CAUTIOUS TONE

Evening Star, Issue 23353, 24 August 1939, Page 9

CAUTIOUS TONE

AUSTRALIANS STILL UNCERTAIN FIRST LOCAL QUOTATION OF A.G.I. RIGHTS Commonwealth leaders remained weak this morning with some further restricted losses recorded. Dominion issues were fairly well supported, while business reported was the best morning’s list for a long time. Broken Hill Proprietaries again came on offer at £3 6s 6d, but there were no takers. Sydney Woolwortha found a cautious market, while G. J. Coles s limits narrowed. Australian Consolidated Industries were available at £1 17s 6d, while rights to the new issue had their first Dunedin quotation, a vendor asking Cs 9d. Metals were almost neglected. Morgans dropped back to between 9s od--9s Bd, while holders of Zinc ords. cut limits to £2 14s 3d, but even at that valuation there was no inquiry ._ Government loans were agaim accorded firm support, with three of the 4 per cent, issues reaching the sales list. Bank of New Zealands eased to £1 19s 9d, with best buyers 6d away. Support was fairly well maintained tor Dominion industrials, but buyers were more cautious, SALES REPORTED. —Late Yesterday.— 4 per cent. Stock, 1952-55, .£97. —This Morning.— 4 per cent. Bonds, 1943-46, £9B 7s 6d. 4 per cent. Stock, 1943-40, £9B ss. 4 per cent. Bonds, 1952-55. £97. Gisborne Harbour Board, 1/5/44, 4J per cent., £lOl. Bank of Now Zealand, £1 19s 9d (late yesterday). Commercial Bank, 16s Id (late yesN.'l? Refrigerating (cont.), Ss. Auckland Gas, 15s 3d, Electrolytic Zinc (ord.), £2 14s.