STOCKS AND SHARES

Evening Post, Volume CVI, Issue 51, 7 September 1928, Page 12

STOCKS AND SHARES

BUSINESS OF THE WEEK

MORE SPRING IN THE MARKET

••Evening Post," Till September. There lias been mure activity in the stock and sha:..<Hiiarket this week than in the tew weeks that have gone before. Business in Government loans, bank and insurance companies shares, and the issues of financial and stock and station companies has been -well maintained. In other directions, breweries excented, there have been no marked rises in price, nor any turnover to talk about. Buyers of i.ii per cent, income tax tree Government loans are offering • £ 99, and for the 51b per cent, loans they offer £101 to .CIOI 2s Cd tor stocks or bonds. Sales recorded (luring the week were as follow: —414 per cent. Stock (19381, £99 ss; 4Vi per cent. (1939), £09 ss, £99 7s 6d. For s'/= per cent. (1933) prices paid were £101 2s 6;1 and £101 '>■<. Local body debentures were not much in demand, and the solitary sale mentioned was 6 per cent. Auckland Harbour Board' (1941) at £104 ss. There were inquiries, .however, for 5% per cent. Wanganui City at £100, or part, with no sellers. Buyers' prices for other local body securities were: HVz .^>er cent. Auckland Harbour Board, £96, and for the 0 per cent, issue by'the same authority offers of £104 were met with a celling quotation of £105. Buyers called for 5U per cent. Auckland City Loan at £98, with no response. The i\i per cent. Christehurch Tramway Loan 11931) was in demand at £94; no sellers. For 6. Per cent. Waitomo Electrics (1964) £105 10s was offered; sellers silent. In company debentures there were sales of 6M. per cent. Auckland Gas at £102 ss, 6% per cent. New Zealand Farmers' Cooperative debentures (1931) at £90, and active business in the 10 per cent, bonds of New Zealand Breweries at the following prices:—2<£s 3d, 24s 2d, 245, 24s Id, 245, in that order of sale. Christehureh Gas debentures giving oVz per cent, were wanted at £101 ss; sellers undeclared. Glaxo debentures were in demand at £90; sellers quoting £91 10s. BANKS AND INSURANCE. Banks and Insurance business in the bank sharemarket was but moderate, the following sales being recorded:—New South AVales, £50 ss, £50 7s lid, £50 ]o.s; Australasia, £15, and (new paid) £14 17s; Commercial of Australia (new), 29s 9d, 30s Od; National of Australasia (£5), £9 Ss od, £9 Ss, £9 9s. £9 Ss 9d; E.g. and A., £8 l)s:6d, £8 12s; Union, £15 5s Od, £15 sf. - Bank-of New Zealand share* could be bought for 61s -to 6ls 3d yesterday, and Nationals) of New Zealand were quoted by holders at ,£7 4s, buyers keeping their ideas of values to themselves. The £10 shares of the National of Australasia were wanted at £18 19s, with no sellers. Insurance. Company shares were quiet, but very firmly hold so fur as local oflices were concerned. Sales made wore as follow; New Zealand, 445, 43s 9d, 43s lOd; South British, G3s Gd. G3s 3d. 03s 6d; Nationals, 16s 6d. Queensland^ were a little easier than they have been for some time past, and were offered at 63s 9d, but buyers made no reply. A.P.A.'s were to lie had for 9s, but there were no buyers. Offers to take Uniteds at £11 had no response from holders. Standards, ex. div., were wanted at C3s Cd. Financial and stock and station 'companies' investments were quiet, but only the following business was . put on record :—Dalgetys, £15 Is and £15 2s; Goldsbrough, -'Moris, 519 4d, 5.1s sd, ols 4d; National Mortgage, 80s 6d. There were orders for Wright, Stephenson preference at lCs, but no sellers: the ordinary shares in this company were offered at 255, but buyers were silent. Meat shares were quiet. Sellers of Gears wanted 42s to 41s, but buyers' offer was 40s 6d. Canterbury Meats were in demand lit £8 19s, but holders stood out for £9 3s 6d, and for the preference shares in this concern £5 was offered, sellers quoting £5 Is 6d. Sellers of Wellington Meat Exports quoted 13s 6d, without attracting business. Sales of meat shares during the week were confined to New Zealand Refrigerating (10s) at Ss lid to 9s Id.Business in the bank share market was bat moderate, the following sales being recorded: — GAS, SHIPPING, AND COAL. Business was slow in the gas market, Wellington preference were wanted at 17s, BO sellers, and for the ordinaries 29s 3d was offered in vain. Sales of the week were Auckland, 23s 4d, 23s sd; Christchurch, 24s lOd, and for the ton shillings paid 12s Od. Shipping shares .were turned over during the week' at the following prices:— P. and O deferred, £235; Huddart-Parkers at 495, 48s 9d, 4Ss lOd; Northern Steamships at 6s for contributing and 14s Cd for ordinary; Devonport Ferries, 24s 6d; Union Steamship preference were wanted at 20s Cd, holders quoting 21s. Coal business continued slack, but Bales were made of the following:—Westports, 3ds 6d and 30s 7%d; Taupiri, at 27s and 2«3'9d; AVestport-Stocktons, at 3s Bd. Sellers of AVaipa quote 14s, with no buyers. Woollen companies in demand included jtfosgiels at £7 3s, no sellers. The business done during the week was as follows—Wellington Woollen, £6 12s 6d; Kaiapoi (17s), 13s 3d, 13s 2d,. 13s 3d, 13s 4d, 13s sd, (7s) 4s, 4s 4d, . There were no timber sales'. Keen interest was shown in brewery shares, and business done was as follow:—New Zealand Breweries, 475, 47s 9d, 48s Cd, 48s lid, 49s Gd, 49a id; Staples, 39s 3d, 39s Gd; Tooths, 47s od, 495, 475, 4.7s 3d; C. L. Inncs (pref.), 20s. Wards were wanted at 41s 3d, sellers i\* 9d. Swans had buyers at 77s fld, sellers 795._ Investors were not keenly interested in industrial and other shares under the miscellaneous caption, but the following sales wore- recorded: —British Tobacco, 43s Gd, 43s 9d, 43s Gd; Burns, Philp, 45s Cd; Colonial Sugar, £61 12s Gd £63, £63 2s 6d; Electrolytic Zinc (pref., ex. div.), 33s 6d; May ward's Pictures, 20s; Holden's Motors (cum. div.), 20s; New Zealand Paper Mills, lCsf 9d; Sharland (ord.), 20s; Wilson's Cement, 3Ss 9d. Mining was steady, except for Mahakipawas, which "jumped about" during the iveek. Sales were as under: AVailii. 12s 7d, 12s id, 12s 3d, 12s, 12s Id; Mount Lyell, 34s 9d, 355, 34s 9d; Ohinemuri, 7s 9d; Upper Nevis, Cs; Mahakipawa, 2s 2d, 2s Id, 2s Is 10d,- Is Bd, Is 4(1, Is sd, Is 4(1, 5s 3d, Is 2d. Is Id, Is, lid, Is 9d, Is lid, 2s Id. Taranaki Oilfields, 8?.