COMMERCE AND FINANCE

Otago Daily Times, Issue 20707, 3 May 1929, Page 13

COMMERCE AND FINANCE

THE SHARE MARKET. DUNEDIN STOCK EXCHANGE. A; pal-cel of ordinary New Zealand Express. Company’s shares changed hands at 17s on the Stock. Exchange yestrday morning, the market closing with a seller at ISs and no buyers . offering. Gontri-' bating Kaiapoi Woollens were dealt in during (the afternoon at 4s Bd, buyers’ closing offer remaining at the same figure, while sellers •' required. Id more. • For New Zealand Breweries shares buyers Were prepared to give 62s 3d, but sellers would not accept less than 635. Alosgiel Woollens Were inquired for at £7 12s, but without response by, sellers. ■ . Sales: New Zealand Express (ord:), 17s; Kaiapoi Woollen (cont.). 4s Bd. The following are j-esterday afternoon’s buying and selling quotations, which arc ■ubjeet to the usual brokerage:— BANKING. (Bank of Australasia—Set £l4 17s 6d. Bank of N S. Wales—Sel £52. Bank pf New Zealand—Sel 625. Commercial Bank—Buy 30s, sel 30s 4d. National Bank- of N.Z.—Buy £7, sol il 4s Union Bank—Sel £ls 12s’6d. BREWERIES.; N.Z. Breweries, Ltd.—Buy 625( 3d, sel 635. INSURANCE. National Insurance Co.—Buy I6s 6d. • . SHIPPING. ' 5 ' Hiiddart, Parker (ord.)—Buy 455, sel <ss 9d. Huddart, Parker (pref.)—Buy 21s. P. and O. Deferred. Stock—Buy 58s. U.S.S. Co. (pref.)—Buy 20g 9d. COAL. Taupiri Coal (ord.)—Buy 26s 3d. 1 Westport Coal Co.—Buy 32s 6d. Westpprt-Stockfon’(pref.)—Buy 3s Ipd. , LOAN AND AGENCY. Dalgety and Co-~Buy £ls 12s 6d. Goldsbrough, Mort—Buy 53s . 3d, sel' ■ C 4:? 3cl. ' National Mortgage—Buy, 85s. * ' N.Z. Loan and M. (ord.) —Buy £125. Perpetual Trustees—Buy 64s 6d. Trustees, Ex. and Agency—Buy 59s 6d. Wright, Stephenson (ord.) —Buy 265, •cl 295. - Wright, Stephenson' (pref.)—Buy X7s lOd. ' ' MEAT -PRESERVING. . Gear Meat Co.—Sel 43s 6d. N.2. Refrigerating -(pd.)—Buy 15s 6d. N.Z. Refrigerating (cont.)—Buy. 7s'sd, •cl 7s Bd. South Otago Freezing—Sel £5. .MISCELLANEOUS, Australian Iron and Steel (pref.)—Buy 20a 6d. Auckland Amusement Park (pref.)— eel, 14s. British Tobacco—Buy 475, sel -48 s. Brown, Ewing (pref.)—Buy 20s 6d. ' D.I.C. (ord.) —Buy. 10a 6d ,prem. D.I.C. (pref.)—Buy 20s ,9d. Dominion Investments—Buy 23s 6d. Dominion Rubber—Buy 30s, sel 31s od. Donaghy’s Rope and Twine —Buy 345. Dunedin-Kaikorai Trams—Buy 345. Dunlop Rubber—Sel.27s 9d. Eclipse Petrol—Buy 16s 6d. Kaiapoi Woollen . (ord.)—Sel. 14s 6d. Kaiapoi Woollen (cont.) —Buy 4s Bd, •el 4s 9d. Kaiapoi Woollen ((pref.)—Buy, 15s 3d. Alilburn Lime and Cement—Buy 38s 9d. Alosgiel Woollen Co,—Buy £7 12s. National Electric—Buy Bs. N.Z. Drug Co. (£2 pd.)—Buy 73s od/ ■el 75a 6d. N.Z. Guarantee Corp.—Buy 8s 6d, sel 9s. - - - 1 N.Z Paper Mills (ord.),—Buy 18s 6d. Nil, Sugar of Alilk—Buy 20s, sel -24 s 6d. Smith and Smith (pref.)—Buy 18s 6d: Taranaki Oil—(Buy 5a 6d; sel Os 3d. ■ Regent ■ Wilsons (N.Z.) Cement—Buy 41s 3d. AIINING. Nokdmai Sluicing—Sel 21s. Waibi —Buy 13s lOd, sel T4s 3d. ' Electrolytic Zinc (pref.)