WEEK REVIEWED

Auckland Star, Volume LXXII, Issue 211, 6 September 1941, Page 4

WEEK REVIEWED

QUIETER SHAREMARKET REACTION IN BANK SCRIP Wlrile values have been firm over most sections 011 the Auckland eharemarket during the week, trading lias been spasmodic, with turnover at some calls very light indeed. Banks and insurances displayed a weaker tendency, while the demands of the new War Loan were again reflected in a diminution of interest in Government stock. Brokers report that sellers generally have the advantage, and there is «*till a marked difficulty in tilling orders.

A reaction in bank shares, notably New Zealands and Nationals of New Zealand, was not altogether unexpected, for they have made substantial gains in the last month or two. Not long ago New Zealands were selling at 36/. To-day the market in around £'2, though buyers marked them down to £1 19/ before withdrawing altogether yesterday. Later a sale was recorded at €2. Nationals were also without ofi'ei-e. South British Insurances slipped back somewhat, while wide limits were set for New Zealand Insurances".

Earlier in the week buyers of a number of markec leaders reduced their offers, but holders showed no disposition to change their minds. The net result was a series of quiet calls relieved when buyers came forward strongly again for many industrials. Dealing was only moderate yesterday, however.

Aj>art from those developments the general tone of the market, based on the progress of New* Zealand stocks in London and the strengthening in the Australian markets, is very firm. Average trading in overseas scrip saw some forward movements in Colonial Sugars, G. •>. ('•oles and Selfridges. Felt and Tex tiles, NewZealand holders of ■which have been granted facilities for taking up right*, were readjusted in the quotation list on an ex rijjhts and dividend basis.

Among Dominion securities a keen demand resulted in further gains; in fact, almost every transfer held to late rates or recorded improvement. Supplies of coals, which have been tightly held for weeks, were released, but breweries remained quiet, though quotes were at strong levels. Auckland Gas displayed a rising trend, and a parcel of refrigerating shares changed hands at a better price. There was little doing in woollen, oil or mining issuer. Retail stores were active. The gilt-edged market was uneven, with mora sellers of Government 4 per cents fhan buyers on some days. Support was fuller yesterday, and the appearance of some local body debentures made for more interest in this section.

TREND OF MARKET The following table indicates the fluctuations in the values of various securities: — BANKS

LATEST SALES Sales since last review are: — Banks.-—National of New Zealand, £1 19'3 (2); New Zealand, £2 0/3; Australasia, £8 15/: New South Wales, £29. Insurance.—South British, £2 15/9, £2 15/6* National. 19/7. Australian and Overseas.—G. J. Coles. £3 6/; ?^!;^ ges « < A ' asia >. £1: Wool worths (Sydney). * t * n , d S\ deferr «l. £1 12/ (odd lot); wm « ,?° ; Colonial Sugar, £56 5/; Broken £1 10/3 y ' £2 3/ (3): Toohey,s Brewery.

Raw ang^ Tin '''r J*' ' Mount Morgan, 9'B; Dominion.— Northern Steam, 4/6. 'ditto con 7dGrey and Menzles, 13/ (ex dlv.); Taranakl oil 7»«1 S m n" ■ 2 / 3: f ukeTniro Ccal. 18/6 (2): New ?•??<, ? Drue (con.). £2 10/6. ditto (paid). £3 17/9. Auckland Oas. 6/7. 6/8 (3). 6/8; Dominion Breweries, £ 1 10/ (3); New Zealand Breweries. £1 15/: Bycroft, £2 4/3 (odd lot)- Donashv's Rope (rights) 14/9; K.D.V Boxes. 8-6 (3) Renown (pref.). 2/8: ditto ord., 10/3, 10/6; Macky Slivirn 1 Farmers' Trading. £1 1/4, £1 c™ent. 19'6 (4); Woolworths Miili. PI 11/K- N -T .): New Zealan «' Paper. I {S , , r l ew _ Ze J land Refrigerating (paid). 19/6. Consolidated Brick. 7/3 (2); Taranakl Oil i Fields, 5/3 (3): Westport-Stockton (ord ), 2'6 (3)Westport Cpal. £1 3/6 (odd lot). Loans and Debentures.— Stock, 15/1/53-57, 3'V £101 C 10'- 23 vsn i/ 2,: 15/2/43-46. 4 per cent. loiS ' , 22 5 ®0. 3'i per cent. £102 10/: Auck£B7 ? as /,?^ r - f . '*!., £1 J 00: War Loan - 1/10/53, £101 Auckland. 1/3/48, 3\' x per cent.

Sep. 6, Aug. 2», Sep. 5, 1940. 1941. 1941. £ s d £ s d £ s d Commercial 0 14 9 0 15 1 0 15 1 National. N.Z 1 19 0 1 19 3 1 19 3 New South Wales . 26 15 0 29 0 n 29 0 0 New Zealand 223 203 200 MISCELLANEOUS N.Z. Insurance ... 313 370 »3 7 0 South British 299 2 16 0 2 15 6 AC.I. 1 16 6 2 10 0 2 10 0 Broken Hill Fty. .. 260 230 2 3 <T Bycrofts 220 240 Mount Lyell 169 173 180 Auckland Gas 083 0 # 6 069 Farmers' Trading . 0 19 9 115 115 Dom. Breweries ... 1 12 0 1 10 0 1 10 0 N.Z. Breweries 1 15 3 1 15 0 1 15 0 Cr. J. Coles 350 360 370 Wilsons Cement ... 0 19 5 0 19 6 0 19 7 Colonial Sugar 49 15 0 56 5 0 56 7 6 Woolworths— New Zealand 0 16 6 0 14 2 0 14 3 Sydney 0 18 4 0 17 10 0 17 10 GOVERNMENT STOCK J252" 55 '06 0 0 106 10 0 106 15 0 J®"-46 102 5 0 101 5 0 101 5 0 1953-07 100 5 0 102 5 0 102 5 0 •Sellers.