SHARE MARKET.

Press, Volume LXVI, Issue 19918, 3 May 1930, Page 12

SHARE MARKET.

WEEKLY REVIEW. The Affiliated Stock Exchanges lliroughout New Zealand resumed business after the Easter vacation on Monday, April 28th, and the recorded turnover on Metropolitan Exchanges during the past week was well up ta the average. Prices of Government Issues ■ showed a hardening, but several Bank stocks and other popular investment stocks reached lower levels. On the local market the daily recorded turnover, exclusive of vestibule business was as under:— £ Monday .. .. 4,24$ Tuesday .. .. 0,014 Wednesday .. .: 2,670 Thursday ~ .. 6,230 Friday .. .. 3,538 £22.760 Of this amount Bank shares accounted for £4090, Pastoral group £4280, Breweries £6823, Tobaccos £2270, and Lyells £246' J. Four and a half per cent. 1938 Tax free Stock was firmer with, dealings at prices ranging from £97 10s to £9B; that due 1939 realised £97 10s, ,and lato buyers are offering £97 12s 6d ! for the- Stock and £97 15s for Bonds, without attracting sellers. Five and a half per cent. 1933 Stock changed hands at £99 2s 6d; buyers of the Bonds are quoting £99 7s 6d without attracting sellers. Five and a quarter per cent. 1932 Stock realised £9B 15s. Five and a half per cent. 1936 Stock eased 2s Gd to business at £99 ss, but closed firmer with buyers at £99- 7s 6d; no sellers. Christehureh Gas 5$ per cent. 1934 Debentures were placed at £IOO 10s. and City of Wellington 5J per cent. 1932 at £9B -17s 6<f, Banks—Australian of Commerce remained at 24s Id and 245, but closed weaker at 23s lid sellers, 23s 9d Buyers. Australasias, in which business was done at £l2'los before Easter, had recent sellers at £l2 7s 6d, buyers at £l2 2s 6d. Commercial of Australia ran down from 21s 6d to 31s, as against fairly steady dealings between 21s 9d and 22s Id before Easter, and more are on offer at 21s, buyers at 20a fid; the new 5s paid realised 6& Commercial of Sydney dropped 15s to business at £l9 15s, and late unsupported sellers are offering at that price. English, Scottish, and Australian, cum dividend* of 3s per share, fell to £6 7», £6 7s Gd, and £6 6s, and ex dividend business was recorded at £6 3s 6d, and more are Wanted at that figure; BOllers at £6'ss. National of Australasia £5 paid fluctuated from £7 2s to £7 9s to £7 6s, closing at £7 8s buyers, £7 20a sellers. National of New Zea- , land advanced to £0 7s 6d, and .there are further buyers at £6 5s 0d; sellers at £6 3s. New South Wales remained at £39. but recent sellers were offering at £3B 15s; buyers at £3B 7s 6d. New .Zealands. cum dividend, which reached 50s ffd before the vacation, fan down from 399 to 58s, andmore are , available at 58a; buyers* at 67s lOd. Union Bank changed hands at £ll 18s and £ll 16s Gd, as against <ll 16s and £ll 15s before Easter, closing weaker. I Insurance and Loan and Agency— New Zealand Insurance shares had dealings at 44s 5d and 44s 3d, as against previously recorded business at 44s 6(1 and 455. South British eased to 60s 6d and 58s 9d. Queensland were taken at 48s, and late unsupported sellers are offering at 495. Balgety and Company on a large turnover were steady with dealings at £ll and £ll Is, and more are wanted at £ll Is, sellers at £ll 2s 6d. Goldsbrough Morts showed recovery with business at 30s lOd, and late sellers are asking 31s 3d, buyers at 30s 6d. New Zealand Guarantee Corporation shares were fractionally weak* er with dealings at 7s lid, and mora are on offer at 7s 10d, buyers at 7s fid. North Auckland Farmers "B" Preference remained at 8s fid, the Ordinary were fractionally, weaker at 2s 4d. Wellington Investment Trust and Agency were steady at lis. ~ 1 Shipping, Proton Heat,, Coal, and Gas—pevonport Ferry eased to 21s 9d. Huddart Parker Preference, were weaker, -with dealings at 19s 3d and 19s 9d. New Zealand Refrigerating 10s paid shares had dealings at ss, market closing- 5s sellers, 4s 9d buyers Woohen Company shares wero firm but inactive. Grey Valley Collieries cum dividend of 3 per cent, ate on offer ? at 275, reoent buyers at 2456 d. Renown Collieries preference, now issue, remained unaltered at 2s 9d, Auckland Gas shares were fractionally firmer with transactions oi the fully paid at/ ar>s 9d, and of the partly paid at T7s 4d. Christohureh. Gas 10s paid shares hardened to 13s Cd—-the' fully paids are wanted at 2% 3d (last recorded business -figure), sellers at 275. Timaru Gas changed, hands at 225, 22s Bd, 22s, and more are offered at22s, buyers at ,-21s 9d. V Breweries—Recorded dealings in this section were confined to New Zealands, Staples and Tooths. New Zealand* went : from 53s to 53s fld, to 525, as against previous range fom 55s 6a to 535, to 54g. Staples ran down from 40s to 48s 4d, 48s 6d, as compared with ,48s 6d and 48s 9d before the vacation. Tooths had dealings at prices ranging from 31s 9d to 32s 6d to 31s 4d, closing at 32s Id. Carltons are weaker with sellers at 338, buyers at 325. In the Miscellaneous Investment Section the following transactions were recorded, figures in parentheses indicating previous business: Amalgamated, Wireless (Contr.) 21s; Britinh Tobacco *os 3d to 38s 9d (40s 3d to 39s 10d); Bycrofts, Ltd., 34a; Dunlop Rubber 16s 9d, 16s 6d, 16s 7d (170 9d). Electrolytic Zinc (ord.) 24s (275, 26s 9d); Kauri Timber 13s 6d (14s); Mount Lyell 28s 9d to 27s Id (34b 3d to 325). N.Z. Farmers' Fertiliser; 18s lOd -to • 18s 6d (18s 9d). 1 ' Goldmining—Kawaraus were uaaitered at 5Jd. Paddys Point eased to 3s 6d. Stoney Creek <W paid showed little variation with transactions at 74 and 7id. Waihis relapsed to dealings at 13s lOd and 13s 9d. Cornish Point Is paid- changed hands at 9jd, BJd, and 7d,' as against 7d, a fortnight ago.

