PRODUCE & MARKET REPORTS FROM DAY TO DAY

Evening Post, Volume CX, Issue 147, 19 December 1930, Page 14

PRODUCE & MARKET REPORTS FROM DAY TO DAY

STOCKS AND SHARES

VALUES THEN AND NOW SALES OF THE WEEK

'Evening Post," 10th December.

Tllis will be the last weekly review of the stock and share market for 1930. Business during the week has been small and spasmodic, and no doubt investors as well as stockbrokers will be glad to sec the back of a .particularly trying year, with a general decline in values of almost every tried- and trusted investment in the market, not excepting those in the gilt-edged category. The year . began witli the cloud" of the great collapse', on the New .York. Stock Exchange, and the Hatry smash in London hanging'oycr the market, and Australia had already-started on its political troubles,, which have been intensified during the year. .But -worse still are the effects on values of the low prices ruling for wool, dairy produce, meat, wheat, and metals. .' The fall in values of the three first commodities seriously concerns, New Zealand's income; but with a lifting of values for wheat and metals New Zealand would indirectly benefit, while Australian prospects would improve at once. ■

Necessarily dividends have been reduced, and bonuses have disappeared, in too many instances in .Australia no dividends have been'paid at all. In these circumstances the price of stocks and shares are necessarily well below the levels of this time last' year, and they, were then substantially below prices: current .in the middle of the year before the New York and London events above referred to knocked values down. The. depression in share values began in November, 1929, when the Bank of New South Wales withdrew its bonus of 2% per cent., religiously paid for so many years. To-day values are very different from what they were a year ago, as will.be seen hereuhder. The following comparison, with strictly approximate prices, will show the difference between values of investments a year ago and to-day. During 'the, year "now closing, loans formerly regularly paid have not been sanctioned, in some cases dividends have been reduced. Profits generally have been less, and in some instances heavy losses have been sustained. ; y > : Dec., Dec, 1 ■ 1929: 1930. £ s.' d. £ s. d. Investment. Government Loans— Wp c. Bonds (1938) 100 0 0 98 0 0 4% p.c. Stk. (1938) . 100 0 0 98 0 0 4% p.c. Bonds (1939) 100 0 0 38 5 0 4% p.c. Stk. (1939) 100 0 0 OS 5 0 5^ p.c. Stk. (1933) 101: 0 0 99 2 6 6% p.c. Bonds (1933) 101 0 0 100 0 0 s*l p.c. Stk. (1936) 10110 0 99 10 0 5% p.c. Bonds (1936) 101 10 0 — 5% p.c. Stk. (1941) 100 0 0 9o 10 0 BanksBank New Zealand . 218 9 210 6 National of N.Z. ... 616 0 55 0 Union Bank 13 16 0 815 0 Bank of NS.W. ... 42 17 6. 28 15 0 BamVof Australasia . 12.17 6 910 6 Commercial Australia. ,1 2 8 016 2 E.S. and A. Bank ..., 73 0- 5 0 0 Rational of Aw ■.=■ '_: tralasia (£10) ... 16 12 6 14 0 0 Nat. Bank Aus'asia (£5) ..:.... 7.19 0 .5 3 6 <Amt. Bank Comm. 19 0 018 11 Commercial of Syti. 23 12 6 16 10 0 Insurance—) JfZ. Insurance .... 24 6 216 South. British ..„.. 32 0 214 6 Queensland ~.,-.. 213 0 20 0 Standard *fa. 3* 0 210 0 National ~-WK- 015 2 014 0 Finance— TMeety 13 0 0 610 0 Sbrough Mori. . 116 6 019 6 Coal— Westpoit Coal Jll « J« g GasAuckland ...„.„„,,. 15 0 13 0 Wellington .\3&,. ) 10 R ° ]! 2 Chnstchurch. ..... 16 6 14b Shippinfl— Huddart-Parkei -£30 y and (X-Deferred 211 0 20 0 Union Steam (pret) 11 0 019 0 preweris*— 3STZ. Breweries .... 