GOVERNMENTS FIRM

Evening Post, Volume CXXXIX, Issue 123, 26 May 1945, Page 9

GOVERNMENTS FIRM

The rather utiexpt^led streugtli or the demand for Government issues is one <>t the features of tliu moment on the Stock Exchanges. With a. wur loan in process of being filled, the iireet is usually noticed in a concurrent easing in the inquiry for existing stocks, but this Week the demand has been as strong as ever, and prices arc inclined to. harden. As n matter of fact, the spread of business has been the most extensive for some weeks, with practically every listed issue figuring in the recorded transactions. Tlio approximate prices for Government loans at this time last year, for last week, and the highest prices paid this week, were:— Per A year Last This cent. Year. ago. week. week. iV< 1918 !IU;;s *'-.|<V- W% -M,4 .... 1917-in vs1,- ysVs ys& 2Ms ...'. 3 049-50 — noli »'.'% I ■2\i li.ijo il.'ji^ MVs 94% li 1052-55 J»U-;i '.IS !l7:\', :{ — fl!)5;{-r>o 100 >.-'. ysVj fIS% :{ M55-5S — 9SVtt SISVi :< IUIJO-tili — iitiVt Uli ;ji,'. IDSS-57 IO.'M; 102»4 10-V4 I " l!l4(>-49 1021.4 (:I00:!s $100% 4 194!)-fi2 104 V& 10114 $10s-V4 *Buyers. tThird Liberty Loan. JEx. int. The market for debentures is strong. Auckland City 4 per cent. 1908 changed hands at £109 IDs, and Auckland Hospital' Board 4'i per cent. 1940 at & 102.. Among the gilt-edged stocks South British continues to improve its position, and a sale was reported yesterday at £4 0s (3d. Stamt ard Insurance was also firmer at £•! as Od, a couple of-sales being reported at that figure. Bank of New Zealand shares set-in -lo have settled down at about 47s Od to 4Ss, uitb selleis stll! about.. There were ex div. sales at Auckland yesterday at 47s 2d and 47s 4M:d Woohvorths, both issues, continue to be in demand, and they have been running together on tiic market at 23s :sd. The Sydney issue had <; sale yesterday Hi "J;!s (id. .MeKenzles retail stores at -!> 4s show an improvement hi the brewery section Dominion Breweries have advanced to sales at 495, and New Zealand are about 43s lOd cum div. There is not much offering, but the demand is strong. Fletcher Holdings is still in an interesting position, with a rumour that .some outside support might In; forthcoming. A dny or so ago they were worth 29s !id cum div., and yesterday they were ciuotcd at 29s lid cv div. Local finance conipany shares are in demand, but sellers are scarce. Gas and woolleu shares are wanted also. Bruce Woollen is llrm- at i!4s (id, and Timaru is a shade better at 20s 3d. Very little is coming on to the market. There have been limited dealings in limber shares, but the uncertainty of the future position does not encourage confidence, with fixed prices and high costs. Some activity has been shown in Australian shares, and here also the market is very tlrm Colonial Sugar has improved to £59 15s. at which price a sale was reported, and Broken Hill is very firm at <S(is lid. Mi. Morgan is back again to 7s 7d. Local meat export shares are in demand and (lie odd lot that does come on to the market is quickly taken. Buyers yesterday on the local market were offering 20s Del for Gear and 13s Ud for Wellington.