TRADE AND FINANCE

Evening Post, Volume CXVI, Issue 96, 20 October 1933, Page 12

TRADE AND FINANCE

PRODUCE & MARKET REPORTS FROM DAY TO DAY

•STOCKS AND SHARES

SOME REACTIONS

SALES OF THE WEEK

$»lteJ Press Association—By Electric Tele.

eraph—Copyright.

SYDNEY, October 19,

On the Stock Exchange good support 5s still forthcoming for most retail trading shares, and price variations are only slight. There was an active market for bonds, but banks were comparatively quiet. Sales: Bank of New South Wales, £34 7s 6d; Commercial Banking Co. of Sydney, £18;' Colonial Sugar, £81 12s GJ; Associated News, 20s 9d; ditto, pref., 20s 3d; Australian Glass, 52s 9d; Australian Gas, A.. £7 7s; British Tobacco, 37s WMI; Dunlop-Perdriau, 19s; Carl ton Brewery, 41s 9d; Tooths, 42s 9d; Tooheys, 24s «9d; Burns, Philp, 545; Howard, Smith, 13s 3d; Millaquin Sugar, 29s 3d; Electrolytic Zinc, 20a l%d; Winch'oombe, Carson, 28s 6d; Lustre Hosiery, 17s; Standard Cement, J6s 10% d; Anthony Hordern, 13s Id; ditto, pref., 21s 10% d; Truth, first pref., New Zealand delivery, 255; ditto, second pref., Sis 9d; David Jones, 355; Farmers, 17s; Australian Provincial Assurance, 12s 2a; Mt. Morgan, 47s 3d; Broken Hill Proprietary, 40s 3d; Kuala Kampar Tin, 10s 30d. - MELBOURNE, October 10. Sales: Metropolitan Gas, £12 14s; Dun-lop-Perdriau, ISs lOd; North Broken Hill, 87s 6d. "Evening Post," October 2. Government loans hold their own with a tendency to advance in price and there is; still an unsatisfied demand for 5% per ce.nt. city loans at up to 2% per cent. above par. Bank shares as a whole show a slight reaction this week, not only in New Zealand but in Australia as well. The business done in Government stocks and bonds during the week has been reported as follows:— 3% per cent, stock (1938-43), £1001 12s 6d, £101 ss; 3% per cent.- Stock (1939----43) £101 ss, £101; 3% per cent, stock (1939-52), £101 ss; 3% per cent, stock (1938-52), £101 15s; 4 per cent, stock (1940), £101 10s, £101 15s, £101 12s 6d; 4 per cent, stock'(l 946), £101 2s 6d, *101 10s; 4 per cent, stock (1949), £100 7s 6d, £101 10s, £101; 4 per cent, stock (1955), £101 10s, £101 7s Gd, £101 15s. Local body loans in demand include 5% per cents, of Auckland City and Christchurch City (1944) at £101; 5% per cent. Dunedin (1944), at £101 ss; 5% per cents, of Wellington City and Harbour Board (1940), at £101; 6 per cent. Auckland Harbour Board (1941), at £103; 5% per cent. Auckland Power Board (1945), at ' Company debentures f6r which there were unsatisfied buyers included 0% per cent. Wellington Gas (1941),- at £101 to £101-ss;'B per cent. Wellington Racing Club (1935), at £95; 6% per cent. New Zealand Refrigerating (1935), at £101 ss; 4% per cent. New Zealand Farmers Coop. (1940 and. 1945), at £61; 6% per cent. Gisborne Sheepfarmers (1941), at £84; 6y 3 per cent. Glaxo (1945), at £82. Sales of local authority debentures and company debentures were reported as follows:— 6^ per cent. Birkenhead Gas (1933), £100; 5% per cent. Mount RoskilUlseO), £101; 5% per cent. Auckland Harbour Board (1961), £103. , 4% per cent. New Zealand Farmers Co-op. (1940), £65; 7% per cent. Amalgamated Brick, Auckland (1944), £94. BANKS, INSURANCE, FINANCE. •As already stated, bank shares today have a weaker tendency, .and the reasons for this in New Zealand, at any rate, are to be found in the attitude of the Government towards such institutions, in general but in particular to the Bank ot New Zealand.1 Business has been done in the shares of all the