STOCKS AND SHARES

Evening Post, Volume CVII, Issue 149, 28 June 1929, Page 12

STOCKS AND SHARES

: THE WEEK'S BUSINESS

SALES REVIEWED

"Evening Post," 28th June, r Business in stocks and shares during ■ the past week has been fairly brisk, al- '* though investors are still showing a deeid- ' .«d inclination to place their money where :; • safe rather than a spectacular return is ;• assured. Bank shares, insurance company ;' shares, and / other gilt-edged securities ; have been steadily inquired for. Govern- <■' ment loans have been in good demand * throughout the week, but, generally speak- ~ ing, holders of this stock have not been - eager to unload at the prices offered. Par- £ eels of New Zealand Government 4% per j; cent, inscribed (1939) changed hands at £. £99 17s 6d, and there were also sales of J. 1933 stock and 5% per cent, inscribed - (1936) at £100 and £101 2s respectively. " For 5% per cent, bonds (1933) there were goffers of £101.55, but holders were not >- prepared to accept that figure. !; There was no great demand for local ; body debentures, sales taking place of v Christchurch Drainage 5% per cent. t (1973) at £103, Auckland' hospital 5% 1 per cent. (1935) at £100 10s, and Auckland » Harbour Board 5% per cent. (1947) at £101 2 10s. Other loans figured under the "sellk ers" heading. Auckland Power Board ?.5J4 per cent. (1945) were to be secured

'' at £101, Auckland Power Board 4 per •■ cent. (1936) at £92, and New Plymouth „'Harbour Board 5 per cent. (1939) at £97. J. For company debentures there was a »■ Keen demand, but there was no inelinaZ tion on the part of holders to meet the - market, -and the only sales of the week » were those of New. Zealand Breweries : bonds at 265, 26s 6d, 26s lOd, and 275. • Debentures in. keen demand were Welling- ;, ton Gas Co. at £100 and £100 10s, Wel- ; hngton Racing Club at £106 10s. ': , BANKS,i INSURANCE, FINANCE. The activity usually associated,with bank :.. shares was again in evidence, and there ; -was a good turnover. . Sales notified dur- ■ ing the week W ere the following: Coininer- ,, cial Bank, of Sydney, £27; Commercial •I Bank of Australia, 30s Id, 30s 3d (several - parcels); English, Scottish, and Australian : Bank, £8 9s, £8 9s 3d, £8 9s 9d; Bank of - New South Wales, £51 7s 6d, £51 10s: ...Bank of New Zealand, 61s 9d (two par- £ eels), 625; Union Bank of Australia, £15 -- 13s; Australian Bank of Commerce, 36s ; Yd; National Bank of New Zealand, £7 2s ~ 6d. There were sellers of Bank of Australasia at £14 16s 6d and £14 17s, buy- ; ers offering £14 13s 6d and £14 14s. Some - 4 holders of National Bank of Australia -■• were prepared to unload at £9 13s, buy-' I. ers offering from £9 10s to £9 11s 6d. -For insurance shares there was a fair , demand, although possibly not as brisk -.as .last week. At the sametime there was ample evidence that insurance stock' is „ still popular with those investors content with a modest return. Sales recorded dur."mg the week were: New Zealand Insurance, 48s 3d; National Insurance, 16s 3d • (two parcels);. South British Insurante, ; 67s 6d. Other companies were not quoted by buyers or sellers. Shares of "financial concerns were in some demand during the week. Sales took place as follow: New Zealand Guarantee ; Corporation, Gs 9d; Goldsbrough Mort, 47s - 6d, 50s 3d; New Zealand Investment, Mortgage, and Deposit, 10s; National Mortgage, 89s; Abraham and Williams • (ord.) were to be had at £4 15s, but there , was no quotation by buyers. There were ■buyers of Abraham and Williams (pref.) at; £4 10s,' but holders did not place a price on their stock. There was inquiry for Equitable Building Company at £8 10s, but again holders held off. Other shares in demand were Wellington Trust and Loan, £7; Wellington Deposit and Mortgage, 10s 9d aija 10s 6d; and New Zealand and River Plate, £1 lls 3d.- Dalgety and Cp, were to be secured at £15 3s, but buyers' refrained from making an offer. COAL, SHIPPING, GAS. There was little business doing in coal shares. Westports were to be had at £1 14s 6d, buyers offering £1 12s 9d arid £1 13s. There were buyers of WestportStoekton (ord.) at 3s Id, and of WestportStockton) (pref.) at 4s, but sellers were silentfe:, There was a sale of Westport at 33s &L> „ . .•:.-: :,- Sales ntook place during the, week of TJnioif/ Steamship Company, shares at 20s M and"::2os lOd. Huddart-Parker (pref.) were sought after at £1 Is 3d, but holders ■ remained silent. There was ■ inquiry for Northern Steam at 14s, but there were no sellers. ■ . Gas company shares were keenly sought during the week, but holders showed no great ■ inclination to make a clearance. There was a sale of Auckland Gas at 24s 6d. Christchurch Gas was sought after at £1 6s lid, and at £1 7s, but holders were not prepared to sell at under £1 7s 9d; There were buyers of Wellington Gas (ord;). and pref.) at £1 12s and 16s 3d respectively, but there were no sellers. MEAT, WOOLLEN, BREWERIES, Sales of meat shares took place as follows—New Zealand Refrigerating (10s), 7s 6d: Wellington Meat Export (ord:)", 12s 6d.- Gear Company shares were in demand at ,£2 2s 9d, but sellers were asking £2 3s 3d. New Zealand Refrigerating (£l)'were sought after at 16s 3d and 16s, no sellers. There, were buyers of Canterbury Frozen Meat (ord.) at £8 15s, but holders were not on the market. Sales took place during the week of Kaiapoi Woollen at 13s lid and of Wellington Woollen (ord.) at £7 ss. Wellington Woollen (pref.) were asked for at £7 6s, but holders were not on the market, jlosgiel was sought at £7 lls, but again there were no sellers. There was brisk business in New Zealand Breweries shares during the week, and parcels changed hands at 74s 6d, 74s 9d, and 755. Staples Breweries were disposed of at 50s, 50s 3d, and 51s sd, and a parcel of Tooth's Breweries went at 595. o? cwn shares were under offer at 7s 9d, bat there was no response from holders Ward and Co. were to be had at £1 13s 6d was:fi if 3 ' ioa tthe biggesfc bid by buyers TIMBER AND OTHERS. . The market remained exceptionally quiet *o tar as timber stocks were concerned and .no^sales took place. , Kauris were offered -at £1, but there were no buyers on the market. Leyland O'Briens were to be had at £1 12s Bd, and Nationals at 9s. in the miscellaneous section sales took place as follow:-Henry Jones Co-op., 34s 2d; Farmers' Fertiliser,. 21s 6d; Kemptnorne Prbsser, 765; Electrolytic Zinc <Pre« |8s 6d; British Tobacco (lust)! ff-f'J^e Petrol, 16s; East African <? J?'c^ s- Colonial Sugars were on offer Bofufefs. £58 7S 6d ' but there ™" Mining shares were disposed of as fol-