COMMERCIAL.

Timaru Herald, Volume CXXIII, 14 June 1926, Page 5

COMMERCIAL.

REVIEW OF THE SHARE MARKET. There has been considerable activity on the Exchanges during the Aveek, notably in Auckland and Christchurch, 'the increase in prices of hank shares i noted last week was maintained, and sales were made at even higher .figures in some instances. Insurance scrip made a further advance. It is en- -, couraging to not© that coaJ-iMiung J shares seem in better demand than foi soma time past, and that some Inarches of industry, such as those engaged in manufacturing manures', are in favour, j It is to be regretted that the freezing . companies seem to be having not quite as good times as their : shareholders could wish for. The Home r.ifikets for meat. and ' wool ■ do' not' show a great I. deal of profit in these .ventures.' . In the banking division, New Zealand have been the.mediumiof many'transactions. The very satisfactory balance sheet-induced buyers to go to'62s 6d, at which price the demand was not • satisfied. National of New Zealand were quitted'at up to £7, and further buyers are willing to continue. Unions ave wanted at £lsr 3s= 6d, with sellers . cighteenpence better. Australasias are ■ more sought. after, but £l4 'l s 0(1 is - not sufficient-to’ tempt holders. National of Australasia ton pounds paid .up aye firmer—-£l7 15s is bid withoutbusimiss ; resulting; lor the five' pound issue £8 16s 6d does not tempt holders. South Wales keep well .up, and £44.15s is offered, with a seller at £45 2s 6d. . Commercial of - Australia' are rfirm . at last week’s prices, - with a -sale at ;jOs 9d. I*. aud 'O. Banking: Corporation is beginning to .attract- attention, hut £9 15s is not sufficient to induce' business. Royals aro inquired for and the four pound issue- changed hands at £7 4s. Tho pound shares aro worth between 36s and 3is.; -E.S.A. Banks keep their upward course, and are strong at £l7 17s 6d. A.B.C. Banks are wanted at 32s Od, but. 33s 6d is required. Comniercial of Sydney are very firm in the vicinity, of £26. Wostralian Banks sold freely at 57s 6d. The traffic in insurance- scrip continues, and at prices which aro satisfactory to sellers. South British jumped quickly to 61s 6d, and then receded to 60s. Standards rose to sales 57s 6d, with demand not satisfied. New Zealands maintained their last week s figure of 40s. Nationals changed hands at 79s 3d, and buyers and sellers are within threepence of that figure. Quoenslands are steady at 54s 3d. In the loan and agency group, Goldsbrough Morts were in steady demand at 49s 6d cum. div. National Mortgages are easy at 75s 6d. Dalgetys are not to be obtained at £l6. New Zealand Loan and Mercantile ordinary stock is inquired for at £96 10s, and the profs, at £SO. New Zealand and River Plate have steady inquiry at 225, but the market is bare. Wright Stephensons profs, are wanted at 17s. 3d, without response from sellers. Perpetual Trustees are strong ’ at ■ 52s 6d ex. div. Trustees Executors are offered at 60s,

t without buyers. ' • In shipping the, market is better. | Hitddart - Parkers'.-' ordinary sold, at ! 44s '9d' and are wanted at that price, with sellers at 455. P. and 0/ deferred stock is gradually improving;, and £250 is offered without result. ' Union Steam prefs. and Huddart Parker profs, are sought at a slight premium, without response from holders. Howard Smiths are improving steadily, and 33s 3d is offered, with' sellers .one shilling bettor. The, market for coal’shares is gradually hardening. Taupiris had several - transfers at 18s 9d. and there is further j inquiry about that price. Wostprirts I are very steady at 37s 6d. Stocktons

are coming more into favour. I 1 or the prefs. 2s 6ci is offered, but 4s 6d is wanted. Waipas are weaker, with sales down to 13s 6d. In gas shares, Christchurch had many transfers'-at' from 24s to 24s 3d, wiui iurtiier buyers about 24s Id. Asiiourtou are in request at four guineas. Timaiu are worth seven pounds, and Auckland contribs. changed hands up to 8s 7d. In refrigerating, New Zealand lie-

frigerating contrios. sold m several parcels at 8s 2d and 8s 3d. The puids are steady at about 17s 4d. Canterbury Meats are steady at £9 7s 6d buyers (£if 15s sellers^. Gears are easier about 38s 9d. , In woollens, there is a fairly keen demand for Kaiajioi. The. contributing 7s paid up rose during the week from 3s to 4s, at which price sales 1 wore made. The ordinary 17s paid and the prefs. aro wanted in the vicinity of 13s 6d. Mosgiels aro steady about .£6, and Wellington Woollen i prefs. and : ordinary command about l jIG ss. . I Breweries are not quite as active as I they were. Wards were sold at 41s, and . are steady at about that figure. Staples remain about 395, with a sale at twopence less. New Zealand Brewery debentures brought 26s 4d, and their shares are between 58s and 595. Timaru'-ffre not in demand at 1.6 s 6d. i New'Zealand Drugs, all issues, rose during: the week. The fully paids sold •at 70s, the contribs. are sought at ,12s‘ 6d premium, and the new issue fully. paid is in demand at three guineas. 'New Zealand Farmers’ I‘er--tiiisor are slightly easier, with sales at: 101 s 6d. Cements are steady. Wilsons sold at 34s 6d ex. div. ; Milbiii iis aro wanted at 325, without sellers -• quoting.' Rubbers seem to be on the move again. Dominion sold at 50s, anil'Now Zealand Malays are wanted at two guineas. Mining’ stock has been fairly active. Kawarans have eased, and a large number of traitsfcrs wore made at from 7s 6d to '7s Id. Nokomais arc coming into favour, and sales were mado up to 10s. St. Bathans are dull, and Is discount does not induce buyers. Alburnias remained in the vicinity of 5s 9d. Taranaki Oils are firm at 32s !)d. Mount Lyells arc selling freely at from 26s 3d to 26s 6d cum. div. Electrolytic Zinc prefs. range from 35s to 365. The ordinary arc about sixpence less. Waihis are round about 19s. Government Bonds are steady at last week’s prices. 1938 bonds sold at £96 15s: P.O. 1929 realised £9B ss, and the 54 per cents. 1933 brought i £99 -12 s 6d.