THE SHARE MARKET

Evening Star, Issue 22351, 29 May 1936, Page 7

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE SHARP RISE IN WOOLWORTHS (SYDNEY) Ordinary shares in Woolworlhs (Sydney) experienced another sharp rise on the local share market this morning, sales taking place as high as £5 Bs, which is 6s 6d more than the best sale price reported in New Zealand yesterday. Yesterday morning on the local exchange there were Buyers at £4 19s 6d unci sellers at £5 3s, but the market closed this morning with buyers at £5 6s, sellers £5 10s.

Once again there was a complete absence ot buying orders for banking issues, though selllers’ rates remained firm. Brokers consider that the present state of the market is temporary, though it is admitted that many of the banking issues have been showing comparatively poor returns on recent market prices. At 46s (which was to-day’s selling price) Bank of New Zcalanrts would show a return of just under 4J per cent., which must bo considered quite a satisfactory return on to-day’s market, but these shares provide an exception amongst banking issues. Reported business at 17s 9s<l represented a slight improvement in the market for National Insurances, and closing quotations were firm. New Zealand moved up 6d to buyers at 61s, without attracting a seller. After showing gradual improvement, Howard Smiths showed a rather rapid advance this morning, when buyers were fid and sellers 9d better tahn yesterday. The market for Union Steam prefs. was much about the tame.

The revival of interest revealed yesterday in meat shares resulted in two sales being recorded this morning. Gear Meats changed hands at 20s, followed by sellers at 20s 6d, while Refrigerating contributings hardened to business at 9« 2d, with further buyers at that figure, and no seller under 9s 4d. Sellers dominated the loan and agency section, the prices demanded apparently being too high to interest buyers. In the miscellaneous group there was a strong inquiry for Australian issues, and in nearly every case the market appeared to be hardening. Amongst unlisted stocks, Shillings Ltd. appeared easier, with buyers at 9s Bd, sellers at 9s lid. Quotations for Australian mining issues remained unaltered, and there was practically little change in the local gold mining market. SALES REPORTED. National Insurance, 17s 9sd. Gear Meat, £l. Refrigerating (cont.), 9s 2d. G. J. Coles, £3 18s 9d. Woolworths (Sydney), £5 ss, £5 8s (ex bonus issue). Quotations as under: —

3$ p.c. Stock, Sept., 1911-43 102 0 0 ■ 3$ p.c. Stock, May, 1941-52 ... 102 0 0 3$ p.c Stock, Nov., 1941-52 102 0 0 4 p.c. Bonds, 1937-40 102 10 0 4 p.c. Stock, 1937-40 102 5 0 4 p.c. Bonds, 1943-46 104 0 0 4 p.c. Stock, 1943-46 104 0 0 4 p.c. Bonds, 1916-49 104 10 0 4 p.c. Stock, 1946-49 104 10 0 4 p.c. Bonds, 1952-55 105 5 0 4 p.c. Stock, 1952-55 106 5 0

Buyers. Sellers. £ s. 1. £ s. d. BANKING— Australasia 12 3 0 New South Wales — 33 5 0 New Zealand — 2 6 0 Commercial — 0 19 2 E.S. and A — 6 4 6 National of New Zealand 3 14 6 Union of Australia Ltd. ; ' .. - 9 16 0 INSURANCE— National 0 17 7 0 18 0 Now Zealand 3 1 0 — SHIPPING— Howard Smith 0 18 3 0 19 0 U.S.S. Co. (pref.) .. 1 6 3 1 7 3 MEAT PRESERVING— Gear 1 0 6 N.Z. Refrigerating (paid) 0 19 3 N.Z Refrigerating (corit.) 0 9 2 0 9 4 South Otago Freezing Waitaki Farmers’ Freezing — 8 0 0 3 19 0 4 6 0 LOAN AND AGENCYDalgety 9 3 0 N.Z Loan and Mercantile (ord.) 30 0 0 40 0 0 N.Z. Guarantee Corp. 0 5 2 0 5 7 Perpetual Trustees ... — 3 5 6 Trustees, Executors, and Agency 3 18 0 Wright, Stephenson (pfet-) 3 - 1 0 0 COAL— Kaitangata 1 4 6 Westport — 1 2 6 WOOLLEN COMPANIES— Bruce (ord.) 0 13 3 0 14 6 Bruce (pref.) — 1 4 0 Kaiapoi (pref.) 0 18 0 — 0 Mosgiel — 10 0 Oamaru 1 0 0 — MISCELLANEOUS— Anthony Hordern .. 0 18 4 Australian Glass 4 9 0 4 10 6 British Tobacco 2 1 0 ,— Broken Hill Proprietary 3 3 6 3 4 9 Broken Hill Proprietary (cont.) ,. 2 0 0 _ Brown, Ewing (pref.) 1 2 0 Colonial Sugar Co, — 42 0 0 D.I.C. (pref.) 1 3 3 1 3 10 Dominion Fertiliser .. 1 4 6 1 5 6 Dominion Fertiliser Debs. 105 10 0 Dunedin Stock Exchange Propy. ,. 2 0 0 _ G. J. Coles 3 18 6 3 19 3 Hume Pipe .. 0 18 9 0 19 U Milburn Lime and Cement 2 2 6 M’Leod Bros. (rights) 14 0 0 _ National Electric — 0 12 6 N.Z. Drug Co. ,. 3 19 6 4 0 6 N.Z. Newspapers 2 2 6 2 3 9 N.Z. Paper Mills — 1 10 0 ‘ Otago Daily Times ’ — 2 10 6 Regent Theatre — 1 1 0 Smith and Smith (pref.) Wilson’s (N.Z.) Cement 1 1 6 2 6 6 Woolworths (ord.) .. 8 0 0 — BREWERIES— New Zealand ... .. 2 13 3 2 14 0 UNLISTED STOCKS— M’Intosh, Caley, Phoenix 0 9 0 Woolworths (Sydney, ord.) ... 5 6 0 5 10 0 Shillings Ltd 0 9 8 0 0 11 AUSTRALIAN; MINING— Electro. Zinc (ord., £1) 1 17 0 Mount Lyell (£1) 1 4 6 1 4 8 North Broken Hill (£1) 8 4 0 - GOLD MINING— Big River (Is) 0 2 2 Brian Born (Is) — 0 0 4 Clntha River (2s) 0 2 0 — Gillespie’s (is) 0 1 0 0 1 3 Lawson’s Flat (Is) .. 0 0 i£ 0 0 5 Molyneux River (2s) 0 2 0 — Mount David (5s) ... — 0 1 0 Nokomai (5s) 0 2 0 0 2 8 Okarito (5s) 0 3 0 0 4 0 Paddy's Point (5s) ... — 0 4 0 Skippers (Is) 0 0 2i 0 0 3 Waipapa Beach (Is) 0 0 11 0 1 3 Waitahu (5s) 0 2 3 0 2 9 N.Z. GOVERNMENT LOANS— (Bonds quoted are £100 Bonds.) 3Jr p.e. Stock, Nov., 1938-52 102 0 0 , 3|) p.e. Stock, March, 1939-43 102 1 0 3j p.e. Stock, Sept., j.933-43 102 0 0 3j p.e. Stock, May, 1939-52 102 0 0 „ p.e. Stock, March, 1911-43 102 0 0