STOCKS AND SHARES

Evening Post, Volume CXII, Issue 105, 30 October 1931, Page 10

STOCKS AND SHARES

BRIGHTENS

ADVANCING PRICES

LONDON, 28th October. ; ,The. Stock Exchange opened buoyantly, prices being marked up all round. SYDNEY, 29th October. Reflecting confidence in the result of the British elections, prices on the Sydney and Melbourne Stock Exchanges again moved lip(decisively, to-day. The gains were wide; spread, and the'market was stronger than for two years past. The turnover was of such large dimensions.that the Sales Board was unable to accommodate the records of all transactions in Sydney. - ; "Evening Post," 30th October.Values of bank shares and of investments generally showed a marked advance on'all New Zealand exchanges at the end of this week immediately the results of the British elections were known. Time alone will show whether the improvements in prices will be maintained. Other investments, and particularly industrials,-have considerable leeway to make up. Dominion tiiia-' tien, already very heavy, is not expected to be lighter during the nest twelve or eighteen months, and there are no indications at present of necessary advances in the wool and other primary product mar- " kets to provide for a fair margin of profit over cost, or in gome cases; to meet; the actual cost of production. Gilt-edged investments have had fair inquiry, and moderate business has been done. Apart from those of which sales have, been reported as under there were bids of £84 15s for 5 per cent. Rural Advances' (1937), sellers quoting £87. Sales of. Government debentures were reported as fol- . lows:-^ :\.;.j..:;.'..: .:.'... V -.' . •....., 4% per cent. Stock (1032), £09 12s 6d; 4% per cent. Stock (1937), £09 15s; 4% per "cent* Stock (1938), £97, and B6ndV'£96"l2ir6d; 4% per cent. Stock "(TO89)/'.£98 lOsj-5%- per -cent. Stock (1933k'.'£«9-Ktet and Bonds £99 155;5% • per cent. Stock (1936); £99 ss, £99 15s, .' £09 12s 6d, and Bonds. £99 15s; 5% per ' ;• cent. Stock. (IS*37), £99 15s, £Q9'7s.6a, ...-.::.£99-15s v and -Bonds £99 15s, £99 10s; 5% per cent. Stock (1933), £97 10s, and Bonds £97 10s. Local authorities loans for which there was a demand, included '5% pcr1 cent. fPalmersto'n North City (IMBV £Wjl&; 9Vj per- cent. Auckland City ,(1944), £96 15sf 5% per cent. Wellington City (1940), £97, £97 ss; 5% per cent. Dunedin City (1944),(, £97; 5% percent. Christchurch City (1944), ,£96 15s; 5%-per cent. :Wellington Harbour Board (1940), £97, £97 ss. Sales of local body loans we're notified as follows:— 5%' per cent. Whangarei Borough (1961), .£96; 5% per cent. Mount Eden Borough (1964),'£91; 5% per cent. Mount Eden borough (1937), £99 10s; 5% per cent. ChTistchurch Drainage (1973), £99 ss. ' t . . ■ ■ - ' • Company debentures quoted in the lists were mostly at sellers' prices. There were bids of' £100 for 6% per cent. Wellington' Gas Company (1931); of £44ior 6% per cent. Stock of New Zealand Farmers' Coop., Christchufch (1940 and 1945); Wellington Amalgamated Brick, £65, sellers £75; 5 and 6% per cent. Auckland Gas (1932 and 1935), £97 and £100 respectively; 6% per cent. Gisborne Sheepfarmers (1941), £67; 10 per -cent. New Zealand Breweries, 20.s 6d. Sales were reported as follows:— 6% per cent. Booth, Mac Donald (1932), ■.£6O,■ . ' , ' .:'.:.•:;■>■;■'• r.v". BANKS, INSURANCfe, FINANCE.^Bank shares were: market,:-at ■ the end of the week, with unsatisfied demands for Australian Bank of Commerce at 14s 6d; National 6ft Australia (£5) cum. dividend at 955; and Bank of Adelaide cum.