COMMERCE AND FINANCE

Otago Daily Times, Issue 21198, 2 December 1930, Page 13

COMMERCE AND FINANCE

THE SHARE • MARKET,

DUNEDIN STOCK EXCHANGE.

No sales were recorded on the Stock Exchange yesterday. Bank of New bouth Wales shares were on offer at £3O Hs;- ex dividend, but buyers did not respond,- Kaitangatas were inquired for at 2s discount, but sellers remained firm at Par. Sellers were prepared to dispose of DaigeCy and Co. shares at £B. but buyers best offer was £7. There was an easier demand for British Tobaccos, buyers offering up to-30s, whilst sellers asked-325. New Zealand Drugs were on offer at 59a but buyers were reticent For New Zealand Breweries shares buyers offered 42a 3d, sellers’ lowest requirement being 43e, Preferred Electrolytic Zincs were inquired for at 16s 9d but no response was received from sellers. After last call two sales of Mount Lyells were reported—one at I9a 4d and the other at 19s -3d. Sales reported after-last call: Mount Lyell 19s 4d, 19s 3d (cum div.). The following are yesterday afternoon's buying and selling quotations, which are subject to the usual brokerage:— BANKING, , Bank of Australasia—Sel £lO. Bank .of N.S. Wales—Sel £3O 10s (ex div.). Bank of New Zealand—Sel 54s (cum div.). , Commercial Bank—Sel 16s 9d. E.S._ and A. Bank—Sel £5 3s. National Bank of N.Z.—Sel £5 10s. Union Bank—Buy £9, sel £9 12s. INSURANCE. N.Z. Insurance Co.—Sel 42s 9d. Standard Insurance Co.—Sel 50s, SHIPPING. Huddart, Parker (ord.) —Sel 26s 3d. P. and O. Deferred Stock—Sel 455. U.S.S. Co. (pref.)—Buy 20s, sel 21s. COAL. Eaitangata-—Buy 2s dis., sel par. Westport Coal. Co. —Sel 27s 6d. LOAN AND AGENCY. Dalgety and Co.—Buy £7, sel £B. Gpldebrough, Mort—Buy 19s 3d. MEAT, PRESERVING. N.Z. Refrigerating (paid)—Buy 8s 6d, sel 10s. • • MISCELLANEOUS. Auckland Amus, Park (ord.) —Buy Is, •cl ,2s; British Tobacco—Buy 30s, sel 325. Bruce Woollen Co. (ord.)—Buy 10s. Crystal Ice Co.—Buy 21s: Dominion Rubber—Sel 16s. Donaghy’s Rope • and Twine—Buy 33s 6d. National Electric—Buy 9s. N.Z. Drug Co.— Sel 595. N.Z. Paper Mills (ord.) —Buy 18e, sel 18a 9d. Wilsons (N.Z.) Cement—Sel 41s. BREWERIES. N.Z. Breweries, Ltd. —Buy 42s 3d. sel 435. . N.Z. Breweries Debent.—Buy 21s. Dunedin. Brewery—Sel 20s. MINING. Electrolytic Zinc, (pref.)—Buy 16s 9d. Mount Lyell—Buy 19s, sel 20s. King Solomdh—Sel lid. Golden Progress—Sel Us prem. Okarito—Buy ss4d, sel 6$ 9d. Paddy’s Point—Sel 3s. Cornish Point—Sel 4d. WAR BONDS. 4i per cent. Bonds, 1938—Sel £99 15s. 54 per cent. Soldiers’ Bonds, 1933 — Buy £99 ss. 44 per cent. Inscribed, 1938—Sel £99 10s. 5i per cent. Insc. Bonds, 1941—Sel £9B ss. 54 per cent. Bonds,.l936—Buy £99 ss. NORTHERN EXCHANGES. (Pee United ■* Press Association.) following business was done on Changes yesterday:— Auckland.^—Sales; Commercial Bank of Aust., 16s; Bank of New Zealand, 535; Collieries, 40s; Auckland Gas. Z3s 4d; New Zealand Breweries, 42s 6d; New Zealand Farmers’ Fertilisers. 16a 4d; n J ; Byell, 19s 6d (two parcels). Wellington.—Sales reported: Lower Kutt Borough 6 per cent. (1944), £101; Bank of New Zealand; £2 12s; Auckland Gas Company. £1 3 S 4d. Af, 1 d tch -. u J ch oT^, ale 3: Commercial Bank 2d, 16s 3d, 15s Hd; Beath S? d: £ o .*|te P«dJ, 4B 6d;-British Tobacco, 31s 2d, Mount Lyell (cum div.); 19s 6d; Taranaki Oil, 2s; Mahakipawa, 84d. Sale reported: British Tobacco; 31s 3d.' • HAWKE’S BAY MEAT WORKS. (Pee United Press Association.) m, ■ HASTINGS, December 1. This ■ morning the meat exporters of ke ? gay announced a decline of the pr.ce on hooks at the local works as folw£wI L ? inb ’ In 011 ! 7 * d *» 6d; first-grade

LOCAL AND OVERSEAS MARKETS.

