DUNEDIN

Press, Volume LXXIII, Issue 22183, 28 August 1937, Page 12

DUNEDIN

[THE PRESS Special Service.] DUNEDIN, August 27. Brighter trading characterised the Stock Exchange for the period ended to-day, and buying interest throughout the week was distributed over a wide I range. Sales put through for the week were greater in number than for the previous period, the increased turnover being largely accounted for by the attention given to industrials. Australian, mining, which figured more prot minently in the week's trading than was the case of the previous period, fluctuated a little and finished on a weaker note. Broken Hill Souths, Electrolytic Zincs, Mount Lyells, and Mount Morgans all had dealings at sliding prices. I.n the banking section scant attention was given to Australian issues. Commercials alone being dealt in at 17s lid. Bank of New Zealand were in demand again, buyers' offers being increased to £2 4s 7d, but sellers were firm at £2 5s to-day. However, a sale was effected at £2 ss. Insurances had a better inquiry and Nationals had business at the improved price of 18s 3d. Standard Insurances however were disposed of at the easier price of £2 18s. Huddart-Parker shares reacted to the dividend announcement and both issues firmed appreciably, the ordinaries changing hands at £2 3s. Australian industrials generally falied to hold the values realised in the active trading during the early part of the week, and Broken Hill Proprietaries particularly were easier at the close of the market. Some good business was recorded in Dominion Fertilisers, New Zealand Drugs, New Zealand Farmers' Fertilisers, and Wilson's Cement shares, these stocks comprising (he bulk of the trading among Dominion industrials. A keen demand set in for chain store enterprises in the unlisted section, and business was recorded in Woolworths (Sydney) at prices slightly below those obtained last week. Woolworths (South Africa) were given some attention, and a parcel changed hands v at 16s 9d. Cox Bros, were also dealt in. The recent trend in Government loans was well maintained, and buyers were forward at every call for practically every issue. Two parcels of 4 per cent, stock expiring 1943-46 changed hands at £lO3 and £lO3 2s 6d, but with these exceptions holders very seldom entered the market. Buyers of the 3J per cent, stock, 1938-52, advanced their previous offers by £1 this afternoon, but a seller at £lO4 remained firm.

Although by no means active, the New Zealand mining section was given more attention than has been the case for some weeks. After the record return of 380 ounces, Clutha Rivers moved up to buyers at 3s 4d, sellers being 8d away. The first listed sales of these shares on the New Zealand Stock Exchange were effected on Thursday, when two parcels for London delivery were disposed of at 3s 6d. Grey Rivers were dealt in at 6s 9d, and Nokomais changed hands at 2s 3d.