' TRANSACTIONS.

There was a good volume of business on call yesterday, .with the bulk of the turnover in Breweries, Gas, Tobaccos, and Lyells. Transactions, exclusive of vestibule business, included:— £2OO N.Z, Govt. 51 per cent., 1932, Inscr. Stock. 100 South, British Insurance.' 400 Christchureh Gas (10s paid). 50 N.Z. Breweries (late sale Ist). 400 N.Z. Breweries. 200 Staples Brewery. 300. Tooths Brewery. 100 Amalgamated Wireless (contr.). 20CFS British Tobacco. 200 Mt. Lyell, 500 Cornish Point (Js paid). English, Scottish, and Australian Bank shares ex dividend' bad stronger

demand at £0 3s 6d, buyers at £6 ss, and National Bank of Australasia £5 paid buyers moved up to £7 Bs, sellers at £7 10s. Bank of New Zealand cum dividend were weaker with sellers at 58s, buyers at 57s lOd. 'Union Bank of Australia shares fell to £ll 12s sellers, £ll 6s buyers. South British Insurance shares eased to 58s 9d and there were further unsupported sellers at 595. Dalgety and Company shares were stronger on buyers' bids £ll Is, sellers at £ll 2s 6d. National Mortgage sellers reduced their limits to 655, buyers at 58s 6d. Christchurch Gass 10s paid shares remained unaltered with dealings at 13s 2d, market closing 13s buyers, 13s 3d severs. A lato sale of New Zealand Breweries on May Ist was reported at 52s 9d, but yesterday 'a transactions dropped to 51s 9d, market closing 3d on either side. Staples Brewery shares relapsed to 48a 4d and 48s 6d, closing quotations 48s 6el sellers, 48s 3d buyers. Tooths Brewery shares regained some of recent loss with dealings at 32s Id, sellers staying in at that price, buyers at 325. Amalgamated Wireless Contributing shares were taken at 21s, buyers staying in at that figure, no sellers. British Tobaccos eased to 38s 9d and more were available at that figure, buyers at 3Ss 6d. Mt. Lyells dropped to 27s Id, market closing 27s Id buyers, 27a 2d sellers. Cornish Point Mining shares Is paid were fractionally weaker with buyers and business at 7d, sellers at Bd.

AUCKLAND REVIEW.

