COMMERCE AND FINANCE

Otago Daily Times, Issue 20610, 8 January 1929, Page 13

COMMERCE AND FINANCE

THE SHARE MARKET. DUNEDIN STOCK EXCHANGE. There, was no business on the Stock Exchange yesterday. There was an easier inquiry for Bank of Australasias compared with the closing quotation before the holidays. Buyers’ best offer was fl 4 14s. For Bank of New South Wales shares buyers were prepared to give £SO 10s, but sellers were reticent. National. Banks were also in easier demand, buyers' best offer being £7. New Zealand Breweries shares - were on offer at 58s, but buyers would not offer more than 575. Mosgiel Woollens were inquired for at £7 ss, but sellersdid not. come forward. There was a' slight improvement in.the demand for Regent Theatres, buyers offering 20s 3d, but sellers would not accept less than 255. The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage:— . BANKING. Australian Bank of . Commerce—Sel 345. Bank of Australasia—-Buy £l4 14s. Bank of N.S. Wales—Buy £SO 10s. Bank of New Zealand—Buy 61s 3d. Bank of New Zealand (D issue) —Buy 27a 6d. Commercial Bard:—Buy 30s 6d. E.S. and A. Bank—Buy £8 10s. National Bank of N.Z.—Buy £7. Union Bank—Buy £ls 10s'. BREWERIES. N.Z. Breweries, Ltd.—Buy. 575, sel 58s. N.Z. Breweries. Debs.—Buy 255, sel 20s. N.Z. Breweries Stock—Buy 255. INSURANCE. National Insurance Co.—Buy 16s 2d, sel 16s sd. Standard Insurance Co.—Sel 64s 6d. SHIPPING., Howard Smith—Buy 245. Huddart, Parker (ord.)—Buy 47e od. sel' 48s 6d., Huddart, Parker (pref.)—Buy 21s. ■P-and .0, Deferred Stock—Buy 58s 6d. U.S.S, Co. (pref.)—Buy 20s 4d. COAL. Kaitangata—Sel 4s 6d disc. Westport Coal Co.—Sel 30s 9d. Westport-Stockton (pref.)—Buy 3s lOd, sel 4s 9d. ■ LOAN AND AGENCY. Dalgety and Co.—Buy £ls ss. National Mortgage—Buy . 88s. Perpetual Trustees—Buy 64s 6d. Wright, Stephenson (ord.) —Buy 23s 6d. Wright, Stephenson (pref.)—Buy 16s 9d. MEAT PRESERVING. N.Z. Refrigerating (pd.)—Buy 19s. sel 19a lOd. N.Z. Refrigerating (cont.)—Buy 9s 2d, sel 9s 6d. ' MISCELLANEOUS. Auckland Amusement Park (ord.)— Buy 3s. Australian Iron and Steel (pref.)—Sel 20s 4d. DJ.O. ford.)—Buy 10s prem. DJ.C. (pref.)—Buy 20s 9d, Dominion Investments—Buy 235, • Dominion Rubber—Buy 20s, sel 275. Kaiapoi Woollen (ord.) —Buy 13i 6d. Kaiapoi Woollen (cont.) —Buy 4s. Milburn Lime and Cement—Buy 35a 3d sel'36s. Mosgiel Woollen Co. —Buy £7 ss. National' Electric—Buy Bs. N.Z. Drug Co. (£2 pd!)—Buy 725. N.Z. Express (pref.)—Sel 17s Od. N.Z, Guarantee Corp, —Buy 8s 4d, sel 8s fld. N.Z. Paper Mills , (ord.) —Buy 16s 6d. Smith and Smith (pref.)—Buy 17s. Regent Theatre—Buy 20s 3d, sel 255. MINING. Kawarau GAL Co.-—Buy 3d, sel 6d. Nokomai Sluicing—Sel 22s Od. Waihi—Buy 14s, sel 14s 10d. Waihi Grand Junction—Buy 9d, Sel Is 3d. Mount Lyell—Buy 39a 6d, sel 41s. Broken Hill South—Buy 55s 6d. , Mahakipawa;—Buy Is, Kildare—Buy Is lid. sel 2s 3d. Okarito—Sel Bd. WAR BONDS. 4i per cent. Bonds, 1038—Buy £99 7s 6d ' P« cent. Bonds, 1033-Buy £O9 7s _ 4i-per cent. Inscribed, 1938—Buy £99 7s od. 7s 4 |d Per ° ent ’ Inscribed > 1939—8uy £99 NORTHERN EXCHANGES. <Pek United Press Association.) The following business was done on Changes yesterday:— Auckland.—Sales: Commercial Bank of Australia, 39s 9d; Union Bank of Australia, £ls 14s. Christchurch.—Sales: Beath. and Co (rights), 6s 3d, 6s 5d (two parcels), 6s Gd. CROWN LAND AUCTIONED. . An auction sale of Crown land was held m the Lands Office, Dunedin, yesterday afternoon, there being a good attendance of prospective buyers. Sections 10. 11 and 15, town of Kurow, were bought by Mr J. I. Malmache, while section 12, block XV*, town of Kurow, was purchased for a site for a women’s rest home. .AH sections .in the town of Alexandra were passed in, as also was the lease of section 49, block VI, Clarendon, Sections 45 and 46, block I, Upper Taieri, were purchased by Mr Keegan, Patearoa. LONDON WHEAT MARKET. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, January 5. Wheat cargoes are dull, the quotations following the decline in North America. Advices are about 3d lower. Parcels are inactive about. 3d under the last levels. Liverpool futures: March, 8s lOd per bushel; May,-8s lljd; July, 9s IJd. —Australian Press Association—United Service. CANTERBURY HARVEST. RECORD CROPS DAMAGED. (Special to Daily Times.) CHRISTCHURCH, January 7. The present broken spell of weather is having a bad effect on crops on heavy land, many being laid Hat, and rust and other troubles have already made their appearance. Haymaking has been seriously interrupted, many of the crops cut being ruined. Tomatoes have not been badly affected yet, but potato, onion, and mangold crops have suffered severely. What gave promise of being a record season has now assumed a totally different complexion, and the recent heavy rains will probably cost the province some thousands of pounds. Heavy rain fell again this morning, and the weather still appears unsettled, Scott Bros., produce merchants and commission agents; agents for,“The Dunedin Egg Suppliers’ Association,” report:— Eggs, wholesale Is Id, guaranteed Is 2d per dozen. Butter: Dairy pats. Is 2d to Is 3d per lb; bulk. Is 3d per lb. Honey: Prime bulk, very slow, 4d per lb; 101 b tins, 4s 6d each. Beeswax, Is 5d to Is 6d per lb. Fat, 23s to 25s per cwt. Poultry: Hens, 3s to 4s per pair; ducks, good 2s 6d to 3s each; geese, 3s to 4a each; turkeys, hens lid, gobblers Is per lb; Potatoes: New Outrams and Kakanuis, 9s to 10s cwt. Onions: Australian to hand) 15s cwt. Chaff: Prime oaten sheaf, £5 15s per ton, sacks extra. Whole fowl wheat, 6b fid per bushel. Maize, 8s 3d per bushel. Oats, 3s 9d per bushel, sacks extra. Straw: ’ Pressed wheaten, £3; oaten, £3 10s. Cloverand ryegrass hay, £5 to £5 10a per ton. Lucerne £6 per ton ex store. We also stock the following lines:—Meat meal, - charcoal, oyster grit, chicken food, egg crates, etc., quotations on application. Please note —Pigs and poultry must arrive not later than Thursday in the week, January 7, 1929.

