COMMERCIAL

Greymouth Evening Star, 26 January 1929, Page 8

COMMERCIAL

GRAIN AND PRODUCE

(Per Press Association.) CHRISTCHURCH, January 25. The main topic of discussion in trade circles is the cyclonic storm that has prevailed since Wednesday night. A little business has been done in wheat, but it has been confined to the old season’s crop. The fine weather prevailing- up till Wednesday prompted some holders to come on the market in case further delay would mean having to compete with the new crops, which the burst of fine weather was speedily ripening. However, there are few buyers, most of the millers being supplied for seme time ahead; but some purchases have been made at 5/7 to 5/S on trucks. Business in oats is very small, 2/6 f.o.b.s.i. for A Gartons and 3/3 for B’s. Algerians are not inquired for. A sample has been offered merchants, who are normally quoting 2/6 to 2/1) a bushel on trucks. Chaff has been the medium of some forward business, £5/10/- a ton f.o.b.s.i. being paid for April, May, and June delivery. A few samples of perennial ryegrass have been offered during the week. Quotations are from 3/3 (for indifferent weight) to 3/9 (for the best). Only one. line of Italian ryegrass has so far been offered. A nominal quotation is 3/- on trucks. No samples of cocksfoot are yet forward. Expectations are that values will open at from 7d to 8d a lb. on trucks.

Partridge peas, which showed a shade of hardening in the mid week, are slower, and a sale was made at 6/- a bushel f.o.b.s.i.

The potato market is unchanged. Business was done to-day at £5 a ton f.ob.s.i., but the on truck price, which had eased below £ll during the week, is now back at that figure. So far as growers are concerned, the crops above ground are looking exceptionally well, but investigations of the roots in many cases have not confirmed the outward prospects. There is quite a body of opinion to the effect that notwithstanding the promise of the lighter land cifops, ,those on heavy land will be disappointing. Onions have not been affected by the weather burst, and they are reported to be good in the Marshlands district. ’ HIKURANGI COAL COMPANY. AUCKLAND, January 24. The shareholders in the Hikurangi Coal Company have received the thirtyfifth annual report of the directors, which is very satisfactory. The directors state that sales of coal during the past year constituted a record for the company, with consequent reduction in costs, and substantial reduction in liabilities. Considerable development has been carried on in the mine, and the thickness of the seam and the

quality of the coal have been well maintained. Applications have been made for a grant of Crown leases for a further 22 acres (approximately), adjoining the present mine workings. The profit and loss account for the year ended December 31 shows that the total receipts by sales were £103,581 9s 3d and by transfer fees £l3 10s, total £103,594 19s 3d- The expenditure was £94,367 15s, leaving a balance to credit of £9227 4s 3d, of which £6388 14s was brought forward at December, 1927. PUBLIC TRUST. The following particulars of the loan transactions of the Public Trust Office and new business reported during the ■mdjnth ■ ended 31st December, 1928, have been supplied by the Prime Minister (the Right Hon. Sir Joseph Ward): —

“The amount paid out in settlement of new loans was £153,851 3/3. Further news loans were granted to the amount of £91,794, and the total of new loans now awaiting completion is £420,070, while offers of loans less than the full amounts applied for amount to £147,146 —a total of £573,216. Applications for additional new loans amounting to £303,549 are now under consideration. Notwithstanding the intervention of the Christmas holidays, estates of a value of £333,128 were reported and accepted foi’ administration during the month. . On March 31, 1928, the total value of the estates under administration was £44,155,548, and the new business for the nine months ended December 31 last (£5,012,644) exceeded that of the same period for the previous year by £547,592. Some 484 new wills appointing the Public Trustee executor were deposited fm’ safe custody with the Public Trustee by living testators, and the total number now held is 61,624, representing an estimated present value of £241,800,000.”

STOCKS AND SHARES.

DUNEDIN, January 26.

Sales reported: Union Bank, £l5 15/-; Dalgety’s, £l5 8/6. On ’Change: New Zealand Breweries, 58/-.

(Notes by “Insider”).

The business recorded during the past week shows marked increase over the previous week and ixx many cases prices have improved.

The bulk of sales have been in Bank shares. Bank of New Zealand's have reached 62/9, the highest price recorded foi’ a considerable time. Bank of New South Wales sold last week at £5l/5/aud this wek touched £5l/15/-, a rise of 10,'- per share. Union Banks are in keen demand at £l5/15/-. Commercial Bank of Australia, cum rights, have had sales at 31/-. New Zealand Insurance shares have keen enquiry at 47/3, National Insurance have buyers at 16/2. South British are firm with buyers at 64/3. Dalgety and Co. have advanced to sales at £l5/8/-. New Zealand Breweries have jumped to 58/6. Staples’ buyers have gone up to 43/3, but sellers are asking 45/-. British Tobacco market has advanced to 48/-. Profits from this company have considerably increased during recent years. Fox- the year’ 1928 the profit reached the high sum of £916,506/8/-, against £786,876 for the previous year.

