COMMERCIAL

Evening Post, Volume CXXXIII, Issue 50, 28 February 1942, Page 9

COMMERCIAL

STOCKS AND SHARES

A SLACK WEEK

"Evening Post," Feb. 28. Business on the Stock Exchanges of New Zealand this week may be described as nominal, apart from a moderate turnover in Government loans. Bank and insurance shares sold, at lower prices; industrials and retail store shares were on a quiet but firm market. Breweries were neglected, and turnover in coal and gas shares was small. During the week, Bank of New Zealand shares dropped from ,38s 4d to 37s 6d; Union Bank from £6 7s 6d to1 £6 ss; New Zealand Insurance from 62s 6d to 61s; South British from 54s 6d to 535. Sales of Christchurch Building Society were reported git £17 ss, and of Wright, Stephenson at 20s. Woollen shares dealt in included Wellington Wpollen (prel), £7 7s 6d; Mosgiel, £10 15s; Timaru, 16s 6d; and Kaiapoi (17s paid), 18s. Business in retail store shares: D.I.C. (pref.), 24s 6d; Farmers' Trading, 20s; McKenzie's, 395; Woolworths (N.Z.), 12s 6d.

•Australian shares were not quoted in New Zealand during the week unr til Friday, when there were sellers in Wellington of Broken Hills at 335, and! Electrolytic Zinc (ord.), at 435. Woolworths, Ltd., had buyers at Us 3d. The reason for suspension of business in Australian shares was the continued activity of the Commonwealth new economic regulations. However, the Stock Exchange Association of New Zealand received information to the effect t that transactions in Australian securities as between parties iri New Zealand could be made as formerly; but further information on other points is awaited. GOVERNMENT LOANS. Demand for Government Loans continued steady with prices tending higher. Approximate prices paid and buyers' ideas of values last week and a year ago, together with values this week, are as follows:— Per March, Last t This cent. Year. 1941. week. week. £ & ' & 2% 1046 — *96% *96i/£ 3 1945 ■— *98% *98% 3 1946-48 — *99% *100 ■i 1951-54 — *97V» 98 3% .... 1956-59 — 100% 1001,4 3*4 .... 1957-60 — 101% 100y 3 3% .... 1960 — - tlO3 3V 2 .... 1953-57 103% 102 102 4 1943-46 1021/ a 100% 100% i 1948 104% *104% 104% 4 .... 1946-49 104% 103% 10.1% 4 1949-52 105 105% |106 4 1952-55 105% 106 106 4 .... 1954-58 1061/g 107% 10f)i/ 2 War Loan 1953 82 87 87% *Buyers. tSellers. Half-yearly interest is due on 3 per cent. (1946-48) and 3^ per cent. (1957-GO) Stock on March 15, and on 4 per cent. (1949) Stock on April 15. Sales of Government loans as reported this week were as follows:—3 per cent. (1951-54), £98; 3 per cent. (1953-57), £102; 4 per cent. (1943-46), £100 7s 6d; 4 per cent. (1948), £104 15s; 4 per cent. (1946-49), £103 1.55; 4 per cent. (1952-55), £106; 4 per cent. (1954-58), £106 10s; War Loan (1953), £87 ss. Yields of Government loans at short date today are around 3^ to 3 3-8 per cent.; for the week ended February 27, 1941, the return was slightly over 23 to 31 per cent. The Compulsory War Loan (1953) sold at £87 5s this week, compared, with £81 15s a year ago.