WEEK REVIEWED

Auckland Star, Volume LXXV, Issue 232, 30 September 1944, Page 3

WEEK REVIEWED

STEADIER SHAREMARKET

GILT-EDGED TRADED FREELY Vv'ith more sellers prepared to accept the lower set of values recently established for general investments, turnover expanded on the. Auckland Slock Exchange this week and prices were much steadier. In several directions thsre were signs that the easing trend had been halted and some further progress towards recovery was noted. Buyers remain silent, however, for a wide range of shares which had formerly been the subject of active inquiry and brokers are understood to be finding it increasingly difficult to assess market prospects.

In the banking group the main feature was an improved demand for New Zealands, which closed at £2 4/10, a gain of 7d during the week. Other issues were unchanged. Rigid limits curtailed normal activity In insurances, and apart from one sale of South British the only business was in Nationals at £1 4/3, representing a small recovery. The majority of the miscellaneous shares exchanged brought late levels, but there were a few changes of interest. Declining demand for woollens was reflected in sales of Oamaru Woollens at £1 8/, and later at £1 7/6, a fall of 3/6 on the June valuation. Other easier movements were recorded in United Buildings, Dominion Breweries, Woolworths (N.Z.), N.Z. Refrigeratings, Farmers' Tradings and Wilsons Cements. Reid Rubbers exhibited a fluctuating tendency, but gas shares were firm. There was "some activity in Fletcher Holdings, ample supplies being available at late rates. Farmer-finance issues were quoted regularly, but this section was quieter than for some time. Australian leaders were mostly firm, with the exception of Morts Dock and Colonial Sugars, which sold down to £57 5/, the lowest price since the end of June.

Allowing for the short week as a result of the holiday on Monday, there was a substantial turnover in Government issues at generally unchanged values. The bulk of the business concerned war loans, but a number of transfers were effected in 4 per cents, which to-day return very little more on outlay than the lower-interest lines. TREND OP MARKET The following table gives the prices of various securities a year ago, the current price or nearest quotation, and the yield which, in the case of loans, Includes redemp' ! on:—

Tobacco, £2 8/6; Colonial Sugar, £57 6/j_ Woolworths (Sydney), £1 0/10; Morris Hedstrom. *» 8/; G. J. Coles, £3 9/. • ~.. „* Mlning.-New Occidental. .M/j Martha 9/6 Mfc. Morgan, 7/9 (4). 7/10; Mt. Well. £1 11/. Dominion.—United Building (Auckland). £13/». Oamaru Woollen, £18/; Fletcher Holdings (rtd), £1 6/ (5). new. £1 6/ (2); Milne and Choyce, Hi 10/ (2): Reid Rubber, £1 8/, £1. 7/»i; Woolworths (N.Z.). £1 0/10 (4); Dominion Breweries. £2 3/3 (2); Renown (pref.), 2/9; Gear Meat, £1 6/; N.Z. Refrigerating (paid). £1 V. Arcade, 14/10: Wilsons Cement. 19/3; ■*™* Sa si Gas (con.), 3/3, paid, 8/; N.Z. Breweries, S3 2/(2); Consolidated Bric£ 10/3: _a-"J d **r Tlngey (pref.), £l»/f; T an ?" a B§£ 6/6; Radio (1936), 18/6; J. J. NlV" 1 . £l w ** Shariands (ord.), £1 12/ (odd lot). Loans and Debentures.-Stock, 1952-SS, 4 Pg cent, £105 12/6. £105 17/6, fcIWJWS. ««* 17/6 (2); stock, 1947-49. 2>,4 per cent. WW (3); Stock, December, 1953-56, 3 per cent. £98 2 £98 2/6 (5); Stock, 1953.214 P« CMXtjSM (3): Stock. 1946-48, 3 per cent £|8 «/. stock. 1949-52, 4 per cent, £104 5/ (3): Stock. 1952-55. 3 ner cent £97 10/ (2): Stock, May, 1953-56.. 3 per cent £98 5/: Stock. IMT Jli W ««*f £98: Bonds, 1952-55. 4 per cent. £105 17/6. Henderson Town 1961, «4 Per cent. £IM. Auckland Gas (perp. deb.), 3'/ 2 per cent. £87 IW. SALES COMPLETED Sales completed on the Auckland Stock ExchangJ at the 3 p.m. call yesterday, "Ith previous sa» prices, where changed, in parentheses, are as follow: Auckland Gas. 8/; Oamaru Woollen. £1 7/6 (£1 8'): Consolidated Brick. 10/3. O. J. Coles, £3 9/; Morris Hedstrom. £2 8/: M ort» Dock. £1 6/; Woolworths (Syd.), £1 0/10: Mt. Morgan, 7/10; Stock. 15/6/47-49, 2»4 !»•••»-fig* ,% Mount Eden Borough, 1/4/54-59, 4i p.c, £109 7/B.

BANKS Yield on | latest Oct. 1. Sept. 29. Price 1943 1944 or quote. £ ' s d £ s d £ s d Commercial 16 7 18 3 3 13 1 National, N.Z. ... 2 10 0 '2 15 0 2 IS 8 New South Wales .34 5 0 35 00 387 New Zealand 220 2 4 10 325 MISCELLANEOUS N.Z. Insurance .. 446 *4 83 2 16 8 South British 3 13 0 3 18 0 2 11 3 A C.I 2 16 0 2 17 6 2 7 0 Broken Hill Pty. . 250 250 246 Reld Rubber .... »1 80 179 466 Mt. Lyell 1 10 6 1 11 0 13 4 1 Auckland Gas 7 0 8 0 3 15 0 Farmers' Trading . 133 166 3 15 6 Dom. Breweries . 1 18 3 233 433 N.Z. Breweries .. 1 16 6 220 368 G. J. Coles t3 1 O 3 fl 0 2 17 11 Wilsons Cement .. 18 9 19 3 2 7 6 Colonial Suear .. 57 15 0 57 5 0 2 19 4 Woolworths — , N.Z 16 81 0 10 2 8 0 Sydney 17 9 1 0 10 2 17 7 GOVERNMENT STOCK 1952-55, 4 p.c. . *106 5 0 105 17 8 3 5 0 1953, 2 l /s p.C, .. «93 12 6 95 0 0 3 5 0 1953-57, 3>,i p.c. . *102 15 0 102 0 0 3 5 6 1952-55, 3 P.c. . *97 10 0 97 10 0 3 4, 6 * Buyers, t Sellers, t Based on interim dividend at rate per annum, LATEST SALES Sales since last review are:— Banks.—A'asia, £9 6/ (odd lot), £9 6/; N.S.W., £35 (2); N.Z.. £2 4/7, £2 4/9 (3), £2 4/10 (3). Insurance.—National, £1 4/3 (2); South British, £3 18/. Australian and Overseas.—Brofcen HU1 Pty., £2 5/ (3); Electro. Zinc (pref.), £2 17/3; British