SHAKE MARKET.

Press, Volume LXVII, Issue 20412, 5 December 1931, Page 12

SHAKE MARKET.

WEEKLY REVIEW. . A QUIET PERIOD. During the past week recorded dealings on the Metropolitan Exchanges showed a substantial falling off in all sections of the market. Confidence in the result of the General Election was reflected in firm markets immediately prior to the polling day. Results fully justified this confidence, and although the immediate effect on markets was scarcely noticeable, several stocks developed strength and closing in a number of cases were above ruling levels last week. Government tax free issues appreciated from 10s to 15s, and there was steady demand for leading lines in each section. The following is a comparison of the daily recorded volume of business done on the local market for the past fortnight:—

An analysis of the figures gives the following results, last week's totals being shown in parentheses:—Debentures £4OOO (£8000); Banks £2233 (£5772); Goldsbrougb, Morts £1216 (£3100); Breweries £1707 (£3036); Lyells £596 (£1743); Gold Mining £1399 (£964). In Government issues the 51 per cents, attracted the bulk of the business—the 5i per cent, stock, due 1936, ranged from £9B 5a to £9B 10s. Five and a half per cent. 1937 Stock recovered from £9B 5s to £99, and the bonds from £9S 7s 6d to £99.. Four and a half per cent. Tax Free stock, due 1938, gained 10s, •with, business at £96 10s, and the Bonds at £96 17s 6d scored a rise of 15s over the "week. Five and a quarter per cent. Stock, due 1933, realised £97 10s, and the Bonds hardened to £9B. Five and a half per cent. 1933 Stock changed hands at £9B 15s and £99 and there are further buyers at £9B 15s, sellers at £99 ss. Auckland City 5J per cent. Debentures, due 1956, were placed at £9B, Lyttelton Harbour 5J per cent., 1953, at £9O 10s, and Gisborne Sheepfarmers 6i per cent., 1941, at £75.

Banking Section. In the Banking Section the most active stocks were New Zealands and Commercials. - Australasias weakened to business at £9 3s, anc(. late sellers are offering at £9 2s 6d, at £8 12s 6(L Commercial of Australia were steady at 16s, 16s Id, and 16s 3d—last week's range was from 15s 9d to 16s 9d and more are available at 16s 6d, buyers at 16s Id—the preference which moved up to £6 6s have buyers at £6 ss, sellers at £7. E., S., and A. are firm at £4 8s buyers, £4 14s sellers—dealings last week were at £4 9s 6d and £4 10s. National of Australasia £5 paid eased 2s to business at £5 and ,late buyers are offering at that figure, sellers at £5 3s. National of New Zealand, cum dividend of 4 per cent., dropped from £4 15s to £4 lis and £4 lis 6d and more are on offer at £4. buyers at £4. New Souti Wales, ex dividend, are wanted at £26 ss, recent sellers at £2B ■ —last week cum dividend they realised £29 and £2B 15s. New Zealand' 3 cum dividend rallied from 47s 3d to 48s — last week they slid from 4®s to 47s lid —and there are further sellers at 48sj buyers at 47s 9d. Union Banks changed hands at £B, £8 Is, and £7 19s, as against £8 Os 6d to £8 2s a week ago. Insurance and Loan and Agency. National Insurances .were firm at 13s and 13s Id, subsequent unsupported sellers asking 13s 3d. New Zealands rose 6d to 40s 6d and buyers at 40s failed to attract sellers. South British eased to 54s 3d and 545. Dalgety &qd Company, ex dividend of 4s per share, were stronger with dealings at £B, and £7 17s. Goldsbrougb, Morts on a local turnover of 1100 shares ranged from 23a 2d to 21s 9d to 22s (last weelc. 22s 3d to 23s 4d), and more are wanted at 22b 4d, sellers at 22s lOd. New Zealand Loan and Mercantile Ordinary stock changed hands at £SO. • Shipping, Frozen Meat, Woollens, Coal, and Gas. Northern Steam 7s paid shares were released at 2s 9d. N.Z. Refrigerating 10s paid shares were fraetlonaly weaker at 4s 2d and 4s Id, market dosing 4s 2d buyers, 4s 6d sellers. Wellington Woollens Ordinary eased 6d to £4 6s.

