SWING TO LOANS

Evening Star, Issue 23100, 28 October 1938, Page 6

SWING TO LOANS

FEATURE OF GALL-OVER FURTHER LOSSES IN N.Z. SCRIP Feature of this morning’s callover on the local investment market was the pronounced swing to Government loans, and, to a minor degree, local body debentures. Share values displayed little marked change with the exception of Australian mining scrip, levels in which tended to ease. Business was good, although restricted to reported transactions. Three issues of New' Zealand Government Loans reached the sales list, all dealings being below' par. Four per cent. Stocks, 43-46 and 52-55, changed hands at £99 15e, final vendors of the former scrip offering at the sale price, with buyers closing 5s away. The 46-49 stock changed hands at £99 10s, which was also Folders’ final offer in the room. Both of the 53-57 issues came in for attention from buyers. Dominion shares were quiet. Bank of New Zealands weakened, a seller at £2 Is 3d attracting buyers at £2 Os 3d, w'hile the D mort. issue was offered at £1 9s 6d. National Insurances were slack, but South British changed hands at £2 2s 3d, buying support reappearing. Mosgiel Woollens and Westport Coals closed fractionally easier, w'hile industrial issues were depressed, New Zealand Drugs being done at sellers £3 Bs. Commonwealth industrials were lifeless. with practically no marked change, Mining scrip, however, tended to ease. Support foil awmy for Souths and Lyolls, but Norths remained firm. Morgans wore quiet, pending the result of the election to the directorate. SALES DEPORTED. —Late Yesterday.— Australian Commonwealth Bonds, 4 per cent., 1950, £lO3 7s 6d. Mount Morgan, 10s lid. —This Morning.— 4 per cent. Stock, 1943-46, £99 15s. 4 per cent. Stock, 1946-49. £99 10s. 4 per cent. Stock, 1952-55. £99 15s. Dunedin City Corporation Debentures, 4J per cent., 1/4/47-50, £lO2. Invercargill City Debentures, 4-J per cent., 1/11/40, £lO2. Union Bank of i\nst., £8 15s 9d. South British Insurance, £2 2s 3d. SALE AFTER CALL. —Late Yesterday.— 1.C.1. (pref.), £1 2s 7d. laaaaiiiiHßSSßsaassßsaioi