BUSINESS IN SHARES

Evening Post, Volume CXXVIII, Issue 121, 18 November 1939, Page 16

BUSINESS IN SHARES

MARKET STEADY

JMPROVED TURNOVER

"Evening Post," November 18

Trading on the Stock Exchanges of v the Dominion has been generally active throughout the week. At some calls business has been slack but the number of sales has been greater and the fields covered rather wider than they were last week* indicating more enterprise on.the part of investors and not an increase in their confidence. Not all sales effected are reported, so that it is not possible to give an exact" account of; the business done or the number of shares changing hands, but from such information as has been published it appears that the turnover as a whole for this week is greater than that of the week before. Certainly more buy- ■ ers are in the market, and in a large number of instances prices at which business has been done are higher thanlast week's highest. •^Australian markets have been active all the week with better prices and a good volume of business especially in industrials. To some extent these improved conditions have been reflected in New Zealand.^ An • indication, pf^the readiness to invest in approved securities was furnished this week ifi the over-subscription of the

Auckland: Gas Company's 5 per cent, loan of £120,000 with, a currency of -' ten years.' Subscriptions closed 15.days before the advertised date. Advances have been made this week in prices paid for bank and insurance shares and, increased interest has been sh,own in New Zealand' textiles and breweries:: and shares of some other local J companies have received more attention! than usual of late. The lowest prices paid in New Zealand this year for representative investments are given as from the official record of the Stock Exchange, and compared with the lowest and highest prices reported as paid this week.

GOVERNMENT LOANS. Reported sales of Government Stocks and Bonds have been more numerous this week and the demand for such investments' continues keen. The prices paid for Government Stocks and Bonds ja year ago and those at which business was done last week, and closing prices this week, ■ are as follows: —

Half-yearly interest on 34 per cent. Stock (1952), 4 per cent. (1948), 4 per cent (1949-52), and 4 per; cent. (1954-58) was paid on November 15, and is due on 4 per cent. (1955) on December 15. ■ Reported sales of Government Stocks and Bonds this weeß were as follows: — 3 per cent (1939-41), £98 10s. 3J per cent (1953-57), £92, £92 10s, £92 17s 6d. 4 per cent. (1940-43), £99 ss. 4 per cent (1946), £99, £99 10s, £99, £99 ss, and Bonds, £99., . 4 per cent (1948)., £100 17s 6d, £101. 4 per «ent. (1949), £98 2s 6d. , 4 per cent (1949-52), £98 10s, £97. 4 per cent (1955), £98 17s 6d, £99 _%.$» cent (1954-58), £98 2s 6d. SALES OF DEBENTURES. ' Business in the debenture market was almost entirely confined to Auckland. Interest in 4| per cent, local body loans is mainly, for city issues. Sales. of investments in this section included: Auckland City (1944-62), £101 10s; (1944-48), £101 15s; (1944----45), ,£lOl 15s; Auckland Harbour (1943), £101 10s; Mt. Eden Borough (1942-47), £100 10s; Mt Roskill. Borough (1968), £98; Christchurch City j (1040-49), £99 17s 6d,—Heathcote County (1941), £101 ss; Ngaruawahiai (1959), £97. ! . . . . Company, debentures inquired for included 5 per cent. Pyne, Gould, Guinness Ist Mortgage at £99, witti sellers at £101: 6 per cent. Renown Collieries at £95; Dominion Fertiliser, 6 per cent. (1941), at £100 ss; 4£ per cent New Zealand Refrigerating (1940-45), at £95, and 4i per cent. New Zealand Farmers' Co-op. (1950 and 1955) at £78 17s 6d.

■T-. BANKS, INSURANCE, FINANCE. ■'" Bank of New Zealand shares cum interim dividend of Is reached 41s at the close of last week, but since moved up to 41s 9d. . National Bank of New Zealand lm- ■ 'proved with sales at from 43s to 44s 3d. Bank of New South Wales sold at £30, rising to £30 10s. For shares on the Sydney and Melbourne registers £30 was bid, sellers £33 Commercial Bank of Australia were steady at around 16s 3d, but also snared "■ in the upward movement, closing at Union Banks had buyers at £7 12s 66. to £7 14s, with sellers quoting £8 ge . - ' Bank of Australasia sold at £8 15s and were wanted at £8 10s. Commercial Bank of Sydney shares •'■•■were'on the up grade, having buyers at £20 12s 6d,-sellers advancing then twice from £21 last week to £22 and no sales reported. . ... ES and A. Bank, with the interim dividend of 3 i per cent, announced, .made £5 and sellers quoting £5 2s. « New Zealand Insurance were firm at *<595: South British dropped from 47s 3d to sales at 46s 3d to 46s 6d. Queensland Insurance had unsatisfied buyers

