REVIEW OF THE WEEK

New Zealand Herald, Volume LXX, Issue 21640, 4 November 1933, Page 7

REVIEW OF THE WEEK

MARKET FAIRLY FIRM

SOME ISSUES STRENGTHEN

MINING SHARES STEADIER

Although quiet conditions ruled, a fair amount of business was transacted on tho Auckland Stock Exchange this week. Throughout a firm tone was maintained and fluctuations in levels with few exceptions wcro in favour of holders.

New Zealand loans were very strong and although more supplies were secured than in the previous week those available were insufficient for the demand and offers for a number of issues were steadily advanced throughout the week. The shorter-dated loans wcro the more keenly sought and 1!M0 bonds were lifted 15s to £lO2 5s and similar stock 5s to £lO2. An advance of-5s was recorded in 1955 stock, which touched £lOl 15s. Local body debentures had a strong market, while interest was displayed in a number of commercial issues. Bank of New Zealands Up Apart from a steady turnover in New Zealands, the bank section experienced a lean period so far as trading was concerned. Levels showed a weaker trend earlier in tho week, but a steadier tone developed later and some issues recovered. New Zealands again moved strongly, in spito of tho progress of the Reserve Bank of New Zealand Bill through Parliament. Prices closed last week at -16s 4{d and from thero levels roso in steady stages to 48s, at which they closed on sale yesterday. No other bank shares were active, but slightly better levels ruled for both issues of Commercials of Australia, ordinary changing hands at 17s and preference at £8 I6s. Nationals of New Zealand were Gd higher at £4 3s Gd, and Unions gained Is on sale at £lO Gs. English, Scottish and Australians steadied on an easier basis at £5 12s 6d.

Following a quieter period increased strength developed in insurance and New Zealands and South British wcro active throughout the period. After improving Gd at the outset New Zealands sold steadily at 555, but South British registered a daily advance on the ex dividend price of 71s 9d, finally reaching 72s 6d on sale. Interest in Australian Issues A fairly steady tone prevailed in other investment sections, turnover being principally confined to leading issues. Australian industrials maintained their attractiveness to investors, but supplies of a number of lines were difficult to locate. Goldsbrough-Morts advanced Is Id in one movement to 30s Id, after which the market reacted slightly and subsequent parcels were obtained at 30s and 29s lid. Auckland Gas firmed to 23s Gd, a rise of 2d in three sales. . One of the best rises affected New Zealand Breweries, which improved 2s on sale at 38s. Australian Glass and Colonial Sugars also figured among the major movements. Glass shares wore taken at 525, as against the last Auckland business some time ago at 465. Colonial Sugars, with a dividend announcement due shortly, moved up ]os to £6l 10s.

