FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 565, 18 January 1929, Page 12

FINANCE & MARKETS

Firm Tone on ’Change

Big Rubber Merger

(By

“NOOX CALL”)

THE market for all the better class securities continues to be maintained in very firm tone. Although there has been a slight easing off in the volume of business reported, there is a strong demand for all tested securities.

I N the banking group Commercials of Australia maintain their recent rise. furthex business being put through at 31s. Other banking scrip meets with, a very firm demand. Insurances also remain high in public favour with the market for New Zealamis particularly firm.

Coals are holding a wider range of interest, with Renowns and Pukemiros in most favour at the moment. The preference issue of Renowns was dealt with again yeste.rdav afternoon at 2s Bd.

The miscellaneous group shows little movement. Rubbers have received littl« attention during the past month

so. In connection with these conrns it is interesting to note that c mail from Sydney yesterday

brought further information regarding the amalgamation of the Perdriauf 'unlnp- Barnett Glass interests. The boards are reported to be agreed on

the main issues of the proposal and further particulars are expected any day now. Should the amalgamation of the three companies be effected, it will represent one of the greatest industrial. mergers in Australia. Their combined capital is £4,426,498, and aggregate assets shown by the latest balancci sheets were £6,229,924. The amalgamated company would be in close association with the big Dunlop Company of England, which last year became a partner in Australian Dunlop by taking up £500,000 of shares.

Business yesterday afternoon:—On ’Change: Auckland Gas (ord.), 24s sd; Devonport Steam Ferry, 24s sd; Waihi Mining:, 14s 6d. Reported: Commercial Bank of Australia, 31s; Renown Coals (pref.), 2s Bd.

Business at to-day’s mid-day call: On ’Change: Devonport Steam Ferry. £1 4e 6d. Reported: Commercial Bank of Australia. £1 11s; National Bank of Australasia (eon.), £9 10s; Auckland Gas (con.), 17s Dd.

TO-DAY’S QUOTATIONS

SOUTHERN EXCHANGES

YESTERDAY’S SALES Press Association Wellington.—Burns, Philp and Co., 4Se. Christchurch. —Bank of Adelaide, £lO 2« 6d ; Tiinaru Brewery (new, 2s 6d Pit id), 6s 3d; Commercial Bank of Australia, 30s lOd, 31s (two); Northern Steam (fully paid), 14s Id. Dunedin.—Bank of New South Wales, £sl; Union Bank. £ls 6s 6d (cum div.); P and O. deferred Stock, 60s; Dalgety and Company, £ls 6s 6d.

EAST TAMAKI DAIRY COY.

PAY-OUT FOR DECEMBER

The sum of £13,307 17s will be paid out by the Bast Tamaki Co-operative L»airy Company on January 20. for milk supplied up to December 31.

The amount paid for finest was Is 6id, first grade Is 53d, and second grade is 43d, all plus a half-penny a lb to shareh«*lders.

The make for the month totalled 20? 110 lb . which shows an increase of 54 per « ent. over the same period last year. rout ing the first seven months ‘of the present season just on 400 tons of butter h.:ve been made, which exceeds the quantity manufactured for the whole of last season.

PROVINCIAL STOCK SALES

At Ohinewai sheep and cattle sale this week, the New' Zealand Loan and Mercantile Agency Company. Ltd.. Hamilton, reports, only a small entry of cattle came forward. Rates were: !• at cows, £8 2s 6d to £8 15s: cows in 1 iesh to forward condition. £5 15s to £ 6 16s: Jersey cross and Friesian heifers R.W.8., £4 18s to £ 5 12s; dairv cows at profit. £8 10s to £8 15s. At Waingaro sale, shorn store lambs r< .tlised 17s 9d to £l. The North Auckland Farmers’ Cooperative Association. Limited, reports rliat the first sheep fairs of the season were held at Ohaeawai and Kaikohe on 1 muary 15 and 16 respectively. They • n ew large attendances of buvers front all parts of the North. With the exception of a few rams every line offered changed hands at prices entirely satisfactory to vendors. Prices were I • s follow:—Two-tooth wethers, 24s Id »«• 27s 2d: two-tooth ewes. 32s 4d to 35s 3d: full-mouth ewres, 21s to 26s 3d: ru >. lambs, in wool, IDs 7d to £1 Is: best shorn lambs. IDs 3d: second duality. woolly. 15s to 17s; cull lambs, 11* 6d U 14&.

