STOCKS AND SHARES

Evening Post, Volume CXI, Issue 73, 27 March 1931, Page 12

STOCKS AND SHARES

MARKET TENDENCIES

SALES OF THE WEEK

"Evening Post," 27th March. Business in certain sections during the past week has been fairly active. Bank shares have attracted most attention, but the market for these is, if anything/ a shade weaker. Government loans, however, have hardened and are in fairly good demand, but are well held. Buyers were in the market yesterday for 5%. per cent. Stock (1933) at £93, and 5 1-8 per cent. Stock and Bonds (1937) at £34 los and £95 respectively with no disclosed sellers. For 4% per cent. Stock (1939) £97 2s 6d was offered, butt here'were no sellers. The actual business notified during the week was as follows: — 4% per cent. Bonds (1935), £96 10s; 4% per cent. Stock (1938), £96 10s; 5% per cent. Stock (1933), £99 ss; 5% per cent. Bonds (1933), £90 ss; 5% per cent. Stock (1951), £97 10s. Local body debentures in demand included 5% per cent. Wanganui Borough (1044) at £97; 6 per cent. Auckland Harbour Board (1941) at £100 10s; 5% per cent. Auckland Hospital (193o), at £96. The sales of the week were as follow:— 5% per cent. Wellington City (1935), £97 15s; 5% per cent. Tnkapnna Borough (1964) £98; 5?4 per cent. South Canterbury Power Board (1936), £9S 10s; sy* per cent. Christchurch City (1949), £93; 3 per cent. Manawatu-Oroua Power Board (1951), £88 2s 6d. Company debentures bid for included 8 per cent. Wellington Racing Club at £102 10s, 5 per cent, and 6% per cent. Auckland Gas (1932) and (1935) at £95 and £100 respectively; 10 per cent. New Zealand Breweries at 21s 3d; 6% per cent. Glaxo (1945) at £87, sellers £91. .So far as can be ascertained no sales of company debentures were published. BANKS, INSURANCE, FINANCE. Under this heading business was almost entirely confined to bank shares. For those of which sales were not reported there were inquiries for National Bank ol Australasia (£10) at £10 ss, holders asking £12; National of New Zealand buyers ■£5, no disclosed sellers. Holders of Commercial Bank of Sydney were willing to do business at £16 10s. The sales notified were as follow:— Bank of New Zealand, 51s 9d, 51s 3d, 51s 51s 3d, 50s 6d, 49s 6d, 50s, and D shares, 26s 6d; Union Bank, £8 12s 6d, £8 10s; Bank of New South Wales, £27 10s, £27 7s 6d, £27 6s fid; Bank of Australasia (cum div.), £10 ss, £10 6s, £10 6s 6d, £10 7s 6d, £10 ss: Australian Bank of Commerce, 16s l%dr Commercial Bank of Australia, 15s 10% d, 15s lOd, 15s 9d, 15s lOd, los Od, 15s Bd, 15s 6d, 15s 7d, Iss 3d; National Bank of Australasia (£5), £5 4?, £5 ss; E.S and A. Bank, £5 15s. £5 10s;. Queensland National Bank, £4 5s Gd. Insurance company shires were very nuiet. Standards were wanted at 44g to 455, sellers 555; Nationals had buyers at ]2s 9d to 12s lOd, but sellers quoted no ■,-nver than 13s 3d. and some 13s 6d. The business done in insurance shares was as iollov.-s: — N&w Zealand Insurance, 425; South British, 555. Stock and station and financial companies' shares had but moderate inquiry, but orders were in the market for Equitable Building at £7 lls, sellers £3 4s 6d to £S 7s 6d. Loan and Mercantile ordinary stock were wanted at £60. Others were generally sellers' quotations. The business done was as follows: — Dateety, £7 15s: Goldsbrough Mort., 21s ]6d, 21s 6d; 'New Zealand Guarantee Corporation (Ss, cum div.), Cs sd, 6s 7d, 0s 6d. COAL, GAS, SHIPPING. Coal mining companies investments were Fumewhat neglected. Taupiri