GRAIN AND PRODUCE REPORT. Messrs Donald Reid and Co., Ltd,, report ne under:— Oats.—Business, ns is usual at this time of the year, is anything but brisk. Merchants are slowly getting rid of their previous purchases, and are not interested in the incoming crops. There has been practically no forward buying so far, and this can also be said of all other kinds of produce with the exception of wheat, which, of course, has a fixed price and can safely be'negotiated with. The nominal value of oats to-day to farmers, on trucks at their railway stations, is; A grade Gartous, 3s; B grade, 2s lOd (sacks extra). .. Chaff.—There is ample at present held in store to cope with the local demand until after the holidays. All .storage) space is now required for wool, and merchants cannot reserve any space for chaff or other produce. Best oaten heaf is worth up to £5 10s, sacks extra, ex truck, Dunedin. Medium, from £4 10s to £5, sacks extra, ex store. Wheat.—The fowl wheat demand represents all the bulk of business passing. The quantity absorbed for the month is always fairly regular, and stocks are gradually becoming exhausted. There will be probably a shortage before the new season’s crop is available. The continual cold _ weather will be taking effect on all spring sown wheat, and a poor harvest will be the result if a turn for the better does not come very shortly, row! wheat is selling ex store at prices ranging from Ss 3d'to 6s 6d per bushel, sacks extra, ex store, Dunedin. ■ Potatoes.-—Odd trucks are still arriving and sales are now hard to effect. Only the best freshly picked lines are saleable, and sales are being made at £3 10s per ton, sacks in, ex truck, Dunedin, or ex store. ’ DAIRY PRODUCE. Messrs Dalgety and Company, Ltd.. ? a 7 e - received the following cablegram trom London, dated November 29: The demand, for butter is better. Quotations are unchanged. Messrs A. H. Turnbull and Co., Ltd., have received the following cablegram from 1 London, dated November 28 the qU ° tatioM ein 8. given in v ish ,’ “to t 0 132 s (138 sto Zealand- unsalted, 124 s to MI b t0 . 143 e); New Zealand salted, is Vwk! {l ° Bto 1O80) - The mark< * 7i?u e . e3a T' W 1 63s t 0 «6s (71s to Tlf tv, 59s to 63s (67s to 695) . 7fe te“ r 7Bs l nZ ea \' a ? adia “ w hite, Son;— 6 f ° llowing cablegram from laJj le e but j er -I?« arl£et is "weak. New Zea--1 cheese market is dull. New Zea land white, 62s to 645; Hew* Zealand coloured, 60s to 625. w Zealand

