SHARE MARKET

Press, Volume LXXI, Issue 21470, 11 May 1935, Page 12

SHARE MARKET

WEEKLY REVIEW ' latcd exchanges wer» tor one day, the number «r Mi's recorded during the week waa « «<*** weekly average. Prices waved irregularly, but last week's tkmnd ra»«s were well maintained and trveral atocks «ained ground. On the total market the breweries section ■unts active .ieici there was a good turnover in some Australian industrials. In the miscellaneous section there w«s heavy trading in Sun Newspapers. gold mining section mrta much quioier. The following is a .comparison of ..<e daily recorded volume of business for the last foriiugnr This week. Last week.

j;.t- local turnover was made up as 'follows:—Debentures £1330, banks i;i#22, pastoral £1491, refrigerating £ 3S'i, breweries £7530, mining £2289. Ine number of shares that changed fua/>dis in each section was:—Banks 555, insurance 760. loan and agency 732, frozen meat <583, woollens 35, coal 302, breweries 25(52. miscellaneous 5-133, gold mining 10,200. Government Loans The following transactions were recorded:—

Auckland Harbour Board. -I i per cent, debentures, due 11140, changed hands a l £lO2 10s; Auckland Transport., 4J pt-r cent., 1910, at £lO5 10s; Sou til Canterbury Pllectrie, 4.1 per cent., I'W), at £l(>3; Wellington Gas. 6} jar teni , 1;J41, .it ClO4. iluliks' A«~'.ra'.x>iu.i were iirm at XII and a. 10 Commercial of Australia w-t-rc fruciii naily firmer at 15s lOd and S:Vs l.hl— the preference eased to £9 I b E., S. and A. advanced to X 4 !&, 'ld. national of Australasia, fully pa.ii. moaned at Xl2 13s (id—the £5 paid lia-J business at £6 2s Od. National oi New Zealand had dealings at tf7j> fld and His. New South Wales, cum dividend, were steady at X3l. JVew Zealand, cum dividend, changed JwmU at 50s fid to 51.v--the "D" Mortgage ttwe lirm at 345. Reserve Banks were dealt m at £8 13s 6d to X 6 12s SWL Union Banks were firmer at XB }2* Cd and J' 12.;. tosanuaee auul Liwo and Agency Australian Provincial advanced to sl# 7d and 21s 6d. National, cum dividend, were firmer at prices ranging from 23 s7d to 21s lOd. New Zealand were cteady at Vis. South British were firm at 90s 3d and 90s. Standard matt to 72s tid and 72s Bd, Dalgetys, .eum dividend, were firmer at X 8 to ;'XB 6s fid. Goldibrough, Morts moved 3between 30s 3d and 30s fid. Dominion Investment and Banking changed ,'hsndsi at 163 6d. National Mortgage ["A* had business at 525. North Auckland Farmers' Co-op., "B" preference, jmioved up to fe, and Traders' Finance • 'contributing) to 2s 9d. IfiWppjnjr, Frozen M' it. Woollens, Coal : and Gas D.votiport Ferry advanced to 22s 9d. '.