STOCKS AND SHARES

Dominion, Volume 29, Issue 299, 14 September 1936, Page 12

STOCKS AND SHARES

Dominion Issues Dull

AUSTRALIANS ACTIVE

Business in the stock and mar kets last week was mainly in Australian industrial and trading issues, which were strong and active. By comparison, New Zealand industrials were stagnant on a weak demand. In this connection 1 Kydge s Business Journal” in a recent issue fem™.;” ‘There is little reason to doubt that Aus tralia has become something of a happy hunting ground for the New Zealandln vestor. Since the beginning of the year there has been a steady drain of capital from the Dominion across the Tasman. It probably does not, as has been su o gested, amount to a flight, but the movement has been constant, and it may reach such proportions that a check will oe necessary. In its own interests, Zealand Government cannot well afford to stand by while the drift becomes- a landslide. Private capital must play a large part in promoting Jhe economic recovery of the Dominion. ’ Several Australian issues were actively traded last week on a rising market. Broken Hill Proprietary were greatly in favour and advanced on sales from <4/o to 77/9. a net gain on the week of <5/4.. The New issue, 15/- paid, firmed from 04/6 to 57/6, later business being done, at 56/9. Electrolytic Zinc were also well traded, the ordinaries at 41/- and, ex dividend, up to 41/6; the preference showed little change ex dividend and sold to 43/9. Australian Glass sold at from 92/- to 92/9. G J. Coles were irregular and sparingly dealt in, but the prospects of an early settlement of the dispute. regarding the dictectorate caused a firming on Friday, when business was done at SO/- to el/-. British Tobaccos showed great firmness and moved up on sales from 41/- to 4-/3. Dunlop-Perdriaus were weak and eased on sales from 18/7 to 18/2. Colonial Sugars were firm at £43/2/6. Business was also done in Amalgamated Wireless at firm rates, while Anthony Hordern General Industries, Morts Dock and Hume Pipe showed niinor changes. . , Bank shares were not much, in .favour, and prices generally showed little change.. New Zealands commanded most- ot tne business and sold at slightly firmer rates, but still below the 40/- level. .National of Australasia, £lO paid, sold at £l4/10/ and others at -about late rates. Insurance shares were quiet and little changed, New Zealands touching 63/-. Goldsbrough Morts advanced steadily during the week, sales ranging from 32/9 to 34/-. New Zealand Industrials were very quiet. Westport Coals sold to 23/-. New Zealand Refrigerating. 10/- paid, weakened from 9/3 to 9/-. New Zealand Brew* cries were fairlv active, blit eased from 53/- to 52/3. Woolworths (N.Z.) were easy at £5/2/6. but the Sydney issue improved from £5/8/- to £5/11/-. ■ Mining issues were well traded, Mount Morgans and Mount Lyells being most active. . ' '

Sales recorded on the Wellington Stock Exchange on Saturday were as. follows;

No. of.. .. . shares . £ s. d. *9 10 0 100 —Goldsbrough, Mort .... . *1 14 0 50—Woolworths (N'.Z.) .... *3 1 6 100 —Goldsbrough; Mort ..... 1 14 0 ♦Late-sale Friday.