WEEK REVIEWED

Auckland Star, Volume LXXIV, Issue 108, 8 May 1943, Page 3

WEEK REVIEWED

SHAREMARKET PROGRESS INDICES INDICATE TREND Resumption of operations on the Auckland Stock Exchange after the Easter vacation was marked this week by a healthy demand for most classes of securities, with values very firm and tending upwards. The progress of the sharemarket during the war is well depicted in a statistical summary just received from the Reserve Bank. With 1000 in 193S taken as a base, the indices show that all groups of shares stood in 1942 at 1010, compared with 1001 in 1941, 999 in 1940 and 952 in 1939. The greatest strength last year was shown by woollen shares (1418), insurances (1232) and frozen meat shares (1151). Other groups are: Gas 782, timber 1050, minerals 984, miscellaneous industrials (including breweries) 996, banks 895, loan and agency 895, miscellaneous other 1043. Since the close of last year there has been an accentuation of the lift in values so that the indices quoted above would to-day be considerably higher. Sellers were calling the tune consistently this week and closed only when buyers were prepared to meet or exceed recent advanced rates. Banks were steady with no important changes. Among insurances a feature was the keen demand for South British, which finished at 1/6 firmer at £3 9/6, and more wanted at that figure. New Zealands were firm at £4, the peak level, and Nationals indicated a firming tendency. Industrial issues,, both Australian and New Zealand, were in steady'request, and a fair amount of business was completed. Highlights of the week included a deal in Huddart-Parkers at £2 10/6, their best price for over two years, a fillip in the woollen section with Kaiapois selling at £1 2/, the highest level for a long time, and forward movements in Woolworths (N.Z.) prefs., Fletcher Holdings prefs., Radio (1936), Renown Collieries, Rotoiti Timbers, and Forest Products. Auckland Gas shares were in good demand on a rising market, and it was evident that the present gas crisis has brought home to investors the value and importance of this product in the industrial field. Inquiry spread also to southern gas undertakings. A considerable turnover was listed in Government stocks, which found a plentitude of buyers at late rates. Long and medium dated lines were in special favour, including the 3 per cent and 21 per cent war loan issues. An Auckland local body debenture maturing in 1952 and bearing interest at 4V* per cent brought a premium of nearly £7. LATEST SALES Sales since last review are:— Banks.—N.Z., £2 1/ (4); National or N.Z., £2 11/6 (2); N.S.W., £32 10/ (2); Union, £7 13'. Insurance.—N.2l.. £4 (4); South British, £3 Australian and Overseas.—Woolworths (Syd.), 16/; British Tobacco, £2 7/9; Colonial Susrar, £55 15/ (cum. div.). £55 5/ (ex div.); Selfridges (A'asla), £1 1/6; Broken Hill Pty., £2 l/T/a (ex div.); Huddart-Parker, £2 10/6; Henry Jones, £2 il/9. Mining.—'Martha. 10/4; Mt. Lyell, £1 8/9. Dominion.—Auckland Gas, 7/1, 7/2; Macky Loean. £1 8/6 (ex div.) (2); Woolworths (N.Z.) (pref.), £2 (2); Farmers' Trading. £1 2/1 (2); Fletcher Holdings (pref.). £1 6/; Wilsons Cement 18/ (4); Renown Collieries, 10'3 (2); pref.. 3/; Claude Neon (N.Z.). £1 6/ (4): M.K. Manufacturers, 7/, 7/1 (2); Kaiapoi Woollen, £1 2/; N.Z. Forest Products. 4/6. 4/8; Rotoiti Timber. 5/; N.Z. Newspapers (odd lot), £1 15/4 (ex div.), £1 15.4; Sanford, 5/4 (odd lot). 5/5; Newton King (pref.). 17/; Kaiapoi Woollen (con.). 8/ (odd lot). Loans and Debentures.—Liberty Loan, 1953-56, 3 per cent, £99 10/ (4); Liberty Loan. 1948, 2V2 per cent. £98 10/; Liberty Loan. 1947, 2", i per cent, £98 2/6; War Loan, 1953. £94 10/; Bonds, 1946-49, 4 per cent. £102 5/; Stock. 1949-52, 4 per cent, £105 15/; Stock, 1946-49. 4 per cent, £102 5/; Stock, 1957-60, 3" 4 per cent, £101 10/; Mt. Roskill Road Board, 1952, 4>i per cent, £106 17/6; Auckland Gas (perp.' deb.), 3V 2 per cent, £87 10/. Unofficial.—Modern Shoes, 12/; Auckland Farmers' Freezing, £1 3/. TREND OP 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:—National Bank N.Z., £2 11/6; Radio (1936). 14/6 (13/9); Mount Morgan. 10/6 (10/3); Stock. 31/5/54-58. 4 p.c, £108 7/6 (£108); Auckland Gas (perp. deb.), 3',i p.c, £87 10/. Last sale price in parentheses where changed.

BANKS May 8. April 22. May 7. 1942 1943 1943 £ s d £ s d £sd Commercial *13 9 16 6 16 6 National. N.Z '118 9 2 11 6 2 11 6 New South Wales . 27 5 0 32 10 0 32 10 0 New Zealand 118 9 *2 10 210 MISCELLANEOUS N.Z. Insurance ..'3 33 3 19 9 400 South British T2 15 0 '3 8 0 3 9 6 A.C.I "119 6 2 10 6 *2 11 0 Broken Hill Pty. . 1 12 6 *2 1 0 JJ 1 71/2 Reid Rubber 123 169 169 Mt. Lyell *136 180 189 Auckland Gas ... 7 0 7 0 7 2 Farmers' Trading ,»106 121 121 Dom. Breweries . H 7 0 1 14 6 I 14 6 N.Z. Breweries .. +1 12 0 tl 17 3 tl 17 6 G. J. Coles 2 7 0 *2 15 0 «2 15 0. Wilsons Cement. .. *17 0 18 0 18 0 Colonial Sugar .. t45 0 0 55 15 0 *55 5 0 N.Z *12 8 tlS- 6 '15 0 Sydney 13 9 16 0 16 0 GOVERNMENT STOCK 1952-55 108 0 0 "107 0 0*107 0 0 1943-46 100 12 6 *100 15 0 *100 15 0 1953-57 *103 5 0 103 12 6 103 12 6 War Loan, 1953 .. 90 10 0 94 10 0 94 10 0 ♦ Buyers, t Sellers, t Ex dividend.