COMMERCIAL.

Timaru Herald, Volume CXXIII, 21 December 1925, Page 10

COMMERCIAL.

AUSTRALIAN WOOL SALES. By Cable—Press Association—Copyright. Australian and N.Z. Cable Association. BRISBANE, December 19. Th e final series of wool sales for the year closed with good competition but with heavy withdrawals. The market closed 10 to 15 per cent, below the November sales. ADELAIDE SALE. By Cable—Press Association—Copyright <..iln.iu <• ’ .V-. • a<. ; " ADELAIDE, December 19. The wool sales closed witli good competition and clearances. The market for best fiececs was 5 per cent., and for ordinary top-making : lines 2£ per Cent lower than at the previous sales. Pieces and oddments were unaltered. PRICES FOR FAT STOCK. NORTH ISLAND QUOTATIONS. By Telegraph—Press Association. WELLINGTON, December 19. The New Zealand Meat Producers’ Board advises that the following prices were being offered at 17th December for fat stock ior export. Auckland. —Wethers, 561bs and under ojd, second quality 4|d; ewes, 56lbs and under 4d; prime woolly lambs, 361bs and under BJd, 37 to 421bs Bd, 431bs and over 7pi; second quality Bd. Poverty Bay.—Wethers, 561bs and under sid; prime woolly lambs, 36lbs and under 8-£d, 37 to 421bs Bd, 431bs and over 7d, second quality 7pl. Hawke’s Bay. —Wethers,- 561bs and under 6d, 57 to 641bs 5-Jd, second quality sd; ewes 641bs and under 4d; prime woolly lambs 361b.s and under 9pl, 37 to 421bs Bd, second quality 9d. Wellington.— Wethers 561bs and under 6£d, 57 to 641bs s£d, second quality 5Jd; ewes, 561bs and under 4id, 57 to 641bs 4d; prime woolly lambs, 361bs and under 9pl, 37 to 421bs Bjd, 43lbs and over Bd, second quality 361bs and under 9d, over 361bs Bd. REVIEW OF THE SHARE MARKET.

The business, on the exchanges during the week was not as great as usual, but there was little variation in the prices obtained for- the mast of the prices obtained for the most of the position as the most attractive investment for the man who wishes something that is safe arid has a chance of, increasing in value. Insurance companies’ scrip is still keenly sought after, but at not quite such high prices as were lately ruling. The magnitude of the reserves held by .these corporations induces-the .hope that at no distant date the shareholder will participate in a distribution. The refrigerating companies, whose reports have lately been issued, have had a very, trying year, and some have already notified their clients that they cannot .continue. It is to bo hoped tliat those operating this year will be successful, for failure would touch many sections of the community. It is pleasing to note the continued success of the Gear, Company. Besides distributing £46O;OO0 of Gov-, eminent - bonds to its shareholders l — to the paid-up Capital—the directors have declared a dividend and bonus of ten per cent. In the banking group, New Zealands have been transferred at 56s 9d to 56s lid, ex div., and sellers are on the market at the former figures, without response from buyers. National of New Zealand have risen to £6 17s, at which price mote are t wanted, but the seller asks' £7. National- of Australia are firm at £8 11s 6d, sellers requiring half.-a-crown, niore. .for the five pound •issue.' The ten pouiid JsHares. are in request at £l7l ‘ Unions are slightly easier, and have been sold at up to £l4 19s; they are steady in that neighbourhood. Australasias maintain their price, and have been quitted at £l4 3s 6d. Commercial of Australia were sold at 335, and there are buyers waiting at 32s 9d. Commercial of Sydney are steady at £25 ss. New South Wales reached £43, and buyers are offering £42 10s, without result. Royals are not being dealt in to any extent, and . are without buyers at 355. On the London Exchange, Australasias are. quoted at £l3 12s 6d, New South Wales £4l os, Unions £14.155, National £6 17s 6d. New Zealand Loan and Mercantile deferred and ordinary stock after the balance was £73 10s, arid £99 in London. Little is being done in loan and agency scrip.' Dalgety are inquired for at £ls 10s, but holders are not quoting. Goldsbrougli Marts are ex div., and 46s is offered (47s is wanted). National Mortgages' are on the market unsought , ait 78s. Wright- Stephenson ordinary are wanted at 26s 6d, and* the prefs at 17s, without selling offers. Perpetual Trustees, at 50s, and Trustees Executors, at 58s, are unobtainable. The spurt that took place a month ago in insurance shares has eased. New Zealands can now be had at 37s 6d,. buyers threepence less, sales 375. South British are on the market at 555, without buyers (late sales 535). Nationals arc* easy at 79 6d. Standards are very firm at 48s 6d, without sellers. Queenslands are offered at 52s 6d, with no buying quote. There are few transactions in shipping. Huddart Parkers maintain their

