TRADE AND FINANCE

Evening Post, Volume CXIX, Issue 127, 31 May 1935, Page 12

TRADE AND FINANCE

PRODUCE & MARKET REPORTS FROM DAY TO DAY

STOCKS AND SHARES

GILT-EDGED STEADY

THE WEEK'S TURNOVER

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

SYDNEY, May 30.

The. terms of the new Commonwealth loan of £12,500,000 were generally anticipated and approved by the Stock Exchange today, and buyers of bonds were inclined to come into the market again, with the result that Government securities were generally steadier. Retail trading shares were well supported^ at round about late levels, but Broken Hill silver and lead scrip suffered a. setback owing to the fall in metal prices. • Sales.-^Commercial Banking Co. of Sydney, £17 15s; Commercial Bank of Australia, 15s 3d; Colonial Sugar, £40 17s 6d; Australian Provincial Assurance, 21s 9d; Associated News, 22s IOAdAustralian' Gas, A, £8 Is 6d; Australian Glass, 675; British Tobacco, 38s 9d; Tooth's Brewery, 535; Carlton Brewery,.49s 6d; Dunlop-Perdriau Rubber, 16s 7Jd; Winchcombe Carson, 28s; Wilcox Mofflin, 10s 9d; Morris Hedstrom, 20s; Electrolytic Zinc, pref., 35s 9d; Anthony Hordern, 18s 6d; Drug Houses of Australia, 27s 1-Jd; General Industries, 18s; Goodyear (pref.), 23s 9d; Mount Morgan, 35s 3d; Broken Hill Proprietary, 55s 3d; Broken Hill South, 85s 9d; Kuala Kampar, 22s lid; Rawang Tin, 7s sd; Kramat Tin, 48s; Peninsula Tin, 20s 3d; Commercial Bonds, 4 per cent, 1938. £103 11s 3d; 1941, £102 17s 6d; 1944, £<103 15s; 1953, £105 17s 6d; 1957, £105 7s 6d; 1959, £105 10s; 1961, £105.17s 6d:

MELBOURNE, May 30. Sales on the Stock Exchange today included:—Commercial Bank of Australia, 15s-4d; Commercial Banking Co. of Sydney, £17 10s; National Bank, £5 paid, £6. 6s 6d; Huddart, Parker, 28s; Australian Glass, 675; North Broken Hill, £6 6s; Zinc Corporation, 375; Mt. Lyell, 21s.

"Evening Post," May 31. Sales volume in the local market this week showed an increase, with interest fairly well spread over investments, and special attention paid to certain .industrials. Gilt-edged are very firmly held, notwithstanding that on the face of the market there are more buyers than sellers. Taking the prices current for Government loans at the close of 1934 and' the highest prices paid, or highest bids made for such investments, the course of the market'is shown in the following comparisons:— ■ .

,3^per cent. Stock (1938-43), £105 ss; ditto (1939-43), £105; 3£ per cent. Stock (1939-52), £106 15s; 4 per cent. Stock Q940), £ 105, £104 15s. £104 12s 6d,- £104 10s, £104 17s 6d, and Bonds, ;£lO4 17s 6d; 4 per cent. Stock (1946), £107 15s, £108. and Bonds, £108 ss; .4. per cent. Stock (1949), £108 10s; 4 .per cent. Stock (1955). £112 10s. " ' •

Inquiry for local body debentures was but " However, there were inquiries -for.4£ p«r cent. Auckland Harbour M 962) -at £110: 4J per cent. Blenheim .Borough (1955) at £103. and Petone-Lower.Hutt (1962) at £110. Company.. debentures continue in good demand. Those haying inquiry this week included 5 per' cent. Wright Stephenson at £97, 7 i per cent. Amalgamated Brick, Auckland (1944) at £103. and 6£ per cent. Glaxo (1945) at Sales of local body and company debentures as reported were as follows:— 4J per cent. Auckland-City (1936),' ■ £107; 6 per cent..: ■ Hauraki" Plains (1962), £105: 5J per cent. Waitemata County (1964), £112: 4J' per cent. Mt. Albert Borough (1968), £110 4s; 6J per cent. Gisbofrie Sheepfai'mers (1941), £101_10s;:7>> per cent. Amal-

gamated Brick, -Wellington (1944) £104. ' '

BANKS, INSURANCE, FINANCE.

