FINANCE AND COMMERCE.

Press, Volume LXVII, Issue 20280, 4 July 1931, Page 12

FINANCE AND COMMERCE.

SHAKE MAIvKET. WEEKLY REVIEW. IMPROVEMENT IN PRICES. J ... ;(j\ fiuc-iii iu prices ot those -L.t'ks mo-ii regularly dealt in on the . itiiiatC'J exchange* which commenced ■ t.i;! th** middle of lust week was this H.ik it.-il maintained, and in some ■ a pjrther ..dvanccs were niado. 11;© for shipping and woollen com-.-li.hX'3 were dull and inactive, 'l!: .«•:»*.factory returns published by - vr:tl gold mining companies" caused ~t'', 'Jv vinn of tlicir shares and ind'l. {ilav._-d more confidence in : ■■ !ii;m k. r,-, generally. 'ice following is a comparison of the turnover on the local •Ur j or the* l'a-t iorniglit:— I iiis week. Last £ £ - 1.18-4 :i,120 -.1. ... 1.451 1,491 n-idav .. i.y-Ai 2,731 M .-diK'sdav ■ • 1,024 i-'-H.-v ... 2,887 2,878 £11.582 £13,270 <<> ti ; i> week's total, bank shares ac-O'un'-'i "ir £3tilo (£6034); breweries, .Vi.VJto (t'M6): Lyells, £1575 (£1348); fold mining, £2144 (£1575). Figures •:» parentheses are last week's totals. (iovcrnnient is-sups were more active iu/4 there v.a» a good turnover in the t in free 4? pei cent. loans in the nor?lj. hi centres. Four and a half per i "it. 1!K3« -Stock ranged from £9B 2s ti'l to £97 17s 6d, and that due 193'J ha 1 dealings at £93 and £97 17s Gd. j-'oiir and a hall per cent. Bonds, due 1939, and 1941 changed hands a i £9B, market closing firm. Five and a half per cent. Inscribed, 1933, which realised £99 5s and £99 2s 6d last wi'li, is offered at £99 ss, buyers at £99. Five and a half per cent. 1936 Stock was firmer at £99 ss, and more wanted at £99, but holders are reticent. Auckland City 5J per cent. 194 f debentures changed lianas at £97 7s 6d; Auckland Power Board 5J per cent. 1945 at £97 10s; Mount Eden Borough 5$ per cent. 19G7 at £SJ9, and Wellington Hospital 5* per cent. 1933 at £9B 5-.

