THE SHARE MARKET

Evening Star, Issue 21736, 2 June 1934, Page 11

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE The market was quiet this morning, no sales being effected; but there were reported sales. The banking shares remained unaltered. The firming inclination in Bank of New Zealands has now ceased. National Bank of New Zealands were on offer at 83s, but there was no i espouse from buyers. National Insurances provided a buying quotation at 20s 6d, but there was no seller. Union Steam Ships (pref.), which are now ex dividend, wore wanted at 25s 9d, but without result. There was an inquiry for Westport Coals at 16s lOd, but there was no seller on the market. No inquiry was received for National Mortgages, which were on offer at 625. Meat preserving shares maintained a strong market, but it was difficult to get selling quotations here. For British Tobaccos there was a buyer at 375, cum dividend of 11 per cent, from the quarter just ended. Brown, Ewings and Bruce Woollens were both wanted, but sellers were holding off. New Zealand Breweries retained their prices, a buyer offering 44s and a seller quoting 44s 6ti. The mining market remained steady at lata quotations, and there was very little, if any, change in prices. Glenroys were asked for at 9d, but .without reply, and Oxenbridges were on offer at Is Id, Skippers being ready to sell at the same price. For the latter there was an offer of Is. Tho quotations for Waitahus were 4s 5d buyer, 4s 8d seller. Government Loans provided buying prices right down the list, but neither stocks nor bonds were available. SALES. Reported.—Broken Hill South (late yesterday), £3 12s 6d (cum div.); N.Z. Refrigerating (cont.), 9s Id, 9s; Auckland Gas (cont.), 19s 6d; Golden Point, 3Jd. Quotations as under:—

DIVIDENDS DUE. Dominion Fertiliser —Final, 7 I-5d •hare, 3 p.o June 2 Wilson’s Cement—Final, 6d per share J”"* » Goldsbrough, Mort —6 p.c. p.a. ... June 28 Broken Hill South—ls 6d a share; payable m Melbourne ... ... June 15 Bank of N.Z.-flnal, 5 per cent., making 10 p.c. for the year ... June-15 N.Z. Breweries—Final, 3£ .p.c., half-year -... JulyFRUIT AND PRODUCE Bray Bros. Ltd (Dunedin) report as follows for week ended to-day:— The broken weather continues to interfere with threshing, and there has been practically no offerings from the country. So far this season there has not been many frosts, but when they do make an appearance it is expected that the mills will be able to get into the paddocks. As a matter of fact, most of the millers have purchased the bulk of their requirements, and it will not be long before they are off the market. The advanced prices being paid this month are on the basis of 3s 7d per bushel for Tuscan, growers nearest port, sacks extra. Present indications point to a considerably less area being sown in wheat this season. The wet weather prevented many farmers from sowing in the autumn, and, moreover, some of them are increasing their shsep flocks, considering that their returns from this branch of farming will be more profitable than if they continued to grow wheat. . ■ The fowl wheat market is quiet. Shipping prices have declined, and there is now more fowl_ wheat offering than is required for immediate consumption. Best quality fowl wheat is soiling at 3s 4d per bushel, sacks extra, delivered in Dunedin. The shipping value has declined to 3s 2id, f.0.b., sacks extra. Millers’ prices for flour, etc., are as follows'.— Flour—2oolb, £l4 2s: 1001 b, £l4 17s; 50’s. £ls 2s; 25’s, £ls 7s. Bran, £4 10s per ton. Pollard, £6 10s per ton. Oatmeal—2oolb, £l9; 25’s, £2l.

