COMMERCIAL

Evening Star, Issue 20252, 13 August 1929, Page 7

COMMERCIAL

THE SHARE MARKET ■ DUNEDIN STOCK EXCHANGE. The local share market opened this morning with a reported sale of, Bank of New Zcalands.afc 62s 9(1. On call no business resulted, there being little change in the regularly quoted stocks. There were buyers at 62s 3d for Bank.of New Zealands, but no seller under 635. A seller of Commercial Bank of Sydney at £25 15s received no. quote from buyers. A very close market resulted in National Insurances, the buyer being prepared to give 16s 3d for two or three hundred 1 shares, but the seller would not quit under TCs 4d. Westport Coals were in demand at 335, with a seller only 4d away. Persistent buyers of Perpetual Trustees shares at 68s receive no support from sellers. Regent Theatres remain very firm, there being buyers at 265, but no shares to be had under 30s. Wilson’s Portland Cements showed a close market, only 3d separating the buyer from the seller. Waihis were on offer this morning at 12s 6d, with the buyer quoting 12s 2d. There was the usual strong demand for Wav Loans, but no sellers appeared. Sale reported; Bank of New Zealand, £5 2s 9d.

31 AH A KIP AW A G OLDFIELDS. MOPE CAPITAL, OR LIQUIDATE. [Special to the ‘ Star.’] CHR I SIC 11 UR CH, A ugust 13. An important decision must be made by the shareholders of Mahakipawa Goldfields, Ltd., for, unless they agree to the proposal that the capital of the company bo increased by £IO,OOO, the only alternative, the directors state, will be voluntary liquidation. A circular to this effect lias been issued to tho shareholders, and tho whole position of the company will be reviewed at an extraordinary general meeting on August 20, when the following resolution will be submitted by the directors;—“That the capital of the company be increased by £IO,OOO by the issue of a further 200,000 shares' of Is each, payable 6d on allotment,’ with two calls of 3d each, thus increasing till! total authorised capital to £50,000.” The circular states that, should the above motion not be carried, the following will bo submitted as the only alternative That, it having been proved to the satisfaction of they company that it cannot, by reason of its liabilities, continue its business, it is advisable to wind up the same, ami the company forthwith go into voluntary liquidation.” The finances ol the company, tho circular adds, have now reached a stage which ncces-, sitates. one step or the other being" taken. The directors appeal to members _ to protect their interests by supporting the motion for an increase of

capital, and by applying for new shares, as development has now been carried to a point at which it would be a disastrous step to leave it. GRAIN AND PRODUCE. Messrs Dalgety and Co., Ltd., report as follows; t Oats,—Offerings from farmers have practically ceased, and there is now very little business doing, except for odd lines lor seed or feed. The shipping_ demand has shown a little more life in Canterbury, and the market has finned slightly. Nominal values to larmiers still remain at 2s 10d for A's and 2s dd lor IPs, on trucks, country sid iu«s.

\VJicat—At present there is no demand lor milling wheat, which, as far as Otago is concerned, is. now confined

to a few lines of pool wheat in brokers’ stores. Free wheat is now practically all in tho millers’ hands, and in Canterbury the pool-controlled stocks arc being drawn upon more freely. Nominal values remain as follow :—Tuscan 5s 9d, Hunters 6s, Velvet Cs 6d, on ; trucks, sacks extra. Chaff.—The market is practically bare of supplies of prime quality, which is now saleable at £6 per ton, ex truck. Supplies from Canterbury ■ have eased off, consequent upon the firming of the market there, and the recent rough weather has delayed cutting locally. Medium and inferior quality is still in fair supply. Potatoes. —There has been a steady firming in tho'market, and during the week sales were made up to £9 per ton. Growers in Canterbury, from where most of ‘the local supplies arc now drawn, are firm holders, and the present value can bo quoted at £9 10s per ton. There docs not appear to be an over-supply of best quality tubers, which must tend to maintain present values;

BRADFORD MARKET

Pi css Associatioi—By Telegraph—Copyright,

LONDON, August 12. (Received August 13, at 9.20 a.m.) There is a holiday market at Bradford ,aud prices are unchanged.—Australian Press Association. DAIRY PRODUCE. A. S. Peterson and Co. are in reeein ; of the following cable from their Loi don principals (Messrs J. and J. Lon dale and Co., Ltd.), dated 9th inst.;Butter; More inquiry: New Zealand I6Ps, 1725; Danish, I/Os, 1725; Aus tralian, 1625, 1675. Cheese: Slow; Olivers indifferent.. Coloured, 89s, 90s; white, Sis, 86s.

