SHARE VALUES HIGHER.

New Zealand Herald, Volume LXIX, Issue 21233, 13 July 1932, Page 5

SHARE VALUES HIGHER.

AUSTRALIAN EXCHANGES.

IMPROVED OUTLOOK.

OVERSEAS • INFLUENCE.

[FROM OUR OWN CORRESPONDENT.]

SYDNEY, July 7.

The rises during the past week on the Australian Stock Exchanges of bonds and industrial shares have been most encouraging, and are taken as reflecting the better outlook within and without the Commonwealth. The success of England's great conversion loan has had an important bearing on the market—almost as important as the fact that all Australian Governments are now combined in a great effort to so adjust their finances that the dreaded deficits will ultimately disappear. In Sydney, Melbourne and Brisbane this week Government loans made unprecedented gains of from 10s to 555. The gains mean that the average yield (including redemption) has been reduced from nearly per cent, to about per cent., which is a record in the recent history of the market. Some loans are actually quoted up to £27 10s more than they stood at six months ago. So far the volume of business has not been extensive, but with a more pronounced restoration of confidence it is anticipated that the demand for gilt-edged securities will increase ana that prices will go higher still. New Zealand per cent. 1937 bonds have shared in the improvement, and on Monday last gained 30s. There were buyers at £IOB, but sellers were holding out for £llO. Coincident with a better demand for bonds, there has also been a spectacular rise in many industrial and investment stocks. Banks havo shared in the general appreciation of values, and the Bank of New South Wales showed a rise of 17s 6d on deals made early this week. Other bank shares showed substantial increases. In the industrial section in Sydney a group of 25 industrial shares advanced from a penny to ninepence a share, and the demand for them is still unsatisfied. Only one investment stock has shown a decrease in value this week, and for the first time for many months no industrial stocks have been marked down.

In Melbourne there has been strong buying in the industrial section, and when the exchange opened on Monday morning there were 14 rises in value as against only one fall. A pastoral concern deeply involved in the low prices obtained for wool was among those which registered an increase. Most of the leading base metal stocks also higher on a wave of buying, but golamining shares have been slightly easier. YESTERDAY'S TRANSACTIONS. BONDS STILL SOARING. (Received July 12, 8.15 p.m.) SYDNEY, July 12. There was considerable activity on the Sydney Stock Exchange to-day. Commonwealth bonds are still soaring. Banks show fractional gains and breweries are holding their ground. Sales were: Bank of New South Wales, £29 5s 6d; Commercial Bank of Sydney, £l6 2s 6dj Union Bank, £7 17s 6d; National Bank (£5 paid), £6; Colonial Sugar, £46; Mercantile Mutual Insurance, 16s; Australian Gas, A shares, 1225; Tooth's Brewery, 29s' 6s>; Toohey's Brewery, 19s 7£d; Goldsbrough-Mort. 24s 10^d; DunlopJPerdriau,*l3s 3d; Gordon and Gotch, 27*,.3d; 29s 7|d ; Mount Lyell, 19s 7d; North Broken Hill, 625; Souths, 445; 'Zinc Corporation, 25s 3d. Commercial 4 per cent. Bonds sold as follows: 1938. £97 10s; 1941, £97 6s 3d; 1944, £97 2s 6d; 1947, £97 ss; 1950, £97 14s 4£d; 1953, £9B ss; 1955, £97 ss; 1957, £97 7s 6d; 1959, £97 7s 6d : 1961, £97 lis 3d. Melbourne sales were: Commercial Bank of Australia, 15s sd; Herald and Weekly Times, 50s 3d; Electrolytic Zinc, 13s 9d; North Broken Hill, 625.

QUOTATIONS FOR WHEAT.

LONDON AND LIVERPOOL.

MARKETS IN AMERICA.

LONDON, July 11.

Wheat.—Cargoes are quiet. Parcels are irregular. Futures—London: September, 22s s£d a quarter.; December, 22s Liverpool: July, 4s 9 3-8 d a cental; October, 4s 10 7-8 d; December, 5s 0,3-Bd.

CHICAGO, July 11.

Wheat.—July, 47i cents a bushel; September, 50 cent 3; December, 53 3-8 cents. The New York quotation for cash is cents.

NEW COMPANIES.

LATEST REGISTRATIONS. The following new companies have been registered in Auckland and southern centres:— PUBLIC.. Tozer Super Lock Company, Limited, Palmerston North, lock manufacturers. Capital, £IO,OOO, in £1 shares. Subscribers: W. J. Rainger, O. W. Williams, A. M. Burges, A. J. Tozer, P. L. Sim, M. Giorgi and F. R. Tozer, 1 share each. P. S., Limited, Nelson, to acquire the business of Heibert Anstice, motor service proprietor. Capital, £7OOO, in shares of 2s 6d each. Subscribers: J. Fitzgerald, A. Smith ; W. R. Martyn, F. H. Cooke, H. V. Radley, A. L. Stokes and R. E. West, 8 shares each. Freshford Geld Dredging Company, Limited, Inveroargill. Capital,, £12,000, in shares of Is each. Subscribers: W. McKenzie,. J. A. S. Aitken, J. Penny and E. A. Cameron, 1000 shares eachg C. R. Barron, 500 shares; E. A. Boult and A. E. Johnston, 200 shares each. PRIVATE. K. D. V. Boxes, Limited, Auckland, box v manufacturers, sawmillers/' etc. Capital, £20,000, in £1 shares. Subscribers: Robeft Burns, G. E. King, C. D. Warren and M. A. Scott, 5000 shares each.

Australian Securities (New Zealand), Limited, Auckland, capitalists, financiers, etc. Capital, £IOOO, in £1 shares. Subscribers: Australian Securities, Limited, 997 shares; C. A. Jaquos, S. J. Douglass and P. McWilliam, 1 share each. R. W. Rowntree, Limited, Auckland, general importers, indent agents, manufacturers' representatives, general merchants and traders, etc. Capital, £6OO, in £1 shares. Subscribers: R. W. Rowntree, A. Humphreys, 11. T. Randal and A. F. Dering, 150 shares each. * L. F. Spitz, Limited, Auckland, chemists and druggists, etc. Capital, £SOO, in £1 shajes. Subscribers: Louis F. Spitz, 300 shares; Rose Spitz and Esther Spitz, 100 shares each. Roycroft Press, Limited, Wellington, printers and publishers. Capital, £2OOO, in £1 shares. Subscribers: E. Cannons, 1800 shares; C. S.,A. Smith, 200 shares. Wilkins and Field, Limited, Nelson, to acquire the Wilkins and Field Hardware Company. Capital, £6500, in £1 shares. Subscribers: T. A. H. Field, 3852 shares; 11. M. Field, 1000 shares; A. A. Lucas, K. G. Lucas and K. N. Lucas, 1075 shares jointly; L. W. Field, 500 shares; M. I. Field, 73 shares. Chapman and Company, Limited, Akaroa, to acquire the business of E. Taylor and Company, Limited. Capital, £3OOO, in 1650 preference shares of £l, and 1350 ordinary shares of £l. Subscribers: J. S. Chapman, 1650 preference shares; E. W. Chapman, 1250 ordinary shares; and K. 0. Chapman, 100 ordinary shares.