STOCKS AND SHARES

Dominion, Volume 28, Issue 210, 3 June 1935, Page 12

STOCKS AND SHARES

Markets Firm and Active HEAVY TRADING LAST {WEEK There was considerable activity last week in the stock and share markets, had the substantial volume of recorded business was above the average of recent Weeks. Trailing was well spread over a wide range of investments, but the bulk of the business was done in Government loans, banks and miscellaneous industrial and trading.issues, the last-mentioned being particularly active. There was a good tone in the markets, and prices were generally firm. Government loans solo at steady fates, more business than usual being done in the 3$ per cent, issues. Prices recorded last week gave a yield to the investor of a shade over 3i per cent, to a little under 3 3-S per cent. A small turnover of local.body debentures was confined mainly to Auckland, issues. A substantial turnover of bank shares saw prices fairly steady, the major portion of the business being in Australian issues. Insurance shares were closely held, trading being confined to Nationals ht 21/- and New Zealands at 71/3 to ,70/9. Pastoral and financial issues, were bather quiet. Dalgetys were done at £8 t>/- and £B/2/6, and Goldsbrough Morts at 29/3. New Zealand Guarantee Corporations showed a hardening tendency, sales ranging from 5/9 up to 5/10. Coalmining and gas shares were quiet but firm. Pukemiros advanced to business at 26/6, Renown Collieries to 9/6. and Taupins to WO. „ , , „ A recovery in New Zealand Breweries was a feature of the week’s business. After touching a low point of 52/-, they tnoved up on Friday, to 54/6 in Christchurch. later sales being made at 54/o. Tooths were firm at 52/- to 52/3. Gear Meats firmed a little, sales being made at El/- to 21/1. New Zealand Refrigerating showed little change, the 20/- paid being slightly easier at the close at 19/9 to 19/10. Kauri Timbers were firm, busihess being done at 19/10 to 20/-, Hud-ilart-Parkers sold firmly at 37/S. A feature of tho miscellaneous industrial trading section was active trading in New Zealand Newspapers and bun Newspapers, following the announcement of the newspaper merger in Christchurch. The former moved up sharply from 3t>/to 39/9, with a few dealings at 40/-. Business in Sun Newswapers. confined tnainly to Christchurch, was heavy, prices advancing from 6/- to 8/10. After touching a . low point of' 15/9, Dunlop-Per-ilriaus showed some recovery, late sales being made’at 16/7 to'l6/8. Wilsons pement firmed to 37/6, and New Zealand Drills to 82/6. Woolworths (N.Z.) ordinaries'were done at £ll, and the preference at 40/6. Woolworths. (Sydney) sold mostly ’round. 90/-, and' .there. was a deal In the West. Australian'issue at ib/iu/-. British Tobaccos and other Australian industrials showed.fib.marked changes. _ Gold mining issues were rather quiet, Maori Gullys, King Solomons and Big Rivers being the most active traders