INVESTMENT MARKET

Evening Post, Volume CXXIX, Issue 65, 16 March 1940, Page 16

INVESTMENT MARKET

DEMAND FOR LOANS

OTHER BUSINESS QUIET

"Evening Post," March 16,

What with St. Patrick and his day, the Wellington races,', the proximity of the Easter recess, and the far from reassuring industrial and political situation in Australia business on the Stock Exchange this week has been patchy and in small patches at that. The exception, however, has been the demand for and turnover in New. Zealand Government loans. In addition there, has been the highly gratifying response of the public to the example set by the Bank of New Zeaiand in lending the Government for defence purposes £1,000,000 free of interest for the~duration of the war and six months afterwards. Sums ranging from a few 'pounds to £100,000 have been so lent, additional to the £1,000,000 above referred to, and the total is over £1,200,000, all free of interest and for defence. Parallel with this practical expression of patriotism has been intensified the demand for Government loans of all maturities, but chiefly for the 4 per cents. How much these have appreciated during the past twelve months will be seen in the table following. The prices reported paid for Stocks and Bonds a year ago and those at which business was done last week, and closing prices this week, are as follows: — Rato Mar., Last This Per Year. 1039. week. week, cent. ■ £ £ £ 3 .... 1941 96% 99% *99 3V>* .... 1910-57 91% 95 ■•05% sit-- ..'.. 1941 99% 101/s 101% 4 * .... 1940-43 — 102% 103 4 ... 1943-4G 98% 101% 102 i :::: me^ 99% 102% m* 4 . t1948 — 101% 103 Vi 4 .... -1949-52 99 102% 103% 4 1952-55 99*4 102% 103% |:,■: .I 1954-58 - 102 • 103% *3uyer. tDcatlj duty. interest was paid on 4 per cent. (1940-43) yesterday, March 15, and is due on 4 per cent. (1949) on April 15 next and on 4 per cent. (1949-52) and 0n,33 per cent. Stock (1941) on May Reported sales of Government Stocks arid Bonds this week were as fol°S S per cent. (1941), £101 ss. 4 per cent. (1940-43), £103, £102 ss, £103 "•.■■' 4 per cent. (1946), £101, £101 Js, £101 15s, £101 12s 6d, £102, £101 15s, £4°per 2ce 6nt (1948), £103,. £103 5s 4 per cent. (1949-52), £102 10s, £103 5S 4 percent' (1949), £102 10s, £103 ss, £103 <4 per cent. (1955), £103 ss. n ' ■ f per cent. (1954-58), £103, £403 ss. Local body debentures, especially for urban and main port harbour issues, were exceedingly quiet and no sales were reported. There were lnquinesfor company debentures, and among the sales notified were 6 per^ dent. Amalgamated Brick, Auckland (1944). £100 10s; 5 per cent. Auckland Gas (1949), £102 15s, with inquiries for 6i per cent. Gisborne Sheep Farmers (1941) at £96 and 5 per cent. Booth Macdonald (1947) at £68. of 4£ per cent. John Fuller (1949), unlisted, were reported at £50. THE SHARE MARKET. The prices paid in New Zealand last year for representative shares, taken from the' official record of the Stock Exchange, are compared with the lowest and highest prices reported up to first call in Wellington yesterday. Last year. . This week. ■ Low. High. , ■■;.