PRODUCE & MARKET REPORTS FROM DAY TO DAY

Evening Post, Volume CVII, Issue 55, 8 March 1929, Page 12

PRODUCE & MARKET REPORTS FROM DAY TO DAY

STOCKS AND SHARES

RECORD OF WESK

STEADY BUSINESS

'■Evening Post," Sth March

Thevo was"fairly'brisk business on the Stock Exchange during the past week, and a number of parcels changed hands. Government stock was again in popular demand, and there was also considerable inquiry for local body and other debentures. As usual bank shares showed activity, and several sales took place. Oil, which has been much, to the forefront recently, was

quiet. Business in Government stocks has been ' fairly active during the week, and there ; hag been a steady demand for all issues. ! ■Polders, however, have shown no great inclination to unload at prices lo meet buyers, and only four sales were recorded. These were: New Zealand Government 0% .per cents., maturing in 1033, £101 10s;. New Zealand Government 4'/ ? per cent, inscribed stock, maturing m 1030, £99 17s Cd £100; and War Loan, 4V6 per cents., maturing in 1938, at par. There have been Buyers of 5'A per cents. (1930) at ±101 0s and £101 7s Cd, but holders were not prepared to meet the market at either figure. Five and a-quarter per cents. (1941) .were in demand at £99 5s and five and a-hal per cents. (1930) at £101 7s Oil and £101 ■srf, but holders were not quoting. Holders of iVs per cent, bonds (1030) were prepared to sell at £99 10s, but no business was offering. I'ureels of 5'A per cent, inscribed stock, maturing in 1933, were ottered at £101 12s Cd, but quotations by buyers were 10s below that figure. Yesterday there was a keen demand for all issues ot bonds and inscribed stock, but the only olfeV by holders was one ot £9'J 7s uci for ,Wk per cent, bonds'(l93o). There wore jio buyers at this figure. ' . * There was a fair amount of business 'done in local body debentures, which are regarded favourably by investors in nonspeculative stock. The following sales took place during the week: New Brighton Borough 5% per cent. (1958), £101 10s (three parcels); Christchureh Drainage,, 5% per cent. • (108S-73). £101 16s; Kowiu County 5% per cent. (1932), £101; AucklanH Harbour Board 5% per cent., £101. Waitomo Power Board 5% per cents., maturing in 1964 were wanted at £99 10s, but that ■i6"iire did not satisfy holders, who reframed from quoting. There was a steady demand for Wellington Racing' Club debentures at £106 10s. Holders, however, did not quote. Wellington Gas Company debentures were wanted at £100 and .£101) 5s but the offers did not prove sufficiently attractive to holders. No selling quotations were registered during the week. New Zealand Breweries (bonds) were in demand at £1 Os 3d and £1 6s>, but holders /were asking £1 7s and,£l Os 9d. : BANKS, INSURANCE, FINANCE. Business in banking shares was again jvcry brisk, even more brisk than was the case last week, and there was a steady demand throughout the, week for all classes. Sales which took place during the week were the following: Commercial Bank of Australia, 29s (several parcels); Australian Bank of Commerce, 30s, 36ss 3d, 30s Od, 30s 9d, 30s lOd, and 37s 3d; National Bank of Australasia (£5 paid), £9 32s Ud; Bank of New Zealand, 03s 3d. Shares in the National Bank of New Zea-> land were asked for at £7 3s Cd, but< holders did not quote. For New South "Wales stock there was an offer of £50 15s (ex div.), £50" 12s Gd, and £50 17s Od, but holders wanted £51 2s Ud (ex div.). Bank of New Zealand Long Term Mortgages were wanted at £1 8s 6d, but there were mo offers to sell at this figure. Union of Australia were sought after at £15 7s Cd, but holders were asking 2s above that figure. ':.' There was some business, in insurance company shares, and the week's sales included the following: National Insurance, 10s 3d; New Zealand Insurance, 46s 9d; Mercantile Mutual Insurance, 335. There was a demand for South British shares ■at j£3 4s 9d and £3 ss, but at neither figure were there any sellers. Otherwise, there was little business on the exchange so far as insurance companies were concerned. ■ Financial and stock and station company shares remained firm throughout the week. The only, sales recorded were of Goldsbrongh Mort. at 52s 3d and 52s 4d, and of Dalgety and Company at £15 12s. Loan and Mercantile ordinary shares were inquired for at £126, £126 10s, £127, and £127 10s, but holders were asking £130 and £ 132. There were sellers of New Zealand Guarantee Corporation (ord.) at 9s Gd and 9s 7d, but buyers were not prepared to pay more than 9s, 9s Id, 9s 2d, nnd 9s 3d. There were inquiries for Wellington Investment T. and A. at 10s 9d, no seTTcrs. Wellington Deposit and-Mort-gage were inquired for at 10s 3d, but holders were asking 10s 6d. , There were no tellers of Equitable Building Company shares at £8 7s Od. GAS, COAL, AND SHIPPING. Sales .of-'gas company.shares took place during the week as follow:—Auckland Gas, 2'is 9d; Christchurch Gas, 26s 4d, 26s sd. Wellington (ord.)-were soughtafter at £1 11s and £1 11s 3d, no. sellers. Gisborne shares were quoted by buyers at 10s and 9s 9d, but holders were not attracted. There was little activity in coal during the week. There were sellers of Westp'ort at £1 13s and £1 12s 9d, but buyers were not offering more than ! £1 12s. and £1 12s 3d. -.'. ;. .'■ No sales took place during the week in shipping company shares. Huddart Parleer (ord.) were on offer at £2 7s and £2 Cs 9d, but there were no buyers at either figure. Union Steam (pref.) were asked for at £1 0s fid, but there were no sellers. The only other quotation in the transport section was Kelburn Tramway (ord. and pref.), which: were asked for at £1 5s 3d, no sellers. MEAT, WOOLLEN, AND OTHERS. The only sale in the meat preserving section this week was New Zealand Refrigerating, several parcels of which changed Lands at 7s Sd.' Gear Co. shares were inquired for at £2 3s Od, but holders wanted £2 4s 3d. Wellington Meat Export (ord.) were quoted by buyers at 12s, but sellers Were not prepared to unload. ■ There was some demand for woollen company shares, but no sales took place. Buyers quoted as follow.—Kaiapoi (ord.), 14s; Mosgiel, £7 10s; Wellington (ord.) £7 4s (sellers £7 7s); Wellington (pref.), £7 5n (sellers £7 10s). ■ Sales of New Zealand Breweries took place at 57s lid and 58s (three parcels) and there was a sale of Staples Breweries at 445. Mining' nhares were disposed of as follow:—Waihi, 13s; Pukemiro Collieries, 67s 6cl; Hikurangi (pref.), 5s 6d; and Mount i&MVjMd? WM * "".Tar.--'ln the miscellaneous group there were sales as follow:—New Zealand Paper Mills I 8 3d;... -Electrolytic Zinc (def. ord.), 35s tfd; British Tobacco, 48s 8d; Wilson's Cement, 40s; New Zealand Farmers' Fertiliser, 20s 9d; Dunlop Rubber, 28s 3d.