STOCKS AND SHARES

Evening Post, Volume CXI, Issue 78, 2 April 1931, Page 12

STOCKS AND SHARES

LOCAL BODY ISSUES

PRE-EASTER BUSINESS

"Evening Post," 2nd April. Approach ■of Easter and the close oE the first quarter o£ an already difficult year will partly account for indifferouce of investors, except for hanks and one or two other shares. The sule of local body loans, however, continues, and if holders are wishing to quit them there seems no difficulty in finding buyers. The number of transactions in these local body loans are not disclosed, but it is to be noted that the business done includes sales of the issues of authorities with jurisdiction in such widely separated points as Duncdin and Auckland, and includes loans of city, borough, and road board authorities, also those of harbour boards and power boards. Sellers have appeared more than usually numerous in the market about the middle of January, and the sales then effected were generally of comparatively short-dated loans, i.e., maturing in the nineteen-forties, later loans expiring iv the nineteen-sixties changed hands, and there came a lull in mid-February, with renewed activity in March. This week, that is from Friday last, considerable business has been done in municipal loans, whereas the interest in Government loans has not been so keen as it was a week or two back. There is a consistent demand for them <ill, however, at firm and slightly rising prices, compared with quotations of a month ago. Sales of Government loans notified were as follows: — 4% p.c. Stock (1938), £97 10s; 5% p.c. Stock (1933), £99 ss: 5% p.c. Stock 1 (1932), £100; 5V 2 p.c. Bonds (1933), £99, £99 ss, £99. Local'body debentures and certain company debentures have good inquiry, and the following business has been reported: 5>,~ p.c. Auckland City (1960), £90 10s; 5% p.c. Auckland Harbour Board (1960), ! ' £06 10s; s?i p.c. Waitemata County I ' (1903), £97 10s; 5% p.c Eiccarton BorI " ough (1935), £07 ss; 5% p.c. Mount Eosi ; kill Borough (I960), '£98; 5% p.c. Mount ■ ' Eden Borough (19G0), £98. In the Wellington market the company asked for included Wellington Racing Club and Wellington Gas Company. There were sales as follows: — S p.c. Wellington Racing Club, £103. BANK SHARES. Considerable business has passed in Bank of New Zealand and Union Bank shares, and the former's year closed 31st March. National Bank of New Zealand had buyers at £4 18s 6d, advanced to £5, but £5 5s was wanted by holders. Australian Bank of Commerce were to be bought at 16s 3d to 16s 6d, and Commercial Banking Company, of Sydney, at £16 10s, but there were no bids. The sales of bank shares for this week were as fol- ; lows:- ---'^ Bank of New Zealand, 4fls Cd, 49., 9d, ; 49s' 6d, 49s 9d, 50s, 51s, 50s 2d, and D I shares 26s 6d; Bank New South AVales, £27, £26 15s; Bank of Australasia, £10; Union Bank, £8 10s, £S lls, £8 10s, £8 Bs, £8 10s, £S 9s 6d, £8 10s, £8 10s 6d; Commercial Bank of Australia, 14s lid, 14s Od; E.S. and A. Bank, £5 5s 9d, £5 5s Gd. . . ■ Insurance company shares were only Moderately dealt, in, and the sales reportled were as follows:— - New Zealand Insurance, 41s 6d, 41s 9d; , South British, 54s Cd; National, 13s Id, 13s. Financial and pastoral companies' shares were neglected, but for Goldsbrough, Mort's £1 was offered'in vain, holders not quoting, others were sellers. Business done jvas as follows:— Dalgety and Co., £7 10s; New Zealand Guarantee Corporation (Bs, cum div.), 6s 4d, 6s. . t INDUSTRIAL AND OTHERS. Coal mining shares were ignored, but ' Ihero were sales as follow:— Eonown Collieries preference, 2s 6d. Gas shares were quiet with buyers of Cliristchurch at 24s 3d to 24s Gd; Wellington ordinary at""26s and preference at 15s bd. Sales were recorded as follow:— Auckland Gas paid, 23s 3d, 23s 4d, 23s 3d. Shipping shares were unwanted, although P. and O. deferred were inquired for at 32s 6d, with no disclosed sellers. Sales were as follow:— Dcvonport Ferry, 21s. Meat shares wanted were Gears at 28s fid, no sellers, with a brisk turnover in [ iNew Zealand Refrigerating as follow:— f New Zealand .Refrigerating (£1), Us I od; New Zealand Refrigerating (10s), 3s F ' fid, 3s sd, 3s 4d, 2s lid, 2s 7d. 2s Bd, 2s \ ; Od, 2s lOd, 2s lid. New Zealand Brewery shares figured yrcll in the sales. There were inquiries for Staples at'34s to 33s 6d, sellers 37s 6d. Sales were effected as follow:— - New Zealand Breweries, 35s 3d, 35s 6d, 35s 3d, 35s sd, 35s Bd, 35s 9d, 35s 10% d, 35s 3d, 365, 36s 3d, 35s sd, 36s (id, 36s 7d. Tooth's Brewery, 20s 7d, 20s 9d, 20s 7d, 20s lid. ; •' MISCELLANEOUS. "Very little business passed in the miscellaneous section. Inquiries were made for Burns, Philps at 30s; New Zealand Drug..at 53s Id; :Whitcombe and Tombs at 51s; New Zealand, Paper Mills at 16s; Wilson's Cement at 39s 3d; Howard Smiths at 55.. Sales were reported.as follow: : British Tobacco (ox div.), 29s lid, 30s Id, 30s, 30s 3d; Colonial Sugar, £31, £31 ss; Robinson Ice Cream, Auckland, 21s. Oil shares had inquiry. Blenheim had sellers at 455, no buyers. Sales were as follow:— Moturoa. 3s 3d; Taranaki (N.Z.) Oil Fields, Is, Is 2d. ', MINING. A fair amount of attention was paid to mining shares, the following sales being Notified: — Waihi, 15s sd, 13s 6d, 15s sd; Waihi Grand Junction, 253.% d, 2s 4d; Mt. Lyoll, 19s Cd, 19s 9d, 19s 7d, 19s Bd, 20s, 20s 3d; King Solomon Mine, Is 10% d, Is Od, Is B%d, Is 8d; Okarito, 7s Cd, 7s ■ sd, 7s 2d; Mahakipawa, MM, OVsd, lOd, MHH lOd, WA, and (pref.) 9d.