COMMERCE AND MINING

New Zealand Times, Volume L, Issue 11438, 7 February 1923, Page 10

COMMERCE AND MINING

THE STOCK EXCHANGE MARKET A LITTLE BRIGHTER TWO SALES REPORTED. Business -eenis to bo brightening up on the Stock Exchange just now, and yesterday two sales were rejxjrted. In the morning Waihi mining .-Imres changed hands at At 12s. while in the afternoon National Insurance shares were bought (or Al 3 Ids (id. Doth prices are good, and are above the usual buyers quotations. Government Stock still commands excellent attention from the buyers, but out of the nine lots on the market yesterday there were only two sellers. War bonds (1933), which are now 10« above fare value, rose 2s 6'l yesterday, but all other classes were the same except P.O. bonds maturing in 1927, which fell ss, making -697. Banks arc still a centre of interest with prices firm, but financial companies are not receiving much attention at present, and only two quotations appeared on yesterday's list. New Zealand Loan and Mercantile 5 per cent, cum preference stock was in demand yesterday at -673, and the ruling selling quotation, according to the latest monthly list, was -678, Nevertheless the highest price for the five sales of this etock during the last six months has been .£73. There was a lull in the offers for gas shares yesterday, and the only quotations appearing were the Wellington shares, which are firm and unchanged. Insurances show no change, and meat shares, especially Gears, are commanding good prices. There is no alteration in shipping shares, and coals are fairlv quiet, while the same might be applied Io timber. Miscellaneous companies are receiving the usual attention, and altogether there is every indication that there will be a fair number of transactions in the near future. WEUIN3TON EXCHANGE TUESDAY’S QUOTATION'S. (3.15 p.m. Call.)

•Cum Hiv tEr div. Sales reported :—Waihi Mining, J6l 12e; National Insurance, £3 12s 6d. SALES IN OTHER CENTRES. Per Press Association. CHRISTCHURCH. February 0. Sales reported:—National Bank, -86 7a 6d; New Zealand Insurance (cum div.), 28s 3d; Kaiapoi Woollen (10s paid), 12s 9d; New Zealand Drug, -62 16s 6d; Standard Insurance, -81 Me 3d; New Zealand Farmers’ Co-operative, .1926 (74 fair cent, bonds), J 696. DUNEDIN, February 6. Sales on 'Change :—National Electric, 20s; New Zealand Paper Mills (new issue), 23s 6d. AUCKLAND, February 6. Sales on 'Change:—South British Insurance, 38s 3d; Wailti, 325; Bycroft, Ltd., 21e 3d; Milk Products, 275. Sales:—National Bank, -66 8s; Auckland Gas (ex div.). 24s 3d; Moanataiari, 3s 10(1; Waihi, 325. FOREIGN EXCHANGE RATES

kustralian and N.Z. Cable Association (Received February 6, 11.30 p.m.) LONDON, February 5. Following are the foreign exchange rates current to-day compared with those of February Ist, and par respectively:— New York—4.67} dollars, 4.66} dollars, 4.86. Montreal—4.72 dollars. 4.71 J dollars, 4.86. Paris—7l.3s francs, 78.60 francs, 22.225. Berlin—l9o,ooo marks. 195,000 marks. 20.43. Rome—97/ lire, 98 1-5 lire. 22.225. Calcutta— 16}d, 16|d, 24d. Yokohama—24jd, 25d, 241 d. Hongkong—26}d, 27|d, —. Stockholm—l7.s6 kroner, 17.40 kroner. 18.159. Christiania—2s.lo kroner 24.97 kroner. 18.159. Copenhagen—24.7o kroner, 24.40 kroner. 18.159. Calcutta exchange reckoned on the rupee. Yokohama on the yen, Hongkong on the dollar; the remainder on the pound sterling. PRICES FOR METALS (Received February 6. 9.40 P.m.) LONDON, February 5. Copper—On soot, -665 6s 3d; forward delivery, .665 18« 9d. Lead—On soot, -628 26 6d; forward delivery. J 627 15s. Spelter—On soot, F 135; forward delivery, £34 2« 6(1. Tin—On spot, £lB2 18s 9d; forward delivery, £lB4 18s 9d. Silver—3o 13-I6d. WHEAT PRICES (Received February 6. 11.5 p.m.) LON DON, February 5. The market for Wheat cargoes is steady, but irregular. There is a small demand for nearby stuff, hot the Continent is not buying owing to fluctuations in tbe exchanges. Parcels are steady. CUSTOMS REVENUE. The Custom- revenue received at Wellicgton yesterday totalled £6036.

