COMMERCE AND FINANCE

Otago Daily Times, Issue 20741, 12 June 1929, Page 5

COMMERCE AND FINANCE

THE SHARE MARKET.

DUNEDIN STOCK EXCHANGE.

A , parcel of New Zealand Breweries shares changed hands at 71s 6d on the otock Exchange yesterday, the market closing with a buyer at-70s 9d and. a seller at 725. Business was also reported in the same shares at 72s and 71s 9d. For Union Banks buyers were prepared to give £ls 14s 6d, but sellers did not come forward. A transaction was re ported at £lo 15s 6d. Dunedin Breweries ■were in demand at 29s 3d, but sellers remained firm at 305.. A sale of Huddart, Parkers at 45s 6d wea reported, the closing buying and selling quotations showing a margin of 3d either way on the sale price. Buyers of Gear Meats were prepared to give 42s 6d, ex dwidend, but sellers were reticent. Regent Theatres were in better demand at 245, but sellers oid not respond. ... Sale.—New Zealand Breweries shares, 71s 6d. Sales Reported.—Bank of Australasia. £l4 15s; National Bank of New Zea‘“ud. £7 Is 9d: Union Bank, £ls 15s 6d; Christchurch Gas. 27s Id; New Zealand Refrigerating (cont.), 7s 6d; Wilsons Cement, 41s 9d; New Zealand Breweries shares, 725, 71s 9d (3); Huddart. Parker. 4os 6d. . The following arc yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage:— BANKING.

Bank of Australasia—Buy £l4 14s. Bank of New Zealand—Buy 62s od, scl vos 3d. Commercial Bank—Sel 30s 4d. E. S. and A. Bank—Sel £8 lie 6d. National Bank of New Zealand—Buy £7 Is, sel £7 2s. Union Bank—Buy £l3 19s 6d. BREWERIES. New- Zealand Breweries. Ltd.—Buy 70s fld. sel 725. ■ o Zealand Breweries Debentures— Bel ,26s 3d. Dunedin Brewery—Buy 29 s 3d, sel 30s. Staple a Brewery—Buy 48s, sel 48s 9d. INSURANCE. National Insurance Co.—Buy 16s 2d sel 16s 4d. ’ A.P.A. Insurance Co.—Sell 11s. Standard Insurance Co.—Buy 60s OJ, SHIPPING. Huddart, Parker (ord.)—Buy 45s 3d, •el 4db 9d. ■ Huddart. Parker (prefj—Buv 2ls. Dnion Steam Ship Co. (pref.)—Buv 20s 6d. 1 . • COAL. - Westport Coal CV—Bny 33s 9d, sel Sos. ‘ * Westport-Stocktou (ord.)—Buy 3s Id, acl 3s 6d. f Westport-Stockton (pref.)—Buy 4s 3d. Christchurch Gas—Buy 275. LOAN AND AGENCY. Dalgety and Co.—Sel £l3 Bs. Goldsbrough,' Mort—Buy s ls, sel 51s vd. National Mortgage—Buy , 87s, sel' 90s. New Zealand Loan and M. (pref.) Buy £BS. Perpetual Trustees—Buy 665. Trustees, Executors, and Agency—Buy 60s. Wright, Stephenson (pref.)—Buy 17s 10d, MEAT PRESERyiNG. Gear Meat Co.—Buy 42s 6d, ex div. - New Zealand Refrigerating (paid) Buy 16s Sd.-sel 16s Bd. _ New Zealand Refrigerating (cont.) — Buy 7s 3d, sel- 7s Bd. MISCELLANEOUS. Australian Iron and Steel (pref.f— Buy 21s. British Tobacco—Buy 49s 3d, sol 50s. Brown, Ewing (ord.)—Buy 30s 9d. Brown. Ewing (pref.)—Buy 20s 6d. Bruce Woollen Co. l —Buy 9s. Crystal Ice Co.—Sel 26s 6d. 5-I-C. (ord.)—Buy 10s Sd prem. • D.I.C. (prof.-)—Buy 21s. Dominion Investments—Buy 245. Donaghy’s Rope and Twine— Buy 355. Dunedin-Kaikorai , Trams—Buy 395. Dunlop Rubber —Buy 275, sel 27s Od. Eclipse Petrol—Buy 16s. Kaiapoi Woollen (pref.)—Buy 15s 6'd. Milburn Lime and Cement —Sel 39s cd. Mosgiel Woollen Co.—Buy £7 12s. National Electric—Buy 9s 3d.New Zealand Drug (£2 paid)—Sel 7Ca. New Zealand Guarantee Corp.—Buy 0s cd.

