FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 639, 16 April 1929, Page 10

FINANCE & MARKETS

Healthy Trading

Banking Group Firm

By ‘’.Noon Call.” HEALTHY irading was recorded on 'Change this morning Trading was spread over a comparatively wide range.

FLUCTUATIONS Price movements shown by a comparison of sales over the past 24 hours, with prices at the time of the previous recorded sale, • ncl ude: Taranaki Oil, fall of 3d. Auckland Harbour Board, 1939. 5« per cent., fall of 7s 6d. N.Z. Breweries, fall of 3d. Electrolytic Zinc, fall of 10d. Westport Stockton, rise of 3d. Although the volume of business in the group shows a temporary easing, tiie market for banking scrip is very firm. Most shares are meeting with a steady demand on an unchanged market. More attention is being paid to timbers, with steady buyers maintaining Quotations for shares in most of the better-known concerns. Kauris are active around 17s 6d, the market price for this scrip for several weeks. News from across the Tasman over the past 24 hours should have a brightening effect on the future market for Kauris, in the fact that the cessation r>f the* trouble with the workers over there should allow a revival of normal operations. In Xew Zealand indications are that the trade is meeting with slightly better times. As the writer has frequently stated, bad times

cannot hold for ever, and the concerns which can hold out the longest must come out on the right side of the ledger in the end. The same rule applies to holders of the shares where the company is well managed. In the miscellaneous group Taranaki Oils have strengthened from yesterday afternoon’s easier market at 4s 3 od. A Press Association message from Gisborne to-day states that, although the company has been successful in checking the flow of water, it is still meeting with trouble as a result of caving in the bere. There is little to indicate that the shares have much speculative attraction at the moment. • * * Business yesterday afternoon: Waihi Mining, 13s 8d (two parcels); Auckland Harbour Board, 1939, 52 per cent., £99 2s 6d; Kauri Timber, 17s 6d; Sanfords, Ltd., 18s 9d: Taranaki Oil, 4s 10d. Business this morning: New Zealand Inscribed Stock, 1933, 5£ per cent., £lOl ss: Bank of New South Wales, £sl ss; Huddart-Parker, 455; New Zealand Breweries, 62s 9rl; Electrolytic Zinc, 35s 3d: Ohinemuri Mining, 8s sd. Business at mid-dav: Milne and Chovce (debentures), 265: Westport - Stockton (ordinary). 3s: Northern Steam (con.), 7s Id: Waihi Mining, 13s Bd.

TO-DAY'S QUOTATIONS

SOUTHERN EXCHANGES YESTERDAY’S SALES Press Association Wellinaton. —Wellington Woollen, ordinary, £7 ss: New Zealand Breweries, 635; o j per cent, stock (1936), £lOl 12s 6d: Bank of Australasia, £l4 17s: Bank of New South Wales, £sl ss; New Zealand Insurance, 475. Christchurch. —Commercial Bank of Australia. 29s 10d (thre<i parcels); Goldsbrough, Mort, 63s Sd. 63s 9d (two parcels): Staples Brewery, 45s 9d; Beath and Co.. 31s. Dunedin. —Bank of New Zealand, 62s ::d: New Zealand Breweries shares, 635; Waihi, 13s Sd. WOOL SALES AT SYDNEY SYDNEY, Monday. The Sydney wool sales have been resumed. There was good general competition to-day. Values were tirni at the rates prevailing when the last sales closed. Greasy Merino sold to 23$d. A total of 10.705 bales were asold. DUNEDIN WOOL SALE f From Our Own Correspondent) DUNEDIN, Monday. It is expected that between 3,000 and 4.000 bales will be catalogued for the fourth Dunedin wool sale, to be held on Thursday. Not much of the wool to be offered has been hold over from previous auctions. It is mostly wool from the back country, clips from stragglers and the product of 'ate shearing. The majority of the usual buyers will be represented. BAY OF PLENTY DAIRYING The amount to be distributed to suppliers of the Bay of Plenty Dairy Company’s factory at Te Puke for March is £17.206, plus a further payment of £6,589. making a total of £23,795. For j the corresponding month last year the pay-out totalled £19,681. The total amount paid out from July 1, 1928. to March 31, 1929, was £182,747, compared v itc. £109.326 for the corresponding period , ast season. The butter manufactured i 'luring the nine months ended March 31 • ' tailed 1.315 tons. East year the ciuan- I • > ma n in same period was i > i ■« tons 1» cwu

