COMMERCIAL

Greymouth Evening Star, 11 June 1927, Page 8

COMMERCIAL

DAIRY QUOTATIONS. (Per Press Association.) AUCKLAND, June 10. Mr. W. Grounds, Chairman of the Dairy Producers’ Board, declined to comment on a statement that the dairy market was weak because the buyers had withdrawn, through resenting the tactics of the Board in withholding stocks “We know that the market for both butter and cheese has weakened during the past week,” Mr. Ground said. “However, I have received advice tonight that both markets are now firming after the weakening tendency. STOCKS AND SHARES AUCKLAND, June 11. Sale on ’Change: Bank Australasia £l4/15/-. AUSTRALIAN LOANS. LONDON, June 10. It is understood that the issue of the Commonwealth loan has been delayed pending the Australian Loan Council’s arrangements. Victoria is probably floating a three million loan independently after the Commonwealth loan. BUTTER AND CHEESE. / . HI. — The New Zealand Produce Board has received the following market report from the London Agency, dated June 5 :—

Butter. —New Zealand salted 168/ to 170/, now freely quoted at 166/ to 168/, with 170/ occasionally, unsalted 17(f to 180/; market quiet. Australian finest salted 164/ to 168/, unsalted 170/ to 174/. Argentine finest salted 166/ to 170/. Irish Creamery 164/ to 166/. unsalted 172/ to 174/. Dutch 164/ to 166/. Latvian 162/ to 164/, unsalted 164/ to 168/. Lithuanian 160/ to 162/. Siberian 160/. Danish 166/ to 168/. Expect direct shipments from Siberia will be renewed, lietail prices Danish 1/8, North England 1/9, London, New Zealand 1/8. Germany.—lndications are that the local production is still large, but there is a prospect of a decrease shortly, involving purchases of increased quantifies of other butters, which meantime, are attracted to England owing to high prices. France.—Local production large, but interested in colonial.

Cheese. —New Zealand white 86/, 87/ up to 88/, coloured 87/ and 88/, exceptional 90; market quiet, with weakening tendency. Canadian old season’s finest white and coloured 98/ to 100/. Now offering small quantity of new season at 87/ c.i.f., but no business. Retail price lid. R’o P,,lm F ,Y LA, BANK OF NEW ZEALAND. In the “Star” was recently published the results of last year’s trading by the Bank of New Zealand. The following comparative tables furnish an indication of its earning capacity and its financial position: Profits. Dividends. Reserves

In 1920 £1,125,000 was transferred from reserves to capital. STOCKS AND SHARES (By “Insider”) The stringency in the money market mentioned in these notes last week continues. The banks have taken steps to check the demand for advances by raising the rate of interest to 7 per cent. This action has aroused much criticism, but in view of the position disclosed by the publication of the last banking returns, their action seems quite justified. A hopeful sign of better times is the Dominion’s trend towards recovery from an adverse trade balance. During March quarter 1927, the imports to the Dominion amounted to £11,995,000 as compared with £13,692,000 for 1926.' Exports were valued at £ 16,671,000 against £16,264,000 for 1926. There has only been a moderate amount of business during the week on the stock exchange. Prices have been well maintained and in a few instances show an advance on the previous week. Bank of New Zealands remain about the same as last week. The balance sheet has been issued and shows a very satisfactory position. The balance to credit of .profit and loss account is £1,214,803 compared with £1,183,000 for 1926. The directors propose to pay a bonus of 1 per cent, in addition to the usual half-yearly dividend of 1/4 per share on the ordinary shares. Union Banks continuer to have demand. Sales were ‘made at £l5/12/6 and £l5/13/-. Bank of New South Wales have buyers at £46 and for the rights to new issue at £25/5/-. New Zealand Insurance have improved to 40/-, evidently a further write up in the shares is contemplated by the Company. Staple’s Brewery shares have sales at the improved price of 41/-. The special meeting of shareholders was

held last Wednesday to consider what should be done with, the assets of the Company. Divided opinion exists amongst the shareholders as to liquidation. However the agitation has been responsible for a. rise of 3/- per share. Colonial sugars continue to move up, sales were made at 453/15/-. British Tobaccos also have improved to sales at 54/-. CHCH. STOCK EXCHANGE QUOTATIONS.