Scott ; Bros., produce merchants nmi Egg m, ClieM’ nt A age - n £ for uned in Ci ■ ?® rs Association, report:— to S i» re ol ep « S W ls ld : guaranteed. Is htllr -Qi l / 2d ' Dairy pat?, 9d; «^ik Per ™i£* i . H °uey: Bulk, 5d to ff d p , er lb V 10 i, b tlns > 5s 9d each; Sib p?r ’if Tat’ - ? 0 eeewax ‘ ls dd to Is 7d & e 5„; b ; f a t, 12s per cwt. Poultry: S o®’ ® s .^ d t° 43 per pair; ducks, 2s Od -hena fni 8 Kl* turkeys P;«f° S T>»- P tf r Ib ' gobblers Is per lb. Pigs. Prime baconers, 7Jd to 8d per lb* % lb kSLSS 15 A, t 9 £4 per ton. Onions: Aiwteahan New Gbbes, 14s 6d per cwt. Mr ff tnn ftln l oate ? sheaf, £0 to £6 5s P, er ton, eacks extra, ex store. Oaten straw chaff, £3 ■ 15s, ex • store Whole saSe M 6a 0d Per bushel sbcks extra. Partridge-peas, 6s 3d to fis ffl 'Fn 1 ÜB hel sacks extra. . Lucerne hay £6 iOs per ton. Clover and ryegrass hav’ l® P er t°\ ex store. AustrSlS barlly! Per 3d bush USb n’ . bags J n - Maize, 7s 3d UawSvD ' Oats; Gartona, 3s gdI^TH'S 4 * per hushel, sacks extra dressed wnaatau* straw f 3 no.? cratM :gT,t > chicken food, egg MINING, ELECTROLYTIC ZINC, me^ e of oll thr n #i H statetfrfos%s previous°W theses:—Zinc, 4171 tons 14210 & 22Lto d n B at 6 ,° to u s (60 tons ; (50,000 oz) (S ° tODS); ® lver ' 42,0000 z LONDON PRODUCE MARKET. Zealand has received J advice from its London office, under date November 28* Frozen Meat.— The market is weaker for light-weight wethers; heavy-weights 2S? tt dy - the steady, but not sufficient to stand nn increase in prices. The market for lambs k et d l nd un , chan « ed - The beef market is depressed owing to heavy stocks nL A [h S k tine ‘ iiffht Id to sjd P® r , lb '^ eav y 4jd to 5Jd per lb; ewes 3d to 4Jd per lb; lambs, two’s 8d to BSd per lb. eights 8d to gjd per fours to 7Jd per lb, seconds 74d to 73d sd * ‘WSIb.'S :° re , s :/ id to „ 4d per lb; COW hinds, 44d per n? Per b! C ° W fores ’ 3 * d to 3Jd LONDON MARKETS. (United Press Association.) (By Electric Telegraph—Copyright.) tt , , LONDON. November 29. Unsalted butters are reduced. New Zealand to 124 s and 130 s, and Australian to 114 s and 118 s. Meat.—New Zealand sheep— Canterbury and North Island selected crossbred wethers and maiden ewes 481 b %SV 53i’ »nS 481 b 4d, 481 b to 641 b 3}d; Argentine d * 651 bto 721 b 4id, over I 2 b 4 A d ,l ew Zealand lambs—Canterbury 43Jb to 501 b 7 6-Bd, other South Island brands 431 bto 501 b 7 5-Sd selected North Island brands (including B o wna) 361 b and under BJd, 371 b to 421 b B}d, 431 b to 501 b 7 5-Bd. New Zealand frozen beef—Ox hind<i 1601 b to 2201 b 5 1-Sd; Australian Sen uro P® under 4001 b 3 7-Bd, over 1001 b 4d, ox hinds under 1601 b 4 7-8 d over 'loolb 5 l-8d; Argentine chilled beef—ox fores 1601 bto 2201 b 51d, ox hinds 1601 b to 2201 b sfd. New Zealand pigs, first quality 601 b to 1101 b average 98d, 1111 b to 1201 b o}d, others are unchanged. Closing prices wore as follow: Cotton: December 5.58 d per lb. Rubber; Para OJd, plantation smoked 4 9-16 d. Jute; December-January £l6 ss, Hemp; None offering. Copra; December South Sea £ls 15s, plantation rabaul £ls 17s 6d. Linseed oil: £27 10s. Turpentine; 35s 6d.

Hides; Meatworks dry salted—Queensland 351 b to 451 b 6d, 301 b to 401 b Cd, 251 b to 351 b 5 7-Bd, 20 lb to 301 b 5 7-8 d; New South Wales, same weights GJ, 6Jd, 6 3 : Bd, 6Jd; wet salted—Queensland 501 b to 601 b 4 3-Bd, 401 b to 501 b 4*d; New South Wales 5 l-Bd, sd: Victorian abattoirs both 4Jd. ■ Osmiridium is lifeless. Tasmanian fls to £l7. South African, nominal £l2.

LOW PRICES FOR WOOL DUE TO WORLD-WIDE DEPRESSION, (Special to Daily Times.) „ AUCKLAND, December 1. Ihey paid too much.” This was the frank comment of Mr Otto Sommer, a well-known German wool buyer, who arrived by the Aorangi yesterday. He was speaking of the prices realised at the recent wool sales in Auckland and Wanganui. “It is the result of the world depression” he added. “We do not like to ee© these 10-tf prices any more than your growers do. We lost money last year, and nobody knows what will happen this year. “Has the manufacture of synthetic wool anything to do with the matter? ” he was asked. " Nothing at all,” he rcH is the world-wide slump, nothing else.” Mr Sommer left by car for Napier to bo present at the wool eal e there. SYDNEY 7,'00L SALES. (United Press Association.) (By Electric*' Telegraph—Copyright.) • j ®YDNEY, December 1. (Received Dec. I, at 10:30 p.m.) At the wool sales the offerings to-day ncre 10,716 bales, of which 9992 were dSosld ad f‘ tion . to , ? 75 of which were disposed of privately. Th e average J" Ce ™° ol test week was 8.3 d £®JL J £* The market to-day was 'ery firm, competition being strong on Japanese and Continental account wkf limited inquiry from the United States Greasy merino .made 21d.