INVESTMENT REVIEW

Evening Star, Issue 25939, 2 November 1946, Page 14

INVESTMENT REVIEW

MORE INTERESTING MARKET WESTPORT GOALS STILL WANTED Although the investment week was shortened by the Labour Day holiday, the market was more interesting than for some time, and business showed a tendency to improve. Better dividend announcements from Broken Hill Proprietary and Woolworths New Zealand helped prices, and speculative interest in Westport Coals was heightened, despite the denial by the Minister of Mines that the Government was considering acquiring more properties in the meantime. The relief from double taxation was reflected in increased attention given to selected issues, including National Mortgages and E.S. and A. and Union Banks, all of which advanced. Two leaders that slipped during the week were New Zealand Breweries and Mount Morgans, the latter on publication of their four-weekly production report, which showed an estimated net loss ot £4,002. Dominion Breweries were steady at last week’s lower level, but New Zealands had a period of hesitancy before settling about 52s 3d. . INTEREST RATES. There was again a good inquiry for Government loans, and the return from the 3 per cents, remained below par. Yields and prices of selected issues are compared below, where brokerage and accrued interest have been provided for:—

PRICE COMPARISONS. Approximate market prices of selected issues are compared with prices ruling a month ago in the first two- columns of the table below. The last column shows tlie yield on the investment at the current price:—

Tlio yield is worked out on the annual rate for the preceding year. No cognisance is taken of victory or peace bonuses, exchange gains on overseas dividend payments, or British income tax deductions.

Stock. Price. Yield. £ s. d. £ s. d. 2-l p.c., 15/6/1947-49 . .. 100 2 6 2 12 2 3‘p.c., 15/12/1953-56 . .. 100 17 6 2 19 5 3 p.c., 15/2/1955-58 . ..100 5 0 2 19 9 3 p.c., 15/11/1957-60 . .. 101 0 0 2 19 9

Approx. Market Price. Price Month Ago. Yield. Banking— £ s. d. £ s. d. £ s. d. Australasia 11 '0 0 10 10 0 3 8 2 Nj.S.W 37 5 0 38 5 0, 3 4 5 Commercial X i 9 1 i 2 3 8 10 E.S and A i; 15 0 6 2 6 4 1 6 National N.Z. 3 • 0 0 3 1 6 3 6 8 Union ' .... .... Insurance — 10 5 0 9 16 0 2 18 6 National 1 8 0 1 8 9 2 13 7 New Zealand .... 4 1!) 0 5 4 0 2 15 'i South British ;... 4 6 0 4 8 0 2 6 6 Standard ..a .... Shipping — 4 V 0 4 8 0 3 3 2 H't Parker,. ord. 3 11 6 3 12 0 3 7 10 Pi and 0 3 5 0 3 6 0 3 1 6 U.S S. Co., pref Meat — 1 14 0 1 13 10 3 4 8 Gear 1 11 6 1 11 6 3 3 G N.Z. Refrig , pd. N.Z. Refrig., 1 13 0 1 13 0 3 6 8 com Southland Froz., 0 16 0 0 17 2 . 3 8 9 ord 3 2 0 3 2 0 2 3 0 Waitaki Agency— 8 1.3 6 8 12 6 3 9 3 Dalgcty 9 7 G 9 7 6 3 4 6 Nat. Mort. "A" 4 11 0 4 9 6 2 14 7 Nat. Mort. "B” 2 7 0 2 6 0 2 13 2 L. and M.„ ord. 84 0 1) 83 0 0 3 13 0 Guar. Corp 0 4 8 0 'P 0 2 13 7 W.S ■ ord 1 17 0 1 18 6 3 15 8 W.S., pref Breweries— 1 8 •o 1 8 0 3 11 0 New Zealand ..it 2 12 3 2 14 6 3 5 l Dominion 3 0 0 3 7 6 3 6 s Dunedin .... Coal— 1 13 6 1 13 6 2 19 8 Kaitangata 1 4 6 1 4 6, 8 3 3 Westport 1 8 6 1 /5 3 2 18 5 Woollen : Biuce, ord. .... 2 1 0 2 1 0 3 18 1 Kalapoi, ord 1 6 0 1 5 6 4 12 4 Mosgiel .... 15 0 0 15 b 0 2 13 4 Oamaru 1 14 (I 1 14 6 3 10 n Wgtn , ord 9 17 6 10 5 0 4 1 0 Wgtn., pref. .... Miscellaneous— 10 0 0 10 5 0 4 0 0 A. Hordern' .... 1 5 0 1 5 0. 4 8 0 A.C.I 2 14 0 2 19 0 2 11 10 British Tobacco 2 14 6 2 16 6 3 6 1 B.H.P, 2 5 3 2 6 6 2 4 Colonial Sugar 57 '0 0 60 0 0 2 16 2 Consol Brick .... 0 13 10 0 12 7 2 14 8 D.I.C., ord 1 6 6 1 7 0 5 13 3 D.I.C., pref .... 1 9 0 1 9 3 3 9 0 Dom. Fertiliser 1 8 0 1 9 0 2 10 0 DonagltV's Dunlop Rubber 3 10 0 3 11' 0 2 10 4 ' Aust 1 12 0 1 12 0 3 2 6 Felt, Tex., N.Z. 3 0 0 3 2 0 2 13 4 Fletcher's, ord. 1 15 9 1 16 0 3 7 G. J. Coles .... 4 7 0 ' 4 7 ■ 6 2 14 10 Macdutfs, ord. 1 9 6 1 8 3 Macdutfs, pref. 1 8 0 1 8 3 0 b 9 Mil burn Lime 1 15 0 1 10 G 2 17 2 McKenzies 3 5 6 3 6 6 6 1 1 Nat. Electric. ....‘ 2 3 6 2 3 0 3 18 2 -N.Z. Drug 5 6 0 5 7 9 3 0 8 N.Z. Newspapers 2 7 62 7 6 2 16 1 N.Z. Paper Mills 2 4 3 2 4 0 3 6 3 ■ O.D.T.' 2 13 6 2 13 6 3 2 3 Regent Theatre Wilson's Cement 1 2 0 1 1 6 4 10 ii 0 19 0 0 19 0 2 3 10 Woolworths N.Z. 1 6 3 1 7 0 2 13 4 Woolworths Syd. 1 7 0 1 7 3 2 4 ° Mining — B.H. South .... 1 15 6 1 16 0 4 18 7 El. Zinc, pref. 3 3 0 3 7. 0 3 9 10 El. Zinc. ord. Mt. Lyell Mt. Morgan .... 3 1 0 3 8 0 6 3 3 1 0 7 3 9 0 0 0 3 9 10 North B.H 3 4 0 3 8 6 4 b 10