A SENSITIVE MARKET

Evening Post, Volume CXXI, Issue 115, 16 May 1936, Page 12

A SENSITIVE MARKET

{ STOCK AND SHARE PRICES

during the week with C. L. Innes, Auckland, inquired for at 22s 9d; and Timarus at 14s 3d. Staples had good inquiry. Tuis were in demand at 43s 6d. Sales were as follows:— Dominion Breweries, 22s 9d; New Zealand Breweries (cum div.), 52s 9d 535, 53s 3d, 53s 6d, 53s 2d, 53s IdStaples, 34s 3d, 34s 4d; Tooths, 52s lid. Textile shares were in good demand with appreciations of Wellington. Woollens. Oamarus were wanted at 21s to 21s 6d and obtainable at 21s 9d. Kai-' apois (ord.) had inquiry at 15s 3d, sellers quoting 15s 5d to 15s Sd. Sales were reported as follows:— Bond's Hosiery Mills, 19s 3d, 19s 2d; Kaiapoi Woollen (pref.), 18s'3d, 18s sd; Wellington Woollen (ord.), £6 ss, £6 5s 6d, £6 ss. t The timber market was rather quiet. Taupo Ictaras were wanted at 9s 10d to 10s, but there were no declared sellers. Taringamutu had buyers at 9s. Sales were as follows:— ■ Kauri Timber, 23s 9d, 23s lOd; Leyland O'Brien, 235; National Timber, 14s 9d. .;■ MISCELLANEOUS. There was considerable activity early in the week in Wbolworths, Ltd. (Sydney), shares, and the sequel to this interest was an announcement on Thursday to the effect that the authorised capital is to be increased to £2,000,000 by the' creation of an additional 1,000,000 ordinary shares, and it is proposed to capitalise £421,969 and to apply this sum as a bonus issue of one share for every one held. On the strength of this announcement the shares rose to £9 16s, and in Auckland yesterday a rise of 26s %vas .recorded overnight. - These shares were sold early in the week at £7 17s 6d, and quickly climbed to £8 Bs, closing at £9 16s. The sales of Woolworths (N.Z.), too, were also heavy, and a rise of 10s was recorded on the week. There were no sales reported of the • Woolworth (N.Z.). .preference issue. Thei business done in-the. miscellanea ous section was reported as follows:—Anthony Hqrdernj 19s sd, 19s 10d, 19s 7d; Australian Glass, 89s 3d, 88s, 89s, 89s 3d, 89s 6d, 89s 9d, 89s 3d. Beath and Co., 27s 3d; Broken Hill Pty., 61s, 60s l-ld,'6os 9di 60s lOd, 61s • 3d, 62s IOJd, ,62s 9d,.and new. (10s pd.) 36s 6d; British Tobacco, 39s 9d; ■ 39s 6d, 39s Bd, '3?s:7d, 4Ds, :39s 9d, 39s IOJd. "■ •■■' ■■■'■• Colonial Sugar, £41 10s, £41, £41 ss, £41 10s, £41 2s 6d. Dunlop-Perdriau Rubber, 16s Id, 16s 2d, 16s, 15s lid, 16s 3d, 16s 2d, 15s IOJd. 16s 4d, 16s 2d, 16s 3d; Dominion Fertiliser. 26s 3d, 26s Id, 265, 26s 3d, 25s 9d. Electrolytic Zinc (ord.), 37s 3d, 3?s sd, and (pref:) 39s 6d; Evans Atlas ■.Flour, 255. ' i ■ Farmers! Trading, 9s 6d. ... ■ General'lndustries, 19s Id; .G.; J. ■Coles, 73s 6d, -73s 9d, 745, 74s 3d, 73s 9d, 745, 74s 6d, 74s sd, 74s 7d, 755. Henry Jones Co^op., 40s; Hume Pipe Aust, 17s 3d, 17s, 17s 3d, 17s Id. Myers. Emporium, Melbourne. 31s lOd; Milburn Cement, 42s 9d; Mount Lyell. 