SHARE MARKET.

Press, Volume LXVIII, Issue 20630, 20 August 1932, Page 12

SHARE MARKET.

YESTERDAY'S TRANSACTIONS. There was a good volume of diversified business on call yesterday in a limited number of stocks and markets I generally were firm. Transactions, exclusive of vestibule business, were: — 500 Comm. Bank of Aust. (late sale 18th). 110 Comm. Bank of Aust. (pref.) 200 Bank of New Zealand. 55 Dalgety and Co. GOO Goldsbrough, Mort. 225 N.Z. Refrig. (10s paid). 200 N.Z. Breweries. 100 British Tobacco. 100 Electro Zine (pref.). 300 Mt. Lyell. 1500 Golden Point. A late sale of Commercial Bank of Australia shares on Thursday was reported at 14s, and yesterday's quotations were Id on either side the preference changed hands at £6 17s 6d and £6 16s 9d, and there were further buyers at £6 17s 3d, sellers at . £0 18s 3d. Bank of New Zealand shares were firmer, with dealings at 47s and 47s 3d, and further .buyers at 47s 3d, sellers at 47s 9d—the "D" mortgage shares had improved demand at 27s Gd, no sellers offering. Other Shares. Buyers of New Zealand Insurance shares raised their bids to 41s, sellers at 42s 6d. Dalgety and Company shares rose to £7 13s 6d, and more were wanted at £7 12s Gd, sellers at £7 18s. Goldsbrough, Morts were a shade easier at 23s lid and 245, market closing 23s lid sellers, 23s lOd buyers. Buyers of N.Z. Guarantee Corporation shares advanced their offers to 5s 9d, sellers at 7s sd. N.Z. Refrigerating 10s paid shares were firm at 4s 7d, buyers staying it at that price, sellers at 4s 9d. New Zealand Breweries shares hardened to 26s lid and 27s Id, market closing 26s lid buyers, 27s 3d sellers. British Tobaccos moved up to 29s 3d, market closing 29s Id buyers, 29s 6d sellers. Australian Glass shares were firmer on buyers' offers 38s Gd, sellers at 39s 6d. Electrolytic Zinc preference were fractionally firmer at 22s lid, sellers staying in at that figure, buyers at 22s 9d. Mt. Lyells moved up a point to 20s, and more were offered at that figure, buyers at 19s lid. Whitcombe and Tombs had improved demand at 555, sellers at 60s. Buyers of Wilson's Cements advanced their offers to 29s 7d, sellers at 3os. Golden Point Gold Mining shares remained unaltered at 7£d, and there were further sellers at that price, buyers at 7d. Sellers of Okaritos reduced their limits to 8s 6d, buyers at 8s 4-id.

