COMMERCIAL

Poverty Bay Herald, Volume LXIV, Issue 19372, 9 July 1937, Page 11

COMMERCIAL

BUOYANCY MAINTAINED SYDNEY STOCK EXCHANGE SYDNEY, July 3. The buoyancy of the share market recorded yesterday was well maintained on the Sydney Stock Exchange to-day. The upward tendency of prices again covered a wide array of prominent industrial stocks. New Zealand buying orders were conspicuous among the heavv dealings. Sales: Bank of New South Wales, £35 15s: Commercial Banking, Sydney, £22 Is; Colonial Sugar, New Zealand delivery, £4B ss; United Insurance, £lO 14s; Associated News, 235; do., prcf., 23s 7|d; Huddart, Parker, 38s 9d; Australian Gas, B, £7 lis (id; Tooth's, 55s 9d; Tooheys, 33s 3d: G. J. Coles, £5 Gs 6d; Australian Iron and Steel, pref., 27s (id; Australian Glass, 93s 3d; Dunlop-Perdriau, New Zealand delivery, 22s lOJd: do., pref., 36s 9d; Winchcombe Carson, rights, lis 9d: Wilcox, MofTlin, 14s; Electrolytic Zinc, 58s: do.. New Zealand delivery, 57s 9d; Taubmann's, 70s; Newbold, 375; C. Neon, 53s (id; Broomfield's, 9s lOd; Hackshall's, 15s; Sargents, 345; Felt and Textiles, 38s 3d; Permcwan, Wright, 355; Mcggilts, 335; J. Fielding, 82s; Waldas, 18s: J. McGrath, 37s <sd; Morris Hedstrom, 30s Ud; Woolworlhs, ord., buyer £7, seller £7 0s Gd; Woolworths, new, paid, £0 19s, £C 19s 9d: Woolworths, New Zealand, £5 2s Gd, £5 ss; Selfridges, New Zealand, seller, £7; Mount Morgan, 12s (id: ■ Mount Lyell, 435; Rawang, 12s 9d; do., New Zealand delivery, 12s 8d; Placer Development, 80s: Emperor, 14s; North Broken Hill, 75s Gd: Taranaki Oil, 4s 9d.

The Melbourne Stock Exchange market was generally a shade easier to-day, the turnover being fairly light. Sales: Commercial Bank of Australia, 19s 2d; National Bank, £lO paid, £ls '2s; Howard Smith, 22s 6d; Huddart, Parker, 38s Gd; G. J. Coles, £5 7s; Drug Houses, 2Gs Gd; Dunlop Perdriau, 22s lid; Goldsbrough, Mort, 35s Gd; Electrolvtic Zinc, 58s; do., pref., 595; Yarra Falls, 39s Gd; Silverton Trams, : 36s 9d; Mount Morgan, 12s 7d; Mount 1 Lyell, 42s 9d; Sulphide Corporation, I 15s sd; Broken Hill Proprietary, 83s !>d; North Broken Hill, 75s 3d; South I Broken Hill, 49s Gd; Emperor, 14s; I Loloma, 18s lid.

| RESERVE BANK RETURN i I DECLINE IN STERLING i (Per Press Association.) WELLINGTON, last night. The Gazette issued to-night contains the following statement of the assets and liabilities of the Reserve Bank as at the close of business on July 5, compared with June 28: — Liabilities. June 28 July 5 £ £

Total .. £32,399,066 £30,630,203 Assets.

Total .. £32,399,060 £30,030,203 Proportion of reserve to notes and other demand liabilities, 77.032 per cent. (79.012 last week.). WAIKATO STOCK VALUES FIRM MARKETS PREVAIL Firmness in the Waikato stock market continues, and everything seeking realisation finds competitors in readiness. The fat stock branches are fairly well suoolied and in beef at any rate the tendency is upward. Mutton is no more than holding its own and at the central yards this week failed to do that. Chilled beef is offering in fair quantity and is being moved .airly fast. Some excellent lines are being handled. . . Store cattle.--A wider interest m I this section was aroused by an entry I of station cows in calf, ex Poverty , Bay, at the Morrinsville yards, last , Friday. Evidence of the long journey

was plainly visible, but however much it may have detracted from thenvalue since the commencement of the trip it did not rob them of the competition due at the conclusion. An average of about £0 15s clearly indicates this. For local offerings in this section values are rising, empty heifers especially making a rapid advance. Young cows are wanted but are hard to buy in any quantity. Store sheep.—Fair supplies are coming forward and generally meeting with fair competition, although thereis not the same eagerness as applies to cattle. The inquiry for ewes in lamb is not extensive and enthusiasm is often difficult to arouse. White-face hoggets are in good demand when available. Ewes at Morrinsville made from 35s to 38s with wethers from 21s to 235; forward black-face lambs are worth from 15s to 19s; small, from 10s to 13s Gd.

STORE PIGS IN DEMAND SALE AT WHAKATANE At the pig sale at Edgecumbc, despite the small number yarded, comprising stores only, there was strong competition for good quality pigs m this class, which is apparently in short supply at the present time. forward stores made from 30s to £2 9s; medium, 30s to 325; slips. 15s to 235.

Cenei al Reserve 1,500,000 1,500,000 Bank Notes 12,030,838 12,690,153 Demand liabilities — (a) State 7,301,047 5,972,845 (b) Banks .. 9,824,089 9,304,087 (c) Other 994,984 1,071,343 Other liabilities. 88,108 85,175 | 1

Reserves — la) Gold .. 2,801,791 2,801,791 (b) Sterl, ex. 21,542,637 19,746,703 Subsidiary coin . 337,272 115,127 Advances to State — la) Dairy industry account .. 4.754,992 4,785,986 fb) Ot. purp'es 200,000 200,000 Investments .. 2,906,450 2,906,450 Other assets .. '75,924 74,146