LOCAL AND OVERSEAS MARKETS.

GRAIN AND PRODUCE REPORT, Messrs. Donald Reid and Co., Ltd., report as under:— Oats.—Very little interest is being shown in this market. Undergrade are the only oats left unsold in - merchants’ bandstand there is little or no inquiry for this class of oat.' Millers have sufficient stocks to last until the new crop is available. Farmers have nothing left now to offer, and nominal values to-day are: A grade 3s 3d, B grade 2s XOd, sacks .extra, on truck, country stations. Wheat.—Business at present is ' at a standstill. Millers are waiting until threshing before committing themselves to further purchases. Fowl wheat is in plentiful supply and a carry-over is intable. . Canterbury merchants are still offering last season’s wheat at prices up to 5s 9d, on truck, sacks extra, for Tuscan variety. Very few sales, however,, are being made to local consumers. Chaff.—There is little demand as yet J or chaff. Supplies are coming from Canterbury, and best oaten sheaf is worth up 15s, ex truck, Dunedin. Medium and inferior can only be disposed of when better quality is not procurable. Value of medium quality is from £4 10s to £5 per ton. - Potatoes.—The usual rush at holiday time for new potatoes saw the market over-supplied, and as the potatoes are still uuripe, a good deal of waste occurred, and values also eased considerably. Consignments have now slackened off again, and prices have slightly improved; 105,6 d E er . cw t was obtained for good tables during-the week. Messrs Dalgety and Co., Ltd., report as follows: Cats ; —This market is very quiet with no business passing. There is no shipping demand, and in the absence of local inquiry it is impossible to quote even nominal walues. Fowl Wheat.—Stock are plentiful and a fairly constant demand is keeping'prices up l to late rates—6s per bushel, ex store, sacks extra. Chaff.—As ib usual at this .time of the year, the amount of chaff wanted is not great. Supplies, are gust about equal to the demand. Good bright oaten sheaf is saleable at £6 15s, sacks extra. Any but prime lines are absolutely unsaleable, . MILLERS’ PRICES. The prices for flour and pollard were wrongly stated.in our issue of Saturday. Flour in 100’s is quoted at £l7 15s. and pollard at £7 10s.