COMMERCIAL

Greymouth Evening Star, 26 November 1929, Page 9

COMMERCIAL

AUCKLAND REVIEW (Special to “Star.”) AUCKLAND, Nov. 23. Another quiet week for Auckland brokers concluded on - Friday night. Timber has been quiet and wool almost completely neglected with coal still firmly held. Buyers of Taupiri have eased 1/- since the dividend was paid, and Pukemiros have advanced with buyers at £3/11/-. Renowns are still in daily request and several sales have taken place at 17/- for £1 shares. This indicates a welcome confidence as the company is a comparatively new one and still has to reach the dividend earning stage. It is reported that Hikurangi which was badly flooded in winter just when payable mining operations were in sight is again almost clear of water and that coal winding n?ay begin next week. Auckland gas* has been very steady all the week, with sales at £l/5/-. The small local gold mines have had the usual tentative inquiries at low rates with no business resulting, and the bulk of the sales have been credited to' Waihi, with a single to Mount Lyell. There has been little alteration in values. Week-end quotations are: —Coal: Grey Valley buyers 26/3, sellers 28/-, Hikurangi Coal 1/6, A pref 3/6, sellers 5/6; Pukemiro 72/-, Renown 16/8, 17/6; pref 3/2j 3/6, new oissue 2/10; 3/3; Taupiri 28/6,i pref 23/6, Waipa (sellers) 14/6, Westport 32/6, Westport-Stockton (sellers) 3/4. Timber: Bartholomew 20/9, Kauri 15/- —17/6, Leyland O’Brien (sellers) 32/-, National'B/3...8/10, Parker Lamb (sellers) 17/9. Mining: Alburnia 4gd, (sellers) 1/-; Ohinemuri 9/6 —10/6, pref (sellers) 11/-; Waihi 12/6 —12/7, Grand Junction 1/2 —1/4.

WESTPORT COAL COY.

DUNEDIN, November 25

The annual general meeting of the Westport Coal Coy. was held this afternoon. The Chairman of Directors, Mr G. L. Denniston, presided, and about 60 shareholders were present. The report and balance sheet, as submitted to the shareholders, was adopted. The re-election of the retiring directors, Mr George Black and Mr W. Downie Stewart M.P., was carried. Mr C. H. Statham and Mr J. S. Hislop were re-elected as auditors.

OILFIELDS REPORT.

GISBORNE, November 26.

Taranaki Oil Co’s report: — Gisborne No. 2 Well, engine and boilers on site; good progress “has been made towards completion of erection work.

Katuma: No. 1 test hole drilled to 500 feet. It is sandy shale. Work delayed by ’bad weather, and the difficulty of transporting supplies. STOCKS AND SHARES. DUNEDIN, November 26. ' Sales on ’Change, Kildare 1/6 (two). AUCKLAND, November 26. Sales: Taranaki oil 4/1. Reported: Mt. Lyell 42/6, Wilson Cement Cum. Div. 42/9, Dalgety £l3/12/-, Bank of New South Wales, Sydney Register £47/15/-. WELLINGTON, November 26. Reported sale: New Zealand Breweries 88/-. AUCKLAND, November 26. Additional sales on ’change: National Timber 8/4, Waihi 12/10, Auckland Gas 25/. 1 WOOL SALES. AUCKLAND 'PRICES FIRM. (Per Press Association.) AUCKLAND, November 25.

Presenting by far the largest catalogue of the season to date, Auckland’s opening wool sale this evening attracted keen interest from full benches of buyers. Compared with this season’s preceding sales at Wellington, Napiei' and Wanganui, the market was accounted good, although inclined at times to be a little erratic. Generally described, the market was firm, without any change on the fortyeight and lower grades; while a slight easing—but without quotable change —was evident in the case of the fifties and finer sorts.

The catalogue totalled 17,225 bales, a decrease of 5042 bales on the offer; ing at the first sale in Auckland last season. Germany was the principal buyer. The German interest was principally in the inferior wool. France and England operated with reserve. Indeed Bradford purchases were mainly restricted to one firm. There was fair competition from Russia, which wanted finer sorts. One firm also bought freely on behalf of Tasmanian mills, which wanted better class spinning wool. The offering was inclined to be a little heavier than was the case at Auckland a year ago, but was on the whole, lighter than at Wanganui last week. The top price, at a late hour, with three out of five catalogues cleared was 181 d for four bales of extra-super corriedale. The sale will continue into the early hours of the morning. SYDNEY MARKET. (By Cable—Press Assn.—Copyright.) SYDNEY, November 25. At the wool sales to-day, 8606 bales were sold. There was a firm market for good quality lines, and an easier tendency for faulty ones. Greasy merino brought 261 pence. HOMELAND REPORTS. LONDON, November 26. At the wool sales 10,967 bales were offered, including 3224 New Zealand. There was a moderate offering of greasy merinos suitable for all sections, with a plentiful supply of scoured. A fair lot from New Zealand, mostly half-breds. Steady market, with prices unchanged. Greasy crossbreds Castle Hill 131 d and 13Jd, Mesopotamia 151 d and 143 d. Bradford: Tops market slow. Quotations slightly easier all round. BUTTER AND CHEESE. The New Zealand Dairy Produce Board has , received the following market report from its London Office, l dated November 22: — Butter: New Zealand Salted 169/to 174/-; Unsalted 186/. to 190/-; 169/to 174/- equals approx 1/43 f.d.b. Ist whey 162/-, second whey 160/-. Deliveries New Zealand this week 1461 tons. In store New Zealand this week 4524 tons. Australian Salted 163/to 172/- ex. 173/-; Unsalted 178/182/-; Argentine Unsalted 174/76/- ex. 178/-;

Irish Cream Salted 171/172/-; Unsalted 176/178/-; Danish 185/- f.0.b., 190/spot; Dutch Unsalted 192/194/-; Siberian 166/168/s Ukranian 162/164/-; Polish 150/164/-. Market quiet. Retail prices unchanged. Cheese: New Zealand white 95/96/-; Coloured 93/94/- ex. 95/-; Deliveries N.Z. this week 14,331 crates. In store N.Z. this week 23,414 crates. 93/96 equals approx. 82d f.o.b. Canadian White and Coloured 96/98; c.i.f. 93/-. Deliveries Canadian 24,804 boxes in store. Compared last year 22,362 boxes in store. English Finest Farmers 104/112/-. Market firm. Retail prices unchanged.