THE WORLD OF COMMERCE

New Zealand Times, Volume LII, Issue 12198, 24 July 1925, Page 6

THE WORLD OF COMMERCE

WELLINGTON STOCK EXCHANGE YESTERDAVS QUOTATIONS GLI& cun. Call! Tnsterdny'fi closing qtmt&tfan* for pro* miums nf investments and mining .stock** as advised by the Wellington Stock Exchange. are as follow:

+Oum div. *Premium. Sales reported: Bank of New Zealand* £2 16s; Abraham and Williams (ord.), £A\ 3s 6d. SALES IN OTHER CENTRES. Per Press Association. AUCKLAND, July 23. Sdlee on 'Change.—New Zealand Breweries (debentures), 22s 3d; Bank of New Zealand, 56s 3d. Sale* reported.—Union Bank, «ei4 17s 6d; Waihi, 25s 9d. - Seles.—Commercial Bank of Sydney, £6 11s; Bank of New Zealand, ss; Union Bank of Australia, .£l4 l<s 6d; Waihi* 25s 9d. CHRISTCHURCH, July 23. Sales reported.—National Bank of New Zealand, .£6 11s; New Zealand Government 4£ per cent. Bonds (1938). £97. Sales xeported.—National Bank of Australasia (£5 paid), .68 8s; Bank of New Zealand, 55s 6d; Manning Brewery, 38s (five parcels). DUNEDIN, July 23. Sales. —Dominion Rubber, 48s 6d, 49s (two); St. Bathans Gold Mining, 10s 9d. MINING NE%S WAlfil , GOLDMINING COMPANY REDUCTION OF CAPITAL. Advice has been received by cable from the bead office of the Waihi Gold Mining Company, London,.that shareholders have approved the suggestion of the directors that the capital be reduced by 5s per share. This will bo the second reduction, as already 10s per share has been returned to shareholders. As the Law Courts in England close for the long vacation, the application cannot be made until October! "It is intended to call general meetings t-o consider, and if thought fit. pass the necessary resolution to give effect t 6 the wishes of shareholders. To pay back 5s per share will absorb £125,000, which will probably be drawn from investments, which at latest market value 6tand at <£383,612. This does not, however, include the .£212,500, the p'rico for which the Waihi Company sold to the New Zealand Government the hydro-electrical works at Horahora, which is not due until 1931. The book value of this investment is shown at £159,535. LONDON WOOTSALES NEW ZEALAND OFFERINGS. Australian and N.Z Cable Association. (Received July 23. 11.20 p.m.) LONDON, July 22. At the wool sales New Zealand offerings golds as follow: —Cheviot Hills, 22$d, :20a; Longridge 16£d, 15£d. LONDON APPLE MARKET WEAK Australian and N.Z. Cable Association. (Received July 23, 5.5 p.m.) London, July 22. The apple market is weak, owing to the enormous supplies of British and Continental soft fruits, and to the fact that retailers are well stocked with apEles they purchased at higher prices beore the decline. The Raranga's New Zealand Sturmers realised 14s to 16s, Doughertys, woods and Tates 14s to 15s, Washingtons and Statesmen 12s to 14s. ROMNEYS AND MERINOS A VALUABLE SHIPMENT NEW ZEALAND SHEEI> FOR UNITED STATES. A valuable shipment of stud sheep— Romney rams, ewes in lamb, ewe hoggets. and merino rams—was made from Wellington to San Francisco by the Tahiti. It is understood that "this is the first shipment of sheep that has been made to the United States since the Panama Exposition, when New Zealand breeders of both Corriedales and Romneys sent forward sheep for exhibition. According to Air C. E. Robertson, who acted ns commissioner for the New Zealand Romney Marsh Association at the recent Pacific International Show at Portland and Oregon, descendants of the 1 New Zealand Romneys exhibited on that ’ occasion, won all the prizes at Portland,! and California and Oregon breeders were anxious to still further improve their wool, both in quality and yield, by additional importations of Romneys from I New Zealand. The Romneys forwarded by the Tnhiti, and which have been shipped to Dr. E. Bmmwell, of Snn Francisco, are particularly good-woolled sheep.

