STOCKS AND SHARES

Evening Post, Volume CXVIII, Issue 101, 26 October 1934, Page 12

STOCKS AND SHARES

A QUIET WEEK

GILT-EDGED STEADY

(By Telegraph.—Press Assn.—Copyright.) SYDNEY, October 25. There was a rather sharp reaction today in many shares on the Stock Exchange in the industrial and trading .group, normal profit-taking being mainly responsible. Colonial Sugar shares were strongly supported while mining shares were inclined to dntt owing to the fall in the gold price. Commonwealth bonds were slack. Sales: l>ank of New. South Wales, £33; Commercial Bank of Australia, 10s; Union Bank, .-CO Ss; "Associated News, 2us Od, and pref., 265; Howard Smith, lGs 3d; Burns, l'hilp, 57s Cd; Burns, Philp (.South Seas), 24s 3d; Australian ..Gas, A, £8 Is Gd; British Tobacco,- 425; Tooth's Brewery, uls Gd; Toohey's, 30s l&d; Carlton Brewery, 51s 3d; Australian Iron and Steel, pret., Ms; Winchcombe, Carson, New Zealand delivery, 29s Od; Wileox Molflin, 10s 4d; Henry Jones Co-op., 375; Electrolytic Zinc, 2Ss 3d; Anthony Hordern, lGs I'M; Standard Cement, 10s Od; Meggitts, 21s Gd; Automatic Totes, 20s Od; General Industries, 13s; Mt. Morgan, 355; Broken Hill Proprietary, 52s 0d; Rawitng Tiu, Sis 4d; Peninsula Tin, 10s 6d; Placer Development, £22 10s. "Evening Post," October 20. Business this week was interrupted by a bank holiday on Monday, but the market may be described as quiet. Gilt-edged investments are firmly held but prices show no material change on the week, and demand is well sustained. Local body debentures were not prominent in the picture, but there were inquiries for 4Vi per cent. Wellington City at £10G; 5% per cent Auckland Harbour Board (1048) at £103; and 4% per cent. Wellington Hospital Board (1043), at £103. Business imported in Government stocks and bonds and local body loans was as follows:— ; ZVz per cent stock (103S-52), £110 10s; •4" per cent, stock (1040), £105; 4 per cent stock (1946), £100 10a, £100 7s Gd, ' £100; 4 per cent, stock (1949), £100 10s, £109 7s Gd; 4 per cent, stock (1055), : £113 7s Gd, £113 10s, £113 ss, £113 2s ; 6d, £113 10s, and bonds, £113 10s. 4% per cent. Auckland Power Board (1050),. £100. Company debentures having inquiry inciluded GVz per cent. Wellington Gas (1941) (it. £103 10s; 6V4 per cent. Glaxo (1945) at £91, sellers quoting £105; 5 per cent, (prior lien), Wright, Stephenson, at £0S os; 6/£ per cent. Gisborne Sheepfarmcrs (19.41), at £08, sellers £102. BANKS, INSURANCE, FINANCE. Bank shares are well held with increases on the -week shown ,in prices paid for Keaerve Bank and Bank of New Zealand and the 4 per cent, preference issue of the Commercial of Australia, Commercial of Sydney had inquiry at £17 14s; E.S. and A's were wanted at £5 ss. There were no buyers of Bank of New Zealand D or long I;crm mortgage shares, at 34s 8d to 34s Od sellers. Sales of bank shares -..•ere reported as follows: — Reserve Bank, £6 10s 6d, £6 11s. £G 10s 9d; Bank of New Zealand, 48s Gd, 48s Sd, 48s 9d, 48s lOd, 48s 3d, 4Ss 7d, 48s Od, 495, .409 3d; Bank of New South ".Wales, £32 ss, £31 37s Gd; Commer,cial Bank of Australia, 10s 2d, 16s Id, and pref., £9 19s, £10; National Bank of New Zealand, 70s; National Bank of. .Australasia (£5 paid), £6 3s Gd, and .(£10) paid. £12 17s, £12 12s 6d; Bank ;of* Australasia, £11 13s; Union Bank, £9 7s Gd. Insurance company shares in general show, considerable firmness. ■ Queensland, with, the annual report presently duo, had buyers at 51k to 52s Gd and no disclosed sellers. Mercantile Mutual were wanted at 24s 6d. A.P.A.s were to be bought, for. 11s 3d.; Sales of insurance companies' shares, are reported as follows: — National Insurance, 21s 9d; New Zealand Insurance, GOs 9d, 60s: South British, 93s Gd, 935; Standard,' 71s. Pastoral companies' shares were on the quiet side, which is not to be wondered at, considering the uncertainty as^ to the wool'market. Dalgctys were wanted at £0 4s, sellers quoting £9 Gs to £0 7s. Loan and Mercantile (ord.) had buyers at £40 to £45. sellers asking up to £54. Local financial companies' shares wanted included Wellington -Deposit and Mortgage, at 4s Gd;- Wellington Investment T. iind A. at 8s 9d; Abraham and Williams (pref.) had buyers at 935;. and Wright, Stephenson (pref.) at 19h Gd. Permanent Investments were wanted at £9 7s Cd. Sales in this section were . reported as follows:— Dominion Investment (Auckland), 17s; Farmers' Auctioneering (A pref.), 21s (id;. Goldsbrough, Mort, 31s Id,. 30s 4d; New Zealand Guarantee. Corporation, os od,'ss 5%d; Traders' Finance (contrib.), 3s. '. • . ' COAL, GAS, AND OTHERS. Slackness still' characterises the coalmining shale market. However, there were buyers of Taupiris at 13s; WestportStockton (pref.) at 4s 6d, and Renowns at 4s 6d. Sales -were reported as follows:— Kaitaugata Coal, 215.6 d; Renown Collieries (pref.), 2s sd;,Westport Coal, 10s, 19s Id. , ' Gas shares were firmly held with buyers of Wellington at 41s 3d; Christchurch (paid) at 345, and Auckland (contributing) at 19s 3d. Sales were us follows: — Auckland Gas, 26s 10(1, 26s lid; Christchurch Gas (con.), 16s, IGs 3d; Napier Gas (pref.), £10 2s Gd. Brewery shares were rather easier as to the issue of the big Now Zealand concern. Tuis had inquiry at 56s Gd and do disclosed sellers. Carltons were in demand at 50s 6d. Tooths had buyers at 50s 3d to 50s 6d, and Dominion Brewery shares were wanted at 10s 9d. Sales were as follows:— New Zealand Breweries, 40s sd, 49s 3d, 49s 4d, 495, 49s 3d; Timaru Brewery (con.), 7s 6d. Freezing companies' shares were on a dull market. Canterburys (ord.), however, had good inquiry at £10 5s and (pref.) at £5 16s. South Otago had buyers at £6 8s 6d. Business reported •in meat shares was as follows:— New Zealand Kefrigernting (10s paid). 9s Gd, 9s 4d, 9s Gd, and (£1 paid). 10s 6d, 19s 8d; Southland Meat, 755. Shipping shares in demand included P. and O. deferred at 21s to 225; Huddart, Parker (ord.), at 35s Gd; and Union Steam Ship (pref.) at 26s to 27s Od. Devonport Ferry were wanted at 23s 6d. Sales reported were as follows:— Northern Steamship (paid), Gs 7d. INDUSTRIAL AND VARIOUS. Woollen company shares keep at high levels. Mosgiels were wanted at £11; but holders did not quote. AVellingtons had buyers at £5 8s to £5 lls Gd for ordinary and £5 10s to £5 12s fur preference. Sales reported were:— Kaiapoi, 13s 9d. Timber shares showed improvement. Rotoitis were wanted at 2s 9d and Taupo Totaras at 5s 6d. Kauris had sellers at T9s Bd. Sales were as follows:— National; Timber, Ife 9d. In the miscellaneous section . the turnover was fairly, good, and indicated a well-spread interest. Sales were reported as follows: — Anthony Hordern, lGs Id, IGs 3d, lGs 6d, IGs 4d. British Tobacco, 425, 42s Id. 42s Gd, 425, 4lfi 9d; Broken Hill Proprietary, 52s Sd,

