INVESTMENT PRICES

Evening Post, Volume CXX, Issue 132, 30 November 1935, Page 12

INVESTMENT PRICES

COURSE OF THE MARKET

EFFECT OF ELECTIONS

"Evening Post,"'November 30. That' the results of the General Election this weak should have an immediate effect on the market for Government loans, bank shares, and other investments of a like character was only to be expected. The London Stock Exchange also reacted to the elections when New Zealand stocks fell from prices current at the end of last week by from £3 5s for the 4 per cent.. £1 11s 3d for the 3J per cent., and £2 los for the 3 per cent. The 6 per cent, loan (1936-51) was unchanged al £104. The effect on the local market for Government loans was that from quotations on November 26 there was but a slight decline on those for yesterday. The movements in the market for New Zealand Government loans sines June 30 last are shown; in the table following:— Stock. : Percent. Year. June 30. Oct. 31. K0v.29. 3Vi 1943 10r.% 102Vj 10a HV- 15132 107% 101-"s 102-11 .:i54 19-11 102 V. ]02;ti v 100% •i 1040 101'/. 101-' it 101 Vi ■1 ' 1916 lO.Svs 101% 101% •i i9!n ■ lori'i iwr. iony 4 ■t 1955' lll"s HIS lOli'.i Interest on 3.'.4 per cent, loan (l!>-i:s) and 394 per cent. (1941) was due on November 13. The course of business in Government loans this week will be seen in the sales reported from day to day since Saturday last, and which were as follows:— 3£' per cent. Stock (1938-43), £103; 31 per cent. Stock (1939-43), £103 Is 3d, £103; 3J per cent. Stock (1933----52), £102 15s; 4 per cent. Stock (1940), £102 ss, £102, £101 10s, and Bonds, £102 10s. £102; 4 per cent. Stock (1946), £104 17s 6d, £105, £105 ss. £105 10s, £104 17s 6d. £101 12s 6d £105, £104 15s; and Bonds, £105 £104 12s 6d; 4 per cent. Stock (1949) £105 ss, £105 6s 3d, £105 10s £105 ss, and bonds,. £105 :ss; 4 per cent. Stock (1955), £108 ss, £108 2s 6d, £107, £106 10s, £107 10s, and Bonds, £108 ss. The local body and company debenture market so far does not .appear to have been affected by the change 'n the political situation. Sales of suca investments have been reported as follows: — ■ 4J per cent. Central Electric (1947), £106; 6 per cent. Auckland Gas (1942), £106, £106 ss; 4J per cent. New Zealand Refrigerating (1940-45 \ £101 10s- 4J per cent. New Zealand gamated Brick, Auckland (1944), £101 10s; 4£ per cent. New Zealand Farmers' Co-op. (1945), £85 ss. BANKS, INSURANCE, FINANCE. The most noticeable feature in the bank share market at the close of the week was the drop in Keserve Bank, Bank of New Zealand, and National Bank of New Zealand shares. Banks having headquarters in Australia were not similarly affected. Commercial of Australia (ord.) appreciated early, in the week, rising to 17s 4d, but closing at 17s 2d. Bank of Adelaide had inquiry at £5 18s, and Commercial of Sydney were wanted at £17 15s with sellers at £18. Unions and New South Wales held their own. Sales of bank shares this week were reported as follows:— Reserve Bank, £6 ss, £6 5s 6d, £6 ss. £5 12s 6d, £5 11s 9d, £6 ss, £6 ss, £6 5s 3d, £5 15s, £5 14s, £5 10s 6d; Bank of New Zealand (cum div.), 51s 6d, 51s 9d, 51s 6d, 48s, 495, 48s 9d, 51s 3d, 48s 3d. 48s 6d. 48s, 48s 2d, and D long term, 335, 33s 6d; Bank of New South "Wales (cum div.), £33 10s, £32 