STOCK AND SHARES

Evening Post, Volume CVII, Issue 143, 21 June 1929, Page 12

STOCK AND SHARES

BUSINESS-OF THE WEEK

"SAFETY-FIRST" INVESTMENT

"Evening Post," 21st June,

VVifcb. the variety and number of new ..isuijs in the local markets investors should have bo cause to complain of want of opportunities. However, those who have surplus: funds to invest seem-to be using a policy of safety first* Consequently such shares a» those of banks, insurance companies, and certain stock and station financo companies continue in demand, modest as their i-eturn ou their current market prices may be. Government loans and some local body loans are also favoured, and with one or two exceptions it may be skid, that the investor shows a decided preference for gilt-edged securities. There were buyers of the 4% per cent, loans maturing 1941 at £99 10s and for the 5% per, cent. (1936) £101 5s was offered. The sales recorded' up to late calls yesterday were as follow:1—4!£ per cent. Stock, 1939, £99:153, £99 17s 6d; 4% per cent. Stock, 1698, £99 15b, £99 17s 6d, £99 15s, £99 17a 6d; 5% per cent.; Stock, 1941, £99 Ids; 5% per: cent." Stock (1933, £101 ss; JPA per cent." Stock' (1936), £101 ss. Local body loans were not in keen demand; in fact, they generally figured under the heading of "sellers." The 4 per cent.Auckland Harbour Board Loan, 1936, could have been had for. £92 and for 5 per cent; New Plymouth, 1939, sellers quoted *97, but the 6 per cent, loan, 1932, of $us authority was wanted at par, holders not quoting." There were buyers of 6 per cent. Auckland Harbour. Board at £102 10s.' Auckland City loans wanted were 5% per-cent., 1940, at £99, and 5% per cent., 1943, at £101, holders of both not quoting, a price. Sales were made of 5% tier'cent. Auckland Harbour Board, £101 Ms. ' - ■':■•■ Company debentures in demand were 6% per cent. Wellington. Gas,' £101; 8 per *snt. .Wellington Racing Club, £106 10s; 7% per cent. Gisborne Sheepfarmers £96 sellers £98; 5 per cent. Auckland Gas, #95; and 6 per cent Auckland Gas, £103. JCew Zealand Breweries 10 per cent, were Ranted at 24s 6d, sellers 253 6d. Sales toada during the week were 6% pr cent. Glasos, £91; 8 per cent. Milne and Choyce, S6s Bd. . . ■ BANKS, INSURANCE, AND FINANCE. Bank shares, as usual, received a good tjeal of attention, and a fair turnover in them was recorded. National of New Zealand, with a dividend of 12 per cent, declared, had buyers at £7 Is 6d, sellers *7.2s 6d. Sales of bank shares notified *?nng the week were as follow:—Bank of K clr,,/ I?i and (cum div>' 63s 3d, 63s Id, 635. 3d, 635, 63s 3d, 63s Id, and b shares Sfis;' Union Bank, £15 16s, £15 15s (Melbourne Keg.) £15 16s; Bank of New South Wales, £ol £51 7s 6d, £51 10s, and (SydBfy.Beg.), £51-10s; Bank of Australasia, *M 14s, £14 14s 6d, £14 15s; Commercial' Bank of Australia, 30s 2d (new con.) 19s ldi and (pref.) £7 9sv6d; English, Scottish/ and Australian Bank, £8 9s, £8 8s 6d, £& 9s, £8 9s 3d; National Bank of Australasia (£5), £9 lls 9d, £9 11s 6d, £9 Ms6d, and (£10), £19 10s; Australian Bank of Commerce, 36s 9d, 36s 6d. 36* 2*^,36s Bd, 36s 9d, 36s 7d, 36s 7%d, $s 8d; Bank of Adelaide, £10 Is; Commercial Bank of Sydney, £27. Insurance companies' shares, small as is Wir yield on market prices, continue in favour with the careful investor. Standards wer« in demand at 65s 6d, no declaredsellers. . Mercantile Mutuals could have peen bought for 335, buyers mute. Queensunda were quoted by holders at 655, but ifren was no offer from buyers. Sales goring the week were as follow:—New Zealand Insurance, 48s, 47s 6d; South BriS^^o^iF??*6^ £1° 8s! A.PA., 10s Sa, 10s 2d; National; 16s 4d, 16s *3d «fi 1 al¥&^cle there entered for SUJrii/ 1™0 tlus week here's Investment aT?st,-JBelbourne, the 5s shares of which JjeH| sought, at 6s, but holders' ideas of lUie yame^of these shares were not discos*!. Wellington Trust, and Loan had nrafcsfied.buyers at £7. Buyers of Equitable Buildings at £8 10s met;with ao reJttyer Plate shares had buyers at 31s 9d o«ot M g 32s^3d. Buyers, of New fiS'P'S&gfWl and Mercantile ordinary ofjerea.&iao; sellers demanding £130- and tor, the preferences issue of this company BSS ~oW£§ i o ? te Phenson's ordinaries 1?%.-2 nteV a-t 24s 6d» n° seHers. Buyers 2i? ewt l ? nJ Eu« Preference^ failed to atXt^a Bf aelf .attention with' offers of 9s M. Sales during; the week were:—Wright gtephenson (pref.), 18s 6d; Dalgety, £15 Sf M. 3s .3d, £15 2s, £15 3s fidIS Mortgage, 88s 6d,'B9s 3d f New S^r ,G»«antee Corporation, (8s). 9s .;.*■■ coal* shipping, gas. Taupms (ord.) at 25s'6d and (pref ) 23sSko.W^ort^tocktons at & 10d-no Slfsellers would not quote below lls Bd. Sales W«^L^f r^ ord, cd. were M follow:— .Wee^ort, 35s Id: Pukemiro, 655; WestS£s*S '"Slf* 0?* (°i d')> 3s 3d; Grey Valley, 238_4d, 23s 3d; Renown, 14s. The limited investments in shipping enterprises received a fair amount of attention. Buyers sought Union Steam Ship preference at 20s 6d to 20s 9d, holders not P-and O. Deferred had buyers at 57s 6d. No sellers. Huddart Parker .preference were wanted at 20s 3d to 21s Sd.v No declared sellers. The sales were: Huadart Parker (ord.), 45s 3d, 45s 6d, 45s 34; Devonport Ferry, 22s 3d; Northern Steamship, 14s 4d; Howard Smith, 24s 9d, 245. There was practically no demand for gu shares, all, however, being firmly held, ror-Ashburtons £5 8s 6d was offored without attraoting holders' quotations. Owpprne were wanted at lls 3d, sellers J3?-. ,*°r Wellington ordinary 32s was ?«hu*cL by holders. Shares in the ChristCJmrch Company, had buyers of the £1 glares at 27a Id, and of the 10s paid at 13s |a, and for these sellers wanted 13s 7d. pales of gas company 1 shares were: Auckland paid, 24s 4d, 24s sd, 24s 6d, 24s 7d, MEAT, WOOLLENS, BREWERIES. has been slackness in the meat market for sbine time,- and it continued throngliout the week. Canterbury ordinKiee were wanted at £8 15s, and the preference had buyers at £5, sellers wanting fiva;guineaß. The North Canterbury Company's Bhares were quoted by holders at a*V but buyers' valuation was 10s. There Ijei* sales of Gears at 43a, and of New Zealand Eefrigerating (10s) at 7s 6d. Buyers of Kaiapoi Woollens were in the market with offers of 13s 9d to 13s lOd for the 17s paid shares, and 4s 6d to 4s 9d tor the 7s paid.' .Sellers responded by quoting 14s id and 5s respectively. There were.sales of ,Wellington Woollen ordinaries at £7 6s, with buyers of the .preferejice shares m this company, at £7 4s. 'New Zealand Breweries', shares attracted much speculative attention during the g«etr^a «ales were recorded at up to 75s s*. : The/prices have now eased, but are itm.considered by many observers of the Sl^ ket ?^_ beln ß unwarrantably high. .Buyer* of Crown Brewery at 7s 9d received no answer from holders. For Swans sell- *™ w*^? Prepared to take 975, buyers not responding. Tobheys were wanted at 36s 3d, sellers .price being. 375. Sales notified durmsrthe week were as follow :-New ZeaS f Vl H' H s M ' 72s 9d» 73s M,- 745, 755, 79s 3d, 7Ss 6d, 75s 3d, 75s 2d, 755, 745, 74s 7d { .49s 9d; Carlton, 47s 4d, 47s 6d; trm~ . IS*?''*oß] Ward and Co., 33s 6d; Timaru- ■ TIMBER AND OTHER SHARES. mV** t^her market continues very dull. JWlem oT Kauris failed to .make sales'at SOS, and there^were no buyers of Leyland OJBriens at 33g. Nationals were wanted •t 6s, sellers Bb. ;■ ( "-. .■-.-. ■ In *he migcellaneous section there were buyer. 0 £ AustralUn Distilleries at 21a 6d, , sellers 225. Colonial Sugar Refineries had buyers at £67 15s, sellers quoting £58 5* to £88 7s fld. Burns, Philps had buy?SiS *fe" Belle^ 45s- Holders of Electrofytto Zino ordinary wanted Sss lid to 365, and preference. 38. 6d, buyers offering ols-lld and 36s 5d wspectlyely. Sales gf I