New Zealand Paper Mills (ord.) —Sel 10s 9d, Smith and Smith fpref.)—Buy 18a 9d. Regent Theatre—Buy 245. - New Zealand Farmers’ Fertiliser—Buy 21s 3d, sel 22s 6d. Wilsons (N.Z.) Cement—Buy 41s 6d, Bel 42s 3d. MINING. Kawarau Gold Mining Co.—Buy sd. Nokotnai Sluicing—Buy 19s, sel 20s. 1 Waihi—Sel 12s f 9d. Electrolytic Zinc (pref.)—Buy 36a 6d, Bel 37s 6d. Electrolytic Zinc (ord.) —Buy 365. Mount Lyell—Buy 42s 6d, eel 43s 6d. • Big Beach—Sel 7s. Kildare—Buy 3s lOd. scl 3s lid. ' Okarito —Buy lOd prem,'sel la Id prem. WAR BONDS. i 4J per cent. Bonds, 1938—Buy £99 17a ' €d. 44 per cent. Bonds, 1839—Buy £99 17s 6d. 54 per cent. Soldiers’ Bonds, 1933—8uy £lOl sa. 44 per cent. Inscribed, 1938—Sel £IOO. 54 per cent. Soldiers’ Inscribed, 1933 Buy, £lOl ss. 5i per cent. Inscribed Bonds, 1941Buy £9O ss.' 54 per cent. Bonds. 1936—8uy £lOl ss. 54 per cent. Inscribed, 1936—8uy £lOl is. 54 per cent. Bonds. 1933—8uy £O9. 54 per cent. Inscribed, 1933 —Buy £99. NORTHERN EXCHANGES. (Pee United Pbess Association.) The following business was' done on 'Changes yesterday:— _Auckland. —Sales; National Bank of New Zealand, £7 Is 6d; Bank of New Zealand, 635; National Mortgage and Agency, 88s Od; New Zealand Breweries, 725; Farmers’ Trading Company, Ss 6d; Wilsons Cement, 41s 9d. Wellington.—Sales reported; Goldsbrough, Mort, and Co., £2 11s 8d: National Mortgage and Agency Company, £4 8s 6d; South British Insurance Company, £3 5s 9d (two parcels); Gear Meat Company, £2 2e 6d (ex div); Westport Coal Company, £1 14s 8d; New Zealand Breweries, £3 11s 6d; Staples and Co., £2 8s fid; Electrolytic Zinc Comonny (pref.), £1 17s 14d; National Bank of Lew Zealand, £7 Is '6d; Bank of New Zealand. £3 3s. • Sales; South British Insurance Company, £3 5s 9d; Staples and Co., £2 8s 6d. Christchurch.—Sales: National Bank of Australasia (£5 paid), £9 11s Gd; Huddart, Parker, 45s 7d; ,New Zealand Government 44 per cent. Inscribed (1938), £O9 15s (four parcels); Staples Brewery, 48s 6d; Tooths Brewery, 59s 9d; Australian Distilleries, 225; British Tobacco (cum div), 49s 3d (two parcels); Mahakipawa, 9d. 9Jd. Sales reported: Bank of New Zealand (cum div). 635; New Zealand Farmers’ Co-op. 64 per cent. Stock (1939), £9O. LONDON FRUIT MARKET. QUIET MARKET REPORTED. The secretary of the Otago Provincial Fruitgrowers’ Council (Mr H. Turner) reports having received the following advice from the Department of Agriculture in reference to the London fruit market: The market has been quiet during the last few days, and prices have been a little lower. The Westmoreland apples landed in a fair condition, but the pears were variable. There was considerable waste in Comice and Winter Cole pears. Prices are as follow: Apples.—Statesman and Cleopatra, 13s to 16s per case; Dunn’s Favourite, 12s to 14s 6d; Delicious, Rome Beauty, King David and Premier, 11s to 14s; Jonathan, 11s to 14s. up to 15s. Pears. —Sound fruit: Comice. 10s to 15s single tray; Winter Cole. 4s to 5s single tray; Winter Nelis, 5s to 7s single tray, 8s double traj.

LOCAL AND OVERSEAS MARKETS.

