Financial News

Auckland Star, Volume LXXIII, Issue 114, 16 May 1942, Page 3

Financial News

WEEK REVIEWED SLUGGISH SHAREMARKET LITTLE ALTERATION IX VALUES Share business again fell within a very small compass on the investment market at Auckland this week and sentiment was little changed from the previous week. Buyers were generally inclined to reinstate their bids, and sellers held off or fixed wide reserves. Towards the close there was some evidence 6f sellers giving way, but there was no concerted movement in that direction. While the Liberty Loan is filling up, normal investment channels tend to be neglected. There has been very little selling of Government stock, which suggests that subscriptions to the new loan are coming mainly from liquid resources, and in this connection the next trading bank return showing advances and deposits may prove an indicator. Business in bank shares has been confined to New /iealands, the market for which eased to £1 17 0, later recovering to £1 IS/. Dealing in insurances has revealed a forward movement in New Zealands. while South British had an easing tendency, buyers withdrawing support at one or two calls. In Australian securities the only notable change was a stronger tone for industrials such as Broken Hill Proprietaries and A.C.l.'s. Dominion industrials and trading companies continue to operate under difficulties which grow no less acute as the war progresses. Ministerial reference this week to non-essential manufacturing- industries. which will have no claim to retain labour, was not calculated to strengthen confidence in the ability of some of these concerns to continue maintaining dividends. Quiescent for weeks, breweries c.-uue to the sales list, but values showed no improvement. National I imbcrs were firmer and some )o<i ground was recovered by Wilsons Cements. Department stores remain dull. Rawang Tin sold at :»/. compared with o/4 a year ago. This was one of the companies affected by the occupation of or investments elsewhere. Fiji gold mines changed hands this week at slightly better rates. LATEST SALES Sales since last review are: Banks.—N.Z,, £1 18 6 (4). £1 18/, £1 17 '9. a^. l Ji ur S n i c *? , r N -5-•• £3 3 6; £3 3/3 < odd lot >; South British. £2 14 9 (4). Australian and Overseas.—G. J. Coles, £2 7/: Taranaki Oil Fields. 6'6; A.C.T.. £2. Mining. Loloma, 14.6 (2); Rawang Tin, 3/: Emperor. 8 Dominion.— Farmers' Auct.. (B. pref.). £1 2'6: National Timber. 8 6: 1.C.1. (A. and N.Z.) (pref.). 1°: Rei d Rubber (new). £1 2/: Bruce Woollen. £1 3 3 (2): Farmers' Trading. £1 0 6: Dominion Breweries. £1 6,3; Auckland Oas (con.), 17 9 Breweries, £1 11 6; Wilsons Cement, Loans and Debentures. War Loan. 1/10-53. £90 10' (2): Stock. 15 9 46-48. 3 per cent, £100: Stock, 30,11,48, 4 per cent. £ 106 s'.

TREND OF MARKET The following table indicates the fluctuations in the values of various securities:— BANKS May 16. May 8. Mav 15. 1941 1942 1912 £ s d £ s d £sd Commercial 13 11 *13 9 *13 10 National. N.Z IIS 0 *1 16 9 *1 17 0 Ne?' South Wales 28 0 0 27 ft 0 27 5 0 New Zealand ...... 117 7 118 9 118 0 miscellaneous N.Z. Insurance . 316 "3 33 340 South British .... 211 0 i! 15 II 214 9 A.C.I. 220 *1 19 6 200 Broken Hill Pty. . . 2 2 6 112 S *1 13 o Bycrofts 2 3 9 *2 2 0 *2 2 0 Mt. Ll'fll 1 7 0 *1 3 6 1 3 6 Auckland Gas ... 5 9 7 0 7 0 Farmers' Trading . 19 4 *1 0 6 1 0 6 Dom. Breweries ... 189 +1 70 163 NZ. Breweries 111 0 tl 12 0 111 6 O. J. Coles . 320 270 270 Wilsons Cement ... 19 2 *17 0 17 9 Colonial Sugar .. . 52 5 0 f45 0 0 t45 0 0 Woolworths— N.Z 13 4 '12 I *12 8 Sydney 16 2 13 9 13 9 GOVERNMENT STOCK 1952-55 .. 106 10 0 108 0 0 108 0 0 1943-46 103 0 0 100 12 6 100 12 6 1953-57 101 2 6 *103 5 0 *103 0 0 * Buyers, t Sellers. SALES COMPLETED Sales completed on the Auckland Stock Exchange at the 3 p.m. call yesterday were:—Bank N.Z.. £1 18' (£1 17 9); N.Z. Insurance. £3 4/ (£3 3/3); War Loan. 1 10 53, £90 10 : Unlisted: Macky Caldwell Properties. 15' (—). Last sale price in parentheses where changed.