COMMERCIAL.

Timaru Herald, Volume XCVIII, 28 April 1925, Page 9

COMMERCIAL.

REVIEW OF THE SHARE MARKET

The Exchanges opened on the 20th, after ten days Easter vacation. The amount, of business none was up to the average, ancl the tone was buoyant, with a strong upward' tendency tor banking, insurance and high class investment shares. The balance sheets ot many companies are now in course of preparation, and it is apparent that many unaitciai corporations have had a very good year. In the banking group, Unions have been sold at £1.4 2s bd and £l4 3s, and are steady at the latter price. National of New Zealand have snown considerable improvement; sales have been made at £6 10s, and buyers now otter £6 17s with sellers asking £7. (The London quotation is £7 55.) National of Australasia continue to move upwards. Sales of £lO shares are recorded. at £lO 3s. There are rumours of the absorption of another banking company. New Zealand new issue have found buyers at 52s 6d, but latest quo-, tations are 52s 9d to 53s 3d. The old issue is wanted at 53s 9d, but sellers ask one shilling'more. Commercial of Australian new issue Have been transferred at 12s 3d. Bank of Australasia are firm and there are no sellers at £l3 10s. Tlio London exchange quote is £i4: 1 ■ ■• • - ■ ■-r, A demand for insurance scrip is met by a rise in prices. _ South British have beehisold at 46s 9d,- and more cam; be placed at that figure. Nationals have improved, and sellers now ask 745, but buyers’ offer is 7ls. The directors have declared an interim dividend of Is 3d per share, payable on May 16. New Zealimds havo no sellers' at3ls 6a;. sales. at, 3Js 9d. Standards, are firmly held, and 43s is asked for thefn.- Meat Preserving Companies’ scrip is wanted at increased "price. Refrigerating paid ups. are offered at a. guinea,'. with, sales at 20s 3d. The contribs. Have'been sold' at 10s 4d, and are wanted at 10s 3d,; bub a margin of sixpence prevents business. Hears are inquired for at 43s 6d without response from sellers. Canterbury Meats remain steady at last quotations. There has been a livelier toner in- the- market for .Brewery shares; £2 lias been paid for New Zealauds —the highest price received'Tor - them since flotation. The debentures realised 21s lOd. The shares fell to sellers .39s at. the close .of the week.. Mannings found a market at 38s; and' more are wanted at that figure with sellers asking another shilling. Wards ■are;’ a>: bit ■ ive&kof) ':s6s to r 57s;'» being- 1 buyers’ and sellers’ figures. In shipping, little has been done. Hiiddart Parker prefs. found new owners at sixpence premium; the ordinary, issue had fetordld business, at 43s '3d, and remain firiu'?at that. L Union pref. but there is nothing doing m that line. Howard Smiths are inquired for at 35s 3d; one shilling more is required. P. and O. deferred stock is very slow ot sale. , ; .. 'T. ;■ ’V

• In coal , mining ~ the tone is . slightly! better. Waipa Colleries were quoted at 24s Gd, the best price for some time past,. /Westport are 33s t 0,345, with no business. • ' J

In Loan and Agency, Dalgetys have ■moved.up- to buyers £ls-10s without a selling quotation. National Mortgage are easy, without buyers at 795. Goldsbiough Morts are wanted at 475, and are available at ninepenc© more. New Zealand Loan and Mercantile ordinary stock is not so firm, £93 being-offered, and £95 asked for it. Wright Stephenson’s ordinary are quoted at 29a, and prefs. at 17s- 3d without eliciting a bid. from buyers.;. Auckland Gas are slight--ly weaker—sales at 23s 4d and 23s 3d having been recorded. Christchurch have, a buyer at £7 12s; sellers '£7 155. :

There is a demand for'Timber Companies’ shares. Kauri Timber sold at 1 33s 6d. Bartholomew Timber at 21s 9d,and National Timber at 23s 9d, all denoting a firm market. Wilson’s Cement are. up to 32s 6d, and buyers of Milburns cannot be supplied at 33s 9d. . ...Drapery shares > are still- eagerly sought. . Sales of Beaths at, 33s 6d were followed by further inquiries at 32s 9d. Brown Ewings . prefs. brought sixpence premium, and 1 , there, is a keen inquirytor the ordinary at 28s 6d. D.I.C. ordinary are at 5s 3d preanium, and .the prefs, at sixpence over par, but sellei-s are not quoting. Milne and Choyce ordinary brought 245. -Woollen shares are brighter.. "Mosgiels are- wanted at £6 2s, but £6 asms asked. IvaiapoL ordinary are asked for at,l2s 9d, with' sellers holding off. Bruce may be purchased at 235. . Dominion Rubber are cum. dividend of 10 per cent., and' have buyers at 245, but another shilling is sellers’ idea of value. New Zealand Express Company are up to 20s without sellers. New Zealand Drugs are very firm at 655, and sellers of the new issue are asking Ills premium. 1 In mining there is,not much activity. Waihi's will pay a shilling dividend. Buyers arc offering 25s 6d, with sellers wanting 26s 3d. £25,000 has been set aside for development, recent operations in this direction . not. proving satisfactory. Taranaki Oils are wanted at 295, but sellers ask 30s: The‘’promoters of this venture are very sanguine. The bottom lias dropped out of the market, meantime, for Kawarau, which are offered at 235, but the best buyer is 3s less. Mount Lyells.are easier, 21s to 21s 3d. The same may be said of Electrolytic Zinc, the preference being 28s, and' the deferred 27s without; attracting buyers. Government Bonds show a slight improvement- Sellers are scarce and offers will need, to be increased , to-in-duce business. The issues of 1938 and 1939 -bonds have been sold at £96 15s and £96 17s fid, and P.O: Bonds, 1927,-. at £97 17s fid. Sdlcliers Jnscfibfd 1 Bonds reached £IOP 15s. Christchurch Tramways and Christchurch Drainage Board !)£ "per, cents. are.sought', at. £97,1; and North Canterbury . Hfispital are available at £97 10s. i'South : Canterbury. Rower Board 5J- per cent, aro selling at par.

DALGETY AND CO. ' Dalgety aiid Co., Ltd. have received advice from their London offico, to tlio effect that they ..kayo : declared -. an interim dividend of se.von shillings per share (being at the. rate of 14 per'cent, per annum) payable ou 15th May prox. . i '- DAIRY PRODUCE. Tho National Mortgage and Agency Co. report having received the. following cable from their London office; — Butter. —Steady; salted 164 s to 160 s, unsalted 170 sto 1725.- Cheese, weak; white and coloured 97s to 98s.