STOCKS AND SHARES

Evening Post, Volume CIX, Issue 149, 27 June 1930, Page 12

STOCKS AND SHARES

• A WEEK-S BUSINESS

STATE OF MAKKETS

'Eyening Fos'.,'

27th June,

■The end of.the.first halt of 1030, a so lay-'!difficult; year- is reaibed ■ with relief. Nmv Zealand'is Bitill reacting to conditions in'/'ilie ■'•investment,.market's oi." Australia, wfiicli are/ overshadowed bys the latest Cpmnjopw-eajili: local .loan,, the second this year, <of £l(i,000;000—a loan not under-written-by the- banks. Besides this, reduced returns from the Dominion's exports this' year,-.: with uncertainty as. to what' the' Government, is likely to do by .way'of -effective economies,;are having an .unsettling i influence "over ■■.the , investment market. The necessity impelling the Board of the National Bank of New Zealand to •..-withhold- its now customary,, bonus of .2 per cent, may have been'foreseen by the chairman, Mr. \V. Pember Reevesi, when he ■■stated.at. the. last ..annual, meeting pi' the -company:'that shareholders might be sure that if the directors thought it neces-•ary-they w.ould,..not-hesitate to withliold or"reduce thei bonus.: ■_■~.,. .-.:'., r The;banking' position.in New Zealand on latest-published figures (19th May), ;■ compareci' with' 'those fdr the, corresponding ffgiir'cs"- oE'last •year,- compare as follow.: —

. -3930. 1929.; 'J.9UI May.; ■~2oth- Slay

' ■';"■■■"."' ':;-,'•■'■.-"■ ' ■-,■■.•..•/,'■. H '■' '.'''■.. &-'..-■■' Ilei>oJi&,..flxcd and {free' :• 53,-7ST4,p3S 37,001,264 Advances anddiscounts . 53,9GG,59G . 4.7,051.0.0-i' fixcess advances, 1930—5212.735. :.

rst'eas' ;iiepo3its,: 1929—'£'9',950;207.

Banking returns then, so far as they »re a,vai!able, show a balance against the public o£ over £10,000,000 for this year compared with last. Apart from Australian conditions as they a'ffecfc this market, it.will be seen in these, figures that there is manifestly 3e*> money available for investment this year.- -But lock-up. securities, especially <sov«rnment' loans, are, finding a fairly good market, and especially the 4% per cent, loans free. of .income-tax; For these there are feuyers of 4% per cent. Stock (1939) :a%- £90, sellers £99'7s 6d. The 4% per-cent. 'Bonds (1941 and 1930) are also-in-demand'at'£o9-5s and £99'10s respectively. The sales notified during the1 week have been as follow:r-4% per cent.. Stock ,(1935). £99 5,=, £99 2s Cd, £99 7s, 6d, £99 ds,£99 2s 6J; 4% per cent. Bonds (1338), £99 10s; oM per cent. Bonds (1936), £99 ,10s; 5Vi, per cent. Bonds (1933),, £09 !os. .'•

