THE SHARE MARKET.

Manawatu Standard, Volume LVIII, Issue 177, 27 June 1938, Page 4

THE SHARE MARKET.

;; IMPROVED TONE.. I THE" WEEK IN WELLINGTON. While there-was no sign ’of any im--3 provement in bank shares and New f Zealand industrial issues last, tvcjsk, 5. there was a definite and welcome recov- , ery in shares dependent on overseas markets, notably Australian metal is- ■ sues. Business opened on a very de- ' pressed note, but a definite uplift iti base metal prices quickly influenced the 1 situation and the dependent shares re- ’ sponded. The upward movement con- ; tinned throughout the week and further improvement seems assured by the | latest cable messages, from New 'York ’ and London. Wall Street reports a “strong feeling of confidence” and London says that, “hopes that the long-awaited revival is near are running high in manv quarters.” 'Hie improvement in- the prices of base metals last week is'Shown in the following “spot” quotations:—

Silver (standard), per ox 18jd 19d llow the prices of Australian metal companies 7 shares, liavo responded is shown in Ute following comparative

There was a fairly active turnover of Government loaii3 during the week, mainly in the 3J,- per cent, tax-free stocks. Prices, however, showed little change. Bank shares remained in the doldrums, the volume of business being small with Small movement in prices. New Zealand were a little easier ,on gales at from 43s 6d to 43s 3d. National of New .Zealand held their recent advance at 55«. Commercial of Australia sold at 15s Bd, E., S. and A. at. 975, Australasia at £9 14s, New

South Wales at £3l 10s to £3l 7s 6d, and Union at £8 5s 9d. The preference Issue of Commercial of Australia sold at £9 4s to £9 4s 3d. The little- business in insurance shares included National at 17s 5d to 17s 6d, New Zealand at 56s 9d (o 56s 6d, South British at 46s 9d, and Bankers and Traders at 31s 10|d. Pastoral issues were inclined to firm late in the week, but business was done previously in Dalgety at £7 17s 6d. Goldsbrough Mort at 26s 6d ahd National Mortgago A at 435. Newton King preference were firmer' at 9s. New Zealand Guarantee Corporation sold at 4s sd. Wilcox, Mofflin improved from 5s 5d to 6s 6d. Chain and other retail Store shares were unusually quiet. G. J. Coles made an irregular course, moving up from 80s 3d to 82s, and back to 81s 4d. Woolworths, Ltd., recovered from 20s 3d to 20s 6rl, and there were first dealings in Woolworths Properties, 10s paid, at 13; sd. WOolworths Holdings made from . 15s 6d to 15s 7d. Anthony Horderns sold at 16; lOd and Farmers’ Trading at 21s.

New Zealand industrial issues were extremely quiet, with an easy tone. Exceptions were Westport Coal, which sold to 24s 9d, and Westport-Stockton Coal, which improved from 3s 5d to 3s Bd, the preference issue firming to 7s. NCw Zealand Breweries recovered from 40s 9d to 41s 3d, but Dominion Breweries eased from 36s 3d to 365. Auckland Gas sold at 20s 3d to 20s 6d, and Christchurch Gas at 27s 6d. There was little doing in. meat freezing issues. New Zealand Refrigerating sold at 18s 6d, and the 10s paid at 8s 4d to 8; sd. Southland Meat had business at 29s 9d. Kauri Timber were done at 21s 3d to 21s 6d. and Wilsons Cement at 16s 2d to 16s 4d. New Zealand Drug improved from 67s 9d to 68s 3d. New Zealand Farmers’ Fertiliser firmed from 18s 6d to 19s. and New Zealand Paper Mills sold at 20s 6d.

Apart from the metal companies there was little doing in Australian industrial issues. Australian Glass eased from 92s 6d to 90s 3d. ex dividend. British Tobacco improved from 45s 9d to 475. arid Dunlop FerHriau from 19s 5d to 20s 6d. Burns Pliilp were traded at 50s 6d to 50s 3d. Colonial Sugar were weak at £46 12s 6d to £46 7s 6d. a later sale being made at £l6 15s. Speculative, interest, in Taranaki Oil was well maintained, but prices were “up and down.” After touching 11s 9d they were active at up to 15s, and a recession to 13s 6d was followed bv a. rise to 14s 7d. Moturoa held round 6«. Gold mining issues were dull, little business bein! done. Sales recorded on the Wellington Stock Exchange on Saturday were as follow: £ s. d.

