STOCKS AND SHARES

Evening Post, Volume CXIV, Issue 103, 28 October 1932, Page 10

STOCKS AND SHARES

"SAFETY FIRST"

INVESTORS' ATTITUDE

Pnited Press Association—By Electric Telegraph—Copyright. ' /^SYDNEY, ;27th October. ■Turnover -on:-the. Sydney: Stock Exchange to-day was,', relatively light. The better sentiment for Commonwealth bonds is believed to be due to the altered viewpoint of the Premiers' ' Conference and the. cutting down of loan requirements to £8,000,000, which is regarded as less disturbing than £20,000,000. WeakBess continued in leading industrials, and there was also a sharp setback in Tooth's shares. Sales:—Bank of New South Wales, £32 15s; Commercial Banking Co. of Sydney, £17 ss; United Insurance, £9 ss; Australian Gas, A, £6 18s 6d; Tooth's, 35s IVA; Toohey's, 22s 4%d; Goldsbrough, Mort, 275; Dunlop-Perdriau, 18s; Henry Jones Co-op., 37s 3d; Australian Glass,. 475; Electrolytic Zinc (ord.), 18s 9d; ditto (pref.), ex dividend, 28s 7&d; Broken Hill Proprietary, 275; North Broken Hills, 73s 6d. Commonwealth Bonds, 4 per cent, 1938, £101 12s 6d; 1941, £101 16s 3d; 1944, £100 ss; 1947, £100 3s 9d; 1950, £100 10s; 1953, £100 17s 6d; 1955, £101; 1957, £101 Ss 9d; 1961, £100 3s 9d. MELBOURNE, 27th October. Stock Exchange sales to-day included:— Goldsbrough, Mort, 27s 3d; Australian Glass, 46s 6d; Dunlop-Perdriau, 18s; "Herald-Times." 575; Myers Emporium, 275; Howard Smith, 10s 3d; Mount Lyell, 23s 3d. "Evening Post," 2Sth October. Investors appear to be sensing a ''safety first" policy, with the result that the demand for Government debentures is active '■ and prices generally have advanced on the week. Such investments yield a return of well over oVz per cent., 'and they appear to be preferred above all others for the moment. It would be better for the economic welfare of the country were more attention paid to industrial enterprises than to investment in Government stocks and bonds and the piling up of savings on fixed deposit with the banks, but a change of view is not to be expected in face of the reported remark of 'the Prime Minister yesterday that the interests of the country came first; and if it was necessary to break contracts then they had to be broken. Confidence is likely to still halt hesitant on the threshold of industry. Races and Labour Day' holiday have curtailed business this week. Government loans in request include 4V> per cent. Stock (1941) at £95 ss, 5 1-8 per cent. Stock (1937) at £96 10s. Sales of Government debentures have been reported as follows:— *at 4% per cent. Stock (1938), ex interest, £97, and Bonds £94 15s; 4% per cent. Stock (1939),- ex interest, £94 17s 6d,' £94 12s 6d, and Bonds £94 15s; 5% per cent. Bonds (1933), £99 17s 6d; 5% per cent.. Stock (1936), £100 2s 6d, and Bonds £100 2s 6d; 5% per cent. Stock (February, 1937), £100; 5% per cent. Stock (September, 1937), £100, £100 2s 6d, £100 ss, £100, £100 ss, and Bonds, £100 2s 6d, £100, £100 2s 6d, £100 ss. Local body and company debentures having inquiry .Included 5% per cent. Wellington Harbour Board (1940) at £99 15s; 6 per cent. Auckland Harbour Board (1941) at £102; 5% per cent. Christehurch Drainage (1944) at £96; and 6% per cent. Gisborne Sheepfarmers (1941) at £71; C per cent. Wright Stephenson, 2nd Hen, perpetual, at £55; and 4% per cent. New Zealand Farmers (1945 and 1940), both at £46 10s. Sales of local body and other debentures have been reported as follows:— 5 per cent. City of Auckland (1936), £96 10s; 5% per cent. Central Power Board (1957), £95; 5M per cent. City of Auckland (1940), ' £98 10s; 5% per cent. Christehurch Drainage (1965), £97 15s; 5% per cent. Christehurch Trams (1944), £96; 6%. per cent. Wellington Gas (1941), £101. BANKS, INSURANCE, FINANCE. Bank shares were steady, with slight declines in Bank of New Zealand and Union Banks. Those of which no sales were reported and for which there were buyers included National of Australasia (£5), at £5 12s to £5 14s, and Bank of Australasia at £9 15s, sellers asking. £10 2s 6d. Sales were as follows:— Bank of New Zealand, 46s sd, 46s 3d, 465, 45s 9d, and D long-term shares, 29s 3d, i 295; National Bank of New Zealand, 81s, 81s 3d, 81s; Bank of New South Wales, ' £28 15s, £29, £29 ss, £28 17s 6d; Commercial Bank of Australia, 14s 9d, 14s Bd, 14s B%d, 14s 9d, 14s lOd, 14s 9d, and pref., £7 10s, £7 9s 6d; E.S. and A.' ' Bank, 935; Union Bank, £8 2s, £7 18s ' 6d, £7 18s 3d; Commercial Banking Co. of Sydney, £15. Insurance shares were in good demand. Queenslands were inquired for at 445. sellers quoting 48s. Sales were confined to local companies' shares, as follows:— New Zealand Insurance, 43s 6d, 43s 3d, 43s Bd, 43s 9d; Standard, 50s; South j British, 57s 9d, 58s; National, 14s 6d. • Financial and stock and station companies' shares attracted moderate attention. There were buyers of New Zealand and River Plates at 20s, and no sellers. New Zealand Loan and Mercantiles were offered at £59, but failed to elicit bids. Sales of financial companies' shares were as follows:— ■ Dalgety and Co., £8 15s, £8 13s 6d; Goldsbrough Mort, 24s 7d, 24s sd. 24s 4d 24s 3'M, 23s 6d, 23s 7d; New Zealand Guarantee Corporation (cum div.), 5s lid; Farmers' Auctioneering (B pref.), 13s. COAL, GAS, AND OTHERS. Coal mining shares wanted included Pukemiros at 23s 6d; Grey Valleys at 9s; and Taupiris at 10s; but holders quoted well above these bids. Gas shares had moderate inquiry and some business was reported. Shipping shares continued dull, but P. and O. deferreds were inquired for at 20s, and Union' Steam preference at the same price, or'6d higher. Huddart, Parkers ■were wanted at 27s to 27s 3d, holders quoting 295. Meat shares continued quiet, which is not to be wondered at in view of the market prospect 3as they appear at the moment. Breweries were also quiet, but'there were buyers of'Carltons at 325, sellers quoting 335. A little business was done in brewery investments. Woollen shares in demand included Mosgiels at £6 to £6 15s, with no response from holders. Kaiapois had buyers at 4s 6d for the 17s paid and 5s for preference shares. Sales in the sections referred to were notified as follows:— Westport Coal,' 12s 9d; WestportStoekton (pref.) Is 7d, and (ord.), 6d. Wellington Gas (ord.), 30s; and'(pref.), 18s; Christchureh Gas, 24s 6d 24s 9dAuckland Gas, 21s 2d; and icontrib.)' 15s 2d. : ■: Devonport Ferry, 18s. New Zealand Refrigerating (10s), 3s, .3s 2d, 3s, 3s Id, 3s, 2s lid? 2s 6d. New Zealand Breweries, 28s; Staples Brewery, 25s 9d; Tooth's Brewery, 32s 9d, 32s 3d. Wellington Woollen (ord.), £5 ss. INDUSTRIAL AND GENERAL. # Interest in timber shares showed a slight improvement. In the miscellaneous section there were inquiries for Amalgamated Wireless at 18s; Burns, Philps at 435; Dun-lop-Perdriau at los; Woolworths (N.Z ) (pref.) at 265, with sellers at 27s 3d to 27s 6d. Sales were reported as follows:— Kauri Timber, 12s 3d; Leyland-O'Brien Timber, 19s 9d, 19s 8d;. Australian Glass (cum div), 40s 6d, 40s 9d; British Tobacco 32s 3d, 32s 6d; Colonial Sugar, £50, £50 os, £50, £49 15s, £49 10s, £49 15s; Electrolytic Zinc (pref., cum div.), 26s 7d; Milne and Choyce debentures, 13s 3d; Whitcombe and Tombs, 555; Wilson's Cement, 31s, 31s 3d, 31s, 31s 6d.

