SHARE PRICES IMPROVE

Evening Post, Volume CXXXVI, Issue 63, 11 September 1943, Page 9

SHARE PRICES IMPROVE

Gilt-edged investments, particularly Govern-1 menti loans, continued in good demand this week with Sellers diffident in quoting. The 3 percent. Third. Liberty Loan (December, 1953----56) had a fair amount of business at prices ranging, f^'om, £9j7; 10s to £;9&. The market for Government, 10/ ms, was arm. all round. Approximate- prices for Government loans at this, time.. last year^ for last wee.lt,., and highest prices paid1 this week, were as follows:— September. Last This Per J942. week week. ekiit., -Sear. £ & £ 2V 2 .... 1947 — 98V 4 . 9,8 lA 3 .... 1953-56 — 9Sy 2 - 95% S .... t1953,-.sft ,-. 9S* 9S 4 .... '1943-46 IQI% 100% 101 4 .... 194$ ■*tO.S:V£, 10,4. 104 Va 4 .... 1952-55 •IOJVfe 106 10.15 V* 4; ...... 1Q.5,4 r 53 •10* 107%, 107% War Loan, 1953 92 % 93% ,93% Liberty Bonds; 1949 — ■*19/- ■ *19/----f Third Liberty Loan. * Buyers. Interest is cjue on September 15. next oh iy 2 per cent. (19/47,)., 3 per cent; (1946-48), 3 percent. (,1,952*5:5), and 3% ncr cent.. (1957-l>0). lateres* is also due on October 15 On 4 per cent. (1940-49,). Stock. The first war loan. 1953. was compulsory and was issued free of interest until October 1, 1943, Interest thereafter being at the rate of 2% per cent, per annum. The first Liberty Loans were at 2V 2 per cent. (1947) and 3 per cent. (1952-55): the Second Liberty Loans, 21/* per cent. (1948) Rnd 3 per cent. (1953-56); and the Third Liberty Loan, 2% per cent. (1947-49) and 3 per cent. (1953-56), the latter loan being designated 15/12/1953-56 and marked t- Local body and other debentures changing hands included 4*4 per cent. Auckland Harbour Board (1960), i £110; AM per cent. Ghristchurch Drainage Board (1954), £108 10s; and 3% per cent. Auckland Gas (perpetual), £S6 10s to £86 15s. Although the Improved complexion of international affairs cannot be ignored as a factor in the Investment market the uncertainty of the results of the General Election has also to bo taken into account. However, comparisons made between prices paid today for shares in well-established undertakings when compared with the low levels these shares reached during the past nine months shown In parentheses suggest the confidence that investors have In the* future of banking, insurance, and industrial shares. Bank of New Zealand, 42s 4d (40s 6d) ; National Bank of New Zealand, 50s (48s 6d); Bank N.S.W.. £34 (£30); Bank Australasia, £9 10s (£9); Union Bank, £7 13s 6d (£7 12s) : E.S. and A., 79s 6d (78s) ; Commercial of Sydney, £21 (£19); N.Z. Insurance, 86s (70s 6d) ; South British Insurance, 73s 6d (67s 9d) ; Standard Insurance, 74s 3d (70s). Coal and gas shares were very quiet with sales of Auckland Gas at 7s (6s 6d), Kaitangata Coal, 34s (38s 3d). Prices reached in other sections this week included Union S.S. (pref.) 31s (295), N.Z. Refrigerating (£1) 25s 9d (23s 3d), Auckland Farmers' Freezing (unofficial) 245, Bruce Woollen 30s (275), Manawatu Knitting 37s (30s), Prestige (N.Z.) 27s 9d (27s 6d), Consolidated Brick 9s (8s 6d), Metiers (N.Z.) 17a iy 3 d (16s), Farmers' „ Fertiliser 20a 9d (19s), Forest Products 7s (4s), Bycrofts 51s 9d (48s 9d), Macky Logan 30s 3d (27s 6d). Claude Neon (N.Z.) 30s (225), Mason Struthers 16s 6d (13s 9d), Quill Morris 25s 6d (225). Store shares. Including "chains," were firmer this week with Farmers' Trading at 23s (21s 7d), Woolworths (N.Z.) 16s 5d to 16s 7d (14s lOd), Macduffs 12s (8s 6d), McKenzies Department Stores 47s 6d (42s 3d). Breweries, showed a slight improvement, New Zealand Breweries rising from 36s 3d to S6s 9d (35s 6d) and Dominion 373 (31s 6d).

Australian Investments were in good demand, but sales reported this week were confined to but a few of the leaders and these included Aust. Consol. Industries to 56s 3d, Colonial Sugar £57 15s, Broken Hill Pty. 45s 3d, as last week; G. J. Coles 60s and Woolworths. Ltd. 18s, the latter a shade dearer; Woolworths Holdings 28s. Tooth's Brewery was dealt in at 55a 6d; Morris Hedstrom, Fiji, was In the sales at 345.

Wellington sales late yesterday:—£looo 3 per cent. (15/5/1953-56), £98 7s 6d; £fc>oo (15/12/1953-56), £98; Bank of New South Wales, £33 15s.

(By Telegraph—Press Association—Copyright.i LONDON, September 9. The Bank of England return for the week ended September 9, with that for September 2, is given in millions of pounds, as follows:— I Sept. 2. Sept. 9. £ £ (millions) (millions) I Issue Department— Note3 in circulation ... 978.T 980.8 Notes in Banking Dept. .. 21.5 19.4 Govt. debt 11.0 11.0 Govt. securities 988.3 988.3 Other securities 0.7 0.7 Fiduciary issue ...... 1000.0 1000.0 Gold coin and bullion .. 0.2 0.2 Banking Department— * Capital 14.5 14.5 Rest 3.5 3.5 Public deposits' 11.3 14.3 Bankers' deposits 156.0 140.4 Other accounts :..... 53.4 53.2 Govt. securities 195.7 185:0 Advances and discounts .. 2.6 2.4 Other securities 17.5 17.(5 Notes and coin 22.9 20.9 Proportion, p.c 10.39, 10.19 Bank rate, 2 per cent, since October 26, 1939 Bank-note circulation, August 25, 1943, .was £974,900,000, and for September 9, 1942, It was £831,500^000, with a fiduciary issue of £880,000,000.