price at 445. Howard Smiths havo jumped to 35s buyers, sellers a shilling more. Union Steam profs, have been sold at sixpence premium. Breweries have not been quite so freely sold .as during the past few weeks. Brices have been lower, and the demand not,, so brisk. Mannings have been sold down to 41s 9d, at which figure more are asked for, but another sixpence is wanted. Staples eased to 41s 3d, and can be had at 41s, buyers offering 40s 9d. Wards are not attracting buyers at 81s 6d. Hew Zealands sold for 60s, and can bo bought for a trifle less. Crowns aro wanted at 18s. Timaru Breweries aro inquired for at 16s 3d, but sellers are reticent. New Zealand Brewery debentures remain at 255.

Meat preserving companies, with few exceptions, have had a bad year, and their shares show the effects. New Zealand Refrigerating contribs. have been sold down to 7s, the lowest point they havo touched. They afterwards rose to 7s 6d. Wellington Meats £5 paid up are offered at 30s, without takers. Canterbury Meats are wanted as £lO, but one pound more is asked. Gears are very steady, in the vicinity of 40s, ox div. Coal mining attracts little attention; 31s 10s was offered for Westport, but 32s is the lowest seller. Stockton ordinary are in demand at 2s, but sellers ask 3s. Auckland Gas paids realised 23s 3d. Ashburton are up a little; 90s is offered, but it takes 95s to buy them. Christchurch are in request at £7 10s 6d, with a seller eighteenpence higher. limaru are slow of sale at £7 7s 6d. Rubbers retain the high figures they had reached; 63s 6d and 62s was realised for Dominions, with buyers uiisupplied. New Zealand Malays paid a dividend of 2s on the ordinary’ issue on Bth inst. A sale was made at 53s 6d, and that price is still oftered without avail. Wilson’s Cement sold at 34s 6d, and they are firm at that price. About a shilling'less is the value of Milburns., There is little inquiry for woollens. Kaiapoi ordinary are wanted at 9s, and Wellington Woollen at £6, without sellers. Bruce can be got at 225, but the best bid is Is 6d less. New Zealand Paper Mills have been quitted at 21s 6d. New Zealand Milk Products are offered at 3.35, but 31s. is buyers’ idea of values. New Zealand Sugar of Milk are up t'o 27s buyers; sellers 30s. , , There is not a very active market for mining scrip. Large numbers of Eawaraus have been sold at about bs premium, with a rising market to 6s id. Blacks Gold Mining realised 4s premium Wailiis remained steady at 23s 6d. Electrolytic zinc prefs. keep up to 335, deferred 31s 6d. Wailu Grand Junction are wanted at 9d. Government bonds are stationary; 1927 five per cents, realised £97 XUs; 1938 four, and a half per cent, were bought for £96 7s 6d and £96 os. Soldiers’ ' bonds aro wanted at 10s discount; sellers par. Local body debentures are not very active. South Canterbury Power Board 5;,- per cents, sold at par.

“SUN” NEWSPAPERS, LIMITED. This company formed to acquire' the “Sun” in Christchurch, and to publish another evening newspaper in Auckland, was registered on the 16th inst. It was announced that the minimum subscription of £75,000 had been exceeded. It was decided to acquiio suitable premises, and order abroad the necessary printing plant required.

WARD AND CO., LTD. The directors of Ward and Co., brewers, Christchurch, have addressed a circular letter to shareholders, .putting before tliem a scheme for distribution of assets, representing a portion of accumulated profits. It is proposed .'that out of tlie accumulated profits there should be distributed amongst ■shareholders 16,638 shares liekl by the company in New Zealand Breueiies, Ltd., in the proportion of one share tor every six held by each member of tlm company; that out o.f. the company s accumulated profits there be distributed amongst shareholders £l‘ in cash per share-, by the realisation of sufficient of the holding of New Zealand 4* per cent, tax free Inscribed Stock; that the capital of the company be reduced from £IOO,OOO divided into 100,000 shares of £1 each, fully paid up, to £50,0u0, dividend into 100,000 shares of 10s each, 'fully‘paid. Although the company has ceased operations as o browing concern, having sold that portion of its business and tlie goodwill thereof to New Zealand Breweries, L #l. , the directors state that they are of opinion, after maturo consideration, that it would be imprudent at present for the company, to go into voluntary liquidation with the object of winding up .its affairs, as there are contracts and obligations which the company has undertaken and contingencies to provide for, which it will take some years to complete arid satisfy, and for this purpose they thirik it would be prudent for the company to retain for the present its corporate existence, in order to deal with circumstances as they arise.