COMMERCIAL

Evening Post, Volume CXXXVI, Issue 87, 9 October 1943, Page 8

COMMERCIAL

BUSINESS IS NORMAL

! Business in .stocks and shares 'during tha past week remained normal, and for the most part quotations were Ilrm. Where there wa3 any variation it was within fairly rigid limits. Government loans were again in steady demand, the 3 per cent. 1953-56 (December) being particularly wanted. Prices for this stock opened at £98 2s 6d at the beginning of tho week, and closed firm at £98 5s yesterday. The 4 per cent. 1946-49 opened at £103 17s 6d, but closed yesterday at last week's figure of £104. Tho 4 per cent. 1949-52 remained steady at £105 us. ' , Approximate prices for Government loans at this time last year, for last week, and highest prices paid this week, were as follows: — October. Last This p er ' ■ 1942, week. week, cent. Year. & £ £' 2y 2 ...-. 194G 97% 98 ■ *9j% 2V> .... 1947 — • 9714 *97 ■ 2V> .... U947-49 -- 97 97 3 " .... 1952-55 99 98 . *98 3 .... 1953-56 — 98% OS% 3 .... 11953-56 — 98% 98% 314 ...i 1957-60 10094 100% 100% 3V, .... 1953-57 104% 102%, 102% 4 .... 1943-46 100% 100% 100% 4 ..... 1948 104% 104% *104%----4 194G-49 *103% 104 104 4 .... 1949-52 106 105% 105% 4 1954-58 108 — 1077s War Loan, 1953 92 % 93% 93% Liberty Bonds, 1949 — *19/- »IV♦Buyers. tThird Liberty Loan. t Interest is due on October 15 on 4 per cent. 1946-49 stock; and on November 15 on 2& per cent. 1948, 3 per cent. 15/5/1953-56 and 4 per cent. 1949-52. A little business was done in local body issues, Auckland City 4% per cent. 1959 selling at £111 10s early in the week. Bank shares were in demand, New Zealand opening at £2 2s, but weakening slightly at the end of the week to sales at £2 Is lid and £2 Is lOd. National Bank of Australia changed hands at £12 2s 6d, New South Wales at £34 ss, and Commercial Bank of Australia at 16s 7d to 16s 9d.

In the insurance group South British were wanted at up to £3 13s 4d, and a fair amount of business was recorded. National Insurance were sought at £1 3s lOd, and there were sales of New Zealand Insurance at £4 ss. There was a demand for brewery shares, New Zealand Breweries changing hands at £1 17a early in the week, and firming to £1 ,17s 6d yesterday. Dominion Breweries improved from £1 18s 6d to £1 19s at the end of the week. In the textiles section Bruce Woollen sold at £1 10s, and Timaru was likewise unchanged at 20s 9d. Kaiapois were a sliade easier at 22s 9d.

In the miscellaneous stocks, Consolidated Brick showed a further slight firming at 10s 3d, and Forest Products remained firm at their improved price of Bs. Business was steady in the store stocks, with Woolworths (N.Z.) in demand at 16s Sd. One sale was reported at 16s 9d. Macduff's firmed from 12s 6d early in the week to sales at 13s, and Selfridges sold at. 25s 6d. Leyland O'Briens had business at 21s 3d to 21s 6d, and Farmers' Co-op. Auctioneering was quoted at £4 16s Od. In the gas section Christchurch 'cold at 24s 6d and Auckland at 7s.

Business- in Australian shares was • not extensive. Broken Hill Pty. started off a shade easier at £2 4s 9d, but recovered to £2 ss, and Colonial Sugar changed hands at £57 15s. Woolworths (Sydney) were unchanged at 17? 9d. ■