WEEK REVIEWED

Auckland Star, Volume LXXVI, Issue 88, 14 April 1945, Page 3

WEEK REVIEWED

buoyant' sharemarket BROKERS ANNOUNCE TURNOVER Resumption of investment business on the Stock Exchange following the Easter vacation has been marked by heavy selling and the turnover during the last week was one of the largest of the war years. However, there has been no weakening in the demand and the market has displayed a readiness to absorb anything offering at around late rates. Government stock has been exceptionally active, but values have remained almost uniformly steady, after allowing for accrued interest. Substantial expansion of trading after Easter is to some extent seasonal, linking up with the close of .the financial year and payment of dividends. It is also likely that a number of large investors are making preparations for taking up parcels of the new loan, necessitating the liquidation of holdings of previous loans. Assessment of the turnover on 'Change will now be considerably facilitated by the action of the local Exchange in falling into line with those in Australia and other centres in the Dominion in disclosing the size of individual parcels of stocks and shares sold. It should be understood that the figures given will not include all investment business transacted, but will embrace all business going through the Exchange. Previously the public was not able to judge by published reports the relative activity of any issue and it was possible for thousands of pounds worth of Government stock to be transferred in one transaction without any indication being given to that effect. The new system will not only enable the total turnover at Auckland to be ascertained, but will also permit comparisons with turnover in southern centres.

