THE WORLD OF COMMERCE

New Zealand Times, Volume LII, Issue 12315, 9 December 1925, Page 8

THE WORLD OF COMMERCE

WELLINGTON STOCK EXCHANGE YESTERDAY’,3 QUOTATIONS (3(15 p.m. Call.) Yesterday’s closing quotations for premiums of investment and mining stocks, »» advised bv the Wellington Stock Exchange, are as follow: *

S. George Nathan and Co., Stock and Sharebrokers, members Wellington Stock Exchange. Tel. address: "Beta," Wellington.* , SALES IN OTHER CENTRES. Per Association. AUCKLAND, December 8. Sales on 'Change.—South British Insurance, 555; Tfcranaki Oil, 17s 3d, 17s; Wai'hi, 25s 3d; Bank of New Zealand, 58s 3d, Sanford (ordl), 19s 6d. Sales reported.—New Zealand Insurance, 38s; Colonial Sugar, £SB ss: Kauri Timber. 34e. Sales.—New . Zealand Government War Loan (1938). £96 5s (two sales); Soldiers’ Bonds (1933),, .£99 10s; New Zealand Inscribed Stock (1938), £96 ss: Commercial ■ Bank of Australia, 32s 9d: Bank of New South Wales, £4l 10s; National Insurance 79s (ex div); New Zealand Insurance 38s; Auckland Gas 23s (two parcels); Auckland Gas (con.), 6s 7d, 6s 8d (two sales); Pukemiro Collieries, 47s 6d;' Kauri Timber, 345; Colonial Sugar, £53 ss; Moanataiari, Is 4d; Kawarau, 6e 4d. CHRISTCHURCH, December 8. Sales reported.—Kawarau Gold Mining, 6s sd. 6s 6d, 6s 7d, 6s 6d (two parcels). Sales on 'Change.—Staples Brewery. 42s 6d (two parcels). Sales reported.—National Bank of Australasia (£5 paid), £8 12s; New Zealand and River Plate, 225; Manning Brewery, 445; N.Z. Breweries, 59s 9d. Sales on 'Change.—Huddart-Parker, 44s (four parcels). DUNEDIN, December 8. Sale reported.—Westport Coal, 325. jii ■<**.—New Zealand Paper Mills, 21s 6d (three( parcels); Blacks Goldminiug Company, 4s 9d (two sales). Sales reported.—Bank of New Zealand, 58s (three sales); Kawarau, 6s 5d (two 6ules).

ENGLISH MARKETS WOOL PRICES UNCHANGED. Australian and N.Z. Cablo Association. LONDON, December 7. At the wool sales there was a small offering of merinos and greasy crossbreds, but a good supply of slipes and scoureds. Prices generally were unchanged. New. Zealand “Wniouru/' 14}d, 18jd a. lb. Bradford prices are etill sagging, but with a rather better inquiry. Metals. —Copper, spot £59 6s 3d a ton, 'forward, .£6O 8s 9d; lead, £34 17s 6d and £34 7s 6d; spelter, £3B 15s and £37 15s j tin, £287 and £230 12s 6d; silver, standard 32 l-16d, fine 34 5-Bd, / WHEAT CARGOES FIRMER. (Received December 8, 5.5 p.m.) LONDON, December 7. Wheat cargoes finned 6d to 9d, with good speculative business based on the strength of American and Argentine markets. Parcels are scarce.'and prices have finned by 2s. Chicago futures: December,' new 1791 cents, old 1774; May, new 175 J cents, o.'il 1731; July, INIs. WELLINGTONCiTY LOAN "JUST ABOUT COVERED." (Received December 8, 8.5 p.m.) Australian and N.Z. Cabl Association. LONDON, December 8. The "Financial Times** states that «t is understood that tho Wellington loan is just about covered. Tho Wellington debenture issue of <£330.000, at 5 per cent, was underwritten at 98. NEW AUSTRALIAN LOAN FIVE MILLIONS AT 5 PER CENT. Bv Telegraph.—Press Assn.—Copyright. MELBOURNE, December 8. The Federal Treasurer (Dr Earl Page) has announced that tlid Loan Council i® floating a loan of JC5.000.0Q0, 5 per cent., at par. grainTndTroduce CANTERBURY MARKETS. Per Press Association. CHRISTCHURCH, December 8. - The grain and produce market is stagnant. The seasonal holiday development is certainlv not I cing affected by business activity in any branch of produce. Oats—There are more forward onts offering, and buyers can have their wanrsV supplied at 4 C 3d f.0.b.5.i., for B's AprilSeptembcr delivery, which figure, a week or two ago was o rthade below sellers’ ideas. It is stated that the crop in the south. provinces is satisfactory, and will offset'the light crops which are fairiv certain in this province. The Perenni.il ryegrass is one of few seeds that is attracting much activity, a fair amount of business packing nt Os per bushel for 27-28 lb eeed f.o.b.s.i. Italian is worth 4s

9d f.o.b.s.i. There is little movement in cowgTass, but cocksfoot is very dull.

