COMMERCE AND FINANCE

Otago Daily Times, Issue 20703, 29 April 1929, Page 16

COMMERCE AND FINANCE

THE SHARE MARKET. DUNEDIN STOCK EXCHANGE. The only sale effected on the Dunedin Stock Exchange on Saturday morning was a parcel of Mount Lyells, which changed hands at 44s 3d. Business was also reported in this stock at 44s 4Jcl, and a late sale on Friday was reported at 44s 6d. When the market closed, 43s 9d was the offer for Mount Lyells, with sellers asking 44s 3d. Two sales of Bank of New Zealands wore reported at 625, Buyers were offering 61s 9d at the close of the market, with sellers at 625. There was a good demand for most classes of stock. Bale: Mount Lyell, 44s 3d. Bales reported: Bank of New Zealand, 62s (two); Mount Lyell, 44s 6d (late sale Friday), 44s 4Jd. The following are Saturday morning's buying and selling quotations, which arc subject to the usual brokerage:— BANKING. Bank of N.S. Wales—Buy £sl 10s. Bank of New Zealand —Buy 61s Od, so] 625. Commercial Bank—Buy 30s, sel 30s 4d. Commercial Bank (5s pd.)—Buy. 14s 3d. E.S.'and A. Bank—Sel £8 17s. National Bank of N.Z.—Buy £7 Is, sel £7 3s. Union Bank—Sel £ls 12s 6d. BREWERIES. N.Z. Breweries, Ltd.—Buy 61s Od, sel 62s 9d. N.Z. Brewries Debent.—Buy 275. INSURANCE. National Insurance Co.—Buy 10s 3d. A.P.A. Insurance Co.—Buy 9s 3d. SHIPPING. Huddart, Parker (ord.) —Buy 44s 9d. Huddart, Parker (pref.)—Buy 21a. P. and 0. Deferred Stock —Buy 58s Gd, ■cl 61s 6d. U.S.S. Co. (pref.)—Buy 20s Od. COAL. Westport Coal Co.—Buy 32s 6d. Westport-Stockton (ord.) —Buy 3s, sel 8s 6d. Westport-Stockton (pref.)—Buy 3s 9d. LOAN AND AGENCY. Dalgety and Co.—Buy £ls 12s 6d. Goldsbrough, Mort —Buy 535, sel 545, Perpetual Trustees —Buy 64s 6d. Wright, Stephenson (ord.) —Buy 25s od, eel 29s Bd. Wright, Stephenson (pref.)—Buy 17s .lOd. MEAT PRESERVING. ■ N.Z. Refrigerating (cont.) —Buy 7s Id. South Frozen Meat (pref.)—Sel 40s. | MISCELLANEOUS. I British Tobacco—Buy 475, sel 48s 3d. Colonial Sugar—Buy £SO 17s 6d. Crystal Ice Co.—Sel 26s 6d. D.I.C. (ord.)—Buy 10s 6d prem. D.I.C. (pref.)—Buy 21s 3d. Dominion Investments—Buy 23s 6d. Dominion Rubber—Buy 30s 6d, sel 32s 6d. Donaghy’g Rope and Twine—Buy 33s 6d. Dunlop Rubber—Buy 28s 6d. Milburn Lime and Cement—Buy 38s 6d. Mosgiel Woollen Co.—Buy £7 11s od, sel £7 16s. National Electric —Buy Bs. N.Z. Drug Co. (£2 pd.)—Buy 73s od. N.Z. Express (pref.)—Buy 21s 6d, sel 22s ed. N.Z. Guarantee Corp.—Buy 8s 6d. ' N.Z. Malay Rubber (ord.) —Sel 20s. N.Z. Paper Mills (ord.) —Buy 18s Bd, ■el 19s 6d. Otago Daily Times—Buy,7os, sel 75s od. Taranaki Oil—Buy 6s, sel 6s 6d, Wellington Woollen (ord.) —Sel £7 7s. Wilsons (N.Z.) Cement —Buy 41s. MINING. Kawarau G.M.Co. —Buy sd. Nokomaj Sluicing—Sel 21s. Waihi—Buy 14s, sel 14s 6d. Waihi Grand Junction—Buy Od. Electrolytic Zinc (pref.)—Buy 36s 9d, ■el 37s 2d. Electrolytic Zinc (ord.) —Buy 33s od, ■el 36s 6d. Mount Lyell—Buy 43s 9d, sel 44s 3d. Upper Nevis—Sel ss. Upper Nevis (pref.)—Buy 2s, sel 6d dis. Big Beach—Buy 6s 6d. Okarito —Buy lOd prem. sel Is 3d prem. Mahakipawa—Buy Is. WAR BONDS. 4J per cent. Bonds, 1938—Buy £99 15s. 4J per cent. Bonds, 1939—8uy £99 15s. 5J per cent. Soldiers’ Bonds, 1933—8uy £lOl ss. 41 per cent. Inscribed, 1938—Buy £99 Ids. 41 per cent. Inscribed, 1939—8uy £99 355. 5J per cent. Inscribed Bonds, 1041— Buy £99 ss. 5J per cent. Bonds. 1936—8uy £lOl ss. 5J per cent. Inscribed, 1933—8uy £9O. 5j per cent. Bonds, 1033 —Buy £O9. NORTHERN EXCHANGES. (Per United Press Association.) The following business was done on ’Changes on Saturday:— Auckland.—Sales: Northern Steamship. 15s; Australian Iron and Steel (pref.), 21s 6d. Wellington.