INVESTMENT MARKET

Evening Post, Volume CXXX, Issue 90, 12 October 1940, Page 14

INVESTMENT MARKET

PRICES KEEP STEADY

A FAIR TURNOVER

"Evening Post," October 12. Business on the Stock Exchanges of the Dominion has been of moderate dimensions this week and ©rices have kept fairly steady. Australian issues continue in moderate demand and prices generally were maintained. Some New Zealand industrial shares exhibited weakness. Government loans were in strong demand, especially for the long date issues, but the reported transactions were very few. Local body 4| per cent, loans were also wanted and that at what would formerly have been regarded as high premiums. The sharemarket generally may be described as quiet but steady. GOVERNMENT LOANS. Approximate prices for New Zealand Stocks last year and prices paid last week and this week are as follows:— Rate Oct., Last This Per 1939. week. week, cent. Year. £ £ £ 3 ... 1941 98% *99% 101) 3Yz ••. 1953-57 92 101% 101% 3% ... 1941 100 101 *100% 4 ... 1940-43 98% *101% 101% 4 ... 1943-4R 98% 103 103 4 — 1946-49 97% 100 *105?4 4 ... 1948 101 10514 *105 4 ... 1949-52 98 106% *106% 4 ... 1952-55 98 107% *107 4 ... 1954-5S 98 10S% 108% ♦Buyers. Interest is due on 4 per cent. (1946----49) on October 15; on 3| per cent. (1941), 4 per cent. (1948), 4 per cent. (1949-52) on November 15, and on 4 per cent. (1954-58) on November 30. Reported sales of Government Stocks and Bonds this week were as follows:— j 3£ per cent. (1953-57), £101 ss, £101! 12s 6d, £101 2s 6d; 4 per cent. (1940-i 43), £101 2s 6d; 4 per cent. (1943-46),! £103; 4 per cent. (1954-58), £108 7s i 6d, £108 10s; 3 per cent. U941), £100. Sales of 4 per cent. Commonwealth Bonds (1947) were also reported at £105. Sales of 4£ per cent, local body loans j included Auckland Harbour (1959), i £108 2s 6d; Mount Albert Boro. (1959), I £107; Mount Eoskill Road Board' Q955), £104 10s. I Company debenture sales as reported j included 5 per cent. Auckland Gas' Perpetual, £102. NEW ZEALAND SHARES. Bank of New Zealand shares showed a slight decline this week. They opened at 42s 6d, then weakened to business at 42s 4d; but the Long-term Mortgage or D shares improved from 28s 6d to 28s 9d. Other bank shares sold, including overseas institutions trading in New Zealand, were firm on prices realised last week. A little more attention than usual of late was paid to pastoral and financial shares, but the sales reported were few. They included Equitable Building debentures at 15s. Industrials were not freely dealt' in, and some of them showed small declines on prices paid last week. For instance, Wilson's Cement dropped from 19s 6d to 19s; fractional losses were also noticed in prices reported for some, other shares of this character. Breweries and retail stores shares were quiet but steady. Highest prices realised for New Zealand shares this week are, compared with those paid or with buyers' offers of last week, as follows: — Last week. I'lils week. £ s. d. £ s. d. Bank of N.Z 226 22 6 Bank of N.Z., D 186 189 Nat. Bank N.Z 2 0 3 2 0 6 Bank N.S.W * 27 5 0 28 0 0 Union Bank 72 6 72 6 Bank of A'asia 8 10 0 8 10 0 Commercial Bank 0 15 0 0 15 0 Comm. Bank, pf. ...» 815 0 9 0 0 N;Z: Insurance 3 0 6 3 10 S. British Ins 2 10 0 2 10 0 National Insurance ... 019 0 018 10 Equitable Bldg 012 6 012 6 Nat. Mortgage A ....* — 1 1" « N.Z. Refrig.. £1 1 01J lot N.Z. Refrig.. 10s 0 9 6 0 9 6 Manawatii Knit * 019 3 019 9 Westport Coal « * 12 6 111 Westport-Stockton Coal* 0 2 0 0 2 2 Wellington Gas * 112 0 112 9 Auckland Gas 0 8 4 0 8 4 Devonport Ferry * 116 1 2 S N.Z. Breweries llf 3 113 0 Dom. Breweries 111 0 110 0 Booth, Macdonald, pf. 0 5 0 $ £ 6 Farmers' Trading .... 1 0 P 1 0 2 Woolworths (N.Z. ... 016 10 °, « McKenzle's 2, 2 5 0 Mac Duff, pref t 018 6 OIT 6 Mac Duff, ord 011 0 010 10 Selfridges, N.Z * 0 3 6 0 3 9 Claude Neon, N.Z. ... — J J 5 Dental and Medical .* 013 8 014 6 N.Z. Drug 314 6 314 3 Farmers' Fertiliser ... 1 1 3. 1 1 J Farmers' Fert., pf.. ..t 12 9 1 3 0 B. &E. Tingey, pf. .t 1 2 0 12 0 Radio (1936) t 012 9 012 0 Consol. Brick 0• 6 0- 5 Wilson's Cement 019 6 019 6 ♦Buyers. tellers. AUSTRALIAN SHARES. No material change was made in the New Zealand market for Australian shares, following the upset caused by the Federal elections. Colonial Sugar shares were a shade weaker. Broken Hills sold down to 465, but 47s was paid at the close of the week. Bntjs« Tobacco opened with business at 49s 6d There was a fair amount of business in Woolworths, Ltd., at around 18s 3d. For Felt and Textiles rights 11s was obtained. Highest prices or buyers' bids last week and those paid this week are as follows: — Last week. This week. £ s. d. £ 8. d Nat. Bank of Aust, £5 — 5 19 0 Aust. Consol. Indust. . 118 6 118 6 Broken Hill Pty 2 7 0, 2 7 0 British Tobacco 2 10 3 2 10 0 Colonial Sugar 52 10 0 52 5 0 G. J. Coles 3 9 0 3 10 0 Woolworths, Ltd. ..... 018 6 018 3 Huddart Parker, ord. . 212 0 212 0 Huddart Parker, pref.* — 16 9 Wilcox Mofflin 0 6 1 0 6 6 Broken Hill South .. 16 3 16 6 Mount Lyell ♦ 19 9 110 1 Mount Morgan 086 088 Rawang Tin — 0 7 6 ♦Buyer. Sales of gold mining and dredging shares included Martha Mine, Waihi, at 7s 9d; Emperor (Fiji), 11s 6d; Associated Gold Dredges (10s paid), 9s 7d; Austral-New Zealand Mining, 26s to 26s 3d; Okarito, 7£d.