COMMERCE AND FINANCE

Otago Daily Times, Issue 20704, 30 April 1929, Page 6

COMMERCE AND FINANCE

THE SHARE MARKET. DUNEDIN STOCK EXCHANGE. A transaction in ordinary Kaiapoi Woollens at 14s 3d was reported on the Stock Exchange yesterday morning, the market closing with a seller at 14s 6d and no buyers offering. There was an easier demand for Bank of New South Wales shares, buyers’ best offer being £sl ss. Sellers, however, would not accept less, than £52. The demand for New Zealand Breweries shares also cased a trifle, buyers offering 61s 6d. No sellers noted beloqw 635. Buyers .of Dominion Rubbers were not prepared to give more than 29s 6d, but sellers remained firm at 32a 6d. Wilsons Cements were inquired for at 41s 3d, but sellers were reticent., The demand for Mount Lyells improved considerably. buyers’ closing offer standing at 44s od. Sellers, however, would not take less than 455. Sale reported: Kaiapoi Woollen (ord.), 14a 3d. The following are yesterday afternoon’s buying and Belling quotations, which are subject to the usual brokerage: — BANKING. Bank of New South Wales —Buy £sl Bs. eel £52. Bank of New Zealand—Buy 61s 9d, s'el 625. Commercial Bank —Buy 30s, eel 30s 4d. Commercial Bank (5s pd.)—Buy I4s. National Bank of New Zealand —Buy £7 Is, sel £7 3s. Union Bank—Sel £ls 12s 6d. BREWERIES. New Zealand Breweries, Ltd.—Buy 61s 6d, sel 635. INSURANCE. National Insurance Co. —Buy 16s. A.P.A. Insurance Co. —Buy 9s. South British Insurance Co.—Sel 64s Pd. "Standard, Insurance Co.—Buy 645, sel 64s 9d. SHIPPING. Huddart, Parker (ord.) —Buy 44s 3d, ■cl 45s 6d; Huddart, Parker (prof.)—Buy 21s. P. and. O. Deferred Stock—Sel 61s 6d. U.S.S. Co. (pref.)—Buy 20s 9d. COAL. Westport Coal Co.—Buy 32s Cd, sel 33s 3d, Westport-Stockton (pref.)—Buy 3s 9d. Grey Valley Collieries—Buy 22s 6d. LOAN AND AGENCY. Dalgety and Goidsbrough, Mort—Buy 535. National Mortgage—Buy 85s. Perpetual Trustees—Buy 645. Trustees, Executors, and Agency—Buy 89s 6d. Wright, Stephenson (ord.) —Buy 265. Wright, Stephenson (pref.)—Buy 17s lOd. MEAT PRESERVING.. New Zealand Refrigerating/ (pd.)—Buy I 5s v sel 15s 9d. New Zealand Refrigerating (cont.) Buy 7sld, sel 7s 4d. MISCELLANEOUS. Brown, Ewing (pref.)—Buy 20s 3d. Crystal. Ice Co.—Sel 26a 6d.D.I.C. (ord.) —Buy 10s 6d prem. D.I.C. (pref.)—Buy 21s 3d. •' Dominion Investments—Buy 23s 6d. • Dominion Rubber—Buy 29s 6d, sel 32s 6d. Donaghy’s Rope and Twine—Buy 33s €d._ Kaiapoi Woollen (cont.) —Sel ss. Kaiapoi Woollen (pref.)—Buy 15s 3d. Kauri Timber—Buy 18s. Milburn Lime and Cement—Buy 38s 6d, sel 405.: Mosgiel Woollen Co.—Buy £7 11s. National Electric—Buy Ss. N.Z. Drug Co. (£2 pd.)—Buy 73s 6d. N.Z. Express (ord.) —Buy 17s, sel 18s 9d._ N.Z. Guarantee Corp.—Buy 8s 4d. N.Z. Paper Mills (ord.) —Buy 18s 6d. Smith and Smith (pref.)—Buy 18s 6d. Taranaki Oil—Buy 6s. N.Z. Farmers’ Fertiliser—Buy 235. Wilsons (N.Z.) Cement—Buy 41s 3d. MINING. Kawarau 6. M. Co.—Buy sd. Waihi—Buy I4s. Electrolytic "Zinc (pref.)