COMMERCE AND FINANCE

Otago Daily Times, Issue 20690, 12 April 1929, Page 12

COMMERCE AND FINANCE

THE SHARE MARKET. DUNEDIN STOCK EXCHANGE. There .were three sales of National Electrics on the Dunedin Stock Exchange yesterday, one at 8s 3d and two at Bs. When the market closed,- buyers were offering 8s with the selling quotation 6d in advance of that figure. A sale of Taranaki- Oils was reported at 5s 4d, buyers later offering Id less without attracting any further business. Buyers offered 62s 6d for New Zealand Breweries, but sellers would not take less than 635. National Insurances were on offer at 16s Bd, no buyer coming forward. Regent Theatres also failed to attract a buying quotation, sellers asking 245. There was a good demand for all Government Stock. Sales: National Electric, 8s 3d, 8s (two). Sale reported: Taranaki Oil, 5s 4d. The-following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage:— BANKING. E.S. and A. Bank-—Buy £8 Ids 6d, scl £8 18s. National Bank of New Zealand—Sel £7 2s _9d. National Bank of Australasia—Buy £l9 12s. National Bank of Aust. (cont.) —Buy £9 11s. Union Bank—Sel £ls 12s 6d. BREWERIES. N.Z. Breweries, Ltd.—Buy 62s 6d, sel 635. N.Z. Breweries Dcbcnt.—Buy 26s 3d, sel 26s 9d. Staples Brewery—Buy 37 a 9d. INSURANCE. National Insurance Co.—Sel 16s Bd. N.Z. Insurance Co.—Buy 465, sel 47s 3d. A.P.A. Insurance Co.—Buy 8s 9d. Standard Insurance Co.—Buy 63s 6d. SHIPPING. Huddart, Parker (pref.)—Buy 21s. P. and O. Deferred Stock—Buy 50s, sel 60s 6d. U.S.S. Co. (pref.)—Buy 20s Bd. COAL. - Westport Coal Co,—Buy 32s 6d, sel 335. Westport-Stockton (ord.)—Buy 2s Bd, sel 3s 2d. Westport-Stockton (pref.)—Buy 3s 3d. LOAN AND AGENCY. Dalgety and Co.—Sel £ls 13s 6d. Goldsbrough. Mort—Buy'535. sel 545. National Mortgage—Buy 85s. N.Z. Loan and M. (ord.) —Buy £125 sel £152. ' Perpetual Trustees—Buy, 64s 6d. Trustees, Rx. and Agency—Buy 50s, . Wright, Stephenson (ord.) —Buy 25s 3d. Wright, Stephenson (pref.)—Buv 17s lOd. MEAT PRESERVING. Gear Meat Co.—Sel 43s 3d. efri S ei- ating (pd.)—Scl 16s. N.Z. Refrigerating (cont.)—Buy 7s Id, sel is 6d. . MISCELLANEOUS. . Auckland Amusement Park (prof.) Sel 14s, British Tobacco—Buy 47s 6d, sel 48s 9d. Bruce Woollen Co. —Sel 12s 6d. Crystal Ice Co.—Sel 26s 6d. D.I.C. (ord.) —Buy 10s Od prenr. D.I.C. (pref.)—Buy 21s. Dominion Rubber—Buy 295, scl 34s Dunedin Stock Exchange p P y—Buy 755. . ■ Kaiapoi Woollen (cont.) —Buy 4s 6d. Kaiapoi Woollen (pref.)—Buy 15s 3d. Milburn Lime and Cement—Buy 37s 3d. Mosgiel Woollen Co.—Buy £7 10s. National Electric—Buy Bs, scl 8s 6d. N.Z. Express, (ord.)—Sel, 10s. N.Z. Guarantee Corp.—Buy 8s Od, sel 9s 3d.' N.Z. Sugar of Milk—SeT23s 6d, • Otago Daily Times—Sel 765. Taranaki Oil—Buy 5s 3d. Wellington Woollen (pref.)—Buy £7 7s. N.Z. Fanners Fertiliser—Sel 21s 9d. Wilsons (N.Z.) Cemenb—Buy 40s 9d. Regent Theatre—Scl 245. MINING. Nokomai Sluicing—Sel 21s. Waihi—Buy 13s 7d. Electrolytic Zinc (pref.)—Buy 36s 3d. sel 375. . Electrolytic Zinc (ord.)—Buy 355, sel 36s 6d. ~ Mount Lycll—Buy 42s 9d. scl 43s 3d. South Broken Hill—Buy 65s 3d, sel 68s. Upper Nevis—Buy 2s 6d. Upper Nevis (pref.)—Sel par. Big Beach—Sel Bs. Blenheim Oil—Scl 70s. Kildare—Buy 3s, sel 3s 6d. Mahakipawa—Buy lid, sel Is 2d. WAR BONDS. 4’. pci- cent. -Bonds, 1938—Buy £99 Iss. 4$ per cent. Bonds. 1939—8uy £99 15s. _4J per cciit. Inscribed, 1938—Buy £99 15s. • 4} per cent. Inscribed. 1939—8uy £99 los. „ per cent. Soldiers’ Inscribed, 1933Buy £lOl as. • 5.] per cent. Inscribed Bonds, 1941 Buy. £99 5s 5i per cont. Bonds. 1936—8uv £lOl 5s . P er cent. Inscribed. 1935—8uy f 101 OS. 3i per cent. Bonds, 1933—8uy £99 .oj per cent. Inscribed,. 1933—8uy £99. NORTHERN EXCHANGES. (Pun United Press . Association.) The following business was done on Changes yesterday:— _ Auckland.—Sales; New Zealand Breweries Debentures. 26s 4d; National Bankof Au s ra?s ,a.,£l9 11s 6d: Bank of New South Wales, £sl 2s 6d; New Zealand Breweries Shares, 635; Colonial Sugar. £6O ss; Farmers’ Trading Co., 8s 3d; Sanford Ltd. (pref:). 19s; Taranaki Oil, 5s 3d, os 4d, ss, 3d; Wilsons Cement. 41s; Asburma. Is lOd. 'Wellington.—Sales:- New Zealand Guarantee Corporation, 8s lid, 8s lOd.-—— Sales reported: Bank of New Zealand, 62s 3d; New Zealand Insurance, 475; New Zealand Breweries, 625, 62s 6d, 62s 7d; Colonial Sugar (two parcels), £6O; Wilsons Cement, 41s, 41s 3d. Christchurch.—Sales: Commercia 1 Bank of Arist.,.29s 10d; Union Bank of Aust., £ls 10s (two parcels); United Building Society, 16s; New Zealand Breweries, 62s lOd; Mahakipawa, Is Id (two parcels). Sales reported: Commonwealth Bank of Australia, 29s lOd; Goldsboro, Mort., 53s (two parcels); Kcw Zealand Breweries, 635. LAST. AUCKLAND WOOL SALE. ;S peri a i to Dailj Times.; AUCKLAND. April 11. A small offering of about 2100 bales of wool of irregular quality was submitted at the third and final local auction of the season held this afternoon. The smallness of the offering was insufficient to merit the. attendance of a full bench of buyers, but in spite of restricted competition prices were probably not more than Id a pound lower than those paid for similar wool at the second Auckland sate held* in February. There was a large proportion of seedy lambs’ wool from back country stations, and 1 passings” from the last Auckland auction. In such circumstances the sale lacked the snap of the earlier fixtures, except when a few lots of better conditioned wool roused buyers to spirited bidding («p to 173 d for halfbred) and on a few other occasions.

