COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18381, 23 April 1923, Page 5

COMMERCIAL.

. LONDON MARKETS. Australian and N.Z. Cable"'Association. (Eecd. 5.5 p.m.) LONDON, April 21. FROZEN MEAT. , Sheep.—Canterbury, light Sid. medium Bd, heavy 6id: North Island, light Sid, medium TJd. heavy 6Jd; New Zealand ewes, 5Jd; Australian, firsts 5Jd, seconds aid; ewes, 4}d; Argentine, light 6id, heavy sjd, ewes 4}d. ■. ( ".' Lambs.Canterbury, light and medium 11 }d. heavy Hid. seconds 10id. other selecteda, both light and heavy. Hid; 'North Island, firsts 10* d, seconds 9}d; Australian, firsts 9{d, seconds B*d, thirds Bd.; Argentine, firsts both 9id, seconds Bd. Chiliad Beef.—Argentine, fores -"ild. hinds s}d; Uruguay, fores 2;d. hinds 4§d; others unchanged, HEMP, COPBA, RUBBER. ETC (Last week's prices in Parentheses.) Cotton. delivery, 14.50 d <15.6 d). Rubber.— Is 3id (la lid): plantation and smoked, Is 4d (Is 2|d to Is 2«d). Jute.May-June shipments. £30 (£23). Hemp.—-June shipments, £32 10s (£32 10s). April-May shipments, .£29 (£29 15s). Linseed OH.—£s2 (£52 lOe). Turpentine.—£s 10s 9d (£5 lis 3d). Wheat.—Cargoes are firm, and rather dearer on firmer American advices. Parcels advanced 3d to 6d. Australian are quoted at 52a 6d.

BANK OF NEW ZEALAND. RISE IX PRICE OF SHARES. [BT TELEGRAPH. OWN .CORRESPONDENT.] CHRISTCHURCH. Sunday. The Bank of New Zealand* shares are attracting the attention of speculators, and ? rices have risen sharply in Christchurch. n the. past week they have advanced by 3» a share. Following a period of steady hardening twelve months ago buyers were prepared to .do business at 50s a share. Sales were made to-day at 61s 9d. The bank's financial year closed on March 31 and the attention its, shares are receiving 13. dne to an anticipation that at the annual meeting the capital will be increased, possibly by a distribution of the reserves or by the issue of new capital at a lower price, to the existing shareholders. than the market rates. This anticipation appears to be purely in the realms of surmise, for no hint has been given by the directorate that it # contemplates any such action. Those seeking to acquire shares of the bank doubtless have in mind that other banks in the past few years have found it necessary to acquire fresh capital, and that in the ordinary course of things the Bank of New Zealand may follow suit.

AUCKLAND QUOTATIONS. Quotations of Bank of New Zealand shares have been rising for some ■weeks past on tie Auckland Sharemarket. Th« increased rates are attributed, as in Christchurch. to rumours that the hank's capital is likely to be increased, or that a new issue of shares is to be made, on terms favourable to present shareholders. At the end of September the selling price of the shares in Auckland -was 55» 3d, and the buyin? price 54s 6d. These rates gradually - increased until, at the end of March, buyers were offering 5Ts, with sellers at 57s 3d. On April 11 business was done at 57s 3d, and since then there had been a sharp advance. On Saturday there were buyers at 61s. and sellers were demanding 62s 6dCompared with the rates ruling .in September, therefore, the present buying price shows a rise of 6s 6cL

LONDON WOOL SALES. The New Zealand Loan and Mercantile Agency Company, Ltd-, have received the following cablegram from the London house under date Aoril 18: —The following dates have been filed for this year's London wool sales: June 26. September 11, October 23, December 4.