The oat market remains weak with practically no business passing. Millers have withdrawn from the market, and it is also quite the exception to receive an order for shipment to the North Island, On the other hand, farmers are still offering from the country, but with the poor outlook for this cereal merchants are not inclined to do business. Values for shipping have declined to 2s 5d,. f.0.b., s.i., for A’s, and 2s 2d for B’s, These prices are equivalent to Is 9d, sacks extra, on trucks, country sidings, for A’s, and Is fid for B’s. Undergrades, which appear to bo fairly plentiful, are not worth more than Is 3d, sacks extra, in the country. Sales of chaff continue slow. An odd truck lot finds a buyer at £3 15s per ton, sacks extra, and smaller deliveries ex the store are worth £4 5s per ton. Supplies are fairly plentiful, and there are sufficient stocks in store to cover requirements for the next month or so. The potato market has again weakened. The expectation of early shipments to the North Island has not been fulfilled, and advices from Auckland state that a considerable quantity or locally grown tubers are still available there. Prices have been reduced in order to effect sales to the north, and to-day’s shipping value is £3 10s per ton, f.0.b., s.i. So far as the Jocal market is concerned there has not been much Consignments are arriving freely, but the quality of the tubers is somewhat patchy. All the seed markets remain quiet, with a firm tone. There is not much business doing in the seeds at this time of the year, as merchants prefer to wait for the spring demand from retailers before operating. Farmers, however, have sold the bulk of their seeds to the merchants. Cocksfoot remains firm, and with the shortage in Chewing’s fescue and dogtail, higher prices are being asked for these lines. There is a fair amount of white clover from the southern districts this year, and this will help to make up the shortage in Canterubry. The prices for this southern seed are below what are being asked for Canterbury. < . Business has again been quiet during the week in the fruit marts. We extend a cordial invitation to all fruitgrowers who are in town for the purpose of visiting the Winter Show, to call at our auction rooms, which are situated in Bond and Crawford streets (opposite the Agricultural and Pastoral Society’s building), and inspect a new

style of fruit crate which has been patented by Mr George Strachan, of Roxburgh. Heavy supplies of Winter Cole pears have been coming forward, and prices are low. Consignments of Winter Cole from Otago Central should now, however, slacken off. Apples are offering at low_ prices, with choice quality only being inquired for. Low prices, indeed, are ruling for apples in every market; A small shipment was sent on consignment to Australia by the Waikouaiti in order to try to open up a fresh market. The duty on the fruit is 3s 9d per case and the freight, etc. 2s 3d, so that good prices will have to be realised to show a margin of profit. The result of the experiment is awaited with keen interest by those concerned. The market is well supplied with bananas. Retailers are not buying more than their actual requirements, but stocks held by wholesalers are ripening nicely. A consignment of Californian Valencias, grapefruit, and lemons arrived ex the Wingatui, transhipped ex Maunganui at Wellington, the fruit being in excellent condition, and they were readily disposed of to the trade. A large consignment of island oranges were landed ex the same steamer at Wellington on Monday, and the local proportion was received here on Wednesday, some of the, fruit showing signs of waste. The consignment _ was sold to retailers at moderate prices. No Rarotongan bananas came to this market.

Nothing further has been heard regarding the removal of the embargo on the importation of Australian fruit to New Zealand. In the meantime the market is quite dependent up9n Californian oranges, at high prices, or Island-grown. The Island oranges generally are in poor condition. Californian lemons are high in price. New Zealand-grown are offering freely. The Californians are preferred by retailers owing to their keening qualities, and this despite their high price. Passion fruit have a. better demand. Gros Colmar grapes are still arriving from local hothouses, and from the Kakanui district. Supplies, however, should shortly ease off. There is a keen demand for melons, and the demand is in excess of the supply. It is usual at this time of the year to receive large shipments from Australia, but these are not forthcoming this season. We have received word that six tons are coming to hand by the Poolta. She is due to arrive at Dunedin on Monday. Choice quality marrows have a better demand. . Cauliflowers have a better inquiry". Cabbages are hard to place at any price. Some choice quality green peas have come on the market during the week. Lines which bear signs of the weather are hard to place. Carrots, parsnips, and swedes are in heavy supply, and prices are low. Artichokes have been offering freely, and have a good demand. Rhubarb has a better demand. Honey and cheese are selling freely. Dairy pat butter is inquired for, and there is a good sale for eggs, the market value for these having dropped back to Is 9d yesterday. The following prices were realised during the week : —■ Apples.—Cox Orange, 6s fid to 10s fid; Jonathans, 4s to fis fid; Delicious, 4s to 6s fid; Cleopatras, 5s fid to fis fid; Wolseley, 4s to ss. Pears. —Conference, to 3s; Winter Cole, 2s fid to ss; Buerre Boss, 3s to 4s fid; Jargonelle, 2s fid to 4s. Tomatoes. —Locals, 5d to lid; Christchurch, 2d to 4d; small seconds, lid to lid; Central Otago, Id to 2d. Grapes.—Hothouse, lOd to Is -d, Gros Colmars, Is Bd. New Zealand passions, fis to bs. New Zealand lemons, 10s to Ls od. Californian lemons, to 49s fid. Californian navel oranges, to 4-s od Californian valencias, to 405..