—Buy 36s 7d, ■el 36s lid. . Electrolytic Zinc (ord.)—Buy 355, sel 26s 6d. Alount Lyell—Buy 445, sel' 455. Upper Nevis —Sel 4s. Upper Nevis (pref.)—Sel Is disc; Big Beach—Buy 6s Od/sel Bs. ' Kildare—Buy 3a! Okarito—Buy IQd prem. Mah'akipawa—Buy Is.: WAR BONDS. . 4J per cent. Bonds! 1938—Buy £99 15s. ■el .£IOO ss/ . 4J per cent. Bonds, 1939—8uy £9,9 15s. *i per cent,. Inscribed, 1938 —Buy £99 15s. ■ .. . • , 41 per cent. Inscribed, 1939—8uy £99 15?, ' „ H- per cent. Soldiers’ Inscribed, 1933 Bel £lOl ;10s. • 5} per cent. Inscribed Bonds, 1941 Buy £B9 2s 6d. Si per cent. Bonds, ■ £99. - 5i per cent. Inscribed, 1933—8uy £99. NORTHERN EXCHANGES. (Pm United Press . Association.) ..Tke following business was done on Changes yesterday:— Auckland.—Sales./Hamilton Fire Board debentures (1939), 6(per cent., £103; HauPlains debentures (1962) 6 per cent., £103; Westport-Stockton Coal, 3s IdAuckland Gas/ 24s sd;- New Zealand Refrigerating (con.), 7s 61; Taranaki ■ Oil, 5g 10d; Waihi , Alining, 13s lid; Waihi Grand Junction, 9d; Alount Lyell, 44s 6d Wellington.—Sales. ; on . ’Change: New Zealand Refrigerating (20s pd.), 10s. On MnoSf’Llti cent - Government Stock (1038), £100; Commercial Bank, 30s 3d; Huddart, Parker, 47s 6d.’ Christchurch.—Sales on -’Change; Aust. Bank of Commerce. 36g (two parcels); Commonwealth Bank of Aust., 30s Id; New Zealand Insurance, 46s 6d; New Zealand Refrigerating (10s pd.), 7s sd;. Staples Brewery, 45s (four parcels); British ..Tobacco, 47s 9d (two parcels); Mahakipawa, Is 2Jd. Sales- reported: Commercial, Bank of Aust., 30s 2d (two , parcels); Staples Brewery, 465; Union btcam, 21s. . LONDON PRODUCE MARKET. The New Zealand Loan and Alercantilc Agency Company, Ltd., has received the following advice from London, dated May Butter —New Zealand choicest salted 164 s to , 1655. ■ Cheese, white, 88s; coloured, 90s. Alarkets steady. CEYLON TEA SALES. At ■ Tuesday’s . auction in Colombo 2,600,0001 b were catalogued. The quality is ■ reported to have been again inferior and prices declined 2 to 4 cents. There was fair demand at the lower rates. Next week 3,000,0001 b will be offered. JOHN FULLER AND SONS* DEBENTURES. Alessrs John Fuller and Sons, Ltd., made the allotment of their 6i per cent, first mortgage debentures on the minimum subscriptions of £200.000 on April 30, and notices: have been posted, to all applicants. LONDON TALLOW MARKET. The Bank of New Zealand has received the following cablegram from London:— Tallow. —The demand is rather quiet. Current quotations: - Good mutton. 42s per cwt; good beef, 41s; good mixed, 40s to 40s 6d; gut, 35s 6d to 37s 3d. , Alessrs Dalgety and Go., Ltd,, advise having received the following cablegram from London, dated Alay 1: Tallow; 915 casks offered, 303 casks sold. Alixed- good tallow is 6d per cwt lower. Other descriptions are unchanged. Mutton tallow has no demand.