the week were as follow:—Australian Iron and Steel (pref.), 21s 6d, .21s 8d; Beath and Co. (Is), 8s 6d,.8s 7d; British Tobacco (cum. div.), 49s 4d, 49s 2d, 49s Id, 495, 49s 3d, 49s'2rt, 49a 3d; Ddnlop Rubber, 27s Id; Henry Jones Co-op, 34s 2d; Kegent Theatre Dunedin, 24a 3d; Sanford, Ltd., 18s 6d, 18s; Victoria Nyinza Sugar, 46s 4d, 45s 4Hd, 465, 46s 6d, '46s 9d; Whittome Stevenson, 475, 47s 6d; Wilson's Cement, 425, 41s 9d, 425; Milburn Lime, 395. , Business in mining was of slender dimensions, the following being the pub-; liahed sales:—Waihi, lls lOd, lls 8d; Waihi Grand Junction, 9d; Mount Lyell (cum. div.), 41s, 6d, 41s 9d, 425, 42s 3d, 42s 4d; Mahakipawa, Bd, 7%d Bd, B%d, fld, 9%d; Big Beach, ss; Okarito lOd prem.: Kildare, 3s lid, 4s; Winding Creek (6d), la 3%d, Is 4d, is 6d. Xaranaki 03, fa 3d.. .