WEEK REVIEWED

Auckland Star, Volume LXXIV, Issue 294, 11 December 1943, Page 3

WEEK REVIEWED

INVESTORS KEEN

INSURANCES GAIN* £1,750,000 Investment conditions adherer! closely to the trend of recent weeks on the Auckland Stock Exchange this week. Pressure of funds continues to exert, a major influence on the market, and steadily declining yields among many first-class securities' have evidently not reached a stage where demand is retarded. Turnover was only moderate since Monday, and sellers of a "wide range of lines are unwilling even to quote tinless buyers are prepared to move above late levels. Government stocks are still one of the strongest and most active sections. Three per cent issuer obtainable at a discount exercise a particular appeal, and trading was again substantial in the 1953-5G Third Liberty Loan stock this week. First payment of interest on this stock will be made on Wednesday next. Two or three medium-dated local body debentures came on the market, and commanded good premiums. There were few changes in the banking group, but Bank of New Zealands enjoyed a keener demand with sales up to £2 2/0 and sellers quoting ]/ higher yesterday. The soaring prices for insurance shares were again a highlight of the week's trading. Both New Zealands and South British, under the stimulus of a spirited, unsatisfied demand, jumped to new records of £4 (V and £3 IG/ respectively. Since the beginning of the year appreciation in the shares of these com-* panics has been in the vicinity of £1.750.000. or over two-thirds of paid capital. Over the same period the yield of N.Z. Insurance shares has dropped from £3 4/11 to £2 16/2 and on South British from £2 in/ to £2 12/6. In a limited turnover the tone among miscellaneous Dominion shares was steady. Buyers greatly outnumbered sellers, but they were content to sit on their reserves for the time being, although market favourites were in firmer request. Improved stock outlook has encouraged the demand for retail stores, which have made strong progress in recent weeks. McKenzies, G. J. Coles and the various Woolworth issues all figured in a lift with offerings strictly rationed. Farmerfinance shares were constantly sought, but the only deal was a transfer of Farmers' Auctioneerings (£1 paid) at £4 19/, the highest level for many years. Among Australian securities, apart from the gain in retail stores mentioned, values were mostly steady. Colonial Sugars reached £57 10/. which compares with a low level of £30 last year and £53 earlier this year.

IiATEST SAT/ES Sales since last review are:— Banks. —Australasia. £9 5/ (2); N.Z., £2 2/6: N.S.W., £33 15/; Union, £7 13/ (3); Commercial ot Sydney, £21. Insurance.—National, £1 4/9 (3); Standard, £3 IS/; South British, £3 16/; N.Z.. £4 9/. Australian and Overseas.—Kauri Timber. £1 6/9: Broken Hill Pty.. £2 4'5, £2 4/6; Colonel SUEar. £57 10/ (3); Woolworths (Syd.). 19/2 (2), 19,8 (3); Woolworths (Syd.) (2nd pref.), £1 10/3; Selfridees (A'asia). £1 4/ (2); G. J. Coles, £3 1/; Electrolytic Zinc. £2 16/3 (ex dlv.): Loan and Mercantile, £47; Woolworths Hcldmss, £1 Mining.—Martha, 9/, 9/1; Mt. Lyell. £1 9/9; Placer Development, £3 11/6; Waihl Investments, 5/ Dominlon.—Dominion Breweries. £1 19/9 (cum div.); Forest Products. 8/3; Sanford. 7/; Auckland Gas 7'4' Wilsons Cement. 19/1 (2); Dominion Investment. £1 3/ (2); M.K. Manufacturers. 6/9 (3); Traders' Finance (con.), 6/3 (3); Ttmara Woollen. £1; Union Oil and Soap, £1 9/6 (odd lot); Northern Steam (con.), 2/9; paid. 10,8; Rotoiti Timber, 8/6; Parker Lamb, 3/9; Auckland Laundry, 19/; Farmers' Auctioneering (£5 paid). £4 19/; Woolworths (N.Z.), 18/I','s < 2 )- Loans and Debentures. —Stock, December, 1953-56, 3 per cent, £99 2/6 (7); Stock, 1952-55, 3 per cent, £98 10/; Stock. 1952-55, 4 per cent £107 10/; Stock, May. 1953-56, 3 per cent £98 2/8. Stock. 1943-46. 4 per cent. £.101 15/. Stock, 1947-49, 2Vz per cent, £97 2/6 (2)'. 1951-54, 3 per cent, £99: Stock. 1953. per cent. £94 5/; Stock, 1946-49. 4 per cent. £102 10/, City of Auckland, 1950, 4>/ 4 per cent. £105 15/: Hamilton Borough. 1953, cent, £103 15/, 1971, 3Va per cent, £98 5/. Unofficial.—Whakatane Paper, 3/9. TREND OF MARKET The following table indicates the fluctuations in the values of various securities:— banks

SALES COMPLETED Sales completed on the Auckland Stock Exchange at the 3 p.m. call yesterday were:—Farmers' Auctioneering (£1 paid), 16/6 (16/8). > Last sale price in parentheses where changed..

Dec. 11. Dec. 3. Dec. 10. 1942 1943 1913 £ s d £ s d £ s d Commercial 15 3 17 7 *17 7 National, N.Z 2 8 6 2 4 0 2 14 0 New South Wales . *30 5 0 33 15 0 33 15 0 New Zealand 206 226 2 2 6 MISCELLANEOUS N.Z. Insurance .. 3 17 0 * 8 0 4 9 0 South British .... '3 7 0 *3 14 0 3 16 0 A c j 2 9 6 *2 15 0 *2 15 0 Broken Hill Pty. . 206 2 4 6 2 4 6 Reid Rubber J1 5 0 1 10 0 *»1 8 0 Mt. Lyell 19 0 1 2 ? 1 2 I Auckland Gas 7 0 7 4 7 4 Farmers' Trading . 120 1 .X i; Dom. Breweries .. tl 11 0 1 19 9 tl 18 3 N.Z. Breweries .... 1 14 6 *1 18 3 *1 18 6 G. J. Coies 2 17 0 306 310 Wilsons Cement .. 18 4 19 1 19 1 Colonial Sugar .. 52 0 0 57 2 6 57 10 0 Woolworths — _ ,,, N.Z 14 10 *17 6 18 Hi Sydney tl5 10 *19 3 19 0 GOVERNMENT STOCK 1952-55, 4 p.c. tl08 0 0 107 10 0 107 10 0 1943-46, 4 p.c. ... 100 17 6 101 12 6 101 15 0 1953-57, 3>,i p.c. . 104 0 0 103 10 0 *103 10 0 1953 2',i p.c 94 0 0 *94 0 0 94 5 0 1952-55, 3 p.c 99 10 0 98 10 0 93 10 0 * Buyers, f Sellers. :■ Ex dividend.