£ £ £ 1916 .. 335,801 236,507 2,118,605 1917 . . 415,490 237,500 2,246,595 1918 . . 386,607 237,500 2,345,702 1919 .. 438,022 237,000 2,496,224 1920 . . 469,046 268,750 2,646,520 J921 . . 827,256 412,500 1,886,276 1922 . . 683,043 412,500 2,105,819 1923 . . 553,638 412,500 2,246,957 1924 . . 735,831 437,306 2,325,000 1925 . . 819,285 512,500 2,575,000 1926 . . 912,160 662,392 2,825,000 1927 . . 847,670 771,814 3,025,000

DEBENTURES— • Buyers. £ s. d. Sellers. £ s. d. 4J p.c. Inscr., 1938 97 (I 0 97 5 0 4J p.c. Inscr., 1939 96 17 6 97 0 0 4J p.c. Bonds, 1939 97 0 0 97 5 0 5 p.c., 1927 97 9 0 97 5 0 5J p.c. Inscr., 1927 p.c. Bonds, 1927 98 15 9 99 9 0 99 10 a 5J p.c. Inscr., 1928 191 0 0 101 5 0 5% p.c. Bonds, 1933 101 2 6 100 5 0 Hi p.c Bonds, 1936 51 p.c. Inscr., 1936 101 5 0 101 0 0 101 0 0 5? P.c. Chch. Gas, 1934 109 10 0 71 p.c. Gisborne Sheepfarmers 1931 N.Z. Breweries 13 9 96 10 0 1 4 0 BANKSAdelaide 9 10 0 9 11 6 Aust. Bank of Commerce l 15 1 1 15 3 Australasia 14 -15 6 14 16 0 Comm, of Australia ... I 9 5 19 9 do. (pref.) 7 0 0 7 2 6 Comm, of Sydney 24 17 6 25 0 0 E.S. and A 8 7 0 8 9 6 National of Australasai 8 12 6. 8 13 6 National of N.Z. 7 2 6 7 3 6 New South Wales 45 17 6 46 7 6 N. S. Wales (Rights; ... 25 2 6 25 10 0 New Zealand 3 0 10 3 1 0 Union of Australia ... 15 12 0 15 14 0 Western Australia 2 19 3 3 0 0 B.N.Z.L.T. Mortgage ... Bank N.Z. Mortgage ... 12 2 11 0 11 9 do. (fully paid) ... 1 4 9 1 6 9 INSURANCE— National of N.Z. 3 13 0 3 14 0 New Zealand 1 19 6 2 0 0 South British 2 16 9 2 17 3 Standard 2 17 0 3 0 0 Queensland 2 16 9 2 17 3 LOAN AND AGENCYDalgety and Co 13 15 0 13 18 6 Dalgety rights 5 13 0 5 15 0 Goldsbrough Mort. 2 9 9 2 10 4 SHIPPING— Howard Smith 1 12 0 1 12 5 Huddart Parker 2 7 3 2 8 9 Union (5J p.c. Cum Pref. 1 0 0 10 6 P. and O. Stock >82 0 0 290 0 0 FROZEN MEAT— Canterbury N.Z. Refrigerating 7 15 0 8 10 0 6 6 6 7 do. 20s paid 14 10 15 5 WOOLLENSKaiapoi 10 8 ll 0 COAL— Westport 1 14 1 1 14 11 Westport-Stockton 1 0 1 9 GASAuckland Christchurch Timaru 14 4 7 7 6 1 3 9 BREWERIESCrown Manning 19 0 15 0 10 0 New Zealand 2 10 4 2 10 9 Ward 1 19 0 2 10 Staples 2 0 0 2 10 Monteith 18 6 12 6 CEMENTS— Wilson’s ex-div 1 14 10 1 15 2 TIMBERKauri 1 4 0 15 0 MISCELLANEOUSBeath and Co 1 12 0 1 13 0 British Tobacco 2 12 9 2 13 3 Buims, Philp Colonial Sugar 2 2 0 52 10 0 54 10 0 Dunlop Rubber Elect.' Zinc Pref. 1 13 6 1 14 6 1 13 9 1 14 6 . Holdens N.Z. Drug Co 3 2 6 1 13 0 3 3 6 N.Z. Farmers’ Co-op. ... 76 10 0 80 0 0 N.Z. Sugar of Milk 12 6 1 10 0 Whitcombs and Tombs 3 10 0 3 11 0 Dom. Home Bldgs. 1 6 6 0 National Tobacco D.I.C. (pref.) 3 0 0 13 0 13 6 D.I.C. (ord.) 19 3 1 0 0 MINING— Kawarau 2 6 3 0 Mt. Lyell 1 7 4 18 0 Waihi 18 0 18 9 Blackwater Alexanders (fully paid) 5 1. 20 0