Quotations as under: — Buyers. Selle ■s. £ s. d. £ 8. d. BANKING— Bank of Australasia 15 10 0 — Bank of N.S.W. (cum) 51 5 0 51 17 6 Rank of New Zealand 3 2 3, 3 3 0 Bank of New Zealand (Long "I)’') ... ... 1 8 9 — Cornel. Bank (ex div.) 1 9 C — Cornel. Bank of Sydney ,— 25 la U E.S. and A. Bank 8 8 0 8 9 6 National Bank of V Now Zealand — 7 0 0 National Bank of Australasia (cont.j — 9 15 0 Union Bank of Australia Ltd 15 0 0 15 4 0 INSURANCE— National Insurance Co. 0 16 3 0 16 4 South Brit. Insur. Co. — 3 8 6 SHIPPING— Huddart, Parker (prof-) 1 1 0 _ COAL— Westport Coal Co. 1 13 "o 1 16 4 LOAN AND AGENCY— National Mortgage ... N.Z. Loan and Mercan4 5 0 — tile (ord.) 122 0 0 — N.Z. Loan and Mcrcantile (prof.) 83 0 0 — Perpetual Trustees ... 3 8 0 — Trustees, Executors ... 3 0 0 Wright, ioteph, (ord.) 1 5 6 1 7 0 Wright, steph. (pref.) 0 18 3 ” MEAT PRESERVING— ■ N.Z. Refrigerating 0 0 6 (cent.) 0 7 7 MISCELLANEOUS— Aust. Iron and Steel 1 2 0 — British Tobacco — 2 8 9 Brown, Ewing (pref.) Bruce Woollen Co. (ord 1 0 6 —, .) 0 11 6 — D.I.C. (ord.) 0 11 3p — D.I.C. (prof.) Donagbv’s Rope and Twine 1 1 4 — 1 16 0 1 luu.-Ka'korai Trams 1 4 0 — Dunlop Rubber 1 7 0 — Eaiapoi Woollen (ord.) 0 14 0 0 14 6 Kaiapoi Woollen (cont.) 0 4 10 Kaiapoi Woollen iprcf.) 0 16 3 — Milbum Lime and Cement (ord.) 1 19 0 2 0 0 Mosgiel Woollen Co. 7 14 0 — National .Electric 0 9 6 0 10 9 N.Z. Guar. Corp: ... N.Z. Paper Mills ... 0 9 3 — 1 0 0 1 0 9 N.Z. Sugar of Milk ' Otago Daily Times ’ — 0 19 0 3 12 0 3 15 6 Regent Theatre Smith and Smith 1 6 0 1 10 0 (pref.) 0 19 0 — Wilson’s Portland Cement 2 4 9 2 5 0 Farmers’ Fertilisers ... _ 1 4 3 Victoria Nyanza (cum.) 2 6 6 — BREWERIES— N.Z. Breweries, Ltd. — 4 5 0 N.Z. .Breweries Debs. 1 8 5 1 8 9 Staples’s Brewery 2 15 6 — MINING—. Kawarau 0 0 5 U o7 Xokumai Sluicing 0 15 0 _ Waibi 0 12 2 0 12 6 Electrolytic Zinc (dof. ord., cum.) i m 3 Z 0 0 .Broken Hill S. (cum.) 9 0 Aiolyncux Electric Big Beach • Kildare 0 6 0 0 0 7 7 6 0 0 4 9 0 5 z Winding Creek 0 1 Op 0 1 7p Ohiiicmuri 0 10 3 0 10 b WAR BONDS— (Bonds quoted arc £100 Bonds.) 1958 41 p.c. Bonds ... 100 0 0 1955 p.c. Bonds ... 100 0 0 • 1355 5£ p.c. S.S. Bonds 101 2 6 )93S <l£ p.c. Insc. ... 100 0 0 1939 41 p.c. Insc. ... 100 0 0 1953 5.( p.c. In'-cribed 1U1 2 6 t 1941 Lt p.c. Bonds ... 100 0 0 1941 Si p.c. Inscribed 99 0 0 1939 5,f p.c. Bonds ... 99 0 0 1936 51 p.c. Bonds 101 7 6 1926 51 p.c. Inscribed 101 7 6