COMMERCE AND FINANCE

Otago Daily Times, Issue 21382, 9 July 1931, Page 14

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE There was a sale of Union Banks on the Dunedin Stock Exchange yesterday at £7 10s. The shares were later on offer at £7 11s, but no buyer came forward. Okaritos exhibited some tendency to ease and sales took place at 11s Id and Us. The closing offer was 10s lid, sellers then demanding 11s 2d. King Solomons were a little firmer, a sale being reported at 2s Sid, and further transactions taking place on ’Change at 2s 9d and 2s Old. The close of the market found offers of 2s 9d being made for these shares, sellers demanding Id more. The demand was easier in ail sections. Sales: Union Bank, £7 10s; Okarito, 11s Id, 11s; King Solomon, 2s 9d, 2s Old (two). Sale reported: King Solomon, 2s 81d. The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage;— BANKING. ' Bank of N.S. Wales—Sel £2.1. Bank of New Zealand—Buy 48s 6d, sel ,40s. 3d. Commercial Bank—Buy 14s Od, sel 15s Id. ” E.S. and A. Bank —Sel £4 7s. National Bank of New Zealand —Buy £4 10s. sel £5. , Union Bank —Sel £7 11s. INSURANCE. ' National Insurance Co. —Buy 12s lOd. sel T3s 3d. N.Z. Insurance Co.—Buy 40s 6d. sel 43-s. Standard Insurance Co. —Sel 47s Gd, SHIPPING. Howard Smith—Sel 7s. Iluddart, Parker (pref.)—Sel 19s. U.S.S. Co. (pref.)—Buy 19s Gd. COAL. Kaitangata—Sol Is Gd dis. Westport Coal Co.—Sel 245. LOAN AND AGENCY. Dalgety and Co.—Buy £6 Bs, sel £G 14s. Goldsbrough, Mort—Buy 20s, sel 21s. National Mortgage—Sol 50s. National Mortgage (“B” issue) —Sel 295. N.Z. Guarantee Corp.—Buy ss, sel Gs. MEAT PRESERVING. Canterbury Meat (ord.) —Sel 50s. N.Z. Refrigerating (cont.) —Buy 3s 4d, sel 3s Gd. MISCELLANEOUS. D.I.C. (pref.)—Buy 19s Gd. Milburn Lime and Cement —Sel 30s Gd. National Electric—Sel 10s. N.Z. Drug Co.—Buy 50s. N.Z. Milk Products (debs.)— Buy 20s. N.Z. Paper Mills (ord.) —Buy 17s 6d. Otago Daily Times—Sel 51s. Regent Theatre—Sel 19s. Woolworths—Buy 225. GAS. Christchurch —Buy 255. BREWERIES. N.Z. Breweries, Ltd. —Buy 33s 9d, sel 34s 9d, N.Z. Breweries ,Debs— Buy 21s. Dunedin Brewery—Sel 17s Od. MINING. Waihi—Buy 15s Bd. Waihi Grand Junction —Buy 3s. Mount Lyell—Buy 18s 6d, sel 18s lid. Kildare—Buy Bd, sel lid. Okarito—Buy 10s lid, sel 11s 2d. Paddy’s Point—Buy 3s, sel 3s Gd. Cornish Point (pd.)—Buy 7d, sel 9d. Golden Progress—Sel 30s. King Solomon —Buy 2s 9d, sel 2s lOd. Golden Point—Sel is lOd.

