INVESTORS BUSY.

Press, Volume LXVIII, Issue 20629, 19 August 1932, Page 12

INVESTORS BUSY.

ACTIVITY ON STOCK MARKET. INCREASE IN VALUES. REVIVAL OF CONFIDENCE.

A material increase iu the number of transactions recorded at the Christchurch. Stock Exchange during the past several weeks, and the appreciation of loading stocks and shares indicate very plainly that investors arc sharing in the general revival of confidence. Jt has been estimated that at Wellington, Dunedin, and Auckland the transactions of the last month have represented more thnn double the business done in the same period last year; and although iu Christchureh the increase was not so great—because the decline that preceded if was not so severe—it has been substantial enough to improve markedly the prospects for the remaining months of the year.

Comparisons over the last six month? show a definite appreciation of the (/noted, values of Ihc leading stocks and shares. The market in the four main centres of the Dominion has shown a strong upward tendency during the l'ast five or six weeks, and this is still maintained in many sections. With the firming of values there has been a large increase in the actual turnover of stocks and shares on all exchanges. This increase is attributed largely to a rush of buying by comparatively small investors —the investments are in general from £2OO to £3O0 —who to-day are displaying a much greater degree of confidence in the general outlook nnd immediate future of the Dominion. Many of them, it is clear, have become dissatisfied, in view of the improved state of the market, with the lower rates of interest offered by the banks and are confidently turning their money into the more profitable field. The view seems to be held, too. that quite a number of the better-class shares have been for a Jong time quoted below their asset value, and a definite reaction has set in.

The Ottawa Conference. 'Trices arc definitely better than at this time last year, and there is more enquiry for investments," said the vicechairman of the Exchange (Mr 11. Kitson), yesterday. "Although things have improved, one does not want to let the public be deluded into the idea that there will be a rapid appreciation of stocks when the outcomo of the Ottawa Conferenco is known." It had been Iris experience, he added, that the chief factor promoting confidence among investors had been a firm faith that the outcome of the present Economic Conferenco would be of material aid to the Dominion. The present advance in stocks is all the more hopeful in that following the passing of the National Expenditure Adjustment Act, which imposed a 30 per cent, reduction on debenture interest, the market definitely weakened. Government securities, always the barometer of public confidence, were the first to show an upward trend in price and for some time they have figured more prominnetly in the daily sales lists. Their appreciation in value is shown in the following comparison of the quoted values on February 18th and on August 18th of this year:— February. August. • £ s. <l. £ «. d. 4A p»r cent. Insciibod, IS3B .. .. 94 0 0 95 5 0 it per cent. Inscribed, 1339 .. .. 04 0 0 9,> 7 6 EJ per cent. Bonds, 1937 .. .. 99 3 5 0 101 0 0 51 per cent. Inscribed, 1933 .. .. 03 30 0 99 0 0 Appreciation of Shares. The values of bank shares have risen to almost the same extent, and all in this section of the market are now at firm prices:— £ ». <]. £ 8. d. Australasia Hl2 t> 910 G Comm. of Aust. (pref.) 6 0 0 617 0 National of Australasia (£lO paid) .. W 1 6 10 13 0 Xow South Wales (cum <?. iv.) .. !3 0 0 56 10 0 fa Xcatand .. .. 2 4 7 2 G 4 Other typical advances in the market are as follows: Insurance— , I d. Xew Zealand 117 0 2 0 4 Standard .. .. J 2 0 2 3 9 (cum dir.) Loan and Agency— Dalgoty and Co. .. fi 15 0 7 9 0 Goldsbrough, Hort .. 12 9 1 ,V 7 Miscellaneous— Colonial SupaT .. SO 5 0 43 0 0

PRICE OF GOLD. (VSITRD PRESS ASSOCIATION—BY ELKCTIUC TET.EGBAPH—COP7P.rGHT.) LONDON, August 17. Gold (per line ounce) is quoted:— £ 8. d. August 17th .. ..5 18. 7. August 16th .. &18 0 August loth .. 518 5 PRICE OP SILVER. (BRITISH OiyiClAli WIRELESS.) (Received August 18tb, 5.5 p.m.) RUGBY, August 17. Silver (pence an ounce) is quoted as follows: Aug. I.j. Aug. 17, Spot .. Forward .. 1S» ISJ AUSTRALIAN PRODUCE. (VXITT.LP I.'KKHS ASSOCIATION— B* KI.KCTaIC iELEGr.A?n—cortniGHT ) (liecoived August 3Sth, 8 p.m.) SYDXEY. August IS. "Wheat—The market is quieter.- Quotations: Kx-tmclcs Sydney, Hs I'iil; ronntry stations, 2b 7Jd. Vlour—£lo 10p. Bran 3nd Pollard —£U. Potatoes —Tasmanian X.l. Victorian i.j JOs. Onions —Victorian and Japanese £'-5. Oaten Hay—£7. .\Faize—Yellow 5s 2d. while Is 6d. .ADELAIDE MARKET. (Received August JSth, 8 p.iu.) ADELAIDE, August 1.3. Wheat—Growers' lots 3 s I}J, lis "Jrl. Ftour—Bakers' lots £7 liis. Bran—£l 17s Cd. Pollard—£s 10s. Oats to Is 9d. SHEEPSKIN SALE. Pj-oe, Gould, Goinneas, Lid., held their .weekly sale yesterday. Prices tor sound skins were as follows: Pelts to id lb, crossbred 2d to 2id lb, three-quarterbred 3d to 3id lb, batfbred lid to 4id lb, lambs Sid to SJd lb, hoggets 3d to 3|d lb, merino 2d to 3id lb. Batchers' abattoir skins 9d to 5s fid cash, hoffgoi* Is 3d to 9* JOd,