COMMERCE AND FINANCE

Otago Daily Times, Issue 21241, 23 January 1931, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET. i DUNEDIN STOCK EXCHANGE. No business was recorded on the Dunedin Stock Exchange yesterday. New Zealand Breweries shares, which had already eased to what appeared to be bedrock, fell still further, the best offer being Sis 9d. Sellers were quoting 335. Preferred Commercial Banks were asked for at £5 ss, but no seller came into the market. For the first time this year, there was a buyer for National Insurances forward, the quotation being 13s. Sellers Trere asking Is more. Mount Lyells improved, a buyer offering 18s 9d, with a seller forward at 19s 3d. Okaritos were in demand at 5s Id, sellers demanding 5s fid. The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage:— BANKING. Bank bf New Zealand —Sel 48s. Commercial Bank —Buy 14s 3d, sel 14s xoa. ; t „ Commercial Bank (pref.)—Buy fo ss. National Bank of New Zealand—Buy 14 178. Union Bank —Sel £9., INSURANCE. National Insurance Co. —Buy 13s, sel Standard Insurance Co. —Buy 425, sel «Bs. SHIPPING. Union S.S. Co. (pref.)—Buy 19s 6d. COAL. Kaitangata—Buy 2s dis. LOAN AND AGENCY. “ National Mortgage—Sel 535. National Mortgage (B) —Sel 38s. MEAT PRESERVING. N.Z. Refrigerating (cont.) —Buy Is. MISCELLANEOUS. ', Auckland Amuse. Park (ord-)—"Sel Is. British Tobacco—Buy 28s, sel 295. Bruce Woollen Co. (ord.) —Buy 10s. Bruce Woollen Co. (pref.)—Buy 15s. Crystal Ice Co.—Buy 21s, D.I.C. (ord.)—Sel 20s 3d. D.X.C. (pref-)—Buy 20s, Kaiapoi Woollen (pref.)—Sel 15s. - MilbUrn Lime and Cement —Buy 275, ■cl 30s. , M'teod Bros.—Buy £l9. National Electric—Sel 13s 6d. i NZ. Drug Co.—Buy 50s, sel 525.. ’ N.Z. Express (pref.)—Buy 15s. N.Z. Paper Miffs (ord.) —Buy 17s 6d, ■cl 18s 9d. . Smith and Smith (pref.)—Sel 18s 6d. Wilsons (N.Z.) Cement—Sel 38s 3d. BREWERIES. N.Z. Breweries, Ltd.—Buy 31s 9d, sel 935. . v N.Z. Breweries Debent. —Buy 21s. Dunedin Brewery—Bujl 10s. •MINING. Kawarau G.M. Co.—Buy 3d. Waihi—Buy 15s 4d, sel 16s. Waihi Grand Junction—Buy 2s 2d, sel Ss 6d. Mount Lyell—Buy 18s 9d, sel 19s 3d. Mahakipawa—Buy Bd. ' • Kildare —Buy Bd, sel Is. Okatito—Buy 5s Id, sel §s sd. Paddy’s Point —Sel 3s 7d. Qplden Progress—Sel 10a 6d prem. Cornish Point—Buy 4d, sel 6d. WAR BONDS. 41 per cent. Bonds, 1938—Sel £9B. 4J per cent." Inscribed, 1938—Sel £97 fis. 41 per, cent. Inscribed,' 1939—5 el £97 fis. NORTHERN EXCHANGES. ■ (Per United Press Association.) The following business was done on yesterday:— - Auckland.—Sales: War Bonds (1933) fil per cent., £99 10s; Auckland Harbour Board (1941) 6 per cent., £102; Auckland City (1940) 5J pet cent., £96; Bank of New Zealand, 48s 6d, 48s 3d; Union Bank (late sale Wednesday); £8 2a .6d; Electrolytic Zinc Pref., 16s "6d. Christchurch.—Sales: Commercial Bank •f Australia (cum div.), 14« 7d, 14s 8d ’(three parcels); Goldsborough Mort., IGe lOd; New.. Zealand Breweries, 32_s 3d !(two parcels, 325/ 4d, 32g sd; British Tobacco, 28s sd; Mahakipawa, -Bd.—Sales reported: New Zealand Government 5i per cent. Bonds (1933), £99 10s; British Tobacco, 28e 7d, 28a sd. DAIRY PRODUCE. The New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cablegram from ita London house under date 21st instant:— Butter. I —New Zealand choicest salted, jiss to lies,: .. '■ Cheese. 55s to 565. Markets are steady. LONDON TALLOW MARKET. ■ Messrs Dalgety and Co., Ltd., advise having received the following cablegram from their head office, London, dated 21st inst.:— Prices for tallow are nominally unchanged. The next sale will take place on 4th prox. RABBIT SKIN SALES. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, January 21. At the rabbit skin sales-2250 bales were offered, and 740 were sold. Furriers’ best declined 5 to 10 per cent, compared with November, and medium 10, to 15 per cent. Hatters’, medium to good, were unwanted, and a few bales were Bold at a decline of 35 per cent., inferior 35 per. cent. AUSTRALIAN MARKETS. - (United Press Association.) (By Electric Telegraph—Copyright) SYDNEY, January 22. (Received Jan. 22, at 9 p.m.) Wheat has an easier tone. Ex trucks, Sydney, 2e 2d; country sidings. Is 7d. Flour, £B. Pollard, £4 ss. Bran. £3 15s. - Potatoes: Tasmanian, to £9; others, £7 JOs. .Onions: Globes, £B. Oats; White, 3s 6d; Algerian, 4s 3d. Maize, 4s 6d. ADELAIDE, January 22. Wheat, 2s Id to 2a 2d. Flour, £7 7s 6d. Pollard, £4 ss. Bran, £3 10s. Oats, Is 6d. HIKURANGI COAL COMPANY. UNFAVOURABLE REPORT, (Special to Daily Times.) AUCKLAND, January 22. In :their thirty-seventh annual report the directors of the Hikurangi Coal Company state.that they regret that they have ■gain to present.an unfavourable balance ■beet. When the mine was de-watered in January last, the coal output was resumed, and was continued until the end ®f' July, when a further inrush of water once more caused an entire cessation of work. A powerful nump was obtained from the Government, and the workings ■re now almost free of water. It is expected that coal will be again forthcoming about the end of January. To finance the heavy cost incurred in dewatering the mine, deepening No. 1 shaft, •nd providing larger water lodgement (in case of emergency) a loan from the Government has been arranged. _ The net loss |or the year was £4262, which brings the accumulated losses to £22,459. The chief items in the balance sheet are:— Liabilities: Paid capital, £70,000; debentures, £30,0'00; outside debentures, £l4 979. Assets; Mine property, £3303; plant and buildings, £57,832; shops and works, 131,021: -

LOCAL AND OVERSEAS MARKETS.

LONDON WOOL SALES. (United Press Association.) ißy Electric Telegraph—Copyright.) LONDON. January 21. At the wool sales 8447 bales were offered, including 1283 from New Zealand. About 5000 bales were sold. There was a splendid selection of greasy merinos, a small supply of scoured merinos and all New Zealand sorts. The opening prices were confirmed. There were large withdrawals owing to owners refusing to meet the market. New Zealand greasy crossbred, “ Ranui,” s|d and s|d, SYDNEY STOCK EXCHANGE. LIMITED OPERATIONS. • ■ (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY. January 22. (Received Jan. 22, at 9 p.m.) Stock Exchange investments were generally weaker and operations were extremely limited. Bank scrip was neglected and Government securties revealed an all round decline of a minor character.