PRODUCE & MARKET REPORTS FROM DAY TO DAY

Evening Post, Volume CXXIII, Issue 108, 8 May 1937, Page 12

PRODUCE & MARKET REPORTS FROM DAY TO DAY

STOCKS AND SHARES

A STEADY DEMAND

MARKET GENERALLY FIRM

"Evening Post," May 8.

Business on the Stock Exchanges this ■week r'was moderately brisk and the market for non-speculative investments was generally firm. Turnover for the Dominion as a whole was good and particularly so in Australian metal companies. ■ The effects of the recent disturbances in the London and New York investment markets, especially in the goldmine share section, appear to have passed' away in Australia and New Zealand. . The report of a possibility of the -reduction in the exchagne rate Australia on London was promptly con- j tradicted, and therefore the New Zealand market for Australian, shares had no.time to be influenced. In the event of a reduction of say 1\ per cent, or 5 per-cent, in the exchange rate the New- Zealand value of Australian shares ; would advance as Australian currency would be worth more - than New; Zealand, whereas at present it is at a -slight discount. ■ Inquiry for New Zealand Government Stocks and-Bonds is still keen! and buyers this week.have slightly advanced their bids. Approximate prices of.'these, investments realised a year ago, last week, and this week, were as' follows;— '■•"■' ,• . April 30. Last ■ This '.'■''..". ' 1336. week. week, p.o. ;Tear. ■'.■ ■ £ £ • £ : 3^.1939-43 ....... 101% - 100% SlOl% 3% 1939-52 103V4 SlO2 ' 102 3*4-1941.' -..'......'.... 102*. . . lOfi',2 101VS 3 ,1941 — 93 Vi »" 3%'1953-aT '.-.'-— OS Vi OS 4 1946 . ..... 103 103 103% 4 'IDI9' .......•.'..' 103 . :02% 103 4. .HTm: -....,.;.....--103% 101 V& 104H ".'H-.1 yearly' Interest Is tiu-« May 15 on 3% percent. (1939-43) and 3% per cent. (1941). , ...' :.'■ .* B,<-.buyer; S, seller. Sales of Government loans in, the Wellington market this week to noon yesterday amounted to £10,095, compared with £38,500 for last week and £23,610 for the week ended April 23. WELLINGTON BUSINESS. ' Transactions on the Wellington Stock Exchange this week as reported were as follows:— . - ' Xo. Value. ■ . - '; ; , . . £ Government loans ....*»,.. — 10,005 local body loans — 200 Company debentures — 200 Banks. •.;......■■. 180G , • 5,113 Insurance ..1....,.;.....; 300 452 Pastoral , 200 ' . 384 Financa 2600 617 ■ Mercantile 150 546 Breweries ....... 350 1,030 TreeJing companies '710 44G Shipping :.' 400 ■ 800 Timber 500 782 Industries 2340 8,827 Stores 2252 10,523 Miscellaneous .: 1920 .6,192 Mining ; - ~,;,i,..;.. .Sl's;'; ■ °-083 .... ' 21,703 • £51,402 ■The sales: of Government loans as reported for the Dominion generally this week were as follows: — 3 per cent. Stock '(1941), £97; 33 per cent. Stock (1941). £101 10s; 3J per cent. Stock (1939-52), £102; 4 per cent. Stock (1946), £103, £103 2s 6d, £103 ss;-4 per cent, Stock (1949), £102 15s, £103; 4 per cent. Stock (1955), £104 2s 6d, £104, £104 - ss,' £104 2s 6d. ' ' '■ 5 per cent. Rural Advance Bonds -(1947), £101 10s. , There was nothing'of' particular interest in the local body issues and com T Bany debentures section to