WEEK REVIEWED

Auckland Star, Volume LXXII, Issue 247, 18 October 1941, Page 4

WEEK REVIEWED

SHAREMARKET ACTIVE AUSTRALIANS LOSE GROUND In the face of disturbing event* abroad —the threat to Moscow, renewed tension in the Far East and taxation change* in Australia—business on the investment market in Auckland this week has been maintained at a high level, turnover representing a substantial advance over that of recent weeks. Strong investment demand has been the aalieut factor in cushioning the effects of the unsettling news, while tho low interest rates instituted by the Government are stimulating the search for yields.

External influences have been .so many and varied that it is not surprising the bold advance in share values recorded a month ago has not been continued, but the general undertone for Domiuion stocks has been firm. Australian scrip, on the other hand, has eased considerably this week in sympathy with the weakness in Sydney, while doubts concerning the effect of Mr. McKell's new tax proposals tended to depress these issues further. On examination it appears tHat the return to New Zealand holders will not be greatly altered by the revised New South Wales taxation. • In moderate dealing banking and insurance shares experienced a steady demand. Bank of New Zealands, which have been held to £2 sine* the beginning of the month, eased slightly yesterday. Attention was again focused on the leading insurance issues, both of which advanced. Booth British moving up Od to £3 2A though sellers reduced their limit* to £3 1/9 later. In the Australian Motion heavy trading developed in Sydney Wool worth# at around 17/, selling pressure following an easing from 17/4 earlier in the week. Typical of the marking down of leading Australians wse the loss of 1/ by Broken Sill Proprietaries over the five days' business. Bids were lowered for most stocks in this section. Trading in Dominion shares showed a marked increase, and for the most part values were held. A wide field was covered, breweries leading with small gains. Woollen, agencies and miscellaneous industrials all enjoyed a firm demand. There was a steady demand for Government stocks, but the market as a whole favoured buyers, and price movement* were negligible. Most activity centred on the National Development Loan maturing 195&59, six parcels of which were transferred at £100, and the 3 per cent IMO-48 conversion loan, which sold at £08. yielding a little over 3K per cent. Business was done in the initial War Loan at a gain of 13/0. Most oversea* mining scrip was easier in conformity with levels m Australia, though Mount Lyell* remained on a firm msrket, limits ranging from £1 7/ to £1 9/. South Island dredging shares had the usual steady demand/ with supplies abort.

TREND OF MARKET The following table iodic*.tea the fluctuations in the vaJuea of Tarioua securities:— buiu (tot. I*. Oct. 10. Oet.lT. IHO. mi. IMI. £ s d Cad * » 4 (kHMNkI • II • • U • • 1* • • a a 1 is a iiae Mvwsoutb' Wales .aaiaa aa 10 o aaiea mm wm4 aaa tea i is a MBcnmnepi m.z. insurance .... sis staa i» i South British .... 1 I • 913 J 1 • A.o.i aae ana a a e Broken BUI Pty. .aaa 9 9 1 » » • Bycrofts 11l ail 111 Mount Lyell II 11 111 111 Auckland Oas aaa ail 076 Fame re' Tradln* .. 109 193 133 Dam. Breweries .... 110 0 110 8 111 0 nx. Breweries .... 1 II 7 1 10 S 1 10 0 O. J. Coles 3 10 0 300 330 Wilson* Cement .. 011 0 1 0 0 011 10 Colonial Sugar .... HU 0 13 10 • 13 10 0 Woolworths— New Zealand ... 010 0 014 3 014 3 Sydney 0 IS 3 0 17 4 0 16 11 oovbrnmbtt stock 1159-55 107 3 0 107 0 0 107 0 0 1043-46 103 a 0 101 7 0 101 7 6 1153-87 101 I 0 101 17 0 109 0 0 LATEST BALEB Sales since lafct review are: — Banks.—Commercial Bank Australia (pref.). £> IS/; New Zealand. £3 (4), £1 19 0: National A'asta (eon.). £6; E.S. and A.. £4 1/6 (3): A'asla. £0 18'. Insurance.—National. £1 (3): New Zsaland. £3 ' 10/ (4). £3 10/3: South British (ex dir.). £3 13 (4). £3 3/. Australian and Overseas.—Woolworthi Propertics. £1 8/1 (3): Woolworths (Syd). 17/4 Ui, 17/3. 17/. 16/11. 17/ (5). 1611; 8.H.P.. £5 5 9. £3 3/3 (3). £3 3/. £3 1/1; Sncir's Propjrtln (pref.). £1 0/6; Woolworths Holdings (S.A.). 16 '11 (2): Kauri Timber. £1 3/9. Mlnlnc.—Una HUI. 1/4. 1/3 (3): Mount Lyell. £1 8/6; Mount Morsan. 0/4. 0/1; Smperor. 13 3; Mertha. 6/6; Rawaas Tin. I/. Dominion.—Dominion Breweries. £1 10.9 (3). £1 11/ (3); Claude Neon. 16'6 (odd lot): Wrtcht Stephenson ford.). 11/; Woolworths (N.Z.). 14/3 (3). 14/9; ditto (pref ), £9 0/3 (3): WestportStockton (ord.). 3/7 (3); Moturoa OU. 9/6; TsupoTotara (ord.). 5/4; United Building. £1; wiucns Cement, 19/10 (3); Auckland Oes. 7/6: Northern Steam (paid), 4'6: ditto (eon.). Cd; Farmers* Auetloneerm* (£3 paid). £3 19/6: Consolidated Brick, 7/1 (3); Dominion Investment. £1: MeSendrlek (ord.). £1 9/6: Taranaki Oil Fields. 4/9: Held Rubber. £1 6/; Farm en* Auction—rlny 'E 5 paid). £4 13/; Kalapol Wool (paid). 17*8: Farmers* Tr-dln». £1 3/3: ditto (A pref.). £1 * : Hew Zealend Breweries, £1 16'; Dons|hy*s Rop: (eon.). £1 15/6: McKeasles. £3 4'in. Loan* end Debentures.—St wit. 15'1'56-??. 3>'. n«r rent. Rt'O (5); 31/5/54-59. 4 n-r <*"17 IP (5): 15 9/40-46. 3 per cent. CSS (4): 30 1118. < per ernt. £105 8/: 15 'S *??-?« * n-r era*. CIC7: War Vwjx. 1 '10/53. £e<< 5' (31. SALES COMPLETED Salas completed on the Auckland Stock Eschance at the 3.15 p.m. call yesterday:— Last sale _£sd £ s d Bank A'asla I 15 0 . i 15 0 Bank N.Z. (3) 111 I .. 119 9 N.Z. Breweries 1 16 0 1 is 0 Wilsons Cement 0 19 10 0 19 10 Wcol-vcr'Hs (M.Z.) (4) 014 3 0 14 2 Hill 0 11. 0 13 Stock. 15. 1 56-59. 3<« ICO 0 0 103 0 0