THE SHARE MARKET

Evening Post, Volume CXXXII, Issue 77, 27 September 1941, Page 6

THE SHARE MARKET

IMPROVED TURNOVER

"Evening Post," Sept. 27. f Business un me ivew Zealand JSxchanges this weeK <.wnich included a bank noiicu-y. was rather better than that of last weeK, ana was well spread over the list, interest m bank and finance shares, however, was but moderate, as bearing on the deinana for such shares in the Australian markets, the Sydney stock .Exchange review for Septemoer reports that as from August 28, 1939, to August 27, 1941, the index ol share values in all iinaneiai institutions dropped trom 97.U4 to 91.43; but in ali other classes an improvement has been recorded. Some of these appreciations are. Retails, from 93.49 to 102.12; industrials, from 123.94 to 133.72; pastorals (1934 average), from 78.35 to 85.74. The mild boom in the Sydney market which began during the second week of September appears to have subsided and business there is reported as quiet with a firm undertone. Australian shares quoted in New Zealand have had comparatively light business, including sales' of Fell and Textiles at 40s and 7s 6d to 8s paid for rights to new shares. Woolworths and Coles shares were rather easier on the week E.S. and A. Bank, selling at 82s to 82s 6d, showed a rise of Is on the week. Mount Morgans sold down to 9s sd. New Zealand sales included Bank of New Zealand at from 39s 7d to 39s 9d with 32s paid for f thQ D long-term mortgage shares. Union Banks kept at £7 ss. and commercials were steady at 15s 4d, with £9 15s paid for the 4 per cent, preference shares. Bank of New South Wales reappeared, sales at £28 10s. In the insurance section South British sold at 56s to 56s 6d prior to ithe dividend announcement; but buyers 1 then asked 57s 6d. N.Z. Insurance were wanted at 67s 3d. Standards brought 61s 6d and Nationals up to 18s 6d. Moderate business was reported in financis! shares, with National Mortgage A and B at. 36s 3d and 22s respectively. Wellington Investments sold at 8s and Guarantee Corporations at 3s. Woollen shares were in good demand as last week with sales of Kaiaooi (17s) reported at 16s 9d. Meat shares held- at last week's levels. Retail stores were steady. Industrials generally. showed but little change on prices realised last week.

GOVERNMENT LOANS

Inquiry for Government loans moderate. Values as reported this week at the highest prices, those for last week, and for October, 1940, were as follows: —

Interest is due on 4 per cent. (1946----49> Stock on October 15. Sales on Government loans as reoorted this week were as follows:— War Loan (1953), £87 7s 6d; 3 per cent. War Lpan (1951-54), £97, £97 ss; 34 per cent. (1957-60), £99, £99 10s; 3£ per cent. (1953-57), £101 15s; 4 per cent. (1943-46), £101 12s 6d; 4 per cent. (1946-49), £105 ss, £105 7s 6d, £105 2s 6d;4 per cent. (1949-52), £106 10s; 4 per cent. (1952-55), £107; 4 per cent. (1954-58), £107 ss.

Local body 4J per cent, debentures reported sold included Wellington City (1943), £101. Company debentures changing hands were 3£ per cent. Auckland and Gas (perpetual.)', at £91:-10s. ;; These debentures, formerly returning 5 per cent., showed a fall of £6 10s as a result of the reduction in interest. Sales prior to the reduction had been reported. at up to £100 early this month. Other debenture sales were 44 per cent. New Zealand Farmers' Co-op. (1955). £85 to £85 10s; 5 per cent. Booth Macdonald (1947), £83.

Rate p.c. Tear. 3 .. 1945 3 .. 1951-54 3% •• 1957-60 3% .. 1956-59 3y 3 .. 1953-57 4 .. 1943-46 4 .'.. 1946-49 4 ..' 1948 4 .. 1949-52 4 .. 1952-55 4 .. 1954-58 War Loan, 1953 •Buyers. Oct. 1940. £ 101% 103 105% 105 IO714 . 107% 10814 Last week. & _, *99 97 99% tioo% *101 tl02 *104i,i tl06 10614 tl07 t-07% 87% tSellers. THIS week fi *99 ' 97 „ 99 1/. *99 101% 101% 105% 105% 106% 107 • 107% 87%