IMPROVED BUSINESS

Evening Post, Volume CXXIV, Issue 135, 4 December 1937, Page 13

IMPROVED BUSINESS

INVESTMENT MARKET

INCREASED TURNOVER

"Evening Post," December 4.

More settled conditions than usual ■of late characterised the stock and share markets in New York and London "this week and in addition the international political outlook has improved, excepting' in the Far East, where the tension remains high. I . The New Zealand stock exchanges have reported business as fairly active throughout the week, especially in Australian base metal shares and, latterly, in chain stores. Bank shares, however, excepting those of the Bank of New Zealand, continue in slow demand. An improved tone in the markets generally, however, was noticeable at the end of the week and the direction of prices was upwards. A better feeling was shown at the Napier wool sales arid this should do something to- counteract the depressing effects of the lower prices registered in Auckland last week, when comparison was made with-realisations at the first sale of the season held in Auckland last year.

Income tax. Half-yearly interest Is due on 4 per cent. Stock and Bonds (1955) on December 15; and on 3V& per cent., 1953-57, on January 15.

Sales of Government Stocks and Bonds as reported for the week were aS 3i Oper7ent. Stock (1938-52), £101 7s 6d, £101 ss, £101 7s 6d, £101 ss; 3i per cent. Stock (1953-57), £98 7s 6d, £98 ss; 3i per cent. Stock (1939----52), £101 ss; 4 per cent. Stock (1943----46), £103; 4 per cent. Stock (1949), £103. . ' " Sales of local body and company debentures were reported as • follows:— 6i per cent. Auckland Transport (1942). £101 10s; 4i per cent. Auckland City: (1944), £104; <U per cent. Christchurch City (1940-50), £102; 4i per cent. Waimakariri River Trust (1 4jl) per cent. N.Z. Refrigerating (1940-45), £103; 4* per cent N.Z. Farmers' Co-op. (1945). £91 10s. BANKS, INSURANCE, FINANCE.

Sluggishness was seen in the bank share market, with sellers quoting tb 5s for Bank of Adelaide, and £11 for Bank of Australasia, and buyers not interested in those prices. E.S. and A. Banks were inquired for at £.o 6d, but sellers asked £5 9s to £5 Us for these shares. Commercial of Sydney had buyers at £19 10s but sellers demanded £20. National of Australasia improved and were inquired fpr at £6 12s 6d for £5 shares and £13 12s 6d for the £10 fully paid, but sellers' ideas of value were £6 19s for the £5 and £13 16s for the £10 shares. Commercials were hard to sell and Unions were slow in- moving. Bank of New South Wales made a slight advance. Sales of bank shares were as follows:— • ■ •

Bank of New Zealand, 44s 6d, 44s Bd, 44s sd, 44s 6d, 44s Bd, 44s 4d, 44s 6d. and D long term, 30s, 30s 2d, 30s Id. 30s 3d, 30s 4d, 30s 2d, 30s ljd. Bank of New South. Wales, £32 7s 6d, £32 2s 6d, £32, £32 ss. Commercial Bank of Australia, 16s 9d, 16s lOd, 16s 9d, and (pref.), £9 13s 6d. ' National Bank of New Zealand, 565.

Uaion Bank of Australia, £9 6s, £9li.

Insurance shares were on a slow but steady market and were firmly held. Nationals were quoted by sellers at 17s 6d to 17s 9d but there was no business reported at those prices. Sales were reported as follows:— *

New Zealand Insurance 64s 6d, 645; Standard, 59s 6d, 60s; South British, 98s 6d.

Stock and station companies' shares were in moderate demand with Dalgetys available at £9 15s and Wright Stephenson ord. wanted at 22s or the oreference at 20s 6d. Goldsbrough Morts improved on the week. Business was stagnant in the financial section. Sales were reported as follows:—

3aiesi of stocks and shares in "Wellington this week were well up on C.^se of last week, when business was of the value of £22,000. This week it approached £54,000, with £19,650 m sales of Government loans:— No. Value. £ Government loans — 13,050 ' Bank's 1,421 4,33fi Gas 415 271 ' Breweries 850 1,727 Industries' ' 4.22(1. 9,829 .Stores .' ...1(1,27.'. 13,553 Miscellaneous 1,778 3."SO Mining- 550 350 ■'Oil ' 600 195 20,107 £53,691 GOVERNMENT LOANS. Transactions in Government Stocks and-Bonds' were few and the market was rathe&'easier than before, but some comparatively large amounts changed hands: • - Approximate prices realised during.the month of October last, those of last- week, and those reported for this Week, are as follows:— ■■■■'■' ' last This P.c. ' • Year. Nov. 1. week. week. 3 1941 08% *98 *!)8 v-'i .::..:: 1957 *98«. «s% nsv* 3»i> ' 1D43 "10114 101 *101 S1^- ....-..-. 1952 10414 +102 10H4 3.',i 1941 101 *100 '1001'r 4 ,... 1946. 103 103 103 i .1040 102U 103 103 4 1955 lOSVi 103H '104 *Bur*rs; tSellers. Interest on 3^ per cent. Stocks -and Bonds,. 1043 and 1952, Is free of