Californian grapefruit, to 4os. Island oranges, los to 17s 6d. Bananas.—Ripe, to 20a. Scarlet runner beans, 2d. French beans, 2Jd to 3d. French beans, 2id to 3d. Peas.—Choice, 2d to 2Jd; others, Id to lid. Quinces, 2d to 2Jd. Cabbages, Is 6d to 2s 6d. Cauliflowers, 3s to 6s. Carrots, 2s to 3s per sugar bag. Cucumbers. —Hothouse, 3s 6d to os per dozen; outside, 2s per dozen. Lettuces, Is to Is 6d. Potatoes, 4s 6d to 5s 6d, Onions, to £3 per ton. Marrows (wanted), to 6s cwt. , Pumpkins, to 3s 6d per bag. North Island melons, to 11s. Honey.—jib pats, 3s 6d per dozen; section, 8s 6d; 101 b tins, ss; bulb, 4d to sd. Fowl wheat, to 4s 6d per bushel. Dairy butter, to 7id per lb. Cheese, 5Jd per lb. ) Eggs, market rates. Macdonald and Miller’s Gold Medal Bacon.—lOd to lid. • Boneless hams, Is OJd. ' Lard, 6Jd. COMPANIES REGISTERED •> . The ‘Mercantile Gazette’ records registration of the following companies; —Quartz Mountain (Papua) Ltd. Registered May 17. Capital: £IOO,OOO, in 4d),000 shares of. 5s each. Subscribers: Dunedin—C. E. Smith 4,000, W. T. Easton 2,000, A. J. Harris 2,000, J. M. Thomson 12,000, T. R. Thomson 2,000; Misima —tV, H. Gordon 2,000, Robert Boyd 2,000. Objects: To. carry, on all kinds of business in relation to mining on the Island of Misima. _ Marionette Beauty Salon Ltd. Registered as a private company. May 18. Capital; £250, in 250 shares of £1 each. Subscribers: Dunedin —A. P. Baily 125, G. M. Bain 125. Objects: To carry on at Dunedin or elsewhere in. New Zealand the business of proprietor of a beauty salon; hairdressing, manicure, and toilet rooms, and buyer, seller, and dealer of or in cosmetics,. toilet requisites, and fancy goods.