Ail improved demand sot in for fertiliser shares and rises were recorded both in New Zcalands and Dominions, the latter rising fairly sharply to 14s 4-Jd. .After their recent reaction New •Zealand Hefrigeratings again moved strongly upward and final sales touched face value for the 10s paid issue, Bycrofts and Wilsons Cements, on both of which interim dividends have been maintained, were dealt in at better levels. Gold shares were dull for a greater part of the time. At the close, however, there was a steadier tono anil, reflecting the influence of the increased British price of gold, some of the stronger issues advanced a shade. The following comparative table shows the levels of sales made on the Auckland Stock Exchange in the corresponding week of November, 1982, together with the lowest price touched last year and the closing prices at theend of the last two weeks:— Nov., Lowest Last Thin 1932 Price Week "Week Bank A'sia . 187/f>* 179/- 230/-* 252/0* Com. Bk. Ans. 14/7 13/- 10/10 17/Xat. Bk. X.Z. 78/-* 59,- B'W- S:)/f, Bank N.S.W. 505/-* - f,7.'./Bank X.Z. . . -10/- 40/9 40/45 48/Union Bank . 150,'- 129/6 205/- 200/Xat. Ins. .. l-l/ll 11/- JB/5 18/9* X.Z. Ins. . . 43/9 35/- 51/0 55/Soutli British 57/- 40/9 71/9+ 72/0 Golds.-Mort . 23/-* CO/5 29/4* 29/11 Auckland Gas 21 /0 20/0 23/1 23/G X.Z. Breweries 27/- 21/3 30/- 38/Aus. Glass .. 40/3* 28/- 51/-* 5 21-Britisli-Tob. . 30/0 25/G 37/0* 37/-* Col. Sugar . . 985/- 717/0 1220/- 12.30/El. Zinc (pf.) Wilson C't. . 32/0t 25/9+ 20/3* 27/Waihi . . 18/- 13/9 20/1 25/4 Blackwater . 17/9 41Mt. Lyell . . 20/4 10/9 22/9* 23/1 *Xo sales; buyers' last offers. tjCl paid. Details of Sales The trend of sales completed during the week ended yesterday was as follows, the last previous transaction being given in parentheses:— Government Loans.—Bonds, 15/1/40, 4 (£lOl 10s), £lO2 ss; Inscribed Stock, 15/5/38-52, 3} (£lOl 12s Gd), £lOl 12s (id; ditto, 15/3/39-13, 34 (£101), £101; ditto, 15/1/40, 4 (£lOl 15s), £lO2 (2); ditto, 15/0/55, 4 (£lOl 10s), £lOl 15s. Debentures. Auckland Harbour Board, 10/1/62, 5} (—), £103; Waitemata County, 1/10/61, 5.} (£9B), £100; Wright, Stephenson, 6 per cent, second lien ( —), £75; ditto, 5 per cent, perpetual stock ( —), £B4; Auckland Gas, 1/5/35, 6* (£lOl 10s), £lO3. Banks.—Commercial of Australia (16s lOd), 17s; ditto, preference (£8 15s), £8 16s; K.S. and A. (£5 19s 6d). £5 12s 6d; National of New Zealand (£1 3s), £4 3s 6d; Now South Wales (£33 15s), £33 15s; New Zealand (46s 4.J(1), 46s 9d, 47s Sd, 47s 3d (2), 47s 4(1, 48s; Union (£lO ss), £lO 6s. < Insurance. —Australian Provincial Assurance (12s), lis 7d; Now Zealand (54s 6d), 555, 555; South British (71s 9d ex div.), 71s 9(1, 725, 72s 3d, <2s Gd. Loan and Agency.—GoldsbrougliMort (295), 30s Id, 30s, 29s lid. (las. —Auckland (23s 4d), 23s sd, 23s 6d, 23s 6d. Shipping.--Union Steam Ship, preference (21s Gd), 24s 6d. Woollen. —Wellington Woollen (£5 0s 6d), £5 7s 6d. Breweries. —Xew Zealand (365), 365, 88s - Miscellaneous. Australian Glass (465), 525; Bycrofb (40s), 40s 3d, 40s Gd, 40s 3d; Colonial Sugar (£6l), £6l 7s Gd, £6l 10s; Dominion Fertiliser (12s 9(1), lis 3d, lis lid; Electrolytic Zinc, ordinary (26s Od), 26s (id; farmers' Trading (3s 4(1), 3s 4d; New Zealand Refrigerating (9s fid), 9s 7d, 9s Sd, 9s Old," 9s lid (3), 10s (2); l«armors' Fertiliser (16s), 16s 3d, l(*s 4Jd; Wilsons Cement (24s 6d), 275. Mining.—Bell-Kilgour (Is 7d), Is sd; Broken Hill (Pty.), (40s Gd), 40s Od (2); Golcondn, Sd paid (Od), od, 8d; Kildare (2s 3.Jd), 2s 3}d; King Solomon (3s 3d)), 3s 2d, 3s 3d; Mataki (Is 10d), Is 10{d; Okarito (10k v 6d), 10s 2Jd; Waihi (26s Id), 26s Id, '26s 2d (2), 25s 3d (ex div.), 25s 4d; Waihi Grand Junction (3s lid), 3s lid. ,4s (2); ltawang (5s 7d). Gs lOd; .Mount Lvcll (23s 3d), 235, 23s Id. Unofficial List.— Perpetual Forests (4Gs 6d). 475; Claude Neon Lights (355), 4Us 6d. 40s 6d; Investment Knocutivo Trust, B (£9B), £9B, £9B (2j, £9B, £9B; Peters Ice Cream ( —), bs fid, 17s fid; Sun Newspapers (3s 10' d), 3s lid; Tattersfiolds (—). 20s; Woros, 5s paid (4s fid), 4s fid; Goldfiolds Dredge, Is paid ( —), Is Id.