COMMERCE AND FINANCE

Otago Daily Times, Issue 20319, 30 January 1928, Page 3

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS.

THE SHARE MARKET.

DUNEDIN STOCK EXCHANGE. There was very little activtity on the Stock Exchange on Saturday morning. * urther inquiry was made for National Bank of Australasias at £l7 6s 6d, and for the contributing shares the improved price of id I2s was offered. New Zealand Refrigerating contributing shares were in demand at os 7d with a seller at 8s 9d. Government 44 per cent. Bonds and Stock were wanted at £97 • , The following are Saturday morning s buying and selling quotations, which are subject to the usual brokerage. BANKING. Bank of N.S. Wales—Buy £47 15s. Bank of New Zealand—Sel 59s 3d. Bank of New Zealand (D. issue—Buy 265. Commercial Bank —Buy 28s 9d, sel 29s sd. E.S. and A. Bank—Buy £7 12s. National Bank of N.Z. —Buy. £6 17s. National of Australasia—Buy hU Bank of Aust. (cont.)-Buy £3 12s. Union Bank (ex div.) —Buy £ls ss. BREWERIES. N.Z. Breweries, Ltd.—Sel 42s 6d. N.Z. Breweries Debent.— Buy 22s od, sei 235 3d ‘ INSURANCE. National Insurance Co.—Buy 15s, sel 15s N.Z. Insurance Co.—Sel 41s 6d. SHIPPINGAdelaide Shipping-Buy 255. Burns Philp—Buy 39s , 0 M , Hnddart, Parker (ord.)— Buy 49s 6d, sel S °Huddart, Parker (pref.)—Buy 20s lOd. p. and O. Deferred Stock—Buy £250, sel P ’ and 0. Deferred Stock (new issue!— P,uy £26 prem, sel £2B prem. COAL. Westport Coal Co.— Buy 31s 9d sel 325. Westport-Stockton (pref.)—Sel 4s. LOAN AND AGENCY. Dalgety and Co.—Buy £l3 14s, sel £ls 19s Goldsbrougb, Mort—Buy 47s 6d, sel 48s 2 National Mortgage—Buy 735, sel iss. N Z Loan and M. (ord.)— Buy £92 10s. Perpetual Trustees—Buy 61s AVright, Stephenson (ord.)— Buy 20s, sel Stephenson (pref.)—Sel 15s 9d. MEAT PRESERVING. Canterbury Meat— Buy £8 ss. N.Z. Refrigerating (pd.)—Buy 17s 10d. N.Z. Refrigerating (cont.)— Buy 8s id, Frozen Meat (ord.)— Buy 51s. MISCELLANEOUS. British Tobacco—Buy 39s 6d. Brown, Ewing (ord.)—Stel 525. B r uce Woollen Co. —Buy Us. D.I.C. (ord.)— Buy 9s 3d P re . m - , , D.I.C. (pref.)—Buy 20s 9d, eel 21s 6d. Dominion Rubber—Sel 475. Donaghy’s Rope and Twine—Buy o3s 9d. Xhineuin-Kaikora i Trams—Buy 32s 6d, sei Woollen (pref.)—Buy 13s 6d, sel 14 Milburn Lime and Cement—Buy 325. Milburn Lime and Cement (new issue)— Buy 8s 3d prem. . National Electnc-Sel 11s 9d. N.Z. Express (ord.)-Buy 20» 9d. N Z. Milk Products (bonds—Buy 225. N.Z. Paper Mills (ord.)—Sel 17s od. WiUons o Cement- -Buy 57s 3d, sel 383 MINING. Kawarau GAL. Co.-Buy M, sel 7d. Nokomai Sluicing -el oos. AVaihi—Buy Us, sel 11s 6d. Waihi Grand Junction—Sel Is -M. Electrloytic Zinc (pref.)—Buy 325, sel 5-C Electrolytic Zinc (ord.)— Buy ols 3d, sel 325. Mount Lyell—Buy 295. Mount Isa —Sel 28s. Upper Nevis —Sel 25s od. Big Beach—Sel 18s. WAR BONDS. 4A per cent. Bonds. 19Y1—Buy £97 10s. 4 ! Xei cent. Bonds, 1938—Buy £97. 