REVIEW OF THE WEEK

New Zealand Herald, Volume LXX, Issue 21520, 17 June 1933, Page 7

REVIEW OF THE WEEK

PRICES ON HIGHER PLANE ACTIVITY IN BANKS INDUSTRIALS STRENGTHEN * ~ Business on the Auckland Stock Exchange this week again was exceptionally heavy. Added impetus was gained toward the close of the period, when values, especially in banks and industrials, advanced to higher levels. Dealing throughout the last few weeks has indicated that investors view the future with greater confidence, whild the favourable opening of the World Economic Conference and its probable influence on commodity prices and world trade has stimulated further activity. Largely increased attention has been given to the banks group and turnover in this class of investment has been the heaviest for some time. While inquiry for Government loans was steadily maintained throughout the week, buyers shewed little inclination to advance beyond current offers and negligible business resulted, one parcel of 1940 4 per cent stock changing hands 7s 6d higher at £IOO 15s. Banks and Insurance Values in banks showed an easier tendency at tho opening of the week, but there was a quick recovery. Commercials of Australia again attracted considerable attention and wero lifted in active trading from 15s 9d to 16s Id. A riso of 2s was recorded in the preference issue, which had sale up to £8 19s. Nationals of Now Zealand gained 4s on sale at £3 16s 6d and New South Wales had sale ouce at £32 3s, against the last business a month ago at £29 17s 6d. Turnover in New Zealands was heavy. Ordinaries opened at 47s and closed at 47s 6d, seven parcels heing transferred within those limits. Tho D preference issue, after receding to 30s lid last Saturday, recovered to 31s. A similar movement affected Unions, which were secured Is 6d lower at £8 5s on Saturday, but were taken in tho middle of the week at £8 Ss. All leading insurance issues wero active on a firming market. New Zealands were most prominent and daily business was transacted at levels from 49s 5d to 49s 9d at the close, with the bulk of tho sales at 49s 6d. South British were lifted in a single sale to 68s, a riso of Is 6d, whilo Nationals recovered to 17s from 16s sd. Standards were steady at 52s 3d. The Industrial Section A feature of tho week's trading was the participation of industrials in the general strengthening. Particularly keen interest developed in New Zealand issues, all of which were firmer. In loan and agency Goldsbrough-Morts were most active, values closing 10-Jd firmer at 275. Taupiri coals strengthened on sale at 15s 6d. Auckland Gas advanced from 23s to 23s 5d and the contributing issue sold 3d better at 17s 3d. Now Zealand Breweries commanded increased attention and a rise of Is accompanied the sale of seven parcels up to 335. In miscellaneous Colonial Sugars fluctuated. Trading took place up to £SB 10s and back to £SB. New Zealand Newspapers met a steady market at 25s and hardened finally to 25s 6d, while Paper Mills were strong at 275. Much firmer levels ruled for both issues of Refrigeratings, the paid changing hands at 14s lid and the contributing issue up to 6s 2d. Wilsons Cements hardened to 31s 10£ d, a gain of 10Jd. A satisfactory tone existed in mining, firm to stronger levelß ruling for all leading issues. The following comparative table shows the .levels of sales made on tho Auckland Stock Exchange finally in June, 1932, together with the lowest price touched last year and the closing prices at the end of the last two weeks:— June Lowest Last This 1932 Price "Week "Week Bank A'asia 184/- 179/- 217/6 217/6* Com. Bk. Aus. 13/11 13/- 15/9 16/1 Nat. Bk. N.Z. 61/6 59/- 74/-* 76/6 Bank N.S.W. 510/- 480/- 620/-* 643/Bank N.Z. 43/3 40/9 47/- 47/6 Union Bank 136/6 129/6 166/6 168/National Ins. 11/4 11/- 16/5 17/N.Z. Ins. . . 