MOCKS AND SHARES

Evening Post, Volume CVII, Issue 67, 22 March 1929, Page 14

MOCKS AND SHARES

MMESS GOOD

SfSKT-E OF THE MARKETS

'•Evening- Post," 22nd March. St. Patrick's Day being observed on Monday and the banks being loyal to the memory of the Saint remained closed on that day, and the Stock Exchanges were likewise shut,.but business was generally good over the week. I'or the ihii per cent. "War Loan, stock and bonds (1939), there were buyers at £99 15s, but holders' ideas of values are round about par. The 5Vz per cent. Discharged Soldiers Settlement Stock (1936) was wanted at £101 12s Od, with no sellers at that figure. Sales were ■ as-fbllow:-^4% per cent. War Loan Stock (1935), £100; 5% per cent. .Discharged Soldiers. Settlement Loan (1923), £101 ss, £101 7s :6d. .

Local body debentures had a fair turnover; and as will be seen hereunder, a number of sales figured in lists. Buyers' prices''for; investments of this description included the following:—6 per cent. Auckland Harbour Boards, £103; 5Vt, per cent. Auckland. Ci£y (1940), £98 15s. Sales recorded were: 5% per cent. Napier Boro (1945), £103; 5% per cent. New Brighton Boro (1058), £102; 5 p.c. New Plymouth Harbour'(l 939), £95 10s; 5% p.c. One Tree Hill Road Board (1963), £103; s',i p.c. Auckland City (1940), £99 ss.' Compauy debentures were not conspicuous in the sales of the week, but buyers were in'the market with £100.10s for 8 per cent. AVellington Racing Club; £91 for fP/£ per cent. Glaxos, sellers £08; for 5 per cent, and 6% per cent. Auckland Gas at £94 and £103 respectively, and for 8 per cent. Westport-Stoekton (1035)' at £85. There is quite a fair number of new' mortgage debenture issues in the market at from S'A per cent, to IVz per cent., Sales of the week were as follow:— 10 .per cent. New Zealand Breweries, 20s 4d, .26s 3d, 26s 4d; S per cent. Milne and Ohoyce, 2Cs 9d.

BANKS AND INSURANCE. Bank shares continue to rule in high favour with investors, and a rumoured — and denied—purchase of the Australian Barik< of Commerce' by one of the "Big Vive" resulted in considerable attention being paid to the shares in the A.B.C. during last week. This slackened off, however, but sales, were made at a slight adyance on prices quoted by sellers early last Week. Long Term Mortgage, or 1) shares, of the Bank of New -Zealand, which for a long time were worth 2Ss in buyers' opinion, are wanted at 295, sellers not quoting. Queensland National Banks had buyer* at £9 13s, holders quoting £9 17s. The preference 'shares of the Commercial Bank of Australia had buyers at £-7:7s'6d:to £7 8s 6d, holders wanting £7 12s. Sales made during the week were as follow:—Bank of New Zealand, 62s 6d; Bank New South Wales, £50 16s fid; Bank of Australasia, £15 15s; Australian Bank of Commerce, 37s 3d; Bank of Adelaide, £10 ss; National of Australasia (£5), £9 14s, £9 14s 6d, £9 14s; Commercial of Australia, 20s 6d, 29s 4d, 29s 6d, 29s Sd, 29s lOd, 29s Ud; Union Bank,' £15 10s; E.S. and A. Bank, £8 1G?, £8 17s, £8 16s 6d, £8 17s.

Insurance companies continue in popularity with the non-speculative investor. Vor South British Bus 6d and 65s 9d was offered, sellers quoting 67s 6d. The company's half-year closed 28th February. Mercantile Mutuals were in request at 32s 3d, sellers not quoting. Standard had sellers at 65s 6d, but buyers hovered about <8s to 04s. A.P.A. ]iad buyers in Wellington at 8s 7d, but they were sold early in the week in Auckland at 7s lOd. Sales recorded were as follow:—New Zealand Insurance, 475; A.P.A., 7s ]0d; National, 16s 6d, 16s 9d, 16s Bd, 16s 9d; Mercantile Mutual, 32s 9d; Queensland, 6Ss 3d, 6Ss 9d.- ■'■

Financial and Stock and Station Companies attracted some attention. Dalgety's had buyers at £15 12s with sellers £15 13s 6d and £15 14s. New Zealand and River Plates were wanted at 335, holders standing for 34a. Buyers of New Zealand Loan and Mercantile preference failed to do business on offers of £80. Abraham' ojld Williams preference were wanted at 87s 6d with no sellers. Sales reported were as follow:—Goldsbroiigh Mort.. 52s fid, 52s WM, 52s 9d; New Zealand Loan aiijd Mercantile (ord.), 1295; New Zealand Guarantee Corporation (8s), 9s ,4d.