Bank shares in general continue in active demand; but there were sellers quoting £17 15s for Commercial of Sydney, with buyers Vat £17 Bs. The 7J per cent, fixed dividend long-term mortgage shares of the Bank of New Zealand were quoted by sellers at 345. 3d, "cum :diy. Queensland Nationals had sellers at £5 3s, and the'4J per cent'./jpreference issue, of the Commercial were to be bought, for £9:1,55,-, Sales of bank shares were reported as' f olTows!-L- • c Reserve Bank (cum div.), £6 15s,

£6- 14s- 9d r £.6 14s 6d, £6 14s IOJd. £6 14s,9d;_ Bank of New Zealand (cum div.);'sos 2d, 5Qs ,6d,.50s 9d, 50s, SOs'tid," 50s'7d, 50s 9d, 50s 6d, 50s 9d; Commercial Bank of Australia, 15s 2d,'.-15s 3d; 15s sd, 15s\4d, 15s 3d; Bank 61-' Australasia, £11 ss; National Bank of New Zealand, 675, 67s 6dJ. 67s 3d, 66s 6d; Bank of New South Wales, £31 7s 6d, £31; Na-' tipnal Bank of Australasia (£5 paid), £6 6s 6d, £6 3s 6d; Eng., Scot, and: Aiist. Bank,; £5, £5 Is, 99s 6d; Union "Bank, £8 17s, £9. ■

In the insurance share market business was rather quiet, as holders were exceedingly firm in their demands There were unsatisfied buyers of Austrakan^Provincials at a guinea. Queenslands .were wanted at 595, .with no response'from' holders. South British had sellers at £4 18s to £4 19s 3d but buyers were silent. Standards were w,anted, at 72s 6d. Sales were as follows:— '•

National. Insurance, 21s; New Zea--7?^a?^lo^ sv 71s; 3d' 7Oslod-

Stock" and station shares should improve with, the uplift in the wool market and the. better prices returned for lamb;, Abraham and .Williams' .(pref ) "had uiQLuiry' at 755. National Mortgage B were..wanted at 31s. -Farmers' Auc- -&° ne<V rWI <£5 paid) ' had buyers, at /■is. in- the financial companies .group there were buyers of New Zealand Investment, Mortgage,, and Deposit at Bs. Mutual' Benefit (Christchurch) were W^w c?! «,-£l2>V? ellers noting £15. bales in.this section were reported as follows:— ■ .

Dalgety's, £8 ss, £8 2s 6d; Golds-brough,-Mort. (cum div.), 29s 3d: North Auckland Farmers' Co-op IsNew .Zealand Loan and Mercantile : (ord.),- £32 10s; New Zealand Guar- ■ antee Corporation, 5s 9Jd; Traders' Finance (7s 6d paid),' 2s 7d; United Building (Christchurch), 22s 3d, 22s 6d,<and XAuckland) 19s 6d. . . COAI/i GAS, AND OTHER ! •■.-.-., ■■•■...,,.-, SHARES.. .. Coal mineshares generally had good inquiry. . Pukemiros were wanted at 24s 6d to 25s and Westport-Stocktbns (pref.) at 4s. Westports were to be bought for 225. Gas shares wanted included Napier a! £, 5# Wellmgton (ord.) had sellers at 435. . Sale of coal and gas shares were reported as follows:— , <-, Kaitangata Coal, 20s 6d; Renown Collieries, 9s sd, 9s 6d; Taupiri Coal, lbs ad.

Auckland Gas, 28s, 28s 3d, 27s 6d; and (15s paid), 20s 10Jd; Christchurch Gas, 36s 6d.

Shares m the big New Zealand Brewery concern have recovered in value during the week. There were

buyers of Staples at 32s 6d and White Stars at 41s. Sales of brewery shares were notified as follows:-r-

N.Z. Breweries (cum. div.), 52s 9d, 52s 6d, 52s 3d, 52s 2d, 52s Bd, 525, 52s 6d, 52s 9d, 52s 7d, 53s 3d, 53s 9d; Tooths, 52s Id, 525, 52s 3d. The meat share market continues quiet. Gears were wanted at 20s 3d; Canterbury (ord.) at £9 7s 6d; and North Canterburys at 13s 6d. Sales of freezing companies' shares as reported were confined to one company, as follows:—

N.Z. Refrigerating (10s paid), 9s, 8s lid.

INDUSTRIALS AND VARIOUS.

Woollen Mill shares continue to be strongly held. Mosgiels were inquired for at £10 15s but there were no sellers. Wellington (ord. and pref.) had buyers at £6 but holders did not quote. Sales were as follows: — Bruce Woollen (ord.), 13s 6d; Kaiapoi -Woollen (pref.), 18s, and (ord.), 5s 2d.

