Commercial News

Auckland Star, Volume LXXIV, Issue 37, 13 February 1943, Page 3

Commercial News

WEEK REVIEWED

HIGHER SHARE PRICES

BANKS, INSURANCES GAIN

Investment conditions in Auckland this week showed little change, and there was no interruption to the steady strengthening of the market. Once again buyers had to raise their reserves, in some cases substantially, to tempt holders, and total turnover was below the weekly average since the new year began. Allied progress in New Guinea and the Solomons gave some fillip to the already confident tone, while a straw in the wind was renewed inquiry for shares in Island trading concerns and goldmines, which have been directly affected by the Pacific hostilities. A highlight in the week's trading was the spurt in New Zealand Insurances, which, at £4, have gained 3/ since the holiday, not allowing for payment of the dividend. Supplies had bieen conspicuously short for many days. Banking issues were also firmer, with New Zealands selling at £2 2/, the best price since early in the war, although they reacted slightly later. New South Wales, holders of which declined to quote for a long time, made a strong advance, while Commercials and Nationals of New Zealand shared in the upswing in. values. Notable among sales of Australian issues was the sharp rise in Colonial Sugars to £55 15/, compared with £51 10/ at the beginning of November. A late sale showed a slight decline. Orders flowed freely for approved Dominion securities, especially industrials, but with margins fairly wide less business was written. Values were steady to firmer. Woollens were represented by dealing in Kaiapois at £1 1/, a gain of 1/3 since December. Departmental stores were again sought, and Farmers' Tradings and Woolworths appreciated further. There was moderate trading in giltedged stocks, several parcels of 4 per cents changing hands at improved premiums, with 3 per cent Liberty Loans, active not far below par. There was little doing in the mining market owing to the wide disparity in buying and selling quotations for most issues. LATEST SALES Sales since last review are:— Banks.—National N.Z., £2 10/, £2 10/6; Com. of Aust., 17/ (3), 17/1; Com. of .Aust. (pref.), £10 2/6; Nat. of Australasia (pd.), £12 (3); N.Z., £2 2/, £2 1/9; N.S.W., £31 7/6, ditto Syd. "fnsurar fe?—National, ,£1 1/9; South British, £3 10/ (2), £3 10/3 (2); N.Z., £3 18/6, £4, £3 19/6. £4. Australian and Overseas. —British Tobacco, £2 8/ (3); Woolworths (Syd.), 17/10 (2), 17/11 (2); Colonial Sugar, £55 5/, £55 10/ (2), £55 15/; Broken Hill Proprietary, £2 2/. . Mining.—Waihi Investments, 4/; Broken Hill South, £1 6/; Emperor. 14/. Dominion.—Taupiri Coal, £1 4/6; McKenzies, £2 3/ (2); N.Z. Forest Products, 4/. ditto pref., 8/1; Renown Collieries (pref.), 2/10; Peter's Ice, 16/6, 17/; Farmers' Trading, £1 1/9; Newton King (pref.), 17/ (2); Dominion Breweries, £1 14/ (2); New Zealand Breweries, £1 17/6 (3); Kaiapol Wool (pd.), £1 1/; Grey and Menzies, 14/; Woolworths (N.Z.), 16/1 (2); Sanford. 4/10; N.Z. Farmers' Fertilizer, 19/6; Wilsons Cement, 18/10. Loans and Debentures.— Liberty Loan, 1952-55, 3 per cent, £99 12/6 (4); Liberty Loan, 1948, 2'i per cent, £98; Liberty Loan, 1953-56, 3 per cent, £99 5/ (3); War Loan, 1953, £94 7/6 (2); Stock, 1953-57, 3Va per cent, £102 10/; Stock, 1943-46, 4 per cent, £102 (2); Stock, 1952-55, 4 per cent, £106 10/. Unofficial. —Whakatane Paper, 1943, 5Vx per cent. £89; Pacific Forests, 5/; Walker and Hall (N.Z.), 19/6. TREND OF MARKET The following table indicates the fluctuations in the values of various securities: —

SALES COMPLETED Sales completed on the Auckland Stock Exchange at the 3 p.m. call yesterday were:—South British Insurance, £3 10/3; Newton King (pref.), 17/; Howard Smith, £1 4/6; Radio (1936), 13/3 (13/); Robinson Ice Cream, £1 4/6 (£1 2/6); Colonial Sugar, £55 10/ (£55 15/); Woolworths (N.Z.), 16/1; Woolworths (Sydney), 18/ (17/11), Peters Ice, 17/; Liberty Loan, 15/9/52-55, 3 p.c., £99 12/6; Liberty Loan, 15/5/53-56, 3 p.c., £99 5/; stock, 15/1/53-57, 3>/ 2 p.c., £102 15/ (£ 102 10/); Auckland Gas (perp. deb.), 3'/ 2 p.c., £88 10/. Last sale price in parentheses where changed.

BANKS ' " '; " ; Feb. 13. Feb. 5. Feb. 12. 1842 -1943 1943 £ s d £ s d £ s d Commercial *13 0 17 0 17 1 National, N:Z. ... 1 19 3 2 10 0 2 10 6 New South Wales . *25 10 0 *30 10 0 31 7 6 New Zealand 1 18 9 *2 16 2 1 9 MISCELLANEOUS . t N.Z. Insurance ' .. 3 5 0 *3 17 0 4 0 0 South British ... 2 18 0 3 0 0 3 10 3 A.C.I *1 18 6 *2 10 0 *2 10 6 Broken Hill Pty. . 1 13 6 *2 2 0 2 2 0 Bycrofts 2 5 0 2 8 9 *2 8 0 Mt. Lyell *1 4 3 1 9 3 «1 <( 9 3 Auckland Gas 6 6 7 8 + 6 0 Farmers' Trading .*109 *118 1 1 9 Dom. Breweries .. *1 9 0 1 14 0 1 14 0 N.Z. Breweries ... *1 13 6 1 17 3 1 17 6 G. J. Coles 2 14 9 2 19 0 *2 18 6 Wilsons Cement .. 17 11 18 9 18 10 Colonial Sugar .. 10 0 53 15 0 55 10 0 Woolworths— , N.Z 14 4 16 0 IB 1 Sydney tl* 0 17 9 18 0 GOVERNMENT STOCK 1952-55 .... 106 0 0 106" 7 6 106 7 6 1943-45 . . 102 7 6 *101 15 0 102 0 0 1953-57 ' • • *101 0 0 102 10 0 *102 10 0 wfr Loan, 1953 .. 87 0 0 *94 0 0 *94 0 0 * Buyers, t Sellers, t ex. div.