COMMERCIAL

Timaru Herald, Volume CXXV, Issue 17756, 17 September 1927, Page 19

COMMERCIAL

CHRISTCHURCH MARKETS

By TdloKraoli —Press Association. CHRISTCHURCH, Sept. 16. The potato market has varied during' the week. On Wednesday and yesterday, there was a pronounced hardening in values for whites, up to £5/10/- being paid for September deliveries, and £O/2/6 to £6/5/- for October. Up to £4/5/- on trucks was paid on Wednesday. To-day, however, the advance was lost and current sales are on the basis of £5/2/6 for prompts, £5/5/- for Septembers, and £6 for Octobers. The Kurow is due to sail to-morrow with 4000 sacks. Farmers are firm holders at present prices. A rather unexpected revival of the Sydney demand for oats has developed. The Waikouaiti is now on the way with a fair consignment, mostly Gartons, and the Karetu is due to load at southern ports with a larger cargo. This business has imparted a little life into a market that was excessively flat, and values as a result have improved slightly. For spread delivery December 3/3 5 to 3/4 is offering for A Gartons. B Gartons have improved slightly in sympathy, and are quoted at 2/11 to 3/-. Fowl wheat has also been fluctuating in value. It was very firm during mid-week, but slackened by up to 2d a bushel. The market is a shade firmer to-day. The uncertainty as to the effect of the new tariff is the main cause of the irregularity. There has been a slight steadying in the cocksfoot market. Danish is quoted at 97/6 per cwt., and local at 10 5/- f.o.b. Cowgrass is again meeting with inquiry from England, and some business has been done at 122/6 a cwt. f.0.b., or 130/- c.i.f. Home reports some weeks ago were to the effect that a good September might save, the cowgrass crop, but this month seems little better so far than its predecessors, and this has caused a revival of inquiry. Values to farmers are 9d to lOd, on trucks.

CHRISTCHURCH STOCK EXCHANGE. '' YESTERDAY’S QUOTATIONS. (Special to the “Herald.”) CHRISTCHURCH, Sept. 16. The quotations ruling on the Stock Exchange to-day were:— N.Z. Government Debentures—--45 per cent, inscr., 19 38, buyers £96/12/6,-sellers £96/5/-. 41 per cent, bonds, 1930, buyers £97/10/-, sellers £9B. 45 per cent, bonds, 1938, buyers £96/2/6. 5 per cent, inscr., 1929, buvers £9S/17/6. 5J per cent, inscr., 1933, buyers £IOO/12/6, sellers £lOl/5/-. 51 per cent, inscr., 193 6, buyers £IOO/12/6. Company Debentures —■ Gisborne Sheepfarmers, 75 per cent., 19 31, buyers £S4. Christchurch Gas, 55 per cent., 1934, sellers £IOO/10/-.

Banks— Adelaide, sellers £B/14/6. Australian Bank of Commerce, buvers £l/12/9, sellers £l/13/-. Australasia (cum. div.), buyers £l4/15/-. Commercial of Australia, buyers £l/7/11. Do. (pref.), buyers £6/16/G, sellers £6/18/-. Commercial of Sydney, buyers £23/12/6, sellers £24. E. S. and A. (Royal Bank issue), buyers £7, sellers £7/6/-. National of Australasia (£lO pd.), buyers £l7, sellers £l7/2/6. Do. (£5 paid), buyers £B/7/-, sellers £B/8/-. National of New Zealand, buyers £6/16/6, sellers £6/17/6. N.S. Wales, buyers £42/15/-, sellers £43/2/6. New Zealand, buyers £2/IS/2, sellers £2/IS/4. Union Bank of Australia, buyers £l4/14/-, sellers £l4/17/-.