52s Od, oL's 7tl, Si's Od; lJurns, I'hilp, 57s Od. Consolidated Brick. 10* lid. Us; Colonial Sugar, £74, £73 Da, Silo 10s, £74 ss, £80; Crystal Ice, i'2xDominion Fertiliser, 20s Od; DunlopPcrdriau Rubber, 20s, 20s Id, 10s lid, 20s 3d, 20s. Electrolytic Zinc, 28s, 27.S Od, 27s lOd, and (pref.), 35s lid. Farmers' Trading, 7s, Us od, and (ii pref.) Us Gd. Hays, Ltd. (15s paid), 17s Gd. Mount Lyell, 18s lid, ISs 7d,_ ISs Sd. National Klcctric. 8s IVid: Northern Holler Mills, 325; New Zealand Drug, 80s; New Zealand Newspapers, 32s (id, 32s Od. ' Quill Morris (in liquidation), :js Id. "Sun" Newspapers, 3s lid, 4s. Wool worth (Victoria) (pref.), 28s; Wilson's Cement, 345. Unlisted: .Associated Motorists (pref.), 22s Cil; Denhnrd Bakeries (pref.), 10s Od; National Tobacco, 71s Gd; Proeora Bread (10s paid), 12s fid; Woolworths, 70s Gd, 70s 7d, 7Gs 3d, 7Us, 7os (id.