COMMERCE AND FINANCE

Otago Daily Times, Issue 20991, 2 April 1930, Page 6

COMMERCE AND FINANCE

THE SHARE MARKET. DUNEDIN STOCK EXCHANGE. Two sales of Bank of Zealands were reported on the Dunedin Stock Exchange yesterday, one parcel changing hands at 57s and the other at 57s 3d. Inquiries were made later at 575, out sellers would not do further business at less than 57s Od. Business was also reported in Commercial Banks at 225. Ihe closing quotations for these shares were 21s lid (buyers) .and 22s Id (sellers). A parcel of National was reported to have Ranged hands at 14s 3d. Buyers later offered 14s 2d. but sellers wSuld not take less than 14s fidSales reported: Bank j0 f New Zealand. 575, 57s 3d; ComiViemal Bank, 2-s, Na tional Insurance, 14a 3d. The following are yesterday afternoons buying and selling quotations, which are subject to the usual 'brokerage; BANKING. Bank of Austdalasia —Buy £l2 9s cum dl Bank of New Zealand—Buy 575, sel 57s Commercial Bank —Buy 21s lldf sel 2«s Union Bank —Sel £l2 3s. INSURANCE. National Insurance Co. —Buy 14s 2d, sel 148 6d ‘ ' SHIPPING. Burns Philp—Buy 365. , . Huddart, Parker (ord.) —Buy ,35s fid. Huddart, Parker (pref.)—Sel 20a od. P and G. Deferred Stock—Buy 49a 6d. Union S.S. Co. (pref.)—Buy 20s. , coal: . Westport Coal Co.—Buy 30s 9d. Westport-Stockton (ord.) —Buy Is. LOAN AND AGENCY. Dalgety and Co. —Buy £ll. Goldsbrough, Mort—rßuy 325, sel 335. National Mortgage—Bel 725, Trustees, Executors, and Agency—Huy *°Wright, Stephenson (ord.) —Buy 21s 6d Wright, Stephenson (pref.)—Buy los 9d MEAT PRESERVING, N.Z. Refrigerating (conL)— Buy ss, eel 68 sd ‘ MISCELLANEOUS. British Tobacco— Buy 41s 3d, sel 425, Brown, .Ewing (pref.)—Buy 20a. , Colonial Sugar —Buy. £43, se. t 43 los. DJ.C. (pref.)—Buy 20s 9d. Kaiapoi.WoOllen. (ord.) —Buy 11s. Kaiapoi Woollen (cont.) —Buy- 3s od, Lime and Cement —Sel 34s 9d Rational Electric—Buy 9a 9d, eel 10s N.Z. Drug Co,—Sel 71s. ■ N.Z. (ord.)—Sel 14s. N.Z. Farmers* Fertiliser—Sel 20s 3d. i N.Z. Paper Mills (ord.)— Buy 19a 3d. »el 20s 6d. ■ ■ ■ . _ , .. Wilsons (N.Z.) Cement —Sel 40s. BREWERIES. N.Z, Breweries, Ltd. (ex rights)—Buy 51s 9d cum diy. , - ./■ ~ Staples Brewery—Buy 48S fid. . mining. : ' Electrolytic Zinc (pref;)—Buy .27s 9d. Electrolytic Zinc (ord,)— Buy 275, sel 27s fid. . Mount Lyell—Bu/ 34s 9d. Paddy’s Point—Buy 2s 6J, sel 3s.Sd. Okarito —Buy Is prem.// , .'. Winding Creeic (cont.)- —Sel 4d prem. Stoney Crceek—Sel ,4d prem. WAR BONDS. 4i per cent. Bonds, 1938—Buy 197 ss. 44 per cent. Bonds, 1039 —Buy £97 65., 4} per cent. Bonds, 1941—Buy £97 6s. 5J per cent. Soldiers’ Bonds, 1933 —Buy £99, 44 per cent. Inscribed, 1938 —Buy £97 ffs • ’ 1 . 44 per., cent. Inscribed, 1939 —Buy £97 54 per cent. Bonds, 1936- —Sel £99.105. NORTHERN EXCHANGES. (Per United Press Association.) The following .business was done- on ’Changes yesterday:—. „ _ Auckland.—Sales: Bay of Plenty .Power Board (1963) 52 per cent., £99; Commerr cial Bank of ■■Australia* 22s 2d; Bank_o£ New South Wales, £39; New Zealand Insurance (late sale Monday). 43s 9d and 43s 94;-Newtori, King (pref.) , 11s 7d; Renown Collieries (ord.), i-15e; Auckland Gas, 23s 8d! Huddart, Parker: (pref.), 20s; Union Steam Ship (pref;), Farmers’ Trading,’ 8s 7d ; Albnrma, 4d. _: Wellingtoi).