STOCKS AND SHARES

Evening Post, Volume CXII, Issue 123, 20 November 1931, Page 12

STOCKS AND SHARES

MARKET IMPROVING

A WEEK'S BUSINESS

"Evening Post," 20th November

There is a healthier tone about the Dominion investment market to-day than there has been for some months past. Prices in many investments, but particularly of bank shares, have shown a hardening tendency. Notwithstanding the "eating into" dividends' before and after they are received by taxation in' Australia and New Zealand, signs are not wanting in the market of returning confidence of both buyers and sellers in the future values of certain shares of a semi-, gilt-edged character.. This better feeling: is also shown in the Australian investment markets. Some slackness in business, however, is to be expected on the approach of the holiday season, but these is yet a full month to go before Christmas, and the wool sales, with their present bright prospects, to come between. In the Government loan market there were'unfilled orders for the following debentures:—4% p.c. Stock (1938 and 1939) at £95 10s to £95 Jss. Others were sellers, and actual business passing was reported aa follows:—

4% p.c. Bonda (1935), £0(5; 5V 2 P-c. Stock (1937), £99, £09 3s, £99, £98 15s, £09 ss, £99, £99 2s Cd, and Bonds (1937), £99 10s, £99 ss, £09, £99 2s 6d, £99 15s, £99 2s 6tl, £98; 5% p.c. Stock (1933), £99, £98 17s 6d, £99, and Bonds (1933), £98 17s 6d; 5 1-8 p.c. Bonds (1937), £94. Local authorities' debentures continue to attract attention of investors, evidently in some instances for lock-up pui roses, but buyers have a fairly wide range to select from. Those in demand include o'A p.c. Auckland City (1944) at £9G 15s; 5% P.c. Wellington City (1944), £9/; 5% p.c. Christchurch City 0944) £06 ISj; 516 p.o "Wellington Harbour Board (1940), £97 355; 6 p.c. Auckland Harbour Board (1941), £100; 4 p.c. Auckland Harbour Board (1936), £02; 5% p.c. Christohurch Drainage (1965 and 1973), at £96 10s and rKScafb^l^sS'noS (1959) £100; 6 p.c. Waitemata. Council (1962 and 1958), eacli £100. Company debentures having inquiry ■were 5 and 0% p.c. Auckland Gas (103Tnd 1933)! at £97 10* and £100 respectively- New Zealand Breweries were wanted at 20. M, bo sellers. Other debentures were generally quoted by sellers. Sales ■were as follows:— 6% p.c. Gisborne Shcepfanners (1911),

■ > '■..■.■■■■ ■ ■ ■ BANKS, INSURANCE, FINANCE. Bank shares were in. goodd^d a"d generally at ris rig prices on the veek. Commercial Banking Co of Sydney were c/n offer at £15 10s, and buyers early m thewei bid up to £14 15s, but so far as were reported as follows:- . Bank N.Z.,* 49. 6d, «<• Bd, 49s 9d ami A 6BaS.9>6d, ™, 8k M; Com£29 10s, £29 ss, £29,^ 29.ss; National Bank of Australasia (£S)V £5 2s 6d, £5 2s, £5 3s 6d, £5 Is, £5, 98s. Insurance *a*es .had; a + mdy market with bids for Standards at 42s 6d tcr43s 6d. The sales reported -were as follows.— New Zealand Insurance, 40s, 39s 9d; South British, 545, 54s 3d; NaUonal, 13s Id; Queensland, 345. Stock and station,, and^financial ,com : panics' shares have-been _infair■ demand and among them were Wellington Tiust Loan, £6; Abraham and Williams (pref.), 70s- Farmers'- Auctioneering, 40s; Loan and Mercantile (ord.), £48 to £50; New Zealand Guarantee Corporation (pref.), 20s; and New Zealand and River Plate, 20s. Sales were as follows:— Dalgety*, £7 12s 6d, £7 12s, £7 13s, £7 14b, £7 19s; Goldsbrough Mori., 23s 6d 24s 235, 10d, 22s 9d, 23s 2d, 23s 3d, 22a lid 235, 22s lid, 22s Bd, 22s 6d 22s' Si, 22s id, 235, 23s Id, 22s id, 235: Dominion Investment and Banking, ISs; New Zealand Guarantee Corporation (8s), 5s lOd, 5s lid. INDUSTRIAL AND OTHERS. Business in other sections of the market lias been widespread, with a noticeable keener interest on the part of investors. Coal shares were very quiet, however. Pukemiros had inquiry at 30s, but with no sellers. The business reported was as follows: — Westport, 24s 6d; Taupiri, 18s. ■ ' Gas shares were neglected. Wellington (ord.) were wanted at 26s 3d, no sellers; Auckland (ord.) had buyers at 23s 3d, and no sellers. Sales were as follows:—