WAR BONDS. 4J per cent. Bonds, 1938 —Sel £9B 10s. 41 per cent. Bonds, 1941—Buy £9B. 41 per cent. Inscribed, 1938 —Sel £9B ss, 41 per cent, Inscribed, 1939 —Sel.£9B ss. 5| per cent. Inscribed Bonds, 1941 —Buy £95, sel £O7 ss, 5.} per cent. Inscribed, 1933—5 el £9B se. OTHER EXCHANGES,, (Peg United Press Association.) The following business wag done on ’Changes yesterday:— Auckland.—Sales: War Bonds (late sale Tuesday),. 1938, 4J per cent., £9B; Inscribed Stock (1938), 4J per cent., £9B; Bank of Australasia, £9 12s; Union Bank, £7 10s (two parcels); Auckland Gae, 23s 3d; New Zealand Breweries, 34s 9d; Colonial Sugar, £35 ss; Farmers’ Trading, 5s 6d; King Solomon, 2s 9d. Wellington.—Sales reported: Bank, of Australasia, £9 15s; Commercial Bank of Australia (ord.), 14s lie; Bank of New Zealand (three sales), £2 8s Od; New Zealand Breweries (two sales), £1 15s; Staples and Co., £1 12s 9d; Okarito Gold Mining, lls (id; New Zealand Government 54 per cent. Stock (1936), £99 sb. Christchurch. —Sales: Union Bank of Australia, £7 10s, £7 8s sd, £7 8e; New Zealand Insurance (cum div.), 425; Golds-br-ough, Mort, 20s 7d; New Zealand Breweries, 34s lid; Cornish Point, IOJd, lid; King Solomon, 2s 9d (sis parcels), 2s BJd, 2s 8d (three parcels); Mahakipawa, (Ud (two parcels); Okarito, 11s 2d (three parcels), 11s; Golden Point (Is paid), Is 9Jd (two parcels), Is 9d, le BJd; Golden Point (104 d paid), le Sales reported: New Zealand Government 34 per cent. Inscribed (1931), £99; Commercial Bank of Aust., 15s; Bank of New Zealand, 48s 9d; Union Bank, £7 12s. Invercargill.—Sales reported: Commercial Bank, 15s (two parcels); King Solomon, 2s 8d (two parcels). LONDON FRUIT MARKET The secretary of the Otago Provincial Fruitgrowers’ Council advises that the High Commiesioner’s cabled report for the week ended July 4 on the London fruit market is as follows:—Apples: Supplies very plentiful, and trade very slow. Soft fruits dominate market. Port Nicholson and Port Hobart, condition good Sturmer, 10s to Us; Jonathan, Delicious, Statesman, Rome Beauty, and Dougherty, 11s to 13s; Granny Smith. 14s to 15s. Pears: Winter Nelis (trays), 3s 6d to 4s Cd. FOREIGN EXCHANGES. (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) BUGGY. July 7. Par. July 2. July 7. Paris, fr to £1 .. .. 124.21 121.24(4 124.18(4 Brussels, belgas to £1 .'ls 84.00(4 84.811 Oslo, kr to £1 .. .. 18,150 18.8(4 18.1(1(4 Stockholm. kr to £1 .. 18.150 48.13% 18.14(4 Copenhagen, kr to £1 18.150 18.10(4 18.10(4 Berlin, marks to £1 .. 20.43 20,5 20.61 Montreal, dol to £1 .. 4.8 G 2-3 4.88 3-10 4.88 7-32 New York, dol to £1 4.80 2-3 4.80 13-32 4.80 21-32 Yokohama, ponce to yon 24.58 24% 24 5-10 Hongkong, pence to dol 25.15 12% 12% Bombay, pence to rupee 18 17% 17% Batavia, florins to £1 12.107 —. 12.00(4 Milan, lire to £1 ... . 02.45 03.00(4 02.03(4, Amsterdam, guild to £1 12.107 12.60(4 12.08% Prague hr to £1 .. ... 24.02 ■10414 104(4 Genova, kr to £1 .. .. 25.22(4 25.11(4 25.10(4 Vienna, schillings to £1 24.50(4 34.00(4 34.32(4 Helsingfors, marks to £1 193.334 103(4 193(4 Madrid, pesetas to £1 25.22(4 60.45 51.1 Athens, drachma to £1 25,22(4 375 373 Lisbon, escudos to £1 4.50(4 110% 110% Bucharest, lei to £1 .. 073 sl7 Sl7 Ulo do Janeiro, pence • to mllrels ~ •• .. 18 3 13-10 3% Buenos Aires, pence to pesos 47.82 35% 35%. Shanghai, pence to tael 23% UNION BANK’S DIVIDEND (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, July 7. The Union Bank of Australia’s final dividend is 4d, lax free. _ It will be paid in London at sterling and in Australia and Now Zealand at the rate of exchange for demand drafts on Loudon on July 31.

LOCAL AND OVERSEAS MARKETS.

