MARKET REVIEW

Evening Star, Issue 25701, 26 January 1946, Page 12

MARKET REVIEW

TOO FEW SHARES ACCUMULATION OF SURPLUS MONEY Business recorded during this week has been small, the reason bejng that, although there are plenty of buyers, sellers have been very reluctant to offer at anything like market prices. A number of the investing public are also still occupied with arranging for conversion or redemption of Government loans falling due, and deciding on what option to exercise in respect of Bank of New Zealand shares. Government loans have been in keen demand, and sales continue at prices to show approximately 3 per cent. The loan offered to holders of Bank of New Zealand shares has been traded in at £99 10s. All the Australian banks are in demand, and buyers are paying slightly increased prices. Insurances are also wanted at higher limits. The brewery section has shown activity, and both New Zealand and Dominions have shown improvement in market value. The public probably realise that beer will continue in heavy demand, as supplies of spirits must be restricted for some considerable time to come. The miscellaneous section has also been characterised by keen buying quotes, with relatively few sellers. Most sales made have been at prices in advance of those ruling at the end of 1945, and the Australian mining section has shown similar movements. The position in New Zealand seems to be that there are too few shares offering to make much impression on the large accumulation of surplus money looking for suitable investment. Some potential investors consider prices too high, and are content to purchase Government loans and fill up their Post Office and Savings Bank accounts, while others are sure that the lowered value of money is here to stay, and that share prices are therefore more liable to go up further than to show anv recession.