STOCKS AND SHARES

Evening Post, Volume CXVIII, Issue 35, 10 August 1934, Page 12

STOCKS AND SHARES

GENERALLY FIRM TONE

GILT-EDGED DEMAND

■(By Telegraph.—Press Assn.—Copyright.)

SYDNEY, August 9,

:: On the Sydney Stock Exchange today business was restricted, due to the funeral of an ex-member, Mr. Minnett, the exchange closing after the noon call:—Sales: Bank of New South Wales, £30 12s 6d; Commercial Banking Co. of Sydney, £16 I4s; Tooth's Brewery, 44s 39d; Tooheye, 27s 4'/4d; Australian Glass, 48s 3d; Henry Jones Co-op., 31s 3d; Farmers, 19s 7%d; Anthony Hordern, 14s 6d; Mount Morgan,' 25s fid;- Broken Hill Proprietary, 47s 7%d; Bulolo Gold, £8 10s; Rawang Tin, 9s 6d; Placer Development, £26 12s.

MELBOURNE, August 0.

Sales on the Melbourne Stock Exchange today included:—National Bank, £5 paid, £6; ..British Tobacco, 375; "Herald and AVeekly Times," 51s; Tongkak Compound, 255. •

Attention of the market is still directed to wards., gilt-edged investment, .although considerable interest is displayed in goldmining and dredging shares, and tin is now coming into prominence. Bank shares arc firmer in price this week with a considerable turnover reported in Reserve Bank shares and those of the Bank of New Zealand. In the Government loan market buriness this week has not been quite sfr.active as of late, but holders of. the S'/iper. cent, loans show no disposition to accept buyers' offers 0f.£107 10s and £107 5s for 3% per cent, stock for 1939-52 and 103843 respectively. The 5 per cent. Rural Advances bonds (1947) had buyers at £104, but no sellers at that figure. Business done in Government loan stocks and bonds was reported as follows: — 3% p.c. stock (1941), £104 7s Od; 4 p.c. stock (1940), £107, £106 10s, and bonds, £107, £107 ss; 4 p.c. stock (1949), £107 10s, £107 17s 6d; 4 p.c. stock (1055), £108. . The local body and company debenture market was also rather quiet, and there ■ were more sellers than buyers of the former investments. For 6 per cent. Westport Borough (1944) there were bids of £104, with sellers quoting £105. Company debentures' were in higher favour with offers to buy 6% per cent. Wellington gas (1041) at £104 ss; 6 per cent. Auckland Gas (1942), at £104 10s; 5 per cent. Wright, Stephenson ■ (prior lien); at £93 to £95; 8% per- cent. Gisborne Sheep Farmers' (1941), at £98 to £98 10s;. 6% per cent. Booth, Macdonald (1937),. at £71; 6% per cent. Glaxo (1945), at £91 to £96; IVn per cent. Amalgamated Brick, Auckland and Wellington (1944),. at £99 15s to. £100;. 7 per cent.. Hikurangi Coal (1948), at. £45; 4% per cent. New Zealand Farmers' Co-operative (1940), at £82 15s, and (1945) at £81 10s/ . ' . Sales of local body loans are here given as reported, but there-were no sales ot company debentures notified:— ■■ -6 p.c, Auckland Harbour (1941), £105 ,10s; 5% p.c. Takapuna Borough (1944), : £102; 534 p:c. Takapuna Borough (1964), £105./•'.■ ■>/■ BANKS/INSURANCE, FINANCE. Apart from sales of Reserve Bank and Bank' of New Zealand shares, business was rather-dull in "the bank section, although all shares ,of this description are firmly- held. Buyers of Union Banks offering £9 10s were met by quotations1 of' £9 13s 9d to £9 15s; Bank 'of Adelaide shares were in demand at £5, sellers quoting £5 7s 6d; Commercial. Banking Co. of Sydney had buyers at: £16 14s, sellers asking £16 16s 6d"ttfHßl6 17s 6d; Bank of Australasia, shares were wanted at £11 3s 6d, and the lowest quotation of sellers was £11 Bs. The business reported in bank shares this week was as follows:— Reserve Bank of New Zealand, £6 6s 3d, £6 6s, £6 5s fld, £6 ss, £6 5s 6d, £6 6s 3d, £6 5s 9d, £6 6s, £6 6s 4d, £6 6s 3d, £6 6s 6d; Bank, of New Zealand, 475, 47s 3d, 47s 6d, 46s 9d, 46s 6d, 475, 46s 6d, 46s 3d, 46s 4d, 46s sd, 46s 7d, 46s 3d, 46s 6d, 46s 9d, 46s B*d, and B Long Term, 345; English, Scottish, and Australian Bank, £5 Os Cd, £5 Is; Commercial Bank of Australia,. 15s 5d,, 15s 7d, 15s 6d, 15s Bd, 16s; National Bank of New Zealand, 75s 6d; Bank of New South Wales, £30 ss; National Bank of Australasia (£5 paid), £6, £6 Is. lusurance shares in general were on a pood market. Queensland? were in strong demand at 695, but holders did not quote. Sellers of United were prepared to do business at £10 10s. Sales of insurance shares as reported were as follows: — Aust. Prov. Assurance, 10s 2d, 10s Id; National, 19s Od, 19s Bd, 19s 9d, 19s lOd, ]9s 6d, 19s 9d; New Zealand, 62s 6d,, 635, 62s 3d, and (ex div.), 625; South ■ British, 82s 3d, 82s 6d, 83s, 83s 6d, S3s 9d; Standard, 65s 6d; GGs 3d. An easier tendency was seen m the stock and station share market, no doubt tho unsettled wool situation may explain thia. For New Zealand Loan and Mercantile preference £75 was offered without attracting quotations from holders. For the ordinary'stock'in this company £53 was offered, but sellers stood'out for £55 10s. ' National Mortgage A shares were in' request at 525. Financing eonipacies' shares wanted included Equitables .it 46s;' Wellington Trust and Loan at £5 10s 6d; Wellington Investment T. and A. at 8s 9~d;-Wellington Deposit and.Mortgage at 4s 3d. Sales in this section were reported as follows:— Dalgetys, £9 2s, £9; Farmers' Auctioneering .(B pref.), 20s, and (ord.), 755;. Goldsbrough Mort, 28s Bd, 28s 7d, 28s; N.Z. Guarantee Corp., 4s Sd;. United. Buildings Christchurch, 21s Cd, 21s 9d. COAL,. GAS, AND OTHER SHARES. Coal-mining shares continue rather quiet. Westports were wanted at 18s 6d, sellers asking 19f 6d; Taupiri (ord.) had buyers at 13s, sellers 14s. Sales of coalmining companies' shares this week were but few, and they, with sales of gas and other shares, are given in detail hereunder. Gas shares had a fair inquiry and some business, with Auckland contributing in demand at 18s 3d. Shipping shares continue quiet, with inquiry for Huddart, Parkers at 32s 3d- and New Zealand Shipping (pref.) at £9 ss. Freezing companies' shares are in rather quiet demand. For Canterbury (pref.), £5 10a was offered, and sellers quoted £5 15s. Southlands had' buyers at 655, and were to be had at 71s 3d. Woollen companies' shares were wanted with £10 5s offered for Mosgiels and £5 8s 6d for Wellington Woollen (ord. and pref. and cum dividends). : Timber companies' shares wanted included Leylarid-O'Brieh at 20s, Taupo Totara at 5a 6d, and Bartholomew at 12s 6d. ' • Brewery shares appear to be firmly held with a tendency for those in the bi;; New Zealand concern to advance. Tooths, Sydney, were wanted at 445, and Tooheys at 265. " ■ . . ■ Sales of shares listed iv the above-men-tioned sections of the list were as follows: — ■ ■ . Coal.—Re.nown Collieries (pref.), la sd; Wcstport-Stockton, 3s 4d. Gas.—Auckland, .25s 3d, 255, 24s lid; Christchurch (cont.), cum div, 15s 3d, 15s 4d, los 2d, and (paid) 335; Wellington, 40s. ' ' Shipping.—Devonporf Ferry, 22s 6d; P. and O. deferred, 18s 3d; Union Steam (pref.), 27d * * Freezing Companies.—Gear, 24s 6d; N.Z. Refrigerating (10s paid), 8s 3d,

