With Investors On Change

Sun (Auckland), Volume 1, Issue 89, 6 July 1927, Page 2

With Investors On Change

THE WEEK REVIEWED | attraction of mining WEDNESDAY, 3 0 a.m. The purely speculative and gambling element has been the dominant factor on the ’Change during the week, and small parcels of mining scrip have proved the main attraction. On the Southern exchanges the more canny spirit has prevailed, and attention has principally been lirected to the better class of miscellaneous securities, and the banking, insurance, bonds and debenture sections. Kawaraus were in demand, but, as the days passed with no news either good or bad coming to hand from the riverbed, their market parity dwindled to see sales in the South at Is. Today the scrip commands little attention. Alburnias have been dealt with on a market ranging from 4s to 4s 3d, but the demand for these has now weakened and the market is easier. Moanataiaris, especially the contributing scrip, following the receipt of favourable news from the mine, registered a sharp advance during the week and featured on the ’Change during the last two days, rising from sales last week at 2s 7d to 3s 3d yesterday. N.Z. Breweries debentures cased sev- # eral points, and Christchurch yesterday put through sales at 23s and 23s 3d. The ordinary scrip are also weak. The market for most banking scrip remains practically unchanged; E.S. and A. attract a strong inquiry. Unions I register a weakening tendency. In the insurance section, N.Z.’s are easier. South British are strong of tone, with the market tending to Arm. Coals continue to attract steady buyers. with sellers for the most part holding off. Renowns have been freely dealt with at 6s. Both preference issues of Hikurangi continue to strengthen the market advancing several points during the week. Auckland Gas scrip continue in goo«tone. , _ Little movement has been recorded in the shipping section. Northern Steam, however, continue to firm. Timber shares remain depressed and weak, the strongest scrip appearing to be Leyland O'Brien with no sellers, and buyers firming at 345. In miscellaneous scrip, Taranaki Oils, Wilson’s Cement, and N.Z. Fertilisers are weaker. Good business continues to be done in Government and local body bonds and debentures, and this section appears the most attractive, and certainly the surest market lor a sara investment. HIDE AND SKIN SALE AUCKLAND VALUES Keen competition was registered at the hide and skin sale held yesterday afternoon. NO wool was offered. Prices ranged as follow: Cow hides, best, Sid to 8 5-8 d: second grade and cut, 7§d to S l-8d; medium. Sid to S3d; heavy, 9d to 9£d; second grade and cut, 7Jd to Sid; kip and runners, best Sid to 9id; second grade, 6JdI to 7id; yearlings, best butchers’, 9d to 9 .tv second grade, 7id to Sid; calfskins, best, light, 12!d to 13d; cut and meaty. 9d to 9!d; slippy and stale, 7d to <*d; bull hides, light, 42d to s*d; heavy, 4d to 41cl. Sheepskins, dried three-quarter to full wool, lid to lljd; medium to fine crossbred, llid to 12d; coarse and faulty, 10... cl to lid; damaged, 7d to 8d; half-wool, medium to fine crossbred, 9id to HMJ. faulty, 9d to lOd; damaged, 51 d to «d; salted sheepskins, extra large, Ss 9d to 9s 6d; large, 8s to 8s 4d: medium. <s 3d to 7s 7d; light, 5s 3d to 6s; damaged and faulty, relatively lower. . Tallow in barrels, good mixed, -as to 25s 6d a cwt; in shipping casks, 26s to -6s 6d; in tins, 245; second grade, 20s to -i» 6d; inferior, 16s to 18s. LONDON MARKETS FOREIGN EXCHANGES By Cable. —Press Association. —Copyright LONDON, Monday. The following rates on foreign exchanges are current to-day. as compared with the cabled quotations on June 30 and par: July 4. June 30 Par. Brussels, belga 39.94 34.95 35.00 Paris, fr - . 124.00 124.00 25.22.-* Stockholm, kr. 15. 13 18.12 18.159 Oslo, kr . . 18.79 18.79 18.15.* Copenhagen, kr 18.17 18.17 18.159 Berlin, r.m. 20.49 20.49 20.43_ Rome, lire . . 87.95 87.58 25.225 Calcutta, pence 17 7-8 17 29-32 24 Yokohama, pence 23 7-16 23 5-16 24J Hong Kong, pee. 24 2-8 241 Montreal, dol 4.86 5-16 4.86 3-16 4.566 New York, dol. 4.55 5-8 4.85 3-S 4.866 Amsterdam, fl. 12.11 7-8 12.12 1-8 12.10 Batavia, fl. .. 12.12 12.117-8 12.10 THE METAL MARKETS (Quotations on June 30 in parentheses.) Copper.—Spot, £53 10s 7id (£53 9s 4£d); three months, £54 0s 71d (£54 0s 7£d). Lead.—Spot, £24 3s 9d (£23 10s); three months, £23 11s 3d (£23 17s 6d). Spelter.—Spot, £27 16s 3d (£2B 2s 6d) ; three months, £27 13s 9d (£2B 2s 6d). Tin.—Spot, £295 5s (£3OO 2s 6d); three months, £282 17s 6d (£285 12s 6d). Silver.—Standard, 25 7-8 d (25 l-16d) per oz.; fine, 27 15-16 d (28 l-8d). WHEAT Wheat.—Cargoes show a better tone, but buyers are not responsive. Parcels are in stronger request, and have firmed 3d to 4id on a Winnipeg improvement Liverpool features: July, lls2Jd per cental; October, Us Id; December March, 10s 102 d. THE PRICE OF GOLD Gold is quoted to-day at 84s llld ner ounce. + BRADFORD TOPS The Bradford tops market is quiet and Arm. pending the opening- of the London wool sales to-morrow.—A. and N.Z.-Sun COMMONWEALTH LOAN ISSUE OF SEVEN MILLIONS By Cable.—Press Association Copyright LONDON, Tuesday. A Commonwealth loan of £7,000,000 has been underwritten. It will be in 5 per cent, stock, repayable in 1975, or on or after 1945 on three months’ notice. The stock will be issued at 98. The terms and the currency of the loan are exactly the same as those of the commonwealth conversion loan issued last April. The yield to the investor, including bonus on redempt'°,U,at, the later dat e, will be about 2s 3d per cent, —a. and N.Z.