LONDON WOOL SALES

PRICES MAINTAINED (Australian and N.Z. Press Association) LONDON, Wednesday. At the wool sales 8,882 bales were offered, of which 6,652 were Australian and 2,010 New Zealand. There was a good selection of Merinos suitable for all .sections, a medium offering of super-style greasy Crossbreds, and a few slipes and scoureds. The prices maintained opening rates. There were some withdrawals of scoureds, owing to high limits New Zealand: Waihua, 21d, top price, 19£d average. AUSTRALIAN PRODUCE (United P.A.—By Telegraph—CopyrightJ SYDNEY, Thursday. The following are to-day's quotations on the Sydney produce market:— Wheat.—At country stations, 4s OJd; ex trucks, Sydney, 2s 7Jd. Flour.— £ll Bran and Pollard. — £7. Potatoes.—Tasmanian, £ls to £2O; Victorian, £lB. Onions.—Victorian, £l3. Oats.—Algerian or white, 4s Od. Adelaide prices are: Wheat.—Growers’ lots. 4s 6*d. Flour.—Bakers’ lots, £lO 7s 6cl. Bran.— £5 17s 6d. Pollard.— £6. Oats.—2s 6d to 2s Bd. Reed. 10.35 a.m. MELBOURNE, To-day. Wheat. —4s 73d to 4s 7d. Flour.— £ll to £l2 7s 6d. Bran.— £6 ss. Pollard.— £6 10s. Oats.—2s lid to 3s. Barley.—English, 4s to 4s 3d. Maize.—ss. COLOMBO TEA SALES (Australian and N.Z. Press Association) COLOMBO, Wednesday. A. total of 3.500,0001 b. of Ceylon teas were catalogued at yesterday’s sales. The quality showed a slight improvement and prices were firm nt last week’s rates. Quotations are: Broken Orange Pekoe, fine. 125 to 130 cents a lb.; medium, 105 to 10S cents.: common, 87 to 90 cents: Broken Pekoe, fine. 112 to 115 cents: medium, 95 to DS cents: common, 77 cents; commonest, 70 cents. Next week’s auctions will comprise, about 3,750,0001 b.

Closing: quotations at to-day's mid day Sellers. Buyers. £ 8. d. £ a. d. BANKS — A use Bank of Com. 1 14 3 1 13 3 Australasia 14 IS ft 14 10 ft ' "om. of Australia .. 1 1 1 l 1 L 0 Ditto (pref. ) . . 7 1ft 0 K nji, Soot. & A ust. S 14 0 National of N.Z. .. 7 5 0 7 3 0 Nat. of Australasia (con.) .. .. 9 9 () N ( w South Wales .. 50 17 6 New Zealand 3 6 3 2 0 Ditto (D raort. 20s paid) l 7 6 I nion of Australia . 15 17 0 lb 14 0 INSURANCE— 0 9 3 ft ft 9 Rational ft lfi 3 0 1ft ft New Zealand . . 7 ft South British . . . . 3 4 3 3 3 9 •Queensland — 3 3 0 LOAN AND AGENCY— Abraham and WilHants (pref. ) . . — 4 ft ft Dalgety and Co. . . lb 5 ft Farmers’ Co-op. Aue. s 1 ft * Lddsbrough Alort 2 12 3 1 1 3 Newton King (pref.) 0 8 New Zealand and River Plate 1 J 4 ft 1 12 ft N Z. Loan anti Mere. — 3 18 ft 0 Ditto (pref.) .. .. — 80 0 0 N Auck. Farmers Co-op. (B pref.).. 0 10 ft — COAL.—Hkurangi ft 6 ft — Ditto (pref.) . . .. 0 11 ft — Ditto (A pref.) .. ft U 0 Pukemiro 1ft ft 0 Renown (ord. > . . . . ft 17 ft 1ft Ditto (pref.) .. .. 0 10 1 7 Taupiri 1 6 0 5 4 Ditto (pref.) . . . . 1 3 0 W aipa 0 13 estport . . 1 1ft 6 W estport-Stock ton 0 3 a 0 3 0 GAS— Auckland 1 4 6 1 4 . 3 Ditto (con.) .. .. 0 18 0 0 1Y 8 SHIPPING— Howard Smith .. .. 1 5 3 Huddart-Parker 2 9 0 2 S 0 Ditto (pref.) .. .. 1 0 t Northern Steam 0 13 Ditto (con.) 0 7 0 ft ft ft P. & O. (def. stek.) 39 6 1 nion Steam (pref.) 1 1 ft 1 Devonport Ferry .. 1 4 9 1 4 3 TIMBER— Kauri Timber.. 0 19 3 l.eyland-O’Brien 1 12 6 National 0 10 C — WOOLLEN— Ka iapoi — ft 13 3 Ditto (con.) .. ft 4 0 Ditto (pref.) .. ... ft 15 0 M osgiel w 7 2 V\ ellington . .. 7 Ift 0 ft ft Ditto (pref.) .. .. — 7 2 6 BREWERIESC. T i. lnnes ft 19 7 Ditto (pref.) .. .. — 1 ft ft > Z. Breweries.. m 1* 3 2 1ft ft div.) a . 2 JO 6 2 lb 0

