ON 'CHANGE.

Auckland Star, Volume LXIV, Issue 302, 22 December 1933, Page 4

ON 'CHANGE.

THE WEEK REVIEWED.

YEAR'S STRONG FINISH

LAST MINUTE SALES

Not fc>r many a year have Auckland • stock brokers finished up with such a ' rush of business as was experienced prior . to. closing time yesterday. The buoyant attitude noted in recent weeks continued, and'instead of easing off, as is usual at this period, business speeded up until the final call. . With the exception ot W alius there were no special features. The demand covered a wide range, with values fully maintained in almost every instance. The banking section attracted moderate attention with buyers disinclined to make further advances. An exception was found in the case of New /ealands, which sold freely on a rising market from £2 7/3 to £2 8/. The D mortgage issue, on the other hand, eased with sales from £1 12/ to £1 11/6. New South Wales firmed .up at the last minute with a final transaction at £32 7/6. Insurances Still Popular. Having obtained slight reductions in the market rates of New Zealand*, South British and Nationals, investors nibbled persistently at the insurance section throughout the week, and sales were made of all the main lines. While other issues eased a little Queenslands firmed further and touched a new high level with a sale at £3 3/6. Trend of Market. • The trend of the market since last Christmas Eve is shown in the following table:— BANKS. Dec. Mar. Dec. Pec. 22. 24. • 15, 21. 1932. 1933. 1933. 1933. Australasia ... ISO'/ 195/ 248/0 243/f; Commercial ... .13/6 14/3 17/7 17/7 •' E., S. and A. . . S2/G ' 80/ 110/6 112/0 ■National (N.Z.) 05/ W 82/0 81/ .Nat. (A'sia).c.m. 105/ 112/0 130/ 130/ f N. South AVales 520/ 580/ 040/ 04,/(, New Zealand .. 40/0 43/10 47/3* 4S/ Union 135/ 146/ 194/ 104/ MISCELLANEOUS. Dec. Mar. Dec. Dec. 22. 24. 15, 21. 1932. 1933. 1033. 1933. N.Z. Insurance . 41/ . .48/ 57/3 57/ 'South British . 54/ 02/9 77/ 7;/ Goldsbroufih. M. 21/6 23/ 33/3 34/0 Colonial Sucfar . 920/ 1085/ 1255/ 1270/ : Auckland Cias . 21/ 21/1. 24/ . 24/ •Ex div. i Fixed Term Debentures. The section devoted to Government , .stocks and local body debentures was •comparatively quiet. Offerings were very 'scarce, and a buyer for 4 per cents (1940) had to go to £102 10/ to secure "requirements. Otherwise there was little change in this class. Interest Rates. The following table 6hows the return on Government stock to the present purchaser, based on redemption at maturity:— Sale Accrued Return price. interest, p.c. p.a. Stock. .£ s. d. £ s. d. £ s. d, 4 (1940) 102 10 0 1 14 7 3 17 6 3i (1938-52 . 101 5 0 7 0 *3 6 9 ♦Free of income tax up to 1938. Mining. Interest in the mining section was almost~monopolised by Waihis. A strong demand ■ set ini from London —possibly inspired by rumours of a movement for the stabilisation ■of gold values at a high level —and : under its influence the shares rose sharply from. £1 7/9 to £1 10/2. This figure, reached on Wednesday, proved to be the peak.. An easier tone was manifest yesterday, and before the day closed a parcel . had ' changed hands at £1 9/6. Grand Junctions moved up in sympathy and'had sales from 4/4 to 4/7. Of the .miscellaneous scrip King Solomons were .the .most popular, with business at' 3/3 andt3/2V : ' • - Australian. Not a.. great deal of business was done in