ADDINGTON STOCK SALE (Pica Umticii Press association.) CHRISTCHURCH, July 8. Entries in all sections of the weekly market at Addington to-day were smaller than for many months. A feature was the general improvement in values in all the major sections. Store Sheep.—There was a very small, nondescript entry. Competition was very dull, and there were many passings. Values were; Good six and eight-tooth halfbred wethers, to 13s; plain halfbred, to 7s 10d; medium s.m. halfbred ewes, 12s 9d to 13s 3d; medium s.m. crossbred, to 12s Gd; aged and inferior, 3s to 6s; good ewe lambs, to 15s; ordinary ewe lambs, 9s to 1 Is; backward ewe lambs, 5s to Gs; plain and small wether lambs, 5a to 7s. Fat Lambs. —There was an entry of 350 head. The export season closed last week, and the sale was merely for “clearing up ” purposes. There was exceptionally keen competition, and a sharp rise took place in values of Is Gd per head for all classes. Values were: Extra prime lambs, to 23s lOd; prime, 19s to 21s Od; medium, 10s Gd to 18s Gd; light, 13s to 16s; store, 10s to 12s 6d. Fat Sheep.—The entry totalled 2800 head, the smallest for a very long period. Heavy butchers’ ewes and wethers advanced as much as 4s per head. The average advance for all classes throughout the sale wa« 2s Gd per head. Values were: Extra prime heavy wethers, to 23s 10c!; prime heavy, 18s Gd to 21s; medium, 14fi Gd to 17s Gd; light, 10s Od to 14s; extra prime owes, to 20s 4cl; prime, 14s Gd to 17s; medium, 10s Gd to 14s; light, 8s to 10s; aged. 0s to 7s Gd. Fat Cattle. —The entry totalled 209 head, including a well-finished lino of 48 steers from the North Island. They averaged £l4 4s 9d per head. The short- 1 ness of the entry resulted in a rise in values of £1 to £1 10s per head. Best quality beef made 26s to 30s per 1001 b; good prime beef, 22s to 255; secondary beef, to 21s; and rough down to 13s. Values wove: Extra prime heavy steers, to £ls ]7s Gd; prime heavy, £lO to £l3; prime medium-weight, £7 ]os to £9; ordinary quality, £6 to £7 as; light, to £5 10s; extra prime heifers, to £9 17s Gd; prime, £7 to £8 10s; medium, £4 10s to £6 10s; light, to £4; extra prime cows, to £l2 12e Gd; prime, £6 to £8; medium. £4 to £5 10s; light, to £3 10s, Fat, Pigs.—There was a email entry, and a better demand throughout. Values were: Choppers, £3 to £4 17s Gd; baconers, 47s 6d to 52s Od; heavy baconers, 56s to £3 4s; extra heavy baconers, to £3 18s Gd; average price per pound,. 5d to 54d; porkers, 33s to 37s Gd ; heavy porkere, 38s Gd to 45s Gd; average price per pound, s.}d to 64d. DAIRY PRODUCE LATEST GRADING RETURNS. (Per United press Association.> WELLINGTON. July 8. The dairy division grading figures for the II months ended June 30 show an increase for butter of 1.40 per cent, at 95,922 tons (04,590 tons), and a cheese increase of 2.41 per cent, at 88,840 tons (86.662 tons), as compared with the quantities for the corresponding period of the preceding season, for which the quantities arc shown in parentheses. Reduced to terms of their butter-fat equivalent, there is an increase in production of 2.51 per cent, for the 11 months of this season, as compared with 1929-30. The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produce Association, Ltd., London:— , Butter: Firm: 112 s to 114 s; Danish, 118 s to 120 s. Cheese. —Firm; white. 58s to o”s; coloured. 00s to 61s. Messrs Dalgety and Co., Ltd., have received the following cablegram from London, dated July 7.—“ The actual selling price to-day of New Zealand cheese is: Coloured Ois, white 595. Sellers are asking Is per cw.t more.” A PRODUCTIVE AREA {Per United Press Association.) THAMES, July 8. Figures are available .for the supply of butter-fat from Two Mile Stretch road, known as Piako road, on the Hauraki Plains, for the vear ended June 30, which is claimed to be the richest producing area in New Zealand, and, therefore, in the whole world. The road has frontages to 15 farms varying from 290 acres to 50 acres, which produced 361,1511 bot butter-fat. which at Is per l.b equals £18,057. The total acreage is 2296. thus averaging 1571 b of butter-fat, or £7 17s per acre. The previous season did not produce quite so much, but the price was much higher. ■