STOCKS AND SHARES

Evening Post, Volume CVIII, Issue 119, 15 November 1929, Page 14

STOCKS AND SHARES

' MARKET HAS LOW TONE SALES OF THE WEEK • "Evening Post," 15th November. Carnival Week in Christchurch and the generally low tone ot' the- local investment market will account for the moderate turnover of the past week. Bank 'shares even at'their recently-reduced quotations, are still considered too dear, taking into account" their yield to investors at current. market rates. In ether divisions of the sharemarket there is a noticeable want of interest., and in industries there is practically nothing doing. It is not unlikely that from now on to after the holidays; business generally will be from moderated slack. The gilt-edged security market, however, is fairly active, and everything appears to be firmly held. For 454 per cent. Government stock and bonds £100 was offered, and holders were prepared to do business at 2s Gd to 5s premium. From £99 10s to £100 was offered for. the 4% per cent., maturing 1941, £100 being sellers' price. The 5Vz per cent. (1936) were in demand at £100 12s 6d to: £100 15s, and are easier in price on the week. Sellers: wanted £.101. Sales notihe<l,were as ;fol>ow:-4& per cent. Stock (1955), £100:2s 6d; 4% per cent. Bonds .SKIS; 11* ™ *".<«*- Bonds , ' j Local body debentures were in the market, but business in them was very slow Those wanted were 5% and 5% per cent. i^'?i? d Harb ?ur Boards at £99 and £100 10s respectively, holders not quoting. tor the two issues at 5% per cent. Auck- ; land City there were buyers at £99, sellers £101.

a Company debentures wanted included BH.vper. ceutL Glaxos-at £91 Ss, no dodared sellers The 7% per cent, issue ( ><S,° me ? hee P£armers were to ;be had for £99, no buyers. For 8 per cent.' Wel- - 3 iD 1 & On Eac »B Club £106 15s and later £167>wa 8 offeied no sellers. Holders of y?nf in v W'Uwmson's Films . quoted ~ & no r buyers- Sales were:-6% per ?«Vh ■ ?« Zealand Refrigerating (1935) £?I,10s; 10 per cent. New Zealand Brew StoV^- 3*' 28S U > ?*s~ 3d; and Bondl,

&ANKS, INSURANCE, FINANCE Pl« 7? kn* Sydney register), £48 10s Insurance shares were quiet hut fi™ : 6«5.IS;«."ffi teSj-l*B ■tZ Sa t c eek Were M follow:-New ■: if AlEntt .Britiih ; «Wr' t* ie t .sta^ ■ Wellington. Trust and Loan £7 w ii- * !"£ s • offered; >»o sellers. Wellington Deposit and Mortgage were I 'so >f demand at 10s, and were firmly held, there being no declared sellers Buyerf of National Mortgage offered 82s 6d; sellers 85s 6d. Dominion Investment holders quoted 21s; no buyers. Dalgetys (cum ■' div.) were wanted at £14 to £14 7gi sellers^ £14 15s. Sales of the week were as follow:—Goldsbrough Mort 43 6d ■ s-M' 435-6 d (cum rights), 43s 6H, 43s 9d, 43s 8d; New Zealand and Kiver ■ Plate, 30s; New Zealand Farmers' Auctioneering (A preference), 18s Gd; Newton King (preference), 11s 6d; New Zealand Guarantee Corporation (8s), 8s Gd. COAL, GAS, SHIPPING. The coal-mining market was exceptionally quiet, but there were buyers of Pukemiros at 65s to 70s 6d; no sellers. Hikurangis were wanted at Is 6d; sellers not quoting. Westport-Stockton -(preference) had-buyers "at 2s' 6d, and the -ordinaries were quoted at 3s 3d; no sellers. Sales w«j:e as follow:—Grey Valley 26s 9d, Tau--piri 30s, Westport 34s 3d, Renown (pref.) 3s 4d. Gas company shares were quiet, Timarus had. buyers at 24s 9d; no sellers. Wellington' (pref.) were in demand at 18s, and holders .^bf the ordinaries quoted 34s 3d. Sales of gas company shares were as follow:—Auckland, 25s 3d, 255, and (contributting), 18s; Thames Gas, 7s. Peclared business in shipping was nil. TKere were sellers o£ P. and O. deferred at 57s 3d (cum div.), and Union Steams preference; could have been bought for 21s 6d. Huddart-Parker holders quoted 43s 3d for ordinary shares. ' TIMBERS, WOOL, AND OTHERS. Timber'shares were very quiet. Nationals had"buyers at Bs, sellers 10s. Kauris were wanted, at 16s; sellers 17s 6d. Bartholonew buyers offered 20s 6d; no sellers. There were sales of Leyland O'Briens vat 31s 6d. Woollen investments were dormant. Sell- ; era. of Wellington ordinary quoted £6 12s ' Sd' and £6 lls; buyers not bidding. i Jiosgiels had buyers (cum div.) at £7 15s; no sellers. Kaiapoi (17s paid) were quoted by holders at 14s;'no buyers. ; Breweries were quiet,- but those wanted , included Carltons at 42s 6d; Bellers 43s 6d. ■ White Star, 10s 3d. Sales were as follow: —New Zealand Breweries 87s 6d, Staples : 53s'6d, Tooths 48s 4d, 48s 3d. ;. -■■;.., MISCELLANEOUS. i The miscellaneous market... was very ; quiet. There were buyers of British. To-. ; baccO at 45s 7d, sellers 46s 3d. New Zeai land, Drugs were wanted at 725, sellers 75s ■ 6d. Iron and Steel (pref.) ; were to be had.for a ; guinea. : ; .Sales were . as follow: Australian. Distilleries, 20s; Farmers' Trading Co, (Auckland, Bpref.), 14s • 3d; Milburn Lime, 355; N.Z. Paper : Mills, 20s, 4%d; Robinson Ice/Cream (new : issue), 245; Sanford, Ltd:, pref., 20s 3d; ' Sharfand (ord.), 21s; Union Oil (Auck- ; latd), 40s 6d; Wilson's Cement, 42s '9d. ' v. MINING. ; Mining business done during the week 1 was as follows:—Waihi, 12s 4%d, 12s 4d; ;' Mount 'Lyell, 41s '6d, 42s 6d, 42s 9d (cum. : div.), 44s 6d, 43s 6d, 42s 9d, 42s Bd, 42s ; 6d; Electrolytic Zinc (brd.), 34s l%d, 345, J and Electrolytic^ Zinc (pref.), 355; Okarito : (premium), Is sd; Kawarau, 4d; Kildare, \ 3s 3d, 3s, 2s 4d, 2s sd.