24s sd, 24s 6d, 24s Bd, 24s sd, 24s 2d, 24s 6d, 24s 3d; Morris Hedstrom, 25s 9d: N.Z.-Farmers' Fertiliser. 20s 9d, 21s; N.Z. Newspapers, 42s 6d, 435, 43s 3d, 42s 6d; Northern Roller, 255. Quill Morris (1936), 18s 4d, 18s. ■. Stock Exchange Pty., Dun., 39s 6d; Sanford, 3s. ■ - ' " . Woolworths, Ltd. (ord.), £6. £6 Is, £6 0s 9d, £6 2s, £6 2s 6d, £6 2s 3d, £6 2s, £6 2s 6d, £6 4s 6d, £6 ss, £6 10s; Wilson's Cement,-43s 3d, 43s 9d, 43s 6d, 445/47s 6d, 455, 475, 45s 6d, 43s 6d. ~.....' Unlisted. — 6% per cent Auckland Trotting Club (1939-44), £101; Dominion Life Assurance (10s, 6s pd.), 3s 9d; National Tobacco, 675; Pacific Forests, 10s; Perpetual Forests, -645; •■' Shillings, Ltd." (ss' pd.); Bs, ■8s >;4d^Bs 3d,' 7s 6d. 7s-9d, 8s;1 8s 3d, 7s lid, ■ 7s lOd; Selfridges (Australasia, new), .19s Bd, 19s 9d; Woolworths.-Ltd., £7 17s 6d, £7 18s, £7 19s, £8, £B,ls 6d, £8 2s 6d, £8 3s 6d, : £8 4s. £8 2s 6d, £8 Bs, £8 Bs-6d,£B 10s, £8 7s, £8 ss, £8 6s 9d (cum bonus), £9 10s, .£9 16s. ■ . ' .■•■: MINING AND DREDGING. Business in, Mi. Morgans 'this week was fairly active -at' declining prices. As at' April 30, the 'Wellington Stock Exchange reported. 16s Id as• the ap^ proximate price; 'but this week they sold down to 15s 2d in this market, and to 14s lOd in Melbourne yesterday. Sales of mining and dredging shares were as follows: — . ■ ■•■■■: ' Argp Gold, Is 6d, Is 5Jd. ;Big'River;- 2s lid, 2s ,id; Brian Boru,: 2Jd. ;; v.;'. ■ V .. .* Golden Crown, 8s 3d, 8s; 9s Id; Gillespie's Beach, Is 3Jd, Is 3d. King Solojpon," 2s Bd, 2s 7d, 2s 6d. ' Mount Morgan, 15s lid,-16s, 15s 9d, . 15s lOd, 15s"Sid, los lid. -16s, 15s 9d, 15s lOd, 15s 6d, 15s 7d, 15s2d, 15s sd, 15s 23; Maori Gully, Hid; Martha, 20s. . ■/■■■■•■■■- '■■■ Okarito, 3s 6d. Skippers, 3d-. ' Talisman Dubbo, 14s 3d. . . ■ Upper1 Watut, 75.5d,: '7s 3d.. r , ; "Waihi .Investment, .:lls'-.7.d; 'lls 3d; Waihi Grand Junction, 3s 9d. '

A BUSY WEEK' "Evening Post," May 16. j Turnover on the Stock Exchange in ■ general this week has been brisk, but i" the market in most sections indicates a • ,sensitiveness which is far frqm ref: assuring to investors. The general V tendency of investors a week or so x ago was towards Dominion industrial - concerns, but recent political announce'i, ments as .to ' wages, hours, and price. ■i regulation have not been encouraging "i to investors or reassuring to liolders of ;-, such shares. Additional to this local -- uneasiness on the part of shareholders ", is the gravity-of the international polir tical situation. Apart from this sinis- '•■■ ter influence, New Zealand's emergence "- from its economic difficulties was S steady and sound, but it is only too £ apparent from the reflections of the ■? Stock Exchange that the sensitiveness ? of the markets in general is not abating. * However, all things, considered, prices y of bank shares and of investments of - a similar. character are firm, and in Z some instances during the past week 3 there have "been appreciations in