BUTTER AND CHEESE DAIRY BOARD’S REVIEW | Under date April 32, the London office of the New Zealand Dairy Produce Board ! cabled as follows (last week's quotations are given in parentheses;:— Butter New Zealand: Salted, 164 s to 166 s (160 s to 1625); exceptional, 168 s (L63s); unsalted, 166 s to 170 s 1164 s to 168 s). First whey, 154 s (1525); second whey, 1.52 s (150 s). Deliveries New Zealand this week, 2,400 tons; in store, 7,750 tons. Australian: Finest salted, 158 s to 162 s (154 s to 158 s); unsalted, 160 sto 162 s (158 s to 1625). Argentine: Finest unsalted, 150 s to 160 s (150 s to 1545). Danish: F.0.b., 160 s (1555); spot, 166 s to 16Ss (162 s to 1645). Dutch: Unsalted, 208 s (204 s to 2065). Estonian: 157 s to 158 s. Siberian: 154 s to 15^. Market quiet at the advance. Retail prices unchanged. Cheese New Zealand: White, 89s to 90s (86s to S7s>; coloured, 90s to 91s. Deliveries New Zealand this week, 28,338 crates; in store, 153,866 crates. Canadian: White, 108 s to 112 s (108 s to 112 s); coloured, 106 sto 110 s (106 sto 410 s). Australian: White, SSs (8 4s to 85s); coloured, 80s (S4s to 86s). English: Finest farmers, 142 s to 144 s (142 s to 1445). Market firm. Retail prices unchanged. Shipping Movements The Port Caroline commenced to discharge cheese on April 5, and finished on April 6. The llahana commenced to discharge butter on April 5, and finished on April 9. The Corinthic finished discharging butter on April 9. The Cumberland finished discharging butter on April 10. The same vessel finished discharging cheese on April 8. The Port Alma commenced to discharge cheese on April 9 and finished on April 11. The same vessel commenced to discharge butter on Ap. . 11. Conditions on the Continent The weather in the United Kingdom and Continent is now cold. The increase In the Danish production is attributed to more dairy cows, a good autumn hay harvest, the absence of foot and mouth | disease in the last IS months, and a ■ higher butter-fat content. BRADFORD TOPS MARKET (.1 ustration and X.Z. I’ress Association) Reed. 10.25 a.m. LONDON, Monday. At the Bradford tops market very little ' business is passing. Quotations are j maintained, but the inquiry is diminishins.

Closing quotatoins at to -day’s mid-da Sellers. Buyers. t i 1 c l £ • a EAXKS— Ausi. of Com. 1 16 3 1 ft Adelaide 30 7 6 Australasia 14 lfi ft Com. of Australia . . 1 1ft 1 0 Ditto (con.) ft 14 ft Ditto ( prer. > .. . . T 1L 6 7 s 0 Eng., Scot.. & Aust. National of N.Z. S 14? 8 7 3 0 National of Australasia (con.) 14 ft ft 12 Sew South vVales . 51 7 6 51 8 Now Zealand .. .. 3 3 0 Ditto. D. Mort .. 1 s 6 Union of Australia . 15 12 ft 15 ft 0 INSURANCE— A.P. A. . ft s 1ft Now Zealand .. .. 7 0 2 6 8 Queensland 3 8 ft 3 7 South British .. s b Standard 4 ft LUAN A_ND AGENCTAbraham and Williams 4 1 6 Ditto (pref.) .. . 4 7 6 Dalgety and Co. 15 ft 15 1 2 i- armors’ Co-op. Aue. IB 0 Goldsbrough, Mort.. 1 -4 ft 13 3 Newton Kins (pret) ft 8 6 N'.Z. and River Plate 1 12 0 \.Z. Guar. Corp. . 0 ft 1 ft 8 ft X.Doan and Mere. 130 ft 0 127 ft ft Ditto (pref.) .. .. N\ Auck. Farmers’ — SO 0 0 Co-op. (ord.). . . 0 2 Ditto (B pref.) .. 0 11 6 0 ft 0 COAtrGrey Valley 1 3 « J 2 K HiWurangt — ft 2 6 Dit to (pref. ) . . . 0 8 7 3 Ditto A (pref ) .. 0 s 0 4 ft Pukemiro Renown . . .. IS ft Ditto ( pret. > . . . . 0 0 1ft Taupiri 1 6 8 Ditto (pref. > .. .. 1 3 0 Waipa ft 13 ft 12 0 AY estport-Stockton ft 0 1ft Ditto (pref.) .. .. GAS— 1 0 6 Auckland . .. .. 1 4 4 1 4 1 >itto (con » .. . . 0 IS ft 13 ft 10 S HIPPING— Devonport Steam . . 1 4 3 — Howard Smith 1 K — Fluddart-Parker . . 6 4 0 Ditto (pref.) .. 1 ft ft Northern Steam 0 14 1ft Ditto (con.) .. .. P. and O. (def. 0 1 4 0 ( 0 stock) Union Steam (pret.) 5 1 H 1 i 6 TIMBER— Bartholomew .. .. 1 1 fi ft 18 0 Kauri Timber .. .. 0 17 ft 0 1 l ft Levland-O'Brien 1 14 6 1 13 6 National 0 ft 0 Parker-Lamb .. .. 0 1ft 0 0 16 0 WOOLLEN— Kaiapoi 0 14 6 „ 14 0 Ditto (con.) .. .. Ditto (pref.) •. .. BREWERIES — — 0 Id ft C. L. Innes (pref.) 1 n ft N.Z. Breweries MISCELLANEOUS— 2 2 ° 2 2 A tick. Amus. Park . ft S 0 Ditto (pref.) 0 13 0 —