-divi: at!7os; Bank of New Zealand D ;sii?res,-iit ,25s 'Od' to 265. Sales of'bank 'snares.'were1 reported as, follows:— V" - Baiik'of New Zealand, '445, 44s 9d, 45s "IKi; 47s 9d;"47« 6d; iSs 3d; National Bank New Zealand, 78s, 80s; Bank of.New South Wales, £25 10s, £25 os, £25 15s, £25 17s 6d, £.25.155,. £26 10s; Bank'of Australasia, £8 10s, £8 9s 3d, £8 15s, j_£& 10s.j-.Cammereial:Bank-of Australia (pref.), £6 Is, £6, £6 Is 6d; Commer- - Dial Bank .of Australia, .14s. 4d, 14s 4%d 14s ' "~4d, 14s 7d, 14s 10d,-14s 9d, 14s lid, 15s 2d, los-7d, 15s Bd, ISs 9d. 15s lOd, 15s lid, . 16s;; E.S. .and.A. Bank, 87s 6d, 89s 6d, "'9os -90s 3d, 89s, 93s 6d, 935, 90s, 88s, 90s •V'6d,-90s;,Union Bank,-£7 2s 6d, £8, £7 v-i9s'6dr£7l9s, '£7- 19s 6d, £8, £8 3s. Insurance companies' shares were very quiet",'with inquiries for South British at •50s 3d to 50s 6d; Queensland at 32s 6d, with sellers, quoting 37s 6d; Standards 435, no sellers...Sales were as under:— ; ; New "Zealand .Insurance, 38s 9d, 395; National Insurance, 12s 3d. Only a moderate business was. reported in the financial and stock and station section, but improved inquiry for . Golflsbrpugh Morts. Abraham and Williams preference were wanted at 65s to 70s, no sellere;. New Zealand Goarantee Corporation preference were inquired for at 20s. National had buyers at 295; Loan and Mercantile ordinary wanted at" £40 to £45, sellera £55, and £42 was Coffered for the preference issue of this company;.. Sales were as follows:— Gbldsbrough Mort, 21s 6d, 225, 22s Id, 22s 4d, 22s 3d, 22s lid, 22s 4d, 22s 6d, 235; Doniirilbh Investment and Banking, 17s; Dalgety and Co., £7 2s 6d, £7 2s. INDUSTRIES AND OTHERS. Coal .mining 'shares had but little inquiry.' • Pukemixos were in request at 28s 6d,- sellers', silent.. Kaitangatas had buyers-at ss. Hikurangi Coal Co. debenture: holders-, have decided that no action should be taken meantime, but that a further meeting should be held in April, 1932;'H0-consider the"position. 'The sale of' coal"; mining -Shares reported were::-as. follow?.^ --, ■.:...-■' Westport, 235, 22s 9d; Taupiri (ord.), 18b.. \ ■ •:. • . . : ." Gas Hhares were in poor demand, but 26s 6d' was bid for Wellington ordinary, with no respdnse from holders. Christchurch were asked for at 24s 6d to 24s ■-—1)d,- 'but no business was reported. Sales were as follows:— Auckland ordinary, 23s 3d, and contributing 16s lid. -Shipping shares elicited but little inciuixy. However, Huddart Parkers avere ■wanted at 20s 6d, holders not quoting, Union Steam Ship preference had buyers at 19s lOd, no sellers. Sales were as follows:— P. and O. Deferred, 27p, v27s 3d. Tjmber shares were very slack, but bids of 8s 6d were made for Kauris and of,ss for Nationals. Sales were reported as follows: — .Bartholomew Timber, 13s Gd. , -Brewery, shares had increasing inquiry. C»rltonß (cum. div.) were asked for at 22S'. 6d, Fosters (cum. div.) at 30s, Dunedin 15b, Timaru 19s; with no sellera. Sales were as follows: — New Zealand Breweries, 31s 6d, 32s Bd, 32a lOd, 335, 33s 6d, 33s 9d; 33s sd, 33a 6d, 33s sd, 33a 3d, 33s 6d; Staples, 27s 9d; Tooths, 19s Id, 19s, 20s. ,'Meat ■'shares attracted some attention with inquiries for Canterbury ordinary at 605," and no sellers, but holdeis of the preference issue of this company quoted £!i. Gears were wanted at 24s to 2js, holders remaining silent. Sales were lepoited as follows:— N.Z. Refrigerating (10s), 3s lid, 4s, 4s Id, 4s, 4s Id, 4s 2d, 4s 3d; N.Z. Re- .': frigerating (£1), 10s lOd, 10s, 10s lOd. First Call This Day.—Sales on 'Change: Goldsbrough, Mort., 235; Commercial Bank of Australia, 16s 3d. i Late Sales, Yesterday.—Union Bank, £8 3s; Wellington Woollen (ord.), 82s 6d; New Zealand Breweries, 33s 6d, 33s 9d; Wilson's Cement, 35s 7d: King Solomon, 2a, sd. .