—Sale: National Electric, 10s fid. -. . ’ 1 - . _ , Christchurch—Sales; Australian Bank of Commerce, 26s 3d, 25s 4d; Commercial Bank of Australia, 22s (two parcels); New Zealand - Breweries (ex div., ex rights), 51a fid. Sales reported: National Bank of Australasia (£5: pd,), £7 7a fid; Bank of New, Zealand, 678 3d; Mount Lyell (late sale, March,-SI), 355; Australian Bank .of Commerce,. 25s 3d, 25s 4d., CANTERBURY MARKETS. ' (Per . United Pdees Association.) CHRISTCHURCH, April, 1. Merchants agree that March this year, was the quietest that, has been known for many years, .. 1 , , Wheat continues to come forward freely, and • prices remain unchanged. Quotations are; —5s Sd, on trucks, for uscan; 5s lOd for Hunters; and 6s 2d for Pearl. Threshing returns are eagerly awaited, as it is the general opinion that the yield may fall a good deal below early expectations. .... Oats are offering in limited quantity. Prompt, oats at Lyttelton are very hard to obtain. Southern oats are a shade easier, and are now being quoted at 3s lOd to 3s 104 d, while this afternoon some were on offer-at 3s a shade firmer, as there is not a great quantity of this class' available this year. Fowl wheat has been ’ scarce, but during the past few days there has been a little more offering. The_ quotation is 5s lOd, f.o.b. The potato market ia weak. Two more fairly heavy, shipments leave for Auckland this week. The lot of 5000 sacks which was sent to Auckland by the last boat did not meet with a very good- market, selling at £6 sa, ex steamer, Auckland. Quotations locally remain unchanged at £4 12s fid for April-June, £o 10s for Juiy-Septombai'/ and £5 for July alone. The on-truck prices are £3 10s tor whites and up to £3 15s for Dakotas, The onion market is very weak, and values are still quoted/at £2 5s a ton. on trucks* The* general trend of the small seeds section of .the market is downwards. Tins season about 35,000 sacks of ryegrass were imported from Ireland, but it has arrived in very poor, condition, beuii' musty and below weight. _ There is little or no demand frotn outside for autumn trade. There is little ryegrass in Oanterburv. but it is meeting with a weak sale. The on-trucks price of white clover is 8d to 104 d per lb. The first of the new crop of Blenheim cowgrass is appearing on the market. Farmers’ ‘ dressed > lots are being offered at 7d per lb, but that figure is a long way above merchants ideas of values. There is practically no sale for cocksfoot. Machine-dressed Akaroa is quoted at 124 d. The southern crop of dogstail ia now entering the market, but it is a smaller one than usual. There was a hig carry-over from last year. It is quoted at 7d to 8d per lb, fo.b.. for machine-dressed. SYDNEY WOCL SALES. (TJliltea Press Association.) (By Electric Telegraph—Copyright.) SYDNEY. April 1. (Received April 1, at 10 p.ra.) At the wool sales the offerings totalled 8405 bales, 8942 being sold, in addition to 4617 privately.’ There was a keen and widely distributed competition, and the market was firm at the best point of tne week with some improvement in prices. There was particularly spirited demand for skirtings, and greasy merino fleece brought 26.1 d.