—Sales reported: Port Chalmers Borough 41 per cent. (1042), £9O; National Bank of New Zealand, £7 2s; National Bank of Australasia (£lO paid) £l9 13s 6d; Wellington Woollen (ord.) £7 ss; Taranaki Oil, 6s 2d. NEWSPAPER AMALGAMATION. (Feb Umixed Pbess Associai, AUCKLAND. April 28. At a meeting of shareholders of the Brett Printing and Publishing Company the annual report and balance sheet were adopted. The dividend is 10 per cent., with 2J per cent, bonus, making a total return for the year of 124 per cent. The meeting passed a series of resolutions providing for the amalgamation of the interests of the Brett Printing and Publishing Company and the Lyttelton Times Company. _ The new company is being formed with a nominal capital of £1,000,000 and an issued capital of £582,500 under the name of the New Zealand Newspapers, Ltd. Similar resolutions have been passed by the shareholders in the Lyttelton Times Company, Ltd. NEW ZEALAND APPLES. (United ■ Press Association./ (By Electric Telegraph Copyright I ■ LONDON, April 26. The lonic’s New Zealand apples were in good condition, and of much better colour than earlier arrivals. Jonathan and Delicious realised 14s to 17s; Cox’s Orange Pippins, 10s to 225; and Dunn's. 12s to 14s.—Australian Press Association. AUSTRALIAN WHEAT. FLOUR. ETC. (United Press Association.) (By Electric Telegraph -Copyright.i MELBOURNE. April 27. Wheat, ie 8d per bushel. Flour, £ll and £ll 5s per ton. Bran, £6 10s per ton. Pollard, £7 per ton. Oats, 3s and 3e 3d per bushel. Barley, English, 4s and 4s 3d per tushe). ' , Maize, 5s and 5s Id per bushel. EGGS FOR BRITAIN. COUNTRY OF ORIGIN TO BE INDICATED. (United Press Association./ (By Electric Telegraph—Copyright.) LONDON, April 26. The Ministry of Agriculture has issued itn order that all imported eggs must henceforth bear an indication of their origin on the shell. The letters must not be less than two millimetres in height. —Australian Press Association—United lAvica.

LOCAL AND OVERSEAS MARKETS.

COMPANY REGISTERED. The latest issue of the Mercantile Gazette notifies the registration of the following company:— C.OJX Importing Companv, Ltd. Registered April 0, 1929. Capital, £2(LOOO in 40.000 shares of 10s each. Subscribers: Dunedin—A. B. Taylor 100, J. Hamilton 100, J. Borbner 30, G. Cooper 30, R. Knowles 30, G. Bcrtenshaw 30, L. H. Taylor 30. Objects: Drapers, importers, etc., ond incidental. LONDON METAL MARKET. (United Press Association.i (By Electric Telegraph—Copyright.) LONDON, April 25. Copper.—Spot. 11l Is 6d; forward, £74 6s 3d. Electrolytic, £S3 15s. Wire bars, £B4 ss. Lead.—Spot, £24 8g 0d; forward, £24. Spelter.—Spot, £25 18s lid; forward, £25 16s 10Jd, Tin.—Spot, £2Ol 7s Gd; forward, £203 2s fid. —Standard, 25 5-8(1; _ fine, 27 11-16 J.—Australian Press Association. MERCHANDISE MARKET. - The Huntingdon has brought stocks of English fine and coarse salt and other merchandise lines, Clarence and Craven cigarettes, and a large consignment of whisky, brandy, etc. The Bonnington Irish Moss Company offer their annual bonus from April 20 to May 20. The Karamea has brought supplies of English merchandise, including dotes, Bovril, and grease-proof paper. She has also landed lines of brandies and liqueurs. The next sugar steamer is the »Wingatui, due on May 2. Player’s, tens, are practically sold out of wholesale hands. Further supplies for the New Zealand market are to be packed at Wellington, but when these will be available is not so far known. A small parcel of matured cheese has come to hand from the North Island to a bare market. Sicily almonds are getting into short compass, go far as the wholesale houses a-e concerned. The Sussex, due next month from Calcutta and other Eastern ports, is bringing supplies of aago, tapioca, pineapples, etc, .Tim Cambridge, from Glasgow and Liverpool, has on board powdered alum, milestone, twines, etc. Supplies of lentils recently landed here snow a considerable increase in cost. SOUTHLAND MARKET REPORT. (Fbou Our Own Correspondent.) INVERCARGILL, April 27. • O a te.