Investment Market To-day

Evening Star, Issue 23092, 19 October 1938, Page 8

Investment Market To-day

SWING TO AUSTRALIANS SOUND INDUSTRIALS SOUGHT BANK OF N.Z.S SELL AT £2 1/• The swing to Australian issues was more pronounced this morning, and sound industrials were marked up. New Zealand scrip remained easy, with a few further slight falls recorded, but movements generally were very restricted. Business was good, although limited to reported transactions. Yesterday's sales list was the heaviest for some time, a legacy of the general elections. Prominent among Dominion shares were Bank of Now Zealands. The scrip immediately reacted to pre-elec-tion speculation on the return of Labour, and since Monday has been falling steadily, if slowly. This morning’s reported transaction at £2 Is is the lowest valuation for a long time, and is easily the lowest recorded locally this year. Buyers came on at that price, but sellers asked 6d away. Nationals of New Zealand were on offer at £2 13s, but no response was forthcoming. Australian issues, however, received firm support, New South Wales advanced 2s 6d on business, while Commercials (pref.) and E.S. and A.s had stronger buyers. New Zealand Breweries were lowered Id on business, but buyers held late rates of £2. Other Dominion issues were quiet, but vendors formed a large majority. The only buying quote to show any improvement was for Bruce (ords.), a purchaser raising limits 6d to 3s 6d. Prominent among Australian industrial movements were G. J. Coles. Dealings were recorded between £3 19s 3d-£3 19s 6d, an unanswered holder quoting £4 at the close. 1.C.1.s (pref.) came in for better attention at stronger rates, buyers advancing limits to £1 2s. Broken Hills were quiet. Australian mining scrijj was lethargic, and on the balance displayed little marked change. SALES REPORTED. —Late Yesterday.— 3J per cent. Stock, 1938-52, £IOO. Bank of New Zealand, £2 2s, £2 Is lOd. National Insurance, 16s 6d. 1.0.1. (pref.), £1 2s Id (2). New Zealand Breweries, £2 Os 3d (2). Mount Morgan, 11s 3d. —This Morning.— Bank of New South Wales, £3l os. Bank of New Zealand, £2 Is. 1.C.1. (pref.), £1 2s Id. G. J. Coles, £3 19s 44d, £3 19s 3d, £3 19s 6tl. New Zealand Breweries, £2 Os 2d (2). SALES AFTER CALL. —Late Yesterday.— Woolworths (Sydney, ord.), £1 Is (2). Mount Lyell, £1 9s 6d. STOCK EXCHANGE INDICATOR Government Loans ... Poor support Banks Uncertain 1 Insurance Slightly easier Shipping Quiet Meat Preserving Easy Coal Steady Oil Firm Woollen Lifeless Aust. Industrials Firmer N.Z. Industrials Easy Breweries Little change Aust. Mining E' rm CALL AND DIVIDEND LIST. Wunderlich Ltd.—lnterim, halfAustralian Paper and PulpFinal, half-yearly, ord. and pref., 4 per cent ••• Oct. 24 N.Z. Guarantee Corporation Ltd. —Final, 2d a share Oct. 26 South British Insurance—Final, Bid per share, or at the rate of 14 1-6 per cent, per annum Oct. il United Provisions —Ord., 3 per cent pref., final half-yearly, 4 per- cent , o<=t. 28 Drug Houses of Australia —34 per cent., making 6J per cent, per annum ...•••• oct ” 31 Martha Gold Mine—lnterim, 9d (free of tax) - Nov - 1 Imperial Chemical IndustriesOrd., 3 per cent. ... - ... Nov. 1 Australian Iron and Steel—Pret., 5 13-16 per cent ••• Nov. 1 Bank of Adelaide—lnterim, at 5 per cent, per annum ... Nov. 2 Emperor Gold Mines—ls a share Nov. 10 North Kalgurli (1912) Ltd.—9d sterling, less 3s in £ English income tax Nov, 25 CALLS DUB. Woolworths Properties Ltd.—"los a share, making £1 paid ... Oct. 31 Broken Hill Pty,—Con 5 s a share, making 13s 4d paid ... Nov. 50 COPPER RESTRICTION THREE PRODUCERS TAKE STEPS determined to keep price under CONTROL LONDON, October 18. (Received October 19, at 11 a.m.) Rhodesian, Chilean, and Belgian Congo copper producers operating under the restriction have revised the decision of October 10, and are removing all restrictions for whatever period is considered advisable, resulting in the metal, after reaching £4B 10s, the highest for the year, yesterday closing at £47 10s. The decision is regarded as an indication of the producers’ determination not to allow prices to escape control. DOLLAR AND FRANC Press Association - By Telegraph—Copyright LONDON, October 18. (Received October 19, at 11 a.m.) The dollar is quoted at 4.70 i. Tho franc is quoted at 178 11-16.