—Buy 36s 3d, eel 375. Electrolytic Zinc (ord.) —Buy > 355, sel 36s 6d. Mount Lyell—Buy 44s 6d, sel 455. Big Beach—Buy 6s 6d. Kildare—Sel 3s 6d. Okarito—Buy Is prem., sel Is 3d prem. Mahakipawa—Buy Is. WAR BONDS. 4i per cent. Bonds, 1938—Buy £99 16s, ■el £IOO ss. 44 per cent. Bonds, 1939—8uy £99 15s. 54 per cent. Soldiers’ Bonds, 1933—8uy £lOl ss. ■ 44 per cent. Inscribed, 1938—Buy £99 15s. 44 per cent. Inscribed, 1939—8uy £99 los. 54 per cent. Soldiers’ Inscribed, 1933Buy 101 2e 6d, sel £lOl 12s 6d. ~54 per cent. Inscribed Bonds. 1941Buy £99 2s 6d. 5| per cent. Bonds, 1936—8uy £lOl ss. per cent. Inscribed, 1036—Buy £lOl 54 per cent. Bonds. 1933—8uy £99. . H per cent. Inscribed, 1933—8uy £99. • northerrexchanges. : (Per United Pbess Association.) The following business was done on 'Changes yesterday:— Auckland.—Sales: City of Auckland (1039) 54 per cent., 1 £99 Ss; National Bank of Australasia, £l9 13s 6d: National Bank of Australasia (con.), £9 13s 6d; Bank of New Zealand (D mort. 20s pd.), 20s; Auckland Gas, 24s .4d;. Northern Steamship, 15s; Waihi Mining, 14a-Id. Wellington.—Sales reported: New Zealand Guarantee Corporation, 8s 9tl; New Zealand Drug, 74a 6d. Christchurch.—Sales: Commercial Bank of Anst., 30s 2d (two parcels); Bank of New Zealand, 625; New Zealand Refrigerating (10s pd.), 7s 3d (four parcels); Christchurch Gas (10s pd.), 13s 3d; Dunlop Rubber (ex div.), 27s 9d; New Zealand Farmers’ Fertiliser (cum. div.).'23s 3d; Winding Creek (6d pd.), Is lid. Sales reported: W. R. Cooke and Son 8 per cent." (1936). £lO2 10s: Kaiapoi Woollens (ord.), 14s 3d; New Zealand Breweries, 625; Staples Brewery, 45s 9d. THE DUNEDIN BREWERY AND WILSON MALT EXTRACT CO. The third; annual general meeting of shareholders in the Dunedin Brewery and Wilson Malt Extract Company, Ltd., was held in the Chamber of Commerce yesterday. _ There was an attendance of about 451 shareholders.. Mr C. A. Wilson, chairman . of- directors, presided, '.The report and balance sheet showed that the business of the company continued to make steady. progress. Complimentary reference was made by shareholders to the. success of the year’s operations, A dividend of 8 per cent, per annum was declared. Mr William Anderson was re-elected director, and Messrs James Brown and Co. were re-elected auditors. Scott Bros, report:—Eggs; To-day, wholesale, 2s sd; guaranteed, 2s 6d per dozen. Butter: Dairy pats. Is 2d per lb to Is 3d per lb; bulk, Is 3d per lb. Honey: Prime bulk, 4d to 4Jd 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 3s 6d per pair; heavy breeds, 4s 6d per pair; ducks, good, 2s to 2s 6d each; geese, 3s. to 4s each; turkeys, hens lid per lb, gobblers Is per lb. Potatoes: Prime quality, £5 10s per tou. Table swedes, £2 10s. Carrots, £5 10s per ton. Onions: Canterbury, £8 per ton. Chaff: Primo oaten sheaf, £5 10s per ton, sacks extra. Whole fowl wheat, 6s 6d per bushel. Maize, 8s 3d per bushel. Oats, 3s’Od per bushel, sacks extra. Straw: Pressed wheaten, £3; oaten, £3 10s. Clover and ryegrass hay, £5 to £5 10s per ton. 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. April 29, 1929. '