SATURDAY’S QUOTATIONS.

The latest buying and selling ouotations recorded on Saturday on this Wellington Stock Exchange wore, as follow : —• •' ■ V-..; Buyers. Sellers.

SATURDAY’S SALES

Wellington.—lnscr. Stock,) 3£ p.c., 1953- • 57, £97 ss, 3-1939-43 +£loo 7s 6d; Broken • Hill Ply., +£3; Woolworths, Ltd., *£l 0s i 6; Mount Morgan, *9s 9d. *Late sale i Friday. +Reported after call. Auckland.—Comm. Bank Aust., pref., £9. 4s . 3d; Bank of N.Z. (2), £2 3s 3d; i Dominion Investments, 18s 3d; . South British Insurance, £2 6s 9d; Kauri Timber. £1 Is 6d; British Tobacco, £2 7s; Broken Hill Pty., £2 19s; K.D.V. Boxes, contr., 3s; Taranaki Oil, 14s ■ 9*l; Mount Morgan, 9s Bd, (2) 9s 9d. Christchurch. —Inscr. Stock. 3£- p.c., 195357. £97 5s- N.Z. Refrig., 10s paid, 8s 5d ; Westport-Stockton Coai, 3s 8d; N.Z. Breweries. £2 Is 3d: Austr. Iron and Steal, prof., £ 17s 6d; Broken Hill Pty , £2, ;19s Id: Dunlop.Perdriau, £1 0s . 6d", Taranaki Oil. 14s: 7d-; Woolworths. Ltd.’ (2), £1 0s id: Broken Hill South (2). £1 10s lid. £1 11s, (2) £1 11s Id; Mount Lyell, £1 6s 6d, £1 6s 7d. £1 6s 9d ; Mount Morgan (5). 9s S'sd : Skippers. Ltd., Id. Dunedin. —Tnscr. Stock. 3+p.c., 1938-52, £lOl ss; South British Insur., £2 6s Rd; Taranaki Oil. 14s; Woolworths Properties, 10s paid, 13s sd. SYDNEY STOCK EXCHANGE. SYDNEY!” Juno 25. ’ Sales on the Sydney Stock Exchange to-day included; —BonctV, 4 per cent.. 1938, £ldO 18s 9d’. 1944 £lO2. 1950 £lO3 8s 9d. 1953 £lO4. 1959 £lO3 13s Oil; Associated Newspapers, £1 Is l£d; British Tobacco, £2 7s 3d; Dunlop-Pecdriau, £1 Is; Electrolytic Zinc, £2. RAW' MATERIALS. RUBBER PRICES IMPROVE. , * LONDON, June 25. Friday’s closing prices for raw materials , were as follow, those for June Jl7 being ■shown iiiYparontheses: Cotton."—Liverpool quotation, good American , middling, spot, ; 4.68 d a lb (4.69 d); July delivery, 4.69 cl alb (4.5Qt1). Rubber.—Para, 6Jd a lb (6d); plantation smoked ribbed sheet, 6 11-16(1 -a' lb (5 31-32di: •

Jute.—June July shipment. Indian jute. Dundee quotation, £l6 18s 9d a ton (£l6 8s lid). Copra:’—July-August shipment"' ' sundried South Sea, to London or Rotterdam, £IC a .ton (£9 12s 6d); smoked to- Marseilles or Genoa. £lO ’a ton (£9 12s 6cl); plantation, Rabaill to London or Rotterdam,. £li a ton (£lO 7s 6d). Linseed oil. —£2s 15s a ton (£24 15s). Turpentine: 32s a cwt. (31s).

, June 17. .7u*ne 24. 0 £ s. d. Sj e. d. Copper, standard . .. 3,? 10 H 37 8 9 Lead ... 13 9 44 14 18 9 Spelter ., 12 9 44 14 1 104 Tin .. 170 12 6 1S7 15 0

table: — • June 18. £ s. d. June 25. £ s. d. Broken Hill Fty ... 2 15 0 3 0 0 Electro Zinc, ord. .. ... 1 15 3 1 17 9 Ditto, pref ...2 0 0 2 5 6 Mount Lyell ... . 1 2 5 1 6 9 Broken Hill South :.. ...139 1 11 1 North' Broken Hill ... 1 15 0 2 1 5 Mount Morgan ..084 0 9 9

£500 —Tnscr. Stock, p.c., 1953-57 «- 97 5 0 £5000 —Ditto, 3A n.c.. 3-1939-42 alOO 7 6 100 —Broken Hill Ptv ' a3 0 0 200—YVoohvorths L-td., ord. *1 0 6 100 —Mount Morgan , *0 9' 9 *Late sq.1o Friday, a Reported after call.

