FINANCE AND COMMERCE.

Press, Volume LXVII, Issue 20334, 5 September 1931, Page 12

FINANCE AND COMMERCE.

SHARE MARKET. WEEKLY REVIEW. AVERAGE BUSINESS. The recorded turnover ou the Metropolitan Exchanges during the past week was a fair weekly average. Market conditions showed no change, and although a •wider range o£ stocks was dealt in, investors showed a decided preference for bank and goldmining shares. Debenlures were active at prices which, on the whole, closed at lower levels than those ruling the previous week, for reasons already stated in these columns. The following is a comparison of the daily recorded volume of business on the local market for the past fortnight: This Last week. Av<?ek. £ £ Saturday .. 59S 869 -Monday .. 770 344 Tuesday .. 4,G4."> 1,287 Wednesday .. 3,156 4,056 Thursday .. 4,401! 3,272 Friday .. 2,6556 3,313 £16,265 £11,641 Of this week's total, bank shares accounted for £3622 (£1655); Breweries £1575 (£2044); Lyells £668 (£505); Gold Mining £1324 (£1215); debentures £6700 (£4100). Figures in parentheses ire last week's totals. Four and a half per cent. Stock, due 1939, had business at £ss 15s, and the Bonds, dug 1938, changed hands at the tame figure—an easing of 5s on lowest levels reached last week, and there ai3 further sellers of the 1938 Stock at £95, buyers at £94 ss. Five and a half per cent., 1933 Stock, had dealings at £97 12s 6d. Five and a half per cent. Stock. 1937, which rangod from £IOO to £99 last week, dropped to prices ranging from £96 15s to £95. Five and a half per cent. Bonds, due 1937, fell from £94 (lowest level last week) to sales from £96 15s to £94 15s. Hauraki Plains County 6 per cent, debentures, due 3963, changed hands at par, and Milne and Choyce debenture stock at 17s 9d. '■ Banking Section. In the Banking Section, Australian of Commerce were taken at 12s od, but closed stronger at 12s 9d buyers, 13s 9d sellers; these Bhares have gradually hardened since the announcement of the amalgamation with the Bank of New Sooth Wales. Australasias cum dividend, which eased to £8 7s 6d. last week, are now on offer at £8 ss, buyers at £B. Commercial of Australia ordinary moved within last week's limits "with dealings from 13s 4d to 13s 6d, and more are wanted at 13s 4d, sellers at 13s 3d; the preference moved up to £5 14s. E., S., and A. were turned over at £3 12s 6d, £3 lis, and £3 lis 6d, compared with £3 15s a fortnight ago, and more are available at £3 lis, buyers at £3 9a. National of New Zealand xell to £3 10s and £3 Bs, late buyers offering £3 9s, sellers at £3 12s 6d. New Smttfe Wales, ex dividend, are stronger on buyers' offers, £24105, bnt sellers are scaree. New Zealands ranged from 44s to 44s 6d to 43s 9d—last week 47a to 44a —market closing 43s "buyers, 44b seller*. Union Banks recovered to £0 11a ajxd £6 lis 6d, and more are wanted at £8 10s, sellers "at £6 12 s. Znxnranoe and I>oanand Agency. Nationals eased to 12s 6d, subsequent tellers Offering at that figure, buyers at 12s 2d. New Zealands eased 6d to business at 37a. South British ranged- from SOs 0d to 50s, as compared with 51s to SOs 6d last week, ana late buyers are offering SOs without attracting sellers. Dalgety's, which recovered to £6 9s a week ago, were lately on offer at £6 ss, buyers at £5 15s. Goldsbrongh, Morts fell from 19s _to 17s -3d, arid* eloped at 17s 3d sellers, 17s 2d bnyers. .Vnr Zealand Guarantee Corporation 8s paid shares were steady at 4s 9d «nd 4s IOcL United Building Society shares were fractionally firmer at 14s 7d, 14s Bd, and 14s 9d, and .closed stronger at 14s lOd buyers, 15S sellers. Frozen Heat, Coal and Gas. N.Z. Befrigerating 10s paid, changed bands at prices ranging from 3s 9d to 3s fld, closing at 3s 8d as against 3s 104 to 3s 6d last week. For Gears in which last recorded turnover was at 265, recent ynsupported sellers wanted' 26s 2d. Westport Coals had dealings at 23a 7Jd, and 23s 6d. Auckland Qaa folly paids were fractionally weaker with dealings at 23s Id and 23»—the 15s paid were-firm at 16a 11<L and 17a. Christehurch Ids paid were steady at 12s, subsequent bnyers offering lis 10a, sellers asking 12s 3d. Breweries. New Zealands were "turned oyer at prices rangiiiJrJrom "28s lOd $6 '&s '23 