Australian securities,, but the market for these was decidedly firm and fresh ■price levels for the year were recorded for Colonial Sugars at £63 10/, Dunlop, Perdriaus at 19/11 and Goldsbrough, Morts at £1 14/6. Improvement in the world's copper market, was probably responsible for a rise in Mount Lyells, which sold a shilling dearer at £1 3/3. • . .Dominion Issues. For miscellaneous Dominion issues the demand was exceptionally keen. Wilsons Cement (now paid to .10/) had a sale at £1 6/6 and Auckland Gas shares were steady at £1 4/. By crofts were asked for at £2-1/3, Northern Roller Mills at £1 9/9 and New Zealand Newspapers at .£1 9/, without attracting declarations from holders. Rural interests were represented in sales of Farmers' Auctioneering A prefs. at£l 0/6, B prefs. at 19/3,. Farmers' Fertilisers at 18/6 and . New Zealand Refrigerating (con.) at 9/7 and 9/10. Among city establishments Milne and Choyce's debenture stock changed hands at 17/9, Robinson's Ice Cream at 17/6 and Farmers' Trading B prefs. at 10/-. .In the unlisted division Claude Neons -were again in insistent request and the £1 shares sold from £2 0/ to £2 6/3. "Perpetual Forests, also £1 shares, changed hands at' £2 7/9 and National Tobaccos -were asked for at £3 5/. Latest Sales. Sales completed since last review have been as follow:— Banks.—New Zealand, £2 7/3, £2 7/6, £2 7/7 (3), £2 7/9 (2), £2 8/; New Zealand D mortgage, £1 12/, £1 11/9, £1 11/6; Commercial (pref.), £8 19/; New South Wales, £32 (2), £32 7/6; National, £4 1/. Insurance.—New Zealand, £2 17/3; £2 17/(2); South British, £3 17/ (3);' Standard, £3 0/9 (2); National, 18/9, 18/6; Queensland, £3 3/6. Government Issues, etc.—Stock, 3% (38/ 52), £101 5/ (2); Stock, 4 (1940), £102 10/; Rural Bonds, 5 (1947), £96 5/; Auckland H'lbour Board, 5% (1940), £103; Amalgamated Brick, 7% per cent (Auckland), £90.. Mining.—Waihi, £1 7/9, £1 8/7, £1 9/, £1-9/3, £1 9/9, £1 10/, £1 10/1, £1 10/1%, £1 10/2, £1 9/6; Grand Junction, 4/4, 4/6, 4/7; Maerewhenua, lOd (2); Gillespie s Beach, 1/10 (2); King Solomon, 3/3 (2), 3/2; Okarito, 8/;, Waitahu, 5/6. Australian.—Goldsbrough Mort, £1 14/6; Dunlop, Perdriau, 19/11 (4); Colonial Sugar, £63, £63 10/; Howard Smith, 12/9; Woolworths (Sydney), £4 18/6; ditto (2nd pref.), £1 4/8; Mount Lyell, £1 3/3. Dominion.—Auckland Gas, £14/; Farmers' Auctioneering, A pref., £1 0/C; ditto, B pref., 19/3 (4); Farmers' Fertiliser, 18/6 (3); Robinson's Ice Cream, 17/6; Woolworths (N.Z. pref.), £1 16/; Traders' Finance, 1/9; Consolidated Brick, 5/6; Farmers' Trading (B pref.), 10/ (2); New Zealand Refrigerating (con.), 9/7. '9/10; Milne and Choyce (deb. stock), 17/9; New Zealand Breweries, £1 17/3; Moturoa Oil, 3/; Wilsons Cement, £1 6/6. . Unlisted.—Claude Neon, £2 6/ (2), £2 6/3; Investment Executive Trust (B deb.), £99; ditto (second series), £89; Perpetual Forests, £2 7/9. SAXES COMPLETED. AFTER THE NOON CALL YESTERDAY— Last Sale. £ b. d. £ s. d. Bank of N.S.W. v 32 7 6 .. 32 0 0 Stock, 1940, 4 .. 102 10 0 ..102 2 6 Waihi 1 9 (5 .. 110 2 Bank of N.Z. ... 2 80-.. 2 79 Maerewhenua ... 0 010 .. 0 0 10, i CALL AND DIVIDEND LIST. DIVIDENDS. Due. Mount .± Morgan—lnterim, 2/ a share *•.:.-*.-.«. Dec 27 British Tobacco—Quarterly 1J p.c. i Dec. SO Morris, Hedstrom—lnterim, 2 p.c. Dec. 31 Notional Bank of New Zealand— Interim, British currency,