STOCKS AND SHARES

Evening Post, Volume CVI, Issue 5, 6 July 1928, Page 12

STOCKS AND SHARES

: A.;QUIET WEEK GOVERNMENT LOAN PRICES ■ ■ '• : '/Evening Post,". Ctii July. . Stock and sliarebrokers have had-a quiet •week, for transactions have been of but moderate dimensions in most departments. Interest in bank shares is not nearly so keen as it has been for some - mouths past. The local money remains tight, but/according to a hint dropped i>y the Minister of Finance in the House. of Representatives this week, .some change in the bank interest rate.is pending. At the time of ■writing no return from any bank for the same quarter had been received to afford an indication of the relation between advances and deposits, but there ought to be shown a, substantial excess of the latter over overdrafts. Prices of investments, however, have been well maintained, and in. one or two instances they show a tendency to increase. Government securities were very quiet, and industrials were practically neglected. The recorded sales of Government Loans were as follow :-iVs p.c. Stock (1938), £98 2s Gd, £98 ss;. 4% p.c/ Bonds (1939), £98 2s 6d;- 4V 3 p.c. Stock (1939), £98 ss; 5% p.c. Stock (1941), £99 2s Cd, £98 17s 6d; 5% p.c/Stock, (1936), £100 17s 6d; 5% p.c. Stock (1933), £100 15s; 5%.p.c. Bonds (1933), £100 15s; 5 p.c. P:O. Stock (1929), £98 10s. The-market -wanted-4% p.c. Bonds, (1938) at £98 2s 6d, and for the 5% p.c. Stock of 1936 offers of £100 10s were turned down; and holders of the 5k p.c. Stock (1936) stood out for £100 15s. For local body debentures there was but little inquiry, but buyers quoted £88 for 4 uer cent. Auckland Harbour Board and : £9B for the SYa per cent, issue of this body, sellers not quoting. For 5% p.c. Auckland City (1960) there were buyers at £98,' sellers asking £99 15s. Company debentures were dull, but buyers of' Glaxos:were offering £90, with no Hellers. 5 p.c: Auckland Gas had buyers at £92,-and for the 6% p.c. issue £102 was proffered with no selling price quoted. Wellington Gas Company's debentures were, wanted at £100, no sellers. .The only business recorded was.in New Zealand Breweries at 22s 9d and, 22s lOd. BANKS AND INSURANCE. Bank shares had a fair turnover and buyers were wanting the fully-paid longterm; mortgage issue of the Bank or New Zealand at 265, with no sellers. Bank of Adelaide had buyers at £9 11s, sellers £9 13s. Queensland Nationals were m! request at £9 ss, holders quoting £9 »s; Nationals of New Zealand had seller." at £/ os. The sales effected during the were as follow:-Bank New Zealand, 59s 2d, 59s Id, 59s 3d, 59s Id, 595, 3d; Union, £i 5; New South. Wales, £49 15s £49 l,s fid £49 10s; Australasia, £14 15s M; Commercial of Australia, 29s 7d, 29s Bd, 29s 7d, 29s Bd, and new shares 29s (5s paid) 18s lOd 18s 9d; National of Australasia (£5), £Sl9s 6d £9, and (£10), £18 17s Gd; ill and A. Bank, £8 Us 6d; Australian Bank of. Commerce, 35s 4d; Bank of Adelaide, £9 13s; Commercial of Sydney, hi! company shares hardened-W during the week with a sale of Nationals at lGs. Mercantile Mutual* were wanted at 28s, no sellers quoting, in demand at 63s 6d, no sellers. ™e» done was as follows:-New Zealand, 42s 3d. 42s 6d; South British, 00s; National, 15s lOd, 15s lid,: 16s. . ' ■ "■ . ; STOCK AND STATION. Business, in financial and st°<* ™d lion companies was yery_sow. Buye sot New Zealand and River Plate Land, how :■ ever, were quoting 29s 9d, no sellers. Ne«ton King preference were offered at 13s. The tale! recorded during the week were as follow--New Zealand Loan and MevcanUle (ord'.);.