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Commercial News

WEEK REVIEWED

SHARES RISE FURTHER

STATE LOANS IX DEMAND

Investors followed sellers' limits over a wide range of shares on the Auckland Stock Exchange this week, resulting in more gains, particularly among Government stocks and industrial Issues. There appears to be a general readiness to accept a lower return on present values in the expectation of higher dividends and fresh capital issues when peace is firmly established. 'Moreover, the marked popularity of short-dated Government issues appears to be allied with a desire on the part of business firms and institutions to utilise their surplus funds in this way at current rates of interest rather than to leave them on fixed deposit. On the other hand, holders desiring to liquidate can secure almost par value for several of the war loan issues.

Offerings of Government stock this week were far below requirements, and buyers were prepared to meet holders considerably more than half-way. Transactions among the older issues were prao tically nil, generally owing to scarcity of supplies. Bank shares appear to have stabilised for a while on solid levels, apart from New Zealands, where some further selling pressure has been evident. Insurances, however, have risen to new heights, and the bulk of the business has been confined to small parcels of 50 shares In the industrial group, most of the market favourites recorded pnee rises, and the bullish trend was extended to woollens and retail stores, which suffered a temporary eclipse a few months ago These are now urgently wanted and' scrip of the Woolworths' companies, McKenzies and Farmers' Tradings was all firmer. Woollen . shares to appreciate were Bruce, Kaiapoi. Oamaru and Timaru. Australian indicator stocks • participated in the upward surge, including Colonial Sugars which struck a record at £61. Sterlingbased shares in the loan and agency division enjoyed ready inquiry, but se'llers were reticent. A feature this week was increased dealing in preference issues, many of which had been relatively neglected. Gas shares showed a rising tendency, and breweries were steady after their recent increment. A section of the market continues to display interest in overseas gold mining scrip. Yesterday there were unsupported buyers for Bulolos at £5 6/ 5/ a few days previously. ~,,, Turnover for the week involved £8172 worth of Government stock and debentures, 17,960 investment shares andl 900 mining shares, compared with 16,600 and 2,100 the previous week.

LATEST SALES Sales since last review are:— Banks.—Australasia, £9 5/ (2): New Zealand £2 9/3 (2), £2 9/4 (3), £2 9/2; National or New Zealand. £2 18/ (3); Commercial °LAustralia, 18/6 (4): preference £101 15/; New South Wales, £34 17/6; .Union, £8 6/9 (2).

Insurance.—South British, £4 8/6 (3); New Zealand, £4 18/6 (4). e/tris if «rETKSKvfsva J/ £13/9- Woolworths Holdings, £1 12/ (2); Dunlop Rubber, £1 7/6; Colonial Sugar, £61. u

Mtataff.— Mount Lyell, £1 8/ (2), £1 8/6 (3>; Rawang Tin, 8/3. Dominion.—Auckland Gas, 7/6 (3), 7/5 (2),.7/8 (2) 7/7; cont., 3/; Taupo Totara (pref.). 10/6; ord., 8/6; New Zealand Breweries. £2 6/6 (2): Macduffs. 16/3 (2) ;• Dominion Brewerira. £2 11/9 (2) £2 12/ (2); pref., £1 12/3; M.K. Manufacturers. 8/5 (3): Sllknlt (N.Z.) £1 8/6; Wilsons Cement, 19/6 (2); North Auckland Formers (B pf.), 18/ (2); Macky Logan, £1 16/: Newton King (pref.), £1 4/6; Devonport Terry, £1 10/6] McKenzles, £3 6/: Moturoa Oil (pref.) 3/6; ord 1/ (2); Bruce Woollen, £1 16/6; Sanford, 8/lo', 9/0; pref., £1 4/6; Forest Products (pref), 11/6 (2); Fanners' Auctioneering (£1 paid), 17/9; B pref., £1 6/6; Fletcher Holdings, £1 12/ (4); pref, £1 11/; Timaru Woollen, £1 0/3: Consolidated Brick. 9/9 (2); New Zealand Refrigerating (cont.), 14/6; Reid Rubber, £1 12/ (3); Dental and Medical, £1 5/: Wcolworths (N.Z.), £1 4/9; Kalapoi Woollen (cont.), 8/6. Loans and Debentures.—Stock, 1960-63, 3 p.c, £96 15/; Stock, 1947. 2Vz p.c, £99 7/6 (3): Stock, December 1953-56, 3 p.c. £97 17/6, £98 2/6: Stock, 1946-49, 4 p.c, £101 7/6; Stock, 1947-49, 2", i p.c, £97 17/6 (2); Stock. 1949-50, 21/2 p.c, £97 12/6, £98; Stock, 1951-54. 3 p.c, £99 2/6; Stock, 1948, 2Vi p.c, £98 12/6; Stock, 1953-57, 3',i p.c, £101 5/; Stock, 1956-59, 3 p.c, £98; Liberty Bonds, 1949, £1 1/; A.H.8., 10/6/S4, 41,1 p.c, £107 10/; Auckland Gas (perp. deb.), 3Vz p.c, £86 10/ (2); Waitemata E.P.8., 1959, 4ti p.c, £111 10/. Unofficial.—Walker and Hall (N.Z.), £1 1/1 Southern Cross Association, 2/6 (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 July 21 July 20 price 1944' 1945 or quote £sd £sd£sd Commercial 0 19 0 0 18 6 3 16 4 National, N.Z. .. 215 0 218 0 211 11 New South Wales . 38 0 0 34 17 6 3 9 8 New Zealand .. 25 7 292 2 17 3 MISCELLANEOUS £sd £sd £sd N.Z. Insurance ..' 414 0 *4 18 9 310 7 South British »4 2 9 486 253 A.C.I 2 Iβ 9 2 17 3 2 8 10 i Broken Hill Pty. .. 25 10 269 229 Reid Rubber 1113 1 12 0 3 15 0 ! Mount Lyell 1 12 3 18 6 J Auckland Gas .. 0 7 8 0 7 7 3 19 2 Farmers' Trading. «1 6 9 »1 7 3 3 13 5 Dom. Breweries ..*2 5 0 2 12 0 3 13 1 N.Z. Breweries .. 226 266 34 6 G. J. Coles «3 7 6 t3 11 0 2 16 4 Wilsons Cement . to 19 9 019 6 1 14 3 Colonial Sugar .. 59 0 0 61 0 0 212 5 Woolworths— New Zealand ..111 149 286 Sydney 123 13 9 2 10 6 GOVERNMENT STOCK £sd £sd£sd 1952-55, 4 p.c. ..»105 10 0 »104 10 0 3 5 0 1953, 21' 2 p.c 94 17 6 95 10 0 3 4 0 1953-57, 3>,2 p.c. .. 102 0 0 101 5 0 3 6 4 1952-55, 3 p.c. .. 99 7 6 «98 10 0 3 4 3 • Buyers. t Sellers. t Interim dividend passed. SALES COMPLETED Sales completed on the Auckland Stock Exchange at the 3 p.m. call yesterday, with variations from previous sale prices in parentheses, are:— 500 Commercial Bank Australia... 0 18 6 50 Union Bank 8 6 6 (—3d) 500 Oamaru Woollen 110 0 (+2/) 100 Reid Rubber 1 12 0 100 Woolworths (Syd.) 1 3 9

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AS19450721.2.9

Bibliographic details

Commercial News, Auckland Star, Volume LXXVI, Issue 171, 21 July 1945

Word Count
1,066

Commercial News Auckland Star, Volume LXXVI, Issue 171, 21 July 1945

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