STOCKS AND SHARES

Evening Post, Volume CXII, Issue 9, 10 July 1931, Page 10

STOCKS AND SHARES

THE GILT-EDGE MARKET

SALES OF THE WEEK

"Evening Post,-*' 10th July. Investors have, shown butt little interest in the market during the past week apart from, the gilt-edged section and bank shares. There has been gneat activity in the market for shares in I certain South Island dredging and mining ventures. Inquiries for Government and. local authority loans appear to.be good. For 5Yi per cent. Government Bonds (11H1) there were bids of £95 17s 6d, and 5 1-8 per cent. Bonds (1937) were wanted ;at £96 ss, with no sellers. Sales o£ Government debentures reported during the week were as follows:— 4% per cent. Stock (If 138);'.£07 17s 6d, £98, and Bonds, £98; ihfs per cent. Stock (1939), £98; 5% per ceftt. Stock (1936), £99 ss; 5% per cent. Btonds (1933), £99 ss; 5% per cent. Stock 1(1951), £99. Local body loans in demand during the ■week but in which no ac'twal business was reported included 5% pchv cent. Wellington Hospital .Board (193^), £98; 5V 2 per cent. Wellington City (1M0), £97 ss; 5% per cent. Auckland City C11>44), £97 ss; 5% per cent. Christchurch i Drainage Board ' (1938-73), £99 10s. Tlip sales of local authority debentures notified during the week were as follows: — , 5% per cent. Wellington City (1944), £94 10s; 6 per cent. .'Thames Harbour Board (1944), £100; s\k. -per cent. Christchurch Tramways BoaM (1944), £96 ss; 5% per cent. Otagoi.'Harbour Board (1938), principal and interest' payable in London, £102; 5% piar ...cent. Franklin Power Board (1965), #93; 5% per cent. Auckland Transport ifctoard (1949), £93. Company debentures 'Tiad but little inquiry, but there were .'-orders to buy 6% per cent. Glaxos (1948J at £86, sellers wanting £91; 5 per ctejit. Auckland Gas (1932) were wanted tts £97, no sellers: Most other company , debentures were quoted by sellers onl^. Sales reported weire as follows:— i 6% per cent. Auckland Gas (1935), £101 10s; 8 per cent*' Mine and Choyce, ass cd. ■ ■■■..;• BANKS, INSURANCE, FINANCE. Bank' shares contiriae to change hands fairly frequently. Those in demand but of1, which no sales we we reported included the D long term mortgage issue of the Bank of New Zealanif- at 26s 3d to 26s 9d. The £s'paid shares pi the National Bank of Australia, were injcpiired for at £4 10s ■without business rei fulting so far as can be ascertained. Sliares of the. National Bank of New Zealand, cum. dividend, ■were quoted by sellers at 935, buyers offering 91s. Prices (for Union Banks fell on announcement ,<>£' reduced dividend. Sales.of bank sharps as notified were as - follows:— t' • Bank of New Zealand, 495, 48s lid, 48s 6d, 48s 3d, 495, i 48s 9d, 48s 6d, 48s lid, ' 48a 9d, 49s 3d,-48fJ,6d, 495, 48s 9d, 48s 6d, 48s 9d, 48s 6d; Uhion Bank, £7 18s,"'£7 " 15s, £7 18s, £7 355, £7 14s (cum. dividend), £7 10s, £p 8s 6d, £7 Bs, £7 12s, k £7.108, £7 6s c Australian Bank of -/Commerce, 14s 9 jl, 1457d,14s lid; Bank :of Australasia, :£9 15s, :£9 12s; Bank of New South Wai is, £25 12s 6d; E.S., and A. Bank, 86s; (J fteensland National Bank, 93a 6d; National Bank- of Australasia l(£10), £10s Ifl,- Commercial of Australia, 15s, 14s lM» 15s, Ws 5d.. • •insurance comrieiiy shares attracted but little attention, llut business was reported as follows:-—^ ';' . . . . ■;■ New Zealand<: Insurance, 41s'9d, cum. -div.) 425; Sou th British Insurance, 51s :6d;':National, 13s. .' / ; .. Financial and;."stock and station companies' ; shares pere in moderate demand, and- quotations ; were mainly those of sellers. Tran: jactions effeoted were as follows:— • ■ Dalgety an<J! Co., £6 12a 6d. £6 11s; - Goldsbrougb, Mort, 20s 7d, 20s 3d, 20s 2d; New Zerfand Guarantee (8s), os; United Builditng, 13s 6d. ■* COAL, GAS, AND OTHER SHARES.\ There is very* Jittle to report of business iii other secti bus of the <\ share < market. Westport Coal jr had inquiry at 21s, sellers* - 23s 6d.'- The ciia«l mine share sales were:— . ~ Taupiri, 2C*j 9d, ,20s Bd. Gas company shares wanted were Wellington ordinary at 26s 9d, and preference at 15s 6d, no tellers of .either. ~ Sales of gaa shares wei» as follows: — 'Auckland 23s 3d, Christchurch 255. Shipping sliares wanted were Union Steam prefer >nee at'l9s 9d to 19s lid; Huddart Par!ter ordinary, 20s, sellers 21s. So far as ca si be learned there were no .-- sellers 'of shi fcjping shares. . JMeat com] (any shares inquired for included Gears /at 255, holders not quoting. There, were Bales of meat shares as follows:— ,":.;'. : Now Zealknd Refrigerating (10s), 3s 4d, '3s 6d. '■„ ■ i ■- •;..-■,/ •Brewery si iares were in but moderate demand. To&th's were wanted at 16s 9d, sellers askin t 17s 9d. Timaru 5s shares were-to be .'fad for 6s 3d. Sales of brewery, shares ifcere as follows:— ■■ ; ■ New Zer iland Breweries, 35s 6d, 35s 3d, 355, 34s 9c U 34s lid, 355, 35s Id; Staples an i Co., :&s ,9d. . , . ' , -la the industrial and general sections, business'was; very.slow, but the following sales were ttftected:— : , British.'Biobacco, 25s 3d, 25s 6d;' By- -■ croft, Ltfli,* 27s 2d, 28s; Colonial Sugar, £34 10s1, S3 4 12s 6d, £35, £35 ss, £35; Farmers' TJading, 5s 6d and (A pref.), '15s 3d; LeWand, O'Brien Timber, 21s 9d; "Otago Dftily Times," 50s; Wilson's ■Cement, 3ifc*> 35s 3d,-355, 6d.