TRANSACTIONS IN WOOL LARGE FRENCH PURCHASES. French buyers have been large purchasers at the Australian wool sales lately* says the "Sydney Morning Herald/' and French operators also bought keenly during the September sales in London, with both Germany and Switzerland, os well as Belgium lifting big weights of wool. Many people wanted to know why France was such an active buyer. French buyers in London admitted that they had to buy more wool than they anticipated, because of the non-arrival of their oversea purchases, due to the shipping strike in Australia and in South Africa in particular. At the same time, however, the Continent or France provided the largest operators in Australia.

One explanation is that French manufacturers appear to have received 6uch a large amount of orders for next spring that they have been compelled to cover extensively in yarns, and this has been reflected in the wool market. It is reported- that Roubaix-Tourcoing firms have secured, as they did last year, the bulk of the spring trade in dress goods.

AUSTRALIAN BUTTER OUTPUT PROSPECTS FOR THE SEASON. Encouraging reports have been received by the Dairy Produce Export Control .Board in Melbourne regarding produce tion in most of the Australian States. Advices from New South Wales report good rains in practically every dairying district, and further substantial rains have fallen in Queensland, where production is expected to increase rapidly.' Weather conditions in West Australia are favourable, and the total production is stated to be approximately 1500 cases weekly. It is expected that, if conditions continue to be favourable, the present output of that State will probably continue to the middle of December, and, thereafter, will begin to decline. Telegrams from Tasmania report a considerably improved ohtlook owing to the rainfall, hut the production, of butter is estimated at 25 per cent, below that of last season. Advices from South Australia, however, are not so encouraging as.those from the other States. Cooler weather conditions are reported, and production is said to bo stationary, although there is still a small exportable surplus. The percentage of lower grades is said to be increasing. HORDERN _ BROTHERS, LTD. YEAR'S PROFIT .£l4, 380. The report of Hordern Brothers, Etd., Sydney, for the year ended July 81st, shows a profit of *814,380, compared with J 811.467 for the previous period, which covered 17 months. With *82925 brought forward, *617,305 was available. A sum of *81428 was written off preliminary expenses, and two half-yearly dividends on the 9 per cent, perference shares absorbed *B9OOO, leaving *8687(5 to be carried forward The capital is *8325,000, in 100,000 9 per cent, cumulative preference shares and 225,000 ordinary shares. Ptfblic liabilities %re compressed in one item, "mortgages on freehold properties, sundry creditors and overdraft, *8176,481." The assets side of the balancesheet also contains two comprehensive items, "freehold and leasehold properties, furniture, fixtures, ■" fittings and plant, *8216,828/' and "cash, remittances, investments and sundry assets, *812,202." Stocks are down at *8189,509, and debtors *836,968. Goodwill is stated at *848,093. LOCAL PRODUCE PRICES Laery and Co., Ltd., report wholesale values as follow: Mixed fowl feed, 7s 6d per bushel, sacks in; linseed meal (Moose brand), 16s; linseed nuts (Moose brand), 14s; Meatmeal, for poultry, 13s per cwt; oyster shell grit or pi pi shell grit, 6s 6d per 1001 b; maize 7s, crushed -75.64 per bushel; oats, machine-dressed seed, Algerians 5s 9d, farmers' dressed seed, Algerians 4s lOd, crushed 5s 6d, Gartens 4s 9d to 5s 2d per bushel, sacks in; shelled oats, for chickens, 6s per bushel, sacks in; wheat, 8s 3d per bushel, sacks in; barley, 5s 4d to 5s 9d per bushel, sacks in; eggs, .first grade new laid 2s, storekeepers’ lines 1s lOd to .2s per-dozen; butter, farmers’ separator and dairy, Is 2d to Is 3d per lb; turkeys, Is to Is 3d per pound; ducks, runners 10s to 13s per pair, large white 13s to 15s; fowls, White Leghorns 6s 6d to 7s 6d, Black Orpingtons and similar varieties 9s to 12s per pair; fungus, 8d to9d lb; dressed pork, 60’s to 90's 8d lb, sucking pigs lOd to lid per lb; sucrosine, £l2; Molass meal, £ll per ton; Blenheim chaff, ton lots, £9 7s 6d per ton, sacks in; rock salt, 6s 6d per bag; Canterbury table potatoes, ton lots, .£9 to .£lO per ton. iholasses, in casks, 42s 6d per cask, in cwt cases 8s 9d per case; mutton birds, in casks of 500 birds, 7d pei 1 bird; bran, $-ton lots or over, £lO per ton; pollard, 1-ton, lots or over, £ll per ton; seed potatoes, Canterbury-grown Red Dakotas 8s 6d, Arran Chief 7s 6d, Gamekeepers 7s 6d per cwt; new potatoes, 13s to 15s per cwt. FEILDING SALE Dalgety and Co., .Ltd., Palmerston North, report having a fair entry of sheep and cattle at their Feilding sale on Friday, the 4th instant, which sold as below Fat ewes, 20s 7d, 21s 2d, 21s 7d, 21s lOd to 225; fat 2-tooths, 24s to 26s Id; 2-tooth wethers, 28s 4d; 2-tooth' wethers, 225; 2 and 4-tooth wethers, 24s lOd; 2-tooth ewes, 24s 2d; cows in milk, £6 ss; springing cows, £4, £4 10s to £6 10s; springing heifers, £3, £4 ss, £5 ss; store cows,'2ss; forward cows, £2 17s 6d, £3 ss; fat cows, £7; fat and forward p.a. bullocks, £lO Is. MININGNEWS WAIHr CRUSHING RETURNS.