Coinciding with advice concerning a hardening in Bank of New Zeal,"aid shares in London there was heavy ouying in the Dominion when the Exchanges reopened and prices rocketed to 12 9/6, but a reaction was later evident and there was a late sale yesterday 3/ lower. Other banks were in steady demand and Nationals of New Zealand rose to £2 15/, nearly touching the highest mark of the war years. Insurances were steady and comparatively quiet, with New Zealands gaining Cd to £4 10/6. Buyers were in the market for a wide selection of equities, not only leading issues, and with more sellers prepared to do business activity over these sections was most pronounced. Interest in breweries was subdued and offers for Dominions were marked back to £2 5/6. Advances were registered by Fletcher Holdings, Reid Rubbers. M.K. Manufacturers and Consolidated Bricks among others, but the majority adhered to late rates. An interesting overseas quotation was United.States Steel Corporation. The mining market was dull, with quotations mainly nominal. LATEST SALES Sales since last review are:— Banks. —Com. of Australia. 17/8 (3). 17/7 (2), 17/6 (3): Com. of Australia (pref.), £10 10/ (3); N.Z., £2 8/6 (2), £2 8/9 (2), £2 9/ (2), £2 9/6; N.S.W., £34 (2): National of N.Z.. £2 15/. Insurance. —National, £1 4/6; N.Z., £4 10/6 (4): South British, £3 19/3. Australian and Overseas. —Kauri Timber, £ 1 9/6 (2): 1.C.1., A. and N.Z. (pref.). £1 6/ <3): Huddart-Parker. £3 2/ (2); £2 5/ (2): Gordon and Gotch, £3 18/ (2); Woolworths (Sydney), £1 2/3, first pref.. .£2 2/; Tooth's Brewery. £3 (4): Dunlop Rubber. £1 5/: Aust. Iron and Steel (pref.), £1 15/3; British Tobacco, £2 }0/. Mlnlnr—Mt. Morgan. 6/6, 6/7 (2). Dominion. —Fletcher Holdings, £1 6 3, £1 6/ (2). £1 6/3 (3), £1 6/4',2 (2): Woolworths (N.Z.). £1 2/6; Bruce Woollen, £1 14/; Auckland Oas. 7/3 (4): M.K. Manufacturers. 8/ (3); N.Z. Drug, £5 0/3; Silknit. £1 5/; Wilsons Cement, 19/1; Farmers' Trading. £1 6/3 (2); K.D.V. Boxes, 12/ (6): North Auckland Farmers' (A pref.), £1 1/6, B pref., 16/10 (2); N.Z. Breweries, £2 4/6 (2); Radio (1936), 18/6; Gisborne Gas. 5/; Devonport Ferry, £t 10/; Consolidated Brick. 10/4: N.Z. Newspapers. £2 4/S; Forest Products (pref.), 10/; Reid Rubber, £1 11/3. Loans and Debentures. —Stock, 1953, 2Vs per cent, £94 2/6 (5); Stock, May. 1953-56. 3 per cent, £98 10/ (5): Stock, 1955-58, 3 per cent,. £98 (6): Stock. 1951-54, 3 per cent, £98 5/ (3); Stock. 1949-50, 2 ! ,f> per cent. £96 10/ (3); Stock. 1946-49. 4 per cent. £102 2/6; Stock. 1952-55. 4 per cent. £105 12/6: Stock, 1947-49. 2',j per cent, £97 15/ (2); Stock. December. 1953-56, 3 per cent. £98 10.', £98 7/6, £98 10/, £98 7/6 (2): Stock. 1960-63, 3 per cent. £97 10/. £97 12/6 (21; Stock. 1949-52. 4 rer cent. £104; Stock, 1947, 2'-i per cent, £98 7/6, £98 10/ (2); Stock, 1952-s*, 3 per cent. £97 15/ (2); Stock, 1954.-58, 4 per cent. £106 15/; A.H.8., 1961. iVt per cent, £111 2/6; A.H.8.. 1959, 4',' 4 per cent, £110 10/; Liberty Bonds, 1949. £1 0/3 (2). Unofficial.—Smith Wylie, 18/ (2); Hellaby's (£5 12/ per cent pref,), £1 5/3. TREND OP THE MARKET The following table gives the prices of various securities approximately a year ago, the current price or nearest quotation, and the yield wliich, in the case of loans, includes redemption:— BANKS Yield on latest April 6. April 13. price 1944 1945 or quota £sd£s d £ s d Commercial 18 8 17 6 3 16 8 National, N.Z. .... 215 6 215 0 214 6 New South Wales . *36 15 0 34 0 0 310 6 New Zealand 246 286 2 17 9 MISCELLANEOUS N:z. Insurance .. 496 4106 215 3 South British .... 317 0 *i 317 6 210 3 A.C.I 2 17 6 |2 15 9 2 8 6 Broken Hill Pty. . 246 2 5 0 245 Reid Rubber 1 11 6 1 11 3 3 16 10 Mt. Lyell 1 14 6 1 10 0 5 0 0 Auckland Gas 7 7 7 4 4 1 8 Farmers* Trading . 167 163 316 2 Dom. Breweries .. 246 f2 8 6 314 3 N.Z. Breweries 220 246 32 11 G. J. Coles 380 396 2 17 6 Wilsons Cement .. *19 11 19 1 2 8 0 Colonial Sugar .... 59 15 0 *57 0 0 2 16 2 Woolworths— N.Z 18 2 1 2 6 2 13 4 Sydney 19 11 n 2 4 213 C GOVERNMENT STOCK 1952-55. 4 P.O. .C'. *106 15 0 105 12 6 3 4 3 1953, 2*2 p.C. .... 94 15 0 94 2 6 3 4 8 1953-57, 3V 2 p.c. .. 103 7 6 *102 0 0 3/4 6 1952-55, 3 p.c. .. 99 0 0 97 15 0 3 4 8 * Buyers, t Sellers. +Ex dividend.

SALES COMPLETED Sales completed on the Auckland Stock Exchange at the 3 p.m. call yesterday, with variations in the price shown in parentheses, are as follow: 20 Commercial Bank of Australia CpreO, £10 30/; SO Bank o£ N.Z.. £2 8/8 (-1/); 75 Standard Insurance. £3 19/8 (+3d); 300 Newton Kins (pre!),' £1 3/3 (+3d); 200 Auckland Gas, 7/4 ( + ld); 100 Tooth's. £3; 200 Farmers - Trading, £1 6/3; 500 N.Z. Newspapers, £2 4/6; 700 Martha, 9/10 (+7d): 250 Mt. Morgan. 6/7; £500 Stoc'fc 1963. 214 P.c., £94 2/6; £2500 1947-49 Stock, 2'/2 P.C., £97 17/6 ( + 2/6); £700 1951-54 Stock, 3 p.c., £98 5/; £5900 Stock. December. 1953-56, 3 p.c., £98 7/6; £4200 Stock. 1955-58. 3 p.c., £97 17/6 ( — 2/6); 300 Reid Rubber, £1 11/3.