4 perceat. Bonis. 1939-Buy £| 5j per cent. Soldiers’ Bonds. 19o5—Sel per" cent. Inscribed, 1938-yßuy £97 si p=r cent. Soldiers’ Inscribed, 1950 per cent. Bonds, 1930—Buy £9B. NORTHERN EXCHANGES. (Pee United Press Association.) The following business was done on Bank of AnaBank nf Adebjilc £9 7s 9d £9 Bs. Sales repoited . Cnnst dmrch Trmaway Board 5 S P- r cent " (194 ,) ’ £93 15s; Staples Brewery. 41s. FRUIT AND PRODUCE WORLD. ■Rpillv's report: Exceptionally large OnSi ot fruit atriviiw. W. atton|ly advise those wanting supplies to order raspberries, plums, apricots immediate!}. Poultry- On Wednesday we sold 444; bens 2s 6d to 6s; 101 ducks. 3s fld, 5s 10d;’62 cock birds,. 3s. 5s 6d; 33 cockelel ®’ o, od 4s 6d; 50 chickens, Bd, 2s, 21 geese, 3s 6d* 6s; 34 pullets, 15s, 255; 6 ducklings, 5s per pair. Sardines; Brislings, 3s 6d, 6s 6 P d; small rild. 3s 3d. os. Section honey. 8s to 10s. Red currants, 24d, blacß, m. Cucumbers, 6s 6d, 12s 6d. Marrows, , 12s 6d. Carrots, Is 6d. Parsnips, 2s, Beetroot. Is 6d. Lettuce, 2s, 3s. Cabbage: Choice, 2s 6d, 3s 6d. Cauliflower, 6s,°Bs. Eggs, Is 6d, ls „^ d ; Bd, lOd. Raspberries, /d 10d, pottles. Is. Strawberries; Choice, Is 9d; jam. Is 3d, fq 6d Butter; Pats, bulk, Is, factory ■nats Is 3d, Is 4d. Preserved ginger. Is 2d! ' Garlic, sd. 7d. Beaches: Crate ■Deaches 2ld, 6Jd; cases, 3s 6d, 5s 0(1. Pears: Honey pears, 2d, 3d: Jargonelles, od 3d- Williams, 4d. Apricots; Crates, lid 6id; Ss 6d. 7s -6d. Nectarines, 4s 6d ” Cherry plums; Choice, 2Jd, others, lid-dark plums. 2d to 3d; extra chxoce, 6| ’ Honev: Bulk. 44d; 101 b tins 4s 6d, ss : 21b pottles, Is, lid. Gooseberries i; nP 4d: others unsaleable. Grapes: Locals, 2s. 2s 4d Broad beans, 2d French and butter beans, 5Jd,, Bd. Green peas: Choice, 2Jd. New potatoe . Locals, IJd, 2d; Outrams, lid. Beanuts, sd; Brazils, lOd; almonds, 10d - in f o ? 2s toes: Nelson glasshouse co oured lOs fcfc, of- °u : 3 iod Bacon pigs: Prime, Rid; porkers, 7d, beavy-weifhts, 4id. Bacon; Choice, Is 1,1- odd lots, 6d to Is. Hams. Is 3d. Apples- Otago Central, 3d to 4d; Blenifcim Gravensteins, 10s 6d. Us; Emperors, 8« 6d to 9s. Lemons: Californians, 70.. Navel oranges: .Choice 37s 6d 0«o«: Bs°6d a Fat! 16s 245. X Keys a Jt 5 £S. REILLY’S PRODUCE Dunedin. EXPORT OF PORK. GOVERNMENT ASSISTANCE. (Per United Press Association.) AVELLINGTON, January 27. Mr O. J. Hawken, Minister of Agriculture, has issued the following statement in regard to the recent announcement by the Prime Minister that the Government had decided to give financial assistance towards the export of pork during the present and the next two seasons: “ It was the desire of the Government that the producer should actually receive the bonus direct, but this would involve a complicated method of administration and expense, which would not be warranted. It has now been decided that the

