BUSINESS STILL BRISK

Evening Star, Issue 23444, 8 December 1939, Page 9

BUSINESS STILL BRISK

ANOTHER GOOD BATCH OF SALES DOMINION FERTILISERS INCREASE Business was again brisk on the local investment market this morning, and a good number of sales were reported. These were widespread, including New Zealand and Australian mining, breweries, insurance, gas, meat: preserving, and Australian metal shares. No business was transacted in Government loans,' but the section'was again active, prices remaining firm. ■ In banking, a buyer sought E-S. and A. at the advanced, of £4 14s. New Zealand showed a buying advance of 3d, sellers standing ,9d away. In .insurance a sale of Standards was reported at £1 ,18s. Trustees, Executors shares rose Is on buying quotation, there being no sellers. OnCe again woollens were active, there being a demand for nearly all scrip. Increases were recorded in some issues, notably Mosgiels, which reached £9 7s 6d, but otherwise values were firm. In miscellaneous Dominion Fertiliser were quoted at the advanced rateof £1 6s. No buyers came forward in Broken Hill Proprietaries, and a seller reduced his price to £4 7s 9d. delivers were-active in this section, but sellers generally remained silent. New Zealand Breweries reported a sale at £1 16s, but this morning buyers and sellers stood 3d away either direction. Austral New Zealand mining fell back to £1 8s 6d selling price, and a sale was reported at £1 Bs. There tfere no buyers on the call.

SALES REPORTED. —This Morning.— Austral New Zealand, £1 Bs. Electrolytic Zinc (ord.), £3 3s 6d, £3 3s 9d. Southland Frozen Meat, £1 10s 6d. Auckland Gas, 17s. . Australian Consolidated Industries. £2 2s 6d. New Zealand Breweries, £1 16s. —Late Yesterday.— . , Standard Insurance, £2 18s. New River, ll]d. AUSTRALIAN INDUSTRY EXPANSION IN INVESTMENT AND PRODUCTION CAfITAL FLOW TO BE CONTROLLED Demand for production of industry will b© strengthened -by increases in purchasing power under conditions of war economy,' and, supported by substantial orders for defensive equipment,, should crdSfe—netf" opportunities for investment and production. This conclusion':ls contained in an article in the weekly economic review of the Sydney Stock Exchange Research and Statistical Bureau, discussing the figures of trade and industry in the first months of war. The prospects of continued expansion of secondary industries are bright, the review says, , The power , vested in the Federal Treasurer tp control the flow of capital for new investment will not be used to check legitimate private enterprise, and the Advisory Board of’ Investments has announced that, subject to the satisfaction of defence requirements, encouragement will be given to the organisation and establishment of new industries. Negotiations are proceeding with the object of ensuring continuity, of supplies of essential materials - from the United. Kingdom, especially for'the production of'war equipment and munitions for abroad, orders for these, to a total -of £2,500,000, having been already received. FIRST PAYMENT NEW ZEALAND WOOL NEARLY HALF A MILLION [Pee United Pkess Association.] WELLINGTON, December 7. Advice was ! received by the Marketing Department in a cablegram from London to-diay that the first payment on account of wool purchased from ’ New'Zealand by the United Kingdom Government had been paid into the Reserve Bank’s' account at the Bank of England. Making this announce-ment-in s broadcast, the Minister- of Marketing (Mr W. Nash) said the amount of this cheque was £476,910. The payment was the first in connection with the new procedure, and was for wool appraised in Auckland, Gisborne, Tolaga Bay, and Tokomaru Bay. The department was ready to make a payment to the brokers on the prompt, dates, the .first of which was Saturday. Payment could, however, only be made on receipt of the brokers’ invoices, some of which were not yet' to hand. AUSTRALIAN STUCK EXCHANGES Press Association— By Telegraph—Copyright SYDNEY, December 7. The Stock Exchange was active, with prices moving higher, £ s. d.

Bank of New Smith Wales 26 17 0 Commercial Bank of Sydney 18 8 0 Tooth’s .;. ... ... 2 13 0 Toohey’s ... ... ... 1 8 7 G. J. Coles 8 12 6 WOolworths 1 1 10 Consolidating Industries ... 1 17 0 Mauri Brothers 3 9 0 Henry Jones 2 15 9 Electrolytic Zinc ... 2 17 9 (pref.) 2 19 0 Broken Hill Proprietary ... 3 19 6 MELBOURNE, December 7. £ S. d. National Bank (£5 paid) ... 5 18 6 Consolidated Industries 1 16 8 G. J. Coles 3 12 6 Goldsbrough, Mort 1 7 3 Broken Hill Proprietary ... 3 19 3 Mount Morgan ... .... 0 9 0