TRADING MORE ACTIVE

New Zealand Herald, Volume LXXVI, Issue 23471, 7 October 1939, Page 7

TRADING MORE ACTIVE

RISE IN SHARE LEVELS STATE LOANS HARDEN AUSTRALIAN OUTLET CLOSED Investors have quickly overcome the initial effects of the outbreak of war upon their operations and the brisk paco of business on the Auckland Stock Exchange throughout this week was reminiscent of less troublous times. Trading not only covered a much wider range, but major price movements in the increased turnover were generally in holders' favour. One reason for the increased buying! support, no doubt, is to bo found in the cutting off of the Australian market to any new capital from the Dominion, although the buying of securities by those with funds in the Commonwealth is still proceeding. The closing of the Australian outlet has thrown additional funds on to the local market, whero already an improved tone had developed following the favourable reception of the war taxation measures. According to the official journal of the Stock Exchange, the new taxation is not as heavy as was anticipated in some quarters, but there is, nevertheless, genuine disappointment in .the failure of the Government to indicate any-economies in its own departments. There was a further strengthening in the market for State loans, although, in view of the legislation brought down during the week, this cannot be credited to any increase in the popularity of the Government. Dealing, however, was active at firming levels. Following is a comparison of the levels ril hng a year ago for a selected number of Government loans, compared with tljose of the last two weeks: — 4

Oct. 7 Last This 1038 Week Week Slock, 15/1/53-57, 3% 03 00 00* Ditto, J 5/4/40-10, 4 . 101% 07% 08 Ditto, 15/0/52-55, 4 . 100' A 05* 00 'Buyers. The proposal to turn the Reserve Bank into a fully-fledged State institution caused no obvious reaction in Bank of New Zealand shares, which subsequently advanced to 39s 6d, a gain of 6d. Nationals of New Zealand and Commercials of Australia were also a little firmer over the period. Features of other sections of the market were a renewed inquiry for pastoral shares, a rapid rise in breweries, and a recovery in tlic leading industrials. Retail stores were irregular, Coles particularly losing some ground. The following comparative table shows levels during the past two weeks compared with the highest and lowest prices since the opening of the year:—

AUSTRALIAN WOOL BRITISH PURCHASE PRICE 13D TO 14D PER LB. SUGGESTED MELBOURNE, Friday It is stated that a price of between 13d and 14d per lb. will be paid by Britain for Australia's wool clip, but no official statement on the price is available yet^ SOUTH AFRICAN SUPPLY SALE TO UNITED KINGDOM (Received October 0, 11 a.m.) PRETORIA, Obt. 5 It is officially stated that Britain has agreed to purchase a considerable percentage of the Union's wool at a price similar to that paid for Australian, THE CITY MARKETS ■ APPLES IN DEMAND FAIR SALE FOR GRAPEFRUIT

