COMMERCIAL

Southland Times, Issue 20526, 30 June 1928, Page 2

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S SALES AND QUOTATIONS. At a meeting of the Invercargill Stock Exchange yesterday morning, the following prices were quoted and sales reported:— Bank of Australasia, £l4 12/-. Commercial Bank, b 29/6; s 29/9. English, Scottish and Australian Bank, b £8 10/-; s £lB 12/6. National Bank of New Zealand, b £7 4/-. Bank of New South Wales, s £5O. Bank of New Zealand, b 59/-. Union Bank of Australia, b £l4 19/-; s £l5. Westport Coal Co., s 30/-. Huddart-Parker Shipping Line (ord.), b 48/-. Union Steam Ship Co. (pref.), b 20/3. National Insurance, b 15/9; s 16/-. New Zealand Insurance, b 42/-. South British Insurance, b 60/-. Standard Insurance, b 63/6. Dalgety and Co., b £l4 11/-. Goldsbrough, Mort and Co., b 48/-; s 49/3 (ex div.). National Mortgage and' Agency Co., Ltd., b 78/-. Wright, Stephenson and Co. (pref.), b 15/4; s 15/9. New Zealand Refrigerating Meat Co. (20/- paid), s 18/-. (20/- paid), b 18/-; s 18/6; (10/- paid), b 8/8; s 9/-. Southland Frozen Meat Co. (£1 ord.), b 33/3; (10/- ord.) b 16/6 ; (£1 pref.), b 33/3. Bruce Woollen Mills, b 12/3. Mosgiel Woollen Mills, b £6 15/-. Wellington Woollen Mills (ord.), b £6 5/-. Colonial Sugar Co., b £59 15/-. Dominion Rubber Co., s 32/6. Milburn Lime and Cement, s 32/9. New Zealand Drug, b 68/-. New Zealand Farmers’ Fertilizers, b 86/-. New Zealand Guarantee Corporation, s 9/-. New Zealand Milk Products, b 22/-; s 23/-. Wilson’s (N.Z.) Portland Cement, b 36/-. Dominion Investments, b 22/6. New Zealand Breweries, Ltd. (shares), b 40/9; s 41/3; (stock), b 22/3; s 22/9. War Bonds (1939), b £9B. Inscribed Stock (1938), b £9B. War Bonds (1938), b £9B. Inscribed Stock (1939), b £9B. War Bonds (1-939), b £9B. P.O. Inscribed Stock (1929), b £9B. Soldier Settlement Loan Bonds (1933), (54 per cent.), b £lOO 5/-. Sales were reported of National Bank of Australasia (cont.), at £9 1/-, and Inscribed Stock (1938), at £9B 2/6. THE SHAREMARKET, YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, June 29. Sales on ’Change: War Loan (1933) 51 per cent. £lOO 15/-; War Loan (1936), 54 per cent. £lOO 17/6; Inscribed Stock (1936), 54 per cent. £lOO 17/6; Auckland Gas 23/3; Lcyland-O’Brien Timber 32/9; Tooth’s Breweries 44/-; Fuller’s Pictures 21/-; Occidental Una United (cont.) 4d; Waihi 11/8. Wellington, June 29. Sale on ’Change: Bank of New Zealand 59/2. Sales reported: Bank of New South Wales £49 5/-; National Insurance 15/10; Taranaki Oil 1/3; 54 per cent. Bonds (1933) £lOO 15/-; Mount Lyell 32/10.

