STOCKS AND SHARES

Evening Post, Volume CXXX, Issue 30, 3 August 1940, Page 14

STOCKS AND SHARES

BUSINESS THIS WEEK

AUSTRALIAN SECURITIES

"Evening Post," August 3,

The principal event in the share market this week has been permission granted by the Government to resume trading in New Zealand in Australian - and other overseas securities under certain conditions. Such dealings, however, must be as between residents in New Zealand and securities registered overseas cannot be dealt in until the selling broker has obtained • permission from the Reserve Bank. Time will show whether the new regulations will restore confidence, also facilitate business as between New .Zealand buyers and sellers. ' Dealings in overseas securities were suspended on April 11 last, but were subsequently restored. Yet only a few of the shares were then quoted.' The object of the firgt ban was to close the door on "black" exchange transactions. However, resumption on even a limited scale of business in overseas securities did not follow. This prohibition not only deprived stock and share brokers of the larger part of their business, but it caused hardship, if not distress, among many provident bona fide investors, people of slender means who held Australian shares and had so held them for years. The general depreciation in the value of Australian shares in Australian markets was sufficient in itself to cause grave concern without the placing of a ban on. dealings in them. ■ GOVERNMENT LOANS. Inquiries for New Zealand Government loans continued keen throughout the week. Prices were well maintained,, but the amount of business reported was only moderate. Approximate prjces" for Stocks last August and prices paid last week and this week are as follows:— sate5 ate ■ August, Last This Per Tear. 1939. week. week, cent. £ £ £ 3 1941 97% *98»4 *98% 3% .... 1953-57 90% 99 99 3% 1941 99% i »99% *99% 4 .... 1940-43 99% 101% 101% 4 ..... 1943-46 98% 303% 103% 4 .... 1946-49 99% 103% 104 ♦ ....- 1948 99% _ _ 4 .1949-52 97% 103% 103% 4 .... 1952-55 96.% 104 104 4 .... 1954-58 96% 103% 104 . ' : 'Buyers. Reported sales of Government Stocks and Bonds this week were as follows:— , 3J per cent. (1957), ;£99. 4 per cent.' (1943-46), £103 ss. 4 per cent. (1946-49),: £104, £103 17s 6d, £104. 4 per cent. (1949-52)' £103 15s. . 4 per cent. (1952-55), £103 15s, £104. , 4 per' cemt. (1954-58).,. £104. .Sales of i local body debentures included the following, all 4iper cent:— Aucklarid'H^rbbur Board (1942), £100; Auckland Power Board (1959), £107Dargaville Borough' (1956), :• £103 10s; Pukekohe Borough (1957-60), £103 10s. Company debenture business included the following sales:—r6 per * cent. Amalgamated '.Brick, Auckland (1944), £102; 5 per cent. Auckland Gas Perpetual, £100. ■.■■:■■■: SALES OF SHARES.

The local markets have kept fairly firm all the week with a moderate inquiry for banks insurance shares, the latter easing; down-at'the-end of the week. Industrial- shares generally are firmly held. > Some= business was done in financial investments. Breweries "also received attention. Prices realised for N6w Zealand shares reported sold last week, with highest prices paid this week, are as follows:—

Sales of gold-mining and dredging shares reported were: Martha Mine, 7s 3d; Waihi Investments, 4s 9d; Okarito, 6d: Gillespie's Beach, 6d; Worktop, 3fd.

■ Last week. This week. £/s. d. £ 8. d. Bank of N.Z. 2 06 206 Nat. Bank N.Z. .... 1 18 3 1 17 0 N.Z. Insurance ...... 2 19 6 2 18 6 S. Brit. Insurance ... . 2 7 6 2 76 National Insurance . 0 17 9 0 IS 0 Standard Insurance . 2 16 3 2 16 6 N.Z. Guarantee Corp. 0 3 0- 0 3 0 Wgtn.. Trust Loan .. t 5 0 0 4 15 0 Equitable Bdg — 0 13 0 Newton King (pref.) ,f 0 12 0 0 10 6 N.Z. Refrig. (10s) .. 0 8 4 0 8 9 Bond's Hosiery ...... — 16 6 Kaiapoi Wool • 0 14 3 0 14 6 Westport Coal 12 3 12 3 Wgtn. Gas (pref.) ..* 116 12 0 Farmers' Trading . .f 0 19 6< 0 19 0 McKenzie's Dept. Store 2 0 5 2 0 0 Hays, Ltd (15s) ...* 0 16 0 0 17 0 Woolworths, N.Z. ... 0 15 6 0 15 6 MacDuffs 0 5 6 0 6 6 N.Z. Breweries. 1 13 9 1 13 8 Dominion Breweries' . 19 3 19 6 Farmers' Fertiliser .. 116 116 N.Z. Newspapers ...* 17 3 18 6 Milburn Lime * . 1 16 9> 2 0 6 Wilson's Cement .... 0 17 9 0 18 0 Whittome Stevenson . 0 19 6 0 19 6 B. * E. Tingey (ord.)f 110 10 0' •Buyers. fSellera.