More Demand For N.Z. Securities

Northern Advocate, 16 December 1938, Page 5

More Demand For N.Z. Securities

STOCK EXCHANGE

[Special to “Northern Advocate”] AUCKLAND, This Day.

A large turnover was maintained on the Auckland Stock Exchange tin's morning, and there was more interest in New Zealand securities. Australians were steadier after rising substantially during the week. At the first call of the day, Government stocks were active round late rates. The 1943-46, 4 per cent, issue sold 5/-, cheaper, but 52-55’s, at £96 10/-, were slightly better, allowing for interest paid since last sale. Australian Bank shares were in-keen request, offers being raised to £3O for New South Wales, with sellers holding off at £32 while Unions were quoted higher between £8 11/- and £9 5/-. New Zealands were steady and Nationals easier between £2 8/- and £2 10/-.

The only business in Australian industrials was in Broken Hill Proprietary, both issues showing a reduction of 3d. In general, the keenness of buyers for this class of security had abated somewhat, though quotations still ruled higher on an average than the Sydney market. Sales completed at the noon call today were: Bank of New Zealands, £2; New Zealand Insurance, £2 11/1; Auckland Gas. 18/1; Broken Hill Proprietary, £2 17/9; Dunlops, £1 1/3; Farmers’ Trading, 18/9; New Zealand Drug, £3 3/6; Wilson’s Cement, 15/9; Waihi, 8/3; Gillespie’s Beach, 9d. Stock, March 39-43, 3i per cent., £97 5/-; Gisborne sheep farmers, 31/8/41, 6£ per cent., £lO2.