Buyers. Sellers. £ a. d. £ a. d. BANKING— ' Bank of Australasia 12 0 0 Bank of New Zealand (cum.) ... 2 11 8 2 12 6 Commercial Bank ... — 0 16 9 National Bank of New Zealand 4 3 0 National Bank of Australasia (cont.) 6 8 6 Union Bank of Australia Ltd — 10 2 0 INSURANCE— National Insur. Co. 1 0 6 N.Z. Insurance Co. ... — 3 4 0 Standard Insur. Co. 3 3 9 3 6 0 SHIPPING— Huddart-Parker (pref.) ... U.S.S. Co. (pref., ex) 1 5 6 — 1 5 9 — COAL— Kaitangata Coal _ 1 1 6 Westport Coal Co. ... 0 16 10 — Westport-Stockton (pref.) 0 3 0 — LOAN AND AGENCY— Goldsbrougb, Mort ... 1 13 0 National Mortgage (cum.) — 3 2 0 National Mortgage ■ (“ B ” issue, cum) 1 11 0 — Wright, Stephenson (ord.) — 0 19 3 Wright, Stephenson (pref.) ... 0 19 0 “ MEAT PRESERVING— . N.Z. Refrigerating (paid) ... 0 19 0 1 0 0 N.Z. Refrigerating (cont.) 0 8 10 — Southland Broken.Meat (paid) ... ... ... 3 6 0 — Southland Frozen Meat (cont?) .:. ... ... 1 13 9 — Southland Frozen Meat (pref.) • ... 3 6 0 — Waitaki Farmers’ Freezing ... — 3 10 0 MISCELLANEOUS— British Tobacco ... ... 1 17 0 Brown, Kwmg (ord.) 0 18 6 — Brown, Ewing (pref.) 1 1 0 — Bruce Woollen' Co. (pref.) • ... 1 1 0 — Crystal Ice Co, (ex) 1 14 0 1 19 0 D.I.C. (ord.) 0 u 0 0 17 0 D.I.C. (pref.) ..; ... 1 3 9 — Dominion Fertiliser ... — 0 18 0 Dominion Fertiliser Debentures 103 0 0 —• Dominion Rubber ... — 1 5 0 Ounedin- Kaikorai Trams ... 1 15 0 — Dunedin Stock Exchange Proprietary 1 18 0 2 5 0 Electrolytic Zinc (def. ord.) 1 5 9 1 6 6 Kaiapoi Woollen (ord.) ... 0 9 6 0 10 0 Kaiapoi Woollen (cont.) 0 3 5 — Kaiapoi Woollen (pref.) .- ... 0 18 6 0 19 6 Milburn. Lime and Cement 1 12 0 — Mount Lyell 1 0 6 — National Electric — 0 6 0 N.Z. Drug Co 3 16 0 3 17 6 N.Z. Paper Mills ... 1 9 0 1 9 9 ‘ Otago Daily Times ’ 2 6 0 .— Regent Theatre — 1 0 6 Smith and Smith (pref.) 0 17 0 —

BREWERIES— N.Z. Breweries 2 4 0 2 4 *8 Staples’s Brewery ... Dunedin Brewery 1 5 0 1 11 0 Tooth’s Brewery 2 4 0 2 5 0 OIL— j Moturoa (ord.) 0 3 3 — GOLD MINING— Aotearoa Bell-Hooper Bell-Kilgour Bendigo Goldlight ... 0 0 4 0 0 0 0 8 0 9 0 6 0 0 7* 0 0 9 Big River ... ... '— 0 0 10 Brian Boru ... ... 0 1 6 — Charleston Gillespie’s 0 1 8 0 0 1 5 1 10 Golden Point Golden Progress 0 0 9 0 0 0 5 -k 1 4 Golden Sands Goldfields Dredging 0 0 9 0 3 0 0 0 10£ Glenroy Hatter’s Flat Kildare 0 0 9 — 0 1 11 0 0 0 7 2 11 King Solomon Lawson’s Flat Maerewhenua ... ... Mahakipawa 0 0 7 0 0 0 0 3 11 0 5 0 91 0 9 Moonlight, Nelson Creek 0 0 5 0 0 9 Nevis Diesel ... ... New Cornish Point (paid) Nokomai 0 2 64 0 0 5 0 0 101 0 2 8 Okai'ito 0 8 3 0 8 6 Oxenbridge Paddy’s Point , *0 2 0 0 1 1 Skippers 1 0 0 1 ' 1 Waitahu 0 4 5 0 4 8 Deep Lead 0 2 0 — N.Z. GOVERNMENT LOANS— (Bonds quoted are £100 Bonds.) 3jr p.c. Stock. 193319+3 ... 104 0 0 3i p.c. Stock, 19391943 104 0 0 — 31 p.c. Stock, 19411943 104 0 0 3J Stock, 1938104 0 0 31 p.c. Slock, 19391952 104 0 0 34 p.c. Stock, 19411952 104 0 0 4 p.c. Bonds, Jan. 15, 1940 105 0 0 4 p.c. Slock, Jan. 15, 1940 105 0 0 — 4 p.c. Bonds, Feb. 15, 1946 105 10 0 4 p.c. Stock, Feb. 15, 1946 105 10 0 4 p.c. Bonds. April 15 1949 106 0 0 4 p.c Stock, April 15 1949 ... 106 0 0 4 p.c. Bonds, June 15 1955 107 10 0 4 p.c. Stock, Juno 15 1955 ... ... 107 10 0 —