Commercial News

Auckland Star, Volume LXXV, Issue 42, 19 February 1944, Page 3

Commercial News

WEEK REVIEWED

SHARES MOVE FREELY

BUOYANT TONE CONTINUES On the Auckland investment market this week a substantial turnover was put through at prices which, with few exceptions, represented late rates or further gains. Sellers of industrials were more numerous, but their wares, in many cases, carried reserves well in advance of buyers' ideas. Bidding was particularly keen for all types of Government stocks, and with a choice of nine separate issues ot war loans trading under this heading is much more active than a few years ago. Apart from war loan stock, however, there was little offering. Bank shares again presented a picture of growing strength, and their return to popularity in recent months may be allied to belief in the traditional stability of these institutions as against the uncertain post-war prospects of many trading company and industrial issues. Fresh gains were made this week by Banks of New South Wales, Austral-.* asias and Nationals of New Zealand,** others in this group remaining steady. After a long period of steady appreciation j to record high levels, New Zealand Insurances dropped 9d to change hands at £4 8/9, and South British were without offers at one call yesterday, but later the market was re-established at £3 16/6 (unchanged). Standards and Nationals maintained recent improvement. Business in Australian securities showed a reduction this week, but buying support was very firm. G. J. Coles advanced to £3 5/6, while Colonial Sugars were busy at the new peak of £60. Indicative of the keen demand for Australian shares on the New Zealand market is the following list of current prices on the local exchange, with this week's prices in Sydney in parentheses:—Colonial Sugar, £60 (£sl ,7/); Wool worths (Sydney), 19/6 (17/S); Broken Hill Proprietary, £2 6/6 (£2); Burns Philp, £3 2/6 (£2 14/); Dunlop Rubber, £1 6/ (£1 3/9); W. R. Carpenter, £2 (buvers) (£1 19/). The improved military situation in the Pacific was reflected by the progress in Burns Philps, Morris Hedstrom and W. R. Carpenter, all of which enjoyed a keener demand. In tlrf* Dominion section trading was well spread and demand very firm. Woollen shares had strong buyers, but sellers were largely absent, and in the farmer-finance group Farmers' Auctioneering fully-paid shares moved up to 1/ above par. McKenzies and Bycrofts rose to new wartime high levels. Auckland Gas were firmer near the close, and breweries, though quiet, were strong. Kaiapoi Woollens and Woolworths (N.Z.) easier. In the mining market Mt, L>eiio had improved offers at £1 10/6, no sellers quoting. LATEST SALES Sales since last review are:— Banks.—Com. of Aust. 18/ (5): N.S.W.. £34 7,6 (2). £34 10/. £34 1,6 N.Z £2 3,6 (3), National ot N.Z.. £2 15 3; A'asta, £9 11/. Insurance.—South British, £3 16/6 (3); National. £1 5/; N.Z., £4 9.6 (.2). £4 9/ 1.2), £4 8/9, Standard, £4. Australian and Overseas.—Hsdfields Steel, 12/ (2)- Taranaki Oil Fields, 2 9 (2): Colonial Sugar, £60 (5): G. J. Coles, £3 5,6: Broken Hill Proprietary. £2 6/6; Woolworths (Sydney), 19/6. Dunlop Rubber, £1 6/. Mining—Martha, 9/ (2). Dominion.—Bruce Woollen, £1 14/6: K.D.V. Boxes. 12/ (2); Claude Neon (N.Z.), £1 5/6 (2), Macduffs (pre!.), £1 5/5; Woolworths <N.Z.), 17/11 17/10 (2); Newton King (pre!.), £1 2/, Northern Steam (con.), 2 8; paid, 10-2: Breweries £2 3/ (2); Fetcr s Ice, £1 3 3, Sanlord 7/6 (3); Entricon and Sims (pref.). 16 ; Aucklamj Gas, 7/2 (odd lot) 7/4 (ex div.) Traders Finance (con.), 7/ (2): Taupiri Coal. £1 7/ Consolidated Brick, 10'2; Bycroft, £2 J* lot)' Booth Macdonald (pref.), 10/3 (3). National Electrical, £1 12,; Taupo , To^ r =. Woollen. £1 4/; Farmers' Auctioneering (£1 paid) 17/; Farmers' Auctioneering (£5 paid). £5 1/; Ballins Breweries, 16/6; N.Z. Drug, x. 4 14/. Loans and Debentures. —Stock, May. 1953-56, 3 per cent. £99 7/6; Stock. 1953-57, 3'i per cent £103 7/6 (2); Stock. 1951-54, 3 per cent £99 5/ (3); Stock. 1916. 2>b per cent. £98 10 ; Stock. 1952-55 3 per cent, £100 5/ (2); Stock. 1953, 2i', per cent £96 10/. £95 15/; Stock. 1947-49. sit per cent, £98 (5): Stock. 1952-55. 4 per cent £106 2/6; Stock, Dec., 1953-56, 3 per cent, £99 10/: Pukekohe Borough, 1970 3li per, cent, £102 5/: Auckland Gas (pcrp. deb.), 3,2 per "unofficial.—Whakatane Paper, 10/3. TREND OF MARKET

The following table indicates the fluctuations in the values of various securities:— BANKS Feb. 19. Feb. 11. Feb. 18. 1943 1944 1944 £sd£s d £ s d Commercial ]' J 9is 0 215 6 National. N.Z 2 10 0 1 2 In b New South Wales .. 31 10 0 34 2 6 34 10 0 New Zealani 218 234 236 MISCELLANEOUS N.Z. Insurance 4 0 0 4 9 6 *,5 S South British 310 3 316 6 3 6 6 AC I 210 9 215 6 *2 15 6 Broken Hill Pty. .. « 1 9 ? S S .7 9 o Reid Rubber 1 7 6 1 9 3 1 9 O Mt. Lyell *1 9 o >1 ; 1J? f Auckland Gas .... 6 6 7 4 t7 4 Farmers' Trading . J J J = ® *30 Dom. Breweries ... 1 J 2 3 0 z J u N.Z. Breweries ... 1 ® ? 2 R tsk G. J. coles 219 3 3 5 0 3 5 6 Wilsons Cement .. 1# 10 " o CO 0 0 Colonial Sugar .... 55 10 0 60 0 0 00 u o Wcohvorths- w 3 nu Sydney 17 8 19 6 GOVERNMENT STOCK iqc9_ss 4 D c 10C 12 6 *105 15 0 106 2 6 1943-46 4 pc. t-100 0 0 102 15 0 t«100 0 0 1953-57 jVpc .102 15 0 >103 0 0 103 7 6 9?3 2'i DC 94 10 0 95 7 6 95 15 0 1952155 3 PC .. 99 12 6 100 2 6 100 5 0 , Ex divid( , nd or interest. SATjES COMPLETED Sales completed at the Auckland Stock Exchange at the 3 p.m. call yesterday were:—National Bank N.Z. £2 15/6 (£2 15/3); Burns Philp, £32/6 (£2* 15/3); Bycroft, £2 13/6 (£2 11/3); McKenzies, £2 14/ (£2 10 ); Milne and Choyce (deb. stock), £1 4/6; Wilsons Cement 19/7 (10/6), 19/8: Stock, 15/9/46-48, 3 p.c £ 101 (.£9B 15/), Amalgamated Brick (Auckland). 1/3/44, 6 p.c., £ 105 7/6 (£lOl 5/). Last sale price in parentheses where changed.