47 b 200 Staples 210 0 118 3 Tooths -2 3 ° 12 3 MeatGear Meat Co. . .2 3 0 19 3 NZ. Kcfng, 10s paid 0 0 3 0 1 6 Miscellaneous— British Tobacco .... 25 3 110 6 &*&-::::: 4» » Wilson's Cement ■~ , 3 118 3 Milburn Lime 116 ° }' ° Business done during the week will give an idea of the. state of the market to-day. What it will be when business is resumed in 1931 must necessarily be a matter of conjecture. ' Sales of Government securities were as follow: — " 4% p.c. Bonds-;(193S), £08; 5% p.c.. Stock (1933), £99 10s; 5% p.c. Bonds (1933), £100; 5% p.c Bonds (1936), £99 10s; 5 1-8 p.c. 5t0ck;.(1937), £96. Considerable business1 was done in local body loans, considering the comparative rarity with which'they formerly appeared in the list of sales. The following transactions, have been notified: — 5% p.c; Auckland Harbour Board (1939),. £95 ss; 4 p.c. Auckland Harbour Board (1936), £91; 6 p.c. Takapuna Boriugh (1945), £100; 5% p.c. Napier Bor- " ough (1944), £91 2s 6d; 5% p.c Mount Eden Borough. {1964),. £97, 10s; 5% p.c. •Tamaki' Weßt Road Board , (I960), £9» ' 10s; 534 p.c Mount Eden Borough (1984), '•P92 ' ■ .....,- ■■, ■.. ■ ■. BANKS, INSURANCE, FINANCE. There 1 was a moderate inquiryfor•company debentures,' "but so far.ais can'be ascertained no sales were reported. Bank shares w.ere but sparsely dealt in, and the'following, pales were recorded:— Bank of New Zealand, 50s 6d, 50s 9d, 50s 3d, 50s'6d, 50s 7d, 50s 6d, 50s 3d 50s la, 50s; National Bank of New Zealand (cum. div.-)-, :£5 ss; Bank of Australasia, £9 10s 6d, £9 10s, £9 7s 6d, to £9 ss; Bank of New South-Wales, £28 12s 6d, £28 10s, £28 15s; Australian Bank, ot Commerce.' IBs lid; Commercial Bank ■of Australia; '.16s/ 16s Id, 16s 2d, 16s 2y 2 d, 16s Id, 16s ■.id.'/' Insurance. company shares were not-in great demand, and holders were generally prepared to. iquit .at. market. prices. ■ The following sales were made:— New Zealand Insurance, 41s, -41s 6d, 41s; South British//555, 54s 6d. . , Stock and station' arid financial company rhares excited but moderate inquiry, the following sales being reported:— Dalgety and Co., £6 10s, £6 7s 6d, £6 7s;, New ■ Zealand Investment and Mortgage, 10s 6d; Goldsbrough Mort., 19s lid, 19s 2d, 19?, 19s 3d, 18s 9d. , BREWERY AND OTHER SHARES. Values of brewery shares over the week showed a decline, but there were buyers about for all" usually dealt in on the Stock Exchange. Business done was as follows: New Zealand Breweries, 39s lid, 40s, Ws 2d, 39.5;9d, 39s 6d; Staples and Co., 38s 3d, 37s 9d; Tooths, 22s 3d, 22s 2d. Coal-mining shares were slack, with a Reported sale of Renowns at Bs. Gas shares were neglected. Meat companies' shares were but little dealt in, with one exception—the 103 paid jif New Zealand.Refrigerating, for reasons already referred to in this column. Sales H meat shares were as follow:— Gear (ex. dividend), 29s 3d; New Zealand Refrigerating (10s), 9d, Od, Is 9d, Js 4d, Is 6d, Is 3d, lOd, lid, Is Id, Is 3d, 3 s 4%d, lid. Sale* in. the miscellaneous section were feited Wjitiftowi— ■ ... ; . 4swte*E*a ©iass, 25s 9<£g Beath. and

Co. (Is), 4s (3(1; British Tobacco (aim. div.), 29s lid, 30s, 30s Od; Consolidated Brick and Pipe, Auckland, 13s; Electrolytic Zinc (pref.), 17s 6d, 17s, 17s sd: HoldcnV Motors, 0s 3d; New Zealand Drug, 52s G<l, 51s, odd'lot; Taranaki Oil, 2s 7d, 2s 3d. MINING. Sales of mining shares were few, the following- business being reported:— Waihi. 14s 7d, 14s 4d; Mount Lyell (emu. div.), 19s lOd, 19s 9d, 19s lOd, 19s 9d, 19s' lid; Okarito, 4s 10d, ss; King Solomon Mine, 7d; Mahakipawa, Sd; Cornish Point, Id. I