—-During the week prices have distinctly hardened, and growers are receiving * good deal m excess of .the parity of shipping values. This is due to the full knowledge of merchants that oats in some-of the northern districts are distincfciy light weight, and that the local crop is of small dimension with a big percentage of undergrade oats, consequently even Be, which hung fire for some time, have distinctly appreciated in value. Merchants will on no account consider northern buyers’ offers for actual oats, though the few holders of forward oats are not averse to turning these over on the basis of 3s 7d for A’s, 3s 4d for B's, f.0.b., 5.1., s.i.p.s.o. Brices being paid locally exceed these values by from 3d to 4d per bushel, and at such rates millers are operating. Ryegrass. Only occasional lots are now being offered by growers, and though the autumn demand has well nigh ceased prices still remain firm, 321 b machine, dressed seed being to-day worth 6s 3d perbushel, fo.b., other weights in proportion, much depending bn purity and germination, though in so far as the latter is concerned this is distinctly good. Chewings Fescue and Crested Dogstail. Both markets are firm with a somewhat upward tendency, due in respect to the former to merchants being somewhat optimistic of the future, aud in so far as crested dogstail is concerned, because it is now known that the crop is much shorter than anticipated owing to farmers refraining from operating on their areas, the anticipated price being not sufficiently tempting. STOCK REPORT. . There is little or no change to report in the stock market, values being much on a par with those ruling last week. ca^e are being offeree freely, and the market is easier for this class of stock, especially for unfinished animals. The yardmgs of fat sheep offered are in excess of local requirements, and values for these are also easier. Store sheep ar still coming forward in large numbers, the market for all classs being very firm. Fat Cattle.—Prime heavy bullocks, £ls 10s to £l7 10s, medium £l2 10s to £l4; prime heavy heifers £lO to £l2, medium -to £9 10s; prime heavy cows £9 15s to £l2. medium £7 10s to £8 15s; veaiers to £3, runners to £4 10s; prime ox beef to 49a per 1001 b; prime heifer beef, 40s to 42s 6d per 1001 b; cow beef, 30s to 32a fid per 1001 b. Fat Sheep.—Prime heavy wethers 33s 6d to 35s 6d, medium 30s to 325, lighter down to 28s; prime heavy ewes 24s to 265, medium 20s to 225, lighter down to 17s Prime heavy lambs 30 6 to 325, medium 27s 6d to 295, lighter down to 265, Store Sheep.—Forward conditioned rape lambs, 20s to 225; store wether lambs, 17s to 10s; ewe lambs (s.m.). 25s to 2Ss 6d; two-tooth wethers, 26 s to 28s; two-tooth ewes, 36s to 40s; four, six, and eight-tooth ewes, 30s to 335; sound-mouthed ewes, 28s to 30s; failing-mouthed ewes, 20s to 245; old ewes, 12s to 10s, Store Cattle.—Three and four-year steers, £lO to £l2 10a; two-year steers, £6 10s to £8 10s; yearling steers, £4 10s to £6; two-year heifers, £4 to £6. FRUIT AND PRODUCE WORLD. Reilly’s .report:—The market is still over-supphe 1 with pears. Konev, eggs, bacon pigs wanted. We sold: Section honey: Choice, 10s; medium. Is; broken, 4s 6d. Cabbage, Is 6d, 2s 6cl. Cauliflowers, 2s 6d, ss. Cucumbers: Hothouse, 3s 6d, 6s; outside. 