FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 417, 27 July 1928, Page 12

FINANCE & MARKETS

Fukemiro Coals Firm COMMERCIAL BANKS IMPROVE TRADING on "Change has been extremely limited over the past twenty-four hours. All business is being transacted outside the call room.

Banks, despite the fact that no business is recorded, are in good tone with a steady demand for all shares. Commercials have moved up to see business in the South at 30s 7t7 and in Auckland left the mid-day call with sellers at 30s 9d, supported by buyers at 30s 3d. In the loan and agency section the downward movement of Newton Kings has been steadied by the appearance of a buyer at 6s. Sellers dropped a further 6d this morning:. Pukcmiro coals are in particularly

I good tone and buyers’ offers were j lifted to 67s 6d a mid-day. i Industrials are quiet, with practic- • ally no movement in the market. Mining is dull and neglected. New Zealand Government bonds and stocks are in good demand, with sellers hard to locate on present levels. Business yesterday afternoon; Reported—Lewis Eady, Ltd., 235; New Zealand Inscribed Stock, 1936, 5£ per cent., £lOl. Business at this morning’s early call: Reported—New Zealand Insurance, 42s i 6di Business at mid-day—Reported—Mt J Lycll, 35s 9d.

to-days quotations

Closing quotations at to-day 10 o’clo ck call wore:

SOUTHERN EXCHANGES i YESTERDAY’S SALES i*re«s Association. Christchurch.—Bank of Australasia, ~14 16s 6d; Commercial Bank of Aus--11 alia, 30s 7d (three); Union Bank of Australia, £ls 4s; Standard Insurance, »As 6d; Kaiapoi Woollen (7s paid), 2s Id; Electrolytic Zinc (pref., cum div.), 33s Tel: Mahakipawa, 3s 3d (five); South British Insurance, 60s 3d; Christchurch Gas (10s paid), 12s. Dunedin.—Bank of Australasia, £l4 17s; Dalgety and Co.. £l4 15s; National Insurance, 16s. CALCUTTA TEA SALES (United /M. —By Telegraph — Copyright) (Australian and 2J.Z. Press Association.) (United Service) CALCUTTA, Thursday. At the Calcutta tea sales yesterday, -4.400 packages were offered, including 4,100 dusts. There was again a useful selection from all districts, some Cahcars and Sylhets showing improvement in the « up. There was a strong tone for all descriptions, bidding being well distributed. Inquiry was particularly strong for good liquoring teas. Average prices were 12 annas S pies a lb, compared with 15 annas 9 pies at the corresponding sales last year, and 13 annas 3 1 pies in 1926. Special prices were:—Broken Orange I’ckoe: Common, 14 annas; medium, 15 Brood, 19 annas. Broken Pekoe: Common, io annas 6 pies: medium. 11 .Minas 6 pics. Good: 15 annas 6 pies. Cannings: Common, 10 annas 6 pies* medium. 12 annas: good. IS annas.

DAIRYING PROSPECTS FORWARD BUYERS ACTIVE BOARD CHAIRMAN OPTIMISTIC (From Our Resident Reporter.) WELLINGTON, Thursday. •'Market prospects for both butter and cheese are particularly bright,” states the monthly review of the newly-elected chairman of the New Zealand Dairy Producers’ Board. Since the beginning of 1924 only once have cheese prices reached their present figure and that was for a short period in 1925. when prices touched 120 s. with practically no cheese on the market. There is every indication that cheese prices will be firm for some time to come, says Mr. lorns. During the last three years the importations of cheese into Great Britain have shown a gradual decline. This decline is the result of a decreasing export from Canada. “The most difficult problem the directors of dairy companies have to deal with at the present time is the disposal of the seasons’ outputs,” continues the review. “Buyers are offering 91d a lb. f.0.b., for cheese to the end of December and at least one firm has been offering 9Jd to the end of the season. These prices are good, but in response to various inquiries from dairy companies our reply lias invariably been ‘do not sell.’ The cheese position is strong and likely to improve. “Already purchases of butter have been made for shipment to Eastern Canada during October, November and December, and in at. least one case including February prices have been paid averaging Is sld to Is 53d. f.ob.. New Zealand ports, for shorter periods, and Is 5d to the end of February. The improvement in the economic situation in nearly all countries is having a hardening effect on prices. AUSTRALIAN PRODUCE (United P A.—By Telegraph — Copyright) SYDNEY, Thursday. The following are to-day's quotations on the Sydney produce market: Wheat.—Growers’ bagged lots, at country stations, 4s 6?.d; ex truck, at Sydney, 5s 2d. Flour.—Export trade lifeless. Bocal. £ 13. Bran.— £6 10s. Pollard.— £7 10s. Oats.—Tasmanian. Algerian, 4s 9d to 4s lOd; white. 4s 6d to 4s lOd. Maize.—Yellow, 3s 9d: white, 4s 4d. Potatoes. —Tasmanian, £5 to £7 10s. Onions. —Victorian, £l4. Adelaide prices are:— Wheat.—Growers’ lots. 5s Id to 5s ltd. Flour.—Bakers’ lots, £l3. Bran. — £ 5 17s 6d. Pollard.— £7 2s 6d. Oats.—3s 3d. CHICAGO WHEAT MARKET (United P.A. — By Telegraph — Copyright) (Australian and N.Z. Press Association.) Rpcd. 9.5 a.m. CHICAGO, Thursday. Wheat.—July. 1 dollar 21 £ cents a bushel; September, 1 dollar 24 cents; December, 1 dollar 21 1-8 cent*.