17s 6d, and (Sydney register), £33 7s 6d, £33 10s; Commercial Bank of Australia, 16s lid, 17s. 17s ljd, 17s 3d, 17s 4d, 17s sd, 17s, 17s 3d, 17s 4d, 17s sd; 17s 4d, 17s 2d, 17s Id, 16s lid, 17s 2d, and' (pref.) £9 14s 6d;-'Bank of Australasia, £11 7s; National Bank of New Zealand, 755, 765, 755, 74s 6d; National Bank of Australasia (£5 paid), £6 16s 6d; E.S. and A. Bank, £5 10s 6d; Union Bank, £9 10s.. Insurance, shares ' wanted included Queenslands at 555, with sellers asking 60s: Australian Provincials had buyers at 20s, and Standards at 665. New Zealands declined 2s on the week, and South British showed a rise to 95s 6d, but closed at 945. Business done was reported as follows: — National Insurance, 19s 3d; New Zealand Insurance, 645, 64s 3d, 65s 3d, 625; South British, 945, 93s 9d, 94s 6d. 94s 3d, 95s 6d, 94s 6d, 95s 3d, 94s 9d, 94s 6d, 945, 93s 6d, 94s 3d. The 5s paid shares of the Mortgage Corporation showed a substantial fall. They reached 5s 9d during the week, and dropped to ss. They sold at up to 6s 7d at the end of August. The encouraging prospects of the wool season have not so far been followed by any eagerness to take up pastoral shares. Farmers' Auctioneering (£5 paid) were inquired for at 78s, and Goldsbrough Morts were in demand at 31s to 31s 6d. Sellers of New Zealand Loan and Mercantile (ord.) were prepared to take £37, but there were no buyers. Wairarapa Farmers (pref.) were inquired for at-2s 9d. sellers asking 4s 6d. Sales in this section were reported as follows:— Dalgety and Co.. £8 7s 6d; Mortgage Corporation, 5s 7d, 5s 6d, 5s Bd, 5s 7d, 5s 9d, 5s 6d, ss; New Zealand Guarantee Corporation, ss; North Auckland Farmers, 2s 2d; Traders' Finance (7s 6d paid), 4s 3d; Wright, Stephenson (pref.), 19s 6d. INDUSTRIAL AND OTHER. Woollen1 and textile shares were in fair demand, with buyers of Tattersfields at 24s 3d and Manawatu Knitting at 395. Wellington Woollens (ord.) were wanted at; £5 17s, but there were no sellers, but the preference isue of this company showed a rise of 2s 6d. Sales of woollen shares were reported as follows:— Kaiapoi Woollen (7s paid). 4s lOd, and (paid) 14s; Mosgiel, £10; Oamaru Woollen, 225; Wellington Woollen ipref.), £6, £6 2s 6d. Some attention was given to coal shares this week when buyers of Taupins at 16s were in the market, and 21s was offered for the preference shares in this company; but no business was reported. Westports had unsatisfied- buyers at 225, and Renowns were in request at 9s 9d, with sellers at 10s 6d. Christchurch Gas shares were in good demand, and business in them was brisk, but the market came back at the close of the week. Sales of coal and gas shares were reported as follows:— Grey Valley, coal, 7s; Kaitangata Coal, 22s 3d; Pukemiro Coal, 24s 24s 3d; Westport-Stockton Coal (ord.), Is Bd, and (pref.), 3s, 2s Bd. Auckland Gas, 26s 6d, 26s 2d" E hn/, tSh^ rch Gas- 35s lld> 365. 35s 9d, 36s 4Jd, 36s 6d, 36s 4d, 36s 6d. 36s 3d 365, and (10s paid), 16s 9d; Wellington (ord.)., 39s 9d. Brewery shares inquired for included Tooheys at 29s and Monteiths at ??• SeUers of Tuis at 44s failed to attract bids from buyers. There was considerable activity shown in inquiry for shares in the big New Zealand company. Sales of brewery shares were reported as follows:—