to 28s 5d and late sellers are-offering at 28s 6d, buyers at 28s '4d—last week's range was from 295.83 to 28s. Tooths were released at 17s 3d and 17s, showing no variation on last weejn and more are on offer at 17s Id, buyers at 16s Bd. .. UUsoellaneons. in the Miscellaneous Investment Section Beath and. Company is paid realised 2s 2d. British Tobaccos, pum dividend, changed hands at. 23s 6d and 23s 4d, and there are further buyers at 23s 2d, sellers at 23s Bd. Farmers ' Trading were fractionally firmer at 5s lOd. Mount Lyells weakened from 17s to 16s 63 and more are available at' she lower price, buyers at 16s sd. N.ZT. Drags, cum dividend, have unsupported sellers at SOs Od. New Zealand Fanners' Fertiliser had business at 10s. Bobin■on Ice Cream weakened to 16s 6d and Whittome Stevenson to 19s. \ Mining. Cornish Point declined from 7Jd to 6ii—loeal turnover 2500 shares. GoldenPoint Is paid were easier at Is 3d, Is 2}d, Is 2d, and Is ljd—9ooo shares <-banged hands on the local market. King Solomons steadily weakened from 3s to 2s 2d—locally 2500 shares were released., Mahakipawas realised 8d and 7jd—the preference, eased to Bd. Okaritos relapsed to 9s 7d, 9s 6d, and 9s sd, closing at 9s 7d—local turnover • 550 shares. Waibis at lis 6d were on a par with closing prices last week. Grand Junctions «£tanged hands ranging from 2i Jod fo\3a Td: " YESTERDAYS TRANSACTIONS. . ■■■■■. ■■■■ " Thero was a moderate turnover on call yesterday,' and markets "generally stowed little change. Transactions, exclusive of vestibule business, included; £SOO ST.Z. Govt. of p.ci Bonds, 1937. ' 100 Comm. Ban]c of Aust; 50 E., S., and A. Bank. " ; 200 Bank< of New Zealand. : ♦lOOGoldabrough, Mort.' 500 NJS. Befng. (10s paid). 700 New Zealand Breweries. 100 British Tobacco (cain 'dfv:). 200 lit. Lyell. : 200 King Solomon. 100 Okarito. 100 Waibi Grand, function. . JKWOjQolden >, ,

New Zealand Government 5} per .cent. Bonds, due 1937, eased to £94 15s, buyers staying in at that price, sellers at £95. Commercial Bank of Australia shares remained at 13s sd, closing quotations 13s 4d buyers, 13s 5d sellers. E., S., and A. Bank shares realised £3 lis 6d, but closed easier with sellers at £3 lis, buyers at £3 9s. Bank of New Zealand shares had dealings at 44s and 43s 9d, market closing 43s 9d buyers, 44s sellers. Other Shares. Goldsbrough, Morts were fractionally weaker with sellers and business at 17s 3d, buyers at 17s 2d. Buyers of United Building Society shares moved up to 14s lOd, sellers at 15s. New Zealand Refrigerating, 10s paid, shares recovered to dealings at 3s Bd, and there were further sellers at that price, buyers at 3s 7d. New Zealand Breweries shares were easier with dealings at prices ranging from 28s 8d to 28s sd, market closing 288 4d buyers;-- 28s 6d sellers. British Tobacco had businoss at 23s 4d, closing quotations 23s 2d buyers, 23s 8d sellers. Mt. Lyells were easier with dealings at 16s 8d and 16s 6d, and further sellers at 16s 6d, buyers at 16s sd. King Solomons eased to 2s 2d, sellers staying in at that figure, buyers at 2s Id. Okaritoß recovered to 9s 7d, market closing 9s 4d buyers, 9s 6d sellers. Grand Junctions were released at 3s 7d, and there were further buyers at 3s 6d, sellers at 3s 9d. Golden Point, Is paid, shares changed hands at Is 2d and Is lid. AUCKLAND. LOWER BASES OF VALUES. [THE PRESS Special Sertice.l AUCKLAND, September 4. Weakness in Government securities persisted on the Auckland Stock Exchange during the week and active dealing in this class of investment was again the chief feature. Prices declined heavily, the fates for 1937 64 per cent .bonds being written down from £9B to £94 10s, seven parcels changing hands between these limits. Inscribed stock of the same denomination was also fairly freely dealt in at declining levels, business ranging down from £95 15s to £95, compared with sales early in the previous week at par and £99 10s. There was more enquiry for. other lines than at the close of last week, but values were on a much lower basis. In other sections business was about equal in volume to that of the previous week and fairly widely distributed. Commercial Banks were firm at 13s 6d and 13s sd. Nationals of New Zealand