REVIEW OF THE WEEK

New Zealand Herald, Volume LXXI, Issue 21792, 5 May 1934, Page 7

REVIEW OF THE WEEK

MARKET QUIETLY FIRM COAL SHARES STRENGTHEN LESS ACTIVITY IN MINING A more subdued tone ruled in the investment market on the Auckland Stock Exchange during the week, and movements in prices were rather less marked than thoso of the last few weeks. Turnover was of moderate dimensions and continued to cover a wido range. The features were a revival of interest in coal shares, following an announcement of a price agreement between the Waikato coalmining companies, and an advance in tin shares, which reacted favourably to the news of an increase in the production quota. The strength of the market for Government loans was fully maintained, with a further all-round increase in support. Higher levels failed to attract many sellers, the scarcity ol' supplies being felt particularly in 3J per cents. For 1938-52's, £lOl 10s was paid, a premium of £2 17s Gd after allowing for accrued interest, while a similar prico was made by 1940 4 per cent bonds and stock, representing a premium of £3 6s 6d. Following is a comparison of the levels ruling a year ago for a selected number of Government loans, compared with thoso of tho last two weeks: — May 6. Last This 1933 Week Week £ £ £ Bonds, 15/1/40. 4 .. lOO 1 /,' 103Vi* 104% Ditto. 15/2/46, 4 .. IOOVi* 103' 104* Stock, 15/3/38-43, 3M, 99% .10214* 103',J* Ditto, 15/5/39-52. 3Va 99* 103'/ a * 104Vi* Ditto, 15/4/49, 4 '.. IOOVJ 102 1 /, iO3Vi Ditto, 15/6/55, 4 .. 100% 104 Vi 1047 0 'Buyers. Banks and Insurance Activity in Now Zealands was again tho dominant feature of banks, most of which wore unsteady. A large number of New Zealands changed hands, but turnover was not as large as that of tho previous week. Apart from minor fluctuations, the market was consistently firmer for these shares, which closed on sale lid higher at 50s sd. Now South Wales responded slightly to a rally in Sydney, whilo Commercials weakened after an advance to ]7s. Australasias and Unions were easier. Insurance shares were quietly firm at the peak levels touched previously. Dealing in New Zealands ranged from 60s back to 59s 9d up to GOs, while South British were traded a number of times at tho steady figuro of 78s 3d. Standards aud Australian Provincials were a shade better. Other suitable investments showing anything moro than a nominal return were hard to locate. Farmers' Co-opera-tive ordinary shares, £5 paid, moved up 2s Gd to 62s 6d. Of the dealings in coal Pukemiro showed the greatest rise, advancing 2s to 245. Taupiris, after sale at 15s; wore held for 16s 3d. Auckland Gas wero secured a penny lower in sales at 25s 4d. New Zealand Breweries hardened 3d to 41s 9d, but there was a final sale at 41s 7d. The Mining Section In miscellaneous, two fair-sized parcels of Gear Meats, mostly for Wellington delivery, changed hands at tho current price of 275. Tho fully-paid issue of New Zealand Refrigerating.? was taken 3d dearer at 18s. Dunlop Rubbers were activo at a rise of 8d to 19s 6d, but quietened later. The mining market was less active and shares of tho larger-producing companies showed an easier trend. Gillospie's Beach recovered to 2s 2d as a result of tho recommencement of tho dredgo and an improved return, whilo Talisman Dubbo, which has declared another dividend, advanced from 12s to ! 13s Gd. In Kuala .Kampar Tins business j was done 4d higher at 16s Id. The following comparative table shows I the levels of sales made on the Auckj land Stock Exchange in tho correspond- ! ing week of May, 1933, together with tho lowest prico touched last year and the closing prices at the end of the last two weeks: — May 6, Lowest Last This 1933 Prico Week Week Bank A'asia. 202/G* 190/- , Com. Bk. Aus. 14/0 13/11 IG/9* 17/Nat. Bk. N.Z. 70/-* 04/G 79/- 80/-* E.. S. & A. 84/0* 80/- 107/6* 10S/3 Bank N.S.W. 585/- 540/- 050/-* 600/Bank N.Z. .. 