STOCKS AND SHARES

Evening Post, Volume CIX, Issue 120, 23 May 1930, Page 12

STOCKS AND SHARES

THE WEEK'S ."BUSINESS

GILT-EDOED MARKET

"..livening Post," 23rd M'uy. Investors aiJ]H'iiv to bo .showing a preference for Government seeuritie.-, local body debentures, ami hank and similar '■Class A" shares over shares in industrial, .enterprises, a? a glance at the: business done during tin; week will show. For iVa per cent. Government Bonds (1930) there were buyers yesterday at £•!)!) us, sellers quoting par. Salos of Government Loans were as under:—4% per cent. Stock (1938), XoS,.xas Ids: iYn per cent. Bonds (1935), £9S* I'flS 10s; -IVi per cent. Stock (1939), £0S; 5 1,* per cent. Stock (1036), £o?'ss, £99 7s Od; dM per cent. Stock (1932), XOS los. Local body loans in demand include 5 per cent. Eastbourne Borough (19iM);, .it £96 10s, sellers wanting £97; 3% per cent. Auckland Harbour Board (1937) buyers £90, sellers £9S; 5Vi per cent. City of Auckland debentures (maturing 1940 and 1930 respectively) were in demand at. £9G for either issue, the sellers' ideas of values being £97 for the former and £98 for the latter. Sales of local body issues effected during the week -were as follow:— 5% per cent. Newmarket Borough (1914), £100; 5 1/-: uer cenf.. Chrisfcchureh Trams '(1944), ■■ £97 10s; 5% per cent. Bay of Plenty Electric, £100; 5V4 per cent. Auckland 'Harbour Board (1948), £99; 5% per cent. One Tree Hill Road Board (1963), £100 los; ."5% per cent. Takapuna Borough (1064), £100. . Company debentures in demand included, the 8 per cent, loan of the AVellington Kaeing Club at £105, no1 declared sellers. There were also buyers, of &h per ccmt. (Jlaxo (1945) at £90 10s, holders not quoting A bid of £99 7fi 6d for the 6Y2 per cent, debentures of the New Zealand Refrigerating Company was responded, to with a quotation of £98. Sales reported durin^ the week were confined to 7% per cent. Gisborne Sheepfarmers maturing 393j, at £82. BANKS, INSURANCE, FINANCE. " Bank shares continue- in public favour, and the market showed an improved tone on the week's business. Bank of Adelaide were wanted at £0 13s, sellers not qbutin". Commercial ■ Bank o£ Sydney could havejbeen bought for £22 ss, buyers bidding £20.105. The D shares of the Bank of. New Zealand (cum. dividend) were in demand at 25s 9d to 26s od, no declared sellers.. Sales notified during the week were as follows:—New Zealand, 08s 6d. 595, 5Ss 9d; National of New Zealand, °-6 Gs- New South Wale?. £30 ss, £39 Gs (Melbl Reg.),..£ 39 ss; Union, £11■« 6d, £11 6s, £11.7s Gd; Australasia, £12 3s, M.S. and'A."," £0 25,. £6 2s 6d £6 4s; Australian "Banlcof Commerce, 24? 245, 24s 3d: Commercial, 20s Bd, 20s VM, 20s, 9d, 20s Bd, 20s Od"; National of .Australia (io), £7 7s, £7 "Bs, £7 9s 9d, £7 10s," and (£10) Insurance company shares- inquired for included A.P.A.'s at Gs to 6s Gd no declared sellers; Queensland? wanted at 46s JW,-sellers quoting; 48b Mi-Stand^-bad buyers at 495, holders firm at 595. The sales were as follow :-New Zealand Limance, 43s 6d, 43s 9d 445, 43s Mj.Sonth British, 09s, "59s 3d; National, 14s, Sd, 14s financial and stock and station companies' shares were . somewhat neglected. Dalgety'i (ex dividend), had buyers at £11 to £11 2s <kl, no sellers; National Mortgage were wanted at 59s to 02s uo sellers. For New Zealand Loan andMeicanlHe ordinaries £90 was offered without attracting business. New Zealand and River Plates had buyers at 28s 6d, sellers 30s. Wellington Trust and Loans were wanted at £7 Is od, holders not quoting. Sales of the week were- as follow.—(*oklsWghMort, 325,-318 9d, 30s; New Zealand Investment, Dcpost, and Mortgage,. 