THE WEEK REVIEWED.

Auckland Star, Volume LX, Issue 40, 16 February 1929, Page 4

THE WEEK REVIEWED.

MARKET STILL STRONG

WAR LOANS DEARER

BANKS AND INSURANCE SELLING

Business continued steady throughout the week on 'Change, and prices of investment stocks were well maintained. The ' nti on Blenheim Oil share- soon '■nded. and wa«i followed by a sharp decline in buying price's. Sales were made

..; these shares us high as £j 10/ a little nvcr a week ago. in Auckland, but when

: Hither information was received as to the short time the oil was allowed to How, theie whs a sudden and very decided slump. Yesterday morning the best offer I'.n- Blenheim Oil shares was 5/6. but this was increased to 6/ in the afternoon. No silling price was mentioned. Taianaki oil shares, which had risen in sympathy from 4/ to 8/, dropped back to sales at 3/9. but later 4,3 wns paid and buyers offered 4/2 yesterday afternoon.

Kuala Ivampar Tin shares continue to slowly improve in price. Buyers offered 1.V.5 yesterday afternoon, but sellers wanted 15/10. Mount. Lyell shares sold iit. £2 2/ and £2 2,0. Electrolytic Zinc shares were placed at CI 16/(5 for the ordinary and £\ 17/.'} for the preference shares." Waihi shares declined in price this week, sales being made at 14/ to 13/9. after which an extra penny was paid.

More business than usual was clone dining the past week in War Loans and Debentures. Waitemata ft per <--ent Loan sold at £105, and for Mount E(fen five and three-quarter per rent Loan, buyers advanced their offers to £102, while the mx per cents were asked for at £103, an increase of 10/ in each instance. Devonport four and a-half per cent Loan sold at £93, and the five and a-half per cent fould be placed at £90, but there are no seller*. Glaxo, Ltd., Debentures advanced 10/. being wanted at £90 10/. This brought in a seller yesterday afternoon at £94. Hamilton four and a-half per cent Loan had sales at £85 10/, while for Auckland Gas, five per cent debentures, £94 could be got. and £103 10/ is offered for the six and a-half per cent Loan.

The four and a-half per cent War Loan, 1938, also 1939, free of income tax, reached par this week, sales being made at £100. Earlier in the week, the issue maturing in 1938 sold at £99 15/ and £99 17/6. The 1930 four and a-half per cent Loan were placed at £99, and Soldiers' five and a-half per cent bonds had business at £101 10/.

Woollen Company shares continue in good demand, but the only sales this week were in Wellington Woollen Co., for which £7 5/ was paid. Timber shares had a little inquiry. Nationals were offered at 10/, which brought in a buyer at 7/6. L.0.8. Timber are wanted at £1 12/6, and Bartholomew Timber at 18/. Northern Steam shares firmed in price, sales being made at 14/3. while for the contributing issue 6/8 was paid. Huddart Parker Steam changed hands at £2 8/6. Dcvonport Ferry sold at £ 1 4/3 and £ 1 4/. Sales were also made of Auckland Gas shares at £1 4/3.

Hikurangi Coal shares suffered on the market as the outcome of the mine being flooded. Yesterday the preference issue were offered at 8/6. Westport Coal firmed a little, sales being made at £1 11/6 and £1 11/9, the latter price being still obtainable. Pukemiro Collieries shares are still wanted at £3 6/, and Taupiri at £1 5/6. Renown Collieries have been without buyers for the last couple of days. The: selling price is still 18/3. The preference issue of 2/6 had sale* at 2/11 and 2 TO.

Fair business wag done with insurance shares. Prior to payment of the dividend New Zealands sold at £2 8/, and are now wanted at £2 6/9, ex cliv. National Insurance had sales at 16/2, and Queenslands at £3 8/, .an advance of 2/ on the previous buying offer. South British shares were wanted yesterday afternoon at £3 4/9, and for Australian Provincial, 8/11 was offered.

New Zealand Breweries sold at £2 18/. and for the debenture shares up to £1 6/7 was paid. Sales were recorded of A. J. Entrican preference shares at 17/. Grey and Menzies were transferred at 11/, and Haywood's Pictures at £1 1/. Buyers of Kempthorne, Prosser Drug advanced their offers to £3 14/, without a seller coming in. Milne and Choyce debentures had further sales at £1 6/3, and Sanford, Ltd.. ordinary issue, sold at 18/. Inquiry was made yesterday for Sharland's Drug at 19/3 for the ordinary issue, and £1 0/3 for the preference shares. Union Oil and Candle shares had transactions at £2 1/3, and Victoria-Nyanza Sugar sold from £2 4/9 to £2 5/. Another advance has taken place in buyers offers for New Zealand Loan and Mercantile ordinary stock. Yesterday £126 was offered, but no seller quoted. Dalgetv Ltd., shares are wanted at £15 9/ and "Si B w , ere J na(,e of Farmers' Fertiliser at £1 0/6. Farmers Trading B preference shares sold at 12/6. and are still asked for at a shilling less. New Zealand and River Plate shares could be sold at £1 13/3 ami Goldsbrough Mort at £2 12/. Sellers £■> 147 share s. however, now ask

Banking shares continue in good demand. New Zealands sold at £3 3/ and at the third call yesterdav that price was again offered, but there were no sellers The D Mortgage (20/ paid) were %H/o 0 fu at £1 8/3, a " compared with t- 1 7/9 the previous week. Union Bank had a number of sales from £15 8/6 to £15 7/6. after* which £15 8/ was paid. E.S. and A. Bank shares had transactions at £8 18/9, and Bank of Australasia changed hands at £15. Commercial Bank shares firmed slightly, sales being made, ex rights to the new issue, at £1 9/3. The rights could now be sold for 8/11.