Buyers of Mosgiels offered up to £6 < 15s 6d, without response. Westport Coals, ex dividend and bonus amounting to Is 3d per Bhare, advanced to 255, and late offers of 24s 9d did not attract sellers. Stockton Preference realised 6d, market closing 8d buyers, 2s sellers. Auckland Gas fully paid were fractionally firmer at 23s 7d. Wellington preference were turned over at 15s 9d. Breweries. New Zealands cum dividend had small business at 29s 3d, 295, and 29s Id (last ■week's dealings ranged from 29s 8d to 30s), and late sellers are offering at 29s 3d, buyers at 28s lOd. Staples were firm at 28s, and there are further unsupported sellers at 28s 6d. Tooths ex dividend of 4 per cent, hardened from . 19s 3d to 20s 2d—last week's range cum dividend was from 19s 8d to 20s 3d —and closed stronger at 20s Od buyers, 21s sellers. Miscellaneous. ' In the miscellaneous investment secs tion British Tobaccos, cum quarterly dividend of-li per cent., had business at 24s 6d, closing at 25s 9d buyers, 26s 3d sellers. Bycrofts were stronger at 27s 6d. Colonial Sugars changed hands at £36 ss, £36, £36 7s 6d, and £36 12s 6d> as against £36 10s to £36 last week. Dnnlop Bubbers realised lis 3d, and more are wanted at lis (3d, sellers at 13s. Electrolytic Zinc preference hardened to 19s 6d —an advance of Is on last week, and closed at 19s 3d buyers, no sellers. Farmers' Trading were fractionally weaker at 5s lid. Mount Lyells, cum dividend, recovered from 19s 9d to 20s, and more are wanted at 20s 3d, sellers at 20s 4d. Wilson's Cements ex dividend of Is per share, realised 35s Cd. Woolworths (N.Z.) preference were firm at' 24s 9d. Gold MiningFigures in parentheses after each stock indicate the number of shares that changed hands on the local market:— Golden Dawn (200 dropped from 7s to 5s 9d; Golden Point (3900) shaded from 7d to Sid; Golden Progress scored a. rise of 7s Bd, "with business at 32s 6d; King Solomons (400) were fractionAlly weaker at Is Bd, Is sd, and Is 7d; Xtahakiimwus (8000) were steady at •ijd; Okaritob (1600) fluctuated from I®s'lod to 10s 6d to 9s 9d; Wniliis (300) ■k-jtdvapced from 15s 6d to 16s iid—last

week las 4d to 15s 3d; Grand Junctions were fractionally firmer at 3s 6d, 3s 7d, and 3s Bd. YESTERDAY'S TRANSACTIONS. Markets generally were quiet but firm on call yesterday with a hardening tendency in several Australian stocks. The recorded turnover was small. Transactions, exclusive of vestibule business, included: — £SOO Gisborno Sheepfarmers 6J per per cent., 1941. 400 Bank of New Zealand.. 20 Union Bank of Australia. 400 New Zealand Breweries. 2000 Mahakipawa Goldfields. 100 Okarito. 100 Golden Dawn. 300 Golden Point. Gisborne Sheepfarmers 6£ per cent., 1941, Debentures were stronger at £75. Bank of New Zealand shares cum dividend were fractionally firmer at 48s, sellers staying in at that price, buyers at 47s 9d. Union Bank of - Australia shares were easier at &7 19s, market closing &7 18s buyers, &7 19s 6d sellers. Other Shares. Goldsbrough, Morts hardened to 22s 4d buyers, 22s lOd sellers. _ New Zealand Breweries shares cum dividend had dealings at 29s 3d and 29s Id, and there were further sellers at 29s 3d, buyers at 28s lOd." Buyers of Tooths Brewery shares advanced their offers to 20s 6d, sellers at 21s. British Tobaccos cum dividend were stronger with buyers at 25s 9d, sellers at 26s 3d. Buyers of Electrolytic Zinc preference shares offered 19s 3d, without attracting sellers. Mt. Lyells cum dividend advanced to 20s 3d buyers, 20s 4d sellers. Golden Point Gold Mining shares remained at si& sellers staying in at that price, buyers at sd. Golden Dawns dropped to 5s 9d, market closing 5s 9d buyers, 6s sellers. Mahakipawas remained unaltered at 4Jd. Okaritos relapsed to 9s lid and 9s 9d, and there were further sellers at 9s lOd; buyers at 9s Bd.

