THE WEEK REVIEWED.

Auckland Star, Volume LXIV, Issue 88, 15 April 1933, Page 4

THE WEEK REVIEWED.

BROKERS FAIRLY BUSY.

GOVERNMENT STOCKS SELLING

SHARP RISE.

Although shortened as a result of the Easter holidays, the week ending on Thursday night provided Auckland brokers with a good aggregate turnover, and the recorded sales exceeded those for the previous full week. Generally speaking, the market displayed a healthy tone, and the strong tendency noted recently was again fully maintained. Government stocks were persistently asked for, but holders were not at all anxious to declare, and when they ultimately came to the market it was with a reserve of par for all issues. They stood fast on this limit, and it was not until Thursday, after the last -all before Easter, that some holders were agreeable to compromise. Business quickly followed, and before brokers offices were closed sales had been concluded in virtually all the new issues. The basis of £99 for and £99 10/ to £99 15/ for 4's should be satisfactory to all who are concerned in.the prestige of Government issues. Prior to these sales investors devoted a fair amount of attention to local body debentures, and here again values were right up to recent levels, despite the fact that interest is now subject to 20 per cent reduction. Commercials Move Again. A notable feature of the bank section was a sharp rise towards the close of the week in Commercials. The ordinary scrip had been dull for some time, but a sale on Wednesday showed a rise of sd, and this was followed by a further 2d advance on Thursday. The preferential issue was in keen request with buyers at £8 9/6. New Zealands continued recent firmness with buyers making fresh concessions. The last sale, at £2 5/9, showed a rise of lid in the week and of 3/6 since the first of March. Trend of Market. The trend of the _ market since Christmas Eve is shown in the following table:— > BANKS. Dec. Mar. April April 22, 24, 7, 13, 1932. 1933. 1933. 1933. Australasia .... 180/ 195/ 208/6 208/6 Commercial .... 13/6 14/3 14/1 E.S. - and A. ... 82/6 86/ 80/ 86/3 National (N.Z.) 65/ 66/ b6/6 bO/b Nat. (A'sla) con. 105/ 112/6 118/6 118/6 N. South "Wales 520/ 580/ 580/ 580/ New Zealand .. 40/6 43/10 45/ 45/9 Union 135/ 146/ 147/6 147/6 MISCELLANEOUS. Dec. Mar. April April 22, 24, 7, 13, 1932. 1933. 1933. 1933. N.Z. Insurance . 41/ 48/ 48/3 49/6 South British . ' 54/ 62/9 64/6 65/ Goldsbrough, M. 21/6 23/ 22/9 23/ Colonial Sugar. 920/ 1085/ 1095/ 1100/ Auckland Gas . 21/ 21/1 21/1 22/ It will 'be noted that the bank and insurance sections are rated well above the pre-Christmas valuations. Insurances In Demand. There was no slackening in the demand for insurances, but holders were very firm and the few sales made were at new high levels. The continued increase in the value of insurance scrip over the last few months has been one of the outstanding features of the Dominion Exchanges. Waihls' Sudden Jump. The feature of the mining section was a sharp advance at the close of the week in Waihie, following a corresponding movement in London. Local operators are at a loss to explain the sudden rise, but it is assumed that those situated close to headquarters have obtained some information to justify their attitude. It was due to rumours of this nature—which so far have not materialised—that the scrip rose sharply a few months back, and a good deal of business was then transacted on a rising market. This was followed by a lull, with values fairly steady between £1 1/6 and £1 2/. The latest sale has been at £1 3/3, showing the highest level reached for the scrip for many a year. There were few special reatures in the miscellaneous mining scrip. Blackwaters, Consolidated, and Nokomais had sales at late valuations, but Golden Dawns fell back with a transaction at 1/7. Not so long ago these shares were selling at 4/6 to 5/. Some interest was shown in Golcondas, and buyers moved up to sd. Miscellaneous. In general industrials there was a healthy demand. Auckland Gas shares were a prominent feature, and the ordinaries sold up to £1 2/ and the contributing at 16// These were the highest prices given for some time. Farmers' Fertilisers were also keenly sought, and buyers went first to 16/4 and then to 16/5 to obtain the scrip. Kempthorne, Prossers with sales up to £3 3/ and Wilsons Cement at £1 12/ maintained late valuations. Australian general securities were firmly held. Mount Lyells registered an advance with a sale at 19/9, and Goldsbrough, Morts also improved with a transaction at £1 3/1%. Colonial Sugars touched a new high level, with business at £55. Latest Sales. Sales completed since last review have been as follow: — Banks. —New Zealand, £5 4/10, £2 5/ (2), £2 5/1%, £2 5/9; New South Wales, £29 (2); Commercial, 14/6, 14/8; E., S. and A. Bank, £4 6/3. Insurances. —South British, £3 5/; National, 16/6. Breweries. —Staples', £1 2/9. Public Issues. —Government stocks, 4 per cent, 1949, £99 10/; 1955, £99 10/; 1940, £99 15/; 1946, £99 15/; 3Vz per cent, 1938-43, £99; 1938-52, £99. Auckland City: 5% (1957), £99; 5% (1/2/36), £99 10/. Waitemata: 1/4/62, 6, £98 10/. Auckland Harbour Board, 5% (1937), £99. Mount Albert Borough Council, 5% (1963}, £96. Mining.—Waihi, £1 2/2, £1 2/3, £1 2/5 (2), £1 2/9, £1 3/3; Cornish Point, 2d; Blackwater, £1 1/9; Nokomai, 5/6 (2); Golden Dawn, 1/7; Consolidated Goldfields, 9/9; King Solomon, 1/11 (2); Kuala Kampar, 5/. Australian.—Colonial Sugar, £55, £54 15/, £55; Goldsbrough, Mort, £1 3/1%; Mount Lyell, 19/9. Dominion. —Auckland Gas, £1 2/ (3); contributing, 16/; Farmers' Fertiliser, 10/4 (2), 16/5; Kempthorne, Prosser, £3 2/6; £3 3/ (2); Wilsons Cement, £1 12/ (3), Northern Steam, 7/; Gisborne Gas, 4/: Westport Coal. 12/6. Unlisted.—Bell Hooper, 7%d; Williams Rotary, 3/7%. BUSINESS IN SOUTH. (By Telegraph.—Special to "Star.") CHRISTCHURCH, this day. The volume of business on the Stock Exchange during the past week has, of course, been affected by the loss of something more than a full trading day, for Exchanges of the Dominion closed for the Easter vacation after the noon call 011 Thursday. Up till that time the volume of business locally had been in advance of that of the preceding week. Totals compare as follows:—This week, 23,248; last week, 25,014. The anaiysis of business is as follows, with figures for the previous week in parentheses:—Banks, 878 (1648); insurance, 10(55 (650); loan and agency, 850 (100); meat, 700 (1700); woollen. 45 (65); coal, 800 (560); gas, 100 (681); brewery, 400 (1555); miscellaneous, 360 (2105); mining, 18,050 (15,950).