WEEK REVIEWED

Auckland Star, Volume LXXIV, Issue 228, 25 September 1943, Page 3

WEEK REVIEWED

ACTIVE SHARE DEMAND INTEREST IX FARM COMPANIES Investors maintained an active demand for shares on the Auckland Stock Exchange this week, and election uncertainties failed to disturb the even tenor of trading or the steady market obtaining for most approved securities. Throughout the official list sellers remained more numerous, but the majority stood pat on fairly high reserves. A typical instance of this was in the case of Bycrofts, an Auckland issue usually very firmly held and in short supply, and there was no movement in either buying or selling quotations.

Banks were well represented in listed business, and the easier trend in New Zealands and Commercials of Australia seemed to be accentuated. Other banking issues were steady. A much quieter tone ruled for insurances, for which the demand was firm, but with buyers considerably less eager than a few weeks ago. A larger proportion than usual of Australian counters has been coming on to the market, and there was quite a useful turnover in these issues this week at mostly unchanged prices. General Industries, the large holding company for the various Metiers products, was a newcomer to the sales list. Selfridges (A'asia), which had been quiet for a month, advanced ]/ to £1 4/6, but Sydney Woolworths were slightly easier. Taranaki Oil Fields continued the hardening trend.

Shares in farmer-finance concerns again achieved prominence in transactions in miscellaneous Dominion issues, ranging from North Auckland Farmers' Co-op, in Hie north to N.Z. Farmers' Co-op, in the south. Canterbury Frozen Meat scrip, a rarity on the Auckland market, also changed hands. Sellers of Reid Rubbers have quoted sparingly lately, inducing bids to rise to tl 7/& Yesterday a holder asked £1 9/. No biftmess has yet eventuated in the contributing shares, for which the market ranges between 10/ and 11/3. The week has seen fresh advances in Consolidated Bricks, Taupo Totaras and N.Z. Refrigeratings and further improvement in Dominion Breweries. Elsewhere the tone generally was steady. Inquiry for Government stocks was well spread, and the turnover comprised mostly war loan issues. The market had a brighter tone. Some local body offerings attracted attention, and the premium of £11 secured on a long-dated power board debenture was the highest noted for a long period.

LATEST SALES Sales since last review are:— Banks.—Union, £7 13/6; N.Z., £2 1/M (2). £2 1/9; N.Z. (D Mortgage), £1 12/: Com. of Aust., 16/6; Com. of Sydney, £21; E. S. and A., £3 19/6 (2); National, N.Z., £2 10/. Insurance.—South British, £3 13/; N.Z., £4 5/ (2). Australian and Overseas. —G. J. Coles, £3 I/; Taranaki Oil Fields, 4/, 4/6, 4/3 (2); Broken Hill Pty., £2 5/ (2); Colonial Sugar, £57 15/ (3); Aust. Consolidated Industries, £2 16/ (4); Woolworths (Sydney), 17/9 (4); General Industries, £1 3/ (2); Selfridges (A'asia), £1 4/6; Swan Brewery, £1 5/3; P. and O. deferred, £2 (odd lot). £2; British Tobacco, £2 776. Mining.—Broken Hill South, £1 6/6 (2); Mount Lyell, £1 10/6. Dominion.—Abraham and Williams. 10/; McKenzies, £2 7/6 (4); N.Z. Paper Mills, £1 18/3; North Auckland Farmers (A pref.) (cum div,), £1; North Auckland Farmers (B pref.), 14/6, (cum div.), 14/ (ex div.); Auckland Gas. 11. con.. 2/11; N.Z. Breweries. £1 16/6 (2); Farmers' Trading. £1 3'3; Taupo Totara, 7/4; Farmers' Auctioneering (£5 paid). £4 16/, £4 16/6; Newton King (pref.) (cum div,), £1 0/6, ord., 3/; N.Z. Refrigerating. £1 61; Consolidated Brick, 9/4, 9,6; Dominion Breweries, £1 17/9 (2); Canterbury Frozen Meat. £14 17/6; N.Z. Farmers' Co-op. (A prel.), £2 18/6 (2); Northern Steam, 9/4; Wilsons Cement, 18/9; Woolworths (N.Z.), 16/7; Northern Roller, £1 2/3; Traders' Finance (con.), 5/1. - Loans and Debentures. —Stock, 1947, 2'/ 2 per cent, £97 5/: Stock, 1951-54, 3 per cent, £98 (2); Stock, 1952-55, 3 per cent, £97 12/6; Stock, 1943-48. 4 per cent. £101 2/6; Stock, 15/12/53-56. 3 per cent, £9B 2/6 (2); Stock, 1948, 2'i per cent, £97 12/6; Waipa County, 1/2/55, 4'i per cent, £107 10/: Auckland Gas (perp. deb.), 3'/a per cent. £86 15/: Auckland E.P.8., 15/6/59, 4'i per cent, £111; Auckland City, 1/1/44-60, 3','a per cent, £101. Unofficial.—Aluminium Utensils (pref.), £1; Selfridges (N.Z.), 8/9. 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:—Bank N.Z., £2 1/9; P. and O. (def.) (odd lot). £1 19/6 (£2); Oamaru Wool, £1 6/6 (£1 3/); Tooths Brewery, £2 16/ (£2 15.9); Broken Hill Proprietary, £2 5/; Colonial Sugar, £57 15/; N.Z. Farmers' Fertilizer, £1 1/ (£1 0/9); Taranaki Oil Fields. 4/6; Woolworths (N.Z.), .16/8: Stock, 15/12/53-56, 3 p.c, £98 2/6; Stock, 15/2/43-46. 4 p.c, £101 2/6; Stock 15/4/46-49, 4 p.c, £103 17/6 (£lO3 7/6); 8111010, £3 18/ (£3 12/6). Last sale price in parentheses where changed.

BANKS Sept. 25. Sept. 17. Sept. 24. 1942 1943 1943 £ s d £sd £ s d Commercial 14 11 Uβ 8 16 6 National, N.Z. . . *2 3 9 2 10 0 2 10 0 New South Wales . 29 10 0 33 15 0 33 15 0 New Zealand .. 200 2 2 e 219 MISCELLANEOUS South British ".'. 13 2 9 3 13 3 3 13 0 A.C.I +2 7 3 2 16 0 2 16 0 Broken Hill Pty. . tl H 0 253 250 Reid Rubber. 120 *170 *176 Mount Lyell 179 110 6 110 6 Auckland Gas 6 4 7 0 »7 0 Farmers' Trading . 106 133 *1 3 3 Dom. Breweries ..'17 0 1 17 7>/ 2 1 17 9 N.Z. Breweries .. 1 13 10 1 16 6 1 16 6 G. J. Coles '3 12 0 310 310 Wilsons Cement .. 17 3 18 9 18 9 Colonial Sugrar .. 50 0 0 57 15 0 57 15 0 Woolworths— N.Z 15 2 16 3 168 Sydney tl5 11 is o 17 a GOVERNMENT STOCK 1952-55 107 5 0 *106 0 0 *106 0 0 1943-46 »100 2 6 »101 0 0 101 2 6 1953-57 103 10 0 »102 5 0 »102 10 0 War Loan, 1953 .. 92 10 0 93 10, 0 "83 12 6 * Buyers, t Seller*.