LOCAL AND OVERSEAS MARKETS.

DUX ELECTRIC HEATERS. The issue of 25,000 9 per cent, guaranteed’participating preference shares in the Dux Electric Heaters’. Company is advertised. Only a limited number remain available, so. that application should, he,: made early to the company’s brokers. These products have been sold throughout New South Wales for the . past two years, and at the present time the monthly sales of each separate class of healer in that State, amount to several hundreds; As there are already about 250,000 consumers of electricity in New Zealand this country will be one of the best markets for these heaters, which are the only ones providing an almost instantaneous and continuous hot water supply. LONDON, WOOL SALES. Alessrs Murray, Roberts', and Co. have received the following cablegram from London;—. . Compared with the closing rates of the last London sales, the greasy merino market is irregular, the market for these descriptions being from par to 5 per cent, decline. Inferior nlerinos, suitable for topinaking, show; the greatest decline. BURNSIDE MARKETS. At the weekly stock sale at Burnside on Wednesday Alessrs Wright, Stephenson, and Co. sold,the following lots: — Fat Cattle.— : For 'W. Blackie (Alosgiel), 3 bullocks £24 ?5,6d,.2 £2l, 1 £ls 12s 6d; G. Fraser (Waimahaka), 2 bullocks £21," 5 £ls 12s 6d, 2 £l4, 1 heifer £16.155, 1 £l3 17 b 6d, 3 £ll 10s, 1 £11; Mrs- W. Kirk (Alosgiel), 1 bullock £l9 15s, 1 cow £l3; N. and T. Reid (Outram), 3 bullocks £l7, 2 f 15/1 £l4 10s, 2 £l3 2s 6d; J. A. (Sutherland (Alomona) ~ 3 bullocks £18; -W. and J. Cameron (Waitahuna), 1 cow £l6 17s 6d, 1 £IS 12s 6d', 1 £ls 2s 6d. 1 £ll 2 S 6d, 1 £8 15s, 2 bullocks £lO. 12e 6d; W. Lindsay (Allanton), 1 bullock £ls' 15s, T'£ls 2a 6d, 1 £l4 os; C. M|Phers6n (Alaheno), I cow £l4 10s; E. Lindsay (Allanton), 1 cow £l2; W. M'Auslin (Tokarahi), 2 cows £9, 1 £B. Store Cattle. —For D. Crawford and Sons (Forsyth), 1 bull £l4; W.-Lindsay (Allanton), 1 bullock £l3 17s 6d, 1 heifer £lO ,2s 6d, I £lO,. 1 £0 15s. 1 cow £7; lan Lindsay (Allanton). 1 cow £lO . 7e 6d; 1 £2 15s, 2 £2 10s; J. Bain (Halfway Bush),' 1 cow £9 4a, I £6,1 £5 17s 6d, 2 £5 25.; J. Jenson (East Taieri), 1 heifer £9, 1 £7, 3 £6’los; W/M'Bride (Tomahawk), 1 heifer £8 15e, I £B, 1 £7 ss, 1 £6 9s, 1 £5, 1 £4 X2s; .P. ARPherson (Wylie's Crossing), 1 heifer £8 ss, 9 £4, 1 cow £4 15s, 2 £4 ‘ 10s,. 1 vealer £4 Bs, 1 £4 4s, 1 £4, 1 £3 12s. 1 £3 9s. 7 £1 10s, 1 £1 -ss, I bull £3; D. ARlvor (Saddle Hill); 2 heifers, £7 17e, 1 £?■ 10s, 1 £7. 1 £6 2s 6d, 1 £3 15s; J. M'Neill (Mornington), 1 cow £7 10s, 1 £5 11s, 1 £5 08..1 £4 15s, 1 £2 10s. 1 bull £7; A. C. Winblekin' (Lookout Point). 