report, the business done being notified as foliews:— ■4i per cent. Dunedin City (1939), £101;-4i per cent Auckland Electric Power Board (1945-55), ex int., ■ £103; 4J per cent. Wellington City (1952). £104; 4£ per cent. Auckland . Harbour Board (1958), £105 10s; 4J ' per cent. Tam'aki West/(1963), £105 10s; 4i per cent. Wanganui Harbour. (1949), £100 10s. 5 per cent. Booth Macdonaldi (1947), £75. BANKS, INSURANCE, FINANCE. Bank, shares continue to receive good suoport, but the ordinary shares of the Bank"of New' Zealand to include the final half-yearly dividend due next month closed weaker with sales for this week from 44s 3d down to 445, whereas the range last week was 44s 9d highest and 44s lowest. There was a steady ■ inquiry for the Long-term Mortgage D shares of this bank. Other bank, .shares alsir. meUwith a stfeady inquiry,'and a'fairly, large amoujnt of business was done in this section of the list. Sales of bank shares were reported as follows: — National Bank of New Zealand, 63s 3d, 635; Bank of New Zfealand, 445, 44s 2d, 44s lid, 445, 44573 d, 44s ■2d, 44s ljd, 445, 44s Id, 4ks; and D long term 26s 6d; Bank of Australasia, £12 7s 6d; Bank of New South Wales, £37 10s, £37 15s, £37 12s 6d, £37 14s 6d, £37 12s ,6d; Com-, merciai Bank of Australia, 19s 7d, 19s 6d, 19s sd, 19s 4d, and (pref.), £9 >8s 9d, £9 9s 6d, £9 10s 6d; Commercial Banking Co. of Sydney, £22 15s; Queensland National Bank, £5 14s; English, Scottish, and Australia Bank, £6 10s; National Bank of Australasia (£5 paid), £7 17s; Union .Bank of Australia, £11 ;ss, £11 6s. Interest in insurance shares was confined to New Zealand offifces with unsatisfied buyers- of Standards at 57s 6d, sellers'asking 60s. Sellers of Queenslands quoted 60s sd, but buyers were silent. Business was reported as follows:— ■ National, 17s '7d, 17s 6d; New Zealand Insurance, 61s 6d; South British, 93s 9d. Stock and station companies' shares attracted a. fair amount of attention from investors. Newton King (pref.) had inquiry at 7s 6d and there were unsatisfied buyers of Abraham and Williams (ord.) at 565, with-business done in the preference issue. - Financial .companies shares having Inquiry included New Zealand Investment and Deposit at 9s 9d,' Equitable Building at 10s 3d, i'and New Zealand and River Plate-Lands had buyers at 18s 7d. Sales were reported as follows:—- --:"-.-■ I - . .;■ . i Abraham >nd ,WiHiams (pref.), ex div., 90s; Dalgety and Co., £11 Is, £11 2s.'6d; 'Farmers'1 Auctioneering •(£s,.paid),-90si Goldsbrough Mort, 38s 3d.' 38s' 3dj 38s '2d,- 38s 4d, 38s : 6d,' and (A1 pref.); 235, and (B pref.) 225; New Zealand Lean and Mercantile," £50; Wright, Stephenson (pref.), Zls;. National Mprtgage,'A, 535; North Auckland Farmers' Co-op., 3s, and (B pref.),.lls=9d; .New Zealand Guarantee Corporation;' 4s" 9d, 4s lOd, 4s -"9d. '•■ } : ... „ '. BASE. METALS. •'■ The market r.i or .Australian base metal companies' shares closed on substjntially higher prices. Business done as reported; will- show the appreciations made .during the week, sales being'as follows: — Broken Hill Priprietary, 80s 3d, 80s', : 79s .6d, 79s 9d, 81s, 80s 6d, 80s