and (£1 paid), 18s Sd, ISs 6d; North Canterbury, 20s. Woollen. —Kaiapoi, 11s 3d. Timber.—Kauri, 17s 9d, 17s Sd, 17s Cd; National, 8s- 6d. Breweries.—N.Z. Breweries, 43s lid, 445, 44s 6d, 44s Sd, 44s 7d, 44s 6d; Staples, cum div., 2Ss 6d; Tiniaru (7s 0d paid), 0s 3d. MISCELLANEOUS. A fair amount of interest was shown in shares clasified as miscellaneous and a good turnover was reported. Sales were as folldws:^Anthony Hordern, 14s 6d; Australian Glass, 4Ss; Associated News, 21s 6d. Beath's , 335; British Tobacco, 36s lOd, 36s 9d, 36s lid. . Colonial Sugar, £64 12a 6d, £64 15s; Consolidated Brick, 7s 9d. D.I.C. (10s paid), 15s lOd, and (pref.) 25s 6d; Dominion Fertiliser, 18s sd, 18s 6d; Dominion Pictures, 16s. Electrolytic Zinc (pref.), cum div., ' 345. Henry Jones Co-op., 30s 6d. ' Mt. Lyell, 21s 3d, 21s, 20s 7d. N.Z. Newspapers, 30s 9d. Quill Morris (in liquidation), 2s, 2s ,ld. 2s 3d: Regent Theatre, Dunedin, 19s. "Sun" Newspapers, 4s 2d. • Union Oil, 80s. Wilson's Cement, 30s; Wool-worths, NZ £6 17s 6d; Woolworths, Ltd., 039, 67s 6d, 67s 9d, 6Ss, 6Ss 6d, 67s 3d, 68s 3d, 68s 6d, 68s Od. 6Ss lOd, 70s 6d, 70s fld, 71s, 725, 72s 6d, 735, 73s 6d, 735, 745, 73s 9d. . Unlisted.—Claude Neon Lights, 51s 6d: Harvey Turbine, 22s 6d; John Fuller (debs.), £77 10s-; Invest. Exec. Trust (2nd B debs.), £94 10s; Procera Bread (10s paid), >13s; Perpetual Forests, 49s Od; Silknit, 27s 6d.