N.Z.'COVT. LOAN’S- £ 3j n.o. Triser. Stock. s. d. £ s. d. 3-1939-43 100 ■ 5 0 100 10 0 Ditto, 11-1938-52 — - 101 7 6 Ditto, 1-1953-57 97 10 0 3| p.e. ditto. 11-38-41 ; 100 5 0 4 p.e. ditto. -1943-46 ... — 102 7 6 Ditto, 4-1946-49 — . 102 12 6 . Ditto, 6-1952-55 4 p.e. Bonds, 4-1946-49 102 Ditto, 6-1952-55 .102 0: 0 -: 10210 or — o — 0

* • rvv *■ • DEBENTURES— Wgtn. City & Suburban Highways Bd., , 4i p.c., 1-3-43 - 103 10 0 BANKSEng.', Scot, and Aust, 4 17 0 — _ National of N.Z. - *2 14 0 2 16 6 v ' National of Australasia, £10 paid 13 4 0 13 7 0 ’ Now South Wales ... — 31 10 6 New Zealand 2 3 3 2 3 4 R Union of Autt. V 7 17 6 — - FINANCIAL--Dalgety and Co — 8 2 b i Equitable Bdg. Co. ... 0 33 0 — e Goldsbrough, "Mart. ... *1 8 3 -1 9 t 3 Nat. Mortgage A ... *2 2 6 -- Newton King, pref. ... 0 8 6 N.Z. Guarantee Corp. — 0 4 6 N.Z. Invest., Mort. and N.Z. and Hirer Plato 0 11 0 0 13 0 ' .Well. Invest., T. &. A. — 0 9 0 I Wgnt, Trust, Loan ... *5 2 6 5 12 6 GASChristchurch, contrib. — 0 14 0 Wellington, ord — 1 lb 6 ; Ditto, prof. ,.... — 14 6 INSURANCE— National of N.Z 0 17 4 — MEAT PRESERVINGSouthland 19 3 — TRANSPORT— . Buddart, Parker, pref. — 19 0 Silvertbn Tram 1 14 9 — WOOLLEN— Bond's Hosiery Mills 0.14 9- — Kaiapoi, pref — 0 T7 0 Timaru —- 0 12 9 Bruce, pref. — . 1’ 1 0 COAL— Taupiri — 0 16 0 TIMBERKauri 110 116 Rotoiti 0 2 9 0 4 3 Dim prof • — 0 18 0 BREWERIESN.Z. Breweries 2 11 — Tooth and Co. — 2 14 9 -MISCELLANEOUS— Anthonv Hordern — 0 17 1 Aust. Glass — 4 11 0 British Tobacco 2 6 3 r . — Broken Hill Pty. ...... 2 19 6 3 0 0 Burns. Philp and Co. — 2 11 6 Colonial Sugar — 46 15 0 Con. Brick and Pipe — *0 8 8 Donhard, erd 0 7 11 — Dunlop Perdriau — 1 0 10 . Electrolytic Zinc, pref. — 2 6 6 G. J. Coles 4 2 0 4 2 6 Hume Pipe — 10 0 Macduffs, ord — 0 17 0 Ditto, pref — 10 3 Moturoa Oil — 0 5 11, Sharland and C°-- ord 0 15 9 — Ditto, nref 0 15 9 * — Taranaki Oil 0 14 3 0 14 8 Wilsons N.Z.,. Cement 0 16 2 0 16 7 Woohvorths Ltd., ord. 10 5 . 1 0 6 Woohvorths N.Z., ord. 10 3 — MININGArgo f0 1 8 — 1 Ditto, contrib f0 1 4 — Big River *0 1 0 > — Gillespie's Beach 0 0 8 0 1 0 Martha — 0 ll 3 Nomona 0 1 4 — Wnihi Investments 0 8 4 — Broken Hill South ... 1 10 6 — Mount Lyell 16 4 16 8 Mount Morgan *0 9 5 0 9 11 North Broken Hill ... 2 3 6 2 5 0 Wellington Alluviale — 0 5 11 OVERSEAS LISTINGSWoolworths Holdings — 0 15 13 *C'um dividend. +Ex dividend.