-■-■ £ s. d £ s. d., £ s. d. Bank&— '■■■ • Bankof N.Z. . 117 0 2 14 2 2 0 Kht of N Z " 2- 2 0 — 2 a 6 Bank6f NS.W. 28 10 0 SO 0 0 30 5 0 E.S. &A. Bank 45 0 — •;>. 1 3 Bank of A'asia. .8,10, 0 — 10 0 0 Union' Bank ... 7 3; 6 — 8 2 0 Com. Bk. Aust. 014 2 016 6 0 16-7 Bk. of Adelaide — — 6 0 0 Insurance — S. Brit. Insur .213 — 2 9 6 N.Z. Insur. ... 210 6 — 320 Pastoral—.. . N Dalcetv 640 — v 7 2 6 Ne4 fitonKin ß pf. 0 8 0 0 8 3 0 9 0 Ooldsbr. Mort . 111 3 19 9 110 6 WStephen.V pf.. ..0 IS 9 s - • 018 3 WSt e ephcn:, 6fd. ■0 W 9 - 019 0 Coal and. Gas— Auck. Gas 014 9 0 17, 1 017 2 Chen. Gas (10s) 0 -12 6 — 012 3 Textiles— Bond's Hosiery 103 — I 1 a Wgtn. Wool. . 410 0 6 0 0 6 5 0 Kaiapoi ..... 0 8 0- 013 9 014 0 Transport— . , Union S.S. pf. 14. 6 -'i ? « Devonport Ferry 1 0 6 — l i » Howard Smith 018 6 1 6 6 1610% Northern Steam 0 3 3 — 0 3 7 (freezing Companies— &Z:BeM&-£l- 014 6 019 9 019 11 N.£. Befrig. 10s . 0 6 5 — 0 » « Gear ....../. 011 0 — 014 2 1 South Otago ..: 4 5 0 — 5 0 0 ( Cah'ty. (pf.) • 517 6 '.— 614 0Breweries — N.Z. Breweries 111 0 116 7 116 9 Ballins (con.) .086 — 013 0 { Retail Stores— I Farmers' Trdg. 016 6 019 0 019 3 G. J. Coles ..380 319 6 4 0/3 1 Woelw'ths, Ltd. 118 147 14 10 Woolw'ths, N.Z. 016 0 016 9 017 0 Woolw'ths Prop. — — 1 o « McKenzie's ... 2 0 0 2 4 6 2 5 9 Macduffs (ord.) 0 2 0066 0 711 Macduffs (pf.) 0 5 9 014 9 014 11 N.Z. Industries— Bycroft ...... 115 6 — .210 Booth, McDon- „ „ „ aid (Pf.) ..016 - ?23. Dora. . Fertiliser 13 6 — 1 7 3 ; N.Z. Drug .... 3 4 3 — '4 0 6 ' -Wilson's Cement 015 3 018 10 "0 19 0 1 Consol. Brick 0 7 9 0 9 2 0 9 3 Donaghy Hope 2 2 0' — 212 0 N.Z. News. ... 1 8 0 — 17 3, Iteid Rubber . 13 0 — 1' 4 6 j Whitcombe, Tombs 2 16 . 0 — 2 17 6 j Australian Shares— 2 Broken Hill Pty. 215 0 211 6 213 0 ) Col. Sugar ... 47 5 0 55 5 0 55^10 0 Aust Jgbrisol. Ind. — 2 13 2 19 Brit. Tobacco 2 4 6 2 12.6 213 0 United Prov. . 09 00 96 0 98 Bank-shares showed no outstanding ! changes in the market, but the demand for them, was weak. National of Australasia (£io) had buyers at £13 10s and sellers quoting £14. Commercial of Sydney were to be bought for £21. Insurance shares were hold steady, < but well. ■ • ' . -■ . Sales of shares not particularised in the above tai/le included X.D.V. : Boxes, 8s; Sanford (pref.), 14s 3d; j Whittome Stevenson, 21s; Dominion Investment and Banking, 17s 6cL AUSTRALIAN INVESTMENTS.',

Australian shares received . con-; siderabie attention with a good turnover in Broken Hills, which opened with sales at. 51s 6d, .reached 535, and closed at. 525: Australian Consolidated Industries rose during the week from 41s to 41s 9d. Colonial Sugars showed little change on the week, selling at £55 10s down to £55 55.. British Tobaccos were steady at around 535. Hume Steel (pref.) sold at 23s 3d, and Dunlop-Perdriau made 21s 3d. Wilcox Mofflin had.a sale.at 7s Bd. Oil, AND. GOLD.

Improvement in Taranaki (N.Z.) Oilfields was shown in sales at up to