THE SHARE MARKET

Evening Post, Volume CXXX, Issue 6, 6 July 1940, Page 14

THE SHARE MARKET

SLIGHT RECOVERY

STOCKS AND DEBENTURES

"Evening Post," July 6. " Business on the Stock Exchanges this week has been slack, but a slight recovery was noticeable at the> close. Prices kept fairly near to last week's levels, and more interest than usual was displayed in industrials. War news ' continues disturbing, but the principal • reason for uneasiness felt by investors in New Zealand, as in Australia, is the heavy load of taxation that companies will be called upon to carry; and as to this Dominion the powers taken by the Government to sequestrate all overseas securities or currency held by residents in New Zealand. The matter of advances made on overseas securities is necessarily receiving particular' attention at the moment. So far as it can be ascertained authoritative opinion is that more thought has been given to the drawing up of < these financial emergency regulations than to the very serious results that will follow ~ their rigid enforcement, not only in New Zealand but also to somevextent in Australia. GOVERNMENT LOANS. Demand for Government stocks! continued this week and a fair amount of business was reported. Buyers, however, showed a tendency to shade their bids, but later the market firmed. Approximate prices for Government Loans last July and prices paid, last week arid this week are as follows:—

Interest is due on 3 per cent. (1941) and 3J per cent. (1953-57) on July 15, and 4 per cent. (1946) on August 15. Reported sales of Government Stocks and Bonds this .week were; as follows: — ' 3£ per cent. (1957) £100 10s, £100 ss, £100 4 per cent. (1943), £101, £101 2s 6d. 4 per cent; (1946), £102 12s 6d, £102 15s. . - ■. ■■■■■ '■■•■■ 4 per cent. (1949), £102 15s, £102:10s, £102 12s 6d, £103, £102 15s. .. 4 per cent. (1949-52), £102,17s 6d, £103. 4 per cent. (1955), £102 15s. » . 4 per cent (1958>, £103 2s 6d. Sales were also reported of 4 per cent. Rural Bonds'(l947), £102 10s, and 3i per cent. State Advances (1944), £98. Sales of local body debentures this week as last were heavy, and'included the following, all 4J per cent, loans:— Auckland City (1960), - £104 10s; Auckland Harbour (1954), £105, £104 10s, (1959), £104, (1961), £106 ss; Invercargill City (1945), £102 2s 6d; Christchurch City (1940-47), £102 10s; Auckland Power . (1942), £ 101 10s; North Canterbury Power (1953), £IQ4; Franklin Power (1953), £104, (1963), £106 ss; Waimakariri River Trust (1943), £102 10s; Napier Harbour (1945), £102 ss, (1950), £102 10s, (1954), £102 10s; (1957), £104 15s; (1958), £10,4 15s, (1960), £105 ss, (1953), £105 ss, (1967), £105, (1969), £105, (1972), £105 15s; Napier Borough (1949), £102 15s; 3 £ per cent. Takapuna Borough •.(1954) £94 ss; 3£ per cent. Timaru Borough (1943), £98. Company, debentures : reported sold included 5 per cent. * Auckland Gas (1949), £102, and 5 per cent, perpetual', cum interest £100 15s and ex interest at £98 10s, £98 ss: V. , ; NEW ZEALAND SHARES. Bank shares held their own. during the week, Bank of New Zealand selling at from-38s to 39s 6d. National Bank of New Zealand, had sales tapering from 36s to 355. Business was reported in Bank of New South'.Wales at from £25 to £25 10s, and Bank of Australasia changed hands at ■£8 10s. Considerable business was reported in New Zealand Insurance shares at prices ranging from 54s by pennies to 54s 6d. ' South British kept at,43s 9d; National Insurance, commanded 17s 6d. Pastoral shares reappeared in the sales with Dalgetys.at £6. Prices realised last week and lowest rates paid this week were as follows:—

ttace . <iuiy, Per Tear. 193a. tent. £ I .... 1941 97 5% .... 1953-57 89 1% .... 1941 98%. I .... 194t)-43 99}i [ i... 1943-46 99% : .... 1946-49 98' : .... 1948 98% i. 1949-52 96% I 1952-55 96 , ..... .1954-58" 96% ♦Buyers. week.. meek. & £■ 100 tlOl 100% 100 100 100 . 101 .101% 102 10294 102% 102% — *101% 102% 103 102% r 102%' 103% 103% tSellers. ■ >;

La^tweek. Tills week. £. s. d. £ s. d. Bank of N.Z 1 18 D 118 0 tfat. Bank of N.Z. ... 1 16 0 1>15 ■ 0 .: Bank N.S.W 25 0 0 25.0 0 Bank of A'asla • 8 0 0 8 10 0 S.Z. Insurance ...*. 2 13 9 2 14 0 5. Brit. Insurance ... 230 2 3 9 Sfational'Insurance ..t 0 18 0 0 17 6 Dalgety and Co. ....t 7 0 0 60 0 Newton King, pref. ..• 0 9 0 0 10 0 iVestport Coal t 12 0 10 .6 Jominion Invest. *-...• 0 17 9 0 18 0 SVgton. Gas, pref. .. — 1 J £• ■ Zhrfetcburch Gas .... 15 0 13 1% tVelllngton Woollen . .* 5 17 6 6 2 6 Jomlnlon Breweries ... 190 180 ST.Z.; Breweries .110 0 110 0 iVoolworths -0 13-1% 0 13 6 tfcKenzie's ....*..... 2 1 0 1 19 0 VlacDuffs ..........t 0 6 9 0 5 6 Farmers' Trading ...» 0 17 3 0 17 6 Dominion Fertiliser ... — 1 4 3 S'.Z. Farmers' Fert. ..* 0 18 6 0.19 3 S'.Z. Drug 3 14 0 S 13 0 K.Z. Newspapers * 16 6 16 9 R'llsori's Cement 0 16 0 0 16 0 •Buyer.- fSeller. Business in gold shares was confined to Nokomai Gold, Is 3d, and. Gillespie's Beach, 6d.