1 cow £7 3s, I£4 16s;.J. Keown (Tomahawk),. I cow £5 19s, 1 vealer £4 4e; T. Alorris (Pukehiki,, 1 cow £5 14s; T. Alurphy (Glen Road), 1 cow. £6 2s 6d, 1 £5 Is; -W. Alurrgy (Sea View), 1 heifer £6 Is; G. Scott (Waitahuna), T steer £5; J. Solomon, (Port ; Chalmers), 1 cow £5; A. Carey (Port Chalmers)/ ' cow £4 ss; - N. and I. Reid (Ontram), 1 vealer £4. 2 £2 15s; R. Sim (Caversaam), 1 cow'£3 17s 6d, Dairy Co.we.—For J, ‘ Solomon.. (Port Chalmers), 1 dairy' cow. £10,2s 6d; JD. Weight: (North Taieri)-, 1 £9l7s 6d, I£9 _lob,'l £6, 1 £5-10s; John Pryde-(Morn-ington), T £10; W. ARBride (Tomahawk), 1 £7 12s 6d; R. Dick (Mount Cargill), 1 £6.106. . Calves.-—For* J. C; Stewart (Sandy* mount), 1 325, 1 345; R. Sim (Caversham), 1 16s, Fat Sheep,—For G. Scott (Waita-■ huna). 3 wethers 435,. pen ewes 35s 3d; A. Blatch (Wallatotown), 15 wethers 4ls 9d, 15 40s 6d, 13 40s, 11 35s 3d; P. Fraser. (Alorton Alains), 13 wethers 41s 6d, 19 32s 3d, 13 32s 6d, -3b 30s 9d, 38 29s 3d;- G. Fox (Waimahaka),; 9 wethers 41s 3d,'23 ewes 30s (3d, 17 ewes 28s, 9. 27s 9d; W. and J. Cameron (Waitahuna)! 10)wethere 40s. pen 20s, 16 ewes 29s 3d; G. Crawford (Pukerau), 17 wethers 39s 6d, 7 34s 6d, 19 328 l6d, 17 31s 3d; H. Pemble (Waikaka), 17 wethers 39e; 22 34s 9d, 15 31s 9d;- F. Trapski {Pukerau), 19 wethers 36s 3d, 20 32s 6d. 22 31s; W. E. Hunt (Wallacetown), 19" wethers, 33s '3d, 25 Sle 9d, 19 29s 9d; William Aysoq- (Waikaka), 16 ewes 30s, 23 25s 3d, 17 23s 6d; A. H. Chapman, sen. (Kurow), 15 ewes 22s 3d, 16 21 s 3d, 33 wethers 29s 6dp A, S. Turnbull (Galloway), 7 ewes ; 31 s 9d, 11 18s 9d; Captain Berkeley ' (Hyde), 6 wethers 245. Fat Lamba-Por A. S, Turnbull (Galloway), 27 lambs 32a 3d, 6 27s 6d. 13 265; Captain. Berkeley (Hyde), 4 31s. 7/29?,106 20s, 28 20s; William Ayson (Waikaka), 2- 1 30s 6d. TT-m- P'K.s- For T. ,Schofield (Saddle P 1!) ’_ 3 P>« a 17b; T. Taylor. (Otokia). o' IV -.?• (Palmerston), 3£4 3s, 3 £3 13s; J; Wilson (Maaeno), 1 £4, 1.£3 16s, 1 £3 9s, 1 £2 15s, 3 £2 75,, 3 £2 11s.-1 £2 5,,.l £l 15s, 2 £1; P. Cunningham (Wylies Crossing), 3 £3 I7s, I £3 G. Hughes (WylieV Crossinr)., 3£3 -X* A • ersoD ("Wylie’s Vi/roseing), 1 9s- r E. Geary (Portobello), 2 £2 12s.' - Store.Pigs.—For J. Watson (Alaheno), Nsow 10s: W. Renwick (Wingatui), 6 TALLOW AND TIN. (United ■ Press Association.) (By Electric Telegraph—Copyright.) ~ ~ ’ LONDON, Alay 1. At the tallow sales 915 casks were offered and 292 sold at about 6d decline. Mutton: Fine, 42s 9d; medium, 37s 6d. Beef; Fine. 43s 6d; medium, 37s 6d. Stocks. 1786 casks; imports, 1490: deliveries/ 1038. • Tin: Visible. 25,395 tons; spot. 1478; afloat. 2290; deliveries, 2457. —Austra-lian-Press Association. . ‘ PRICE OF FINE GOLD. (United Press Association.) (By Electric Telegraph—Copyright) ~ . LONDON, Alay 1. Fine gold.is quoted at £4 4s lid per oz.