9d, 81s, 81s 3d, 82s, 81s 9d, 81s 6d 82s 6d, e>j; 82s 4d, 33s 3d. 83s, 82s 9d, His Id, 84s, 83s 6d, 83: 9d, 83s, 84s, 83s lOd, 83s lid, 83s 6d and (con.), 72s 9d, 735, 725, 72s 6d 72s Bd, 72s 9d,.735, 76s 6d, 775; Broker Hill South, 465, 48s 9d, 49s ljd (curt div.) 51s Ud, 48s 6d, 50s 4d,' 50s 6d 50s 9d, 50s lOd, 51s 6d, 51s 9d, 51s 6d, 51s sd, 51s 6d. .-: Electrolyse Zinc, 575, 56s 3d, 57s 3d, 58s 3d, 595, 58s 9d, 58s 4d, 58: 7d, 58s 6d, 58s 7£d, 595, 58s 9d, 58s Bd. 58s 7d, 58s lOd, 58s lid, 59s 6d 595; and' (prcf.) 57s 9d, 575. 57s Id 58s 6d, 58s 3d, 58s 4d, 58s 6d, 59s 6d ■59s 3d, 59s sd, 59s -6d, 60s, 595. | Mount Lyell, 44s 6d, 44s id, 44s lid 44s lOd, 44s 9d, 45s 3d, 45s 4d, 45; sd,- 45s 6d, 465, 45s 9d, 46s 3d, 46: 9d, 46s 6d,,46s lid, 475, 45s lOd, 46: 7d, 46s Bd, ,46s lOd. 46s lid, 46s 3d 475, 46s sd' 47s 6d, 47s 4d, 46s 9d 475, 47s Id, 47s 3d, 47s 6d. 47s 9d, 47: 6d, 47s 4d, 47s 6d, 47s 9d, 47s lOd 47s 9d, 48s; Mount Morgan, 15s, 14: lid, 14s lOd, 14s 9d, 15s, 14s lid, 15: Id, 15s 2d. . : North Broken Hill, 765, 76s 6d. • Rawang Tin. 11s 6d. 11s lOd. DEPARTMENT STORES. Retail companies, including chair store enterprises, have received, muct attention this week and marked ap: preciations are shown in the share; of some of them, especially in Cole; and Woolworths, Ltd., and Shillings Ltd., made a sharp advance. Sales were reported as follows:— ' : Anthony Hordern, Sydney, 20s 20s 3d, 20s 6d, 20s sd. ■' :■ • , David Jones, Sydney, 45s 4d; D.I.C (ord.), Dunedin, 16s 9d. . Edments, Ltd., 435. ■' .'■ ', Farmers'- Trading, Auckland, 21s 6d. and (B pref.) 23s 3d. : G. J. Coles. Melbourne. '£5 ss, £; 4s 3d, £5 6s, £5 5s 9d; £5 6s 3d £5 7s, £5 6s, £5 7s 3d, £5 6s 6d £5 7s 6d, £5 7s 9d, £5 ■"6s 9d. £.1 7s, £5 7s 6d, £5 7s 3d.; £5 8s; £c 9s 6d, £5 10s, £5 9s, £5 9s 9d, £c 9S. ' ■■ . : •' ■■■ "•■ ■-■ -• Macduffs (pref.), Wellington, 23: 6d; Milne and Choyce (debs.), 16s 3d; Macky, Logan's (ex div.), Auckland, 22s 4d. ' Shillings, Ltd., Wellington, 17s 6d 18s 3d, 18s sd, 18s 6d. 18s:7d. Woolworths, Ltd., .Sydney (2nd pref.), 27s 9d; Woolworths (N.Z.) Wellington, £8, £.8 Is 6d, £8 0s 6d £8 0s 3d, £8 0s ?d, £8, £7 19s. Unlisted: — .'■ , . >. • Self ridges (A'asia), old, 34s 9d 34s 3d. " Woolworths, Ltd.', £7 ss, £7 4s £7 4s 6d, £7 5s 6d, £7 ss, £7 5s 3d £7 6s, £7 5s 9d, £7 7s, £7 10s, £ ri 13s 6d, £7 14s, and (rights), 945, 93s 95s 6d, 96s 3d, 975, £5, £5 Is, £5 3s BREWERIES. Brewery shares had a good inquiry ,wlth unsatisfied buyers of Staples anc Co. at ,355,: sellers quoting 36s 3d., C L. Innes.were wanted at 255. Sales oi shares" in this section of the list were reported as follows: — ' Carltori Brewery, 63s '4sd; Dominion Breweries, 435. 42s 6d, 42s 5d ■ Dunedin Brewery, 28s; New Zealand Breweries; 59s 6d. 59s sd, 59s 59; 6d, 60s, 59s 10d, 59s 6d. 59s sdi Swar Brewery (5s paid), 32s 6d;, Tooth and Co., 575. 6d, 575. 