Commercial News

Auckland Star, Volume LXXVI, Issue 117, 19 May 1945, Page 3

Commercial News

WEEK REVIEWED

SECURITIES STRONG

MORE OVERSEAS OFFERINGS

Strong, active conditions have marked trading on the Auckland Stock Exchange over the past week, with the accent again on banks, insurance shares and prominent industrials. Supplies of leading investments were offered more freely, but buyers had to conform with sellers' ideas and on the week's dealing the gradual rising tendency in the market was continued. Bank shares have maintained their position, with few changes, and New Zealands were steadier than for some weeks, sales varying between £2 S/ and £2 7/9. Buyers were in the field for all overseas banking issues, but were not prepared to pay any fancy prices. With the end of the war in Europe and an early expansion, in world trade, banking prospects are clearly appealing to a section of the market. National Banks of New Zealand, were exceptionally favoured, with late buyers prepared to pay the advanced price of £2 18/ and sellers silent. Further gains in insurance scrip took: the Auckland issues to new high levels, while the southern concerns. National and Standard, were quoted all week with unsupported buyers. Australian and other overseas shares were most active and a feature of the market was the increase in offerings. Some operators quoted lines which have been off the list for years. Retail stores were always wanted, but vendors mostly held fast to their reserves. Progress to new high points was made by Sydney Woolworths as well as the New Zealand offshoot. The tone for Dominion shares was little changed. Heavy buying o£ Fletcher Holdings was again noted, but there was no weakening on a substantial turnover. Average turnover fell off in the Government loan section, probably a reflation of the Second Victory Loan campaign, but the week's Total was substantially boosted by two transfers of First Victory Loan 3 per cents to southern buyers totalling over £61,000. LATEST SALES Sales since last review are:— Banks.—E.. S. and A., £4 13/3 (2): N.S.W.. £35 5/. £35 (ex div.) (2); N.Z., £2 8/ (2), £2 7/0, £2 8/, £2 7/8, D Mort., £1 8/3; Union, £8 10/ (2): Com. of Australia, 17/8 (3); Com. of Sydney. £21 5/ (5); National of N.Z.. £2 17/6 (2), £2 18/. Insurance.—South British. £1 3/8, £4 4/: N.Z., £4 17/6 (3). Australian and Overseas. —Tooth and Co., £3 (4); Colonial Sugar, £59 8/ (2); Herald and Weekly Times, £3 5/i Woolworths (Sydney), £L 2/9, £1 2/10, £1 3/ (2), 2nd pref.. £1 11/8: 8.H.P., £2 6/3 (2), £2 6/6 (2), £2 6/3 (3); Dunlop Rubber, £1 5/9; Morts Dock. £1 5/. £1 5/6; A.C.1.. £2 16/ (2): Yarra Falls, £2 5/3: Howard Smith, £1 5/3; Henry Jones. £2 11/3; Aust. Foundation Investment, 5/; Woolworths Properties, £1 10/. £1 9/8; Goldsbrough Mort.. £1 11/9; British Tobacco. £2 10/6. Mining.—Mt. L7ell, £1 7/3 (2); Bulolo, £5 Vl North Broken Hill, £2 12/6.

Dominion.—Wilsons Cement, 19/ (7); Devonporfc Ferry, £1 10/6; Farmers' Auctioneering (£5 paid). £5 5/: Renown Collieries. 12/, pref., 2/11: Leyland O'Brien, £1 5/6: Reid Rubber, £1 12/: TaupoTotara, 8/6; Fletcher Holdings. £1 9/6 (7): Northern Steam, 10/6: Consolidated Brick, 10/ L (2): Donaghy's Rope, £3 7/: Auckland Gas (cont.), 3/2: N.Z. Breweries. £2 4/; Milne and Choyce (deb.). £1 10/ (2); N.Z. Guarantee. 4/3>,i: Woolworths (N.Z.). £1 3/1; United Building (Auckland), £1 3/6 (3); Fanners' Trading, £1. 7/6 (2); Frozen Products, 16/6; McKendrick, £1 7/ (2); Dominion Rubber, 15/6. Loans and Debentures.—Stock, December, 1953-56, 3 per cent, £98 10/ (5): Stock. 1955-58. 3 per cent, £98, £97 17/6, £98 (4); Stock. May. 1953-56, 3 per cent, £98 15/; Stock. 1953-55. 4 per cent, "'£los 12/6, £105 15/; Stock. 1953, 2'z per cent, £94 2/6 (2); Stock. 1947. 2V 2 per eent. £98 10/; Stock, 1947-49. 2»i per cent. £98 7/6: Stock. 1949-50, 2Vi per cent. £96 10/; Stock, 1952-55, 3 per cent, £97 15/; Stock, 1949-52, 4 per cent, £102 5/ (2): Stock, 1953-57. per cent, £102 5/; Wool Bonds, 1948, £1 0/8: Ashburton P. 8., 1959, Wa per cent. £109 12/6; Mt. Albert Borough Council, 1951. per cent, £105 10/; Auckland Gas (perp. deb.), 2\z per cent, £87 "'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 whiph, in the case of loans, includes redemption:— BANKS

yield on latest May 19. May 18. price 1944 1945 or quota £sd £ s d £ s d Commercial *18 9 17 9 3 15 3 National, N.Z 215 0 218 0 212 8 New South Wales . 36 16 6 35 O 0 3 8 7 New Zealand 242 280 218 I MISCELLANEOUS N.Z. Insurance ' 490 4 17 6 2 11 3 South British .... 318 9 *1* JJ 2 1 ! A.C.I 217 6 216 0 2 8 S Broken Hill Pty. .. 2 4 6 2 6 3 2 3 * Reid Rubber .... 111 3 112 0 315 O Mt. Lyell I" J Inn Auckland Gag .. J. 6 *§ ° Farmers' Trading . 1 7 0 176 312 9 Dom. Breweries .. 249 *2 8 6 314 3 N.Z. Breweries .. 2 10 2 4 3 3 3 3 G. J. Coles 3 7 0 *3 10 0 217 1 Wilsons Cement .. 1 0 3 19 0 115 4 Colonial Sugar .. 58 12 6 *59 5 0 213 11 Woolworths— , , , , , N.Z 18 6 1 3 1 212 1 Sydney 19 9 1 3 2 312 0 GOVERNMENT STOCK 1952-55, 4 p.C. .. 107 2 6 105 15 0 3 4 3 1953 2 1 , i p.C 95 76 94 26 352 1953-57, 3V 2 p.e. . 104 0 0 102 5 0 3 4 6 1952-55, 3 p.C. .. t99 15 0 97 15 0 3 4 4 »Buyers, t Sellers.

BAX.ES COMPLETED Sales completed on the Auckland Stock Excnaniffi at the 3 p.m. call yesterday, with variations compared with previous sale prices, are as lollop. Com. Bank Aust. (950). 17/9 (4-Id); Bank N.Z. (550) (2). £2 7/11 ( + 2d); Bank N.Z. (50). £2 8/ ( + ld); Auckland Gas (200), 7/6 ( —ld), McKendrick (200), £1 7/; N.Z. Newspapers (470K £2 4/ (—6d); Aust. Foundation (700). 5/, Stock, 1952-55. 3 p.C. (£500). £97 15/; 'Stock, May, 1953-56, 3 p.C. (£800) U), £97 5/ (—3O/): Stocky Dec., 1953-56, 3 p.c. (£3900), £98 10/ ( +10/).' Mt. Albert, 1/7/61, 41 p.C. (£500), £110 10/. •Ex interest.