Christchurch, June 29. Sales on ’Change: New Zealand Government 4J per cent. Bonds (1939), £9B 2/4; Commercial Bank of Australia 29/7; National Bank of Australasia (£5 apid), £8 19/6 (2 parcels); Bank of New Zealand 59/1; Dunlop Rubber 25/4; Holdens Motors 32/4; Mahakipawa 4/- (19 parcels). Sales reported: Union Steam (pref.), 20/44; Taranaki Oil 1/4. DUNEDIN MARKETS. A QUIET TIME. Dunedin, June 29. Little interest is being displayed by millers in the wheat market, but on the other hand there are practically no offerings, the broken weather preventing threshing out of stack. Millers are fully stocked and as a matter of fact it is difficult to get them interested in wheat of any description. What sales have recently been made have been of exceptionally good quality only. There is no change in the quotations which still rule at 5/6 to 5/8 on trucks, country sidings, sacks extra for Tuscan and 5/10 to 6/- for Hunters. Velvet is very scarce and none of this variety has been offering for some time. Reports from Canterbury go to show that there is pressure on the part of holders to place fowl wheat. This market is weak with the current quotation standing at 5/7 f.o.b. Canterbury ports. The local market continues quiet with odd sales being made at 5/9, sacks extra, ex store. The demand is being supplied from wheat in stores, a fair quantity being held for this time of the year. Merchants have experienced a very quiet week in oats. Practically no inquiries have been received from any quarter. Sellers are still quoting 4/2 f.0.b., s.i., for A’s and 3/9 for B’s, and there appears to be full supplies available in stores at these figures. Offerings from growers are light and most of the lots appear to have been marketed. Odd lines coming in are worth 3/3 per bushel, sacks extra on trucks for A’s and 2/10 for B's. The weather conditions are holding up supplies of chaff but feeders are full stocked and there are also sufficient supplies in stores to meet any demand. The value of best quality chaff is £5 10/- per ton, sacks extra, ex truck. Medium and poor quality is in over supply, and it is quoted at £4 to £4 10/- per ton, sacks extra. The firming in the potato market that was experienced last week has not been maintained. Most of the merchants have secured their requirements for their June commitments and this has caused a weakness in the shipping market. Local merchants are now satisfied to buy in small lots only, and to wait till the weather conditions improve and enable Canterbury growers to dig. Current value in Dunedin are £6 per ton, sacks included, ex store. It is noticeable this season that good, sound lots of tubers are difficult to secure. Most of them are showing signs of fault, either from disease or from being dug when in a wet condition. Merchants are expecting a quiet time in all varieties of seeds as is usual at this time of the year. The market continues firm however with prices unchanged. CANTERBURY MARKETS. WHEAT UNCHANGED. Christchurch, June 29. The spirit in the potato market has ceased and values remain at recent reported levels. Some sales of July deliveries have been made at £6 5/-, f.0.b.5.i., but sellers generally are asking £6 7/6. August-September are quoted at £6 12/6. Values on trucks remain at £5 a ton. The Katoa, which sailed for Auckland in the mid-week, took 4,950 sacks, in addition to 2,700 from Timaru. The Waitomo is the next boat to leave on the 4th. Oats are “sticky” as far as export for Home is concerned, but there has been a minor development in other respects. A sale of B Gartons was made to Australia to-day on a basis of 3/9, f.0.b.5.i., the fiist of the white oats this season to the Commonwealth. There has also been a slight revival of export io Australia in Algerians which will be shipped by the Waikouaiti in a few days. The Australian business in Algerians has been done on a basis of 3/7, f.0.b.5.i., and 2/10 on trucks for good heavy sample. Wheat remains unchanged. There is so much wheat about of a secondary milling standard that most of the purchases are of this class. Good milling is unchanged at 5/8. White clover dressed is quoted at 140/- to 150/- a cwt., or 12d to 13d a lb. on trucks. Cowgrass is difficult of sale. Dressed is quoted at up to 112/- a cwt., or to 8.1 d. a lb. on trucks. Cocksfoot is quoted at 13d a lb for standard seed or Bd. on trucks. Perennial ryegrass is worth 5/6 to 5/9 a bushel, or 4/9 on trucks, and Italian up to 4/6 or 3/- on trucks. A jump has been recorded in the south for fescue. To-day it is worth 104 d. Stocks in the south are being rapidly absorbed for export to America. Onions are showing a further weakness, local holders now wanting to quit and prices easing to £9 a ton. FOREIGN EXCHANGE. (United Press Assn.—By Telegraph—Copyright.) London, June 28. The exchange rates on London are as follow: May 7. June 28. Paris, fr to £1 .. .. 124.02 124.05 Brussels, belgas to £1 .. 34.95 34.93 Oslo, kr to £1 18.23 18.22 Stockholm, kr to £1 . 18.20 18.18 Copenhagen, kr to £1 . 18.20 18.21 Berlin, rchmkn to £1 . 20.40 20.40 Montreal, dol. to £1 . 4.88 1-32 4.88 15-16 Yokohama, pence to yen 23 1-16 22J Hong Kong, pence to dol 24 5-32 24 13-16 Calcutta, pence to rupee 18 17J Batavia, gldr to £1 . 12.104 12.124 Rome, lire to £1 .. . > 92.63 92.71 Amsterdam, gldr to £1 12.90$ 12.10$ Prague, kr to £1 .. .. 164$ 1644 —Australian Press Association. METAL MARKET. (Rec. 8.55 p.m.) London, June 28. Copper: Spot £63 1/10; forward £63 3/9. Electrolytic: Spot £69 10/- forward £69. Wire Bars: £69. Lead: Spot £2O 17/6; forward £2O 18/9. Spelter: Spot £25 13/9; forward £25 8/9. Tin: Spot £213 17/6; forward £2lO 12/6. Silver: Standard 27 7-16 d; fine 29$d per ounce.—Australian Press Association. LONDON TALLOW SALES. Messrs Dalgety and Company, Limited, report having received the following advice from their head office, London, under date of the 27th instant:— At the tallow sales this week 522 casks were offered, of which 433 were sold. Mixed good 1/- higher, other descriptions unchanged. Fine mutton 42/6, fine beef 44/-, mixed good 41/-, inferior 37/-. LONDON MARKETS. Messrs Dalgety and Company, Limited, report having received the following advice from their head office, London, under date of the 28th instant:— DAIRY PRODUCE MARKET. Butter: Market quiet, we quote Danish 174/-, 176/-; New Zealand finest salted 174/- to 178/-; finest Australian salted 164/- to 168/-, unsalted 166/- to 170/-; general average quality Australian 156/to 160/-. Cheese: Market firm, we quote: Australian white 102/- to 104/-, coloured 102/to 104/-; New Zealand white 104/- to 106/-, coloured 104/- to 106/-; Canadian cheese, white 100/- to 102/-; c.i.f. 103/- to 104/-. FROZEN MEAT MARKET. Lamb and mutton market weak with downward tendency. Frozen beef market very firm. Woods’ Great Peppermint Cure For Influenza Colds.—Advt.