WEEKLY REVIEW. GOOD VOLUME OF BUSINESS. During the past week the share market was buoyant, aud a good Tolume of business was recorded on the Metropolitan' Exchanges. The success of the British War Loan conversion is a contributing factor on the market prices generally,' and higher metal prices caused a rise in Zincs and Lyclls. Pastorals, Banks, Insurance, and Breweries also advanced to higher levels. The Government section was quiet but firm. The following is a comparison of the daily recorded volume of business on the local market for the past fortnight: This Last Week. Week. £ £ Saturday ... 2.220 285 Monda\' ... 2,604 2,124 Tuesday ... 3,215 Closed Wednesday ... 2,973 1,080 Thursday ... 2,810 2.280 Friday ... 3,645 1,628 17,467 7,997 An analysis of this week's total gives fcho following results —last week's figures in parentheses: —Debentures £2OO (£900), Banks £6314 (£2545), Pastoral £2774 (—), Kefrigerating £IOO4 (£299), Breweries £2381 (£832), Lyells £IOB3 (£765), Mining £6BO (£147). Four and a half per cent. Stock, due 1939, changed hands at £95 10s and £9O 10s —the Bonds were firm at £95 10s. Five and a quarter per cent. Stock and Bonds, due 1933, ex half year's interest had business at £9B os;s£per cent. 1933 Stock was 5s easier at £99 10s; 5J per cent. Stock, due 1936, changed hands at £99 and £9B 17s 6d and the Bonds realised £99; 5$ per cent. Stock, due February, 1937, ex half year's interest, had dealings at £99 2s 6d and £99; 5J per cent. Stock, due September, 1937, was turned over at £lOl ss, £lOl 7s 6d, and £lOl 10s. New Zealand Breweries Bonds were placed at 20s sd; Christchurch Drainage 5i per cent. 1965 debentures at £101; and Waitemata County -5| per cent., 1944, at £97. Banking Section. In the banking section, Commercial of Australia and New, Zealand were the most active stocks. Commercial of Australia advanced from 13s 8d to 14s — the local turnover was 1410 shares —the preference changed hands at £6 16s, £6 16s 6d, £6 17s 6d, and £6 16s 9d. E., S.. and A. moved up to £4 2s 6d, and late buyers are offering £4 3s, sellers at £4 7s. National of Australasia £5 paid rose Is 6d to £5 4s, and more are wanted at £5 4s 9d, sellers at £5 8s 6d. National of New Zealand were firmer with dealings at £3 8s 6d and £3 10s — and further buyers at £3 10s, sellers at £3 12s. New South Wales, cum dividend, were firm at £26 15s. New Zealands recovered from 46s to 47s ou the local market 980 shares changed hands; the "D" mortgage shares roso to 27s 6d and 27s 3d. Union Banks ranged from £7 to £7 2s 6d. and more are wanted at £7 Is 6d, sellers at £7 4s 6d. Shares on the Melbourne Register realised £7 0s 6d and £7 Is 6d. Insurance and Loan and Agency. For National Insurance, which reached 12s 8d last week, recent buyers offered 13s, without attracting sellers. New Zealands advanced from 40s 3d to 41s. Standards have improved demand at 445, but sellers are reticent. Dalgety and Company hardend to £7 10s and £7 13s 6d, and there are further buyers, at £7 12s 6d, sellers at £7 18s. Goldsbrough, Morts firmed to dealings at prices ranging from 23s od to 24s 3d, closing at 245—1500 shares changed hands_on the local market. New Zeab;jid Guarantee Corporation shares advanced to ss. and late buyers are offering 5s 9d, sellers at 7s 3d'. Shipping, Frozen Meat, Coal and (Jas. Huddart, Parkers moved up to 27s ?'?. 3d > .™ d 3f7s 6d - Northern Steam lully paid were firm at 7s. Gear Meats remained unaltered at 32s 9d, but late offers of 33s failed to attract sellers A.Z. Refrigerating £1 pa id shares fluctuated from lis 4d to lis lOd to lis 6d—the 10s paid gradually firmed from 4s 3d to 4s 7}d—3575 shares changed hands locally. Westport Coals recovered 3d to 12s 6d, but late sellers are offering at 12s 3d, buyers at lis 9d. Stockton Coal, ordinary shares, changed hands at 6d, and the preference at 9d. Christchurch Gas had .business at 24s 6d. and more are wanted at 24s 4d, sellers at 24s Bd. Wellington, ordinary, had dealings at 30s and 30s 3d. Breweries. New Zealands and Tooth's accounted tor all the recorded turnover in this Zealands on a local turnover of 1200 shares advanced from 2os 3d to 27s Id. with late buyers at 26s lid sellers at 27s 3d. Tooths hardened to dealings at 27s 6d market closing 2d. on either side. Buyers of . Carltons moved up 4s over'the week to 335, but sellers wanted 355. Miscellaneous Stocks. Australian Glass rose 9d to 37s 6d, and late buyers are offering 38s 6d, sellers at 39s 6d. British Tobaccos realised 28s lOd, 295, and 29s 3d. Colonial Sugars rose to £44 os £44 10s, £45 os, and £45 10s. Dunlop Rubbers were fractionally firmer at lis lid, and more are wanted at 12s 9d, sellers at 14s. Electrolytic Zinc preference adva.icad to 22s 9d and 22s lid. Farmers' Trading, ordinary, moved up to 4s 6d—the "B" preference realised 7s 9d. Milburn Lime hardened to 255. Moturoa Oils showed little variation at 3s 3d. Mount Lyells on a local turnover of 1100 share? went from 19s 6d to 20s. New Zealand Farmers' Fertiliser, ex dividend, were firm at 13s 9d. New Zealand Paper Mills had dealings at 21s and 20s 9d. Robinson Ice Cream were taken at 16s. Taranaki Oils moved up to Is 7d and Is 7-Jd. Union Oil Soan and Candle were stondv at 22s Cd. Wilson's Cement<: wore firmer ft prices from 2Ss 9d to 29s 3d. = " Gold Mining. The local turnover of 13,550 shares was made up as follows: Golden Dawn 500. Golden Point 10,000, Mahakipawa 2500, Okarito 3-30, and Waihi 200. Golden Dawn moved between 5s 2d and 4s lid. Golden Point were a shade Stronger at 7d, 74d, and 7Jd. Gillespie's Beach were taken at par. Alexander, 'partly paid, changed hands at 17s 3d; Blackwater at 12s 6d; Consolidated at ss; Kawarau at 6d: and King Solomon at Is 7d. Mahakipawa bad .dealings in the ordinary at 3ld, and in th#» preference at sd. Ok'nritos ' weakened from 8s Hr] to 8-= fid. Waihis were firm at 15s lid and'l6s.

