STOCK PRICES

Evening Post, Volume CXV, Issue 40, 17 February 1933, Page 10

STOCK PRICES

RETURNS STILL HIGH

FAIR BUSINESS

"Evening Post," February 17. ■ At present prices, the market for Government stocks continues to be more favourable for an investor to buy in than for a Government to borrow in. Stocks . are still showing a return nearer 6 per centj than 5 per cent., and in some cases over 6 per cent. 'During the week there was considerable business in 5% per cent. Government bonds (September; 1937), and the Stock Exchange reports up to the time of going to press yesterday indicated the following sales:—£lol 2s 6d on Feb-ruary-9, at Wellington, followed nest day by two in Wellington (£lOl ss) and one in Auckland (£IOO 10s), then £101 (Auck>land)i £101 2s Cd (Dunedin), £101 (Auckland), £100 17s 6d (Auckland). £101 (Auckland), £101 (Dunedin), £101 2s 6d . (Christcburch). At £101 2s 6d, the figure on which the sales of this stock started andended, the return is £5 16s 3d. The 5%r percent. Government stock (February; 1937) was again in demand, sales being made in all centres save Dunedin, at. £100 15s, £101, then (ex. dividend) at £98 7s 6d, £98 ss, £98 10s, and £98 7s 6d; at ihe lowest of these figures, £98 ss, the return is £6 0s Bd. There were five sales of the 5% per cent. Government stock (September, 1937), one at £101 ss, one at £100 15s, and three at £101. The 4% per cent. Government stock (1938) had . seven sales at £96 and three at £96 ss; at £96 the return is £5 12s. ' Three Bales at* £96 occurred in 4% per cent. Government bonds (1938). The 4% per cent. Government stock f 1939) sold twice at £96. The 5% per cent. Government stock (1937) sold twice in Auckland at £96 12s 6d, and the 5% per cent, stock (1936) sold twice in Wellington at £98 15s. Other sales of Government stocks : recorded were: S per cent., 1937, £95 10s; 5% per cent.. 1934, £98.. A little more business was done in local bodies' and company debentures than in the preceding week; 5% per cent. Auck- , land Power Board (1946) sold at £99, 5% per.cent. Waimakariri River Board (1976) at £98 15s, 4% per cent.. New Zealand Farmers' Co-operative (1940)' at £42 10s . (two sales),. 5%. per. cent. Christchureh Drainage Board (1938-73) at- £99 10s, 5% per cent. Auckland City Council (1949) at £97 10s, 5% per cent. Auckland Transport Board (1949) at £98. Bank of New Zealand opened the week with the following .gales in Wellington:— £2 4s 6d, £2 4s 9d, £2 4s 6d, £2 4s 7d, £2 4s 3d, £2 4s 3d, £2 4s 4%d, £2 4s 4d, £2 4s 3d (two). Then on the 14th came an Auckland sale at £2 4s 6d, then five Christchureh sales ranging from £2 4s Id to £2 4s 6d; yesterday there were a Wellington sale at £2 4s 3d, Auckland sale .£2 4s, Chistchurch sale£2 3s lid. Bank of New Zealand D shares had sales at £1 9s 4^d and £1 9s 3d. Bank o£ New South Wales sold at Auckland on February 10 at £28 12s 6d, and were then sold in Christchurch (cum. dividend) at £28 17s 6d, £29, and £28 17s 6d (two); sales followed at £28 17s Cd, £28 10s, and £28 15s. Commercial Bank of Australia ordinary sold seven times at 14s 7d, four times at 14s Bd,. once at 14s-9d; preference at £7 17s and £7 17s 6d.' National Bank of New Zealand sold'at £3 11s (twice), £3 lls 6d, and £3 12s. Bank of Australasia sold twice at £9/ 15s, E.S. and A: Bank once at £4 10s 6d, National Bank of Australasia (£5 paid) once at £5 12s 6d • arid '£5 12s; ■ . ■ New Zealand Breweries sold ten. times at •, fronv£l 7s to £1 7s 6d, and sold yesterday in Christchureh at £1 6s lid; they . were quoted yesterday in Wellington at buyers £1 6s 9d, sellers £1 7s 2d. Staples and Co. (whose annual meeting was recently • held in Wellington) sold twice in Christchureh and once in Dunedin at £1 2s 6d, .theniat" £1 2s 9d in Christchureh; yesterday's Wellington quotation was buyers £1 25,6 d, sellers £1 35.; Four sales, in Christchureh,' of Tooths ranged .from £1 4s. 6d to £1 4b 9d. Coal- sales': Pukemiro £1 4s, Taupiri 12s; ■: - Westport, 10s 6d, 10s 9d, 10s 9d, 10s Bd, lls. - ••.-. ■ In.the firiance.and pastoral group, Dalgety and Company sold at £7'l6s 6d; New Zealand Loan and Mercantile (ordinary) at £38'10s; Farmers' Co. of .Aust. B preference at 12s 6d (twice, in Auckland); National (£2' paid) at- £1 10s in. Wellington. Auckland Gas .Company had buyers for - the ordinary shares twice at £1 Os, 9d, and for contributing once at 14s Cd, all in Auckland. ;;":.' ' ; Insurance ■companies had. sales, Aust. Provincial at 8s 6d (three times), Queensland at £2 lls 3d, Standard at £2 lls 6d and £2 12s 6d, South British at £2 18s 9d and £2 19s. New, Zealand Insurance sales: £2 3s 9d, £2 ss, £2 ss, £2 ss, £2 5s 3d. ;■■•■,.■■..'■■• With the N.Z. Refrigerating Company's meeting in Christchureh • approaching, Christchureh reports fifteen sales of the 10s paid shares at 3s lOd to 3s 9d; there ■were also.a Wellington sale and an Auckland, sale' at 3s 9d. The £1 shares of this company sold once in Christchureh at lls, and at the same iprice in Dunedin. In shipping, there were no ocean-going investors, but Auckland buyers picked up Northern Steamship three'times at 5s 3d; arid the contributing' shares at' 2s; and though the coastal trade in the north competes with rail and road,, the shares at thesp figures indicate returns of. £13 15s 2d and £17 10s—assuming, of course, a continuance of- past payments. ' Mt. Lyell, recorded most sales in the ' miscellaneous section,' selling seventeen times at from £1 0s Id to :£1 0s sd.y Colonial Sugar sold' six times, from £53 2s 6d to £joZ 15s.'. 'There was,more inquiry for British Tobacco;' the .ordinary sold from £1 13s to; £1 13s '6d;,Jprefererice- £1 6s.' Other sales: -N.Z. Driig,' £2 ' 16s 6d, £2 16s 3d, £2 16s 3d; Wilson's Cement, £1 9s (twice); Weeks, Ltd., •£6 ■ (twice, at eiiristchurch); Beath- and Co. (Is paid), "2s; Dunlop-Perdriau, 17s; Electrolytic Zinc ordinary, 16s 9d; Electrolytic Zinc pfef., £1 8s 9d; Farmers' Trading B pref., 5s 6d (at Auckland). , -■.'■■ Wellington : Woollen (ordinary) sold in Wellington, at ,£5, showing a return of £6. Auckland. reported sales •of unlisted stocks as under: N.A.T.1 Motors, ss; N.Z. Newspapers, £1; "Sim" Newspaper, 3s 6d; Southern • Cross. Assurance, Is 3d; Williams Rotary Engine, ss. ■.-...