FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 507, 9 November 1928, Page 12

FINANCE & MARKETS

Trading Over Wide Range

Kauri Timber Dividend

By

“NOON CALL”

A HEAVY volume of business continues to be put through on ’Change. Trading is spread over a fairly wide range.

BANKING and insurance shares are very firm, although during the past 24 hours only a limited amount of business has been put through in cither section. A seller of New Zealand Insurances came in at mid-day at 48s to find very firm support at 475. Nationals were dealt with during the morning at 17s. The miscellaneous group remains quiet with the market showing little movement. Australian Iron and Steel prefs were sought at 20s ex div. Colonial Sugars, ex div, are offered at £62 10s. Milne and Choyce scrip is in high favour, buyers for the preference shares advancing a further 3d without drawing a declaration from sellers. The timber group saw the first sale since the second week in October, when Kauris were dealt with at 19s. The same scrip was reported at 19s 2d this morning. This price is slightly above the ideas of value held across the Tasman, where at the time of the latest mail sellers at 19s £ould only receive support from buyers at 17s fid on the Melbourne market. The head office advises the payment of a dividend at the rate of 3 per cent, for the year ended August 31, 1928.

In the mining group, Waihis hold their recent strength. Mount Lyells are very firm. A cable from across the Tasman received this morning announces that the directorate of this concern has declared a dividend of Is a share and a bonus of 6d out of profits for tho year ended September 30. The bonus of 6d brings the total dividend rate for the year 3d in advance of that paid out over the previous three years. Business yesterday afternoon: —On ’Change: Bank of New Zealand, D Mortgage, 28s 3d; Auckland Gas, 23s Id; Wilsons Cement, 40s. Reported; Bank of New Zealand, £3 Is 6d; South British Insurance, 63s 9d. Business at this morning’s early call: —On ’Change: Auckland Gas (ord.), 23s Id; ditto (con.), I7s 3d. Reported: Bank of New Zealand, D Mortgage, 28s 3d; Kauri Timber, 19s 2d; Borough of Mt. Eden, 5? per cent, debentures, £lOl 15s. Business at mid-day:—On ’Change: Waihi Mining. 13s 8d (two parcels). Reported: National Insurance, 17s.

TO-DAY'S QUOTATIONS

Closing quotations at to-day's midday call were:—

SOUTHERN EXCHANGES

YESTERDAY’S SALES I Press Association Wellington. —Bank of New Zealand. 6Ls fid; Union Bank, £ls 7s 6d; Waihi, 13s 7d. 13s 9d. Christchurch. —New Zealand Government, 4a per cent., Inscribed Stock, 1938, £99 10s; New Zealand Breweries, bonds, 24s 8d; National Bank of Australasia (£lO paid, cum div.), £l9 5s fid; Union Bank of Australia, £ls 7s 6d; Goldsbrough, Mort, 51s 6d; Kaiapoi Woollen (17s paid), 14s; New Zealand Breweries. Bos 4d, 55s fid; Tooths Brewery, 48s 9d (two parcels); Mahakipawa, Is 4d (three parcels). Dunedicfc. —Commercial Bank of Australia, 30s 3d; Union Bank, £ls 7s 6d; New Zealand Breweries, 55s 6d; Dalgety and Co., £ls 7s; New Zealand Refrigerating (paid), 19s. LONDON MARKETS TALLOW SALES AND WHEAT (Australian and N.Z. Press Association) (United Service) LONDON, Wednesday. At the London tallow sales to-day 755 casks were offered and 303 sold at 3d to fid decline. Mutton, fine 465, medium 41s; beef, fine 4fis fid, medium 41s. Wheat cargoes are quiet and little changed. Parcels are in quiet request at late rates. Ex Otranto and Tongariro, 47s 9d; ex an unnamed Calcutta ship, 44s 3d. Liverpool futures: DecemberMareh delivery 9s 3£d per cental; May, 9s 3Sd. CHICAGO WHEAT (Australian and N.Z. Press Associatioti) Reed. 10.45 a.m. CHICAGO, Thursday. Wheat.—December. 1 dollar 14 cents a bushel; March, 1 dollar 19 1-S cents; May, 1 dollar 22 cents.