Auckland (cont.), 17s; Christchurch,

255, 25s Id. ;. Shipping shares had halfhearted incuiry, Dut there were buyers of P. and O. deferred, cum. div., at 26s 6d to 275; Union Steam Ship (pref.), at 20s; Devonport Ferry at 16s. Sales were as follows: — • Huddart-Parker (pref.),. 16s ■ Gd.

Woollen shares were quiet. There were buyers of Wellington (ord.) at 82s od, and (pref.). at 47s 6d, no..sellers. Sales were reported as follows: —

Kaiapoi, 6s.

Meat shares attracted but little attention' and considering the outlook for the meat export trade of 1931-32 this is not surprising. Gears were wanted at 255, as last week, with no disclosed sellers. Canterburys had inquiry at 68s 6d for ordinary and 60s for preference, but sellers did not quote. The £1 shares of New Zealand Refrigerating could have been bought for 11s sd, buyers stopping at 10s 9d. Sales were as follows:— New Zealand Refrigerating (10s), 4s 9d, 4s:Bd, 4s 6d. BREWERY AND VARIOUS. Brewery shares only mildly interested investors. , Staples had buyers at 27s 9d, sellers quoting 28s 6d to 295. Sales were as follows:— . New. Zealand Breweries, 33s 3d, 33s Cd, 345, 33s ;lOd;'33s'Bd, 33s I<\, 33s 3d; ■Tooths,:49s 7d,.1951d, 19s, 19s 2d, 19s 6d. Sales V.in. the miscellaneous division were fairly brisk.,. Among., the shares bid for were Burns Philps- (ex div.), at 30s 6d,. sellers 33s 3d; Wilson's Cement (cum. div.), at 35s 4d; New Zealand Paper Mills (cum div.), at 18s; Amalgamated Wireless, j 12s 6d, no sellers; C. M. Banks, ss, sellers | 11s; Queen's Theatre (cum div.), 20s, no ■ sellers; Australian Steel (pref.), 8s 9d, no | sellers. New Zealand Drug, buyers 48s 3d to 49s'6d, no sellers. Sales were as fol-j lows: — !

British Tobacco, 23s Cd, 24s Id, 245, 24s 6d; Dunlop-Perdriau, 10s 9d; D.I.C. (pref.), 20s; Colonial Sugar, £.37, £36 ss; Electro Zinc (pref.), 19s 10^d, 18s 6d, 18s lid; • Farmers' Trading, $*, 2d; Farmers' Trading (B pref.), 12s 6d; Milne and Choyce debentures, 18s; Robinson'- Ice Cream, 17s; Woolworths (N.Z.) ,(pref.), 24s 9d; Sharland, 14s 6d, 15s, 15s Id," 15s. *Cum dividend.

LOAN AND MERCANTILE

(Received 20th November, 12.15 p.m.)

LONDON, 19th November.

The New Zealand Loan and Mercantile Agency Company will have available, after transfer of £155,000 from reserves and payment of interest on debentures, the sum of £6535. This sum, together with £12,462 from last year, will be carried forward.

GOLDEN TERRACE EXTENDED,

Golden Terrace Extended reports <i wash-up of 39 ounces for 157 hours' dredging.