most practical and satisfactory way of handling the matter is to grant a refund of id per pound weight on the oversea freight on all pigs neighing from 601 b to 1301 b, exported to Great Britain or other countries in Europe. The refund will apply only to pigs killed from February 1 to October 31 next, and afterwards exported to Europe. Payments will be made to exporters after the receipt of the monthly claims, showing the number of pigs exported and the weights, each claim to be supported oy a statutory declaration that all the pigs covered by it were slaughtered not earlier than February 1, 1928, and were exported to Europe, and were within the weights specified. . This arrangement will, as already mentioned, apply only until October 31 next.' WAIKAKA STOCK SALE. (From Our Own Correspondent.) GORE, January 28. The monthly stock sale was held at Waikaka yesterday, there being a small attendance of farmers and buyers. Sheep.—There was an entry of 1355, mostly store wethers, with one line of lambs. Good forward wethers realised up to 29s 9d, and others were quitted at from 20s to 22s 2d. The only line of lambs (mixed sexes) changed hands at 23s 7d. Cattle.—Only one dairy cow was forward, and realised £9. HASTINGS RAM FAIR. (Pee United Press Association,J HASTINGS. January 28. At the sale of stud sheep at the ram fair this morning the demand for Romneys was poor, only four bringing more than 20 guineas. The highest figure was 55 guineas. Only four Lincolns were offered, and all were passed in at 10 guineas. The Southdowns were more attractive, but bidding was not bright, the highest prices being 51 guineas and 50 guineas. Sheep were passed in at from 10 guineas to 41 guineas. OAMARU MARKETS. (From Our Own Correspondent.) OAMARU, January 28. Although no cereals have yet come upon the local market a few forward transactions are reported to have taken place during the past week. The values of wheat have not yet been established. A large portion of the Hakataramea wheat was sold at 7s 3d per bushel net on trucks, but save.a. growers are refusing offers at this prior, and are holding off for better prices. Offers of 6s for Hunters and 5s 8d for Tuscan have been .declined, though it is asserted that sales have this week been made at this price to Oamaru millers by Canterbury growers. No transactions in oats have taken place, but values are reported to have a hardening tendency. ~ Cocksfoot and ryegrass seeds will probably come upon the market shortly, but no sa.es have apparently yet been made. In the live stock market the a has been a fair number of transactions. There is a good demand for store stocu notwithstanding the drv weather, as most < f the farmers ’re understocked. A line of two-tooth store wethers sold at 225, and another of twotooth ewes at 34s 6d Fat lambs have sold at from 28s to 30s aid nghv fat wethers at 255. Store wether lambs have changed hands at 22s 6d. , Not many fat or store attic have been offering. Fat heifers have sold up to £lO and Toung store steers at fruni -.-J* ~ £6 Prime beef is still somewhat difficult to 'procure locally and prices are on a par wifh Fho=e at Burnside. Pigs have shown a■ siiglit m^TJJ sold at about 25s ai n to 20s, according to size and quality. DUNEDIN MARKETS. Oak canned raspberries (new seas ms) are now available. , - Local oatmeal has been advanced P Giliette razor blades show a slight reducti0 Su PP lies of sugar are exceedingly short here to-morrow. , , u Ovaltine rusks are now quoted at 24s oa 3 of shell walnuts has now Si Tht P Sutses from Calcutta, now discharg-asStsS’-'-s js£ ar-v h« .-»*»■ «i «ncoi. New seasonsLS aro now available, and temfn will. »PP«<» ■»“ Australia. . COMPANIES REGISTERED. Mercantile Gazet e - Registered as a prill. A. Hogg, Ltd. register 1927 . vate company gecem 0 f £1 ssSs 8 : ra M! n St d e e venson, Ltd. Registered as a private of®?! Capita!, «000 Dunedin _ M . Stevenotss in wfnton" Preserving Co-, Ltd. , Hfgisbe/*, M'S?. | Tho^ 500 MA. Thomson 500. Objects: To carry on the business of fish, poultry, game freezing and preserving, and cold storage proprietors. CHICAGO WHEAT MARKET. (Press Association —By Telegraph-Copyright.} 1 NEW YORK, January 28. (Received Jan. 29, at 5.5 P-m.) , Chicago Wheat Quotations.-March. 130 5-8 cents per bushel; July, 1-7*. a. and N.Z. Cable. LONDON MARKETS. [Pre.i Association —Bv Tolegrapb-Copyrteht.) LONDON, January 28. (Received Jan. 29, at 5.5 p.m.) Cotton. —Liverpool quotation, American middling upland, February delivery, 9.66 d IK Rubber— Fine hard Para, 15jd; plantation first latex crepe, 18 7-Bd, smoked ribbed sheet, 18 7-8 d per lb. Jute .—lndian native first marks, Jami-arv-February shipment, £29 10s ton. New Zealand Hemp.—January-* ebruarv shipment, £35 ton. Copra.—Bagged South Sea. JanuaryPebruary shipment, £27 7s 6d ton. Linseed oil. £2B 10s ton—equal to 2s 3.36tl a gallon. Turpentine, 41s cwt —equal to 3s 1.128 d per gallon. Sheep.—North Island: Medium, 6 l-8d; heavy. 5 3-Bd. New Zealand ewes: None offering. Argentine ewes, 44d. Lambs and other selecteds, 10 3-Bd. North Island firsts. lOd; seconds, 9%d; Australian firsts, Victorian 9d, other States 74d; seconds. Victorian 7£d, other States 6 3-Bd. Chilled Beef.—Argentine hinds, 6Jd. Other meats were unchanged. Hides. —All weights dry-salted, Queensland and New South Wales. 18 3-8 d lb; wet-salted. Queensland, 144 d: New South Wales, 14|d; Victorian abattoirs, 14Jd.

LONDON WOOL SALES. linn iMooiatioD— By Telegraph— Copyright.) LONDON, January 27. At the ■wool sales 8756 bales were sold, of which 5256 were Australian and 3012 New Zealand. There was an excellent selection of all classes. The tone was strong and bidding brisk. The prices generally were very firm. New Zealand: “HW/TR,” 21Jd and 19d; ‘“Awapapa, 22d and 20d.—A. and N.Z. Cable. LOAN FOR NEW SOUTH WALES. (Press Association—By Tdegreph—Copyright.) SYDNEY. January 28. The Assistant State Treasurer (Mr Stevens) announces that the Government intncds to secure a loan of £3,000,000 on London at an early date to facilitate the construction of the harbour bridge, the underground railway, and other important public works.