banks usually quoted day by day by the exchanges. There were buyers, but no sales reported, of Queensland Nationals at £5 7s 6d, and Commercial of Australia preference at ±8 14s. Sales of bank shares were notified as follows:— Bank of New Zealand, 47s 9d, 49s 9d, 47s lOd, 47s 3d, 475, 46s 9d, 475, 46s 6d; Commercial Bank of Australia, 16s lls,'l6a lOd, 17s, 16s lid, 16s lOd, 16s 9d; National Bank of New Zealand, 84s 9d, 84s 3d, 84s, 83s fld, 84s 3d, 84s; Bank of New South Wales, £34 7s 6d, £34 10s; National Bank of Australasia, cum div (£5), £§ 12s 6d, and (£10), cum div., £13 10s;'Bank.of Australasia, £12 15s; E.S. and A. Bank, £5 16s 6d, £5 12s 9d, £5 13s, £5 12s 9d; Commercial Banking Company of Sydney. £18; Union Bank of Australia, £10 6s. Insurance company shares continue to Aold their own, with bids for Nationals at 183 2d to 18s 3d, and no declared sellers. Australian Provincial had buyers <at 12s 2d and were obtainable at 12s 9d. S-Sales of insurance company shares were Reported as follows:— ! New Zealand Insurance, 54s 6d, 54s 3d; .; South British, cum div., 745, 74s 3d; ~' Standard, 61s; Queensland, 60s, 595, 60s. 1 Financial and stock and station comipanies' shares having good inquiry were ijTew Zealand Loan and Mercantile (ord.) 'at £57 10s and (pref.) £78; Wellington [Trust and Loah at £4; New Zealand and River PJate at 24s to 24s 6d; Wright, IStephenson at 13s 9d; Wellington Investment Trust and Agency at 6s; New Zeailand Investment and Mortgage at 3s 3d; ■Farmers' Auctioneering, 47s 6d; and Na.■tional Mortgage B at 27s 6d. Sales were fes follows:— " ■ Dalgetys, £11, £11 2s 6d; Goldsbrough Mort, 295, 29s 2d, 29s 3d, 295, 29s Id; New Zealand Guarantee Corp., cum div., 8s 2d, 8s 3d; National Mortgage A, 53s 9d. COAL, GAS, AND OTHER SHARES. Coal mine shares continue on a quiet /narket. Grey "Valleys were inquired for at 13s 6d to 15s 9d with sellers at 17s. Pukemiros were wanted at 17s 6d, sellers 21s. .' Westport-Stockton (pref.) had buyers at Is 9d to Is lOd. Sales of coal and other shares are set out separately ibelow. ' Gas .companies receiving attention of buyers included Chfistchurch at 27s and Gisbprnes at 4s 6d. Shipping shares' were quiet, but there ■-were bids for P. and O. deferred at 23s 3d to 23s 9d; Huddart-Parker (ord. and 'pref.), at 30s 9d to 31s and 24s 9d respectively. Northern Steams were wanted *t 4s >6d. . Freezing companies' shares attracted •favourable attention with buyers of North Canterburys at 9s and Wellington Meat Export (pref.) at 17s 6d. Woollen shares wero well held. Mos;%iels had buyers at £9, sellers quoting )£9 10s; Wellingtons (ord. and pref.) were firmly held for £5 15s. Breweries were in steady demand with •» fair turnover in shares reported. Timber shares demand continued quiet. •tLeyland O'Briens had buyers at 19s, Nationals at 6s 3d, and Taringamutus at Is Sd to 2s. ' In the miscellaneous section there were prders for Australian Glass at 51s; Henry frones Co-op, at 38s 3d to 395; Farmers' [Fertiliser at 15s 9d; Allied Motors at 2s; ißurns, Philps at 525; Northern Roller Mills at 28s; Wairakei at 3s; Sharlands jat 21s 6d and 21s 9d for ord. and pref. Sales in the various sections of the list jwere as follows: — Coal.—Kaitangata, 225, 22s 3d; Taupiri, 14s; Westport, 13s 6d, 13s 9d. Gas—Auckland, 23s 7%d, 23s 7d; Wellington, 345. Shipping.—Devonport Ferry, 20s 6d; Howard Smith, 14s, 13s 9d, 13s lOd, 13s ■ 9d; Union Steam (pref.), 24s 6d, 255. Freeziug Companies. — Canterbury Frozen Meat, £10, £10 ss; Gear

