GOVERNMENTS ACTIVE

Evening Post, Volume CXL, Issue 132, 1 December 1945, Page 9

GOVERNMENTS ACTIVE

Government stock has been very active this week, but in spite of the heavier turnover the demand is still far from satisfied. .Prices; have remained very firm, with the- 3 per cents., which, show a return of somewhere about 59s 6d, leading the business. The 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. 2»A 1947 . 98% 99% 99^» 2V,f .... 1950-51 — 98% 99 2 V. 1953 93% 9? 9<& 3" .... 1951-54 981/ i 101 *100% 3 .... 1952-55 97% 100% 100% 3 .... 1955-58 - ' 100% 100% 3% .... 1953-57 102% 103% 103y a 4 .... 1952-55 — 106% 106% ♦Buyers. t Victory Loan, In the insurance group New Zealand has shown a substantial rise, sales being reported at up to £5 Is, which is 5s 6d up since the beginning of the month. The probability is that large taxpayers are concentrating on firstclass stocks of this class which are returning tax-free dividends that are likely to be maintained. Also it is possible that some of the holders of Bank of New Zealand shares are converting them into 3 per cent, taxable stock on the basis of 53s 4d, selling the stock and picking up what they can of investments like New Zealand Insurance, which is showtag round about 2% per cent, free of tax. Of interest has been the activity in lelt and Textiles, which are still on the unofficial list. Sales have been reported at from 37a 3d to 395. many of them in small parcel, which suggests that those who drew a packet of 50 in the recent ballot are getting out at a good profit. Previous holders of shares probably regard this as a satisfactory way of increasing their holdings. Breweries are very firm, particularly Dominion Breweries, which has increased its interim dividend by V 2 per cent, to 8% per cent Sales were reported at 57s 3d and o.s 6d, but it ia doubtful whether the latter price would buy them now. New Zealand Breweries changed hands at 46s 6d, ex dividend, which is a slight rise *on the week. P and O. stock continues to follow the improvement in London, and up to 60s was quoted locally yesterday. There has been little change in the .general run of shares. The popular Issues _ are as firm as ever, and very little is reaching the market. In the Australian section few changes, are noted. Electro. Zinc is firmer, and Colonial Sugar have recovered a little.