Stock (1936) 5% a Stock (Feb., 1937) g% a Stock (Sept. 1937) 5%a Stock (1938) 4'M Stock (1939) 4%f Bonds (Sept., 1937) 5V-i\ Bonds (1933)- ,Wa Bonds (1036) ....:...... 5%Y Bonds (1938) .' 4M>f Bonds (1939) ...•.....:...:. 4%t Local Bodies and Company DebenturesCity of Auckland (1940) 5% City of Auckland (1936) 5 Christchurcli Trams (1944) 5% Christclmrch Drainage (1965) .... 5% Central Power Board (1957) "5% • Wellington Gas' (1941) 6% BanksBank of New Zealand 14 1-3 Bank of New Zealand "D" 7% Bank of New South Wales Sr Commercial of Australia 5 Commercial of Australia (pref.) .. 4 Commercial of Sydney 5% E.S. and A 8r National of New Zealand 7 Union of Aust. 4 Breweries— * N.Z. Breweries 8 Staples , -. 8%r Tooth's « Coal— Westport' 8% Westport-Stockton (ord.) — Westport-Stockton (pivef.) — Finance and Pastoral— ' Dalgety 7 Goldsbrough, Morfc 2% N.Z. Guarantee Corp *5 5-24 Farmers' Auction. (B pref.) .... 6 GasAuckland (contrib.) 7r Auckland (ord.) 7r Christchurcli (ord.) 7r Wellington (ord.) 8 Wellington (pref.) 5 InsuranceNational '... 10 5-7 New Zealand .......'...• 10 South British J. 13 1-3 Standard 12% MeatN.Z. Refrigerating (10s) 5 Mining and OilAlexander (contrib.) 10 Blackwater ; 7% Okarito 10 Waihi G.AI. , *40 Shipping— Devonport Ferry 5 Timber— Kauri (25s) ■— Leyland O'Brien 5 Woollen— Wellington (ord.) 6 MiscellaneousAustralian Glass *"% British Tobacco : 8r Colonial Sugar 12% Electrolytic Zinc (pref.) *8 ■ Milne and Choice debentures 3 Mount Lyell 5p Whitcombe and Tombs (contrib.) 8 Wilson's Cement 10 —Cum. dir. r.—Interim div. reduced, price includes accrued interest, less 10 t—Ex interest or dividend.