carrying dense fleeces of soft handling wool crimped right out to the tip. It would haraly be possible to secure better woolled sheep. Both ewes and . rams were of the low set modern New Zealand type, and all were exceptionally well covered over the heads. Thev should prove very attractive and reliable sheep to the breeders of the Northern Hemisphere. The sheep were entirely selecta from the well-known Merriwee stud of Mr S. J. Goulter, Haumoana, Hawke’s Bay. By the same boat, Messrs Wright, Stephenson and Company, Ltd., also shipped to Dt. Brownell three one-shear merino rams, bred by Mr Charles Goulter, of HawkesbuTy, Marlborough. These were three rams of exceptional quality, carrying fleeces of beautiful high-yielding wool of good length. It is stated that great interest is being evinced in the United States in this shipment, and it is to he hoped that the sheep land in good order. A further shipment of Rpmney, Lincoln and Corriedale rams was also made to South America this week by Messrs Abraham and Williams, Ltd., by the Port Melbourne. This shipment cornpriced 12 Lincoln rams and hoggets, bred by Mr L. Wilton, Masterton; 18 Corriedale ram hoggets by Messrs H. T. Little, Hui Hui, North Canterbury, and L. Storry, Leeston: and six Romney ram hoggets bred by Messrs J. A. Mtichell, Longburn, and Voss Bros., Tiakitabuna In the case of the Romney and Corriedale rams, it is interesting to note that these are repeat orders. LONDON TALLOW MARKET The Bank of New Zealand, produce department, has received the following advice from its London office under date 22nd instant:— "Tallow.—There is a fair demand. Current quotations: Good mutton, 47s Cd in 48s per cwt; good beef and mixed, 46s fid to 47s per cwt; gut, 3Ss to 42s -per cwt." Dalgety and Co., Ltd., report having received the following cablegram flora their London house, under date of the 22nd instant: —Tallow—1290 casks of tallow offered, 630 casks sold. Prices are unchanged to 6d lower. The decline in prices is chiefly in inferior qualities. DAIRY PRODUCE New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from their London house under date 22nd instant: —New Zealand dairy produce: Butter, New Zealand, choicest, salted, 194 s to 196 s per cwt; New ‘Zealand, choicest, unsalted, 194 s to 198 s per cwt; cheese, 108 s to 110 s per cwt. Messrs Joseph Nathan and Co.. Ltd., have received the following cablegram from their London house, dated July 22nd, 1925: —New Zealand white cheese, 110 s; New Zealand coloured cheese, 109 s; market quiet. New Zealand butter 1945, 1965; market quiet, firm. CUSTOMS REVENUE. The Customs revenue received at the port of Wellington yesterday aggregated .£9690; S. George Nathan and Co., Customhouse Q[uay. Wellington, Chief City Agents tor Phoenix Assurance Co., Ltd., 235, Lambton quay.—Advt.

Roma Saltern £ a a £ a. a. N.Z. Govt Loan*— Inscribed Stock (1909) 97 0 0 Inscribed Stock (1938) 97 0 0 97 » Inscribed Stock (1933) — 101 10 0 War Bonds (1939) 97 0 0 War Bonds (1938) 97 0 0 War Bonds (1930) 97 0 0 — P.O. Bonds (1927) i 98 7 6 — Debenture* — N.Z. Breweries (Bonds) 1 2 2 1 2 6 Bank*— Australasia . Commercial of Aus14 10 6 - 6 tralia (ord.) 1 10 4 +1 11 National of N.Z. ........ 6 10 9 New South Wales * 41 2 6 « 7 6 9 IS 0 2 15 9 Union of Australia ... +14 17 6 Victoria 7 10 0 +7 12 & Financial— Equitable Building »« 8 IT « 3 16 National Mortgage ... N.Z. Loan and Merc. — 0 (pref.) 77 10 0 Wn. Invest. T. and A. +0 10 3 Wn. Trust and Loan 6 0 0 e r « Gas— Auckland (paid) 1 3 3 —a 7 16 0 r is 9 Insurance— 8 17 0 3 18 0 New Zealand fl 15 0 South British — 2 10 0 Meal Preserving— N.Z. Refrigerating <J61> _„ +0 19 0 Gear Wn. Meat Export (J63 2 2 9 6 12s 6d) Transport— 1 8 2 3 Huddart-Parker (ord.) 2 4 4 0 Union Steam 1 0 0 Woollen— Kaiapoi (ord.) 0 13 0 Kaiapoi (pref.) —- 0 16 0 Kaiapoi (contrib.) — 6 0 0 5 6 Wellington (ord.) Wellington (pref.) 6 4 6 S n Coal— Waipa — 1 2 9 TimberKauri 1 12 7 1 13 0 I-eyland O'Brien 3 16 0 — National 1 2 0 — Breweries — 2 1 0 Ward and Co. 2 18 0 Miscell aneoufr— British Tobacco (Aust.) (ord.) 2 3 6 — Burns, Philp and Co. 1 15 6 1 16 3 MO (ord) •0 5 0 — DIC (pref.) 1 0 6 Electrolytic Z i n o +1 11 0 N.Z. Drug (cont.) •0 8 0 Taranaki Oil Fields ... 0 17 0 — Mifling— Mount Lyell 1 0 9 1 1 6 Eclipse Gold Claims ... — par