Insurance —- National, buyers £3/16/6. South British, buyers £2/17/10, sellers £2/IS/3. Standard, buyers £3/0/G. Loan and Agency—■ Dalcetv and Co. (new), buyers £l2/1 S/6, sellers £l3/2/-. Croldsbrough Mort, buyers £2/4/6, sellers £2/4/6. Do. (new), buyers £2/3/6, sellers £2/4/-. National Mortgage, buyers £3/3/-. N.Z. and River Plate, buyers £l/6/9, sellers £l/S/-. Shipping—• Huddart Parker (cum. div.), buyers £2/7/-, sellers £2/7/7. Do. (pref. cum. div.), buyers £l/0/6, sellers £l/0/11. P. and O. Deferred Stock, buyers £262, sellers £274. Union (pref.), buyers £l. Frozen Meat —• Canterbury, buyers £7/5/-, sellers £S. N.Z. Refrigerating (£1 paid), buyers £l3/8/-, sellers £l3/10/-. Do. (contr.), buyers 6/6, sellers 6/7. Woollens —• Kaiapoi (17/- paid), buyers 7/6, sellers 10/-. Do. (pref.), buyers 10/-. Coal— Hikurangi (ord.), buyers 3/-. Do. (pref.), sellers 7/6. Westport, buyers £l/13/6. Stockton (ord.), buyers 1/3, sellers 1/7. Do. (pref.), buyers 2/10, sellers 4/-. Gas —• Ashburton, buyers £5/10/-, sellers £5/15/-. Christchurch (cum. rights), buyers £l/2/3, sellers £l/3/-. Do. (rights), buyers 7d, sellers Bd. Breweries —■ Monteith’s, sellers £l. Staples, buyers £l/16/-, sellers £l/17/3.

Cements —■ Wilson’s, buyers £l/15/9, sellers £l/16/3. Timber —• Kauri, sellers £l/5/-. Miscellaneous — Allied Motors, buyers 10/3, sellers 16/-. Beath and Co. (cum. div.), buyers £l/13/-, sellers £l/14/-. British Tobacco, buyers £2/15/9, sellers £2/16/2. Burns, Philp, buyers £l/15/3, sellers £l/16/-. Colonial Sugar, buyers £52, sellers £52/15/-. Dunlop Rubber (cum. div.), sellers £l/6/6. Electro Zinc (ord.), buyers £l/8/9, sellers £l/10/9.

Do. (pref.), buyers £l/10/3, sel lers £l/11/3. Henry Jones Co-op., seller; £l/15/0. Holden’s Motors, sellers £l/14/9. Hume Pipe (cum. dly.), seller; 18/-. Mason Strutters (14/- paid), buyers 14/-, sellers 14/3. Do. (pref.), buyers id/-, sellers 10/2. ■ N.Z. Farmers' Co-op. ; (Ist pref. cum. div.), buyers £2/18/ r , sellers £3/5/-. . ’ ■' Do. '65 per yers £75. N.Z. Guarantee Corpn., buyers 9/-, sellers 9/3. N.Z. Sugar of Milk (ex. div.), sellers £l/1/6. Quill Morris, buyers £l/1/-, sellers £l/2/-. Mining—- | Mount Lyell, buyers £l/6/4,'sellers £l/7/3. Waihi, buyers £l/1/6, sellers £l/3/-. Sales reported.—Commercial Bank of Australia, 27/10 (3 parcels), 2 7/11, 28'/-; Standard Insurance 60/-; N.Z;’ Refrigerating- (contr.), 6/6; Christchurch Gas (rights), 6d, 7d (14 parcels); N.Z. Breweries 44/4, 44/6 (3 parcels)'. '■ ’ Sales on: ’Change.— Commercial Bank of Australia .. 27/10; ..Union Bank £l4, £ls (2 parcels); Bank 6f New Zealand, 53/3; National. Bank of Australasia (£lO paid), £l7/1/(2 parcels); , N.Z. Refrigerating (contr.), 6/6; Christchurch Gas (rights),V7d (8-parcels); Quill Morris, 21/6; Beath and Co. (cu.m, div.), 31/6; British Tobacco, 55/6; Waihi, 22/6 (2 parcels). PROPERTY ON OFFER. At their land sale rooms yesterday, A. N. Oakey and Co., acting on instructions from the Registrar of the Supreme Court at Timaru, at the request of the mortgagee, submitted to public auction, a section consisting of approximately twenty-five perches, and all modern conveniences. There was a fair attendance of tho public, and bidding was fairly brisk, the property finally going to the mortgagee, for £SSO. WOOL SALES AT HOME. The Department of Agriculture has received the following cablegram dated 14th instant, from,the High Commissioner for New Zealand, London:— “Wool sales opened yesterday. Very large attendance of Home and Continental buyers, and good general competition. Slipe in keen demand. Compared with closing rates last series opening prices are.: Merino and fine crossbred par. to 5 per cent.; medium and coarse crossbred 5 per cent.; slipe generally 5 nor cent, dearer. There are 141,000 bales available for the series, of which 57,000 arc New Zealand, 61,000 Australian and 13,000 South American.”