ESTIMATED WHEAT CROP

21,000 ACRES IN POTATOES Press Association WELLINGTON. Thursday. The total area under wheat in New Zealand for the season 1928-29 is estimated at 255,000 acres, compared with 262,799 acres last season. Oats are estimated at 303,000 acres, compared with 303,708 acres last season, and barley 22.000 acres,, compared with 21,752 acres. The following figures show the estimated areas for the North and South Islands:—North Island: Wheat, 3,700; oats, 19,700; barley, 2,250. South Island* Wheat, 251,300; oats, 283,300; barley. 19,750. It is estimated that 21,100 acres (North Island 4,200 and South Island 16,900) will be planted in potatoes. On the average of the last five seasons, namely, 5.34 tons an acre, the total yield from the estimated area shown for 1928-29 should approximate 112,674 tons, as against 121.402 tons last season. AUSTRALIAN PRODUCE (Australian and N.Z. Press Association) SYDNEY, Thursday. The following are to-day’s quotations on the Sydney produce market; — Wheat.—At country stations, 4s Id; ex triick, Sydney, 4s Bd. Flour. —Export trade quiet at £l2. Bran.— £6 ss. Pollard.— £6 ss. Oats.—Algerian, 4s 9d; white, 4s Sd. Potatoes.—Tasmanian, £11; Clarence River (new). £l4. Onions.—Victorian, £l6. Adelaide prices arc:— Wheat.—Growers’ lots, 4s 3d to 4s Sid. Flour.—Bakers’ lots, £ll 15s. Bran.— £6 10s. Pollard.— £7 2s 6d. Oats.—2s 9d to 3s. TlTi MELBOURNE HIDES MELBOURNE, Thursday. The Melbourne hides market to-day was irregular. All grades except picked and heavies declined £d to Id. T. AND G.’& BIG YEAR (Australian and N.Z. Press Association) MELBOURNE, Thursday. The directors of the Australasian Temperance and General Mutual Life Assurance Society, Ltd., announce that the new business completed for the financial year ended September 30 1928 amounted to £6,194,173 in the industrial department, and £5,304,552 In the ordinary department, a total of £11,498,725 in both departments.

This is the largest amount of business ivritten by the society in any one year.

Sellers. Buyers. BANKS— i£ 8. < . £ a. d. Auat. of Commerce 1 13 9 1 13 3 ] lank of Australasia 14 16 0 Com. of Auat. . . 1 10 5 1 10 3 Ditto (pref.) .. .. 7 6 6 Com. Dank of Sydney 27 16 0 National of N.Z. Nat. of Australasia, — 7 0 0 (con.) 9 15 0 9 11 6 New South Wales . 52 0 0 51 10 0 New Zealand .. .. 3 1 6 3 1 3 Ditto D Mort. (20s 1 8 9 1 8 0 Union of Australia , lb 9 0 15 7 0 INSURANCE— A.P.A 0 3 6 National 0 17 2 0 16 10 New Zealand .. .. 8 0 7 0 Queensland 3 7 6 3 6 0 South British •• .. 3 4 3 LOAN AND AGENCY— Farmers’ Co-op. Auc — 2 7 6 Ditto A (pref.) .. — 0 16 6 0 15 6 Goldsbrough, Mort . 12 0 2 11 3 Nat. Mortgage. . .. Newton King (pref) 7 Z N.Z. River Plate .. N.Z. Guaran. Corp. 6 0 S 10 0 8 8 N.Z. Loan and Merc. 116 0 0 Ditto (pref.) .. .. — 82 0 0 N. Auckland Farmers’ Co-op. (ord.) .. 0 3 6 - COAL — tlikurangi .. .« . 0 6 2 0 5 8 Ditto (pref.) .. .. 0 11 3 0 10 Ditto A (pref.) 0 10 0 0 9 3 9 0 Renown 0 16 6 0 15 Ditto (pref.) .. .. 0 0 0 2 9 Taupiri •• 1 7 Ditto (pref.) .. .. 1 Waipa % 0 13 9 0 Westport Stockton . 0 3 S 0 3 Ditto (prefD .. .. — 4 GAS— Auckland 1 3 n 1 3 0 Ditto (con.) .. .. 0 17 6 0 17 Gisborne * 0 9 0 Thames 0 10 0 — SHIPPING— Devonport Steam .. 1 4 9 1 4 6 Huddart-Parker 2 8 J 7 9 Ditto (prefD .. .. l 0 9 Northern Steam 0 14 0 0 13 10 Ditto (eon.) . . . . 0 6 10 0 6 7 1*. & O. (def. stk.) 17 6 6 Union Steam (pref.) TIMBER— 1 1 0 1 0 6 Bartholomew .. . . 1 0 6 — Kauri Timber . . .. l 0 0 ■— 10 WOOLLEN— Kaiapoi 0 14 0 <k 13 9 Ditto (con.) .. .. 0 9 Ditto (pref.) . • .. 0 15 0 14 M osgiel Wellington 7 6 7 6 7 17 0 6 Ditto (pref.) .. .. BREWERIES— 6 18 6 C. L. Tnnes (pref.). 1 0 6 0 18 6 N.Z. Breweries .. .. 2 16 6 2 15 9