LOCAL AND OVERSEAS MARKETS.

GRAIN AND PRODUCE REPORT. Messrs Donald Reid and Co., Ltd., report aa under:— ' Oats.—Offerings arc slackening off and the bulk of the sound, heavy lines have already been purchased by millers. Undergrade are rarely inquired for, and the owners of these find it difficult to get a satisfactory ofter. A fair quantity has already been stored. It is not anticipated, however, that there will be as many available as last year. Heavy A grade are selling np to 3s 2d, B grade 2s 10d, sacks extra, on trucks, country stations. Wheat.—There is nothing fresh to report iu this market. Millers are not keenly interested in the few samples offering, having sufficient stocks on hand, and also their own storage space is fully occupied. Values do not vary and Tuscan is worth up to 5s Od, Hunters 6s, Velvet 6s 6d, sacks extra, on truck, country stations. Chaff.—The local, demand is always a .imited one/ and a few trucks arriving at the same time soon quietens the market. Farmers in this district have been sending forward a few trucks, and with Canterbury merchants continually supplymg the produce merchants, the market is well catered for. Prime quality is worth up to £5 10s, ex truck, Dunedin, sacks extra. Potatoes.—Digging is general right throughout the country, and consignments are arriving freely. A large proportion are either water or blight affected, and these fines are difficult to dispose of. Best tables, free from blight, are worth up to fo ss, sacks in, ex truck, or £5 10s ex store, Dunedin. Messrs Dalgety and Co. report as follows: > Oats. Samples arc not coming to hand :£ e °A and it; ia a PP ar ent that as far as the Otago crop is concerned, it is a light one. The quality, however, of most of tha oats is good, and milling oats which form the bulk of those available, are saleable at up to 3s 2d on trucks. The shipping value of ordinary A grade is about 2s lid, with B grade at 2s 7d, on iT7i S ’ countl ’y sidings, sacks extra. Wheat.—ln the meantime millers appear to have sufficient wheat bought to carry Q n with for some time, and as their storage space is becoming overtaxed, the demand has eased off slightly. Values remain steady, however, at: Tuscan 5s Od, Hunters 6s. Velvet Os 6d, o.t.c.s.s.e. CH a £F—Supplies are fully adequate to meet the demand which is moderate, t alues remain unchanged and best oaten sheaf is realising up to £5 10s per ton, ex truck, Dunedin. Inferior lines are almost impossible of sale. Potatoes.—There is a fair demand for good lines of tables. Quite a big proportion of the potatoes coming to hand lY e . a V eCted more or less with blight, so that clean lines are readily saleable. Best tables are rea Using up to £5 5s per ton, ex truck, or £5 lOs, ex store. DOMINION BUILDING SOCIETY. The fifteenth’ballot meeting of the Dominion Building Society was held last ci ciung. Mr J. Y. Love (chairman) presided, and stated that the present ballot would make.a total of £101,700 balloted to date. He also stated that this year's group was being well subscribed, and that there was evidence of increasing interest in the society among the community. The result of the ballot was as follows: i 5* rc> ) , P 26.-—No. 44, balance previous ballot, £200: No. 1, 10 shares (£1000); No. J®, two shares, £200; No. 144, 10 shares, £1000; No. 230, one share, £100: No 104 20 shares. £2OOO (£SOO of this amount to be allocated from next ballot). Group 27.—N0. 52, one share, £100; No. 29, 14 shares, £1400; No. 37, four shares, £400; No. 146, 10 shares, £1000; No. 181, 10 shares, £IOOO (£9OO from next ballot). _ Group 28.—-No. 37, five shares, £500; No. 2, five shares, -£500; No. 81, five shares, £500;. No. 131, two shares, £200; No. 62, five shares, £SOO (£3OO from next ballot). Group 29.—N0. 3, 10 shares, £IOOO (£BOO from next ballot). SYDNEY WOOL SALES. (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, April 29, (Received April 29, at 10 p.m.) At the wool sales 10,342 bales were sold. The market was firm at last week’s rates, and there was-good general competition. Greasy merino made 27d. Messrs Fraser and Co., selling agents for Otago and Oamaru Egg Circles, report as under.—Eggs, 2s 5d to 2s 6d. Butter: Separator pats. Is Id to la 2d; bulk, Is 2d to Is 3d. Tallow: Market steady at 18s to 26s for best quality. Pigs: Good bacon weights, 61d to 7d; overweights, 3d to 4d; porkers, 6d to 7d. Potatoes: Oamaru, £5 .10s to £6 per tou. Chaff: Prime oaten sheaf, £5 10s to £6 per ton, sacks extra. Whole fowl wheat, 6s 3d to 6s 9d per bushel. Bulk honey, 4d per lb; 101 b tins, 4s 6d. Poultry: Supplies are increasing. White Leghorn hens, 3s to 4s; heavy breeds, 4s 6d to 5s 6d; White Leghorn pullets, 5 mouths, to 21s per pair; cockerels, 3s to 8s; roosters, 3s to 4s; ducks,/4s to ss; ducklings, 5s to 7s 6d, all per pair. Turkeys: Hens, Od to lOd per lb; gobblers, Is Id to Is ijcl per lb, live weight. We stock Star P. chick food, Crosskey’s meat meal, leg rings Is per dozen (special quotes for quantities). Consignors please note that pigs and poultry must arrive not later than the Wednesday morning of each week. We have a stock of poultry crates on hand for the use of our clients.