SUPPLIES STILL SHORT

Evening Post, Volume CXL, Issue 54, 1 September 1945, Page 9

SUPPLIES STILL SHORT

Brokers were again left with unfulfilled orders on their hands at the end of Stock Exchange operations this week, in spite of the fact that turnover was fairly good and again well spread. Government Stock was wanted, and prices remained very firm. The demand for the 2Vs per cent, issues was, if anything, a shade easier, but prices held. Of interest was the turnover of a substantial parcel of the 1940 compulsory loan (2% per cent., 1953), which changed hands at the very good pries of £96 355. It shows a return of a shade over 3 per cent, at that figure. There was some business in the 4 per cents, at very steady prices. The approximate prices for Government loans at this time last year, for last week, and the highest prices paid this week, were:—

•Buyers. tVictory Loan. There were no significant changes in the banks section. New Zealands are pretty steady and quiet at round about EOs 3d, and National of New Zealand firm at 55s 9d. Australian banks are holding their,own. The market for insurance shares Is as strong as ever, with New Zealand Insurance still quoted at £4 18s 6d cum bonus. South British had a reported sale at Auckland at £4 11s Cd, which was a lift of 9d on the week and Is 6d since the beginning of the month. Meat shares are stronger, with few sellers. New Zealand Refrigerating have changed hands at 15s and 335. At the beginning of July the £1 shares were at 29s 6d. Wool Is unchanged, with practically no business passing, and fertiliser shares are steady, New Zealand Drug £2 being sold at £5 7s. In the brewery section prices are a shade weaker with limited business. Dominion being back to 535. There have been a few parcels of chain stores changing owners. Woolworths (Sydney) had a sale at 25s 9d cum div., and Woolworths (N.Z.) went up to 265. G. J. Coles \vere more active than most, and had a reported sale at £3 15s, which was Is 6tl rise on the week, and 5s sines the beginning of August. Keen interest has been shown in rubber company shares this week, following the announcement of (he tyre licences. Reid Rubber, one of the successful companies, has been a centra of interest, and dealings in the old stock have been fairly numerous. Sales early in the week were at 34s 6d, but under a keen buying pressure the price lifted to 38s, with the bulk of the later sales going through at 37s Sd, which seems to be about the price at which they have steadied. Prices seem to be getting a littlo high. Fletcher Holdings improved their position a little further, reaching 33s 9d in 3d rises during the week.

In the Australian group Mount Morgan has made a good recovery, a late sale being reported at 8s C? ; which is lOd up since the beginning of the \\onth. British Tobacco are firmer at 495, any.. Electro Zinc preference shares have held at*"6os.

?er :ent. !% j% j i it Year. 1940 1947-49 1953 1951-54 1952-55 1055-58 1956-59 1957-60 1953-57 1952-55 1954-5S A year ago. 100 99% 947s 100 99% 101% 102% 106% Last week. 99% 98 y 4 96% *99 100 Vs 99 T/s 99% 102% 105% *107 Tins week. *99i4 98% 96% 99% 100 % 99 ooy* 102% . 102% 105% 107%