45/4 41/- 49/G 50/5 Union Bank 149/-* 140/- 202/- 200/Nat. Ins. .. 17/- 14/- 19/4* 19/4* N.Z. Ins. .. 49/G 41/- GO/- 00/South British G5/3 57/G 78/3J 78/3 Golds.-Mort . 23/- 22/- 34/G 33/-* Pukemiro .. 20/- 19/- 21/9 * 24/Auckland Gas 23/- 20/- 25/5 25/4 N.Z. Breweries 29/G • 25/- 41/9 41/7 Aus. Glass .. 4G/6* 40/- 49/-* British Tob. 33/6* 28/6 37/3 37/-* Col. Sugar .. 1095/-: 920/- 1322/0 1320/El. Zinc (pf.) ' 29/G* 26/3 34/-* 33/9* Wilßons C't. 32/9t 2G/9+ 20/9* 27/3 Waihi .. 23/3 18/9 35/3 35/Blackwater . 21/G* 20/- 32/3 32/-* Mt. Lyell .. 31/- 18/9 23/9 23/6* *No sales: buyers' last offers, til paid: shares now 10/- paid. JEx dividend. Tho trend of sales completed during the week .ended yesterday was as follows, the last previous transactions in possible cases being given in parentheses : Government Loans. —Bonds, 15/1/40, 4 (£lO3 15s), £lO4 10s (2); InscribedStock, 15/5/38-52, 3£ (£lO3 15s), £lO4 10s; ditto, 15/1/40, 4 (£lO4 2s 6d), £lO4, £lO4 10s; ditto, 15/2/46, 4 (£104), £104; ditto, 15/4/49, 4 (£lO2 10s), £lO3 (2), £lO3 10s. Debentures. —Mount Albert Borough, 1/1/59, G (£IOO 10s), £lO2 10s. Banks.—Commercial of Australia (17s), 17s (2); E., S. and A. (£5 14s 6d), £5 8s 3d; New South Wales (£34), £33, £33; New Zealand (49s (3d), 49s 9d, 49s 9d, 50s, 50s .'3d, 50s, 50s 3d (2), 50s 4d, 50s Gd, 50s 5(1; ditto, 1) preference (34s 2d), 34s 3d, 31s 4(1; Union Bank (£lO 2s), £lO. Insurance. —Australian Provincial (10s Gd), 10s 8d; New Zealand (GOs), GOs, 59s 9d, 59s 9d, GOs; South British (78s 3d, ex (1 iv.), 78s 3d, 78s 3d, 78s 3d, 78s 3d; Standard (GOs Gd), 61s, 61s. Loan and Agency.—Farmers' Auctioneering, ord. (GOs Gd), 62s Gd; ditto, B (20s), 20s; Guarantee Corporation (4s 3d), 4s 2d, 4s 2d. Coal. —Pukemiro (225), 22s Gd, 245; Taupiri (15s 3d), 15s; West port Stockton (Is 8(1), Js 9(1. Gas.—Auckland (25s fid), 25s 4d, 25s 4d, 25s 4d; ditto, eon. (18s Gd), 18s Gd. Timber. —-Leyland-O'Brien (21s 9d), 21s 9d, 21s Gd'. Breweries. —New Zealand (lis 9d), 425, 4.1s 7d. Miscellaneous. Consolidated Prick and Pipe (7s (3d), 7s .'id; Colonial Sugar (£66 2s Gd), €66, £66; Dunlop-Perdriau (18s I Od), 18s 9d, J9s 6(1 (3); Farmers' Trading (4s 7d), 4s 7(1; ditto, B pref. (lis I'd), lis Gd. lis (3d (2); Gear Meat (275), 275, 275; New Zealand Drug (71s 3d), 71s; New Zealand Newspapers (28s), 28s Gd; New Zealand Refrigerating, £1 paid (17s 9d), ISs; ditto, 10s paid (7s Gd), 7s 6(1; Farmers' Fertiliser (17s lOd), 17s lOd; Taranaki Oil (2s), 2s 3d; Wilsons Cement (26s 3d), 275, 27s 3d; Woolworth's (Sydney), 10 per cent pref ( —), 35s 9d. Mining.—Big River (BJd), 8d;-Nevis Diesel (5.Jd), 5Jd, s id (2); Goldfields Dredging (9-id), 9.Jd; Golden Dawn (2s 2d), 2s; Gillespie's Beach (Is lOd), Is lid, 2s, 2s 2d; Mataki (Is Sd). Is 7(1; King Solomon (4s 7d), 4s Gd; .Mahakipawa mai (Is Gd), Is 9d, Is 9(1; Skippers, 9d paid (10d), 92(1, 9Jd; ditto, Js paid ( —lO-irl; Okarito (8s 9(1), 8s Od; Waihi (35s 3d), ,355; Waihi Junction (4s lOd), 4s 9d; Talisman Dubbo (12s), 12s, 12s 7d, 12s Bd, 13s 6d; Rawang Tin (9s' Id), 9s; Kuala Kampar (15s 3d), 15s 9(1, 10s Id, 10s Id, 16s Id. Unoflieial List.—lnvestment Executive Trust, 2nd B (£96), £96. £96; Now Zealand Perpetual Forests (49s 6d), 49s 3d; Loyal, pref. (21s), 21s 9d; Golconda Holdings, Is paid (Is 2d), Is 2jd, Is 2d (2), Is 3cl (2); Worksop Extended ( —), Is 7d; New Zealand Woolpack ( —), 17s 6d.