Banking Section. In the Banking section Commercials and New Zealands were most popular, and, with the exception of the National of New Zealand, which reflected the reduced dividend, prices generally were firmer. Australian of Commerce in which last recorded turnover was at lis 4d, claim buyers at I4s 9d, seller* at ltis. Commercial of Australia ranged from 14s 6d to 15s. (the local turnover was 1000 shares) as against 23s lid to 14s 5d last week —the preference were stronger with buyers at i'o 12s 6d, sellers at £5 16s 6d. linsupported sellers of Commercial Bank of Sydney shares want £l4 103. E., 8., and A. at £4 7s 6d show a rise of 8s (id on last week's transactions, and late buyers are offering £4 4s, sellers at £-1 10s. National Bank of Australasia, £lO paid shares changed bands, ax £lO Is, and there were further buyers at £lO, no sellers. National Bank of New Zealand, cum dividend dropped 5s to dealings at £4 10s, but closed firmer at £4 lis (id buyers, £5 tellers. New South Wales ranged from £25 lis to £24 17s 0d and more are wanted at £25 ss, sellers at £25 15s. New Zealands over the week scored a noteworthy rise, opening at 46s 6d, which was, on a par with last week's hales; they advanced to 495, closing at 4§s Od. and holders now want 495 ; buyers at 48s sd. Union Banks were placed at £7 17s 6d. £7 15s, and £7 18s, as compared with £7 10s and £7 12# a week ago, and more are available at £7 18s, buyers at £7 14s. Insurance and Loan and Agency. National Insurances were fractionally firmer at 13s, market closing 12s lid buyers, 13s 3d sellers. New ZealitpA* advanced from 40s 4d to:4ls 9d—lukt week's prices were 40s and 40s 3d. South British hardened to 50s 9d, 31s 3d, 51s 4ci, and 51s 6d—as against 50s lid to 51s 3d last week, and late sellers want 525, buyers at 60s 6d. Dalgety and Company rose 3s 6d to business at £6 lis, and more are wanted at £'J 12s, sellers at £7. Goldsbrough, Morta were fractionally firmer at 20s 2d. and. late buyers are offering 20s, tellers at 20s sd. Dominion investment and banking shares remained unaltered at 18a. New Zealand Guarantee Corporation ordinary weakened to se, and late sellers ara asking ss, buyers ayt 4s Bd—the preference realised 20s id. Reliance Loan preferenoo were taken at 17s 6d. New Zealand Loan and Mercantile ordinary stock dropped to £SO. United Building Society were released at 13s. Frozen Meat, Coal, and Oae. New Zealand Refrigerating 10s paid shares changed hands at 3s 8d and 3s 7d, ae compared with 3s 6d and 3s 7d a week ago, and more are on offer at 3s Bd, buyers at 3s 3d. Southland 10s paid realised 16s 3d. Taupiri Coals ordinary were firm at 20b Cd. Quotation* for, Westports show little variation. Auckland Gas shares were steady, with business in the fully paid at 23e, and in the 15s paid at 17s. Christchurch 10b paid were Id down on turnover at lis lid, and late sellers are offering at that figure, buyers at lis Breweries. Ni;w Zealand* accounted for tho !mlk of the turnover in this section, and prices fluctuated from 35s ?A to 3ls 9d to 35s Id, with In*© fr>syi"rs at 35s 3d, sellers at 35s 7d; last week's range was from 32s 9d to 34s ihi. On the local market 880 shares changed hands. Quotations for Staples are wide, buyers offering .325, sellers asking 375. Timaru 5s paid were released at 6s 3d and 6s lid, and there .jr« further unsupported sellers at 6s Miscellaneous. In the miscellaneous investment Miction, British Tobaccos mored up to 255, 25s Id, nnd •JJs 3d. Colonial Sugars advanced to £34 10s. £34 12s 6d, and £34 15s. Farmers' Trading eased to 5s 6d. Mt. Lvdll. ex dividend, fluctuated from J 8a 3d to 19s to 18a 3d, last week's dealings, cum dividend, ranged from J("~i lid to 18s 9d—local turnover 1700 tJtares. New Zealand Farmers' Co-op 6 J per cent. li) 40 Stock changed hands at £53 10p. and more is wanted at £53 s*. no sellers. Otago Daily Times were nlaced at 50s. Taranaki Oils were fractionally weaker at 9d. WilCements were firm at 35s Grl, an<| more are .available nt 3os 9d, buyers «c 3fs. Gold Mining. Cornish Potato were placed at BJd and Bd. Golden Point 10s paid moved between 15s 5d and 15s—following their conversion into la paid prices ranged from la 8d to Is lid—the local turnover was 4100 shares. King Solomon, on an active market, weakened lrom 3s 7d to 2s lOd and more are available at lljd, buyers at 2s lOd; liilQO shares changed hands on the local market. Mahakipawas showed little variation at 7fd—local turnover 3200 irfiaree—tfc» preference realised Sd.