5Ss 10d ; VARIOUS INDUSTRIALS. . Woollen in general were slov. to move. Yarra. Falls, a Melbourne company, had buyers at 41s 6d anc sellers ready to take 42s 6d, and alsc lls 3d for'rights ,'to' new 'shares Oamaru'and Timaru woollens were both to be had at the same price,' name ly, 20s, but there were no buyers. Sales of textiles were as follows: —; Kaiap'oi Woollen (paid), 14s; Mos giel Woollen, £10 ss; Wellingtor Woollen (ord.), £5 15s; Felt anc Textiles, 435, 34s 9d.. ""Y ■/•' ' . The turnover in shares other thar those above-mentioned was relativelj smaH. Sales were reported as follows:— Coal.— Taupiri, 16s 9d; ' Westport 23s lid; Westport-Stockton (ord.), 2: B*l, 2s 9d, 2s Bd, and (pref:). ss, 4: l'Od, 4s Bd, 4s 9d. Gas.—Auckland (15s paid), ■ 14s lid, los, and (paid), 20s 6dj Shipping.—Hutldart, Parker (ord.) 40s; Union Steam .(pref.), 27s 3d. Freezing Companies—Canterbury Frozen Meat, £9 7s 6d; Gear Meat 16s; New Zealand Refrigerating (£] paid), 19s 4d, and (10s paid), 8s lid 9s, 8s lid. Timber. —Taringamutu, los 2d. MISCELLANEOUS. ' As will be seen in the reported sales under this ..heading, the - choice; of ■in vestors covered a fairly wide sectior of Australian equities. The sales were as under:— Australian Glass, 88s 6d, 89s 6d, 91s 90s 6d, 93s 6d; Australian Iron' anc Steel (pref.), 26s 6d. British. Tobacco, 49s 6d, 495, 49s Id ,49s 3d, 49s 6d, 40s 2d, 49s- 3d;v Burns Philp, 725,,' 72s ?*; Bycroit, Ltd;> 40s ;-.S9s---6d. '■'■ ■' ■' . V : ? ' Consolidated Brick, Bs, 7s lOd, 8s 3d, 8s 4d, 7s lid, 8s 2d; Colonial Sugar, £45 ss, £45 2s 6d, £45 7s 6d £45 10s, £45 15s; Claude Neor (Syd.), 53s 9d.. Dunlop-Perdriau Rubber, 20s 9d 20s lid, 20s lOd, 21s. : Farmers' Fertiliser, 21s. , '■.-■ General Industries, 20s 4d, 20s 6d Kandos Cement, 24s Id. - Hume Pipe (Aust.), 19s 3d, 19s 4d Mort's Dock, 13s, 13s Id, 12s 9d, 13s Morris Hedstrom, 295; Milburr Cement, cum div., 37s 6d, 37s 4d. N.Z. Paper Mills, 37s 6d. cum div. 37s 9d; N.Z. Drug, 72s 6d; National Electric, 14s. Waldas Shoes, 21s 3cf; .Wilson's Cement, 32s 6d. ■ • . ;• Unlisted. —Australian Provincial Assurance, 12s 6d; Alloy Steel (Aust.) 19s 9d; Auckland Farmers' Freezing (£5 paid), £5 lls, £5 10s; Ballin's Breweries (15s paid). 14s sd, 14s, 13s 3d; N.Z. Perpetual Forests,; 445, 41s 41s 3d; Reid Rubber Mills (lSs'paid), 235; Were's Invest. Trust, 6s 4d. OIL.

Taranaki (N.Z.) Oil Fields, 3s lOd, 4s, 4s 2d, 4s 6d, 5s 2d, 5s"14d,! 5s 3d, 4s lid, ss, 4s lOd, 5s Id. ' '.

MINING AND DREDGING,

Sales of gold-mining and ; dredging shares were as follows: — . ■. •

Argo Gold 2s; Big River, Is 6d; Consolidated Gold, 10s lOd; Gillespie's Beach, Is 5Jd, Is 6d; Golden Sands, Is lOd; Martha Mine, cum div., 19s, 18s 9d, 19s; Maori Gully, 51d, 5Jd; Mataki, 8d; Nokomai, 2s 3d; Okarito, cum div., 3s; Placer Development, 93s 6d;. Sandhills, Id; .Waihi Investments, 12s 6d; Waimumu Sluicing, Jljd, Is. Unlisted.—Grey River (3s 9d.paid), 4s 3d, 4s 2d; New River, 7id, Bd.