PRODUCE & MARKET REPORTS FROM DAY TO DAY

Evening Post, Volume CVIII, Issue 83, 4 October 1929, Page 12

PRODUCE & MARKET REPORTS FROM DAY TO DAY

STOCKS AND SHARES

OMEND OF MAEKETS

SALES OF THE WEEK

';Eveniug Post," 4th October.

Shareholders throughout the Dominion no doubt have been securing their local Stock Exchange lists with more than usual interest, especially those holding bank shares. The market generally has an easier tendency, which is only to be expected in view of the better rates obtainable for money in Australia than in the Dominion, and the hardening of the London money market consequent on' the raising of the bank rate. Most well-advised investors ■ prefer safety and a relatively moderate dividend to the risks usually inseparable from investments giving higher returns. Therefore competition is keen for the pick of investments quoted day by day on the Dominion Exchanges, and among them will be bank, insurance, and some other companies' shares. During September bank shares on quoted , prices gave returns not less than £4 10s 9d per cent., and not more than £5 8s 9d per cent., and might be taken as returning round about 5 per cent. Of eight insurance companies shares quoted during the month, the average return would be approximately £4 5s 8d per cent. The return from loan and agency and stock and station companies was more in accordance with the business experience b£ such undertakings during the past few difficult years. But the present indications point to a slight, and possibly onlyrtemporary, moderation in the market prices for shares usually regarded as investments.

.Government debentures are still in good demand, all at above.par, excepting the 4% per cents, (free o£ income tax), maturing 1930. For the 4% per cent, stock and bonds maturing 1939, there were unsatisfied buyers at 2s 6d premium. Business done shows the state of the market, and was as follows: 4% per cent. Stock (1930), £99 10s; 4% per cent. Stock (1938), £100 7s 6d; 5% per cent. Stock (1933), £101 2s 6d, £101 10s, £101 ss; 5% per cent. Bonds (1936), £102. Local,body loans wanted were 5% per cent. Napier Borough (1945) at £101; 5% per cent. Auckland Harbour Board (1940 and 1947) at £101, all no declared sellers. Business done during the week was reported as follows: 5% per cent. Grey Electric Power (1965), £100; 5% per cent. Auckland Hospital Board (1935), £100 10s. Company debentures in demand were 6% per cent, fullers' Pictures (1949) at £98, sellers £100; 5 per cent. Auckland Gas (1932) at £90, no sellers. Holders of 6% per cent. Stockton Coal issue quoted £94 10s, buyers silent. Sales effected during the week were as follow:— 1% per cent. Gisborne Sheepfarmers (1930), £98; 6% per cent. New Zealand Farmers' Coop. (1940), £95; 8 per cent. Milne and Choyce, 27s 3d; 10 percent. New Zealand Breweries, 30s 6d, and bonds 30s 6d.

BANKS, INSURANCE, AND FINANCE.

The bank share market was steady, with buyers of Queensland Nationals at £9 9s, sellers £9 12s 6d. Bank of Adelaide shares were to be Lad at £10. The shares sold during the week were those of the following institutions:—Bank' of New Zealand, 625, 61s, 60s 9d; National of New Zealand, £6 15s, £6 14s, 3d, £6 14s, £6 14s 3d; Union, £14 15s, £14 14s, £14 14s 6d, £14 13s; and (Melb. Reg.) £14 16s; New South Wales, £49 12s 6d, £49 15s, and-(Molb. Eeg.) £50 2s 6d, £50; Australasia, £14 11s 6d, £14 10s; National of Australasia (£5), £9 10a; E.S. and A., £S 2s 6d, £8 3s, £S Ss fid; Australian Bank of Commerce, 345, 33s Sd; Commercial of Australia, 30s, 295, 29s 6d, 28s 9d, 295, 28s 7d, 28s Bd, 28s 4d, 28s sd, 28s 6d, 28s 9d, 28s 7d, 28s Bd, 28s 9d, 295, and (pew issue, fully paid) 28s Sd. Insurance shares attracted very little attention* and there were sellers of A.P.A.S at 13s 6d,. Standards at 65s to 665, United at £10 10s, National at 16s 9d to' 16s lOd. South British were wanted afc 64s 9d to 655, sellers quoting 665. There were declared sales of New Zealand Insurance at 47s 6d.