10s 6d; Dominion Investment (AuclclanciJ, 19s. COAL, GAS, SHIPPING. Demand for coal shares was slack, Hikurangis, ordinary, were wanted at Is 3d, sellers 2s, and the preference shares 111 this company had buyers at 4s and for A pref. at 3s, sellers, of the latter quoting 6s. Pukemiros had sellers at 70s, with no bide. Taupiris were wanted at 245, but were held for 25s Od. Buyers of Waipas quoted 9s Cd, holders wanting 10* (id. There were sales during the week of Westports at 31s 4d to 31s 6d; and of| Westport-Stocktons (ord.), at Is sd. j 1 Gas companies' shares attracted some notice, and the following business, was done:" Wellington (ord.). 30s 6d; Auckland '(ord.), 24s 2d, 24s Id, 24s 3d; Christchurch (ord.), 26s 7d, 26s Gd, 26s'2d; Timaru, 21s 3d. ■ Shipping companies' shares were, very quiet. Sellers of P. and O. deferred quoted nOs, with no business resulting. Union Steam Ship preference had buyers at 20s to 20s 6d. but lio sellers. Sales were notified as follows: Huddart-Parker (ord.), 37s Gd; Devonport Perries. 225; Northern Steamship (ord.), 14s 2d, (eontr.J, Gs Gd. INDUSTRIALS AND OTHERS. Timber'shares were dull, but there were buyers of Nationals' in the market at 7s 3d. There, were sales of Kauris at 12b S)d. Woollen shares were" neglected. Kak-. poi, 17s paid, had buyers at 10s 9d, sellers at Is advance on that price. For the ordinary issue of the AVellington Company holders were prepared to take £0, and Is more for the preference shares. Breweries* had good inquiry., and the New Zealand Breweries shares in particular. Those, in demand were Crowns, at Ss 9d, Wards (in liquidation)' at 11s 6d, sellers 14s Od. There were sales during the week as follows: New Zealand Breweries, 525, 52s id, 52s lid; Carltou, 335. 6d; Staples, 47s 3d; Tooths, 33s 6d, 345, 34s 9d, 33s 9d, 345, 33s lid. Meat shares wore not popular, and inclined to weaken on present comparatively low prices. For Canterbury Frozen Meat £5 was offered and £6 5s demanded. Wellington Meat Exports had buyers at Gs. The New Zealand Refrigerating Company's £1 shares were wanted 'at 10s to 10s 3d,. sellers lls, and the 10s paid shares were down to 4s 6d buyers, 4s 8d to 4s skl sellers. There were sales of Gears at 158s 3d and 3Ss. MISCELLANEOUS. Other shares were generally quiet, _ but with interest mainly focused on British Tobaccos and Wilson's Cement. Colonial Sugars were in demand at £40 10s to £40 12s Gd, sellers £41 10s down to £41 ; Sales notified during the week were as follow; Amalgamated Wireless (eontr.), 2Ls Cd; British Tobacco,'3Bs 6d, 30s, 38s 7d, 395, 39s 2d, 39s Cd. 39s 7d, 39s 0d; Dunlop:i?erdriau, 15s 3d, 14s Sd. 14s lOd; Eclipse Petrol, las; Electro Zinc (pr'ef.), 25s 9d; Farmers' Trading (Auckland). 8s Sd, Ss 9d; Fanners' Fertiliser, 18s 0d; Milburn Lime, 32s Gd; New Zealand Drug, '04s, 03s lOd, 63s 4d; New Zealand Paper Mills, 20s; Wilson's Cement (cum iliv.), 42s Cd; United Pictures, 20s. . MINING. Sales: Mount Lyell, 28s 0d; 28s Id, 27s M, 28s, 28s 9d; Stoney Creek (Cd), Gd; Paddys Point, 3s lOd; Okarito (prem.), Is (id; Taranaki Oil, Is. JUNE DIVIDENDS. Dividends usually receivable in Welliugton in June are as follow: Bank of New Zealand, ordinary and D shares, Goldsbrough, Mort, New Zealand Loan and Mercantile, Perpetual Trustees, GearMeat, C. M. Banks, Gisborne Gas, Wellington Gas (prct'.), Devohport Ferry, Australian Glass, British Tobacco (quarterly), Warmers' Trading (Auckland), Morris Hedstrom (Fiji), Henry Jones Co-op., Mount Lycll, National Electric, Farmers' Fertilisers, United Pictures, Scoullar and Co., Wilson's Cement.-