STOCK AND SHARE BUSINESS

Evening Post, Volume CXXXIV, Issue 76, 26 September 1942, Page 9

STOCK AND SHARE BUSINESS

Gilt-edged securities were in good demand and with some appreciations this week, a considerable amount of business passing. Bank and insurance share? were firm at last week's price?. Industrials, but mainly woollens, received particular attention. Stores were quiet. Breweries had very little business. Bank of Xew Zealand shares changed hands at 39s lOd to 40s, with the long-term mortgage issue making 31s. National Bank of New Zealand sold at 44s 6d; Union Banks held at £7; Bank of New South Wales sold at £29 10s, as last week. There were sales of National Bank of Australasia (£5 paid) at £3 10s. In the insurance section, South British were wanted at 61s, with sellers asking 635. Nationals had sales at 20s 6d to 20s 7 J,id. Xew Zealand Insurance sold at 71s, as last week. Inquiries were made for Standard Insurance at 62s and for Queensland^ at 50s, rising to 51s, with no sellers quoting. National Mortgage A were dearer by Is this, week, making 39s 6d. Newton King (pref.) selling at 14s. were down by 9d on the week. In the industrials section there were salss of Woolens at £7 ss; Kaiapoi (17s paid) at 19s 3d, Timaru 19s, and Bruce 255. Meat company shares had some inquiry. New Zealand Refrigerating going for from 2is 6d to 21s 9d, and up to 9s 8d paid for the 10s shades. Gears were wanted at 16s 9d, but with no disclosed sellers. Westport Coal commanded 25s 3d. Gas shares were steady, Wellington realising 29s and Auckland (10s) 6s 5d.. Other industries represented in the sales wore Donaghy's Rope, improved by 6d a share to sales at 50s j Wilson's Cement at 17s 3d; and Consolidated Brick realised 7s to 7s 3d. Store shares were quiet, as indicated by prices paid for Woolworths (N.Z.) 15s 2d, and Macduffs (pref.) 17s to 17s 3d. Brewery shares were very quiet, New Zealand Breweries holding at 33s lOd. Late Wellington sales yesterday included Bank of New South Wales, £29 10s; Taranakt Oilfields, 6s. Australian investments were rather quiet, the sharp upward move in the Sydney market early in the month having apparently subsided. Colonial Sugars, which reached £51 in New Zealand, sold at £50 this week; Broken Hills were sold at 38s, whereas they had reached 39s early in the month, and Electrolytic Zincs at 46s showed a fall of 6d a share, and Mount Lyells, which rose to 2Ss, were dealt in this week at 27s 6d. GOVERNMENT LOANS. Considerable interest was displayed in Government loans this week, especially for shortdated issues, and the market in general is stronger. Sellers are exceedingly difficult to locate. Inquiry is strong for almost all issues. Particular attention was paid to 3 per cent. Liberty Loan (1952-55), with sales reported at from £98 12s 6d to £9D. Approximate prices at this time last year and for last week, with highest prices reported this week, are as follows: — Per Oct. Last This cent. Year. 1041. week. week. £ £ £ 2i/2 194" — 97% 97% 3 .... 1951-54 97% *98V 2 99 3 .... 1952-55 — 98% 99 3VI .... 1957-60 99V 2 100% 100% 3V* 1953-57 102 *103 103V 2 4 .... 1949 103 *104V 2 " 104y 2 4 1952-55 107 107 107% War Loan, 1953 88% 92 92 % Liberty Bonds, 1949 — *17/9 18/- ---* Buyers. ' Interest is due on 4 per cent. (1949) on October 15. War Loan (1953) is free of interest until October 1, 1943, and then at 2% per cent. Local body debenture sales were 4% per cent. Auckland, Harbour Board (1959), £109, and (1960), £109 ss. Business in company debentures included ZV2 per cent. Auckland Gas (perpetual), £81; 6 per cent. Amalgamated Brick (1944), Auckland, £101, and Wellington £103 10s. Gold shares dealt in included Waihi Investments, 3s 2d; Martha, 8s lOd; and Arahura, 26s 9d.