THE WEEK REVIEWED.

Auckland Star, Volume LIX, Issue 249, 20 October 1928, Page 4

THE WEEK REVIEWED.

GOAL SHARES POPULAR.

BANKING STOCKS STEADY.

MINING SHARES WEAK.

A less volume of business was recorded on 'Change during the past week, but generally speaking values all round were well maintained. Several lines have now reached prices at which the rate of interest returnable is nearer four than five per cent.

New Zealand Insurance shares sold at £2 5/6 this week, and for National Insurance 16/4 was paid. For South British' buyers offered £3 3/ yesterday. N.Z. Breweries sold during the week at £2 14/, and at the third call yesterday an additional threepence was offered, but there were no sellers. Woollen shares have bad steady inquiry all round, but the absence of selling quotations does away with much chance of sales being made.

Coal shares are one of the popular lines just now. Some months ago there was a drop in the price of shares in Renown Collieries, but that has now been more than recovered. Sales took place this week at 15/ and 15/3, then 16/ was paid yesterday, and later 16/3 was offered. Several sales took place of shares in the Pukemiro Collieries at £3 9/, and sellers now are willing to accept sixpence above that price. Hikurangi Collieries are firmer as far as the preference issues are concerned. Up to 10/6 was paid for the preference Hikurangi, which is sixpence above par. The A preference shares also firmed to buyers at 9/, while ordinary issue changed hands at 5/7. »

Business was done in shares in Burns, Philp, Ltd., at £2/4/3, and for Australian Glass buyers offered £2 5/3, but there are no sellers. Farmers' Auctioneering ordinary shares again sold at £3 5/, and buyers steadily offer £116 for N.Z. Loan and Mercantile Agency ordinary stock. Wilsons Cement shares again had transactions at £1 19/3, and latterly sellers have not quoted, but buyero steadily offer £i 19/. In timber shares the only inquiry this week was foe Ley land and O'Briens at £1 14/3. Auckland Gas shares had further sales at £1 3/2, and Hayward's Pictures had several transactions at £1 1/. Sahford, Ltd., ordinary shares changed hands at 18/. N.Z. and River Plate shares, also Bycroft, Ltd., advanced sixpence this week, buyers offering £1 12/ in each instance. P. and O. Deferred Stock are now quoted on the £1 basis instead of £100, as heretofore. At the third call yesterday £2 11/3 was the buyer's quotation, which is. about equivalent to what was offered on the £100 basis. Northern Steam shares sold at 14/4 and 14/3, while 6/9 was accepted for the contributing issue. Inquiry was made towards the end of the week for Australian Iron and Steel preference shares at £1 0/10, but no selling price was quoted. Buyers came in for Tonson Garlick shares at 11/, but sellers asked 12/6. Banking stock had a few sales this week. New Zealands sold yesterday afternoon at £3 1/6, and during the week £15 7/6 was paid for Union of Australia shares. Bank of New South Wales changed hands at £51 7/6, after which a sale was made at 2/6 under that figure. Commercial Bank (ordinary issue) had business at £1 10/1% and £110/, more being offered %t £1 10/3. For E.S. and A. Bank shares £8 14/6 was offered yesterday afternoon. Waihi shares were a shade easier in price, sales being made at 14/2 and 14/. Ohinemuri Mines sold at 6/9 and later at 7/, while Taranaki Oil fields changed hands as low as 7/, but yesterday afternoon sales were made at sixpence advance upon that figure. More disposition was shown this week to do business in Government War Loans and various debentures. The different 4Vz per cent loans, free of income tax, are wanted at from £98 17/6 to £99. The 5)4 .per cent Loan, 1927-41, sold at £99, also the 1933 Loan at the same rate of interest. Canterbury Farmers' 6% per cent debentures changed hands at £94 5/, and for Auckland Gas per cent debentures £103 was paid. Auckland Harbour Board 6 per cent debentures have steady inquiry at £103, and the 5% per cent could be placed at par. Auckland Power Board 5% per cent debentures had buyers earlier in the week at £99, and yesterday an extra 10/ was offered.