WELLINGTON STOCK EXCHANGE.

Manawatu Standard, Volume LVIII, Issue 7, 6 December 1937, Page 5

WELLINGTON STOCK EXCHANGE.

LAST WEEK’S BUSINESS AND PRICES.

A better tone developed in several sections of the stock and share markets last week, and a substantial volume of trading was recorded. Exceptional activity was seen in Australian metal issues, and the shares of Woolworths, Ltd., and G. J. Coles. Apart from these and a few leading industrial issues, however, the markets were dull with a generally easy tone. Better reports from London and New York and some improvement in the prices of base metals caused a favourable reaction in Broken Hill Proprietary and other leading Australian metal companies. 8.H.P., which had receded to 59s 4d, were strongly supported, and advanced steadily during the weeic, sales being made at up to 62s 9d. Trading in the new issue, 5s paid, opened at 335, and sales were made on Saturday at 35s 6d. Electrolytic Zinc were actively traded, the ordinary shares improving from 44s 3d to 47s 6d, and the preference from 46s lid to 50s 2d. There were heavy dealings in Mount Lyell, which moved up from 30s 9d to 33s sd. Broken Hill South rose from 34s 4d to 38s Id, later sales easing to 37s 3d: North Broken Hill ranged from 48s 5d to 52s 6d and 51s 6d. Mount Morgan improved from 10s 4d to 12s 4d, and Rawang Tin from 10s 4d to 10s 9d.

Exceptionally brisk trading was done in Woolworths Ltd., which, after touching a low level of 235, moved up briskly, a large volume of business sending the 5s shares up to 27s sd, this movement accelerating after the announcement that the merger negotiations with G. J. Coles had been broken off. Sales of Woolworths eased on Saturday to 26s sd. Woolworths (N.Z.), cum dividend and bonus issue, sold at the week-end at 98s 6d to 98s 9d. There was considerable buying of G. J. Coles, which, after touching 78s 6d, advanced rapidly to 84s, latter business being done at from 82s to 82s 6d. Selfridges (N.Z.), 12s paid, sold at 10s 9d. McKenzie’s Department Stores. had a sale at 73s 6d, and the rights sold at 41s 6d to 40s 6d recovering later to 41s 9d. Brewery issues attracted more interest, and New Zealand showed some recovery on Friday; after touching 44s 9d, they moved up to 475. Dominion Breweries sold at 40s to 40s 6d, one deal being made at 39s 9d. Tooths were done at 52s 4jd, Westland, 10s paid, at 20s 3d to 20s 9d, and Baliins 15s paid at 11s 9d. Government loans were dull, and a restricted business was done at prices that were barely steady. Local body issues and company debentures were, inactive. Bank shares remained generally dull, and | received poor support. New Zealand were a little irregular, sales ranging between 44s 4d and 44s Bd. Some activity was shown .by the D. mortgage issue, which sold at from 30s to 30s 4d, and back to 30s. Other issues were on the weak side'. National of New Zealand were 1 done at 565, Union at £9 ss, Commercial of Australia at 16s 9d and 16s lOd, and the preference at £9 13s 6d; New South Wales eased from £32 7s 6d to £32, but recovered to £32 10s. There was little doing in insurance shares. South British Were steady at 98s 6d, Standard were - firm at 59s 6d to 60s, and New Zealand eased from 64s 6d to 645. I’astoral issues attracted little interest, but Goldabrough Mort recovered from 30s 6d to 32s 2d. Abraham and Williams ordinaries sold at 72s 6d. Leading Australian industrial shares were somewhat irregular. Australian Glass eased to 84s 3d, but recovered later to 86s 6d. British Tobacco were a shade firmer on the annuoneement of a large increase in profit, sales ranging from 49s 3d up to 49s Bd. Colonial Sugar receded from £46 2s 6d to £45 ss, but recovered to £45 17s' 6d': Dunlop-Per-driau varied from 21s 9d to 22s Id, and the preference sold at 495. Henry Jones Cooperative sold at 46s 6d, and Hume Pipe at 20s to 19s 6d. New Zealand industrial issues were dull, and mostly on the easy side. N.Z. Refrigerating, 10s paid, sold at 9s 3d to 9s. Oamaru Woollen were done at 18s, and an old lot of Wellington Woollen at £5 7s 6d. N.Z. Paper Mills -were steady at 26s 6d. Wilsons Cement weakened on sales at from 18s 3d to 17s sd. Consolidated Brick sold at 7s 6d to 7s 4d. Union Steam preference wore firm at 27s 3d. Taranaki Oil improved from 6s 2d to 7s 9d. GoldMining issues were dull.