AUCKLAND.

[THE PRESS Special Service.] j AUCKLAND, August 19. Active conditions existed on the Auckland Stock Exchange throughout the week. A feature has been the substantial appreciation of a number of leading industrial investments. Following tlie payment of interest upon several 5£ per cent. Government loans offers underwent a readjustment, but the tone of the division remained very firm, with supplies difficult to secure at buyers' ideas. Apart from some dealing on Wednesday last in 1936 and 1937 54 per cent, at firm rates, little business was done in gilt-edged. Steady levels continued in banks, in which the turnover was chiefly confined to New Zealands and Commercials of Australia. New Zealands recovered Is to 47s 3d in daily business, and both issues of Commercials firmed a shade to 13s 9d and £6 16s 9d. In insurance, New Zealands provided the only business, advancing 6d to 40s 9d, and then to 41s. Other issues were firmly held in spite of improved support. Most sections of the market commanded more attention from investors. A gain of 6d took place in Goldsbrough, Morts, which were done up to 245. New Zealand Breweries also made steady progress, changing hands up to 275, a rise of Is 9d. Activity was most marked in general investments,' in which the upward movement was led by Colonial Sugars, in a rise from £43 to £45 10s. All Australian issues found better support and a good deal of business was cfone in New Zealand Industrials at steadv to firm levels. Mining issues attracted the usual attention, with little fluctuation in prices until toward the end of the week, when a firmer trend developed. Waihis improved a penny to 16s while Mount Lyells advanced to 19s 7d. and finally to 20s.

DUNEDIN. [THE PEE S3 Special Service.] DUNEDIN, August 19. There was a normal amount of business transacted on the Stock Exchange during the past week, sales being distributed over the banking, meat preserving, miscellaneous, mining, and Government loans sections. Bank ot Zealand were dealt in at £2 6s ,6d and £2 6s 9d, the market remaining fairly steady throughout the week. At the close the shares were being asked for at the former figure, with no seller forward. There was a sale of Commercial Banks at 14s, the demand having improved from 13s Cd at the commencement of the period. The closing quotations were 13s lOd (buyers) and 14s 2d (sellers). The demand for banking shares was generally good. Enquiry for Insurance snares continued steady, but sellers, were reticent. Howard Smiths continued to improve in demand, and there was an unsupolied buyer at the close at Bs. The offer for ICaitangatas continued to improve, and there is now a buyer at Is 6d discount with no seller in the market. There was an improved demand for Dalgetys, which are now being asked for at £7 12s. Offers of up to lis for "ordinary Wright, Stephensons failed to attract a seller. Gear Meats continued steadily in demand, and there was a buyer at the close at £1 12s, with no seller forward. Paid-up New Zealand ltefrigeratings were dealt in at lis 10d and lis 6Jd, the demand slackening slightly during the week. The closing offer was lis 3d, with no seller coming into the market. Business was done in the contributing issue at 4s 6d. The demand continued firm and offers of the same figure later found sellers firm at 4s Bd. Offers of £1 18s for Australian Glass failed to attract a seller; The demand for Donaghy's Ropes reached £1 10s, but the market remained bare of sellers. A sale of Milburn Limes at £1 5s was followed by further offers of £1 4s 9d, but no further business was attracted. There is now an unsupplied buyer of New Zealand Drugs at £2 15s. Sales of New Zealand Breweries at £1 6s 3d and £l.6s 6d were followed by offers of £l-6s 6d, sellers remaining reticent. The demand for Mount Lyells showed an appreciable improvement, and these! shares are now being asked for at £1 0s Id, with a seller Jn the market at | £1 Is. There -was a sale of Okaritos at Ss Bd, and further business was done at 8s 6d. Offers of Id less than the latter figure found sellers firm at the close of the market at 8s 7d. There (has been some easing in the market |

for Golden Proyross shares, and quotations now stand at lb (buyers) and Is 9d (sellers) Golden Points were dealt in at 7}d, and remained steady throughout the week. At the close there was a buy el- at 7d,' sellers re--111111111"? (inn at 7id. There was a transaction in Gill<?spies at par, the closing quotations being £d discount (buyers) and |d premium (sellers). The demand for Government Loans continued steady, and 4J per cent. Stock (19159) was dealt in at £'JG 10s. '6\ per cent. Bonds (September, 1937) at £lOl 10s, and 5-i per cent. Stock (September, 1937) at £lOl 10s.