DUNEDIN STOCK EXCHANGE THIS MORNIHG'S CALL LATEST QUOTATIONS

UNLISTED STOCKS— All stocks in this section are not quoted on the official list, and transactions are subject to a different rae of brokerage:— Woolworths’ Properties (10s) 013 10 014 3 NEW ZEALAND BONDS FALL IH LONDON RESULT OF LABOUR’S RETURN. Press Association—By Telegraph—Copyright LONDON, October 18. (Received October 19, at 11 a.m.) The ‘ Financial News ’ says Labour’s return iu New Zealand has disappointed the bond market. There is not much selling, but the stock is being picked up quietly by buyers hoping for the swing of the pendulum. Dealers, as a precautionary measure, lowered their prices. The falls in leading issues, compared with October 14, are:—3s per cent.' Stock, 1940, 1; 5 per cent. 1945, i; 4J per cent. 1945-58, £; 3 per cent. 1945. 1; 3 per cent. 1952-55, J. ANTWERP FUTURES Press Association—By Telegraph—Copyright LONDON, October 18. (Received October 19, at 11 a.m.) Antwerp futures are quiet. December, 23id; March, 23|d.

Buyers. Sellers. £ s. d. £ S. d. N.Z. GOVERNMENT LOANS— 31 p.c. Stock, Nov., 1938-52 —. 100 10 0 p.c. Stock, March, . 193943 — 98 10 0 | t0C k’ ‘ 101 0 0 _ 3i p.c. Stock, Nov., 1941-52 101 0 0 _ 4 p.c. Bonds, 1943-46 100 0 0 — 4 p.c. Stock, 1943-46 100 0 0 — BANKING— New South Wales (£20) ... 31 5 0 — New Zealand (£1) ... 2 1 0 2 1 6 New Zealand, Long "D” (£1) — 1 10 0 Commercial (10s) — 0 17 0 Commercial (pref.. £10) 9 6 0 E.S.- and A. (£3) ... 5 5 0 National of New Zealand (£2 10s) ... — 2 13 0 Union of Australia Ltd. (£5) — 8 15 0 INSURANCE— National (7s) 0 16 9 South British (£1) ... — 2 7 6 Standard (£1) “ 2 16 0* SHIPPING— U.S.S. Co. (pref.. £1) 1 5 9 1 6 9 MEAT PRESERVING— N.Z. Refrigerating (paid, £1) 0 18 3 N.Z. Refrigerating (cont., 10s) 0 7 9 — South Otago Freezing (£5) — 5 3 0 LOAN AND AGENCYGoldsbrough, Mort 9 (£1) — 1 6 Trustees, Executors, and Agency (£3) ... Wright, Stephenson 4 0 0 — (pref., £1) *■“ 1 0 3 COAL— Westport (10s) — 1 5 0 Wes tport-Stockton (ora., 10s) — 0 5 0 Westport-Stocfkton (pref., 10s) 0 6 0 OIL— Taranaki (£1 4s 7d) 0 13 0 — WOOLLEN COMPANIES— Bruco (ord., £1) 0 3 6 — 0 Mosgiel (£4) .... ... — 9 1Y MISCELLANEOUS — Associated News (£1) 1 1 0 — Associated News 0 (pref., £1) ... .... 1 3 — Australian Foundation I Trust ••• — 0 5 British Tobacco (£1) — 2 8 6 Broken Hill Proprietary (£1) — 2 17 3 2 18 3 Broken Hill Proprietary (cont., 10s) ... — 1 13 9 Brown, Ewing 6 (pref., £1) ; 1 0 — Consolidated Brick 8 3 (£1) D.I.C. (pref., £1) ... — 0 1 0 0 Dominon Fertiliser (£1) — 1 4 3 Dominon Fertiliser, 101 Debs 0 0 — G. J. Coles (£1) ... — 4 0 0 I.C.I. (pref., £1) ... 1 2 0 1 2 6 Miiburn Lime and Cement (£1) ... 1 16 0 N.Z. Drug Co. (£2) — 5 10 0 ‘ Otago Daily Times ’ 0 (£1) - .... - — 2 3 Smith and Smith (pref.. £1) — 1 2 0 Wilsons (N.Z.) Cement (10s) — 0 18 0 Woolworths (ord., 5s) — 1 0 0 Woolwortbs (Sydney, ord., 5s) 1 0 11 1 1 4 BREWERIES— New Zealand (£1) ... 2 0 0 — Tooth’s (£1) 2 13 6 OVERSEAS LIST— Woolworths (South Africa) 0 15 3 OVERSEAS MINING— Broken Hill South (5s) — 6 I 13 0 Mount Lyell (£1) 1 9 — Mount Morgan (2s 11 6d) ... 0 0 U 11 4 Mount Morgan (pref.. £1) - 1 1 0 — North Broken Hill 6 (5s), 2 9 GOLD MINING— Austral N.Z. (£1) — 1 i 3 Big River (Is) 0 1 0 0 i 1 Clutha River (2s) ... — 0 2 6 Gillespie's (Is) ... ... — 0 1 1 Goldfields Dredging (Is) ... — 0 0 Nokomai (5s) — 0 1 9 Okarito (5s) 0 2 0 — Sandhills (Is) — 0 0 2 Waitahu (6s) 0 0 9 —