FINANCE AND COMMERCE.

Press, Volume LXVIII, Issue 20500, 19 March 1932, Page 12

FINANCE AND COMMERCE.

SHARE MARKET. WEEKLY REVIEW. A QUIET PERIOD. Markets generally were quieter during the past week and the volume of business done on the Metropolitan Ex-

changes was below the average. Although a few stocks showed appreciation, prices on the whole were in favour of buyers, and, apart from one or two sections for which there is always a fair demand, sellers were more in evidence than buyers, who are no doubt waiting to see what the Government intends to do with the reports of the Economic Committee and the Economy Commission. Until the question o future interest rates has been decided, it is only to be expected that dealings in Government stocks will be restricted the week the Affiliated Stock Exchanges altered their method ot quoting all debentures, and the accrued interest, which in the past belonged the seller and was adjusted at the date of sale, is now included in the puce paid by the buyer. . The following is a comparison of the dailv recorded turnover on the locaj market for the past fortnight.

4n analysis of this week's gives the following week s totals in parentheses: Debent ires, £2300 (£C00Q); Banks £4045 (£3JBS), is? dronned to £9l- F° ur an( l a half. P er oent, 1938 Bands fell 17s 6d to dealings it 9« fid and those due lyoo were tVfmtfVsw. cent, Btiada, due 19«, £92. Five and a half per cent. StocK, due Febraary, 1937, changed hands at £97 10 9f and the September Stock at £96 15* to £96 6s. Five and » half per cent Bonds, due February, 1937, realised £97 Bs, a»Mhose_due September £9B Ss fid and £96 17s 6d. Christchurch City 4} per cent., 19 f f turefl were placed at £IOB and Otfthnhu Borough 8 per cent., 1961, at £99. HfomMwg Section. Australasias at *9 were on a par with lowest recorded turnover last week, mereial of Australia -were firm with transactions at 13s lOd and 13s 11a which were buyers' and sellers' closing quotes respectively—the P*® fo . rei i e , e were turned over at £6 2s 6d, £6 4s 6d, and £6 5s —and more aro available ftt £6 os, buyers at £6 2s 3d. E,, 8., and A. Bank shares eased to £4 ls,6d and U, and there are further buyers £3 Ids, sellew $4 gs- Au «" tralflsia £5 paid declined to £4 15s and £4 10s. National of New Zealand which weakened to* £3 7s fld and £3 8s last- ! week have buyers at £3 7s 6d, but hold- : ers -want £3 >8 6d. Now South Wales remained unaltered at £25 and £24 17s 6d, and more-are available at £25, buyers at £B4 ss. New Zealand? ranged from 42s Id to 42s 7d, compared with 42s 7d to 42s 3d. last week. For Union, i Banks, which dropped to £6 15s last : week,. Iftte buyers are offering £6 12s 6d, sellers at £6 19s. . Insurance, and Loan and Agency. National Insurances are available at 12s (last week's business figure) buyers at lla 3d, New Zealands moved up 6d : to bminew at 38s fid and 375, and late offers cf 355, fid bailed to aittract sellers. Senth British were fractionally weaker at 48s O<J «nd 40s od. Unsupported sellers «f, Standard" want 40p, Dajgety and Company appear weaker with sell* ers at £7 4s, buyers at £6 19s. Goldsbrough Morts are easier with sellers at 21? Bdi buyers at 21s 4d—last week's dealings ranged from 31s 9<l to 82s. N.JS. Guarantee Corporation were firm at 4s and 4s- 2d, and late buyers are offering 4« W, sellers at 4» 3d. Shipping, JETpmb Meat, aw. Sellers of P. and 0# Deferred Stock during the week came down to 24s (3d, buyers at 225. Union Steam preference we're firm at 20b Id, New Zealand Refrigerating 10» paid were placed at % Bd, 3s Od, and 3s 10d, as against 8s 4d to 3s 9d last, week, and mora aro wanted at 3s Bd, sellers at 3s lid; the fully paids Rie stronger, with bnyeria at 10s 3d, sellers at IQs &d; last'week's dealings were at 9® 7d and 9s 9d. Auckland Gas fully paid changed hands at 21s 9d, and thurc ar© Further buyers at 21s 6d, sellers at Christchurch had transactions at 24s and 24s 2d, and late buyers ara offering 24s 2d, sollers at 24s 4d. Breweries. The outstanding feature in this sectiop was tho recovery in Now Zcalands from 32s Od to 23s 9d, with further buyers at 28s Qd; sellers at 23s lid. Staples were placed, at 225, and late huyers at 21s 6d failed to attract sollers. For Tooths, which reooverod to iJ2s 3d and 22s 0d last weok, buyers are offering 22s without attracting sellers. Miscellaneous Section. Australian Glass advanced to 29s ..od, and tporo MB wanted at that price, but 6<}Uers aro reticent. British To1/ficcos, cum dividend, ranged from 27s tq 80s 6d, compared with 23s 3d and 84 a fortnight ago. Dimlop Rubbers were fractionally weaker at Ws, and more are on offer at that price, buyers 2d 'below. Electrolytic £inc preference, cum dividend, recovered to j2os ed, Farmers' Trading "B" preference changed hands at 10s 7Jd, the ordinary were firm at 0a 3d. Grey and Minnies realised fe 6d. Gordon and Gotch had business nt 245. Mount LyelU, which Jnst week fell to 19s Id, were turned over at prices ranging l'rom 19s 7d to 19s 2d. New Zealand Farmers' Fertilisers eaeed 6d, tp business at 12s. New Zealand Farmers' 00-operative 6J per cent. Stock, due 1940, was placed at £49, and there wore eubsoquent buyers-jit'thpt figure, no sellers. Woolwortlis (N.J5.) preferonce "rights" changed hands ftt 3s 6d, 3s 2d, 9d, .and 2s lOd, compared with 3s 3d last week. .

