INCREASE IN TURNOVER

Evening Post, Volume CXL, Issue 48, 25 August 1945, Page 9

INCREASE IN TURNOVER

I Trading in stocks and shares was more active this week than for some considerable time, and turnover, particularly on the two northern exchanges, showed a marked increase. Business also was fairly widely spread. Government issues were again in demand, particularly the short-dated stocks. Auckland was a keen buyer in this field. Prices were very firm for all Government offerings. A big parcel of 2% per cent. 1953 changed hands locally at £9G Ts 6d on Monday, and another big deal was completed in the same issue on the following day at 2s Od higher. The 3 per cent Victory Loan stock figured in a substantial deal at £09 7s Cd, which Was 2s Od better than last week's top price. i The approximate • prices for Government loans at this time last year, for last week, and the highest prices paid this week, were:—

•Buyers. t Victory Loan. There have been several sales of New Zealand Insurance at £4 18s 6d, cum bonus which is equivalent to a year's dividend ot 12V. per cent. The price has been at that level for some time in anticipation of the extra pay-out. South British is firmer, at £4 Bank of New Zealand shows no significant chance in price. It went to 51s, but came back later to 50s 6d. More confidence seems _to have been shown in Australian banks, which have been more active than for some little time New South Wales, Commercial, and Australasia have held their own. Woolworths (Sydney) have been fairly busy, a sale at the advanced price of 26s being reported from the south during the week. The New Zealand issue is firm at 25s 9d to 2bs and very scarce. Woolworths Properties are wanted at 31s. , , In the miscellaneous section, renewed interest has been shown in Guarantee Corporation shares, no doubt because of the prospects of revival of the motor trade. Radio shares have also been showing more life because of post-war resumption of trade. Radio (1936) shares have been selling at £2 0s 3d, ex dlv. In April they changed hands at 18s 6d. Woollen shares 'are very firm. Felt and Textiles moved up to the record figure of u9s ll Tne >V movement In Wilson's Cement continues to puzzle the market, particularly in view of the likelihood of controlled prices being continued The latest price this week was 21s Id, which brings the return back to a new low level for a first-class share. In the Australian section Broken Hill rt>. advanced to 48s, and there was a demand for Electro. Zinc, the preference shares ot wmen went to 60s, the highest for a long tune. (Mount Lyell have hcen fairly active at firm prices, and -Mount Morgan have Improved a little. :

Per cent. 2% .... 2i/ 2 .... 2% .... 3 3 3 3f .... 314 .... 3% .... 4 4 Year. 1946 1947-49 1953 1951-54 1952-55 1955-5S 1956-59 1957-60 1953-57 1952-55 1951-5S A year ago. 100 100 99% 101% 102% 106% Last week. *99V 4 9S% 90*4 *99 100 100 99 Vi ' 102% 102 Vi 105% IO71/4 Tins week. 99% 96 y*99 100 Vs 99% 99% IO21/2 105% *107