*• or t hem Steam (contributing) were firmer at Is 2d and Is ,3d. Union Steam, preference, reAaoained unaltered at 27s fid. New Zeajjtend Refrigerating 10;: paid were a |Sha"!e (stronger at 9s to 9s 2d. Southland (ordinary; moved up to 775. Bruce Woollens were steady at 13s BJ. jjMoßgie! had business at £ll. PukeSniro remained unaltered at 22s Gd. Westport cum dividend eased to 21s JW. but recovered to 21s 6d at the close. Auckland Gas were firmer at 28s to |JB* 3d. Chriutchureh rose to 36s Cd. I Breweries } Dominion advanced to 15s Cd. New Zealand ranged from 55s to 55h 9d to K»»—last week 54s 3d to 55s Id. Staples. ' which reached 33s 6d last week, eased o 33fi, and closed with local sellers at Si. Tooths are firmer with local ./uyers at 52s—last week's peak price Was 52 s. Miscellaneous Anthony Hordern rose to 13s 2d—the preference had business at 245. Beath ar.d Company declined to 30s 6d, 30s 2d, and 30s. British Tobaccos showed •»fi easing at 38s to 38s Bd. Broken Bill Proprietary cum dividend rose Jrvrn JS3s to 553. Claude Neon 'Sydn«*y.' ftrmed to 48a 3d and 50s—Claude fitxm <N.Z.) were easier at 425. 'Consolidated Brick dropped to 7s. Colonial Sugar cum dividend were firm at £*2 7$ 6d. Dominion Fertiliser cum ffsvjdmd remained at 22s 4:1. Dunlop Rubber* were dealt in at 17s 3d to |8« 10d. Electrolytic Zinc preference Jwere steady at 34s 3d- Farmers' Trading moved up to 7s 9d and 7s lOd. iC.D.Y. Boxes -10s paid realised 10s <S'I. Kauri Timber advanced to 19s f*d. Manawatu Knitting Mills were firmer at 37a and 37s 3d. Milburn lime remained at 445. Morris Hedfftroro preference were dealt in at 23s 30d. National Timber recovered to 12s 3d. New Zealand Drugs were lirm |pt 7Ss 9d and 30k. New Zealand farmers' Co-op. 4J per cent, stock, due 5941, ciianged hands at £Bl 10s. and ftihal due 1942 at £Bl. New Zealand Sfewtpaper# firmed to 35s 3d. Sanfords were easier at 2s 6d. Sun Kew*papers rose from 5s to 6 s sd. Wtlsom Cements cum dividend moved Vf to 35t 3d. Wool worths (N.Z > ordinary receded to XII. I Gold Mining: j The local turnover of 10,200 shares %«• made up as follows: Alexander G5« paid) 50, Bendigo Cold light* 500. Brian Boru 500, Golden Point 2000. King Solomon 150, Lawson's Flat 500. Mahakipawa 1300. Maori Gully 21CK), Mount Lyell 1450, Skippers J3OO, Waihi 'cum div.) 350. Alexander »*5- paid* were firm at 1% 3d. Bewiigo Goldlights at lid and 3«. Brian Boru at *ld, Gillespie's Beach «'• &Jd and Is sd, King Solomon at 4a sd, Lawsson's Flat at sd, Mahakipawa at fid, Okarito at 6s. Skippers at 2|d„ Maori Gully at Is 7Jd and Is 7d. Big River showed an easing at 2s (Id and 2s vj. Golden Point at Id, Mataki ft it Gd. WaJhis <cum dividend) from 43s «d to 42s 3d to 42a 3d. Mount LyelAs fluctuated between 20s Id and m *A. KJldares moved up to 3» 3d. Mount Morgans to 37s 8d and 38s, and Grand Junctions to 4s fid.

YESTERDAY'S TRANSACTIONS

Markets on the whole continued firm on cali yesterday, and there was a moderate turnover. Government issues were in steady demand, but sellers were reticent. Transactions (exclusive of vestibule business) were:— LISTED STOCKS Sales on 'Chaaige

