COMMERCIAL

Timaru Herald, Volume XCVIII, Issue 18084, 30 June 1924, Page 10

COMMERCIAL

LONDON MARKETS. By Cable —Press Association —Copyright. Received June 29, 5.5 p.m. LONDON, June 28. Sheep—New Zealand, North Island, heavies CJd; Argentine ewes 4|d. Lambs—New Zealand, Canterbury, heavy 9-|d. Frozen beef —Argentine fores 2£d, hinds 4|-d; Uruguayan fores l|d, hinds 33d. Chilled beef —Argentine fores 2d, hinds 4-id : Uruguayan fores ljd, hinds 33d. Other meais unchanged. Cotton —Liverpool quotation, American Middling Upland, July delivery, 16.73 d per lb. Rubber—Para lid per lb; plantation lOjjd, smoked 10gd. Jute—lndian, new crop, August shipment, £'2B 15s 4d per ton. New Zealand liemp, July-Septcmber shipment, £37 per ton. Linseed oil, £lO 10s per ton, equal to 3s 2Jd per gallon. Turpentine 655, per cwt, equal to 5s BJd per gallon. LONDON MEAT TRICES. By Telegraph—Press Association. WELLINTON, June 29. The Meat Producers’ Board has _ro ceived the following cable, dated 27th June, advising Smithfield delivered prices at that date, as_.follows: — New Zealand wethers and maiden ewes— Canterbury quality, selected brands, 561bs and under, 7sd per lb., 571 bto 641 b, 7d, 641 b to. 721b^6Jd; other brands 561 b and under 7d_, 571 b to 641 b Gjjd, 651 bto 721 b 6id. New Zealand ewes, 641 b and under sid. New Zealand lamb — Canterbury qualitv, 361bs and under lid, 37Jb to 421 b lid, 431 b to 501 b lOd; seconds 10 l-3d; selected 361 b and under llid, 371 bto 421 b litd; other brands, first quality, 421 b and under lO.fd, seconds lOd. „ Argentine chilled-beef. —Ox fores 2d, ox hinds 4-id. Argentine frozen beel —Ox fores 2|d.. ox hinds 4 ; \d. Frozen pork not quoted.

STOCK EXCHANGE. Bv Telegraph—Press Association. AUCKLAND, June 28. Sales. —War Loan, 1938, Union Bank of Australia £ls; Kauri Timber 28s 9d. CHRISTCHURCH, June 28. Sales on ’Change—Royal Bank (£1 paid), 335; New Zealand Insurance 29s 7d ; Standard. Insurance 40s; New Zealand Paper Mills, 21s 9d. REVIEW OF THE SHARE MARKET. Although the number of sales on ’Change was not great, prices were well maintained and prices of all gilt edged securities remained firm. The most notable features were the rise in National Insurance and iu Union Bank: Bank of Australasias were quitted at £l3 6s and at £l3 7s 6d ,buyers being absent at the close. National Bank new issue are on the market at £6 10s, and the old shares are inquired for at £6 10s 6d, with sellers at £6 15s, Sales of New South Wales at £4O 12s were made, with sellers quoting £4O 10s, and buyers offering 7s 6d less. Unions are cum. dividend, and business has been effected at £l4 19s and £ls, sellers being willing to continue at the last named figure. Bank of New Zealand are ex-div., and buyers are on the market at 53s 6d, sellers hot declaring. Commercial Bank of Australia and Royal Bank are not much in request, and remain at last quotations. National Insurance which were dealt in last weeek, at 67s 9d, leaped to 70s, with buyers offering 70s 3d, at tho close without response. Sales of Standard at 40s, with further sellers at 40s 6d, and South British at 40s 6d, chow little change. New Zealands are 'slightly firmer, 29s 6d and 29s 9d being buying and selling prices respectively. Miuidart Parkers are wanted at 425, for ordinary, and preference at 20. s6d and so are Union Steams at par for preference. P. and O. deferred stock at £272 indicates a firming tendency. In the loan and agency group Dalgetvs are difficult to obtain at £l3 2s od. Goldsbrough Morts are on the market cum. div. at 50s'6d, with buyers only offering 48s. Wright Stephenson ordinary at 30s do not attract a buying quotation, but preference are : in request at 17s. New Zealand Loan and Mercantile (ordinary stock) has firmed to £9O, without sellers responding. Perpetual Trustees at 40s, and Trustees Executors at 55s remain unaltered. Little is doing in New Zealand Refrigerating Company shares. Paid-ups are wanted at par, while tho contribs. are 8s lOd buyers, 9s 3d sellers. Canterbury Frozen Meats are cum. div. payable shortly, and are wanted at £l4, sellers asking 3s Cd more. Gear Meats have a buyer at 42s 6d, but sellers are silent. ’Woollen mill shares are not keenly sought for. Kaiapoi contribs. are wanted at 7s, but 9d more is required to do business. Ordinary can bo obtained at 19s, and preference at par. Bruce 'Woollens are asked for at 30s, and Mosgiels at £6 15s. Coal mining shares are slightly better than a week ago. Westports have been transferred at 35s 9d, and Taupiris at 19s while buyers of Stockton at 4s 9d and preference at Cs 3d remain unsatisfied.

Wilson’s Cement have been dealt in at 2Ss 6d, and Milburns are very firm at fibs 6d. D.J.C. ordinary have been transferred at 4s fid, and a premium of fid is offered for the 6 per cent, pref. Brewery scrip lias maintained the rise which started a fortnight ago. Mannings have had .sales at up to 28s, and more could be placed at 27s Gd. Wards are up to 475. New Zealand Breweries are, sellers 29s for ordinary, and 22s is asked and 21s offered for the ten per cent, debentures. Sales have taken place at 225. In mining shares Wailiis have been sold at fils. The annual meeting disclosed a very favourable financial position. Little business has been done in any other mining proposition. For 41 per cent. 1923 War Loan, .£97 5s has been given which is slightly less than last week. The issue of 1939 hits been similarly dealt in. Soldiers loan of 1933, per cent, has been sold iit last week’s figures, and the same may be said of P. O. bonds falling due in 1927. LIQUIDATION OF AVIATION COMPANY. The final meeting of the Canterbury (New Zealand) Aviation Company, was held on Friday. The property of the Company was taken over by the New Zealand Government, and the liquidator reported that a loss of 3s OJH in the £ had been made by shareholders. I'lie paid up capital was ,£30,u()0. and the loss £.5062 17s 7d. I'lie chairman stated that all expenses had been cut down and all accounts duo had been collected. The report and balance sheet were adopted. TATTFRSALL’S REPOBT. The entry at Tnttersalks on Friday comprised 19 horses of all sorts, made np mostly of aged draughts. The attendance was good, and most of the yarding changed hands. Thero wore several inquiries for young draughts, which the auctioneers were unable to supplv. Aged draughts sold ns follows: £l.O ids £ls, JL-1R IPs, .£2O, £22, £25, to £27; stale sorts were? unsaleable. Harness horses, £4 10s. £5 10s to £7 10s. Harness and sundries sold at late prices.