Tho following, information has been cabled to London:—"For the period ended November 21st a total of 16,214 tons of ore were crushed for a result of 5428 fine ounces of gold and 45,556 fine ounces of silver, crushing results for 21 days. "No. 5 level: We have driven a fur-' ther 34ft north-west on the unnamed reef. The assay value is 142 s 6d per ton and the average width 3ft. No. 10 level: At 10ft m the north-west prospecting crosscut from the Edward lode we have driven to the north 16ft in quartz about 3ft wide. The assay value is 28s 9d per ton. No. 11 level. Edward lode: South from tho crosscut the next 9ft assays Is 9d per ton The vein has pinched out. Driving north from the crosscut the next 13ft .assays 9d j>er ton. < No. 13 level, Edward lode; Driving south the next 19ft assays 24s per ton. No. 14 level, Edward lode: We have commenced crosscutting at 80ft south. Measuring west from tho cent/e of the level the first 15ft assays 13s 3d per ton. Measuring east from the centre of the level the first 10ft is mostly country rock, assay value 2s 6d per ton. No. 15 level, Martha lode, south section : West of No. 4 shaft crosscut the last 30ft assays Is 6d* per ton.” CUSTOMS REVENUE. The Customs revenue collected in Wellington yesterday amounted to .89770.

1 Miners. Sellers. Ji d. M d. N.Z Govt. Loans— Inscribed Stock (1939) 96 0 0 96 7 0 Inscribed Stock (1938) 96 0 0 96 7 6 Inscribed Stock (1833) 98 0 0 Inscribed Stock (1927) — 98 0 0 Inscribed Stock {1941) 98 0 0 War Bonde (1939) 96 0 0 War Bonds (1938) 96 2 6 War Bonds (1930) 96 2 6 War Bonds (1933) 99 0 0 — Debentures— Wellington Gas 103 0 0 N.Z.. Breweries (bonds) 1 5 0 Gisborne Sheepfarmers — 102 0 0 Banks— Australasia 14 Commercial of lustra0 0 - ha (ord/) 1 12 6 1 13 6 National, of N.Z 6 15 6 New South Wales 41 10 0 42 0 0 New Zealand 2 17 6 Union of Australia ... Jblnglish, Scottish, and — 15 0 0 Australian 7 Financial— 8 9 N.Z. Guarantee Corp. (ord.. 8s) • — 0 10 0 Wn. Trust Loan 6 7 e — Gas— Auckland (paid) 1 2 9 Wellington (ord.) — 13 7 6 Insurance—* National 4 0 0 South British 2 14 s Meat Preserving— Wellington Meat Exp. (calls paid) — 1 11 0 Transport— Huddart-Parker (ord.) 2 3 9 2 4 3 Union Steam (pref.) ... 1 P. and 0. Deferred. 0 0 — •250 Coal— Westport 1 12 6 Waipa — 0 13 0 Timber— Ley land O'Brien 3 0 0 National ... i 3 0 Breweries— Manning and Co. ...... 2 4 0 2 5 0 N.Z. (Breweries 2 19 9 3 0 3 3 Ward and Co *4 3 Miscellaneous— Burns, Philp and Co. 1 17 0 1 18 0 Electrolytic Zinc 6 N.Z. Drug 8 Wairarapa Farmers* 6 0 - (pref.) 0 17 0 — Wilson’s Cement 1,14 7 1 15 3 Dominion Rubber S 0 0 ' , — . Mining— Kawarau 0 6 0 0 7 0 # Cum div.