Okaritos scored a notable rise, opening at 9s Od—6d above peak price last week—and advancing to lis 3d; 1975 shares sold on the local market. Paddy's Point rose to 3s 5d anci 3s 3d. Wailits were fractionally firmer, with dealings at 15s 4d, 15s sd, and 15s Gd. Grand Junctions realised 3s 2d, 3s, and 2s llcj. ; YESTERDAY'S TRANSACTIONS. i i The volume of business done on Call yesterday was the heaviest daily total for the week. Dealings were restricted cliieflv to banks and goldmining shares. Transactions exclusive of vestibule business included: — 1000 41 per cent. 1939 Stock 200 Comm. Bank of Aust. 12 National Bank of Australasia (£lO paid) 250 Bank of Now Zealand 25 Union Bank of Aust. 100 British Tobacco 100 Mt. Lyell 1200 King Solomon COO Mahakipawa 450 Okarito 1000 Golden Point (Is paid). New Zealand Government 4J per cent, tax free stock, duo 1939, realised £93. Commercial Bank of Australia ordinary shares had dealings at 15s, sellers staying in at that figure, buyers at 14s lid. Buyers of Bank of Australasia shares raised their bids to £9 14s, sellers at £lO. National Bank of Australasia fully paid shares moved up to £lO Is, and there were further buyers at £lO, no sellers. Buyers of National Bank of New Zealand shares cum dividend advanced their offers to £4 lis 6d, sellers at £5. Bank of New Zealand shares changed hands on the morning call at 49s and 48s lid, and on the afternoon call at 48s 6d, closing quotations 48s od buyers, 49s sellers. Union Bank of AustralJa shares were released at £7 15s, ancl more were wanted at £7 14s, sellers at £7 18s. Other Stocks. Dalgety and Company shares were stronger with buyers at £6 12s, sellers at £7. Buyers of New Zealand Breweries shares moved up a couple of points to 35s 3d, but sellers wanted 35s 7d. British Tobaccos firmed to 25s 3d, market closing 25s buyers, 25s 9d sellers. Mt. Lyells relapsed to IBs Ba, but closed firmer with buyers at 18s sd, sellers at 18s 6d. King Solomon Gold Mining shares were fractionally weaker with dealings at 2s IOJd, 2s lOd, and 2s lid, and further sellers at 2s 11 id, buyers at 2s lOd. Mahakipawa Goldfields shares remained unaltered at 71d. Okarito Goldfields shares changed hands at lis, 10s lOd, and lis 3d, buyers staying in at the highest price, sellers at lis sd-. Golden Point Is paid shares were firm with dealings at Is lid and Is IOJd, market closing Is lOd buyers, Is 101 d sellers. AUCKLAND. AN IMPROVED TONE. [TUB PRESS Special Service.] AUCKLAND, July 3. Business on the Auckland Stock Exchange during the week has been of substantially increased proportions, and the tone of the market has generally improved. There was an increased turnover in Government loans. Considerable ground was gained in the banking and insurance groups, - and although the quotations in the former closed a little easier, substantial gains have been sustained throughout the Bection. Commercials of Australia closed steady at 15s, and New South, Wales advanced from £24 17s 6d to _25 lis. Most business was done in New Zealands, which rose progressively from £2 6s 6d to £2 9s. Active business - was done in New Zealands and South British Insurance. The former registered an improvement of 2s over the week, changing hands finally at £2 2s. Eight parcels of South British were turned over, prices opening at £2 lis 3d, and closing firm at £2 lis 6d. Other sections of the market were quieter aud moderate business was aone at improving levels. Kmg Solomons were the most active mining investment, but prices. were easier, dropping from 3s 4d to 3b at the close. Waihi Grand Junctions also moved against deals, to-day at 2s lid representing a decline during the week of sd. Waihjs were steady at 15b od. Mount Lyells tonched 19s at the middle of the week, but closed easier."

DUNEDIN. \ A QUIET PERIOD. I [THE PRESS Special Serriee.J , DUNEDIN", July 3. 7 The business transacted on the Stock Exchange was a little less Ibis week than was the case in the previous period. The bulk of tho sales recorded were concerned with the m'ning section, Okaritos being most *in evidence. There was a sale of Bank of New Zealand shares at 475, but the market improved considerably during the week ana the cbse found a demand for these shares at 48s 3d, with sellers asking 50s. Commercials also tended to improve, a sale taking place early in the period at 14s 9d, and another being recorded later at 14s lid. There was a buyer of these shares at the end of the week af 14s 7d, sellers then demanding 15s Id. Union Banks were dealt in at &7 ISs. The latest offer for these was £7 14s, but; no seller came forward. Insurance Group. The demand for National Insurances has been firm up to 12s lOd, but sellers are unwilling to do business at less thau 13s 4d. There was a sale of New Zealand Insurances at 425, but the best offer at the close of the market was 41s 6d. No business has been done in the Shipping, Coal, Loan and Agency, or Meat Preserving sections. There have been offers of £6 8s for Dalgetys, but pellers have not been attracted. Ordinary New Zealand Kefrigoratings have continued in demand at 10s 6d, the best selling | quotation at the end <.■£ the w'eek being lis 6d. British Tobaccos are firmly in demand and closing quotations were 24s 6d (buyers) and 26s (sellers). A parcel of Wilson's Cements was turned over at, 35s 6d. These shares were later offered at 36s Cd, but no buyer came into the market. New Zealand Breweries are now being asked for at 34s Cd. Offers of 15s for Dunedin Breweries at the close of the period found sellers firm at 19s. Mining Shares. Waihi Grand Junctions had demand at 3s throughout the week, sellers asking about 5d more. There was a . sale at 3s2d. Okaritos continued to firm and sales have been recorded at prices ranging from 9s lid to lis. There were 24 transactions in these hbares during the week compared with 35 parcels turned over in tho previous period. At the

close llie market showed a tendency to ease, final quotations being 10s lid (buyers) and Us (sellers). Paddy a Poifits have seen some activity, sales being recorded at 3s 5d and 3s 3d. The close of the market found buyers offering 3s for these shares, with a seller forward at 3s 6d. King Solomons have shown some tendency to ease. T^here were sales early in the week at 3s 3d, business being done later at 3a la Mia 3s, and finally at 2s lOd. The best offer at the close was 2s lOd, sellers asking Id more. . . There has been some easing m the demand for Government loan?.