STOCKS AND SHARES

Evening Post, Volume CX, Issue 40, 15 August 1930, Page 12

STOCKS AND SHARES

A QUIET WEEK

INVESTORS LACK CONFIDENCE

Evening Post," luth August,

the two great spoiling events at i he.jjasfc seven; flays, the football mutch iind nicest Cbristchuvch, business on die Stock. Exchanges of the Dominion as . a; whole has been slack, to say nothing of the general want .of confidence of investors. Th 2 "demand for Government loan deben-ijn-es, especially for the income tax-free issues* tells '.its own story. Bank shares have Changed hands, but- the demand for those'is not * ever-keen, judging by prices .jWlUod. Not only New Zealand's own domestic taxing and tariff difficulties are "ciuising investors to hold their hands, but the interference in free exchange of products within the Empire itself by Dominions' tariff changes—particularly Australia and Canada as affecting New Zealand— ■', and those in "the United States, also bearing on the export of this Dominion, have ai depressing/effect; on trade generally, all ljciped by the lower returns for New Zealand exports to the- United Kingdom, the. '.only existing tariff-free -outlet for- this cu-.i'n try's produqts. , 1 -i In the local investment market; there is an unsatisfied demand, for 4Vz per cent. • (Wei-nment stocks and bouds at an ad-v.-iiifc1 of 1-S per cent, on the week tor fhe 1038 and 1939 maturities. The 5% per ('■r'nt;'Government stocks and bonds (1933 and 1936)-are'wanted at £99 ss. Sellers of 4V~ poxvfcent. bonds (1938) quoted up to iIOO 2s od., Business recorded during the week was as follows:— iVz per cent, btock (IG3BI, £M 10s, £99 15s; iVs per cent. Stock (1939), £99 a.ss. . Local body debentures wanted included &i per cent, and 6'per cent. Auckland Harbour Board at. £91 and £101 respeciivclv There were-sales of sxh5 xh per. cent. Wellington City (1934); at £98 15s. , X Company debentures wanted included 6^3 ■lior cent. Glasbs at £90, holders not quotiii"- Sellers of'■other debentures were prefmraf to" quit, Wright, Stephenson 5 per cent, prior lieu, tax free at £81; New/ea, land Hcirigerating 6% per cent. (1935), at £97- Williamson Films.7% per. cent., at -•£101; Gisborne Sheepfarraers Vh per cent. at £90, with buyers at £83. Among the wameds were New Zealand Brewenesat 21s; Auckland Gas 6% per..cent., £101, sellers.-.£102. .;■; ;..'... 1 banks; insurance, finance. Bank shares had-only moderate inquiry and that at comparatively low prices Holders of Adelaides quoted £6 12s early in the week, moderating then- price to £b Bs, .buyers £6 2s 6d, but no business was reported. Bank of Australia had buyers at £11 14s, sellers wanting £11 lasgatkLlg o£ Australasia (£W) we« bid 'for up to £14, sellers firm at £14 2s 6d, and for the £5 paid shares of this bank £6 18s was offered, holders wanting £6 i9s Cd. The 7% per cent. D shares of the Bank of New Zealand w«re ni demand ■at 2Gs Cd to 275, sellers 27s 6d. Sales notified during the week were as follow:— Bank of New Zealand, 5Gs, 55s lid, 06s; 'National of New Zealand £5 14s 6d; ifnion Bank, £10 14s, £10 los, £10 14s, £10 13s 6d; Bank of New South Wales , '£36 15s; £36 12s 6d, £3G 10s, £36 7s (ill. £36 ss. £36 12s 6d; Sydney Register, £36 10s; E., S., and A Bank, £o 18si £5 16s 6d, .£5 17s; Commercial Bank ot i-Vuatralia-^, 20s 3d, 20s 4d, and. preference, £0-8s;-Australian Bank of Commerce; Sis 3d, 225; Conimercialßank of Sydney; ,£2U 7s'6ci. . .

Shares in local insurance companies were in poor- demand. Standards had sellers at 59<s-fld-to ROs; Queensland* were wanted -tt 43*; • sellers 47s Gd to • 40s. , lor to Jam-act" quotations from holders, lie, sales-of insurance company shares tor tlie week , W ,e.re:..^ew: Zealand-Insurance, 425, 41s :»d:'JSoutli British:'s7s;' Nationals, 14s. Tinaneial and stock and--station' companies" issues attracted, but little attention. ' Wellington' Trust rtM; Loan, however .were .wanted at £6 10s, no-declared ■sellers-•--The £1 shares of the National MortgageiCdmpany had inquiries at 30s; sellers 355; New Zealand, an* River Kntra were wanted at 275, sellers 295. lor *e» Zealand Guarantee Corporations <s 9d offered, sellers quoting 7s lid GoMsbrough Morts-had buyers at 27s 4d but 2to-»ouW Wive'been accepted by holders Wnght Stephenson; ordinary, were.to be-had ioi 225; Newton King, preference, had bujerj at 12s, but 16s 6d was the sellers lowest Citation. The business done Id tls sec-De-icsft-.ahd- Mortgage, 10a id. ■&' COAL., GAS, AND; SHIPPING. ' m 11s to Us ed; Pukemuos were on Pjji !^;:*«oSy quiet, with buyers m^S^fßW. There were salps at Auckland at Jis. , mmsm Steamship1 at 14s 9d. -BREWERY AND OTHER SHARES. oskQl °Ss 10d; Carlton, 30s del. •fwoolten shares were neglcctefi, sellers Wellington ordinary quoti"B f» ""^ ~oHusiness was. reported Jheie veie B ales ,-.£ Kaiapois (ord.) at 9s /d. Timber .shares were unwanted, vitli scll-ov^HeVland-O'Briens at 20s and Na-t!onins-af 10s Gd; buyers Ba. bales o£ K'auj'is at 13s wore recorded. ' MISCELLANEOUS. Business .was'inconsiderable in the miscellaneous section, with the following sales notin«l:-nh-Ui f h Tobacco. 3/a 4d, 37s (id; 'Electrolytic Xmc pcrfei-enee, /Ss fiif- ->3s (id'-^Holdens1 ISlotovs, 9s ad; >c\v jfc'nlan.t Dn.-. 02s o<l . ■•■Mi'niii" shaves were exceedingly quiet. wUli Mies of Waihif at 14k 2d, Grand Junctions iit 2s to 2s Id; but Mount Lyells -wore aft!"- tit 225, 22s 3d, 225-4 d. 22s Gd, 22s 4(Ti Thpre were poles of Okarito at Gs .10(1 anil (•!' Mahakipinvas at 2d to 2'Ad. .'■■r'JCnr .iiiki Oil l-'ields X.L. sold .at 2s Gd. M.JTEREST AND DIVIDENDS. /intcTPSt.and dividends usually receivable ivl""Willinjitpn Hi September are as follow: -riVx pei-.ccnt.'War Bonds (1030),.niaturi|•■{;;■■■ 4%. per cent. . Govei'imient Stock (il041), 5% p.c. Government . Stock (1041), >'.-5 . P-c.- .Governnient Stock (1941), Standard Insurance, Metropolitan Permanent, Southland Freezing Company, Hudilart-Parker, British Tobacco (quarterly). Electrolytic Zinc, Holdens' Motors, Howard Smiths, New Zealand Drug, Xew Zealand Milk Products. . ■ *Cum. div.