COMMERCIAL

Evening Post, Volume CXXXII, Issue 125, 22 November 1941, Page 11

COMMERCIAL

STOCKS AND SHARES

VALUES MAINTAINED

. 'Evening Post," November 22. , Business on the Stock Exchanges of the Dominion this week has been in fair volume with a strong preference still shown for Government Loans, holders of which are loath to quote. Bank shares were on a quiet but firm market, and for insurance shares the demand was particularly keen. Stock and station investments figured in the sales, but for these, as for financial companies' shares, holders were ready to do business and quoted freely. Leading New Zealand industrial shares were on a firm market/Textiles were closely held, but the sales reported were not numerous. Retail and wholesale shares had a fair inquiry, some of the former showing appreciations on the week. Coal and gas shares had a moderate amount of business. Breweries were quiet but prices firm. The New Zealand investment'market, taken as a whole, may be described as steady with prices well maintained. Highest prices paid this week for New Zealand shares, including shares in banks trading in the Dominion, are compared : with peak prices for 1941 as reported by the Stock Exchange Gazette, and ; are as follows: — • Highest 1941. This week. £ s. d. £ s. d. Bank N.Z 2 19 1 19 9 Nat. Bank N.Z. 1 19 0 2 0 0 Bank N.S.W 29 10 0 28 0 0 Bank Australasia ... 8 1G 0 8 12 6 Comm. Bank 0 15 7 0 14 8 Union Bank 7 CO 7 6 0 N.Z. Insurance 3 10 6 3 13 6 Nat. Insurance 103 100 N.Z. Loan and Merc. .. 42 0 0 41 10 0 Gear Meat 0 15 3 0 15 0 N.Z. Refrlg., 10s 0 9 9 0 9 5 Wellington Wool (pref.) 7 2 0 716 0 Oamaru Wool 150 130 Westport Coal 1 5 0 1 4 9 Wellington Gas 1 13 0 1 11 0 Auckland Gas 0 7 6 0 7 6 Union S.S. (pref.) .. 17 0 17 3 • Beath and Co 0 18 6 10 0 Woolworths (N.Z.) .. 014 9 015 0 i Mac Duffs (pref.) 10 S 1 0 6 i Farmers' Trading .... 122 120 • Consol. Brick 0 8 2 — Wilsons Cement 1 0 0 0 18 0 i Milburn Lime 119 0 1 18 C Reid Rubber 1 S 0 1 8 6 , N.Z, Newspapers 1 13 0 1 12 6 N.Z. Breweries 1 17 3 1 16 9 Bank of New South Wales is quoted this week ex div. Bank of New Zealand and Wilsons Cement ordinary \ dividends are reduced. ' GOVERNMENT LOANS. '' The demand for Government Loans continued very keen, with very little response shown to buyers' demands and increases in their offers. The market closed very firm. Highest prices as reported this week ; and last and approximate prices in ; December, 1940, are shown as fol- ; lows:— Rate Dec, Last This p.c. Year. 1940. week. week. £ £ £ , 2 3/ 2 .. 1946 — *97? i 97% .3 .. 1945 — *100% -*100% .3 .. 1946-48 — *99 *98% 3 .. 1951-54 — 98 *98^i . SYt .. 1956-59 — *100% 100% ; 3%- .. 1957-60 —. *99% 100 J3^ .. 1953-57 101% 102y 3 103 4 .. 1943-46 103% 101% 101% ! 4 .. 1948 104 *105% *1053 / 4 1-4 .. 1946-49 104 ' 103% 193% •4 .. 1949-52 104% 106% flO5 4 .. 1952-55 106% 107^4 107% 4 .. 1954-58 108 *108 *108% War Loan, 1953 80 88 $BY> ♦Buyers. tEx interest. Half-yearly Interest due 4 per cent. (1954-58) and (1948), November 30; and 4 per cent. (1952-55), December 15. "Buyers. Sales of Government Loans as reported this week were as follows:— War Loan (1953), £88, £88 2s 6d, £88, £88 Is 3d, £88, £88 10s, £88; 2| per cent. War Loan (1946). £97 10s; 3£ per cent. (1956-59), £100 12s 6d; 3£ per cent. (1957-60), £100; 3§ per cent. (1953- | 57), £103; 4 per cent. (1943-46), £101 15s, £101 12s 6d, £101 17s 6d; 4 per* cent. (1946-49), £103 ss, £103 7s 6d; 4! per cent. (1949-52), £106 12s 6d, and ex j interest £105; 4 per cent. (1952-55). £107 ss, £107 10s. '■ ■■ ' AUSTRALIAN SHARES. | Very little business in Australian in-1 vestments was reported in New Zealand this week. Comments on the Sydney and Melbourne markets agree that investors are hesitant and that business continues slack. In the Commonwealth both Federal and State taxation of companies partially explains this condition; but the aspect of inter-! national affairs also exerts an influence on Australian investment values generally. Prices of leading Australian shares sold in New Zealand this week, with highest prices realised in 1941, are given as follows:— Highest 1941. This week. £ s. d. £ s. d. Nat. Bank of Auet. .. 