J [THE FBESS Special Service.}

AUCKLAND, May 2

Except for the steady support accorded gilt-edged securities, easy conditions prevailed on the Auckland Stock Exchange during the week. The market opened with a hesitant tone after the Easter vacation, and under the influence of a continuance of unsatisfactory conditions in Australia, prices in the majority of cases tronded toward lower levels. Although the number of transactions recorded has been close up to the average, the volume of turnover has not been large. The sustained demand for Government investments has met with little response from sellers, and only five parcels changed hands on the local market daring the week, two of these being in 1936. 5% per cent, issue, at £99 ss. Banks, which have moved somewhat iregularly, attracted most attention, and trading has been fairly active. Australians of Commerce were unchanged, and offers for Australasias were on a par with the level ruling before the vacation, £l2. Further ground was lost by Commercials of Australia, offers for which receded Is 2d from 21s Sales were recorded in Auckland down to 21s 3d. and in Cbristchurch down to 21s. Payment of the usual rate of interim dividend on E., 8.. and A. stock failed to hold them against the market, and prices drooped in Christchnrch from £6 12s 6d before the vacation to £6 3s 6d Locally a transaction took place at £6 6s. New South Wales gave way slightly, and had sale ss. below the preholiday level at £3B 15s. Unions were not in' demand locally, but were available 6d cheaper at £ll 17s 6d ; Slight progress was recorded-by Nationals of New Zealand, which moved .up from £6 6s to £6 6s in Auckland, and to £6 7s 6d in Wellington. The greatest nuhxber of transactions took place in New Zealands which were dealt 'n freely on all exchanges at levels between 58s and 58s 6d. A steady enquiry was made for insurance shares, but business was practically confined to New Zealands, which eased 3d to 44s 3d. Offers for South British dropped to-day from 60s to 595. A sale took place during the week at 603 3d. Other sections of the market were fairly quiet under easier conditions.

A CHEERFUL BALANCE-

SHEET.

UNION TRUSTEE COMPANY'S

PROFITS.

It to satisfactory to shareholder* in the Union Trustee Co. of Australia, Ltd., that the director* o! the company ha«e been able io present a cheerful balance-sheet to them lor the company's part financial year in face of the {act that eo many businesses these times are. taring eo badly. The progwitivs policy of the directors, however, has stood the company in good stead, ana its \ expansion of business in othez States liae been a feature. Mr H. M. Strachan, who presides at the annual meeting of the company, told shareholders that in New South wales alone new business exceeding ♦fil ,000,000 had been obtained during the Tom, and the Brisbane offices of the company were beini? enlarged to meet increased operations in Queensland. In addition, to a dividend of 10 per eent. for the year shareholders will receive a special' distribution of 2s 6d a share to cover a call which is being made ol that, amount. COMPANIES REGISTERED.

Registration of th« following companies is announced la the Mercantile taisMs>» British Motor Cycle Agencies (N.Z.), Ltd. Begd. Iks a private company April 17th, 1980. Office, 27 Manchester street, Chrlstchnrch. Capital: £6OO into 600 shares ot £1 each. Subscribers: O. L. Meredith-Kaye 598, B. Lestocq Jones 1, S. P. Godfrey 1. Objects: To buy and sell, etc., motor-cars, motorcycles, and bicycles, and Incidental. Bullivant, H. W. and Co., Ltd, ,Regd. as a private company April 17th, 1980. Office: 163 Armagh street, Christchurch. Capital: £5600 into 5500 shares of £1 each. Subscribers: H. W. Bullivant 5497, M. -S. Bullivant 1, O. P. Bullivant 1, K. Bullivant 1. Objects: To take over business of H. W. Bullivant and Co., printers, etc; United Brcnner Coal Mines, Limited. Office: 213 Uanchester street, Christcburch. Capital: £65,000 into 65,000 shares of £1 each Subscribers: Wellington—E. Pilcher 250, £>. ■ Allen 250. Christehurch—W. I. Bolam 250. O. J. R. Williams 250, R. Leslie 350, R. E. Haatio 1, P. C. Browse 1. Objects: To purchase and acquire mining rights, etc.,, from the North Brunner Syndicate. Ltd., all its interest in the Brunner Coal Mine, etc. V South Canterbury Investment Trust, Limited. Begd. as a private company April 24th 1030. Ofllce: 191 Stafford street, Tlmaru. Capital: £4500 into 4500 shares of £1 each. Subscribers: Timaru—J. W. Fair 500. O S. Bruce 500. O. H. Ussher 500, J. W. Adams 800, Jf, H. t>on 500, A. L. Marshall 500. C. J. Kerr 600. C. W. Gillies 500, J. Todd 500 Objects: To deal with shares, stocks, debentures, bonds, etc. AUSTRALIAN WOOL SEASON.

The National Council of Wool Selling Brokers of Australia has compiled the following statement of the 1020-80 Woo) season from July Ist to March - 81st last, compared with'last season, as follows: 1920-30. 1028.29, Bales. Bales. Receipts " .. 2,402,284 2,547,678 Sold .. 1,660,523 2,201,756 -Shipped .. 31,054' 23,268 In store .. 701,107 202,657 The sales of 1020-30 had, in addition. 86,650 bales of previous year's clip carried over, and to the quantity held in store at March 81st last must be added 2886 bales of 1028-20 clip awaiting disposal. The 1028-20 returns had sales additional to those disposed of as set out above a holdover from 1027-28 of 27,568 bales; and, in addition to the quantity held In store at March 81st, 1920, there were 690 bales 192728 clip carried over and awaiting disposal. The average price realised over all centres for wool during last March was O.lOd per lb, and the average value a bal» was Jill 9s.