COAL, GAS, AND SHIPPING. Interest in coal mines is variable. This week a fair amount of business was passed. Hikurangi, notwithstanding recent flood water difficulties, had buyers at 2s for the ordinaries, ,no sellers, and for the preference shares -7s Gd was offered, holders quoting 8s Gd.-. Westport-Stocktons were wanted at 2s 3d, sellers quoting 2s KM; AVaipa holders were prepared to close at 12s 6d. Sales recorded were as follow:— Westport Coal, 32s 9d; Pukemiro, 68s; Renown (preference), 2s lid; Taupiri, 275; Grey Valley, 21s 4d, 21s 6d. Gas shares were not in great demand. I"or Australian Gaslight there were buyers ai £7 5s 6d, holders standing out for £7 Jw. Napier £10 shares were wanted at £10. Gisborne buyers offered 10s Cd, sellers quoting 14s. Sales were as follow: — Wellington ordinary, 31s 4 3/4 d; Auckland ordinary, 24s 3d. Shipping shares were far from brisk. There were -sellers of 6 per cent. cum. preference New Zealand Shipping at £10, no buyers. P. and 0. Doferreds were wanted at 60s, holders quoting 645. Sales of the week were as follow: —Union Steamship (pref.), 20s 8d; Huddart Parker (ex. div.), 4as; Northern Steamship (con.), 7s 2d. BREWERIES, MEAT, AND OTHER SHARES. A- considerable rise has taken place in the .shares. ■• of New Zealand Breweries, opening with business at 58s and sales being made up to 61s Gd. Swans were wanted at £5 2s fld with no sellers. For Timarus 14s was offered and llis demanded, and the 5s paid shares in this company had buyers at 14s, sellers 16s. Tqoheys could be bought at 38s, but buyers .did not quote. Wards, in liquidation, \y'e.i'd wanted at 325, holders' value being 3is Cd. Sales made were as follow: — New Zealand Breweries, 58s, 58s 2d, 58s 6d p,"595,;-58s sd, 58s 6d, 595, 60s 9d, 61s, (Us- 6d; Tooths, 61s 6d; Staples, 43s 3d, 44s 3d.

Woollen shares were quiet; buyers of Mosgiels offered £7 7s 6d, sellers wanting £7 12s 6d; there were also buyers of ICaiapois, who were quoting 14s ,2d for the 17s paid, sellers 14s 7d; for the preference shares in this company 15s 9d. was offered, .sellers quoting 17s. There was a gale of .Wellington Woollen preference at £7 Cs. ■

]Vleat company shares were very quiet. Holders of Gear would accept 445, no buyers. Sellers of Canterbury frozen meats quoted £9 7s (id for ordinaries, buyers silent;*- but the preference shares in this company'were to be had for £5 35,. buyers' values, being 995. North Cantertiuttf frozen moats were wanted at 20s, jspllbrs quoting 27s 6d. Sales were: New Zealand Refrigerating (10s), 7s 4d, and C£l-), 16s, 16s Cd; South Otago Freezing Co., 90s; Timbers were quiet. Holders of Kauris quoted 17s and 17s 3d, but buyers' price ■*&*« 16s 3d.. Nationals were to be had ■for 10s. For Bartholomews < 18s was offered, no sellers. Leyland-O'Briens were £b be bought for 355. In the miscellaneous division a fair amount of business was done. The amalgamation of the chemical business of T. .and'W. Young with' Shnrlands was not wrvidry- reflected in the shares of the latt^B-, company, which were wanted at 20s 9a, although they changed bauds during IBebruary. at from 10s 6d to 20s 6d, with 20». tkTfor the preference. Buyers' prices $! some of the miscellaneous shares have been as follow: Australian distilleries, 24s 3d; Australian Iron and Steel preference, 20s lOd; Colonial Sugar, £59 10s (sellers £60 ss); New Zealand Paper Mills, IBs, Kellers 19s; New Zealand, Sugar of Milk, 2Js Cd; "Herald" and "Weekly Times," £5 Is (sellers £f> 4s 6d); Gasco Bricks, 27s 6d; Queen's Theatre, 235; Victoria JSfyanza Sugar, 435. Sales recorded were as follow:—

. I\eath and Co. (Is), Ks «d, 8s %l. and ordinary ("ciim. divs), 33s 3d; .British To-.