PRODUCE & MARKET REPORTS FROM DAY TO DAY STOCKS AND SHARES

Evening Post, Volume CXII, Issue 117, 13 November 1931, Page 10

PRODUCE & MARKET REPORTS FROM DAY TO DAY

STOCKS AND SHARES

AN ACTIVE MARKET

AUSTRALIAN SHARES IMPROVE

"Evening Post," 13th November. Business in the share market has been active during the week, but not over the whole of the list. Interest in Government Loans has been less keen than it was last month, and more attention has been paid by investors to shares in Australian banks and certain selected Australian companies, prices for which show an improvement over those of the last week or so. Government securities having inquiry and- prices offered include the iVz per cent, stock and bonds (1938 and 1939) at £94, sellers £96 10s to £97 ss. Sales reported have been as follows: — 5% per cent. Stock (1937), £99 10s, £99 7s (id, £99 10s, and bVz per cent. Bonds (1937), £99 7s 6d, £99 10s, £99 ss, £99 10s; 514 per cent. Stock (1933), £98 15s, £99, and 5% per cent. Bonds (1933), £99, £9S 17s 6d. Local body loans continue to attractinvestors and there were inquiries for City loans at the f olid wing prices: 5Ys per cent. Auckland (1944), £9(3 15s; SVa per cent. Ghristchureh (1944), £96 Ins; 5'A percent. Dunedin (1944), £97; OVi per cent. Wellington (1940), £97; OV2 per cent. Wellington Harbour Board (1940), had buyers at £97; 5Vi per cent, and 5% per cent. Auckland Harbour Board (1059 and 1940), at £93 and £08 respectively; also 6 per cent. (1941) at £101 10s. The 5Vs per cent., and 5% per cent, issues of Auckland Power Board (1945 and 1946) wero inquired for at £9S and £99 respectively. Sales of local body loans were notified as follows: — 5 per cent. Rural Advances (1947), £85; s'/4 per cent. Mount Eden Boro. (1964), £90; 5Vi per cent. Christchurch Drainage (1965), £97; 5& per cent. Auckland Harbour Board (1947), £93 10s; 5 per cent. Napier Boro (1944), £87; 6 per cent. Mount Albert Road • Board (1959), £100. Company debentures generally were in poor demand, but there were bids for the following:—6V4 per cent. Gisborne Sheepfanners (1941), £08; 10 per cent. New Zealand Breweries, 20s 6d; 5 per cent, and 6M per cent. Auckland Gas (1932 and 1935), at £97 and £100 in that order; &V 2 per cent. New Zealand Farmers' Co-op. (1940), £45. Others were quoted by sellers. No. sales have been reported. BANKS, INSURANCE, FINANCE. Bank shares had considerable inquiry at generally advancing prices, and most of ■those regularly quoted in the lists changed hands. Inquiries were. made for Australian Bank of Commerce at 15s 4d, sellers wanting 18s lOd. The £10 shares of the National Bank of Australasia were in demand at £10 to £10'7s 6d, the preference shares of the .Commercial Bank of Australia had buyers at £6 to £0 2s 6rl, selbrs £6 6s. Sales-of bank shares reported during (he week were as follows:— Bank of New Zealand (cum. div.), 4Sa 6d, 48s 9d, 495, 49s 3d, 49s 2d, 50s, 49s 6d, and Bank of New Zealand D longterm (cum. div.), 26s 0d; National Bank of New Zealand, 91s 6d, 925, 935; Union Bank, £8, £7 19s 6d; Bank of Australasia, £9 12s 6d; Bank of New South Wales, £2S 15s, £29; Commercial of Australia, ]6s 3d, 10s Id, 16s, 16s Id, 16s 4d, 17s, 17s 2d, 16s lOd, 16s lid, 16s JOel, 10s lid, 17s, 16s 9d; E.S. and A. iila 6d, 91s, 925, 01s 6d, 945; Commercial Banking of Sydney, £13 las 6d, £15 3s 6d: National Bank of Australasia (£5), £4 19s 6d, £5, £5 2s Cd, £5 2s. --...