Commercial News

Auckland Star, Volume LXXVI, Issue 99, 28 April 1945, Page 3

Commercial News

WEEK REVIEWED

SHARES' STRONG FRONT HAUDEXIXG IX INSURANCES Most sections of the investment market continued to show increasing strength this week with the emphasis again on leading industrial issues, but the volume of trading was as a result of the C holiday on Wednesday. The week closed yesterday with a rush of business. Insurance shares have again come to the fore and recent gains of such shares are evidently expecting the market to return to . •, the peak levels attained last year, for they have evinced little interest in current olfers. In the banking section New Zealands ; v were dull on an insignificant turnover, but other issues, notably E., S. and A. and Nationals of New Zealand, recorded gains. Departmental stores have returned to popularity and a sustained demand set in this week for Farmers' Tradings, Woolworths. MeKenzies and other issues. Fletcher Holdings reacted after* their recent sharp advance. Breweries were steady and gas and fertiliser shares moved up. I.oan and agency lines were quiet, sellers quoting sparingly. Woollens showed some recovery. Few important changes were noted in Australian securities for which a steady demand was made. Olfers for Colonial Sugars were again firmer without tempt- - ing holders, and gains in W. R. Carpenter and Morris Hedstrom probably reflected the improved trading outlook in the Pacific islands. An easing in Mt. Lyells followed the trend on the Sydney market, where the shares this week reached their lowest limit. There has been something of. a lull in the Government loan division, where supplies, particularly among 2i per cents, have been inadequate to meet brokers' orders, but some substantial lots were disposed of late yesterday. The bulk of the trading was in 3 per cent Victory Loan stock, for which the price alternated between £97 17/G and £9S. With the exception of one parcel of City Council debentures. this .class of security was virtually oli the market. JjATEST sale plucks Sale prices since last review are:— Banks.—N.Z., £2 8/; Nat. of N.Z., £2 16 9." £2 17/; Com. of Australia. • 17/7, 17/7; Com. of Australia (pref.), £10 10/; E., S. and A., £4 14/: National of Australasia (pd.), £13 2/6. Insurance.— N.Z., £4 .13/, £4 14/. £4 14/6. Australian and Overseas. —Kauri Timber. £1 10/6; 8.11.P., £2 5/; A.C.1.. £2 16/3; British Tobacco, £2 10/; Woolworths (Sydney), £1 2/6. £1 2/7; Woolworths Properties, £1 10/; Loan and Mercantile, £65; 1.C.1.A.N.Z. (pref.), £1 6/; W. 1 R. Carpenter, £2.6/; Morris Hedstrom, £2 8/. Mining-.—Mt. Morgan, 7/. 7/3, 7/5; Mt. Lyell, £ 1 9/6. £19/. Dominion—Reid Rubber (ord.), £1 12/6; Reid Rubber (con. 10/ paid in advance). £1 10/6; Reid Rubber (con.), £1 0/9; Woolworths (N.Z.), £1 2/7, £1 2/10; Kaitangata Coal. £1 8/6; Farmers' • Fertilizer, £1 5/6: Dominion Breweries, £2 7/9. £2 3/; Fletcher Holdings. £f 9/6,- £1 9/; N.Z. Breweries, £2 4/6. £2 4/3; Caro's Stores (pref.), £l 5/6; K.D.V. Eoxes, 11/9; Farmers' Auctioneering .(£5 paid), £5 3/6, B pf., £1 5/3; Union 'Steam (pref.), £1 11/AVz' N.Z. Newspapers. £2 4/6; Farmers' Trading,. £1 7/3; Caro's Stores "• (pref.), £1 5/6; Northern Steam (cont.). 2/11; Auckland Gas, 7/6; Timaru Woollen. 19/6. Loans and "Debentures—Stock, 1949-52, 4 per T cent, £104; Stock, 1947-49, 2Vz per cent, £98; Stock, 1943, 2>/ 2 per cent. £98 15/; Stock, 1949-50. 2*2 per cent, £96 15/; Stock, 1955-58, 3 per cent,/£97 17/6, £93, £97 17/6, £93. £97 17/6; Stock, 1946-49, 4 per cent, £100 10/;. Stock, 1957-00, 3V.% per cent, £99 10'. £100; Auckland City, 1966. 3*4 per cent. £100 5/. Unofficial.—Hellaby's (£5 12/ pref.). £1 5/6; . Winstone (con.), 10/6, 10/9; Southern Cross Assurance, 2/. TREND OF THE 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 redemption:— BANKS yield on latest April 28. April 27.' Price 1944 1945 or quote • £sd £sd £sd Commercial 18 8 17 3 16 4 National, N.Z 2 15 3 2 17 0 2 13 7 New South Wales . 37 2 6 *34 0 0 3 10 6 New Zealand 241 276 2 19 0 MISCELLANEOUS N.Z. Insurance .. 4 9 0 *4 14 0 2 13 2 South British 3 17 3 *4 0 6 2 9 6 A.C.I 2 17 6 2 i 6 3 2 8 0 Broken 1111 l Pty. .. 253 *2 50- 245. Reid Rubber 111 9 1 12 0 3 15 0 Mt. Lyell fl 14 0 X 9 6 5 1 8 Auckland Gas 7 7 .7 6 4 0 0 Farmers' Trading' . "1 6 10 i 7 6 3 12 9 Dom. Breweries .. 2 5 0 2 8 0 315 0,. N.Z. Ereweries 12 2 0 2 4 3 3 3 3 G. J. Coles t3 8 0 *3 9 0 217 11, Wilsons Cement .. 101 19 1 280 Colonial Sugar 59 10 0 *58 5 0 2 14 11 Woolworths— N.Z 18 2 1 2 10 2 12 4 Sydney 19 11 1 2 7 2 13 2 GOVERNMENT STOCK 1952-55, 4 p.c. ..107 5 0 *105 12 6 3 4 6 1953, 2Vz P.c. .... 95 5 0 94 2 6 .3 4 9 • 1953-57, 3Va P.C. .. 103 7 6 102 5 0 3 4 3 v 1952-55, 3 p.c. .. 99 15 0 97 15 0 3 4 9 * Buyers, t Sellers. l SALES COMPLETED Sales completed on the Auckland Stock Exchange . at the 3 p.m. call yesterday, with any variations' compared with the previous sale price in parentheses* are ns follow: Com. Bonk of Aust. (250).. 17/71/2 (4-lad); Bank .of N.Z. (100), £2 7/6.; f—Gd); Farmers' Auct. (£2 paid)- (85), £1 17/3, (-f 1/3); Goldsbroush Mcrt (100). £1 11/6.: Wilcox/ Mofllin. (200). 13/: Oamaru Woollen (430). £1 8/ (+6d); A.C.I. (250). £»2 16,3;- Farmers' Trading (100), £1 7/6 ( + 3d); Fletcher Holdings (100),v----£1 8 3 (—9d): N.Z. Newspapers (525). £2 4/6; rßeid Rubber <100), £1 12/ ( —6d); Stock, 1947, ' 2 j 2 P-c (£1000), £98 10/: Stock. 1947-49, 2 1 . 2 - p.c. (.£2100), £98: Stock, 1949-50, 2 1 / 2 p.c. (£2230) 1 £95 15/; Stock, 1953-57, 3\' 2 P.c. (£400), £102 5/ I ( + 5/).