DUNEDIN

Press, Volume LXXII, Issue 21904, 3 October 1936, Page 12

DUNEDIN

[THE PRESS Special Service.] DUNEDIN, October 2. Although the Stock Exchange was closed all day on Monday for the Dominion Day holiday, turnover for the period ended to-day showed a marked increase over that for the preceding week. The market generally remained quiet, especially in New Zealand issues, although Australian industrial and- mining shares came in for a good deal of attention. Commonwealth issues accounted for more than half the business of the week. Gold mining issues hardened, although the rise was not as great as might have been expected. Bank of New Zealand?, after falling to sellers at £1 18s 9d and buyers at £1 18s 3d, showed definite signs of improvement this afternoon, when a parcel changed hands after the last call at £ 1 18s 9d. A feature of the banking section was a Sale of Commercial Banks of Sydney at £l9 15s, the first sale locally for more than a year. Insurance and shipping issues attracted little interest, a parcel of Standards at the weaker price of £3 Os 6d being the only business recorded. Increased interest was displayed to-day in contributing New Zealand Refrigeratings, which have experienced a rather erratic market in recent weeks. Two sales were re--1 corded at 9s 3d. With the exception of a sale of Wilson’s Cements at the unchanged price of £1 16s 6d, all business recorded in the miscellaneous section was done in Australian issues. Dunlop Rubbers, cum dividend, had business at 18s 7d, but thereafter there was a falling tendency. General Industries returned to favour and changed hands at 19s 9d, sellers being forward later in the week at !9s 4d, ex dividend. Quoted ex rights, G. J. Coles maintained their position on the market, having business at £3 17s. A newcomer to the local market in Mark Poys changed hands at £1 12s. Sydney Wool worths had business at £5 7s 6d, which is several shillings lower than the prices obtained a few weeks ago. Were’s Trust fights were sold at Is. New Zealand Breweries have been quoted at lower rates during the week, a sale being recorded at the weaker price of £2 12s. Dominions remained in good demand at £1 11s 6d, with no response = from sellers. Tooths changed hands at £2 16s, but to-day were ottered at 3d under this figure. Perhaps the outstanding point of interest in the, week’s trading was the sharp rise in the price of Mount Morgans. Last week this issue was sold at 13s 2d, but the price fell a further few pence. At the beginning of the period under review they soared again and reached the high price of 14s lOd on Thursday. To-dav, however, a reaction set in, and business was done at 13s lOd, around which figure closing quotations were firm. An increased volume of business was recorded in the New Zealand mining section. Gillespie’s Beach\retained its sound position with business at Is S}d. Following on the improved returns, Central Shotovers changed hands at 4d, which shows a rise on the price when business was last recorded. Practically all Government loans were In good demand, and business a /as recorded in several 4 per cent, stocks at lata rate*. .. ... ■