REVIEW OF THE SHARE MARKET.

Press, Volume LXI, Issue 18569, 19 December 1925, Page 14

REVIEW OF THE SHARE MARKET.

The Share Market continues active and the volume of business done comoares favourably with the preceding fortnight, and prices aro well maintained. In Government Loans the 4i Der oonte.. due 1938, remain steady at £96 7b 6d and £OG 6s; the 5 per cents., due 1927, at £D7 10s, and the 5i per cents., due 1933, at £99 10s. For the 4J per cent, quotations showlittle change on last week, the 6 per cent, are" sought at £79 los, and the 5i per cent, had recent enquiry at the figures at which sales have been recorded, but sellers are reticent. New Zealand Brewenos remain unaltered at 25b, with late buyers ©Serine 24s 6d without response. A parcel of North Canterbury Hosnital Board 5J per cent, debentures, due 1933. was placed at £9B. In the banking section there is good demand, and, except in one or two instances, movements have been in favour of holders. Australasias changed hands at £l4 3s 6d and £l4 4s, as compared with sales at the former figure last week. Commercial of Australia shares, in Bffcich last recorded transactions *rer© at 32s 9d and 3s, were placed this week at an advance of 3d on the latter ficure. ' ■ Commercial of Sydney aro sought at £25 15s, the figure at which sellers were Quotum earlier this week. Business in National of Australasia partly-paid shares at £8 12s aboWB no change on reported sales for the past fortnight. National of New Zealand shares, cunn dividend, were dealt in at £8 17s, an advance of 6d on highest recorded sales a fortnight ago, with further demaud at £6 16s 6d. sellers 2s 6d higher. New South Wales improved from Baloa a week ago at £4l 10s to business at £43. and buyers are now offering] £42 16s without response. New Zealanda, ex dividend of Is 4d ver share, changed hands at prices ranging from 57s 2d to 56s Sd, as against last week's sales, cum'dividend, at 57b 9d to 68a 3d, andi late sellers are offering at 56s 6d, with buyers Gd lower.. Union Banks'at the beginning of the week had business at £l4 17s 6d, showing no change on last week, but latter rose to £l4 19s, £l4 18s, and £l4 19s, and more are wanted at £l4 IBs 6d, no declared sellers. Victoria Ordinary had recorded turnover at £7 12b, an advance of 2s 6d on that previously reported, and.subseauent sellers were quoting at £7 13s 6d. with declared buyers at £7 lis. National Insurances remain fairly steady—sellers offering at last week's lowest sole 3 figure, with buyers Gd awav.

New Zealajids are easier "with business at 33s and 375, as against 38s 3d. and 38s last week, and sellers are now quoting 37s 9d, buyers 9d lower. South British eased 3d to turnover ai, 64s 9d, with late unsupported sellers asking: 555.

In the Loan and Agency group there has been fairly stendy enquiry for DaJeetvs and Goldsbroughe, but no sales have been reported this -week. The latter are now ex the recent dividend lojE Is per share. Howard Smiths show marked improvement \ sales" a fortnight ago were a* 38s 9d and 33s Gd, and there is clejnand now at 355, recent quoted sellers at 96s 6d. * Business in HucTdarts ordinary at 44s shows no variation on the past fortnight. Union preference cum dividend were . dealt in at 20s 6d, an advance of 6d - on recorded business two weeks ago. Buyers a day or two ago quoted' 19s > 6d ex. dividend without response. In frozen meat shares the only reported transactions have been "Sew Zealand Refrigeratinc fully paids at 17b 3d and the partly paids at 7s 6d, 7s 3d, 7b Id, and 7s —both issues showing a falling-off as compared with sales ovar the previous fortnight. . Ftor Gears, ei. dividend and bonus amounting to Is 6d per share, unsupported sellers were asking 41s during -■ th* week. Last .recorded business last week: com the dividend' Was at 4ls. Westport Coals, which sold last week at 325, are .on offer at that figure, with buyers 2s lower. *■ Cbristchtirch Gas ahares are sought at £7 10s, sellers 2s 6d higher. In the breweries group, New Zealsads with sales at 59s 9d and 60s show no change on last week, but the market closed With quoted buyers at 58b 6d, sellers at 60s. Mannings were* dealt in at 425, 42s fld, 42a, 41s lid, and 41's 9d, shewing a marked decline on last week's sales ashigh as 44s Gd.' Staples have also eased from business at 43s to 42s 3d last week to 4av4la 3d, 41s, and 41s 3d this week. Wards are on offer at 81s, but

buyers are,not quoting, and Crowns had ( enquiry at IS* without response. Last ■week's reported turnover in the latter was at 19s. "Wilson's Cements wore placed at 34s '''■■' 6d, as compared with transactions last ■' week at 34s 9d and 355. Amongst the miscellaneous stocks business has -been recorded in Dominion Rubbers at 63s 9d, 63s 6d, 625. and 62a 3d, and in N.Z. Malays ordinary at 53a 6d, the former evidencing a slight advance on last week, while the latter marks a substantial increment on last reported turnover. Electro. Zinc preference remain unaltered at 33s and the ordinary at 81a €cT show little variation on last reported sales. Eclipse Petrol, £1 paid, which are seldom quoted, changed hands at 15s. Mason, Struthers (14s Sid) were placed' at 14s 9d; Hume pea at 14s 6d; N.Z. Guarantee Corporation at 10s, and Mercantile Finance Corporation (5s paid) at 4s 6d. laranalri Oilfields shares have further de- < cTined to transactions at 14s 9d and 15s 3d. Whitcombe and Tombs at 67s 6d are on a par with last week. In goldmining shares sales of Kawa*aus ranged from 6s 6d to 6s. Blacks had sale at 4s premium, and Waihis were dealt in at 23s 6d.

VICKERS. LTD. DRASTIC CHANGES CAPITAL WRITTEN DOWN. (*t clbu—ruas ASSOCUTIOir— coptbioht.) (jVWIMtUAM A*B W.l. CAB&B XaSOdATIOW.) LONDON, December 17. A meeting of Vlekers shareholders orerwnelminrly adopted the reconstruction proposals. ' [The Commission appointed to to into the financial position of Vickers, Ltd, reeom- - Blended that the capital be -written down by ' 413,500,000, £1 shares being reduced thereby to 6s 84. Other recommendations were to the effect that redundant officials he dismissed, plants shut down, and all unprofitable subrfdiary enterprises wound up. The deficit was to be further met by the appror priatian of £3,600,000 from the reserve, and taking; £682,000 from the profit and loss account. i&^gr-BRADFORD WOOL MARKET. December 18th, 10.50 p-m.) gjfaa 1 iL,( ■ LONDON, December 17. itwnoi majorat in more active. ettauiry for all sorts. Quo*T«v sWVi 4p*f