6 0 0 5 12 6 Aust. Consol. Indust. .. 2 12 3 2 6 6 Broken Hill 2 7 3 200 British Tobacco 246 2 5 01 Colonial Sugar 56 7 6 51 0 0 Goldsborough Mort 18 6 17 9 Woolworths, Ltd. 018 3 016 51 Business in New Zealand gold shares this week was almost negligible, but it included Martha rising from 8s lOd to 9s 2d and Waihi 4s 3d. Emperor Mine (Fiji) sold at 11s 9d and later at 11s 3d. LOCAL EXCHANGE RATES. The Bank of Xew South Wales quotes telegraphic rates of exchange (New Zealand currency) on- overseas centres as follows:— On Buying. Selling. New York, dol. to £ .. 3.2542 3.2050 Montreal, dol. to £ 3.6039 3.5290 Java, fins, to £ 6.18T 6.004 Hong Kong, d. to dol. .. 18% 19 1-32 India and Ceylon, d. to rupee 22 3-16 22% Manila, pesos to £ .... 6.599 6.442 Shanghai, d. to dol — 4 31-64 Singapore, d. to dol 34 41-64 35 39-64 OIVIDENDS DUE. Perpetual Trustees—int., 9d Nov. 25 Westport Coal—final, 6d per share, or la per annum Nov. 25 Colonial Sugar—int., 17s year end-. ing March, 1942 Nov. 26 Anthony Hordern, Ltd.—half-year, pref. IYz p.c. per annum, ord. 5 p.c. Nov. 26 Nat. Bank of Aust. —half-year at 6 p.c. per arm. on £10 and £5 shares Nov. 26 Tooth and Co.—final, 6 p.c, making. 12 p.c. per annum Nov. 26 Aust. Consol. Indus.—lnt. 4% p.c. pref., sy s p.c. ord Nov. 26 Tut Brewery—final, 9d Nov. 26 National Timber—int., 2H p.c Nov. 26 Broken Hill Pty.—half-year 9d .... Nov. 26 Leyland-O'Brien Timber—ls Nov. 26 Herald-Weekly Times—final, ord., 6 p.c. and bonus 2 p.c.; pref., 3% p.c.; B pref., 3 p.c. .. Nov. 28 Bank N.S.W.—quarterly. 6s Nov. 28 Waih! Invests.—4 p.c, less English income tax Nov. 28 Farmers' Trading Co. —int. A and B pref., 5 3-5 p.c; C pref., 5 p.c. Nov. 29 Fletcher Holdings—int. pref. at 6 p.c. p.a Dec. 1 Jason Invest. Trust—4 p.c Dec. 1 Dunedin Stock Exchange—int., txk p.c., Dec. 2 Wilson's Cement—int. 2%d Dec. 2 Swan Brewery—lnt. pref., 3 p.c.; ord., 10 p.c Dec. 3 Farmers' Distributing—s p.c. p.a. ... Dec. 3 Taringamutu Totara—final, 3V£ p.c. .. Dec. 4 Manawatu Knitting—7 p.c Dec. 5 Bank N.Z.—half-year, ord. 9d; D long term. ZYt, p.c Dec. 6 Kauri Timber—final, 3V> p.c Dec. 11 Mount Lyell—final, Is 3d per share .. Dec. 17 Henry Jones Co-op.—ls 6d per share Dec. 17 Victoria Nyanza Sugar—ls ..' Dec. 18 E.S. and A. Bank—3^ p.c. (less income tax) Dec. IS North Broken Hill— Is per share, less N.S.W. tax Dec. IS Broken Hill South—ls per share .. l>ec. IS Associated Paper—lnt.. 3 p.c. *#** Dec. 19 Trustees Executors, Dunedin—int., 3 p.c. .-..- Dec. 19 North Kalffurli— 6d (less tax) sterling Oec. 2S Morris Hedstrom—int.. 3 p.c Dec. 31 LONDON SHARE INDICES. (By Teleernph Pri»si« Association Copyrl«!it.» LONDON, November 21. "Financial Times" Indices? <1926 equals 100) :— Uovl. Home Indus- Uold see's. Rails trials mines Nov 4 IU.O 50 7 99.6 172 7 Nov. 17 ........ 113.8 51.7 101.8 177 3 Nov. 19 113.9 52.0 102.8 ~ Nov. 21 113.7 52.7 104.2 179.9 Industrials.—Highest Id 1940, 101.0 (February 28. Marcb I) : lowest. 61.1 (June 20). MINE AND DREDGE REPORTS. Golden Dawn Mines report for week ending November 15 stales: Drive south on No. 5 reef No. 4 level, from winze extended lift total 41ft. Reef is from 2 to 3 feet wide. Was in oxidised country of low value, but now lv harder blue country. Ngahere gold return is 39sioz for 113 129 yards and 263 hours. Aus-tral-New Zealand dredge return was 5380z bullion In 259 hours for 14 days ended November 15. Maori Gold return is 4(!oz 16dwt I tor 100 hours and 8500 yards. Dredging stopped by breaking of a piu which is expected 'o take 48 hours to replace.