COMMERCIAL.

Timaru Herald, Volume CXXIII, 3 May 1926, Page 10

COMMERCIAL.

LONDON MOOT. SALES. fiy Cable—Press Association—Copyright. Australian and N.Z. A'N*.r>eiation, (Received May 2. 5.5 p.m.) LONDON, -May 1. At the wool sales there was an average selection of all classes, with good competition. Ernes were unchanged. The New Zealand clip Tahekc brought tod (to])), ltd (average). LONDON SALES. By O.ble —Press Association —Copyright. Australian ami N.Z. Clr.bie As.sOi:m:ioa. LONDON. April 20. At the wool sales there was an average .selection. Mci-in.-is wore in limited supply. For crossbreds competition was wel. maintained, ami paces were unchanged. New Zealand's I, amtbridge, top 204tl ; average 19Jd ; cloudy range lOim, and lSd. Tiie Bradford tops market showed little response to the London firm ness, and new i nsiuess is smad : O-I’.s 47&i1, GO'S 4-Id, 50’s 32d, 50’s 2nd, 46’s 2Hd, 40’s 20’d.

REVIEW OF THE SHARE MARKET. The business on the Exchanges dtlTing the past week was not as large as usual in investment shares, blit the mining market, especially in Auckland, was responsible for a mild boom. As is frequently the case with gold-mining scrip, the rapid rise is apt to be succeeded by as quick a fail. So far as can lie ascertained, the prospects of two or three of the mining propositions in Auckland do not warrant rash -.speculation. The indications are, favourable, hut as mining has reached a .stage when science aids it in forecasting results, it does not pay the prudent investor to buy scrip unti. something definite is known as to what is likely to be the future of the mine. This can only he told by further penetration of the ground. It is to be Imped that the sanguine anticipations of the promoters of Auckland companies will he realised, because nothing sends a district so quickly on the road to prosperity as a profitable ’go d mine. In the hanking group, New Zcalands moved a little further upwards. Sales were made up to 60s 9d, at which figure shares are steady. National of New Zealand were at the same figure as previously, .66 los, and are firm in that neighbourhood. National of Australasia have declared a dividend of ]() per cent, per annum, and added to their reserves. Sales of contributing took place at .69, and the ten pound issue is wanted at double that money. Commercial of Australia were quitted at his, with further buyers at that price. Unions are still selling ireedy at £ls Is, with buyers and sellers very close to Unit quote. New Soutli Wales are firm at £J I 15s to -615 2s 6d. Westraiian Ranks rose a little, and were transferred at 575. E.S.A. Banks cum.div. changed hands at £7 17s, and the demand is still keen. Victorias have jumped to £8 7s buyers, and 68 10s 6d seders for ordinary. A.B.C. I Banks remain unchanged. Commercial

j of Sydney are very firm, and £26 does | not tempt sellers. _ I Insurance scrip is still keenly sought j after, but is difficult to get even at ; advanced prices. New Zealand have j been sold up to 39s 3d. South British j ex div. changed hands at up to 565, ; and are available at 56s 3d. An offer | to buy Standards at 52s 6d failed to j receive a reply. Nationals are cum. div. of Is 3d per share payable on May 18th. and can be bought about 80s. i Queenslands are from 52s to 52s 9d. Ralgetys are a little stronger. A seven per cent, dividend is payable on Mav ISth, and shares are wanted at, .616'3s Gd. Goldshrough Morts had a few sales at up to -ISs 7d. with further buyers at that price, and sellers asking a penny more. National .Mortgages arc to he had at 735, with buyers at 71s 6d lor London Begistcr. New Zealand and River Plate are asked for at 22s 9(1, without sellers quoting. Loan and Mercantile ordinary | stock is up to £96 buyers, with a seller asking £2 more. The only transactions in moat preserving are in New Zealand Relrigerating contributing, whielr have been transferred at 8s 2d and Ss 3d. r l ho

