WEEK REVIEWED

Auckland Star, Volume LXXII, Issue 193, 16 August 1941, Page 4

WEEK REVIEWED

SHARE DEALING QUIETER

INVESTORS MARKING TIME

Once again the uncertainties ol the war j situation have acted as a brake on the investment market, and trading tins week has been restricted, neither buyers nor sellers displaying a great deal of enthusiasm. It is clear that investors are awaiting a lead from overseas, and despite the acute shortage ol Irontrank issues tihey are not at this stage prepared to advance their bids. Holders, for their part, appear to be in no mood to quit, and the few concessions offered have been grudgingly made. At the close yesterday offers were raised here and there without attracting sellers. With lines usually commanding a ready sale unobtainable in many cases, it was not surprising that greater attention was devoted to preference shares and those normally not very active. Symptomatic of market sentiment was the disappearance of sellers altogether from the insurance group, and their reluctance to come forward in the banking section. There was not a single transaction in insurances, almost a record for the Auckland exchange. Holders simply declined to quote, though inquiry throughout was strong at rates in excess of last selling prices. Mu.rh the same slate of affairs prevailed in the case of banks, though there were more sellers about —at a price. , Nationals and New Zealands both made ' small gains in limited dealing. Australian and overseas stocks enjoyed a firmer market generally. Hudda.it I Parkers were firm and active. G. J. C-olcs moved up 1/ on the week, while Kelt and 1 Textiles. Australian Steel preferences. I Sviincy Woolworths, A.G.l.'s and Woolworths Holdings were all stronger. Broken i Hill Proprietaries have still not recovered from their recent, setback. Pates were mostly steady in the Dominion section, where trading was again affected by scarcity of offering*. Breweries were quiet, a.nd coals and woollens were less prominent. Petail stores retained their strength, and among industrials several parcels of Wilsons Cements were released at 19.3, their best level this vonr. With drilling progress- at the interesting stage nt Midhirst a revival of interest ccurred in oil shares. Buying support has been strong throughout for gilt-edged issues, but selling I quotes have been few. With a little over a fortnight before the lists close for the new War Loan, subscriptions are believed to be somewhat disappointing, and last week the Minister of Finance was able to announce that only about a fifth of the £10,000.000 sought had been taken up. In the case of many companies it is a question of the spirit being willing but the finances weak, owing, of course, to heavy wartime levies, but with the splendid example of Britain before them most investors realise that in times like the present greater sacrifices cannot be withheld. Institutional support for the War Loan, moreover, can be expected in greater volume before the lists close. Business in the gilt-edged section this week has been confined to only five transfere, the smallest for many weeks, and for local body debentures the market remains moribund.

TREND OF MARKET The foltowmcr table indicate* the fluctuations in the values of various securities:— BANKS Aug. 16. Aug. 8, Aug. 15, 1940. 1941. 1941. £sa£s d £ s d Commercial 013 6 015 0 oIS o National. N.Z 1166 JlBlO "* 119 0 New South Wales . 25 15 0 29 0 0 » 0 0 New Zealand 9 0S 119 2 1193 MISCELLANEOUS N.Z. Insurance ... 218 6 ,3 5 3 3 5 3 South British 266 214 9 214 9 A.C.I. 115 0 290 2 93 Broken Hill Pty. 210 223 220 Bycrofts 210 240 240 Mom-t Lyell 159 173 J'? Auckland Gas ... 086 J6 4 ??* Farmers' Trading . 018 9 115 1 1 » Dom. Breweries ... 110 2 19 0 1 9 0 NZ Breweries 1 13 0 1 14 6 1 14 9 G. J. Coles 320 346 350 Wilsons Cpment ... 018 6 019 6 019 9 Colonial Sugar 48 0 0 55 5 0 55 0 0 Woolworths — _ „ _ New Zealand .... 015 8 0136 013 7 I Sydney 016 0 017 5 017 7 GOVERNMENT STOCK '1952-55 105 0 0 106 15 0 107 5 0 1943-46 10115 0 103 0 0 •101 15 0 11953-57 99 10 0 102 5 0 102 5 0 I *Ex Interest.

LATEST SALES Sales since last review are: — Banks.—National of New Zealand. £1 18,9. £1 19/; New Zealand. £1 19/3. Australian and Overseas.—Huddart Parker. £2 5/ (4): Broken Hill Proprietary. £2 2/3 (2). £2 2/; Australian Iron and Steel (pref.). £1 7 '3: O. J. Coles. £3 4/. £3 4/8. £3 5/ (2); Felt and Textiles, £2 3'; Woolworths (Sydney). 17/7: Woolworths Holdings (S.A.). 15/6; Electrolytic Zinc. £2 13/. pref.. £2 15/: A.C.1., £2 9.'3; Herald and Weekly Times. £2 12/. Mining.—Una Hill, 16 (3). 1/7, 1/8; Emperor. 12/1 (3); Walhi Investments, 4/6; Mount Lyell. £1 7/3, £17/; Martha, 7/9; Placer Development. £3 3/6. Dominion.—Oamaru Wool. £1 1/6; New Zealand Breweries. £1 14/6 (2); Reld Rubber (con.). 11/9: Newton King (pref.). 11'6 (21; Farmers' Trading. £1 1/5 (2). B pref., £1 3/1 (2); Woolworths (N.Z.). 13 '6 (2). 13 7; Westport Coal, £1 2'7'i: Northern Steam. 4/ (2); Auckland Gas. 6 3 (5). 6/4: National Timber. 6/714: New Zealand Refrigerating _, (con.). 8/9: K.D.V. Boxes. 8 6; 1.C.1, (pref.). £T 4/9: Wilsons Cement, 19 6 (3); Fletcher Holdings (pref.). £1 1/6: Traders' Finance (con.), 3/2; McKendrick (pref.). £1 2/3. Loans and Debentures.—Auckland Gas (pern, deb.). £99 (3): Development Loan. 15/1 56-59. 3»,i per cent, £100 10/; Stock, 31 5/54-58, 4 per cent, £108.

Unofficial.—Farmers' Freezing (£1 pd.). £1 1/6 Walker and Hall, 18/.