Gold Joining. The local turnover of 8100 shares is made up as follows, last week's figures iu - pwenthesw. Gulden Dawn 600 iIISQ) js King Solomon, 900 .(3200); (650), pfeckwftter eased to 6b. Consolidated : r«i9oTered to 2s id. Golden l)awna from 7a 3d to 7s to ' B u' c *SglPg Vp fid buyers,' 7s Gd 3»WJ Solomon shaded fi'pm Is sWing; in at the ttt lfm*t price, toyerg a£ Ud. Miihakito Sd tt close. Okaritos Hv»»«9d frcm 9» 3d fa h lOd to 9s id,

with further buyers at 9s, sellers at 9s Id. Waihis at 16s were on a par with last week's closing price. Grand Junotions eased to 3s 6d, and more are offered at that figure, buyers at ds 3dYESTERDAY'S TRANSACTIONS. Conditions on Call yesterday showed no change, and the recorded turnover was below the average. Transactions, exclusive of vestibule business, were : £BOO New Zealand Government per cent, Bonds, September, 1937. , 100 Bank of-Australasia (cum cuv.). 10U Commercial JUnk of Ausi. 345 N.Z. Guarantee Corpn. 100 Union Steam (pref.). _ 1300 New Zealand Refrigerating (10s paid) 100 New Zealand Breweries. £2OO New Zealand Farmers' Co-op. 6} per r:ent. Stock, 1940 (l«t e sale 17th). 300 Golden Dawn. 500 King Solomon. 300 Mahakipawa. 30 Okarito. New Zealand Government per cent. Bonds, due September, 1937, ha" business at £96 17s 6d. Bank cf Australasia shares, cum dividend, wii® firm at £9, market closing £3 lSs buyers, £9 Is sellers. Commercial BanK of Australia shares were taken at lOd. buyers staying in at that ngure, sellers at 13s lid. Sellers of Commercial Bank of Australia preference shares came down to £6 ss, buyers at £6 2s 6d. Other Shares. Dalgety and Company glares appeared weaker, with sellers at * j buyers at £6 19s. New Zealand Guarantee Corporation shares 4s 2d closing quotations Id on utnei side. ' Union Steam Ship preference shares were firm at 20s Id cl^ m |i[L s tations 19s 9d buyers, 80s W f'J"* New Zealand Refrigerating, 10s paid shares, moved up a point, tc> Ja and more were offered at 3s lid, buy ets at 3s Bd. New Zealand i»re\venes were firm at 23s 9d market closing 23s 6d buyers, 23s lid sellers. Bnttsti Tobaccos were slightly easier, with sellers at 26s sd, buyers ot ios /W. Sfcllers of Mt. Lyells reduced their limits to 19s 2d, buyers at 19s. A late sale of New Zealand Farmers C<>oPper cent. 1940 Stock, on Thursday, was reported at £42 and there weia farther buyers yesterday at that price, ° Voided Dawn Gold Mining shaven jumped to 7s 6d, filers staying in at that figure, bayers at 7s sd. Kine SolomoS cased to is, more were offered at that figure, bu>ers a tU Mahakipawas were fractionally m - with sellers and business at ?» buyers at 9s. Waihis weakened to 15s lid sellers, los 9d buyers.

This Week. Last Week. £ £ Saturday Monday Tuesday Wednesday ... 1,514 ... 1,057 ... 1.389 ... 2,325 851 2,030 2,635 3,262 943 973 Thursday Friday ... 1,460 ... 2,670 £10.415 £10,703