call were:— Seilers. Buyers. Aust. Iron and Steel (pref.) 1 1 6 British Tobacco s 3 7 6 Bycroft, Ltd 1 12 6 Checker Taxi .. .. 0 7 0 Colonial Sugar .. .. 60 5 0 Dominion Picture* . Ditto (pref.) .. .. 1 1 f Donaghy'g Rope . . — 1 13 4 Dunlop Rubber 1 9 .Electrolytic Zinc Cord. > 1 6 1 Ditto (pref.) .. .. T 15 9 Farmers’ Trading . 0 8 9 Ditto A (pref.) n 17 Ditto, B (pref.) . 0 14 ft Gear Meat 6 Grey & Menzies 0 Henry Jones Co-op. 1 16 9 H. M. Arcade Theatre Ditto (pref.» .. .. 1 1 Milne and Choyce. . t Ditto (pref.) .. .. 1 Ditto JB (pref.) l 9 Ditto (deb. stock) 1 fi 4 1 5 9 X.Z. Farmers’ Fert. 1. 2 ft 3. 1 X.Z. Paper Mills . 0 19 0 IS X.Z. Refrig, con.) . 0 7 4 ft 7 i Robinson Ice Cream 1 Sanford. Ltd 0 IS ft 18 3 Ditto (pref.) .. .. 1 0 6 ft 19 « Taranaki Oilfields . . 0 . 5 6 ft a ft Thames Theatre .. 0 10 0 Victoria Nyanza Sugar 5 ft Whltton<% Stevenson .10 0 2 4 6 Wilsons Cement — 2 0 9 MIXING— Alburnia )2s Sd pd). ft 2 2 0 1 3 Moanataiari (paid) . 0 1 6 ft ft Lucky Shot (4s pd.) 0 0 9 Ditto (con.) . . ft ft 7 Maoriland (con.) 0 ft 6 Occidental- L na (2s paid) ft ft «; ft ft Ohinemuri (orrt. ) 0 S ft sDitto (pref.) .. .. ft 9 ft Waihi 0 13 9 0 13 S Waihi Grand June. . ft 1ft Mount Lyell 2 4 0 2 3 6 DEBENTURES— Auckland Gas, 1932. 94 ft 0 Ditto, 1935, 6* p.<-. 103 0 0 Auckland Harb. Bd. 100 0 0 Auckland Harbour Board, 6 p.c. 103 0 0 City of Auckland, 1940, 5i p.c 100 0 0 99 0 0 Ditto, 1943, 5i p.c. 100 0 0 Hamilton Fire Board. 6 p.c 104 ft 0. Bor. Mt. Eden, 6 p.c. 103 0 0 Frank ton P. Board. 5? per cent 103 ft N.Z. Breweries Gisborne Sheepfarners’ 97 10 0 90 0 0 GOVERNMENT BONDS — War Loan. 1938, 4& 100 0 0 99 10 0 Ditto. 1939, 4i p.c. 99 1ft 0 Ditto, 1933, 5i p.c. 99 0 0 Ditto, 1933, 5} p.c. 101 10 0 — INSCRIBED STOCK. War Loan, 1938, 4* 100 2 6 Ditto, 1939, 4i p.c. 100 6 Ditto. 1933, 51 p.c. 99 In ft 99 0 0 Ditto, 1933, p.c. 101 10 0 Ditto, 1936, 5i p.c. 101 10 0 101 0 0