MISCELLANEOUS— Steel (pref.) .. .. 1 0 9 1 0 0 Auck. Amuse. Park u 3 t> Australian Glass .. 6 6 British Tobacco 5 0 4 0 Burris, Philp . . . - 4 Bycroft, Ltd 1 12 Checker Taxi . . . - 0 10 0 0 6 Colonial Sugar (Australia) . . - . 62 10 0 62 0 Dental & Medical . . Dominion Pictures 1 5 0 Ditto (pref.) .. .. 1 1 Donaghy’s Ditto (pref.) .. .. l 14 Fullers’ Pictures .. 1 Grey and Menzies . d Hamilton Theatres . 1 1 Henry Jones Co-op. Hill and Plummer . H.M. Arcade (pref.) Kemptliorne Prosser Lewis Eady (ord.) . 1 3 6 Ditto (pref.) .. .. 0 19 6 Milne and Choyce .. 5 Ditto (pref.) .. .. 5 Ditto (B pref.) .. Ditto (deb stk.) . - N.Z. Fertiliser .. .. 0 18 3 0 17 3 N.Z. Refrigerating 0 9 6 0 Robinson Ice Cream 1 3 0 1 6 Sanford, Ltd 0 19 6 0 IS Ditto (pref.) .. . * 0 18 6 Sharland . . .. 1 0 0 Taranaki Oil 0 7 6 0 6 0 Thames Theatre 0 15 0 0 10 0 Union Oil 2 6 Whittome Stevensons 7 0 Wilsons Cement .. 0 0 1 19 9 Farmers’ Trading 0 7 6 Ditto B (pref.) .. — 0 9 6 MINING— \ Alburnia (2s pd.) . . 0 2 0 Lucky Shot (4s pd) 0 0 9 Maoriland (con.) .. 0 0 6 Ohinemuri (ord.) .. 0 7 0 7 1 Waihi 0 13 9 0 13 8 Waihi G. June. 0 0 11 0 0 6 Mount Lyell .. .. — 1 16 6 DEBENTURES— Auckland Gas, 1935. 6J per cent. .. 103 0 0 Auckland Harboi Board, 6 p.e... 103 0 0 Bor Devon port, 6 101 0 0 Bor. Mt. Eden, 5§ 101 0 0 Ditto. 6 p.c. . . 102 0 0 Bor. Hamilton, 6 3. 102 0 0 N.Z. Breweries 1 4 5 Nat. Trading, 6 p. 100 0 0 Glaxo — 89 0 0 GOVERNMENT BONDS War Loan, 1930, 4* 100 0 0 99 0 0 Ditto, 1938, 4i p.c. LOO 0 0 99 0 0 Ditto, 1939, 4£ p.c. LOO 0 0 99 0 0 Ditto, 1941, 4J p.c. 99 0 0 Ditto, 1933, 5i p.c. 101 2 6 Ditto, 1930, 5$ p.c. — 101 2 6 INSCRIBED STOCK— War Loan, 1938, 4J 100 0 0 99 0 0 Ditto, 1939, 4i p.c. LOO 0 0 99 0 0 Ditto, 1933, 5i p.c. 101 .0 0 101 6 Ditto, 1936, 5i p.c. 101 2 6