at 58s, and Standard of New Zealand at 55s to 565. Stock and station company shares wanted included Dalgetys at £6 11s, with sellers £7. The only actual business reported was in Goldsbrough Morts at 325, showing no difference on the closing price of last week. No business was reported in the financial section. INDUSTRIAL AND OTHER. Increasing interest is being displayed in textiles shares with a moderate amount of business reported. Gas shares had better inquiry than of late. Coal shares were sparsely dealt in but at rising prices. Shipping shares wanted included P. and O. deferred at 26s 6d and Union Steam, pref., at 24s 6d. Sellers of New Zealand Shipping quoted £12 10s, but buyers were not interested. There were sales of Huddart-Parkers at 63s 6d, an advance of 9d on the week. Northern Steamship selling at 3s 3d showed no change. Devonport Ferry commanded business at 225. The freezing industry attracted a little attention with sales of New Zealand Refrigerating (10s) at up to 9s, the same price as last week. Buyers of Gears offered 12s 9d, showing an, advance of 3d on the week, but there were no sellers. Canterburys had buyers at £8 16s 6d, but no sellers. This price showed a rise on last week's sales pi Is to 2s a share. In other industrials there were sales of Wilson's Cement at 19s, a rise of 6d on* the week. Consolidated Bricks improved from 8s 6d to 8s 7£d. x A fair amount of business was done m Dominion Fertilisers at from 25s t0.25s 3d. AUSTRALIAN INDUSTRIES. Buyers of Colonial Sugars still think them worth £52 and business was done this week at that figure and up to £52 17« 6d. Broken Hills had considerable business at from 82s to 83s 6d, but mainly around 83s. Australian Consolidated Industries contributing, were sold at 14s 3d to 14s 6d. DunlopPerdriau kept at 225. METALS SHARES. j The amount of business: done in Australian base metals shares was only moderate but fully representative with i Mount Lyells up to 33s 6d, Electrolytic j Zinc (ord.) to 63s and pref 63s 6d to 645. Broken Hill South sold at 32s 3d and North Broken Hill at 50s. Tin was represented by sales of Ra^wang at 11s. • ! RETAIL STORES. j ' Woolworths, Ltd., at 25s to 25s 4d were about the same as last week and Woolworths (N.Z.) held at 17s 9d, also showing but little change. Macduffs (ord.) advanced from 2s 6d to 3s. MeKenzies held firmly at an advance to 425. G. J. Coles had a little business at Detween 80s and 80s 6d. BREWERIES. A little more interest than usuai was shown in brewery shares with Dominions on the rise from 32s 6d to 32s 9d. New Zealand Breweries were dearer this week with sales at between 36s Id and 36s 3d. Tooths sold at 575. Ballins (15s paid) made 9s 2d to 9s 3d. , OIL. Taranaki (N.Z.) Oil Fields had a comparatively good turnover at from 6s Id to 6s 6d, and the rights to Taranaki Oil Developments sold at 3d to 4d. GOLD. Quite small trading was done in gold dredging and mining shares, New Zealand companies represented being Marthas at 8s 6d, Ngahere 25s 6d, Grey Rivers at from. 16s lOd to 17s.

This Year. This Week. - . > Lowest Low. High. £ s. d. £ s. d. £ s. d. Bank of X.Z. . 1 IT 0 2 10 2 19 Xat. of X.Z...... -233 230 243 Bank X.S.W. . 29 10 0 30 0 0 30 10 0 Australasia ... S 10 0 S 10 0 8 15 0 . Coram. Bank .. 0 15 7 0 16 2 0 1G 5 E;S. '& A. 4 5 0 4 16 6 5 0 0 X.Z. Insurance 2 10 6 2.18 9" 2 19 0 Si Brit. Insce. . 2 113 263266 Xat. Insce. .... 0 15 3 0 17 7 0 17 3 . Golds. Mort ..163 — 1 12 0 Auckland Gas . 0 14 3 0 15 9 0 16 1 Chen. Gas.... 12 3 15 0 1 5 C Wgtn. Gas .... ISO — *1 8 6, Pom. Fertiliser 136 150 156 Farmers Fert. . 0 16 0 — 0 17 0 j Westport Coal . 1/0 0 — 117 Felt & Textiles /ll 0 . — 2 1 0 Wgtn. Wool .. 4 10 0— a50 . iMosgiel Wool .. 9 10 0 — *9 5 0 \ Bruce Wool .. 0 10 5 — 0 16 • 0 fKaiapoi Wool . 0 8 0 — *0 12 0 Oamaru Wool . 0 12 6 0 15 3 0 16 6 Canty. Meat .- 8 15 0 — 8 la 0 -X.Z: Befrig, 10s 0 6 5 0 S 10 0 9 0 N.Z. Breweries 1 11 0 1 16 1% 1 16 3 Domin. Brew. . 1 8 9 112 6 112 9 0) 018.... 0 1G 4 0 17 S 0 17 9 , t 8 ! 5 „ ! g 4 G. J. Coles .... 3 8 0 4 00 4 0 6 JtcKenzies .... 2 0 6 — Sfc— US oli e Si! o Dunlop 0 18 0 11912 0 .Blectro. Zinc „ -Jj , (ord.) 2 3 6 - 3 3 0 Brit. Tobacco . 2 4 6 — '"".» ♦Buyers.

■'■' ■'%'.'■ Per Year, cent. 3/*.. 1941 "3%i,. 195T .SrV. 1941 . 4 ■:..' 1943 - 4 ., 1946 4 •.*. 1948 .•4 ,. 1949 4. .. 1'952 4, _ 1955 4 ■■•■'». 1954-58 Dec. Last. 1938. week. £ £ 96 *98 ■ 93 92% 9D 100 —' - 99% 99 99 - — - - 100% 9S 97% ' 97% ■ ' 98% 99 , *97% ■ — ... ,98 ♦Buyers. This week. S, 98% 92% ♦100 99% 99% 101 981/g 98% 99% 98%