HOME WOOL SALES Australian and N.Z. Cable Association (Received February 6, 11.5 p.m.) LONDON, February 5. At the wool sales a poor selection of merinos and an average selection of crossbreds were offered. There was brisker Continental competition for all claeses, and prices were firm. At Bradford small business was done, the topmakers slightly easing quotations. A few spot lots were offering at rather under market quotations. Messrs Murray, Roberts and Co., Ltd. ere to-day in receipt of a cable bram from their London agents dated the sth instant, as follows:—"Market firmer. Continental buyers operating more freely. Greasy merino wobl, suitable for Continent, advanced 5 per cent." HOME MARKETS BUTTER AND CHEESE. The National Dairy Association of New Zealand, Limited, hate received the following cablegram from their London office dated. F'ebruary 3rd, 1923: "Butter.—Market declined slightly, due to arrival of several steamers. New Zealand, 6alted, 194 sto 1965; Unsalted, 198 s; Australian, salted, 190 s; Danish (slow), 2045. Cheese—Market quiet. White and coloured, 126 s to 1285." CHEESE PRICES LOWER. Dalgety and Company, Limited, report having received, the following cablegram from their London house under date of sth instant:—"Cheese: Since our last report prices are lower by 45." MELBOURNE WOOL SALES . By Telegraph.—Press Assn.—Copyright. (Received February 6, 7.20 p.m.) MELBOURNE, February 6. The February wool sales opened with a strong demand for the better classes ot merinos. Prices were fully equal to late rates, but ordinary and inferior qualities of merinos and fine crossbreds declined, about 5 per cent, SYDNEY WOOL SALES (Received February 6, 9.40 p.m.) SYDNEY. February 6. At tbe wool sales the selection of offerings was good, and bidding very keen, all countries operating freely. Late rates were well maintained.

Buyers. Sellers. Ji a. d 4 a. <1. Mining— fVaihl 1 11 9 1 12 3 War Loans— Inscribed Stock (1939) 97 0 0 __ 6 Inscribed Stock (1938) 97 0 0 97 12 Inscribed Stock- (1933) — 100 15 0 War Bonds (1911) 97 0 0 — War Bonds (1939) 97 0 0 — War Bonds (1938) 97 0 0 — War Bonds (1933) 100 10 0 — P.O. Bonds (1927) 97 0 0 — P.O. Ins. Stock (1927) 97 0 0 — BanksNational 6 7 6 6 8 3 New South Wales ... •37 0 0 — New Zealand — 2 18 0 Union — +13 18 0 Financial— Goldsbrough Mort ... N.Z. Loan and Merc. 2 5 6 — (cnra pref.) Gas— 73 0 0 Wellington (.£10) •11 7 6 Wellington (pref.) 0 16 0 — Wn. Debentures 103 0 0 106 0 0 Insurance — National 3 12 0 New Zealand n 8 8 — Meat Preserving— 1 18 6 Wn. Meat Export (JE3 12s 6d) Transport— 2 18 0 ” Adelaide Steam 1 0 0 — Huddart-Parker (ord.) 2 14 6 — Huddart-Parker (pref.) 1 0 0 — P. and O. Def'd Stock 315 0 0 — C’oal — Westport 1 16 0 Waipa 0 16 6 — Timber — Leyland O’Brien 1 13 0 _ Miscellaneous— C. M. Banks (ord.) ... 1 2 6 _ Burns Philp 1 11 9 — Crown Brewery Dental and Medical 1 19 0 — Supply — 1 3 0 Howard Smith 2 11 3 — Manning and Co National Electric 1 0 0 4 7 6 W.F.C.A. (pref.) — 0 17 3 1 6 4 Milne k Choyce Deb. Wn. Racing Club Deb. Hayward’s Pictures ... 1 2 6 1 4 0 106 15 0 — — 0 15 0