—Australian Press Association. LONDON WOOL SALES; (United Press Association.} (By Electric Telegrapli Oopyrlgtu.) LONDON, Alay 1. At the wool sales 8247 bales were ‘ offered, of which 2869 were New Zealand. There was an average selection of merinos, including a quantity of average style scoured. There was a medium offering of all descriptions of crossbreds. There was good general competition, and the opening rates were maintained. New Zealand sales: Birchill, 21Jd and 20jd; Braxton, 18d and 17d; Mason, Hills, 21id and 20d.—Australian Press Association. SYDNEY WOOL SALES. (United Press Association.) (By Electric Telegraph —Conyrlgnt ) SYDNEY. Alay 2. (Received Alay 2, at 10 p.m.) At the wool sales to-day 11.500 bales were sold. There was good Continental competition, .ind the market closed without material change. Greasy merino fleece made 25d. •

AUSTRALIAN MARKETS. (United Press Association.) (By Electric Telegraph -Copyright.) SYDNEY, May 2. (Received May 2, at 10 p.m.) Wheat: Country stations, 3s lid; ex trucks Sydney, 4s 6d, Flour, £ll. Bran, £6. Pollard, 17. Potatoes: Tasmanian, £l7; Victorian, £l4. Onions; Victorian Spanish, £12.; New Zealand, £l3; Globes, £ll. Oats: Algerian. 4s. ADELAIDE, May 2. __ (Received May 2, at 10 p.m.) Wheat: Growers’ lots, 4s 4Ad. Flour: . Bakers’ lots, £lO I2s Od. Bran and pollard, £6 7 Oats, 2s lOd. UNITED STARR-BOWKETT SOCIETY. A meeting of members of the United Starr-Bowkett Building Society was held in Messrs J. W. Smeatou and Co.'s office last evening to dispose of £3BOO, making a total of £i1,600 disposed of during the last three months. Air FI. A. Rosevear, chairman of directors, stated that applications for shares in the new No. 11 group were coming in satisfactorily, and a ballot would be arranged at an early date. In a ballot of £SOO for the hundred and fifty-second appropriation, in' No. 3 group the successful number was cluster No, 42, held by one shareholder. A ballot of £SOO _ for the hundred and fifty-third appropriation in No. 3 group went to cluster No. 7, held by one shareholder. The .ballot for £SOO for the ninety-sixth appropriation in No. 4 group was won by cluster No. 91, held by one shareholder. A sale of £SOO for ninety-seventh, appropriation in No,- 4 group resulted in £SOO being disposed of at £l9 per £IOO A ballot of for the thirty-ninth appropriation in No. 9 group was drawn by cluster No. 267. held by one shareholder. A sale of £SOO for the fortieth appropriation in No. 4 group was then taken and the money sold at £36 per £IOO. The result of the-sale of £BOO for the fourteenth appropriation in No. 10 group was that £SOO was disposed of at £35 .per £IOO