the - prices paid for shares in this cate I gory. The Bank of New Zealand, for X instance, had buyers last week at as i low as 43s 9d, but they closed yester- '* day at noon at 465. Business in the J bank share section this week was J rather ,small. Activity was displayed ■* in the Government loan section, and * rises on the week recorded for the X, 4 per cent. (1955) Stocks and Bonds. ' The sales of Government loans were reported as follows:— ;.-;'■ 3J per cent. Stock (1938-52), £103 ■'I- 12s 6d, £103 15s, £103 10s; 3J per JC.;. cent. Stock (1939-52), £103 17s 6d; :;■;•: 4 per cent. Stock C 1940), £102 10s, :>"".■ and Bonds, £102 ss; 4 per cent. ■>'•:■- Stock (1946). and Bonds, £103 los; "':: 4 per cent. Stock (1949), £103 10s; ;;'- 4 per cent. Stock (1955), £105 17s 6d, ?*>■-' £106. £106 2s 6d, and Bonds,,£los v.l*; 12s 6d. '*''■■'' The demand for local body deben;';.l:tures- was -.steady,., and; there was no in-disposing of them—at. a ■j-.price. ' >The sales'of such investments '»}-as reported were-as follows:— •'.' 4} per cent. "Christchurch City :::-, (194042), £102 10s; •4J per cent. "; Wairere Power (1947), £101 10s, •j. (1949), £101 10s; 4} per cent. "Auck- ::,' land Harbour Board (1955). £108 ss; ;"„• 4J per cent. Wanganui City (1958), •'•■•' £104, and (1941). £91 los, £91 10s, :;:; £9i iss. . ■■•■-. "'■-■' Company debentures were also "'sought, with buyers of 7J. per cent. ;;; Amalgamated Brick (1944), Auckland, at £100, sellers-.asking £101 ss.' , The i»vi4J per cent..,tissue;of■ New Zealand ;',.'Refrigerating .(194045)'were also in<'<'quired for at £101, sellers quoting '<•« £103. Sales of company debentures 1 1' were reported as follows:— *v- 4J per cent.'New Zealand Farmers' ';' Co-op. (1940), £92, £91 12s 6d, £92, '■r £91 10s: 6J per cent. Gisborne Sheep './.; Farmers (1941), £101; 7J■-per cent. ?;•; Amalgamated Brick, Wellington V (1944). £99; 4} per cent. New Zea- :&.- land Farmers' Co-op. (1945), £92. :£, BANKS, INSURANCE, FINANCE. ??-:. Bank shares have fluctuated in prices !:■' during the week, and among those '/;■ which have eased in price are ComT'mercial of Australia (ord.) and Bank ■'-'.;'.of New South. Wales. Bank of Ade;'"laide shares were quoted by sellers at i;L.£7, but there .was no response from rj The shares of the Commercial '■.^Banking Company of Sydney had in.Nquiry at £20,.but the lowest sellers' ::v quotation was £20 12s 6d. Sales of iv-bank shares; "ft'ere reported as ;iol■.C'ilowsl.— -,','... .. . .'.,.-'. :^'.h : ' '.■\'' Bank 'at New Zealand, 455,- 45s'-ld, ':'■:■: 455. 45s 3d, 455,; 45s 6d, 465, and D .i long term, 30s; 295, 29s 6d;. Bank of ','/■-.■ New South Wales, £33 2s 6d, £33; Commercial Bank of Australia, 19s :. 