STOCK EXCHANGE IS STAGNANT

Northern Advocate, 29 March 1938, Page 6

STOCK EXCHANGE IS STAGNANT

[Special To . ‘’Northern Advocate ”] AUCKLAND, This Day. The Stock Exchange started the week quietly, and, following the midday call yesterday, '-became stagnant, less than half a dozen sales being recorde'd at the two succeeding meetings. Bidding at the first call this morning was dull right through until Government stocks were reached. Two reported sales of 4 per cents, both showed advances and there were keen buyers for almost all issues.

Australian metal shares slipped again, Mr Lyells being quoted between 27/6 and 28/9, and Electrolytic Zincs from 40/6 to 43/. Bidding for New Zealand miscellaneous issues did not show marked changes in value, but bidding was lackadaisical and many of the regular lines were not asked for. There were no buyers for brewery shares. Business was not better at the noon call, though two sales in local securities, New Zealand Newspapers and Northern Steam, showed a slight rise. The only other two securities traded were in overseas companies, and were lower. Wariness in Australian mines was reflected in the transactions in Broken Hill Souths at a drop of 2/, There was little change otherwise beyond further evidence of weakness in metals. Sales completed at the 12.15 p.m. call to-day were: —Northern Steam, 4/4; New Zealand Newspapers, £1 17/6; Woolworths (Sydney), £l/1/8$; Broken Hills, £l/11/3.