j paid ups are irom its to lis Gd. C an- ■ terburv Moats arc from £lO 2s Gd to .CIO 15s. Wellington Meats have . buyers at 10s, sellers 265, for the five 1 pound shares. j Shipping shares are not m great demand. Howard Smiths had sales at 32s 3d, and are steadv at that price. liuddart Parker ordinary are slightly easier—44s to 44s 9d. The profs, are wanted at sixpence premium. Union Steam 51 per cent, prels. are ■ asked for at par, but sellers are not responding. P. ami O. deferred stock is rather stronger, and has a buyer at £231. and a seller at £241. ; Coal-mining stock continues slowly to improve. B estnorts wore sold at30s Id, and have buyers at a shade ! better, and a seller at 365. 3d. Stocktons are wanted at 2s for ordinary, and 2s Del for profs., without sellers. New Zealand Breweries registered several transfers at from 57s Gd to 58s, and can still be bought between those I prices. The debentures are stronger, ! and 26s 3d is ollercd for them ; sellers 20s sd. Wards were quitted at 41s. Other companies are slightly easier than during the, previous week. Auckland Gas are firmer; 23s 9d was paid. Christchurch Gas. sold for 245. Timaru had a side at £7, and buyers are ofiering £6 .15s (sellers £7" Is). Kaiapoi Woollens are on the upward I grade. For ordinary 13s is offered, I and for profs, buyers are willing to give slightly more, but none are on the market at those figures. Mosgiels are wanted at £6, without response from sellers. Bruce are ofiered at 235. but the best buyer is two shillings Foss. New Zealand Drugs are very steady. For the fu'ly paids 68s is offered, and for the contribs. 60s, without attracting a selling quotation. New Zealand Farmers’ Fertiliser have

boon sold at par. The lower prior of rubber lias brought, a slight casino in Dominions, which are from 51s to oos. Finlays are witlioiit buyers at 18x. Wilson’s Cement have been sold at 35s 3(1, and .Milburns are quiet at lids. There has been considerable activity in mining scrip, due largely to the find of p;old in the A'buniia mine. Shares rose from Is fid to 12s (id, and fell at 6s ,‘Sd, rising again to Bs. Several thousand were sold at these prices. New Waitohi also rose from 10Ad to Is 9pl, and Aloanntairi changed hands at 2s Od. Kawarau have boon selling freely at up to 7s 3d. Wnihi have risen, and sold at 20s Gd. Taranaki Oils firmed slightly, and sold at 11s !hl. Mount Lyells brought 25s Gd. St. Bathans are not in demand at par. Electrolytic Zinc are steady at last quotations. Government debentures are a little stronger. !9dß and I!'G9 lour and ahalf per cents. brought £96 12s Gd. Soldiers Bonds are wanted at par. and Postal Bonds at £9H 10s, without sellers. THE PROSPECTS OF ALBURNTA MINE. The mining commimitv of Auckland is much excited over the locating ol a gold-lrearmg reef in the Albumin mine. A visit to the yjjno dise'osed a 15-inch ribbon of good looking free quartz ■ carrying good gold. This is considered to be an offshoot of a rich gold reef. and it is on this .that speculators are gambling. The results actually in sight are inconsiderable. Gold has been found in a place where little has been obtained for many years, and the discovery looks promising. Onlv by deve’opment can it be known whether there is a future in store for this mine.

f'HRT ILI SEP CO AIP ANY. By Telegraph—Press Association. AUCKLAND, April 80. The report of the directors of the New ’Zealand T'armeis’ Fertiliser Company, to be presented to the annual meeting of the Company on June 2., states that the net profit for the year ended Alarvh 31. wa s £27,155 lls lOd. 'This figure, together with the balance of £7192 15s lid brought forward from last year, makes a total of £31.318 10s 9d. to be dealt with. a‘ (-nr anpronriatinc £70(10 f°r the writing down of rights and concessions account, there remains £27,318 10s 9d available for distribution, and the directors recommend the payment of a dividend at the rate of 71 per cent., absorbing £19.619 12s Gd, and that the balance of £7698 18s Jd should be carried forward to next year s account.

“TATTERSALL\S” REPORT. tflie horse market on Saturday was quiet, with a poor attendance. Only a lew harness horses came forward. 'There were a few inquiries lor draughts, which the C.E.C.A. were unable to supply.

RABBITS.KIN SALE. Wright, Stephenson and Co. report a most satisfactory sale last week, competition being exceptionally keen for all classes of skins. Prices for Into autumns and incoming winters advanced 3d to Gd per lb, whilst other sorts advanced 2d per lb oil last sale rates. Incoming winters realised £6 to £G 5s per hundred, and late autumns tip to £5 to £5 os per hundred. It is our opinion that when the full winter skins come on the market later on, very high prices will be paid. We quote:—.lncoming winters, 75d to 79d ; iate autumns, GCd to 72d; autumns, old to 58d ; early autumns, 13d to 52d ; prime racks, 10(1 to 13d: light racks, 38d to Kid; summers, 31-cl to 3Cd ; small .summers, 32d to 35d; runners, 2nd to 27d; autumns (bloodstained), !8d to odd; summers (bloodstained), 32d to