-,;' Wellington Gas 6M, per cent, debentures »'.■ at £98 10s. Insurance shares have been ':'£ very moderately dealt in during the week, 5W but sales of shares in all four local offices :i.'. have been notified. ■ \ |_f: In meat shares there has been a decided ?~:\ rise in the 10s paid issue of the New :X, Zealand Refrigerating Company. A "week ?»•': ago these were wanted at 6s 3d; to-day l~- they are fetching Is more. Steamships ft.; have also been quiet this week. P. and !!■• O.s have sellers prepared to part for £f« £280, with no buyers yesterday. But Li". r they may be firming up again, for they sold during the week at £265, and later 'if £262. Coal shares are all very quiet, j'; ■with buyers,of Westports at 33s'6d, sell- <!'•? era asking 34s 9d. Timbers are all easy. ;',, Brewery shares have buyers of Staples s.). and Tuis at 36s 6d and 38s 9d respec- ;-.■ tively, but the market for them is very £■: quiet. '•■'■;■ Miscellaneous stocks were not active dur- ':'..". ing the week, although there was a fair ■Jii business done in British Tobaccos and a ,' r '■'• few Colonial Sugars changed hands. New- ►•■ ton King 6% per cent, cumulative preferS;; ence. shares are being offered at 13s 6d. .[>• Burns, Philps have buyers at 365, sellers bi holding out for Is advance on that price. ■■■; New Zealand Paper Mills are still to be ,r • had at 17s, but no buyers. Sharlands are ;C*. offered at 21s. Other stocks and shares £:*. call .for no special remark. '■■■'■■ Sales reported and on 'Change through- :!••■'».' out the week were as follow:— t! Government Loans.—4% per cent. ■ « Stock (1938), £96 7s 6d, £96 ss; 5% p.c. ;t Stock (1933), £101, £100 15s, £101; 5!6 :r';;p.c. Stock (1936), £101; 5 p.c. Post Office .'.-.Stock (1929), £99. | V, ; Company Debentures.—lo per cent. New £? Zealand Breweries Bonds, 23s 9d, 23s Bd, ;£-'--■ 23s B%d. . • .;. Banks.—New Zealand, 58s 3d, 58s; Na- »?; tional' of New Zealand, £6 17s; Union, I -•■ £U 16s, £14 15s, £14 14s 9d,, £14 15s, it £14 19s, £14 18s 6d, £14 ,19s; New South ;" Wales, £42 17s 6d, £43, £43 2s 6d,'£43 ; • ss; Australasia, £14 15s, £14 16s; Com;i,V mercial of Australia, 27s lOd, 27s lid, r ;: 28s, 27s lOd, 28s Id, 28s 2d, 28s Id, 28s l%d, '■* 28b, 27b Ud, and preference, £6 17s; Na'ri tional of Australasia (£lo),' £17 Is, £17 ■:■<;■ 2s. £17 Ss, (£5) £8 7s 6d. '■) •'-■ Insurance. —New Zealand, 39s 6d; South ■ I British; 575. 9d, 57s 6d, 57s 9d, 675, 58s; : ( .;: National, 76s 9d; Standard, 60s. if ■•«■ Financial Companies.—Abraham and Wil- '■!■'.•■ liams (pref.), 84s; Goldsbrough Mort., 44s ■■Z~ 6d, 43s 6d; Dalgety (new), £13, £13 3s f'j 6d; New Zealand Guarantee Corporation. XX 9s 3d. ; • ' • - £' '■ -Shipping.—Huddarfc-Parker (ord.), 47s h 3d, 475, 47s 3d; P. and O. Deferred, •..:*: £265, £262; Northern Steam, 14a and > ;; (con.), 7s. . '. ■•■■■ Gas.—Auckland, 235; Wellington (ordin- ::: ary), 27s 9d; Christchurch, cum rights, i - 22s 7d, and rights, sd, 6d, 7d, 6d, 7d, 6%d. ) ■ Bd, 7%d, Bd, 7%d, 7d, 6d, 7%d. ■■■" Meat.—New Zealand Refrigerating (10s), i ' 6s 6d, 6s 7d, 6s Bd, 6s lOd, 7s 3d, and (£1) '.:. -,- 14s; Soutiland, 31s. - ■ ■ ;•■ Coal.—Pukeiniro,' 61s, 61s 3d. •'■■>■ Timber.—Kauri, 24s 6d.- ---?;"» Breweries.—New Zealand Breweries, 44s s .'' id, 44s 6d; Monteith's, 20a. '.! , Miscellaneous. —New Zealand Drug '.'■■: (cum. div.), 64s 6d, 645; British Tfobacco, ''■-'. 55s 6d, 57s 3d, 57s 9d, 57s 6d, 57s 3d, f:- 57s 6d, S7s 3d; Colonial Sugar, £52 12s ;•' 6d; Wilson's Cement, 365; Quill. 1 Morris, ■v 21s 6d; "Otago Daily Times," 70s;' Beath. - and Co. (cum. div.), 33s 6d; Wellington ;■■■''' Woollen (pref.), £6; Henry Jones Co-op., ,'.' 36b 6d, 35s 9d; Farmers' Ca-operative :." Auctioneering (A pref.), 17s, (B) 15s; - i Auckland Amusements, 17s. ,'; Mining.—Electrolytic Zinc (pref.), 30s; &■ Waihi, 22s 3d, 225, 22s 10d,' 225, 22s 6d, !.i".'i 225, 21s lOd, 225; Kawarau, Bd.