THE WEEK REVIEWED.

Auckland Star, Volume LIX, Issue 123, 26 May 1928, Page 4

THE WEEK REVIEWED.

BANKS IN GOOD DEMAND.

MORE SALES RECORDED,

SEVERAL LINES ADVANCE,

Busmen was good on 'Change during the past weeis and transactions were distributed over quite a number, of lines. I'he demand for shares in banking corporations continues strong, and in some instances advances were made by buyers. Sales occurred of Bank of New South Wales shares at £48 10/, and afterwards sellers asked 5/ advance upon that rate. Austra' lian Bank of Commerce firmed, buyers offering £1 15/3 towards the end of the week. Bank of Australasia shares advanced to buyers at £14 8/ yesterday afternoon, a rise of three shillings. The new issue also firmed, being wanted at £14 5/. Commercial Bank (ordinary issue) sold from £1 9/3 to £1 9/5, and English and Scottish Bank changed hands at eight guineas, after which an extra ninepence was paid. Slightly better prices were offered for National Bank of Australasia shares, £18 5/ being the quotation for ordinary and £9 2/ for contributing issue. National Bank of New Zealand shares rose the last couple of days, buyers offering £7 4/, but sellers wanted another shilling. A fair number of transactions have taken, place in Bank of New Zealand shares at £3, and then at £3 0/3. Union Bank pf Australia shares had sales at £14 17/6 this week. There were also inquiries for Bank of Adelaide shares at £9 5/, but no sellers quoted. Insurance shares had more attention this week. New Zealands sold at £2 1/9 and £2 2/, buyers still offering the latter price. A fair number of sales were made in South British Insurance at £3 1/, and at the third call yesterday no sellers quoted, but buyers offered £3 0/6. Business was also done in National Insurance at 15/6, at which rate more shares were offered, but buyers quoted 15/3. Goldsbrough, Mort shares firmed in price, sales being made up to £2 11/9, at which figure more could be placed. N.Z. Loan and Mercantile Agency ordinary stock were offered at £108 yesterday afternoon, and the steady buyer at £103 dropped out. A drop took place during the past few days ip N.Z. Farmers' Fertiliser shares, which were offered at £4 12/ at the third call yesterday.

Most coal shares are still popular. Pukemiro Collieries sold at £3 5/3 this week, and ordinary Hikurangi Coal had several transactions at 4/6, while the A preference sold at 7/6, and preference could be placed at 8/. Buyers now offer 3/ for ordinary Westport Stockton shares. Auckland Gas shares had sales up to £ 1 3/7 this week, and the 6% per cent debentures, 1935, changed hands at £102 10/. Sellers now ask £103 and buyers quote £102.

Shipping shares are not seeing much business just now, but £235 is offered for P. and O. Deferred Stock, ex dividend. Howard Smith are wanted at £1 8/6 and Devonport Ferry could be sold for £1 4/. Huddart, Parker Steam are asked for at £2 6/, but sellers want £2 7/6. Timber shares are still neglected, the only sale this week being in Kauri Timber at £1 1/.

Woollen company shares are receiving more attention. Sales were made of Wellington ordinary shares at £6 4/9 and of Kaiapoi ordinary issue at 10/. For Mosgiel Woollen shares £6 15/ is the buying quotation. N.Z. Breweries (debentures) had a number of transactions at £1 3/5 and a sale was reported yesterday of ordinary shares at £2 2/2. Transactions took plaee in both issues of Electrolytic Zince, £1 11/ being paid for ordinary shares and £1 12/9 for preference. Mount Lyell shares aTe firmer this week, business having been done from £1 12/9 to £1 13/4, and there were buyers left at the latter figure.

Several sales were reported of Kempthorne, Prosser Drug shares at £3 9/9, and now sellers ask £3 10/. Holden Motors were placed at £1 10/9, and for Perdriau Rubber shares £ 1 13/6 could be got., A sale was made this week of Morris, Hedstrom, Ltd., at £11/, and there a»-e still buyers at £1. Wilsons Cement firmed a little, sales being made at £1 19/ and £1 19/2. Sanford, Ltd., ordinary shares had business at £1, and at the last call yesterday neither issue had sellers.

Taranaki Oil shares moved up and down since I?wt report. Sales were made up to 10/7 and afterwards down to 9/. Waihi shares sold at 11/5, and are now wanted at a penny less. Other mining shares are neglected.

Several 6 per cent debentures are wanted at par, and in the case of Mount Eden borough that rate is offered for the 5% per cent issue, while the 6 per cent have buyers at £101. Auckland Harbour Board and also City shi per cent debentures had buyers at £98, with no quoted sellers. Sales were made this week of Inscribed 5Y* per cent War Loan. 1941. at £99, Government 5V£ per cent Inscribed Loan, 1936. at £101, and the 5Yi. per cent. 1932, at £98 10/.