SATURDAY’S QUOTATIONS. The latest buying and selling quotations recorded on Saturday on the Wellington Stock Exchange were as follow :■ —

SATURDAY’S SALES. Wellington.—Bank of N.Z., *£2 4s 7d; Australian Glass, *£4 6s 6d; Broken Hill Pty., *£3 2s 4£d; Electro. Zinc, ord. (2), £2 7s 4d; McKenzies Dept. Stores, £3 13s 6d. *Late sale Friday. . Auckland. —Comm. Bank Aust. (2), 16s 9d; Bank of N.S.W., £32 10s; Bank of N.Z., £2 4s 6d, £2 4s 7d, D mort., £1 10s; Aust. Iron and Steel, pref.. £1 6s 10id; G. J. Coles,, £4 2s 6d; . Taranala Oil, 7s sd; Woolworths, Ltd., £1 6s lOd, £1 6s Bd. Dunedin. —Goldsbrough Mort, £1 12"3; G. J. Coles, £4 2s 3d; Woolworths Ltd., £1 6s 9d.

Buy ers Sellers. N.Z. GOVT. LOANS- £ s. d. £ s. d. 3£ p.c. Inscr. Stock. 3-1939-43 — 101 0 0 Ditto, 5-1939-52 101 2 6 Ditto, 1-1953-57 — 98 10 0 4 p.c. ditto, 2-1943-46 102 15 0 — 4 p.c. Bonds, 2-1943-46 102 17 6 103 5 0 Ditto, 4-1946-49 — 103 5 0 5 p.c. Rural Bonds, 15-9-1947 101 12 6 — DEBENTURES— Well. IIosp. Ba., 41 p.c., 14-9-43 — BANKS— 103 .0 0 Australasia — 11 0 0 Conn'd, of Aust., ord. — 0 17 0 Ditto, prof 9 13 0 — Conlrcl. Banking Co., Sydney — 20 0 0 Eng., Scot, and Aust. — 5 8 0 National of N.Z — *2 17 0 National of Australasia. £5 paid — 7 0 0 Now South Wales ... — 32 10 0 Ditto, London rcg. .. — 32 12 6 Now Zealand *2 4 3 2 4 8 Ditto, D long term ... — *1 10 2 Union of Aust — 9 10 0 FINANCIAL— Dalgoty and Co ■ — 10 0 0 Equitable Bdg. Co. ... - — 0 10 5 Goldsbrough, Mort ... 1 12 0 1 12 6 National Mortgage, A — 2 8 0 N.Z. Invest., Mort. and Deposit — 0 9 5 Wellington Investment, T. and A — 0 9 5 Well. Trust, Loan ... — 5 7 6 GAS— Auckland — 1 I 9 Christchurch 1 6 9 — Feilding 0 2 0 — / Gisborne — 0 8/6 INSURANCE— National of N.Z — 0 17 6 New Zealand — 3 5 0 Standard 2 19 0 — MEAT PRESERVING — . N.Z. Refrigerating ... — 0 19 6 Ditto, 10s paid — 0 9 3 Well. Meat Export ... 0 8 0 — TRANSPORT— Huddart, Parker", ord. 2 1 0 2 2 6 Union Steam, pref. ... 1 6 9 — P. and 0. def. stock 1 6 0 — Kelburn Tram., pref. 1 1 0 — WOOLLENKaiapoi — 0 12 6 Ditto, pref — 0 17 6 Oamaru — *0 18 6 Timaru —• 0 17 3 Wellington, pref. 5 10 COAL— 0 ICaitangata 1 4 6 — Pukemiro 0 18 0 — Taupiri ....; 0 16 3 — TIMBER— _ _ . Bartholomew — 0 19 u Kauri *1 2 4 Levland-O’Brien 0 19 0 Rotoiti — . 0 4 O Rotoiti, pref 0 19 0 Taringamutu +0 14 Tnupo, Totara, ord. .. — 3 —; 0 6 9 Ditto, pref 0 18 b Ditto, 16s paid, prof. — 0 14 6 BREWERIES- _ _ _ Carlton — 6 Z u Dominion 1 19 6 2 0 3 N.Z. Breweries 2 6 6 — Tooheys — 1 11 6 Queensland * — 1 7 0 MISCELLANEOUSAust. Glass 4 6 u — British Tobacco *2 9 3 — Broken Hill Pty 3 2 9 3 6 6 Ditto, 5s paid 1 1 — Burns, Philp and Co. — Claude Neon Lights 2 15 6

(N.Z.) — ti 9 0 Con. Brick and Pipe *0 7 4 0 7 7 Donhard, prof 1 0 0 Den. and Med. Sup. 0 13 0 — Dominion Fertiliser ... — 1 4 0 D.I.C., prof 1 3 9 — Dunlop Pordriau 1 1 11 — Electrolytic Zinc, ord. 2 7 5 2 7 6 Ditto, prof 2 9 6 2 i-U 6 Cl. J. Coles 4 2 3 4 2 6 Hume Pipe — 0 19 9 Macduffs, prof — 1. 0 0 McKenzic-s 3 13 0 3 14 0 Ditto, rights 2 1 6 — Moturoa Oil 0 4 — u 2 Taranaki Oil 0 7 4 0 7 7 Woolwortbs N.Z., ord. — *5 0 0 Ditto, new — *5 0 0 Woolworths Ltd., ord. 1 6 5 1 6 7 Radio (1936) — 1 i 9 MINING— Argo — 0 1 1U Grey River . Martha 0 12 5 — *Cum dividend. +Ex dividend.