The sale opened in desultory tone with a heavy percentage of passings, which were made the subject for banter between the auctioneer and the unusually quiet bidders. The tone improved quickly, however, French buyers and local speculators absorbing much of the seedy lambs’ wool, while Germany and Bradford maintained the market for fleece offerings. New Zealand scouring interests bought the “ rougher ” lots. More than one auctioneer estimated that average prices realised were from par to Id below those paid for similar wool at the last Auckland sale. That result in- view of the irregularity and small proportions of the offering was deemed a satisfactory conclusion to a season ’of heavy production and very favourable average values.

LOCAL AND OVERSEAS MARKETS.

PRICE OF FINE GOLD. (United Press Association.) (By Electric Telegraph-;—Copyright.) ■ , • , LONDON, April 10. Fine gold is quoted at £4 4s lid per oz. —Australian Press Association. DAIRY PRODUCE. The New Zealand Loan and Mercantile ■Agency Company has received the'following cablegram from London:— Butter.—New Zealand choicest salted sold at 164 s to 1665, Cheese.—White sold at 87s to 88s; coloured, 88s to 90s. The market is firm. HIDES MARKET. (United Press Association.) (By Electric Telegraph—Copyright.) ’ • _ . MELBOURNE, April 11. (Received April 11, at 11.35 p.m.) The hides market is irregular. Mediums, lights, shabby sorts, and lieavy kips declined to |d. Others are unchanged. DISEASE TN PIGS. . » EFFORTS TO CHECK INFECTION. (Pee United Press Association.) PALMERSTON N., April 11. At a meeting of the Mauawatu-Oroua branch of the New Zealand Pig Breeders’ Association, which was held at Palmerston North to-day an allegation was made that disease in pigs was being spread through infected animals being offered for sale in the auction marts. The remedy suggested Was that the auctioneers should be asked to revert to the old practice of announcing the vendor’s name when making a sale, as it was felt that the resultant publicity would deter vendors from offering diseased stock. It decided, after some discussion, to approach the district auctioneering firms with a view to discovering whether something could be done in this direction. AUSTRALIAN MARKETS. (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, April 11. (Received April 11, at 8.15 p.m.) Wheat; At country stations, 4a per bushel; ,ex trucks, Sydney, 4s 7d. Flour, £ll 10s per ton. Bran, £6 5s per ton, Pollard, £6 10s per ton. Oats: Algerian, 3s Od; white, 4s 6d. Maize, os 9d. ■ { ■ Potatoes, £22 per tori. Onions: Victorian-, £l2 per ton; New Zealand, £lO 10s to £ll Is. , . ADELAIDE, April 11. Wheat: Growers’ lots, 4s 6d per bushel. Flour: Bakers’ lots, to £lO 12s 6d per ton. ■ ' Bran, £0 7s 6d per ton. Barley, 8s 3d per bushel. Oats, 2s lOd'per bushel.