2s. 2s Bd, 2s 9d; preserved. Is 9d. 2s per dozen. Peaches, -s 6d; crates. Sid. Plums: of 6 n i Bed. Bd. Blackberries. Ba. 9d. Quinces. 2d, 3d. Christchurch tomatoes; Choice outside. Sid, 4dseconds, IJd: local hothouse. Bd, lid: Otago Centrals, choice 3d. 4d. seconds 2d. Green peas. 3d. 4Jd. French beaus, 4Jd. Garlic. sd. Cd. Mushrooms, 4d. Is. Grapes. Is, Is 6(1: Gros Colmars. 2s 4d. Butterr Pats, bulk, Is 3d; separator, la od. Bacon: la 2d. Preserved Ringer. Is. Peanuts, sd, Brazils. lOd. Walnuts, lOd. Cheese: Medium. 9d. lOd. Tea: Orange Pekoe, 2s fid. Beeswax, ‘ „ Horsehair. Is 9d. Cocksfoot, 9|d. Bacon pigs: Prime, 7Jd; porkers, r?’ “eayy-weights. 4d: choppers. 3d. Honey: Bulk. 44d. 43d; 101 b tiua. ss; Jib pats, 3s fid: pottles, lib 6s. 21b, 11a. Apples: Choice fox’s. 14s, 15s: Delicious, 7s6d. 10s6d; Jonathans, 7s. 8s fid; others, ss, Ss; cooking. ss. 7s. Dessert pears: Capmumont dumps, choice 4s; Bcurre Bose, 6s; Conference, choice 8s; Winter Coles 6s; inferior. 2s. 4s; Winter Nelis, os. Cape gooseberries: Choice, 0s Passions, 9s fid.. Navel oranges. 37a 6d. Lemons: Missions, 40s. Grapefruit. 38s. Bananas: Ripe, 355. Coconuts, 18s per sack. Potatoes: Canterburys, Oamarus, Out rams, 6s. 7s. Onions: Canterburys, 9s, 10s; Pickling. 10s. Oyster grit. 8s 6d. Fniv x l - B ®’ 6d cvrt - Black Leaf "40”; 101 b tins. 545; 21b tins. 15 s ed. Jib. 5a 3d. Wheat: Fowl. 7s. Bran, £7 10s. Pollard. £9. Ontsheaf chaff. £5 10s per ton. Poultry: 285 hens at 2s to 4s; 152 cockerels. 5s 2d, 10s; 34 chickens, 2s 6d, ss; 46 pullets, 9s 6d. 15s 6d; 28 small pullets. 4e, 9s: 34 ducks. 3s. 5s 2d; 9 geese, 7s 6d. 8s (all at per pair). REILLY'S CENTRAL PRODUCE • MART. DUNEDIN,

AUSTRALIAN MARKETS. (United Press Association.} (By Electric Telegraph -Copyright.) SYDNEY, April 26. (Received April 26, at 11.48 p.m.) Wheat.—Country station, 3s lid per bushel; ex trucks, Sydney, 4s 6d. Flour, £ll 10s per ton. Pollard. £7 per ton. Bran, £6 os per ton. Potatoes.—Tasmanian. £ls to £lB 10s per ton; Victorian, £lO. Onions.—Victorian Brown Spanish, £l2 per ton; New Zealand, £l3; Globe, £ll. Oats.—Algerian, 3s 9d per bushel; white, 4a 6d. LONDON MARKETS. (United Press Association./ (By Electric Telegraph -Copyright.) LONDON, April 27. _ (Received April 28, at 5.5 p.m.) Cotton.—May shipment, 10a per lb. Rubber.—Pai-a, lljd per lb; plantation smoked, 9 7-Bd. Jute.—April-May shipment, £3O 5b per ton. Hemp.—None offering. Copra,—May-June shipment, £2l 15e. .Linseed lil, £2O per ton. Turpentine. 45s 3d per cwt. Osmir i dium. —Ll nchanged. Sheep.—New Zealand ewes, 5Jd per db; Australian firsts, 5 3-8 d; ewes, 5Jd. Lambs.—Canterbury heavy. 8 3-8 d; Victorian firsts, light SJd. medium 8 l-8d; Australian thirds, 8 3-8 d; Argentine firsts, light, 8d; medium, 7 3-Sd. Chilled Beef.—Argentine fores, 5 l-8d; hinds, 7Jd; others unchanged.—Australian ’rcss Association—United Service. * KENT’S BAKERIES. LTD. SHARE AND STOCK ISSUE. The issue of 7* per cent, debenture stock and 10 per cent, participating preference shares is announced by Kent’s Bakeries, Ltd., a new company formed to take over, as a going concern and free of all liabilities, the old-established bakery business of George Kent and Sons, Ltd., Auckland. The net profit for the year ended March 31, 1929, was £llßs more than required to cover a dividend of 10 per cent, on the preference share issue, after allowing for the interest on the debenture issue and for payment of income tax. Details _ regarding this investment are contained in an announcement advertised in this issue.