- . Local Body Loans. Inquiry for loans of local..authorities include Auckland' Power Board, 5%,- pet cent. (1958),. at £97 10«« seller* at .pai". Thc;4J^-per.cent. issue ot Wellington City Coungib (1933) were offered at £91 12s 6d, with' no , disclosed buyers. Sales ot local body loans reported for the week ■K-erc as .follow:—oH per cent. City ot Auckland: (IMS), £08 10-: 5% per cent. Tamaki Road Board" (IMS). £100: 4 per wnt. Auckland' Harbour Board (1036)..£00 10s. '.'..' '"' ' ' Bank Shares. Business has been fairly brisk in bank , shares; and all of them generally listed have changed hands', the following being the Diibliehed' record of transactions:— Hank of Now-Zealand, *59s 3d, 15Ss, and D Shares! 27s H&d; National of bow Zealand, £6, Se,'i £6 8s; Union Bank, £11 i:«s. jCll 12a'Gd; Commercial of Sydney, £21; Bank' New South' Wales,.£3B ss, £38 10a; Bank of 'Australasia, £12 11s, * 2 10.,; Bank .of Adelaide,. £7; Commercial Bank of-Australia; 21s 9d. 21s 7%d, 21s sd, 21s fid, 21s 3d, 21s 4d. 21s Id, 20s lid, and preference'- £6 11s 6d; Australian Bank o£ Commerce. 24s .3d, 24s Id. 245: KS. and A.;. Bank, £6 OS 6d, £0, £6 > £6 Ss-'£6;ls; National of Australasia (£o), £76^6d, £7 7s '6d, '£7 4s, £7 ss, £7 m 6d: 'National Bank'of Australasia (£10), "£lo',6s 6d, '£15 os. ''" ..." Insurance Companies. Queensland Insurance were ™nted at 60s, no declared sellers. AvP.A. had buyers at sb, sellers 7s 9d. Standards could Have-been-had'for 60s, no.buyers,, and Nationals had filers at 14. 6d. Sales were as folIow:-New Zealand Insurance 47s 3d, «7s 46s Od, 475, 47s l%d; South British, 605,, 59s 6d. Financial Companies. ■ Interest in financial stock and Nation companies flagged during the week, Wellington Trust and Loan.had buyers at £7 le 6d, holders not quoting. key Zealand Guarantee Corporation -remained _. round - about Bs, buyers offering 7s lid. Dalgetj and Co. were wanted at £11, .sellers not quoting. There were inquiries lor jNation- & Mortgage (£1) at 31s, but no filers. Permanent Investments were asked for. at £10 ss, with no sellers. New Zealand Loan and Mercantile ordinary were wanted at £90. Sales effected were as follow:—Wellington InvestmcmVT. and A., lls; United Building, 'Ms' lid; Goldpbrough Mort,- "30s lid', 303 lOd, 30s 10% d, 30s Cd. ; ' Coal, Gas, Shipping. Inquiries for coal mine shares wore very slack with buyers of Wcstports at 30s_ to 30s 9d according to' the market. . TaMpiris were in demand at 26s 6d, no sellers. Pukejniros -were -wanted at.64s, sellers GSs. There were sales of Renowns at 14s ■Gas company shares were dull with sellers of Gisbornes at 13s 6d. I'or ■ Wellington preference 16s 9d was offered, but failed to interest holders. Sales of gas shares were as' follow:—Auckland, 2os sa, 25s 2d,.and (con.) 18s 6d; Christchurch, 26s 3d. ~ , . , Shipping companies shares excitctt but little interest. For Union Steam Ship preference buyers offered 20s 3d, but no sales were notified. P. and O. deferred were wanted.at.4ls, sellers 48s to 50s. The sales of the week were:—Huddart Parker (pref..) 39s 9d:'Howard Smith, 20s; Northeiai Steam Ship, 14s 6d; Devonport Ferry, 22s Od. Industrials. Very little interest-was shown in industrial shares. .Wellington Woollen ordinary shares could have been had for £6. Ihere •were' sale's of Kaiapoi (17s) at Ms. ' ' Meat f-hares were neglected with buyers of •£! paid New Zealand Refrigerating at 30s 6d. -There were inquiries for Wellington Meat Exports at 5s 6(1, no sellers, but holders of the preference issue of this company were willing to part at a .guinea. Sales were noted of Gears (ex dividend) at 375, and New Zealand Refrigerating (10a) at1 5s 3d. . Timber shares were not rushed, tor Let-land, O.'Briens 26s !M ' was offered, holders wanting.2s above that. JNationals had tellers at 9ti to 10s. There were sulcs | of Kauris at' 14s.' I , '• ' ' Breweries. | Brewery shares had mostly tellers, but I T'oohey's were wauted at a pound, holders A3kirig a guinea.' There were sales as iqllow: > New Zealand Brewery, 50s 9rl, 50s 6d, 50s 9d, 50s lOd; Staples, 47s 6d;.Wards (in.liquidation), 10s 6d; Timavu (ss), 6s. Miscellaneous. ,Bus/incss was quiet in the miscel!aneoui> ajvision,. and. calls for no special remark this week. Sales were as follow:— Amalgamated Wireless (contrib.), 20s 63; 'Australian Glass, 40s 6d, 41s 6d: Australian Distillery, 225, 21s 7d; Tobacco, 38s l%d, 39s 9d, 39s lOd, 39s Ckl, 39s 3d, 39s 6d, 39s Id; Booth Macdonald (pref.), 4s 3d, 4s 4d; Colonial Sugar, £42 10s, £42 2s 6d, £42 10s, £42 ss, £42 10s; Electrolytic Zinc (ord.), 23s Bd, 23s 3d; and (pref.),,2ss 9d, 2os lid, 25s 9d, 25s lid; I"armers"Trading '(Auckland), 9s; Robinson Ice Cream (Auckland), 255; Wilson's Cement, 455. : ' ' Mining. Alining business was as follows: Waihi, 33s 9d: *Mount Lyell, 275. 4d, 275, 27s fid, 27s 3d, 27s 3d, 27s 3d, 26s 7d, 26s 9d, 2Gs 3d, 26s.8Hd. 26s 3d; Okarito, 83 lOd, os. 9s'3d; M'ahakipawa Id. , ..'rCum div. fEx div. July. Dividends. Interest and dividends usually receiv- "" »ib!o in Wellington during the month of July are as follow: 5 per cent. Government War Stock'and Bonds (1930), 5Va per cent. <" tO vernment Discharged Soldiers ' (1933)', iustralian Bank of Commerce, 'Commercial Bank of Sydney, National Bank of.

New Zealand, Union Bank, Equitable' Building ,C0.,/Finance, Ltd., National Mortgage, New Zealand and '■River Plate Land, Wellington Investment Trust Loan, Wellington Trust and Loan, , Auckland Gas, New Zealand Breweries, British Tobacco ■ (quarterly), - Kelburn-Karori Trams. ..■: , ; ' ' ■