COMMERCIAL.

Timaru Herald, Volume XCVIII, Issue 18084, 9 June 1924, Page 4

COMMERCIAL.

LONDON MARKETS. Hr Cable-. Pruss Association —CorvriKht Received 5.5 p.m., June 8. LONDON, June 7. Lambs, Canterbury, light lid, medium 103 d, seconds 10 l/Bd. Other selecteds, medium 10 3d. Argentine seconds 0 3/Sd, Patagonian seconds 9 5/Sd. Frozen beef, Argentine fores, Sid, hinds SJ, Uruguay fores 3d, Chilled beef, Argentine fores 3 3s Bd, fores others unchanged. Coiton, Juiy 16, 96d per Id. Rubber, para, per lb, plantation smoked 10 5/Sd to 103 d. Jute, June-July shipment, £37 15s. Hemp, May-Ju tJ shipment, £36 10s. Copra, May-June shipment £27. TATTERS ALL’S REPORT. The entry at Tatiersail’s on Friday comprised fifteen horses, mostly of inferior quality. The attendance was fair, and the bulk of the yarding changed hands, as follows: —Draughts £ll 10s, £l2 10s, £l6, £l3, £2l, £25, to £26. Harness horses sold at £3, £5, £6 to £8 10s. PRICES OF FAT STOCK. The Meat Producers Board advisethat the following -prices were being offered at sth June: — Poverty Bay.— Wethers, Gilbs and under, 6Jd; prime woolly lambs, 421bs and under, 9|d. Hawkes’ Bay—Wethers, G4lbs and under, 7d; ewes, 641bs and under, >siu. prime woolly lambs, 421bs and under, 10id. , , Wellington.—Prime woolly lambs, 421bs and under, IOJd. Canterbury.—Wethers, 641 bs and under, 74 d; ewes, G4lbs and under, 5Jd: prime woolly lambs, 421bs ana under, llfd; 431bs and over, 10J-d; second nualitv lambs, 103 d. Southland—Prime woolly lambs, 42 lbs and under KBd. 431bs and over 9Jd, second nuality lambs 9;]d. STOCK EXCHANGE. By Telegraph—Press Association. CHRISTCHURCH, June S. Sales reported.—Union Bank £l4 13s, National Bank of New Zealand rights 35s 6d, Gear Meat (ex div ) 33s (two parcels), Huddart Parker 42s 6d (two parcels. Sales on ’Change—New Zealand Refrigerating (cont.) 9s 2d. REVIEW OF THE SHARE , MARKET. The market for leading stocks continues hrm, and the number or transactions uurmg tne week was up to tno average, notwithstanding tne break caused by tne King's Birthday. Bank of Australasia were steady at late rates, £l3 4s ; ueing ottered, and a shilling more being asked. Commercial of Sydney are hardening, £22 IDs buyer, with, .a seller ten shillings above. Considerable, business has been done in National Bank rights, at from 35s to 35s 6d, which is a rise of 3s in ten days. The new shares will be allotted on June 13. Ex-rigttts the old issue is asked for at £6 lls, without response. Tins price includes the dividend of 4s, usually payable at the end of July. A dividend of 10s per share has been paid on Bank of New South Wales, which have been sold at £4O, but are now in demand at 5s above that figure. Union Banks have been sold at fourteen guineas, and are inquired for at £l4 12s 6d. New Zealands are firmer—sales at 535, and 52s 9d, with a buyer at the last mentioned* figure, and an offer to sell at 53s ,3d. National of Australasia are £ls 10s buyers, with.a margin of 4s preventing sales. Very little has been done in insurance scrip. Reported sales of New Zealands at 29s 6d are on a par with last week’s prices. Nationals are weakening and are on the market at 73s Gd. Standards and South British remain in the neighbourhood of forty shillings, with no business. In loan and agency, Dalgety’s are without buyers at £l3 10s. New Zealand Loan (ordinary stock) has a wide quote —£8!) buyers, £92 sellers. Goldsbrough Morts are firm at a shade above last week’s quotations. Wright Stephenson, which have had a good year and declared the usual dividend of 7 per cent., have buyers of 5i per cent, at 17s. Perpetual. Trustees and Trustees Executors are unaltered.

A sale of Canterbury Meats at £l4, 1 indicates a rise in this scrip, while Gear Meats have had recorded business at 435. New Zealand Refrigerating have fallen from 10s 4d to 9s during the week, while little has been done in the paid-up issue, which are available at 20s 6d;‘ buyers offer par. A sharp rise in Crown Brewery shares is denoted by buyers offering 41s 9d, and sellers asking 445. Mannings are wanted at 265, but it takes a shilling more to make a sale. New Zealands are wanted at 23s 9d, a rise of nine pence, but there are no declared sellers. Wards are asked for at 455, and are offered at 465. Shipping shares are weaker all round. P. and 0. deferred stock is offered at £287 without response. Huddart Parker ordinary are 42s 3d buyer, seller 435; preference buyer 20s 3d. Howard Smith fail to elicit a response when offered at 36s 6d. Union Steam preference are sought at par. Westport Coals have had a sharp fall since the. interim dividend on June 1. A reduction of 50 per cent, on the dividend and a greatly lessened output do not indicate a probability of maintaining the last year’s _ rate. Buyers offer 355, sellers demanding 6d more. Stocktons are 5s and 5s 2d. The output of this mine for May was 10,645 tons of coal. It is considered that transport charges will be considerably reduced. Colonial Sugar are wanted at £44, but are not forthcoming at that price. The bonus shares lately issued make the old .shares worth at least £63 each. B.A.W.R.A. are failing, only 9s 5d being offered, and 9s 8d asked. Christchurch Gas fail to find a buyer at £8; and £7 10s doos not attract a seller of Timaru Gas. New Zealand Paper Mills arc slightly weaker, 21a 3d not being sufficient to induce business. Woollen shares are not as popular as they were 12 months ago. lfruco at 32s and Kaiapoi at under pur, fail to elicit response. Sales of Kaiupoi contributing at 7s 6d aro reported. Farmers’ Co-op shares aro not much sought —ip iotat ions unchanged. Mount Lyolls aro cum. div. of Is, payable June 27, and aro on offer at 2is 3d. Waibis have boon sold at 31s, and more can be placed at that figure. Grand Junctions are very weak, only 2s being offered for their scrip. War bond and local bodies' dobontunes me practically unchanged. Fivo and half per cent. Soldier bonds uro slightly firmer, and £lOl 15? j does not induce sellers to quit, Business Is ro- • erded in 44 per cent. (1938) at £96 i V (VI.