I Bank Shares Commercial Bank of Australia were fractionally weaker with sellers and business at 15s lOd, buyers at 15s Bd. E., S., and A. had business at £4 IBs fid, and more were offered at that price, buyers at £4 16s (id. Bank of New Zealand (cum dividend) were firm at 51s, closing quotations 2d on either side. Reserve Banks eased to £6 12s 9d, buyers staying in at that figure, sellers at £6 13s 3d. Union Bank of Australia were firmer on buyers' offers £8 12s od. Dalgety and Company (cum dividend) advanced to £8 (Is 6d, market closing £3 3s buyers, £8 6s sellers. A late sale of Westport Coal (cum dividend) on May 9 was reported at 21s Cd. and business yesterday was at that price, market closing 21s Od buyers, 22s 6d sellers. New Zealand Breweries declined to 55s 3d and 555, market closing 55s buyers, 53s 2d sellers. British Tobaccos were steady with sellers and business at 38s Bd, buyers at 38s 7d. jjunlop Rubbers eased to j 17s and 16s lOd, and there were further sellers at the lower price, buyers i at 16s 9d. Manawatu Knitting Mills j moved up to 37s 3d. Sun Newspapers rose to 6s sd, closing quotations 6s 3d buyers, 6t; 6d sellers. j Mining A late sale of Golden Point on May 9 was reported at Id, and yesterday's quotations were K on either side. Maori Gully were firm with sellers and business at Is 7d, buyers at Is 6-ld. Mount Lyells were fractionally firmer with dealings at 20s and lbs lid, market closing 19s lid buyers, 20s sellers. Waihis '(cum dividend) changed hands at 42s Bd, and more were wanted at 42s 6d. Unlisted Stocks Whitens Electric (Gd paid) were fractionally weaker at 4|d. Woolworths (Sydney) ordinary remained unaltered with sellers and dealings at 88s Od. AUCKLAND ITHE F3BSS Special Serviced AUCKLAND, May 10. In spite of the lessened activity, the tone of the Auckland Stock Exchange this week remained firm, particularly for industrials. Of major interest during the week was the issue of the Mortgage Corporation prospectus, offering for public subscription 500,000 shares of £1 each, carrying a cumulative dividend of 4J per cent. This is the first important capital issue since that made by the Reserve Bank, and openings for investment are very welcome under present conditions. Another happening of interest was the declaration of a final dividend by Wilson's Cement, making the year's distribution 121 per cent., with a bonus of .1] per cent., compared with 10 per cent, paid last year. It is an indication of the improved economic conditions, as well as a tribute to the remarkable profit-earning capacity of ihe company. When the shares were reduced to 10s from £1 in October, .1933, they were selling at 24s—the price now is more than 355. The market for Government loans remained strongly supported this week, and most of the business was done at slightly higher levels. A greater inclination to buy bank shares was noticeable during the week. There is a growing belief that bank shares at present prices are a sound investment. There is still a f-tronir demand for insurances, even at high prices. A further advance was made by New Zealand Breweries, which sold 8d dearer, at 55s 9d. It is reoorted that there is a strong Christchurch buyer in the market. Outstanding gains were made by Australian industrials—Broken Hill Proprietary, Australian Glass, and Claude Neon (Sydney). Broken Hills were dealt in up to 555. a full rise of 3s 3d. This year the company will celebrate its golden jubilee, it having been founded on August 13, 1885. The realisation that there would not be a higher dividend for Waihis. at least this year, was probably responsible for the slight set-back in the market this week. After a quiet'period Waihi Junctions attracted attention, and levels were taner in anticipation of the year's accounts. ' DUNEDIN [THIS PRESS Special Service. J DUNEDIN, May 10. A moderate volume of business was transacted on the Dunedin Stock Exchange during the last week, and most sound industrial lines were firm. Banks were in good demand at steady rates, and Brewery shares found a ready market at a gradually increasing price. There was slightly more interest in mining than last week. Bank of Australasias are firm at £ll, sales having occurred at that price. New South Wales are steady at £3l, and New Zealands have a firm market at round £2 lis. These shares were sold at £2 lis, and were wanted at £2 10s at the close of the market, with a seller demanding £2 lis 6d. National of Australasias have been dealt in at £l2 13s 6d, and Reserve Banks were turned over at £6 13s. The latter are still wanted at £6 12s 6d. Union Banks have continued firm, business being done at £8 12s 6d. National Insurances have had several transactions at £1 Is Bd, and there is now a buyer at £1 Is sd, with sellers demanding 4d more. New Zenlands are steady at £3 10s, arid South British are wanted at £4 18s 3d, the approximate value one month ago. Up to £3 12s is being offered for Standards, which are available at £3 13s 6d. In the shipping section Union Steams are still wanted at £1 7s. no other line showing any activity. Contributing New Zealand Refrigeratlngs have been eagerly sought, and several sales have been recorded at 9s Id and 9$ 2d. Tiu» roarlftt continues