M. J. FOGARTY AND CO., STOCK & SHAREBROKERS, Mackay Street ::: Greymouth.

IF you have any money for investment CONSULT US for reliable information.

CHCH. STOCK EXCHANGE QUOTATIONS. Buyers. Sellers. DEBENTURES— 4i p.c. Inscr., 1938 £ s. d. £ 8. d 99 10 0 99 15 0 4j p.c. Inscr., 1939 99 10 0 99 15 0 4J p.c. Bonds 99 10 0 99 15 0 5J p.c. Inscr. 1927-41 98 2 6 98 10 0 5J p.c. Inscr., 1928 100 5 0 100 10 0 p.c Bonds, 1933 100 2 6 100 10 0 5$ p.c. Bonds, 1936 100 12 6 100 15 0 5J p.c. Bonds, 1933 100 12 6 100 15 0 52 p.c. Chch. Gas, 1934 n.c- Chcb. Hospital 100 10 99 0 0 0 99 10 N.Z. Breweries 1 5 3 1 6 0 BANKS— Adelaide 10 0 0 10 3 0 Aus. Bank of Commerce I 13 10 1 14 0 ■ Australasia 11 14 0 0 0 Comm, of Australia ... 1 10 9 x .i 10 10 do. (pref.) 7 7 0 7 10 0 Comm, of Sydney 28 5 0 28 10 0 E.S. and A 8 14 0 8 15 0 National of Australia ... 9 11 0 9 12 0 New South Wales 51 8 6 51 14 c New Zealand 3 2 3 3 0 Union of Australia 15 14 0 15 15 0 Western Australia 2 19 3 3 0 <1 Bank N.Z. Mortgage ... do. (fully uaid) ... 16 I 8 9 0 1 8 6 National of N.Z 7 3 6 E 5 6 INSURANCE— National of N.Z 16 o 16 4 New Zealand Q <7 3 2 7 South British 3' 4 4 3 b Standard 3 3 0 3 4 0 Queensland 3 3 6 3 0 LOAN AND AGENCY— Dalgety and Co 15 5 6 15 7 0 National Mortgage 4 7 9 4 8 9 Goldsborough Mort. 2 11 3 11 8 SHIPPING— Howard Smith 1 4 9 1 9 Huddart Parker 2 8 3 8 6 Union 5i p.c. Cum. pref. 1 0 6 1 1 0 P. and 0. Stock 3 2 0 3 4 0 New Zealand ... - ... 9 12 6 10 10 0 FROZEN MEAT— Canterbury 9 0 0 9 10 0 N.Z. Refrigerating 7 10 8 do. 20s paid 17 0 19 b WOOLLENS—

Kaiapoi (pref.) Mosgiel Wellington 14 10 0 0 15 7 10 6 10 6 0 0 7 S 6 6 COAL— Westport 1 9 0 1 10 0 Westport-Stockton — 3 5 Taupiri 1 6 7 1 7 0 GAS— Ashburton 5 11 6 6 2 6 Christchurch 1 6 6 1 6 9 Timaru 1 4 0 1 5 0 Auckland 1 4 4 1 4 9 Wellington 1 7 3 1 7 6 Auckland 1 2 7 1 3 BREWERIES— Carlton 2 10 6 2 11 0 Crown 13 0 Manning 19 9 1 0 New Zealand 2 17 3 2 18 0 W ard 2 3 0 2 4 (1 Monteith 1* 1 6 1 5 0 Tooths 2 7 6 2 8 0 Staples 2 3 0 2 4 0 CEMENTS— Wilson’s 2 1 9 2 3 0 TIMBER— Kauri 19 6 1 0 0 MISCELLANEOUS— Beath and Co 1 17 9 1 18 6 British Tobacco 2 (j 6 2 7 0 Burns, Philp 2 5 6 —— Colonial Sugar 58 17 6 59 2 6 Dunlop Rubber 1 7 9 1 8 0 Elect. Zinc Pref. : 1 17 0 1 17 6 Holdens 1 9 0 1 10 0 N.Z. Drug -Co 3 13 7 3 17 0 N.Z. Farmers’ Co-op. ... 82 0 0 83 II N.Z. Sugar of Milk 1 6 0 1 6 0 Whitcombe and Tombs.. 3 15 0 3 16 0 Dom. Home Bldga. 1 6 6 0 D.I.C. (pref.) 1 0 0 1 2 0 D.I.C. (ordJ 19 3 1 <i 0 N.Z. Guarantee Corp. ... 8 >) 8 8 Quill Morris 16 0 17 0 Crystal Palace ... ... Auckland Amusement 1 0 l(i 0 0 17 0 ‘ Victoria Nyanza 2 5 0 2 6 0 MINING— Mt. Lyell 2 1 8 2 2 6 Waihi 14 10 15 o ; Blackwater ... • •• Alexanders (fully paid) 3 6 3 9 15 0 17 A B Ohinemuri 7 1U 8 0 1 Mahakipawa 1 ' 3. s