STOCK EXCHANGE

New Zealand Herald, Volume LXX, Issue 21468, 17 April 1933, Page 5

STOCK EXCHANGE

ESVIEW OF PAST WEEK FIRM TONE PREVAILS RISE IN LEADING ISSUES A firm tone prevailed in the investment market on tho Auckland Stock Exchange during tho short week ended cm Thursday, and pressure from buyers accounted for a general advance in the leading issues. There was a fairly heavy . turnover of business, especially at the single call on tho final day, when trading developed in tho new issues oi' Government loans. Throughout the week strong support was given to State loans, with a gradual rise in buying levels. Only isolated supplies were available, for the most part at par. At the only call on Thursday offers at £'99 10s were niade for tho 4 per cents, representing a gain over the period of 10s for bonds end £1 for stock. For the 3§ per cents offers were £1 10s higher at £9B 10s. Sellers quoted more freely, and six parcels of inscribed stock changed hands. The 1938-43 and the 1935-52 3£ per cents were done at £99; the 19-10 and 19-16 4 per cents at £99 15s; and the 19-19 and 1955 4 per cents at £99 10s. Rally in Banks Increased business was done in local body securities, some of which are now niore attractive in comparison with other gilt-edged investments. Auckland City, 1957, per cent, gained 10s on pale at £99, and the 1956 per cent changed hands £1 higher at £99 10s. There was a sharp risa in Auckland Harbour Board, 1937, oi per cent, a parcel being taken £2 15s higher at £99. Losses were recorded in sales of "Waitemata County, 1962, 6 per cent, and Mount Albert Borough, 1903, 5J per cent. Afte/ a dull period, banks rallied slightly, and an improvement was shown in most issues. Levels in New Zealands were a shade easier on the final day, but the shares rose on earlier tiading, there being a full gain of 9d to 45s 9d. A marked rise in Commercials saw the price advance over the period from 14s Id to 14s Bd. Other issues were fairly steady on sale. Supplies of insurance were very limited, and buyers found it impossible to fill requirements at previous levels. Offers for -Xcw Zealands rose by 3d to 49s and, prior to the payment of the interim dividend, the demand for South British was firmer. The latter sold cum aiv. at 455, a rise of 6d, and Nationals changed hands lsi higher at j6s 6d. , Waihis Improve Loan and agency and coals . were quiet, with little variation in levels, but there was a distinct firming in the inquiry for Auckland Gas, which was released 9d higher at 225. The contributing issue had sale 6d higher at 16s. Shipping and breweries issues showed only slight activity. A feature of the miscellaneous group was that all transactions were confined to four issues, indicative of the general narrowing-down in the inquiry based on present-day iequirenients. Colonial Sugars are now selling almost at Sydney parity, the final transaction at £55 showing a gain over the period of ss. With a single exception, Kemp-thorne-Frossers were steady on sale at 63?. A strong demand for Farmers' Fertiliser continues, and the sale price showed a total gain of 5d at 16s sd. "Wilsons Cement found acceptance on four days "at the unchanged price of 82s. The mining section was marked by a sudden and unexpected gain in Waihis on the final day. Although the shares' advanced steadily on sale during the week until there was a full improvement of 9d to '22s 9d, the market was stirred when a buyer accepted a seller's quotation of 23s 3d without demur. The expectation shortly from London of the year's accounts adds interest to the transaction. Other mining issues were secured at a reduction, but Mount Lyelis were released Is higher at 19s 9d. Price Levels Compared The following comparative table phows the levels of sales made on the Auckland Stock Exchange finally in April, 1932, together with the lowest price touched last year and the closing prices at tho end of the last two .weeks: — . April, Lowest Last This 1932 Price Week Week Bank A'nsia . - "9/- 201/-* 200/-* Com. Bk. Aus. . 34'- 13/- 14/1 14 8 Nat Bk. N.Z. . 67/6 59/- 65/-* 65/Ban'" N S.W. . 505/- 460/- 580/- 580/Bank X.Z. : . . 43/'( 40/!) 45/- 45/9 Union Bank . . 135/- 129/6 147/6 147/-' "N'pt Ins. .. H/3 1"- lb/- 16/6 fvZ. Ins". -• 35/- 35/- 48/3 49/-* South British 46/9 46/9 61/6 Golds.-Mort .. 22/- 20/5 22/9 23/1J Auckland Grae 20/6 20,6 21 ii 22N.Z Breweries 22'11 -1/3 28/A up' Glaas .. 31/6 28'- 46/3 46/6* British Tob. . . 26/6 25/6 33/9* 33/9 Col - 717/6 1095/- 1100/El.'Zino (pf.) . 19/10 19 6 218/-* 28/3* Wil son's C't . 25/9 oJi-y Waihi ' 16/3 13/9 22/- 23/3 lit. Lyell . . 18'- 36/9 18/9 19/9 galea; buyers' closing offers. The trend of sales completed during the five market days ended on Thursday. was as follows, the last sale being given in parentheses: Government Loans. —Inscribed Stock, 1938-43, 3i, £99; ditto, 1938-52 3*, £99- ditto, 1940, 4, £99 los; ditto, 1946, 4, £99 15s; ditto, 1949, 4, £99 10s;' ditto, 1955, 4, £99 10s. Debentures. —Auckland City, 1907, m (£OB 10s), £99; ditto, 1956, ;>1 (£9B 10s) £99 10s; Waitemata County Council, 1962, 6 (£100), £9B 10s; Auckland Harbour Board, 1937, 5} (£96 55),. £99: Mount Albert Borough, 1963, of ,(£9B 10s), £96. Banks. —-Commercial of Australia 1(14s Id), lis Gd, 14s 8d; ditto, pref. (£8 7s 6di. £8 8s Gd; English, Scottish cud Australian f£4 7s Gd), £4 6s 3d; New South Wales (£29), £29j New Zealand (455), 4-ls lOd, 455, 45s lid, 45s 9d. Insurance. —-National (15s 6d), 16s 6d: South British (61s (id), 655. Loan and Agencv.—GoldsbroughAiort (22s 9d), 23s ljd. Coal. —West.port (lis), 12s 6d. Gas.- —Auckland ('-Is .'id), 225; ditto, contributing (15s Gd), 16s; Gisborne .(13s) 4s. Shipping. —Northern Steamship (6s), Breweries. —Staple's (22s 9d), 22s 9d. Miscellaneous. —Colonial Sugar (£54 15s), £55, £54 15s, £55; KempthorneProsser (635), 62s 6d, 635, 635; Farmers'' Fertiliser (16s), 16s 4cl, 16s 4d, .16? od; Wilsons Cement (325), 325, 325, 325. Mining.—Black wn ter (22s 4d), 21s 9d; Cornish Point (3d), 2d; Golden Dawn (2s 7J,d), Is 7d; Consolidated Gold '(9s 9cl), 9s 9d; King Solomon (2s 04d) Is lid, Is lid; Nokomai (5s 7d)', 5s 6d; Waihi (225), 22s 2d, 2 9 s 3d 90 s 5d ("2). 22s 9d. 23s 3d; Mount'Lyell (18s 9d), 19s 9d. Unlisted: —Williams' Ilotary (3s 6d/, 3s 7j d. ONIONS FOR CANADA A further shipment of onions wfll be made from Lyttelton this week by the Canadian Leader. A previous experimental, shipment was made early in March. New Zealand onions are free of customs duty in Canada, but there is an excise impost of 3 per cent.