WALLACETOWN STOCK SALE. (Specui to Dau.7 Times.l INVERCARGILL. June 11. . There were larger yardings in most sections at the weekly Wallacetown stock sa.: to-day, and good quality stock met wuth.a demand that was strengthened by the presence of several outside buyers. As a result prices remained steady, without any appreciable variation from those received a week ago. The question of the continuation of the weekly fixtures will come, up for review at the end of this month, and it may be expected that the matter will receive caretul attention from all parties. There is no doubt that the weekly sales have Deen a great success, but opinion appears to be divided concerning the advisability ot their continuing during the period of the smaller markets. Cattle.— There was a good yard* mg of well-bred, well-conditioned cattle, consisting almost wholly of a consignment of Hereford cattle from the Burwood and b,entre Hill Stations on account ot Messrs *''• L. and J. S. Hazlett. These were probably the best store cattle seen at .Wallacetown for a long time', and considerable interest was shown in them by cattle men from further afield than Southland. , The sale was a good one, and prices realised must be considered satisfacf ! vc, J d ° rs - Sales were as fob .lows 36 fat and forward three and a-half r,o U h bullocks - £l2 12s 6d; 35 do, £l2l 2b 6d; 50 two and a-half and 1 three-jear-olde. £l2; 60 two and a-ha!f year ’rJ, n f°„ rward condition, £9 ]?s 6d; 15 do £9; 60 speyed cows*, with a big percentage of fat among them, £lO. The remainder of the yarding consisted of oddmenta of empty cows, which realised from £3 10s to £5 10s. A few pens of small on?" c , . efi made from 3os to’sss. The .dairy section was only a small one, consisting chiefly of factory calvers. the demand; for which was not, very keen Cood sorts showing in calf realised from , ,P S . £o £6 10s, with poor and lower conditioned sorts down to £3 10s. hat cnttle.—The entry comprised about two-thirds of the number displayed at the last sale, and the quality was only medium. A lew pens of well-finished quality beef nas represented, in which section the prices realised were about on a par with those of the last sale, and no rise vas noticeable. The quality all round was inferior to that of the last sale. Extra prime bullocks realised up to £10; medium weights, from £l2 to £l3 10s; lighter sorts, down to £lO 10s; extra prime cows, up to £l2; medium weights, from £8 to £lO IDslighter sorts, down to £6 10s; prime rfi l^uyS b UP rc£ o 10s; %bter sorts, from to ids to £B. Runners realised full market rates;

Store Sheep.—The yarding in this section consisted of a few pens of lambs and a couple of pens of aged ewes. Forward condition mixed sex lambs made up to 24s j 10d; good wether lambs, 22s 6d: medium mixed sex lambs, 19s lOd; aged and inferior ewes, 7s 9d to 10s. Fat Sheep and Lambs.—The yarding was double that of a week ago in'numbers, and comprised a fair proportion of prune wethers, with a fair number of heavy butchers’ ewes and a lesser quantity of good freezing ewes.. The supply was rather in excess of local requirements, but a few outside buyers were present, and a result prices were fully maintained. Ihe fat lamb section was a, full one. but the quality was not good, and in most cases there was always present a percentage of inferiors. These inferiors could not be classed with traders of any quality at the freezing works. The prices all round for fat lambs _were good and schedule rates were fully maintained. Competition for anything of fair average quality was particularly keen. Extra prime wethers realised up to 365; good medium weights, from 31s to 33s 6d; lighter sorts, down to 295; extra prime heavy ewes, up to 28s; good butchers’ ou'cs. from 22s to 255; freezing ewes, from 17s 6d to 21s 6d according to weight and quality; extra prime, heavy butchers’ lambs, up to 375; good, freezing lambs, from 28s to 31s; lighter sorts, down to 2Cs.

RABBIT SKIN SALE. The Dunedin Stock Agents and Wool Brokers’ Association ■ (Messrs Wright, Stephenson, and Co., Ltd., Dalgcty and Co., Ltd., .New Zealand Loan and Mercantile Agency Company, Ltd., Donald Reid and Co., Ltd., National Mortgage and Agency Company, Ltd., Stronach. Morris, and Co., Ltd., and the Otago farmers’ Co-operative Association, Ltd.) report as follows: There was a full attendance of buyers at yesterday's sale when large catalogues were offered. Bidding was not so keen as at last auction and values were lower by 4d on racks and summers, 2d to 3d per lb on autumns and incomings, 2d per lb on winters, and up .to 3d per lb on spotted sorts. Prices being paid are still very satisfactory. We quote:— Weevily. 26d to 40d; second broken, 3ld to 32} d: autumn broken. 42d to 45}d; first winter broken, 50}d to 54d; runners and suckers, 25Jd to 4(4(1; summers, 30}d to 36d; summer bucks, 33d to 33Jd; light racks, 48}d to 48Jd; prime racks, 47Jd to 48d; dawny autumns, 48d to 49; early autumns. 52d to 56}cl; autumns, 63d to 66}d; second incoming, 53Jd to 50d; incoming winters, 733 d to 79.}d; early winter bucks, 80d to 883 d: early winter does. 823 d to 88d; first spotted winters, 56}d to 07Jd; second winter bucks, 64d to 66|d; second winter does, 80d to 87}d; first winter bucks. BGd to Olid; first winter does, lo4|d to IlOd; prime bucks 923 d to 98d; prime does, 116}d to llYd; second spotted winters, 46}d to 56Jd; springs, 40}d to 4.53 d; milky, 33d to 41 id; fawn, 581 d to 83}d; winter fawn, 103 d to 112 d; summer black, 36d to 44}d; autumn black, 60d to 70}d: first winter black, 94}d to IlOd; second winter black, Cod to 77}d; harcskins, 39}d to 52d; horsehair, 18d to 20d.