AUCKLAND. SMALLER VOLUME OF BUSINESS. [THE PEE S3 Special Service.] AUCKLAND, December 4. Trading has been of smaller dimensions on the Auckland Stock Exchange this week, the few days prior to the election being the quietest period. Following the announcement of the results, the market made a fairly general upward move, which was accentuate*! by the record price of gold creating a stronger market for gold mining scrip. Increased buying support in Government loans was one of the most marked effects of the vote for the Coalition Government, and nearly as much business was put through in the gu l " edged section the day after the election as was done, during the whole or the previous period. To-day sellers were difficult to locate, although offers were on a firmer basis. Dealing in banks has been practically confined to New Zealands, which moved irt sympathy with Government securities, business closing at 48s, a rise or 9d on the levels at the opening or the , week. Commercials of Australia, after a weak opening, are stronger, dealings at 16s Id leaving requirements unsatisfied. New South Wales appreciated sharply to-day, an advance of £2 in offers to £27 attracting a selling quotation of £2B. In insurance, New Zealands niovea up after the elections, and Bold «a dearer at 40s 6d. South British weaken®! 3d to 545. . . . „ iipart from the interest m mwing> trading in other sections was very light. New Zealand Breweries closed on a lower basis, with offers at od, sellers asking 29s 9d, compared with business last week at 29s 10£ a. Colonial Sugars gamed 7s 6d in trading at £26 12s 6d. An advance of B*d over the week was registered in Waihi Gold Mining shares which provided the bulK of the turnover in the mining section, most of the transactions taking plac* at from l6s to 16s 2}d Grand Junctions also moved favourably frames 6d to 3s Bd. Okaritos, after a penod of neglect, made 10s 4d, and for Mount Lyells 20s Was paid, a rise of Is over the past fortnight.

dunedin. FIRMER TONE EVIDENT. [.THE PEESS Special Service.] DTJNBDIN, December 4. The volume of business on 'Change this week was better than that of the previous period and the market generally had a firmer tone. Sales of Commercial Banks were made at 16s, los Id, and 16s 3d,, the closing quotations being 16s Id (buyers), 10s 5a (sellers). Bank of New Zealands were quoted ex dividend at 46s 6d (buyers) and 47s 6d (sellers). A transaction in National Insurances at 13s Id was followed by an easing in the demand to 13s 2d, with no buyer in the market. The demand for Westport Coals now stands at 24s 9d, sellers asking Is more. Dalgetys have been dealt in at £7 17s and have since been offered at £8 Is without attracting a buying quotation, Goldsbrough, Morts continue in demand at 225, the best selling quotation being 235. Business was abne in these shares at ■ 22a 6d. Loan and Mercantile ordinaries, which had a buyer at £SO for some time, were dealt in at that figure at the close of the week. British Tobaccos are now being asked for at 24s 6d, sellers demanding Is 6d more. The offer for Crystal Ices stands at 22s 6d. Offers of up to 27s 6d have been made for Milburn Limes, sellers asking 295. There was a sole Of "Wilsons Cements during the week at 35s 6d. They were later offered at 365, with no buyer forward, New Zealand Breweries had buyers at around 29s during the week, and a parcel was turned over at that price. A closing offer of 29s found sellers firm at 29s 9d. Dunedin Breweries are still being enquired for at 17s. There is a seller in the market at 22s 6d. Waihi Grand Junctions were dealt in at 3s 6d, and a later offer of 3s 7d failed to attract a seller. Okaritos were first dealt in at 9s lOd, sales taking place later at 10s. At the close the best offer was 9s lOd, with Bellers demanding 10s Id. Golden Progress shares are firmer. There was a sale at 32s 6d and they are now being enquired for at 335, sellers remaining firm at 40s. King Solomons are being quoted at Is 6d (buyers) and Is 9d (sellers). Business was done in 54 per cent. Bonds (.1937) at £9B 12s 6d and £9B 10s. The demand for these improved during the week and the close of the ranrket found buyers offering £99 aifa sellers demanding par. RANGIORA HORSE SALE. ' There Was an entry of about 60 horns »t the monthly horse sale at Bangiora yesterday. There v.'ub very little demand for anything but pood draughts. Best draughts, four to eix years old, made from £SO to £io. Idod draughts made £3O to <25, aged draughts £5 to £l2. unHiokcn drrugbt* £l2 to £lB, htcUs £2 to £3-

gni.. — This Last "Week. Week £ £ Saturday .. 1,141 2,845 Monday .. 3,589 1,134 Tuesday .. 1,258 4,383 Wednesday .. 1,300 5,379 Thursday .. 2,614 7,089 Friday .. 2,326 3,521 £12,228 £24,351