THE MONEY MARKET

Ashburton Guardian, Volume 50, Issue 149, 5 April 1930, Page 9

THE MONEY MARKET

ANOTHER QUIET PERIOD. SLIGHTLY HIGHER QUOTATIONS THE WEEK ON 'CHANGE. (Written for the "Guardian" by "Investor.") Another quiet -week has beer recorded on the Stock Exchanges throughout the Dominion. Christ church is still the most active centre with Auckland following closely, bul neither of them can boast very con siderable turnovers in stocks, while Dunedin and Wellington have seer business drop to a point where it is at very small proportions indeed There seems to be little indication yel of any improvement so far as the numbers of sales recorded is concerned. The encouraging feature is thai stocks, on the whole, are keeping up well, and the tendency over all during , the past week has been, if anything, toward slightly higher prices. Foi most of the more popular stocks there has been no lack of inquiries, but they have seldom led to business. The Government section has had a very poor week, and, so far as Christchurch is concerned, the sheet is blank. Auckland and Wellington had dealings in 4i oer cent. Bonds, 1939, the price in Auckland being £97 15s and m Wellington £97 10s. For 5% per cent. Bonds, 1933, £99 5s was paid in Wei lington, and the same price saw business done in Auckland and Dunedm in 5£ per cent. Inscribed, 1936. Banking and Insurance; The banking section is still attracting the bulk of the business, but even here the transactions are confined to comparatively few issues. Commercials of Australia have been most popular this week. Business has been done every day in Christchurch within the very narrow price range represented by 21s lid and 225. In Auckland the best price paid was 22s 2d and the lowest 21s lid. In Wellington 22s was paid and in Dunedin 21s lid and 225. (Sales of Australia of Commerce have been made in Christchurch, Auckland and Wellington. In Christchurch 25s

3d and 25s 4d has been paid and in Auckland and Wellington 25s 6d, the latter figure representing the price that was being asked by sellers in Christchurch on Saturday last. The £lO paid issue of National of Australia are firm, with a sale in Christchurch at £ls and. sales in Auckland at £l4 18s"and £l4 19s. In Christchurch on Saturday last the quotes of buyers and selkrs were respectively £l4 17s 6d and £l4 19s 6d, while on Thursday they had improved to £ls and £ls 4s. For the £5 paid issue of the same bank £7 7s 6d was paid in Christchurch. Sales of Bank of New South Wales were recorded in Auckland at £39 and £39 2s 6d. For Bank of New Zealand there was a stronger market. Sales were made in Christchurch at 57s 3d and 57s 4d, in Auckland at 57s 3d and 57s 6d, in Wellington at 57s and in Dunedin at 57s and 57s 3d. The insurance group had a week of small business. For Nationals 14s 3d was paid in Christchurch and Dunedin, • and for New Zealands 43s 9d was paid in Auckland. In the loan and agencygroup the Imsiness was also scant. Goldsbrough'Morts having the bulk of it. For these shares 32s 2d and 32s 3d was paid in Christchurch. in Auckland 32s 3d was paid and iff Wellington 325. The only other issue in the group to have business was United Building, which sold in Christchurch at 14s 9d. The shipping group also was again largely neglected. Twenty shillings was paid in Auckland for Huddart Parkers prefs. and 20s in the same centre for United Steam prefs. The Breweries Group. In the breweries group New Zealands had the bulk of the business. This week these shares were quoted exdividend and ex bonus accretion. The shares from the debenture conversion are not entitled to the dividend on April 14, and until that date there will'be two distinct classes of shares. The position is that former holders oi the debentures having given notice oi their acceptahce of the company's offer, made last July, are now registered as shareholders, but do not participate in the interim dividend due on April 14. Holders of ordinary shares up to March 31 have additional bonus shai-es allotted to them in the proportion of one new share for every two "formerly held. On the new basis sales were made in Christchurch at 51s 4d and 51s 6d, in Auckland at 51s 9c3 and in Wellington at 51s 6d. Foi Toohey's 24s 6d was paid in Christchurch and for Staples 50s 3d in the same centre. No other sales were recorded. In the woollen group there was a single sale, an odd lot of the 7s paid issue of Kaiapois changj;;g N hands ir Christchurch at 3s 6d. There were tw< sales of coals, 3s Id being paid foi Renown prefs. and 15s for the ordinaries, both in Auckland. Auckland Gas was the only issue to have business in the gas section. For the ordinaries 23s 9d was paid in Christchurch and 23s 8d in Auckland, aire for the nrefs. 17s and 17s Id was paic in Auckland. The miscellaneous grouj had: a poor week. For Dunlop Rubbers 17s 9d was paid in Christchurch anc for British Tobaccos the price in the same centre ranged from 41s 3d to 41s 6d. 'ln Auckland 41s 6d was paid these transactions beinc on the basi; of ex dividend. In Wellington las Saturday 42s 3d was paid on a cun div. basis. Other sales in the sectioi were Beath and Co. 27s 9d (Christ church), National Electric 10s 6( (Wellington). Newton King, nref., 11 7d (Auckland). Farmers' Trading 8s 7< (Auckland). Milburn Limo and Cemen 34s (Dunedin). and Paper Mills 20 (Dunedin and Auckland). The Mining Section. The mining section also had a weel of little business. Mount Lyell sold ii Christchurch at 35s and 35s 4d, am in Auckland at 355. For Wajhis 17.' was paid in Auckland: for Electrolytn Zinc ordinaries 27s in Christchurch am for the prefs. 27s 9d in the same centre. There was a sale of Alburnii in Auckland at 4d'. and. three parcel: of Cornish Point (Is paid) change* hands in Christchurch at lOd. Othei issues were neglected.