STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 20958, 22 August 1931, Page 7

STOCK EXCHANGES.

YESTERDAY'S SALES. RETURN ON INVESTMENTS. Following is a list of yesterday's transactions on New Zealand Stock Exchanges. In the second column is given the return, based on tho last annual dividend, from investment at the quoted price. In the case of Government and other redeemable securities the return includes redemption. In calculating the returns on shares in companies which pay their dividends outside New Zealand exchange rates, being liable to fluctuations, have not been taken into- consideration. The first column gives the figures at which the sales were made:—

REVIEW OF THE WEEK. BUSINESS IN BANKS SHARES. NEW ZEALANDS WEAKEN. A firm market existed on the Auckland Stock Exchange during the week for Government loans of 5 per cent, and over and local body debentures bearing attractive rates of interest, and fairly active dealing took place in these lines. Business in other classes of investments was fairly quiet until tho close, when there was trading in bank and insurance shares at levels which, for the most part, moved against holders. The feature of tho movement in banks was the decline in New Zealands, which lost Is 6d during the week, business being done lato on Thursday 9d lower at 47s 6d and closing; yesterday at 46s 9d, with an intermediate transaction at 475. Commercials of Australia and Nationals of New Zealand also made slightly easier rates, tho former changing hands a penny lower at 13s 3d and the latter being done twice at £3 16s, a fall of Is. The lower price of £8 8s secured Australasias. On the other hand, gains were registered by New South Wales, which wore dono 5s firmer at £24 15s, and Unions, which advanced 6d in a deal at £6 Bs. In insurance New Zealands were actively dealt in an tho lower basis to which they declined last week, one parcel being secured at 37b 9d and five at 58s. South British were fairly steady and were taken at' 51s and 50s 9d. Levels in other sections were much the same as those ruling at the close of tho previous week. For tho most part easy conditions persisted, investors operating with caution. Improved support was accorded Auckland Gas, which registered three sales 3d dearer at 23s 3d. Mining and oil shares were the only other investments to attract steady business. Moturoa Gils recorded a progressive decline from 5s 9d to ss, a fall of Is on last week's price. King Solomons moved up from 2s to 2s 6d, six parcels changing hands between those limits. Wnihi Grand Junctions were easier and two lots wore released 2d lower at 3s 7d. Slightly higher prices were paid for Waihis, which were taken twice at 15s 8d and again at 15s 9d. CANTERBURY MARKETS. NO CHANGE IN VALUES. [BY TELEGRAM. —PRESS ASSOCIATION. ] CHRISTCHUKCH, Friday. The grain and produce market shows practically no change. There is a little more inquiry for potatoes going north by tho Wingatni, which is due to sail tomorrow from Lytfelton. The f.o.b. price is 35s per ton, and merchants are making purchases from growers at 17s 6d ou trucks Fowl wheat is quoted at 5s 2d a bushel f.0.b., but not much business is passing. Oats are not inquired for and chaff remains at recent quotations, 80s to 82s 6d a ton f.o.b. HUME PIPE COMPANY. BIG DECLINE IN PROFIT. The Hume Pipe Company (Australia), Ltd., lias advised the Auckland Stock Exchange that its net return for the year ended June 30 was £17,146, after providing for income tax, and that no dividend is recommended. Tho profit disclosed is £37,419 lower than that earned in the previous year, which amounted to £54,565. In the year ended June 1928-29 it was £54,996. A dividend of 6 per cent., absorbing £30,000, was paid last year, as against 8 per cent, for each of the four previous years. THE SEARCH FOR OIL. REPORTS FROM TARANAKI. [BY TELEGRAPH. —OWN CORRESPONDENT.] NEW PLYMOUTH, Friday. Moturoa Oilfields continues to produce, and it is stated that the 500-barrel tank is over half-full. The Blenheim company has been daily swabbing, states tho chairman of directors, and the well has continued to yield flows of oil to that treatment. Negotiations are still in train concerning the proposal to buy and sell crude oil for the purpose of refining for second grade benzine. Preparations are being made to take off surface water from the crude oil store, anticipatory to successful negotiations. "New Plymouth Oil Wells, Limitod's superintendent slates that the staff is mudding off the well to deaden,persistent gas, in order to cement the lowest depth properly. It is that then* are most promising indications of an early flow, Coal Oil (N.Z.J, Limited's operations are at a standstill. The local staff is awaiting final instructions from Australia,

AUCKLAND EXCHANGE. Return on Sale-Fnce. Investment. i s <1 ii s d Ark. Har. Bel., '37. 51 97 0 0 5 17 1 Bunk of Australasia . 8 8 0 7 14 9 Bunk of N,S.W. 24 15 0 • » Bank of N.Z. . . 2 7 0 6 2 0 Ditto (2) .. 2 (J 9 6 2 G Ditto (late sale Thurs.) 2 7 6 6 0 8 N.Z. Insurance (2) . 1 18 0 5 5 3 South British 2 11 0 5 4 7 Ditto .. 9 10 9 5 5 1 Moturoa Oil 0 r> 0 — Wailii 0 15 8 12 15 3 The following sales also took place:— Cornish Point, Gel; King Solomon, 2a Gel. CHRISTCHURCH EXCHANGE Govt. Bonds, 1937, 5& 100 2 0 5 9 6 Ins. Stk., 19I3S, 4} (3) 98 0 0 4 16 11 Wgton. City, 1951. 51 99 0 0 5 11 8 National Insurance . 0 12 10 5 10 11 N.Z, Guar. Corp. <3> 0 4 9 0 N.Z. Uefrisj. (10s pd.) 0 3 8 — Ditto 1 . . 0 3 7 — N.Z. Breweries (2) .. 1 10 0 8 G 8 Ditto .19 9 8 8 1 British Tobacco 1 3 G a Nth. Canty. Co-op. Flour 0 11 0 6 1G 5 Moturoa Oil 0 4 11 — Ditto . , 0 4 9 — The following sales also took place;— Cornish Point, 5}d; King Solomon, 2s 6}d. 2i 7(1; Okarito. 10a 3d: Golden Point (Is paid), Is 2d (17); Golden Dawn, 5s 8d (3). WELLINGTON EXCHANGE Tns. Stk., 1938, it . 98 5 0 4 16 0 Bank of N.Z. 2 0 10 6 2 4 N.Z. Insurance' 1 18 0 5 5 3 Gear Meat 1 G 0 s DUNEDJN EXCHANGE. Ins. Stk., 1937, . . 100 5 0 5 9 0 The following sales also took place:— King Solomon, 2s 7d; Golden Point, Is 3d (2).