weakened from £3 10s to £3 Bs. The bulk of the dealing in banks was in New Zealands, nine parcels of which changecj hands from 44s 6d down to 445. most of which were done at 44s 3d. To-day the price was 445, and further supplies were marketable at that figure. In Insurance, New Zealands and South British were steady at 37s and 50b 6d resepctively. More enquiry came forward for Westport Coals, which were released three times at 23s 6d without satisfying requirements. Business was of only moderate dimensions of the Mining section. King Solo-' mons took an easier trend, changing hands at 2s 9d, and subsequently at 2s 4d. Waibis were firm at los 6d. Mount Lyells moved favourably to 17s, and Cornish Points, were unaltered at 7d and 7Jd. .i . • . ——— ' f DUNEDIN. | i : LBSS INTEREST IN MINING STOCKS. [THE PKBBB Bytclal Barrier] DUNEDIN, September 4. The most noticeable feature of the activities of the Stock Exchange during I the past week has been the reduction in tLe volume of business in mining shares. The market has shown an easing tendency in all sections, especially in Government loans, where the demand has been practically negligible, .bank of .Mew Zeaiands have been fairly steady, and business has been done at 445; Buyers were ottering 43s t<wday, and sellers were asaing 44s 3<i. There has been little alteration in tho market for Commercial Banks, a sale of which took place at 13s 4d. Further offers of 13s <kl found Sellers firm at 13s ;sd. National Bank of New Zealands have " had sellers at £3 12s throughout the week, and are still being offered at the same price. A sale of these shares was recorded at ; £3j 10s. There has been a buyer of preferred Commercial -Banks at £5 Bs, but no seller has been attracted. Up to 49s 6d has , been offered for South. British Insurances without attracting sellers at ; less than 61s. Buyers of preferred Huddart. Parkers have offered up to 16s, but sellers have been reticent. : Westport,. Coals have been on offer at around 24s 3d, the best baying offer, being.23s. . Goldsbrough, Morts, which have been quoted at around 18s 6d (buyers) and 19s 6d (sellers). are now being asked for at 17s, with a. seller -forward at 17s 6d. Offers <of 4s 8d for New Zealand Guarantee Corporations found sellers firm at ss. Business has boon done in contributing New Zealand Refrigera tings at 3s Bd, and 3s 7d.: but the best offer to-day was 3s 6d, with sellers asking 3s 7d. Around 22s' 9d has been on offer .for British Tobaccos, sellers demanding Is more. The demand for ordinary D.l.C.'s has eased somewhat, and these shares are nqw- being, offered at 15s 3d without a buyer in the market. Eclipse Petrols are being Offered at ss, without attracting business. Offers of 28s for Woolworths have failed, to attract sellers: New Zealand Breweries have. continued to v ease slightly, business being done , at 29s and 28s 6d. The closing offer of 28s found sellers firm at 28s 8d ■ " ' Waihi Grand Junctions have been dealt in at 3s lOd. The close of the market found buyers offering 3s '7d, with a seller forward at 3s 10d. Four sales, of Okaritos took place i towards the: end of. the week art 9s 6d, a final "offer at* 9s 6d finding sellers firm at 9s 7d. A sale of King Solomons at 23 4Jd was followed by another "transaction at 2s 3d, and the shares continued to ease until at the close the best offer was 2s sellers asking 3d inore. • . Government. 5£ nor cent. Bonds (1937) have beert sold tor £95 10s and £95. The latter: figure; was offered today without attracting a seller. FURNITURE AUCTION. ■ Messrs H. G. Livingstone and- Co., auctioneers, Hereford street, - held * eale of furr iiiture on account .of various client? at their 'xpomS" Waa ,? ,t_ 'tendance of buyers, and the following' wore smonp rices realised:—AxrtiiQiter .carpet£l9.los, bedroom Buite. fonr ; oak duung clmirs ta I.os, china cabinet £7, tallboy 10s, duche'ssechest fit. 10s, single bed £1 to, "fi}eictrol\U! yacnum' oleiH».er 10s, mfJ»og*ny chair* £9 ' 10s,' wntiiw iable £2 'iSs, writing" deck i £3, occasional table_ £2 7s'' 6d, lounge.'"chair £4 10s, lounge • chair 43 7* 6d, chesterfield £8 10s, carpet : £5, carpet M 6b,' earpet JES, carpet £6, dining table and chairs £(5, office desk £2