LOCAL AND OVERSEAS MARKETS.

LONDON WHEAT- MARKET. (United Pres’s Association.) (By Electric Telegraph—Copyright.) LONDON. March 31. r Cargoes arc steady in sympathy with American advices. Sellers’ ideas are occasionally 3d higher, but buyers are not responding. Futures: London: —i/y* 6d: July, 365. Liverpool: May, 7s «4ff, July, 7s 9d net; October, 7s lOd and /s 8d net. ■ WALLACETOWN STOCK SALE. (Special to Daily Times.) INVERCARGILL, April 1. The weekly Wallaeetown sale was held to-day, and, with one or two exceptions, there was a dragging market. As sale on Tuesday. April 22, falls on Easter Tuesday, it was arranged at a meeting oi butchers and auctioneers to-day that tne sale be omitted from the schedule, but that a double market be held on Tuesday. April Is, at Wallaeetown •Fat Sheep.—The yarding of fat sheep was smaller than for some time, ana comprised a greater number of freemu? ewes, with a small sprinkling of punu wethers. Throughout, ’ the sale was a very dragging one, and prices cased con-siderably-on those ruling a week agoThe bulk of the yarding was disposed ol at auction, showing that vendors are inclined to meet the market, rather than face future prospects. Prices may be quotedr-Extra prime wethers up to 27s 6d; medium-weights, frorn 22s Od to .255, prime butchers’ ewes, up to 17s; freezing owes, from ,12a to 14s; lighterßortsdown to 11a.' Prime lambs brought up to 26a 9d; % good freezing lambs, from 20s to Del: lighter sorts, down to 18s, Pat Cattle—The yarding of fat cattle was larger by some 25 £ead . than last week. Prices opelied about on a par witn those ruling a week ago, and throughout the sale little interest was shown, it. was a particularly dragging eale,_,anc. prices declined as it progressed, -mere was a fair entry of vealers, which sold at a slight reduction on last sales values. Prices may be quoted as follows:—Prime bullocks, up to £l3 7s fid; medium-weights, from £ll to £l3; lighter sorts, down to £9; prime heavy cows, up to £ll. ids, medium-weights, £7 to £8 10s; lighter sorts, down to £4 Iss;_ prime heifers, up to £0 10s; medium-weights, from £7 ids to £8 10b; lighter sorts, down to £4 ids; vealers, from 30s to £4. Store-Cattle.—The sale for store cattle was duller than has been experienced « these yards for a long time. The yardingwas only medium, consisting of turn pens of three and a-half year old bullocks, a pen or two of 18-months-old steers, the balance calves ’and oddments of empty cows.'. Thie aged steers, which were well grown and in forward condition, were passed in at £9 10s; IS-months’ stera sold at from £4 to £5 10s; steer calves, at £2 to £2 19s for well-grown, well-conditioned sorts. Fresh-conditioned empty cows were making from £4 to £4 10s. Store Sheep.—There was a large yarding tin the store sheep section, and prices,, if anything, except for exceptionally good ’quality, were a little easier. A line ox . exceptionally well-bred /and. .well-grown Eoifarey cross ’ two-tootb ewes realised 32s 6d: fouri six, and eight-tooth guaranteed ewes made np to £1; full-mouth ewes, 15s to 17s fid; fresh-conditioned failing-mouth 9s to, 12s; aged and inferior, down to 4s; . good Romney cross ewe lambs sold at T7s Od; medium quality mixed-sex. 10s to 12s. -

TARANAKI OILFIELDS. LTD. (Peb United Press Association.) GISBORNE, April I.' Tho Taranaki Oil’report statesGisborne No. 2 well: Am experiencing difficulty in holding up the caving of the shale between 3800 feet and 3895 feet. Am now making a further effort with a somewhat modified method. LONDON WOOL SALES. The best New Zealand, greasy crossbred' mdde Hid and Makarewa halfbred slipe lambs Hid. • V . .. . ,