Not much was doing in financial and stock and'station company shares, apart from a brisk turnover in Goldsbrough Morts. There were buyers of New Zealand -Loan, and 'Mercantile ordinary at '^123, holders wanting £128. For the pref«enee issue of this company £82 was offered, no declared sellers. Sales recorded during the week were as follow:—Dalgety, £14 ss, £14 2s Gd; Goldsbrough Mort, 43s 9d, 445, 445, 43s 10d, 43s lid, 43s 9d. 445,'43s lOd, 43s lid, 445, 44s Id 44s 44s 2d;New Zealand Guarantee Corporation (Ss, cum. div.), 9s 9d, 9s lOd, 9s 8cl; Farmers' Auctioneering Co., £4 10s.

COAL, GAS, SHIPPING.

The demand for coal shares was comparatively good. Buyers of the 3s West-port-Stocktons offered 2s lid for I ordinary and 4s to 4s 3d for preference, but sellers did not Waipas were to be T 1!?* for 15s- Grey.VaUeys were wanted «t_26s 6d;- sellers asking 28s 9d to 29s 6d. iiikurangi, ordinaries had buyers at Is S?Ho noti? ed ;(vrere as follow:—Pukemiroi 735,: 73s 4d; Westport,- 34s 6d, 34s 3d, 34s 2d; .Tanpiri : 29s 3d; '20s ■«;' : -Renown .<prer.J, 3s Id .and (new issue)" 2s 9d . . 'Gas shares were' dull; but buyers of Wellington ordinary at 33a 6d failed to elicit a price from holders. Ashburtong were wanted at £5 10s, no sellers. There were sales of Auckland (paid) at 245. 8d and 24s 9d and (contributing) at: 18s 2d; >Christchnreh (paid),.26s 6d and (10s paid) at

No interest was shown in shipping shares but buyers would have taken P T? A?'l£ ¥* t0 Bellcrs wanting Gls' Huddart-Parkers (ordinary) were available at 44s 6d and 44s 9d, buyers not bidding Sales were recorded as follow:—UnionSteam Ship (pref.) 21 S , 21s 3d; Northern jSfrn^..(con-) '.7B' 6s lld > aud (p^d)

MEAT AND OTHER SHARES.

• Meat, 'woollen and timber shares are all very quiet. Canterbury Frozen Meats were -wanted at £8 ss, sellers £8 18s i«w were *? les of New Zealand Eefrigl crated as follows:—Now Zealand Refrigf at»g (10s), 6s Gd, Cs, Cs 2d, Gs 6d, Gs 2d fas, Gs 2d, 6s 3d, 6s Id, 6s 2d and (fitit' 13s 6d. Wellington Woollen ordinfry aud preference were to be bought for £6 17s and Kaiapois (17s paid) at 13s 3d#to 14s' buyers giving no indication of their ideas of value. Kauri Timbers had sellers at ISs to iss 6d, no buyers. There were snles of lgationaj i Timbevs afc Bs. ' _ Brewery shares are quieter, but the ~¥*?f ot^ew Zealand Breweries is strongly heid. Business done was as follows:— J-> ew'/ealand Breweries, 00s, S9s 9d, 80s 6<J; Staples, S3s, 53s fid; Carlton (cum. div.), 455. 9d. •

MISCELLANEOUS.

Business in the miscellaneous division was moderate, the following sales being 'S?^d^ustralian lion and Steel (pref.), 235, 21s. lid; Beath and Co (cum. div)., 32s 6d; British Tobacco, 48s 6d, 48s; Burns Pnilp,-45s 3d, 45s 6d; Dunlop Rubber, 26s 6d; Electrolytic Zinc (ord.), 35s lOd, 35s 6d; Farmers' Trading (Auckland), 9s 2d and (pref.) 35s 4d; New Zealand Drug, 74s 10% d; Sanford, Ltd., 18s 2d; Victoria Nyanza. Sugar, 445; Wairarapa Farmers' Coop, (ord.), 3s; North Auckland Farmers' Co-op., 3s; Wilson's Cement, 43s 9d; 43s 6d: 43s 3d.

MINING.

Mining share sales were as follow:— Waihi, 13s 4d, 13s sd, 13s 4d; Mt. Lyell 445,. 43s Bd, 445, 43s 6d; Kuala Kampa Tin, 12s 6d; Ohinemmi, 9s 3d, 9s 6d; Waihi Grand Junction, Is sd; Kildare, 2s 6d, 3s;' Mahakipawa, 3s; Big Beach, ss; Winding Creek (Cd), Is lOd, and (Is) Is 9%d.- .