Meat, 32s 3d; N.Z. Refrigerating (10s), 8s l.Od, 8s 9d, 9s, 8s lid, 9s 3d, 9s 4d, 9s sd, 9s 4%d, 9s 6d, and (£1) 19s sd. Woollen. —Kaiapoi (7s), Is 3d, and (pd.) 8s 6d. Breweries.—New Zealand Breweries, 38s, 37s Od, 37s 6d, 37s Bd, 37s 6d, 37s 9d,.37s sd, 37s 3d, 37s Od; Staples, 28s S3, 28s Bd, 28s 3d, 28s 9d; Toohey's, 255; Tooth's, 22s 4%d, 22s 6d.

Timber.—Kauri, 13s 6d, 14s,

Miscellaneous. —Australian Knitting, 235; Beath and Co. (Is), 6s; British Tobacco, 37s 6d; Bycroft, Ltd., 40s; Colonial Sugar, £59 12s 6d; Donaghy's Rope, 42s 6d; Dominion Fertiliser, 13s 9d, 14s; Dunlop Rubber, 19s, 19s Id, 18s lOd, 18s lid, 18s Bd, 18s 3d; Electrolytic Zinc (ord.), 26s 3d, 245, 26s 6d, 25s 7d, 25s 9d, 25s lOd; Farmers' Trading, 3s 4d; H.M. Arcade, Auckland, pref., 20s 3d; Howard Smith, 14s 3d, 14s 7d, 14s Bd, 15s; Mt. Lyell, 23s 6d, 23s sd, 23s 6d, 235; N.Z. Drug, 70s 3d; N.Z. Newspapers, 27s 7%d, 27s 6d; "Otago Daily Times," 45s 6d; "Truth and Sportsman," pref., 21s 3d; Woolworths (N.Z.), pvef., 365.

Unlisted.—lnvestment Exec. Trust, B deb., £99, £97, £98; N.Z. Perpetual Forests, 96s lid; Smith Wylie (Aust.), 13s 9d\

BANK OF ENGLAND RETURN

According to a prospector who passed through Brisbane on the Macdhiii, valuable gold and platinum deposits have been discovered at Milne Bay, near Samarai. He is bound for Sydney to obtain the services of mining engineers and reef miners to test further the find. The discovery was made by a Melbourne syndicate's party, led by Mr. C. L. Burlington, who said preliminary tests revealed a yield of from sdwt to 2%07! to the ton. It looked like a hugo mediumgrade proposition.

United Prets Association—By Electric Teleeraph—Copyright. (Received October 20, 10 a.m.) LONDON, October 19. The-weekly Bank o£ England return is as follows:— Issue Department— £ Notes iii circulation 370,595,747 Notes in Banking Dept 79,781,552 Total 450,377,299 Government debt ' 11,015,100 Other Government securities 243,115,931 Other securities 2,225,530 i Silver coin 3,643,433 Total fiduciary issue 260,000,000 Gold coin and bullion ...;.. 190,377,299 Grand total 450,347,209 Banking Department— Proprietors' capital - 14,553,000 Rest ;.... 3,124,041 Public deposits 14,458,495 Bankers' deposits 108,959,037 Other accounts 45,568,93!) Seven-day and other bills .. 1,169 Total "... .18(5,660,081 Government securities ...» 81,468,404 Discounts, advances ........ 8,500,52!) Securities 15,955,531 Notes ■. 79,781,552 Gold and silver coin 1,354,665 Total 180,660,681 Proportion of Reserve to Liabilities '... 4S.00 p.c. Short Loans % p.c. Three months' bills 13-16 p.c.