preference, with half-yearly preference payable next week, had -buyers at 21s, no sellers; and (he ordinary shaves in this company were wanted at 20s 3d, sellers 2:25. Sales were as follows: — Westport Coal, 25s 3d; Pukemiro, 40s. Gas companies' shares were a dull market, but for Wellingtons there were buyers at 26s 3d, no sellers. The business done in gas shares this week was us follows:— Christchurch, 24s 10d, and (10s), 11s 7d; Auckland, 23s 3d, 23s 'id, and (contributing), 17s. Shipping shares generally were not wanted, but buyers were prepared to pay 32s to 34s for P. and O deferred. Northern ■Steamship (paid) were in request at 10s, mOWs 13s. Union Steam Ship ]3reference hid buyers at 19s. There were sales as follows:'— Huddart-Favker (old.), 225. Local industry investments were not in particular request. Timber shares were quiet, but Leylnnd-O'Briens were asked for at 21s, holders not quoting. For Kauris there were bids at 8s 3d, no sellers. Wellington Woollens were wanted early in the week at 82s 6d for ordinary and B"is for preference, but holders were silent. Kainpoi ford.) had buyers at 7s Gd. Kelburn Trams had buyers at 2!)s, but no sellers. Meat shares were quiet, with buyers of Canterbury Freezing (pref.) at 655;, sellers Sos. Sales' of meat shares were reported bs follows:— Gear, 30s; New Zealand Refrigerating (10s), 4s, 3s Bd, 3s 9d, 3s lid, 3s 9d, 3s 6d, 3s Si, 3s 6d, 3s sd, 3s 6d, and (£1) 12s 9d, 12s Sd. Breweries attracted the attention of in\estors, who wanted Carl tons at 21e, with no sellers; Staples wanted at 33s Ucl to .'!4s (id, sellers quoting 37s 9d: Tooheys. with buyers at 13s 3d, had sellers at 17s; White Stars were bid for up to 4s, but fillers stood out for 12s. Sales of brewery (■hares were as follows:— New Zealand Breweries. 3Ss, 37s (id, 37k VAd, 37s 6d, 37k Id. 36a (3d, 36s Id. 3Gs; Tooths, 2ls Bd. 21s 7d, 21s 4.1; Timaru (ss), 6s 9d. MISCELLANEOUS. Kusinws in (his; section was generally 'luict and mostly sellers. Australian Glass l>.-id buyers at L'Ss Od, hut. sellers would not quote: less than 28s; Milne and Choyce ■S per cent, debentures and shaves were inquired for at 18s Od and I9s respectively, b'lt sellers refrained from quoting. Allied Motors were inquired for at !)d, and holders were willing to take Is 4d. DunlopJVrdrian Rubbers hail buyers at 7s od. N-.'lh'vsi fte i.'d. Wimderlicli.s wr>re wanted at. Ss 9tl, sellers standing nut for ]ss. Others were generally sellers. Sales effected were as follows: — British Tobacco, (cum div.), ,'IOs, 30s "Id, 29s Sd, 29s 0d; Bycrofts, Auckland, ".'ss G'J; Bcatli ami Co. (Is), 3s Id, 3s; .Burns, l'hilp, 33s 9cl; Colonial Sugar, £31; Electro. Zinc (ord.), 12s, Us Od; Farmers' Trading, Auckland, (is 3d, 6s <i<(, 7s; New Zealand Drug fi-um div.), .J7s lid; Wilson's Cement, 40s. MINING. Salen of mining fliares were fairly numerous, the following business being dons:- ---' Waihi. l.is 5(1; Grand Junction, 2s 2il, 2s 3d: Mount Lyell, 21s 3d, 21s M, 20s 10:1; King Solomon, Is !)d, Is 10IM, 1s lid; jUihakipawn, 7<H 7d, VM, 8-.1, M, nVid. 10Ud, lOd, Ui'i'l; Moanataiari. i Is 4d; Cornish Point. 41/ s d, 4d. (3s 2d | paid) 4d, and (is 6d paid), 4rl; Okarito, 7s Id, 7s 4d. 7s (id; Kuala Kamii.ii Tin, (Is. AWATUNA DREDGING. Advice has been received by tho secretary of Awaluna Extender! Gold Dredging Company, N.L., that the dredge had been I rimmed' in 'Ippp water, and was to have • ■■•inniPiKfil regular work on Ihree shifts .13 from 25th March. i