38/- 35/- 49/10 49/9 S. British 51/- 46/9 66/6 68/-Golds.-Mort 20/6 20/5 26/11 27/Auck. Gas 20/7 20/6 23/- 23/5 N.Z. Breweries 24/6 21/3 32/- 33/Aus. Glass 32/6 2S/- 48/6* 47/6* British Tob. 28/3 25/6 35/- 35/3 Col. Sugar 815/- 717/6 1170/- 1160/EI. Zinc (pf.) * 19/9 19/6 31/3* 31/3 Wilsons C't. 2G/3 25/9 31/- 31/101 Waihi .. 15/- 13/9 22/2 22/3 Mt. Lyell .. 17/2 IG/9 22/6 22/45 •No sales; buyers' closing offers. / Details of Salo3 The trend of sales completed during the week ended yesterday was as follows, tho last previous transaction being given in parentheses:— Government Loans. —Inscribed Stock, 15/1/40, 4 (£IOO 7s 6d), £IOO 15s. Debentures. —Auckland City, 1949, SJ, £lOl 10s; Mount Albert Borough, 1949, 6, £99, £99; Mount Eden Borough, 1961-63, s}, £9B. Banks.—National of Australasia, paid _ (£l2 3s 6d), £l2 7s 6d; Commercial of Australia (15s 9d), 15s Bd, 15s 9d, 15s lid (2), 16s (2), 16s Id; ditto, preference (£8 17s), £8 19s; E., S. and A. (£5 0s 6d), £5, £5; National of New Zealand (£3 12s 6d), £3 16s 6d; New South Wales (£29 17s fid), £32 3s; New Zealand (475), 475, 47s 4d, 47s 6d, 47s 9d, 47s fid, 47s fid (2); ditto, D. Preference (31s 2d), 30s lid, 31s (3), 31s (2); Union (£8 6s 6d), £8 ss, £8 6s, £S Bs. Insurance. —A.P.A. (10s 3d), 10s 2d, 'los 2d (2); National (16s sd), 16s 6d, 17s; New Zealand (49s 10d), 49s fid (2), 49s 6d, 49s sd, 49s 6d, 49s 6d, 49s 9d (2); South British (fifis 6d), 68s; Standard (51s), 52s 3d, 52s 3d, 52s 3d. Loan and Agency.—GoldsbroughMort (26s lid), 25s 3d, 25s IOJd, 26s 9d, 2Gs 7sd, 26s 9d, 275; Guarantee Corporation (4s lOd), 6s 3d. Coal. —Renown, preference (9d), fid; ditto, new preferenco (9d), fid; Taupiri (13s 3d), 15s Cd. Gas. —Auckland (235), 23s (2), 23s 3d, 23s sd; ditto, con. (17s), 17s-3d. Shipping.—Northern Steam, con. (2s Id), Is lOd. Breweries. —New Zealand (325), 32s (2), 32s 3d, 32s 9d, 32s 9d, 335, 335. Miscellaneous. British Tobacco (355), 358 3d; Bj'croft (35s 6d, ex div.), 36s 6d; Colonial Sugar (£SB 10s), £SB ss, £SB 10s, £SB, £SB ss, £SB 7s 6d, £SB; Electrolytic Zinc, pref. (31s 3d), 31s 3d; Farmers' Trading, B preference (7s lOd), 7s fid; Consolidated Brick (4s 3d), 4s 3d, 4s 3d; Now Zealand Newspapers (255), 25s (2), 255, 25s 6d (2); New Zealand Refrigerating, paid (12s), 14s lid; ditto, con. (5s sd), 5s fid, 5s 7d, 5s lOd, 6s Id. 6s Id, 6s 2d; New Zealand Paper Mills (275), 275, 275, 275, 275, 275; Farmers' Fertiliser 15s 3d; Wilsons Cement (31.5), 31s 10Jd; Woolworth's (Aust.), now preference (25s fid), 25s 6d, 25s 6d, 25s 6d. • Mining,—Alexander, 13s fid paid (10s), 9s 9d, 10s 6d, l'Os 6d; Blackwater (22s Gd), 235, 23s 3d, 23s lOd; Golconda (BJd), 9Jd, lOd; Gillespio's Beach (Is 7d), la Bd. Is 8d (2), Is 7£d; King Solomon (is 8d), Is 8d; Golden Sands (3s sd), 3s 6d; Okarito (lis 3d), lis; Waihi (22s 2d), 22s 3d, 22s 4d, 22s 3d, 22s 3d; Mount Lyell (22s 6d), 22s 7d, 22s 7d, 22s 4*d. Unofficial List.—Claude Neou Lights (24s 3d), 255; Weres, 5s paid (3s 7}d), 4s sd; 8011-Hooper (Is), Is 2d; Bell-Kilgour, 6d paid ( —), Is 6d (odd lot).