lirm. South Otago Freezing arc .steady at £6 12s tid, and there is a lirm demand for Waitakis at £3 9s. Associated Newspapers are now bein;; asked for at £1 2s. with no seller responding. British Tobaccos were turned over at £1 19s, and are now on offer nt 3d more. There has been less enquiry for Broken Hill Proprietary shares, which now stand at round £2 14s. Local Stocks Ordinary Bruce Woollens are steady at 13s fid, and preference shares now nave a buyer at £1 Is 6d. The offer for Donaghys is firm at £2 10s. but Dunlops are slightly easier at 16s 9d. Milburn Limes were turned over at £2 4s, the closing offer being 2d less. Drugs are steady at £4, and Farmers' Fertilisers have a buyer at IBs 9d, which is slightly below the value a month ago. Sun Newspapers firmed during the week, and are now wanted at ;is 9d. with no seller forward. New Zealand Breweries were sold at, £2 15s, £2 15s 3d, £2 15s sd, £2 15s 6d, and £2 15s Bd, but there was a slight easing at the close of the market, shares being offered at £2 15s 6d, and the best offer being £2 14s 9d. Staples have a steady enquiry at £1 12s. Mining Mount Morgans have continued firm at round £1 17s 9d, the close of the market finding final quotations 3d on either side of that figure. Mount Lyells were slightly firmer at £l, with a seller asking 5d more. Bendigo Goldlightg are steady at Is, and Big Rivers at 2s 4d. Gillespie's were sold at Is 5d and Is 5Jd, but the best offer is now Is 4d. Kildares had business at 3s 3d, the same figure being offered at the close of the market. Waihis were scad at £.2 2s 9C

Saturday .. 2.241 Closed Monday ,. Closed 3,433 .. 3,801 4,879 Werinneay .. 8.7(13 6.035 Thui :-day .. 8.017 4,748 Friday .. 3,289 5,743 24,111 24,838

c s . cl. a* p.c. Slock., . . J 05 0 0 H P-c, Slock, J9:J8-5:: .. 107 10 0 107 0 0 3i > p.e. Stock, 1930-5,; .. 107 10 0 M > p.c. Stock, 107 10 0 4 p.c. -Stock, 19 40 .. 104 7 (3 « p.c. S:ock, !94'J .. 107 10 0 107 0 0 4 p.c Slot k. . . 107 10 0 4 p.c. Slmck, .. Ill 12 li

100 Com. Bank of Aust. 0 15 10 50 E., S., and A. Bank 4 18 6 100 Bank of N.Z. (cum div.) 2 11 0 25 Dalgety and Co. (cum div.) 8 G 6 102 Westport Coal (cum div.) odd lot 1 1 6 250 N.Z. Breweries 2 15 3 (2) 2 15 0 100 British Tobacco 1 18 8 500 Dunlop Rubber 0 17 0 (3) 0 16 10 500 Maori Gully 0 1 0 7 400 Mount Lyell (3) 1 0 0 19 11 100 Waihi (cum div.) 2 8 Sales- Reported i;> Reserve Bank e 12 9 100 Westport Coal (cum l 1 (i div.) (late sale Thurs.) 100 Manawatu Knitting Mills l 17 250 Sun Newspapers 0 6 5 1000 Golden Point Uate 1 sale Thursday) 0 0 UNLISTED STOCKS Sales on 'Change £ s. d. 300 White's Electric (6d paid; 0 0 75 .. oolworths (Sydney) orci. (2) 4 8 9