GOVERNMENT LOANS

Evening Post, Volume CXXX, Issue 144, 14 December 1940, Page 14

GOVERNMENT LOANS

CONTINUED ADVANCE

OTHER BUSINESS STEADY

"Evening Post," December 14,

Business on the Stock Exchange this week showed the usual signs of slackness before the Christmas vacation, but the demand for Government Loans continued exceedingly keen: offerings are scarce. In this eagerness to acauire gilt-edged securities most municipal loans also participated. Turnover otherwise was or moderate dimensions and the market, apart from the gilt-edged section, may be described as dull. Banks and insurance shares were steady with a firm inquiry. Leading Australian shares were weaker in sympathy with the condition of the Sydney and Melbourne markets. New Zealand Government Loans, as will be seen in the table of prices here- • under, showed marked appreciations on rates ruling at this time last year, with the new War Loan also improving in price. Approximate prices for New Zealand Stocks last year and prices paid last week and this week are as follows:— Bate Dec. Last This per 1939. week. week. r*-.. MS •«% id* is* 3% .. 1953-57 92% 101% 102 3% .. 1941 97 *99% *^Vf 4 .. .1940-43 99% 100% 101% 4 .. 1943-46 99 103% 104 I 1946-49 99 I°4 104^ 4 " 1948 99 *103 *102% 4 .'I 1949-52 .OT% 105% 105% 4 1952-55 99 106% 107% 4 i 1954-58 96% 106% 108% War Stock, 1953 - 80% 80% ♦Buyers. Interest is due on 4 per cent. (1955) on December 15 and on 34 per cent (1953-57) on January 15. War Loan is free of interest for three years and afterwards 2i per cent, per annum until maturity in October, 1953. Reported sales of Government Stocks and Bonds this week were as follows:— War Loan, £80 12s 6d, £80 15s, £80 12 3 Per teßntlo(T939-41), £100 2s 6d; 3* per cSt (1953-57). £101 17s 6d, £101 15s, £101 17s 6d, £102; 3i per-cent. (I960), £100 10s; 4 per cent. (1940-43), £101 15s £101 10s £101 15s; 4 per cent (1943-46) £103, £103 ss ? £103 10s £104 £103 12s 6d; 4 per cent (1946-49) £103 17s 6d, £104, £104 lOsfY per cent. (1949-52) £105 10s, P ih*> 5s £105; 4 per cent, (1952-55), £106 15s, £107, £107 ss, £106 15s, £107 5s- 4 per cent. (1954-58), £106 15s. There were also sales of 5 per cent.' Rural Bonds (1947) at £104. Sales of 4i per cent, local authorities debentures were reported as follows:— Auckland Harbour Board (1941) £101 15s; Auckland Power Board (1959), £109 and (1945) £103; Christchurch Trams (1954), £105 10s; Waitomo Power Board (1945-61), £103; Otago Harbour Board (1958), £106; Mount Eden Borough (1958-63), £106. 4£ per cent. City of Auckland (1953), £99 ss; 4 per cent. Wellington Hospital (1943) £100 15s; 34 per cent. Takapuna Borough (1954), £97. Company debentures sold included 4| per cent. N.Z. Refrigerating (1940----45), £102; 4 per cent Timaru Gas (1945) £90; 5 per cent. Auckland Gas (perpetual), £101 ss. NEW ZEALAND SHARES. Highest prices realised for New Zealand shares this week (including banks trading in the Dominion) are com ; pared with those paid or with buyers offers of last week, as follows:— Last weeK. This week. £ s. d. £ s. d. Wank of N Z 2 1 6 3 * ° gff£s.BV:.... SO 0 0 30 0 0 Bank of Australasia . 81? 0 812 6 Commercial Bank .... old 0 01? ° N.Z. Insurance 2 ? „ i Z a S. British Insurance .. 2 9 9 i 9 4 National Insurance ... 018 0 018 2 Christchurch Building — 1» % % Westport Coal 1 2 7% 1 2 9 Westport-Stockton ... *0 2 4 0 2 4 Taupiri Coal *l o 6 110 Auckland Gas *0 7 7 Deronport Ferry *1 1 0 2 3 Wellington Woollen .. - nig q Kaiapoi Woollen. 17s . *0 13 4 Canterbury Meat ••••;—„ 10 2 N.Z. Befrigerat. (£1) 10 3 10 6 N.Z. Refrigerat. (10s) 0 9 3 0 9 6 Farmers' Trading .... 019 3 019 3 Woolworths (N.Z.) ... 015 2 lj Mac Duffs (pref.) .... ,0. 19 6 10 0 Booth, Mac Donald n , .. . _ ft (pref) 0 4 7 0 5 0 Wair. Farmers (pref.) 0 5 0 0 5 0 N.Z. Breweries 111 9 111 S Dominion Breweries ..1 10 0 110 0 Dominion Fertiliser . 1 t 6 1 7 6 Farmers' Fertiliser ... *1 1 6 12 0 N.Z. Newspapers 112 0 1U | Wilson's Cement 018 9 018 8 •Buyers. Other sales included Southland Ice, 23s 6d; Auckland Farmers' Trading A (pref.), 235; Dental and Medical, 15s 9d; Auckland Meat (unofficial). 295; Keid Rubber (ex dlv.), 23s 3d; Taranaki Oil Fields Development, 3s. AUSTRALIAN SHARES. Highest prices or buyers' bids in New Zealand last week and those paid this week are as follows: — Last week. This week. £ s. d. £ s. d. Aust. Consol. Indust. .. 119 3 119 3 British Tobacco *2 7 9 289 Broken Hill 2 5 9 2 53 Colonial Sugar 52 5 0 52- 0 0 Felt and Textiles 1 19 0 1 19 3 Woolworths, Ltd 0 17 6 0 17 6 Wool worths Properties *1 4 0 14 9 G. ST. Coles *3 8 3 3 8 3 Morts Dock — 0 18 0 Electro. Zinc (pref.) . *2 13 6 2 17 0 •Buyers. GOLD SHARES. Sales of goldmining and dredging shares were few, those reported being Big River, Is 3d; Okarito Is s£d. AUSTRALIAN SHARES IRREGULAR. (By Telegraph—Press Association—-Copyright.) SYDNEY, December 13. Prices moved irregularly on the stock exchange today. Sales: Union Bank of Aust., £6 7s 6d; Consol. Indus., 38s 3d; Colonial Sugar, £47 15s; Henry Jones Co-op. 52s 6d; Mark Foys, 19s 3d; Carpenter, 36s 6d; Felt and Textiles, 37s 9d, cont. 26s 6d; Goldsbrough Mort, 25s 6d; General Industries. 17s 3d; Mt. Morgan, lls 4d; Rawang Tin, 8s lOd. MELBOURNE, December 13. Sales: E.S.A. Bank, 795; Kauri Timber, 21s; Broken Hill Pty., 44s 9d; Broken Hill South, 25s 6d; Emperor, lls 6d. FOREIGN EXCHANGES. (By Telegraph—Press Association—Copyright.) LONDON, December 12. Today's closing rates for foreign exchanges in relation to sterling are as follows:—New York dols. to £. 4.03: Montreal, dols. to £, 4 45; Lisbon, esc. to £, 110.25: Athens, drac to £. 346; Stockholm, tmr. to £. 16.90: Geneva, francs to £, 17.35; Calcutta, d. to rupee, IS: Hong Kong. d. to dollar. 15; Shanghai d. to dollar, 3 13-16; Buenos Aires. .d. to peso. 17.965: Kobe, d. to yen. 14 2».-32.