There was not much doing in timber except a hardening in the price of Kauris. Bartholomews had buyers at 15s and Nationals at 13s 3d. Sales were as follows: —

Kauri Timber, 19s HJd, 19s lOd, 19s Bd, 20s; Taupo-Totara Timber (20s pref.), 18s 6d.

Shipping shares are on a rather quiet market. • For P. and O. deferred there were buyers at 20s. Business done in this section Was as follows:— Devonport Ferry, 225, 22s 9d; Hud-dart-Parker, 37s 8d; Northern Steam, 7s sd, and (3s 6d paid), Is 9d; Union Steam (pref.), 27s 4d. MISCELLANEOUS. Turnover was brisk and widespread! in the miscellaneous section of the list with marked appreciations in the values of shares in New Zealand Newspapers and "Sun" Newspaper, also improvements in the prices for certain Australian industries. Sales were reported as follows: — Amalgamated Wireless (con.), 39s 3d; Anthony Hordern, 17s 6d; Australian Glass (cum div.), 67s 6d; Australian Iron and Steel (pref.), 22s Od, 22s 6d. Beath's, 295; British Tobacco. 38s 9d, 38s 6d, 38s sd, 38s 3d, 38s 7d, 38s 3d; Broken Hill Proprietary, 55s 9d; Burns, Philp, 60s 6d. Consolidated Brick. 9s, 8s lid; ■Colonial Sugar, £40 17s 6d. D.I.C. (pref.), 25s 6d; Dominion Pictures, 15s; Dunlop-Perdriau Rubber, 16s, 15s lOd, 15s 9d, 16s 3d, 16s 4d, 16s 2d, 16s 3d, 16s sd. Electrolytic Zinc (ord.), 26s 9d. Farmers' •Trading (cum div.)', 7s 9d, 7s 9Jd, 7s 7d/ • General • Motors-Holdens • (pref.), 22s 6d; G;, J. Coles.(Melbourne delivery), ,665. 6d, 67s 6d. -, . ; Henry, Jones Co-op!, 35s 6d.- ■ X.D.V. Box, 21s 6d, arid"(o.os paid), 10s 9d.. .' ;." '.'■■ , .:',.'■■■ ' ' ■ Mount' Llyell, 21s', 21s 3d, 21s 5d 21s ,6d. 21s 7d, 21s 4d, 21s 6d; 21si "21s 3d. | . New Zealand Drug, 82s New i Zealand Newspapers, 36s 6d,;' 365, 35s 9d, 36s 9d, 375, 395, 39s 9d; New Zealand Paper Mills, 355. r ,;. "Sun" Newspapers, 5s 9d»- ss*Bd ' 5s lid, 65,; 6s. Id, 6s. 2d, 6s- 3d,-6s 5d 6s 6d, 6s 7d, 6s 9d, 6s 11<J; 7s,'7s Id 7s 2d, 8s 2d, Bs, Bs, Id, 8s 3d, Bs, 8s Id' 8s 2d, 8s 3d. 8s 4d, 7s, lid',. 8s 3d 8s 4d. ; . . '.'_: Wilson's Cement (cum., div.), 375, 37s 6d; Woolworth's, : N:Z:' (pref) 40s 6d. <■:,.■.// ', ' '

Unlisted.—Auckland Farmers' Freez9nf if 5r^ aid)l £l ls' and (£1 Paid)> n^2d; Glsborne Sheepfarmers, debs., £102; Procera Bread (10s paid), 11s "•if 6 per cent. Renown Collieries (1934), £102 10s; Woolworth (Sydney) 90s, 89s 6d, 91s, 90s, 89s 3d • yuue^'

■ • ■ ■ Jan. • May. Loan. £ s. d. £• s. d. 3i p.c.,. 1943 .., 106 0 0 105 5 0 3J p.c.';: 1952..■*;•! 106..0 0 . 106.15 0 3£ p.e,, 1941 ... 102 ,0 0 105 0 0 i p.c, 1940 ... 103 0 0 105 17 6 1 p.c, 1946 ... 105 10 0 108 0 0 i p.c, 1949 ';.. 106 10 0 108 10 0 1 p.c, 1955 ... 110 0 0 112 10 0 The business done in Government loans this week was fair, with special interest displayed in the 4 per cent, of 19-10 maturity. Sales as reported were as follows:—