9d, 19s 6d, and (pref.), £9 7s 6d, • f £9 7s; Bank of Australasia, £11 18s '.': 9d. £11 19s; National Bank of Aus- :■'■; tralasia (£5 paid), £7,Bs\.6'd; English, "■■'' Scottish, and Australian Bank, £6 .;• 3s 9d: Union Bank. £9,155; £9 15s ';.; 3d, £9 15s. , ~. -. ■' ■" Insurance shares were on a very. '[• quiet market,- with Unsatisfied buyers :. of Queenslands at up to 55s 6d. The ;" record of business done in this section 'i,. was as follows:— • ;; ; National Insurance,-19s, 18s lid; .-;-■ New Zealand Insurance, 61s, 60s 9d; >,'- South British, 90s; Standard, 635. :.- Stock and station companies' shares ■ i were in but moderate demand. After ': a long absence .from the list -of sales. ;■;- New Zealand Loan and Mercantile ; (ord.) reappeared \vith business done >' at £31 12s 6d. Dennys, Lascelles were ■r .wanted at 14s 6d, but there were no >, sellers. Shares in the financial sec-' ■';■;.; tion generally were neglected. ;The. ■ ; sales, effected were reported as, fol;'j lows:— ■''.■'.'' ■■ '■: >i-. ■•- Dominion Investments, 17s :3d; './ Farmers' Auctioneering (£2 paid), ;;■■: 30s, and (B pref.), 21s 9d, 225; New- ;' ton King (pref.), 6Sv6d; Goldsbrough .'■■ Mort, 31s 3d, 31s sd; New Zealand t.;; Mortgage "Corporation, 10s 3d; Na- • ;jr tional Mortgage, 51s 3d; New Zealand ;■ Guarantee Corporation, 5s 4d; New tZ" Zealand Loan and Mercantile, £31 i.-.' ' 12s 6d;. Wellington Trust and Loan, ;y:! £5.6 d. - . ';•; v ,' : COAL, GAS, AND OTHER. i:.'•;"- Pukemiro Coal Mines .were in de- ;•. mand at-225 : 6d, but sellers were/silent. -'.Public/interest in coal-mine invest- • ;,rments is not very keen but business tr?is fairly.steady. Taupiri (pref.) had ii;inquiry.'at 21s butl there were no > -sellers. : Grey Valleys were wanted at ;r;:10s-6d and there were sellers at Is ;;-above;that figure. Sales of coal shares » r :<wer'e; few were confined to the ;;;following companies:— ■.- . jrc,. Renown Collieries, 10s 6d; Westul\. port Coal, 22s 9d. lUV Gas. shares held their own this week. 'i-Gisbornes -wath a dividend of 3d to .vcome -were to be bought for 10s 6d. (pref.) had inquiry at 245, j^.-and early in : the week the ordinary ,>. shares' were wanted at 40s 4d/ There iCwere' quotations from sellers of Col:j;onial Gas at 28s 6d, but no buyers. ...Christchurch were at 33s 6d. •f.Sales of gas shares were reported as ;.;;follows: — .•■:-..■- * " jf.-r- Auckland Gas,:' 265, 26s Id; Wel>i;.; lington Gas (ord.), 40s 9d. , Shipping shares inquiredx for, • but i;-pf which;.rib sales were reported, in- •; eluded P. and O. Deferred at 23s 3d '[.and Huddart Parker (pref.). Sales !<;in thi? section were reported as follU'lows;^ ■■•' ■ '; » ; '~" ■ Devonport Ferry, 21s 6d; Howard ■•;-.: Smith,'l6s 10d: Northern Steam, 6s ;.<; 10d,j.6si9d and (con.) Is 6d, Is8d; ;?/■ Union Steam (pref.),-275. ;'r_ Meat company shares were exceed- '! mgly. dull,', although there were in- ; ; quiries .-for New Zealand Refrigerating ;,.(-£l) at 19s and Canterbury (pref.) ,at £5 10s. Wellington Meat Export . (pref.) were.wanted at 17s 6d, with ~ sellers, at. £1.; Sales were as follows:— ■':■.. New.Zealand Refrigerating (10s), ; 9s 4d. '.-.■■ • "i '-.'■ Brewery shares showed improvement