Good coloured apples met n steady demand at the City Markets yesterday, values for the Granny Smith variety being particularly high. There was a good inquiry for the few tree tomatoes offering. The market for choice lines of New Zealand grapefruit was only fair. Heavy supplies of cabbage and cauliflower made firm rates. New potatoes came forward in good* quantities, with a largo proportion of poorer lines. The j sale was good for choice quality. Hothouse beans and green peas were keenly sought. Prices were: — FRUIT Apples, Tasma, 14s to IGs a case; Delicious, 10s to 13s; Dougherty, 9s to 13s; Granny Smith, 14s to IGs (jd; Sturmer, i)s to lis Oil; pears,. Peter Barry, 10s to JL's Od; Winter Nelis, 12s to lis Od; tree tomatoes, new black, I:2s to 14s; others. No. 2. 7s; grapefruit, Now Zealand, extra choice, Os to Us; others, 4s to 7s; lemons, according to Kiado and count, 5s to 17s Od; bananas, ripo, '22s to 2!>s lid; grapes, Californian, black, 30s; passion fruit, us to 12s. FIELD PRODUCE Asparagus, Od to Is a bundlo; beet. Is to •2s Od dozen; celery, cooking, 3d to (id bundlo; dessert, S)d to Is (id; carrots, 7s to 13s Od bag, or Is Od to 2s Od dozen: cauliflowers. 3s Od to 7s sack; on benches, Is (id to 3s dozen; cabbages. '2s Gd to Os sack; on benches, Is to 2s dozen; cucumbers, 4s to 7s; beans, hothouse. Is to 2s per lb; green peas. 8(1 to Is 3d; kuifiaras, Island, 30s cwt.: leeks. 3d to (id bundle; lettuce, 2s (ill to lis CftSO; marrows, 5s to 7s dozen; onions, 10s to lis bag; potatoes, Sou!hern, 10s to His sack; Ohakune, Us to 12s Od; new, No. 1, '2YA to Id Hi; No. Id to 2d; pumpkins, choice Triumble. 30s to 35s Gd cwt.; medium, 20s to 255; parsnips, 5s to Os bag, or Is 3d to Is Od dozen- radish, Od to Is; rhubarb, 3s to 5s Od; spinach, S)d to Is Od; spring onions. Od to Is 3d bundle; swedes, Is Gd to 3s ban; turnips, Gd dozen; Brussels sprouts, 4d to Gd lb.

POULTRY Cockerels, heavy breeds, prime, 5s to 7s each; not prime, 3s to Is; light, prime. 3s to ss; not. prime, '.is to 3s ; fat hens, heavy. 4s to ss; iight, 3s (o 4s; laying hens, heavy. 4s to ss, light, 3s to 4si drakes, young, prime, os to (is; smaller, 2s to 3s; old, "Js to 3s; ducks, young. 3s to 4s; old, 2s to 3s; geese, 4s to ss; turkey hens, 5s to 7s; gobblers, Ss to 15s; cockerel chicks, heavy breeds. Id; light, y a d. BUTTER AND EGGS Eggs, ben, first grade. Is OVs<l n dozen; JB. Is 4Mill; C, 11 Mil; duck, first grade, Is (i'/ad; B, Is 6y a d; C, UVid. Farmers' butler. Is to Is 5d per lb. QUOTATIONS FOR TIN LONDON, Oct. 5 Tin is quoted at £230 a ton spot and £229 12s Gd a ton three months' delivery. LONDON MINING LEVELS ft LONDON, Oct. r> On the mining market Bulolo shares aro quoted at 93s 9d.

This Year Last This High Low Week Week Com. Bk. Aus. 10/10 14/2 14/11 15/Nat. Bk. N.Z. ■18/0 43/3 45/4 43/3 E., S. and A. 90/Bunk N.S.W... 570/Bank N.Z. 41/0 37/38/0 39/6 Union Bank .. 173/0 100/152/4 147/OJ Nat. Ins. 10/11 15/5 10/7 10/6* N.Z. Ins. 55/50/0 54/South British.. 45/3 45/44/6 Golds.-Mort . . 30/1 27/30/4 28/-" Pukcmiro 17/10/3 17/-J 10/31 Auckland Gas 10/0 15/15/3 15/N.Z. Breweries 31/32/0 35/3 Dom. Brew. .. 35/28/0 31/A.C.I. 40/9 30/0 30/0 Broken Hill .. 50/72/2 73/British Tob. ... 52/3 45/45/0 40/3* Bycroft 30/3 35/0 34/0 34/0* Col. Sucrar 010/070/-* 970/Dunlon Pordriau 22/18/2 18/2 18/3* El. Zinc (pf.) 59/3 40/0 01 /-i 57/3* Farmers' Trad. 20/3 10/7 10/-* 10/7 C. J. Coles .. 80/70/3 71/3 70/3 Wilsons Cement IR/t 15/4 17/17/3 Martha 12/0 0/0 0/-* 0/3* Mt. Lycll .. 35/3 20/0 30/0 30/9 *Buyers. +Sellers.