COMMERCIAL REVIEW

Evening Star, Issue 25470, 28 April 1945, Page 9

COMMERCIAL REVIEW

QUIET BUT FIRM UNDERTONE SELLERS LOTH TO QUIT SCRIP Firm and well spread buying support for all leading shares continued to characterise investment operations on the Dunedin Exchange during the week ended last night. Vendors were again hesitant in meeting quotations except at enhanced values, and turnover fell to the poorest total this year. Prices generally remained firm on recent rates in the absence of sufficient vendors to meet demands. The intervention of Anzac Day emphasised the slack tendency, and recorded business was marked down at £3,955 worth of Government loans, and 2.585 investment and 50 mining shares. Although transactions in loans were reported almost, daily, there was a quieter undertone in the section. Holders- of some 3 per cents, failed to attract a buying response, with the majority of declared purchasers seeking the longer term stocks. Banking scrip was accorded good support. Interest in New Zealands waned as the price steadied at about £2 7s 9d, while dealings fell off sharply. It was the quietest period for this scrip in six weeks, but another Ministerial hint of.the Government's intentions would cause further fluctuations in the shares. Nationals of New Zealand improved, their gain over the last four weeks now amounting to 3s, while Unions remained strong. Insurances also came in for improved attention under persistent buying pressure; with New Zealands receiving special support. Meat preserving and agency scrip were steady on late rates, while breweries appear to have settled on a comparatively stable level. The ordinary issue of Fletcher Holdings weakened over the week, arid after touching business at 30s closed on a market of 28s 9d. Holders of the shares have made a comfortable margin even so, however, for a few weeks ago they were available at about 255. Some transtasman leaders improved fractionally, notably G. J. Coles and Colonial Sugars, but Dominion industrials generallv were inactive. Mount Morgans again provided the feature of the Australian mining section with business up to 7s 3d, a gain of Is in the past fortnight, made (under the stimulus of an improved fourweekly operating report. The next return is being awaited with considerable interest, as holders of Morgans have been in an unfortunate position during the war years. Other leaders were quiet and steady. MARKET VALUATIONS. Market valuations of selected issues as at the close of business this week, compared with prices ruling approximately' a month ago in parentheses, are as follows: Banking.—N.S.W., £34 (£33 15s); N.Z., £2 7s 9d (£2 8s 6d); Comta., 17s 7d (17s 8d); E.S. and A., £4 13s (£4 13s 6d); National of N.Z., £2 17s (£2 14s); Union, £8 6s 6d (£8 Is).

Insurance.—National, £1 5s (£1 4s 6d) ; New Zealand, £4 14s (£4 10s); South-Bri-tish, £3 18s 6d (£3 19s 3d); Standard, £4 10s 6d (£4). Shipping.—Huddart, Parker (ord.), £3 2s (£3 Is 6d); P. and O. Stock £2 12s 3d (£2 12s 3d); U.S.S. Co. (pref.), £1 lis 4£d (£1 lis 3d). Meat and Agency.—Gear Meat, £1 5s 9d (£1 5s 6d); N.Z. Refrig. (paid), £1 9s 6d (£1 8s 7d); cont., 14s '3d (13s 6d); Dalgety and Co., £8 12s (£8 6s); Loan and Mercantile (ord.), £65 (—); Wright, Stephenson (ord.), £1 7s 9d (£1 7s 6d); pref.. £1 5s 6d (£1 5s 6d). Breweries and Coal.—N.Z. Breweries, £2 4s 6d (£2 4s 6d); Dominion, £2 8s (£2 8s 3d);. Dunedin, £1 9s 6d (—); Kaitangata Coal, £1 8s 6d (—); Westport, £1 9s 8d (-). Woollen.—Bruce (ord.), £1 14s 3d (£1 14s); Kaiapoi (ord.), £1 3s (£1 2s): Oamaru, £1 7s 6d (£1 7s 6d); Wellington (ord.), £8 5s (£8 ss). Miscellaneous.—A.C.l., £2 16s (£2 15s 9d); British Tobacco, £2 10s (£2 10s); 8.H.P., £2 5s (£2 4s 6d); Colonial Sugar, £57 10s (£57); Consolidated Brick, 10s 2d (10s 3d); Dominion Fertiliser, £1 5s 6d (£1 ss); Dbnaghy's Rope, £3 8s (£3 8s); Dunlbp Rubber, £1 5s 3d (£1 ss); Fletcher Holding (ord.), £1 8s 9d (£1 5s 9d); G. J. Coles, £3 10s (£3 9s 6d) ; Kauri Timber, £1 10s (£1 9s); Macduffs (ord.), 16s 7d (17s); McKenzies Dept. -Stores, £3 2s 6d (£3 Is 9d) ; National Electric, £1 12s (—); N.Z. Drug (£2 paid), £5 (£5); cont., £3 (£3); N.Z. Newspapers, £2 4s 6d (£2 ss); N.Z. Paper Mills, £2 0s 6d (£2 0s 3d); 'O.D.T.,' £2 lis (£2 10s 9d); Regent Theatre, £1 Os 6d (£1 0s 6d); Wilsons Cement, 19s Id (19s Id); Woolworths N.Z. (ord.), £1 2s 7d (£1 2s 6d); Woolworths Ltd., £1 2s 9d (£1 Is 8d). Australian Mining;—Broken Hill South, £1 8s 6d (£1 8s 6d); El. Zinc (ord.), £2 16s 6d (£2 17s); pref., £2 17s 3d (£2 18s); Mount Lyell, £1 9s 6d (£1 9s 6d); Mount Morgan, 7s 3d (6s 3d); North Broken Hill, £2 13s (£2 13s 3d).

DIVIDENDS DUE. South British—lnt., Is a share ... April 26 Brit. Tob.—lnt. pf., 1| p.c April 27 Onited Prov.—lnt., pref., 4 p.c; ord., 3 p.c. April 30 Drug Houses,' A'asia. —Int., 3 p.c. April 30 Abraham and Williams ord., 2i p.c April 30 William Cable—Pref., 3i p.c. ... May 1 Gen. Industries —Ord., 10 p.c; final, pref., p.c May 1 Howard Smith—Final, ord., 3 p.c May 2 Macky, Logan —Pinal, 4£ p.c ... May 4 Sharland —Int., all shares, 2{ p.c. May 10 Northern Roller Mills Ord.. 4 p.c May 11 National Insurance—lnt., 4d ... May 16 Bank Adelaide—lnt., 2£ p.c. ... May 36 Oamaru Wool—lnt., 3 p.c. ... May 17 Nt. Bank A'asia—lnt., half-y'rly, 2j p.c May 25 Electro-Zinc —Int., pref. and ord., 4 p.c May 25 Broken Hill Pty.—Final, 24 p.c. May 30 Farmers' Trad. —A and B pf.. half-yearly, 5 3-5 p.c. p.a., 0 pf., 2i p.c May 31 Bank N.Z.—Final, ord., 4 p.c, D mort., 3} (less tax) June 15 1.C.1. (Ltd.)—Final, 5 p.c July 2