STOCKS AND SHARES.

Manawatu Standard, Volume LIX, Issue 46, 23 January 1939, Page 5

STOCKS AND SHARES.

REVIEW OF TRADING. GOVERNMENT LOANS RISE. A sharp rise in Government loans was the outstanding feature of the stock and share market last week. Interest in this section developed early in the week and thereafter there was an extraordinarily keen demand, practically all issues being sought by buyers. There was a marked scarcity of supplies, and anything available found immediate buyers. The difficulty in placing investments outside the Dominion has focused attention on Government loans and other gilt-edged securities. Business was done in the 4 per coni, stock, 1943-46, at up to £99, as against £9B 7s 6d in the previous week. Similarly, the 4 per cent., 1946-49, and 1952-55, sold to £9B 15s and £99 respectively, as against £9B to £9B 2s 6d for the former and £96 7s 6d to £97 for the latter in the previous week. The 3J, per cent, stock, 15-3-39-43, sold earlier in the week at £97, and the 3j per cent., 15-5-39152, went at £97 10s. Even at the latest advances in prices. Government loans are well below the level of a year ago, as it shown in the following comparative tabic of buying quotations

Year ago. Jan. 13. Jan. 20.

*Scllcrs.

In contrast to tho position obtaining before Christmas there is now' a great scarcity of sellers of local body debentures, none of w'hich was quoted on the Wellington Stock Exchange last week. A few sales of Auckland issues w’cro reported from that centre. Bank shares were fairly active last, week, but prices showed an easier tendency. New Zealand wore well traded at from 40s to 39s 6rl. National Bank of New Zealand were done at from 48s to 48s 6d. Insurance shares were firm, Now Zealand advancing to biisimvs at 53s as against 51s 3d in the previous week. Standard firmed to 51s 6ti and National ami South British were steady at 15s 6d and 42s respectively. Gas shares wore a shade better, cum dividend.

There was a marked improvement in brewevv shares, particularly New Zealand, which advanced to 41s. as against 38s before Christmas. Dominion Breweries moved up to 325. Interest in other New Zealand industrial issues was confined mainly to concerns considered likclv to benefit from the restriction of imports. Wellington Woollens ami Bond’s Hosiery were quoted at Ji migrates. but .-ellevs wore silent, Radio (1956) and Reid Rubber AI ill s were also sought, the former selling at 16s 6d. Australian issues were quiet and slightly easier in sympathy with the Sydney and Melbourne markets, but. New Zealand prices still commanded a premium on Australia. as the following list ol rale- recorded last week shows: Australia Zealand £ s. d. a >. d.

The volume of business last week was not largo, but it. showed some improvement on tho preceding week, ihc norma dullness of January is beingaccentuated by the uncertainty caused by the exchange and trade control regulations and nervousness > respect of the general financial position.

SATURDAY’S SALES.

Sales recorded on Dominion stock exchanges on Saturday arc shown m the following list: — , , , Wellington. —Stock Exchange c osed. Auckland—Bank of New Zealand, £1 19s 6d ■ NZ. Insurance, £2 13s; Dominion Breweries. £1 12s ; Eioctro.-Zmc ord., £2 7? 3cl; Grey River, 18s; Auckland Ua_, —lnfer. Stock. 4 p.c., 15-4-46-49 £99; N.Z. Breweries, £2 Is; Urey River (3), 18s.

£ .£ £ 3, 1939-41 .... *98 94? 94 3£, 9-39-43 .... 100? 96? 97? 3£, 3-41-43 ... 101 — 97? 34, 9-41-43 .... 101 — 9/? 34, 5-39-52 .... 101 i 96? 97 34, 11-41-52 .... 1014 — 974 34, 5-4-52 1014 — 974 4, 2-43-46 ..... 1034 984 98? 4, 4-46-49 102? 984 981 4, 6-52-55 .... *1031 964 934

9 4 0 9 16 0 Com. Bank of Aust. 0 15 4 0 15 11 D 0 0 0 6 Bank of N.S.W 30 2 6 31 0 0 N'at Bank Australasia, 18 12 £5 raid 6 10 0 6 8 0 6 I 8 6 1 Tooth and Co \.Z. Insurance 2 2 14 10 6 0 2 2 16 13 0 Australian Glass 5 8 0 3 British Tobacco 2 8 3 Broken Hill 1’pty 2 15 6 2 Colonial Sugar 45 15 Dunlop Verdriau Imp. Chemicals prof. ... KIcctro. Zinc, ord Ditto, prof G. J. Coles i 1 2 2 4 0 1 6 10 0 6 11 3 0 0 1 2 2 4 4 7 11 2 0 0 9 6 Woohvorths, Ltd Mount Lyell ••• Mount Morgan Placer Development .... I 1 1 6 0 10 3 13 4 3 0 1 0 3 7 10 17 5 5 0