C. I/. Innes, 20s 6d; Dominion Breweries, 17s Id, 17s. 17s 6d, 17s 9d;, New Zealand Breweries, 555, 54s lOd, 54s 9d, 54s 6d, 565, 55s lid, 55s 6d, 55s 9d, 55s lid, 565, 55s 9d, 55s 3d, 55s Id, 555, 55s 6d, 55s 9d; Staples, 375, 37s 2d, 37s Id, 375; Tooth and Co., 58s, 57s lOd, 58s 3d, 58s 2d, 58s Id, 55s 3d (cum rights); Timaru (7s 6d paid), 9s. TIMBER AND VARIOUS. The turnover in timber shares was but moderate, but there were inquiries for Bartholomews at 16s; LeylandO'Briens ex div at 22s 6d; Nationals at 14s 3d; Rotoitis (ord.), at 5s 9d, and to 5s lOd, arid (pref.) at 20s. The business reported in timber shares was as follows:— Kauri Timber, cum div., 23s lOd; Taupo Totara (16s paid, pref.), 16s, and (ord.), 9s 3d; Freezing companies' shares were on a very quiet market and the business done was small, sales being reported as follows:— Gear Meat, 22s 6d; New Zealand Refrigerating (10s paid), 10s lid; Southland Meat (ord.), 78s. Shipping shares likewise attracted, but moderate attention with inquiries for P. and O. deferred at 21s 9d. Union Steam Ship (pref.), at 27s 6d, and Devonport Ferry at 22s 3d. Sales were reported as follows:— Huddart, Parker (pref.), 295, 27s Gd; Northern Steam. 6s 3d. MISCELLANEOUS. It would not be surprising if New Zealand investors presently gave more than ordinary attention to Australian enterprises, as industrial conditions in the commonwealth appear to be fairly settled and confidence appears to have returned to trade generally in Australia. The good tone of the wool market has helped towards this condition. Business done in th» 'miscellaneous section of the market this week has been reported as follows:— Anthony Hordern, 19s 3d, 19s 4d, 19s sd, 19s 3d; Australian Glass, 85s 3d, 82s 6d, 83s, 83s 3d; Australian Iron and Steel (pref.), 25s 3d. Broken Hill Proprietary, 59s 3d, 58s 9d, 58s Bd, 58s 7d, 59s 3d, 59s 6d, 59s 3d, 59s 4Jd, 59s 3d, 59s 2d, 59s sd, 57s IOJd (ex div), 57s 3d, 57s Id, and (5s paid), 28s 3d, 28s, 28s 7d, 28s 6d, 28s. British Tobacco, 40s 3d, 40s 6d, 40s . sd, 40s 4d, 41s, 40s lid, 41s 3d, 41s 6d, 41s, 40s lid; Beath and Co., 295. Colonial Sugar, £42 7s 6d; Claude Neon, N.Z., ex div., 40s 2d, 40s; Consolidated Brick, 11s, 11s Id, 11s. Dominion Fertiliser, 23s 9d; Dun-lop-Perdriau Rubber, 16s 3d, 16s 2d, 16s Id. Electrolytic Zinc (ord.), 35s 4d, 35s Bd, 35s 6d, 35s 3d, 35s 2d, 355, 34s lid, 34s 6d, and (pref.), 39s 3d, 39s 2d. 39s 4d. Farmers' Fertiliser, 19s 3d, 19s 6d; Farmers' Trading, 7s 4d. General Industries, ex rights, 20s 3d, 20s Id; G. J. Coles, Ltd., 65s 6d, 65s 3d, 65s 6d, 65s 3d, 65s sd. X.D.V. Box (10s paid), 9s 9d. Mt. Lyell, 21s 3d, 21s 4d, 21s sd, 21s 3£d, 21s 3d, 21s 2d. New Zealand Paper Mills, 27s 7d; New Zealand Drug. 80s; New Zealand Newspapers, 42s 6d; National Electric, 13s. Procera Bread, vender, 465; 455, 45s 6d, 455, and (ord.), 455, 44s 6d. Quill Morris, in liquidation, 6s 6d. Robinson Ice Cream, 23s 6d. AVilson's Cement, ex div., 42s 6d; Wool worths, N.Z. (ord.), £5 17s, £5 17s 6d, £6. . Unlisted.—Auckland Farmers' Freezing (£5 paid), £5 12s 6d, and (£1 paid), 22s 6d; Associated Motorists (pref.), 255; Christchurch "Press," £11 2s 6d; New. Zealand AVoolpack, 13s 3d; Tiproff Seal, 56s 6d; Were's Investment Trust, 4s lid, 4s lOd, ss; Woolworths, Sydney, £5 16s 6d, £5 16s 9d, £5 17s £5 18s, £5 17s 6d. , ../. MINING AND DREDGING: ' Except for Mount Morgans, for which there has been a keen demand business has been quiet to" steady in the mining and dredging market. Sales were as follows:— Big River, Is lOd; Brian Boru, 2dBendigo Goldlight, 3£d, 4id Deep Lead, Is 4d, Is 3d. Golconda Holdings, Is 6d; Gillespie's Beach, Is Id. Kildare. 2s. sfT^fii^'o ls °^d; Mt Morgan, 38s, 37s 6d, 37s Bd, 37s 9d, 395, 37s lOd II s 38s, 37s 6d, 37s IOJd, 37s 10d 37s 9d, 37s Bd, 37s 2d, 37s Id Martha^ 21s; Mataki, 2s 4d; Molvneux Dredge, 2s 9id; Mahakipawa Id Okarito, 5s Bd. . Placer Development, £5 5s , Rawang Tin, 9s, 8s lid, 8s lOd. Skippers, 3Jd, 3Jd, 3^d. Talisman Dubbo, 10s 9d, 10s lOd Upper AVatut, 7s Id Wa. lta,hu. Ss Id; Waihi Investments, 16s 3d 16s;, 16s 7d; Waihi Grand Junction, 3s lid; Waipapa Beach, ls 6^d Unlisted—Argo Gold, Is 3d, ls 2idBen Led! (Is paid), Id; Quartz Moui> Pa&.tllfd. 93^ Tav«^old (5s