Sellers. Buyers. a a. d. £ s. d. BANKS— Bank of Australasia 14 18 0 14 15 0 Aust. Bank of Com. 1 14 Com. of Aus 1 1ft 1 10 Ditto (con.) .. .. 19 Ditto (pref.) 7 G Brig., Scot & Aust. 8 12 .National of N.Z. . . ft 1 6 Nat. of Aus IS ft Ditto (con.) .. .. !) 6 9 ft New South Wales . 50 1ft New Zealand 3 0 0 19 9 Ditto. D Mort. (20s paid) 1 ft 4 Anion of Australia . 15 6 0 15 2 G INSURANCE— National 0 Ifi 2 ft 15 1ft New Zealand . . ft South British . . 3 1 0 3 0 0 LOAN AND AGENCY— Abraham and Williams (pref. > 4 6 Farmers’ Co-op Auctioneering B pref) ft 15 Goldsbrough, Mort . Jft Nat. Mort. .fc Ag.. . 1!) Newton King (pref) 0 S ft 0 N.Z. A- River Plate 13 N.Z. Guar. Corp. (ord.) 0 8 8 N.Z. Loan & Merc. — 1 Oft Ditto (pref.) .. .. — 82 0 0 ft >A I - — Hikurangi 0 ft 3 0 10 Ditto (pref.) .. .. 9 3 i >i t to (A pref.) . . 0 1ft 0 ft 8 6 Pukerimo G Renown (con.) .. .. 0 12 ft '1 aupiri 1 ft 6 Ditto (pref.) .. .. 1 3 0 W aipa 0 14 9 \\ estport-Stockton . 0 1ft 0 3 7 Ditto (pref.) .. .. — ft 3 10 GAS— Auckland 1 r. :» 1 n 1 Ditto (con.) .. .. 0 17 4 0 17 0 SHIPPING— Devonport Steam .. 1 4 ft 1 3 0 I i uddart-Parker ;> Ditto (pref. > . . .. — 1 ft Northern Steam 0 14 i> Ditto (con.) . . . . 0 0 I ’. ami « *. (def st k ) 2 39 u Union Steam (pref.) — 1 0 0 Vl.MBERKiiuri Timber .. .. ft 19 G ft 18 1ft Leyland-O’Brien 1 13 0 1 1ft 0 Parker-Lamb 1 0 G — WOOLLEN— Kaiapoi 0 1 1 3 0 1ft ft Wellington G 6 0 Ditto (pref.) .. .. — 6 8 6 BREWERIES— C. L. Innes 0 lf» ft Ditto (pref.) .. .. ft 17 0 N.Z. Breweries .. .. 5 ft J. Staples and Co... 1 17 3 MISCELLANEOUS— A uck. Amuse Park ft 7 ft British Tobacco (i 2 ft Burns. Philp and Co. By croft. Ltd 1 10 6 Dental and Medical 0 14 6 —

Selle •s. E uy •rs Electrolytic Zinc <ord.) Ditto (pref.) .. .. — 13 0 Hamilton Theatres 0 1" Henry Jones .. .. 16 3 Hill and Plummer H.M. Arcade (pref) N.Z DrugLewis Eady, Ltd. — 3 8 (ord.) Milne and Choyce .. 1 _2 0 1 0 Ditto (pref. ) . . .. Ditto (B pref.) . Ditto (deb stock) National Pictures . . 0 Farmers’ Fertiliser 0 N.Z. Paper Mills . . Morris Hedstrom . . N.Z. Itefrig-. (pd.) Ditto (con.) .. .. 0 Sanford, Ltd 0 19 Ditto (pref.) . . .. Sharland and Co. .. Taranaki Oilfields .. 0 10 0 0 0 Thames Theatre .. 1 Tonson Oarlick Union Oil — Vic. Nyanza Sugar 4 5 0 4 Wilsons Cement .. 1 IS 6 1 IS MINING— Moanataiari (paid) . 0 •> 0 Ditto (con.) . . . . 0 6 Golden Age (paid). New Waiotahi (4s 0 0 3 0 0 1 paid) 0 0 4 Ditto (con. ) .. . . 0 6 Occidental U n a (con.) 0 0 6 Ohinemuri (ord.) .. 0 0 6 Waihi Grand June. 1 0 1 Waihi Grand June. 0 A USTRALTAN— Mount Lyell .. .. 1 16 0 1 15 6 DEBENTURES— Auckland Gas. 1932, Ditto. 1935. 61 .. 103 0 0 102 City of Auckland, 1940, p.c. 96 Ditto, 1943, 5J p.c. Borough of Devon- — 99 5 0 port. 6 p.c Borough of Mt. Ede 100 0 0 F>} p.c 300 0 Ditto, 6 p.c Borough of Hamilton. 6 p.c Hamilton Theatres — 100 0 0 7 p.c 105 0 0 Ditto. 8 p.c 1 *6 0 0 N.Z. Breweries.. .. 1 4 0 1 9 Glaxo 95 0 0 90 0 0 GOVERNMENT BONDfc War Loan, 1930, 4J — 9S 10 0 Ditto. 1938, 4£ p.c. — 98 12 6 Ditto, 1939, 4£ p.c. 98 12 6 Ditto. 1941, 4i p.c. 98 7 6 Ditto 1933, 5:’. p.c. — 100 15 0 Ditto, 1936, 5i p.c. — 100 15 0 Ditto, 1933, 51 p.c. 100 0 0 90 0 0 INSCRIBED STOCKWar Loan, 1938, 41 Ditto, 1939, 41 p.c. 98 12 6 Ditto, 1927-41, 54 Ditto, 1933, 51 p.c. 100 15 0 Ditto. 1936, 51 p.c. 100 15 0 Ditto, 1933, 54 p.c. 100 10 0 99 0 0