COMMERCIAL

Timaru Herald, Volume CXXV, Issue 18204, 4 March 1929, Page 10

COMMERCIAL

LONDON MEAT MARKET. (Unlt.d Press Aeeocietion—Bj Eleotrle Telecreph—Copyright.) (Received March 3, 5.5 p.m.) LONDON, March 2. Sheep.—Canterbury, heavy 5 3-8 d, ■ North Island, light 63d, medium 6Jd. Lambs. —Canterbury, light 9 id, medium 9 3-Bd, heavy 91d, seconds 8 3d. Other seleeteds, light 9 id, medium 9 3-Bd. North Island, firsts medium 9d, seconds 8 5-Bd. Australians, first Victorian 8 3-l(id, others 7 1-16 d, seconds Victorian 8 3d, thirds 7 3d. Argentine, firsts medium 73d. Chilled beef—Argentine fores 4 3d. hinds 6Jd. FAT STOCK PRICES. Bf Telegraph —Press Association. WELLINGTON, March 2. Tho New Zealand Meat Producers’ Board advises that the following prices were ottered for stock for export at February 28th Hawke's Bay.—Prime woolly, 361 b and under 9d, 37 to 421 b 81 d, 431 b and over 8d; second quality lambs Bd. Wellington.—Same as Hawke’s Bay. Canterbury.—Prime woolly lamb, 361 b and under 9£d, 37 to 421 b B£d, 43ib and over Bj£d. Southland. —Prime woolly lamb, 361 b and under 9fd, 37 to 421 b BJd, 431 b and over B|d; second quality lamb, 361 b and under Bid, over 361 b 7£d. HOME MARKETS. (Unitad Preo* Association —By EUctrU -,?«lecraph —Copyright.) LONDON, February 28. Flour is slow; Australian ex store 35s 9d. Oats, peas and beans are steady. METALS. Copper, standard, £B2 13s lid £B3 13s lid. Electrolytic—£B 10s and £B9 10s; wire bars'£B9 10s. Lead, spot and forward, £23 17s 6d. Spelter—£26 7s 6d and £26 8s 9d. Tin—£l22 13s 9d. Silver, 2(sid and 28 3-16 d. LONDON, February 28. Cargoes have not improved, generally 3d lower. Parcels are receivin'? no attention. Maniatobas dropped 3d to 9d and Plates 3d. Liverpool futures—March 8s May 9s gel, July 9s id. Spot trade is quiet, with an easier tendency; Australian ex ship 50s. SHARE MARKET REVIEW. A fair volume of buisness has been recorded on the affiliated exchanges during the•past week, but transactions have been confined to industrial stocks, and little, business has been reported in gilt-edged securities. N.Z. Government stocks and bonds remained firm with strong buyers and few sellers, sales being reported of 4 £ per cent. 19 38 at £lO 0 and sft inscribed 1936 at £lOl 2s 6d. There have been free quotations of local body and company debentures, and New Zealand Brewery 10 per cent, debentures eased to buyers £1 6s Id, sellers £1 6s sd. There has not been an active demand for Bank shares, and prices show a slight easing, in sympathy with Australian quotations. Adelaides were easier, buyers £lO 3s, selors £lc 5s Gd; last week £lO 4s 6d .nd £lO 7s Gd. Australian Bank of Commerce weakened slightly to £1 14s 9d, and £1 14s lid. Bank of Australasia are quoted at last week’s prices of £l4 19s, and £ls 2s 6d, with sales at £ls Is and £ls and £ls Is 6d (cum div.). Commercial of Australia are weaker at £1 8s 10. £1 9s Id with business reported at , £1 9s Id and £1 9s; at this price the j return per cent, is £5 3s 4d (divi- ! (lends paid February and August). ; Commercial of Sydney were quoted ; at £2 7 7s Gd and £27 15s, while E.S. | □nd As. moved back a few points to £8 15s 6d, £S 17s 6d. Na.ional of Australasia show a weakening tendency with buyers of the £5 paid shares at £9 12s. sellers at £9 13s; previous week buyers £9 13s, sellers £9 14s. National Bank N.Z. show little variation at £3 3s 6d, £3 3s 9d. while Union Banks were firm at £ls Ss, £ls 9s 6(1. Bank of New South Wales received little - attention and the latest quotation was seller £sl, ex dividend. The market for insurance shares was inactive, with sales reported in National Insurance at 16/3, and New Zealand at 4 7/-. Queensland Insurance firmed to buyers £3 7s 7d, seller £3 8s 9d, and Mercantile Mutual held the recent rise to 34/- (12 months ago these shares were sold at 26/9). 1 In the Loan and Agency section business was limited. Goldsborough Morts. weakened further to £2 12s 3d, £2 12s Cd with sales at 5 3/-, 52/9, 52/S and 52/6. There were sales in Melbourne three weeks ago at 4 4/3, but no doubt the unsettled industrial outlook has .affected the market. N.Z. Guarantee Corp. were firm at 9/1, 9/2. In the frozen meat section there was a sale of N.Z. Refrigerating (£1 paid) at 16/3, and closing quotations were 16/3, 16/9 for the £1 paid, and ; £7 7s 8d for the contributing. Woollens, Coal, Gas.—Buyers of j the Kaiapois increased their offers a : point to 14/7 for the 7/- paid, and ! buyers of the 17/- paid quoted 14/6. Westports firmer again this week with buyers £1 -2s sd, sellers £1 12s 9cl (£1 9s 9d, £1 10s 2nd February). Grey Valley Colleriea were listed at buyer £1 0s 9d, seller £1 3s. There were sales of Auckland Gas at 24/3 and 24/9. Christchurch Gas were stronger with dealings at 26/3 quotations 26/-, 26/5 last week 25/S, 26/2. In the brewery section there is little to report beyond dealings in N.Z. breweries at 57/9, 58/- and four sales of Staples at 4 4/-. In the miscellaneous section ML Lyells and Dunlops have received most attention. Last week Mt. Lyells were quoted at 42/G, 42/9, and this week there have been several sales at from 4 3/3 to 4 4/-, the market closing at 44/-, 44/2. If the price of copper remains at the present level of £7 8 the Mt. Lycll Co. profits should be considerably increased this year. The market for Dunlop Rubbers was active with sales at 28/6, 29/-, against 27/5, 27/S a week ago. British Tobaccos were weaker, with sales at 4S/9, closing buyers 4 8/4. sellers 4 9/. New Zealand Farmers’ Co-op. 6J per cent. Stock sold at £9l. Blenheim Oil Wells were quoted ex rights at £2 12s. £3 19s, with* a . al3 at £3. Taranaki Oils at 4/S, 5/7. Wilson's Cement attracted buyers at 41/- and 4 0/6, market closing 6d on either side. Victoria Nyanza Sugars ex dividend of 1/- weakened to business at £2 2s Id. Dominion Rubbers were firm at

35/-, 3 7/6 with a sale at 35/-, Malays buyers 27/6 no sellers. N.Z. Farmers’ Fertilisers were sold at £1 Os 6d. In the mining section Maliakipawas were active with several sales at 1/5 and l/4£. Waihis seemed slightly weaker at 13/5, 13/8. Other stocks held at current quotations. COMPANY REGISTRATION. The latest issue of the Mercantile Gazette of New Zealand contains the following particulars of a company registration of local interest—Timaru Investment Ltd., registered as a private company. February 14, 19 29, office 155 Hereford Street, Christchurch. Capital £2500 into 7500 shares of £1 each. Subscribers: R. D. Benjamin 7000. E. Benjamin 500. Objects, to purchase land, and general.