£'lo7; Dalgety, £14,17s Gd, £14 17s, £14 15s, £14 16s; Goldsbrough Mort, 48s 9d; New Zealand Guarantee Corporation (8s ,8s lOd. Gas shares were slow and confined to Aucklands at 23s 3(1 for ordinaries and 17s for preference. Buyers quoted 29s 3d for Wellingtons, selleis not' responding. Coal shares were quiet, but a little business was registered. Sellers of Waipas were quoting 14s <sd, no buyers. The sales made were as follow:— Westport, 30s 4d, 30s 3d; Pukemiro, 67s Gd; Hikurangi, 5s 3d, 5s 2d, 5s 3d; Taupin, 265; Weftport-Stockton (ord.), 3s l%d. The shipping market was inactive. P. and O. deferred holders were prepared to quit at £240 Sales were:—Union Steam (pret.J, 2054% d and Huddart-Parker (ord.) 48s 6d. Meat shares did not figure prominently in the list of sales, but Gears were^ disposed of at 38s 6d. For Wellington Meat Exports sellers quoted 12s 6d. Holders of Canterbury Meat (ord.) were ready for business at £9 4s, no buyers at that figure; but for preference shares in this concern ■■ buyers offered £5, which was 4s under sellers' quotations. Sales: —Gear, 38s 6d; New Zealand Refrigerating (10s), 8s Bd. '. - - The timber market is very flat, the only sale being Leyland O'Briens at 32s 9d. Sellers of Nationals quoted 11s. Woollen shares were also slow. Kaiapoi ordinai'ies were in demand at 9s, holders asking 9s 9d. Sales of Wellingtons were notified" at £6 ss. Among the miscellaneous shares may be quoted buyers of Burns Philp (South Seas) at 30s, no sellers. Henry Jones had sellers quoting 375. Dominion Rubbers were •■ to be had for 31s 9d. Victoria Nyanaza Sugars were quoted 44s buyers, sellers' price,being. 455. New Zealand Paper Mills -were offered at 15s 9d, but with, buyers unresponsive. Donaghy's Rope were wanted at 325, holders standing,out for 395. Whitcombes had buyers at 705., Sales; were recorded as follows:—Miscellaneous: British Tobacco (ex div), 435, 42s 9d, 433 6d; Burns Philp, 44s 3d; Colonial Sugar, £59 17s 6d, £60, £59 17s 6d; D.I.C. (pref.), 21s; Dunlop Rubber, 25s 4d; Electrolytic Zinc (ord.), 31s 3d; Fullers' Pictures, 21s; Turner's Fertiliser, 80s; Hayward's Pictures (ex div), 20s; Holden's; Motors, 32s 4d; Howard Smith 28s 2d;;New Zealand Drug, 68s, 68s 6d, 68s 3d; Sanford Ltd., 20s 3d and (pref.) 20s 9d; Wilson's Cement, 37s 6d, 37s 9d. Some interest was shown in brewery shares, and sales were made for Tooheys. Buyers offered 28s, sellers' price being 28s 9d. Swans were wanted at £3 15s, no sellers. Sales made were:—New Zealand Breweries, 41s, 40s 9d, and 41s: Tooths 43s Bd, 445; and Wards, 41a Bd. In the mining market the keen interest m Mahakipawas showed signs of slackening. Business done was as follows-— Waihi, 11s 8d; Mount Lyell, 32s lOd 33s 6d, 32s 9d, 335; Mahakipawa, 4s, 3s lid 3s Bd, 3s 9d 4 3a 6d; Ohinemuri (pref.), 7s 9d; Upper Nevis, 4s 9d. Buyers of Taranaki Oilfields paid 11s 3d.to lls 4d.