WEEK REVIEWED

Auckland Star, Volume LXXIV, Issue 31, 6 February 1943, Page 3

WEEK REVIEWED

SHAREMARKETS FIRM SUI'PWBS BECOME SCARCE Unimpaired strength continued to mark Stock Exchange operations this week. Overseas markets also remain very firm. Following the Casablanca conference, Wall Street stocks moved upwards and early in the week turnover passed the million mark. In London the indices did not reflect the same degree of confidence. Activity in Australia has been restricted, since so many issues are held against the maximum fixed limits. Auckland brokers had a busy period until the close, when sellers held aloof, and the market became relatively inactive. Small parcels of 50 or fewer shares were ottered, but holders made few concessions for marketable lots, despite advanced bids in most sections. Financial scrip attracted some attention, and Bank of New Zealands rose sharply to £2 1/3. Later buyers were in at £2 1/6, with a reported sale in the South at £2 2/, equal to the peak last year. Commercials of Australia were firmer at the close, and supplies of banks all round were far from plentiful. Among insurances, New Zealands had unsupported buyers at £3 17/ throughout the week. South British progressed to a new record at £3 10/, and there was activity in Nationals and Standards at stronger levels. . .

The demand for Australian securities showed no signs of slackening, but hero again shortage of supplies was tho dominating factor. There was an extension of dealing in miscellaneous Dominion issues to stocks the market lor which had not been tested for some time, and prominent in this category, all at higher rates, were Milne and Choyce debenture stork, Donaghv's Ropes, Bycrofts and McKenzies. Retail stores, which were slower than other shares to recover from the bearish influences last year, continued their progress, while breweries achieved the best prices in recent years. Dominion Breweries, at £1 14/, ire 4/2 above valuation at the beginning of December and S/ above last year's "low," while New Zealand Breweries, at £1 17/3, show a rise of 2/9 on the December level and 7/3 on the 1942 "low." Government fixed - interest - bearing stocks have had steady inquiry, with moderate activity in war loans. Allowing for accrued interest. and ex-interest adjustments, disclosed sales of most State issues reveal remarkably steady prices for some time. Big turnover in investment, shares has had the usual effect of releasing more supplies on the gilt-edged market. _ I-iATEST SAIiES

Sales since last review are:— Banks.—Com. of Australia, 16/9 (4); National of A'asia (paid), £12; N.Z., £2 1/3;_N.Z. (D Mortgage). £1 11/: National of N.Z., £29/9 Insurance.—South British, £3 9/, £3 10/ (3); National, £1 1/9 <4); Standard, £3 10/ (3). Australian and Overseas.—Woolworths (Syd.), 17/9 (4); Colonial Sugar, £53 15/ (2); British Tobacco, £2 8/ (2); G. 3. Coles, £2 19/ (ex. "'iMining.— Mt. Lyell, £1 9/3 (2); Mt. Morgan, 9/9; Emperor, 14/. : Dominion.—Auckland Gas, 7/8 (2); Hill and Plummer, £1 8/6 (3); Reid Rubber, £1 6/(2): N.Z. Breweries, £1 17/, £1 17/3; Radio (1936), 13/; Renown Coal, 9/1; Renown Coal WJ, 2/10; Dominion Breweries, £1 13/6, £1 13/9, £1 14/; Woolworths (N.Z.), 15/9, 16/ (2); Milne and Choyce (deb. stock), £1 1/: N.Z. Farmers Fertilizer, 19/; Donaghy's Rope, £2 15/6 (3), Farmers' Trading, £1 1/8; N.Z. Forest Products, 4/: Westport-Stockton Coal, 2/10; Northern Steam, 6/9; Wellington Woollen (pref.), £8: Bycroft, £2 8/9; Sanford, 4/9; McKenzies, £2 3/. Loans and Debentures.—Stock, 1949-52, 4 per cent, £105 5/, £105 10/ (2); Stock, 1957-60, 3i' 4 per cent, £102 2/6; Liberty Loan, J952-50, 3 per cent, £99 12/6 (2); Liberty Loan, 1953-56, 3 per cent, £99 5/ (4); 1951-54, 3 per cent, £98 10/ (ex. Int.) (2); Auckland Gas (perp. deb.), 3'i per cent, £88 10/; A.H.8., 1956, 4i/4 per cent, £108 5/: A.H.8., 1957, 4'A per cent. £108 15/. " Unofficial—Silknit, 15/. TREND OP MARKET The following table indicates the fluctuations in the values of various securities:— BANKS

SALES COiMPLETED Sales • completed on the Auckland Stock Exchange at the 3 p.m. call yesterday were:— National Bank of N.Z.. £2 10/ (£2 9/9); Commercial Bank Australia, 17/ (16/9); Taupiri Coal. £1 4/6 (£1 4/3); British Tobacco, £2 8/; McKenzies, £2 3/. Liberty Loan, 15/9/52-55, 3 p.c, £99 12/8. Last sale price In parentheses where changed.

Feb. 6. Jan. 28. Feb. 5. 1942 1943 1943 £ s d £ s d £ s d Commercial *13 3 16 9 17 0 National, N.Z 1 19 3 2 9 9 2 10 0 New South Wales . 27 2 6 *30 15 0 **30 10 0 New Zealand 118 8 208 *2 16 MISCELLANEOUS N.Z. Insurance .... 350 3166 *3 17 0 South British «2 17 6 J A c I *2 0 0 *2 10 0 *2 10 0 Broken Hill Fty. .. 1 14 B *2 2 6 *2 2 0 Bycrofts 2 5 0 '2 7 0 Mt. Lyell 143 193 193 Auckland Gas .... 66 ? * „ ' J Farmers' Trading . *1 0 9 1 1 8 *1 .1 8 Dom. Breweries ... 18 3 Hi S N.Z. Breweries 1 13 6 *1 16 3 l 1/ J G. J. Coles 2 15 0 *2 19 0 2 9 « Wilsons Cement ... _tl§ 0 18 9 18 8 Colonial Sugar 45 5 0 . 63 10 0 53 15 0 Woolworths— ■ N 2. 14 6 15 3 16 0 Sydney 15 0 17 9 17 9 GOVERNMENT STOCK 1952-55 *105 5 0 106 7 6 106 7 6 J943.46 T102 10 0*10110 0*10115 0 *101 0 0 102 10 0 102 10 0 War Loan,"1953 .. 86 17 6 *94 0 0 *94„ .0 0 * Buyers, t Sellers, t Ex. dividend.