cal] were:— Sellers. Buyers. MISCELLANEOUSAuck. Amuse. Park 0 40 ft 2 0 Australian Glass . . 2 8 (I British Tobacco 2 5 Burns, Philp . . .. — ft Bycroft, Ltd — 1 11 0 Checker Taxicab .. 0 9 0 Colonial Sugar 6ft 0 ft Dominion Pictures . 1 0 a Ditto (pref.) .. .. 1 0 6 Donaghy’s Rope . . 1 13 Electrolytic Zinc (pref.) 1 17 6 1 16 10 Farmers’ Trading (ord ) 0 8 3 Ditto, A pref. . . . 0 17 0 Gear Meat 6 Grey and Menzies . . ft 10 3 Hayward's Pictures 1 1 0 Henry .Jones 1 17 0 H.M. Arcade Theatre (pref.) 1 1 0 Holden’s Motors 1 10 0 Lewis Eady (pref.) 0 19 6 — Milne and Choyce .. 1 b » Ditto (pref.) .. .. 1 5 9 Ditto, B (prof.) . 1 5 9 Ditto, deb. stock 1 5 9 National Pictures . . 12 N.Z. Farmers’ Fert. 1 0 9 0 19 9 N.Z. Refrigerating (con.) 0 8 4 0 7 9 Sanford, Ltd 1 0 0 Taranaki Oil . . . 0 0 ft Thames Theatre . . 0 1ft Tonson Garlick ft 8 6 Union Oil 3 ft ft 0 Wairakei, Ltd ft 13 6 VVhittome, Stevensons 4 ft 2 ft Wilsons Cement 2 2 6 2 1 9 MINING— Luaky Shot (2s pd. i ft 2 ft Maoriland (con.) .. ft ft 6 . Ohinemuri (ord.) . . ft 8 6 0 8 Waihi 0 14 ft 14 Waihi Grand June.. ft 1 0 ft 0 8 Mount Lyeli 2 1 9 2 0 6 DEBENTURES— Auckland Gas, 1932, 5 per cent 94 0 ft Ditto, 1935, 65 p.c. 103 ft 0 Auck. Har. Board, 6 103 City of Auckland, 1940, 5$ per cent. 99 ft 0 98 0 ft Dit':o, 1943, 5i p.c. 97 10 0 Bor. of Devon port. 6 per cent. 102 0 ft Bor. VIt. Eden, . . 101 10 ft Dit to, 6 .. 102 10 Bor. Hamilton, 6 .. 102 N.Z. Breweries . . .. 1 6 0 Glaxo — 89 0 0 GOVERNMENT BONDS War Loan, 1930, 4£ 99 15 ft Ditto, 1938, 45 p.c. 3 0ft 0 0 99 Ditto. 1939, 45 p.c. 100 ft 0 99 1ft ft Ditto, 1933, 55 p.c. 101 Ditto. 1936, 54 p.c. 101 0 Ditto, 1941, 45 p.c. — 99 0 0 INSCRIBED STOCK War Loan, 1938, 45 100 0 0 99 1ft Ditto, 1939, 45 p.c. 99 ]ft Ditto, 1927-41, 5i . . 99 Dit to, 1933 55 p.c. 101 1ft ft Dit.to, 1936, 55 p.c. — 10ft 0 0