ANGLO-PERSIAN OIL COMPANY. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 10. The Anglo-Persian Oil Company has declared a dividend of 12A per cent, for the nine months to December 31 1928 This means that the British Government will receive about £703,000 on its Holdings, —Australian Press Association. " ’

LAMB EXPORT PRICES. (Per United Press Association.) WELLINGTON. June 11. The New Zealand Meat Producers' Board advises that the following prices wore being offered for fat stock for export at Juno 10, 1929: Canterbury prime woollv lambs. 3Gib and under, I0d; 37/421b. 9d; 431 b and over, Sid; second quality lambs, Sgd. Southland prime woolly lambs. 3Glb and under, 9Jd; 37/421b, 83d; 431 b and over, BJd; second quality lambs, 361 b and under, B|d; over 361 b, Tgd,

CANTERBURY MARKETS. (Pee United Press Association.) CHRISTCHURCH. June 11. Potatoes arc firmer than they, were a few days ago. Quite a good inquiry for them came from Auckland. No quotations for June are /under £5 10s, f.0.b., s.i., whereas recently the figure was £3 7s fld. July, August, and September deliveries are quoted at £6 7s Cd, against £6 ss. The price paid to farmers, on trucks at country stations, is £4 as. Dakotas are in demand from Wellington, the price in respect of these to farmers, on trucks at country stations, being 15s more than for whites. The Kaimanawa sailed for Auckland on Saturday, having OH board 1821 sacks from Lyttelton. The next vessel to load for Auckland is the Wainiata, about Saturday next, and the Waikouaiti is expected to sail about Monday next with cargo from both Timaru and Lyttelton. Since the season commenced some 46,793 sacks of potatoes have boon shipped to Auckland from Lyttelton) and 32,694 sacks to Wellington, as Auckland usually takes about twice the quantity that Wellington does in the course of a season. It would appear from these figures that Wellington's requirements are growing considerably. It may happen, however, that the Auckland figures, will adjust themselves before the final shipments are made. Meanwhile, farmers who have finished their digging and have put what potatoes they have in pit arc showing reluctance to sell. The price of partridge peas to farmers, on trucks at country stations, is 4s 9d per bushel for No. I’e. There is a fair demand for chaff at an advance of 2s 6d per bushel on late rates, the prices being £5 15s, f.0.b., s.i., and £4 on trucks.

DON’T MISS THIS CHANCE. METROPOLIS LTD. Thisis a once in a lifetime opportunity —get in at the start, and reap the rewards of priority. Consider the varied nature of the proposal—shareholders are not dependent merely on one source of revenue. Consider the attractions of a covered shopping avenue between The Terrace and Lambton quay, and its “handiness” to a large residential population; the sure demand for flats in so accessible a situation; the' popularity of the garage accommodation; the urgent need for a centrally-situated and large restaurant and grill room; the sure profit-earning power of a modern hotel in such an ideal situation facing Featherstou street, with the new central railway station and the wharves only a few miuutee away! By means of economy in the purchase of property, combined with favourable methods of finance, it is intended to lease the accommodation in the Metropole at such low rates ■ ag to be beyond competition from buildings of similar status. Attractive rentals should ensure immediate and steady occupancy of the flats, shops, and garages, and good profits from the hotel and restaurant. The flats may be i6t at about £2 10s per week, as against £4 4s to £6 6s now charged for less modern flats in leas accessible situations Copies of the prospectus may be obtained from the organisers, F. W Devereli and A. W. Gibson and Co., Ltd., Wellington; from the office of the company; oi from Messrs A. Gilchrist and Co., sharebrokers, 53 Crawford street, Dunedin — Advt.