-. Insurance company shares were rather quiet, but buyers were prepared to pay 41s to 43s for Standards, but there were no sellers; Queenslands were wanted at 32s -6d to 33s 6d, holders not quoting. Sales were as follows: — New Zealand Insurance, 40s, 39s jOMd; South British. 53s 9d, 545, 54s 3d; National (cum. div.), 12s Od, 13s-, 13s Id. Some financial and pastoral companies' shares were in good demand, notably Goldsbrouglx Morts, Abraham and Williams preference were wanted at 70s, with no sellers; Farmers' Auctioneering were in some demand, bids being 40s for ordinary, 13s 6d for A pref.. arid 12s for B pref; New Zealand and River Plate Land were wanted- at 20s. Sales were as follows:— Dalgety ' (cum. div.), £7 6s, £7 ss; Loan and' Mercantile (ord.), £55; Dominion Investment and Banking, Auckland, 18s;"G6ldsbrougb, Mort, 23s Bd, 23s 7d, 23s 6d, 23s 7d, 23s 9d, 245, 23s 10% d, 245,' 24s- 6d, 24s lOd, 255, 24s fld, 24s Bd, 2Ssv24s, 23s lOd, 23s 6d; New Zealand' 'Guarantee Corporation (Ss), 5s 8d; 3s 9d; 5s lid. COAL AND INDUSTRIALS. Coal mine 6hares were not keenly competed for, but -Pukemiros had buyers at 303, and Taupiri preference were wanted at 21s, all. others were sellers. Westports will pay .3. final .dividend of 3d, also a bonus, of. Is taken from the insurance fund,. making a total distribution for the year of Is 9d per share. Sales of coal shares .-were confined to the issue of, that company, and were as follows:— Westport Coal, 22s lid, 235, 23s Id, 235, 23s 3d,235, 4%d. • . Gas-shares had-improved inquiry. Buyers offered 26s 6d for the Wellington Company's ordinary issue, with no response from holders. Business done in gas shares was -as follows:— . . . Auckland Gas, 23s 3d, 23s 4d, 23s sd, and (contrib.), 17s 2d; Christchurch ' (10s), 12s (odd lot). . Shipping shares were'quiet, but there were bids for P. and O. deferred cum dividend at 26s to 28s, and for Union Steam preference at 20s, but sellers were silent. Business done in shipping shares was as follows:I—' ' Huddart-Parker ordinary, 22s 6d; Northern Steamship (paid up), 7s. Meat company shares were quiet in keeping with the overseas meat markets and the still low prices for wool and other by-pro-ducts of tW freezing industry. The shares of the Gear Company were inquired for at 255, but there were no disclosed sellers. The sales of the. .week were confined to shares in one company, ns follows: — New Zealand Refrigerating (10s), 4s Ud, 4s lOd. ; Breweries came in for some attention. Toobeys were wanted at 14s, sellers asking 17s 6d; Carltons had buyers at 25s but no sellers; Staples and Co. were wanted at 27s 9d, holders quoting 29s to 31s 6d: and Timarus (7s 6d) were bid for at 4s 6d, with no sellers. Sales were as follows: — New Zealand Breweries, 82» (id, 32s 7d, 32s 6d, 32s 9d. 335, 33s Od, 33s Sd; Tooths, 20s, 19s lid, 21s, 21s 1%d,.20s 6d. Timber shares were neglected, but buyers were prepared to trke up Nationals at ss. There were sales as under: — Kauri Timber, 10s. Woollen company shares inquired for were: Wellington (ordinary), SOs to 82s 6d, and 82s 6d to 86s, with no sellers. MISCELLANEOUS. A good turnover in the miscellaneous section was experienced during the week, with some advances to be noted. Business was as follows:— Australian Glass, 263 lOd, 28s 3d; British Tobacco, 265, 26s Id, 25s lid; Colqnial Sugar, £35 10s, £35 ss, £3(3, £36 to £30 15s. £30 10s, £00 luc. £37! Electrolytic Zincs fpret1.), 17s 2d. 17s 3d. 17s Sd, 17s 7d, 2ih, 19s lOd; Farmers' Trading, (is, 6s 2d, and B pref. 11s Orl, 12s 6<l: Milne and Choyce debentures, ISs; Robinson Ice Cream, 375; Sharland and Co., 14s fid; Woolworth (pref.), 21s Gd, 255, 24s