REVIEW OF THE WEEK

New Zealand Herald, Volume LXXI, Issue 21804, 19 May 1934, Page 7

REVIEW OF THE WEEK

QUIETER TONE DEVELOPS RECORD INSURANCE LEVELS MOVEMENTS IN MINING SHARES Investment business was rather quieter on the Auckland Stock Exchange during the week. Numerically, transactions were close to the averaue, hut the value represented in the turnover was placed at less that of last week. Apart from the firmness of Government loans, leading local body debentures and standard investment shares, the interest which centred in certain mining issues was the principal feature of the week's business. High levels were maintained for al] Government loans, dealing in which was marked by the forward movement in Ihiral Bonds, for which, with approximately los Gd accrued interest, due, £lO2 10s was paid. Business in other Government issues was not extensive, but a fair number of Auckland City and Harbour Hoard debentures was turned over. Following is a comparison of the. levels ruling a year ago for a selected number of Government loans, compared with those of the last two weeks:— May 20 Last. This 1933 Week Week £ £ £ Bonds, 15/1/40, 4 . . IOOVi* 105% 10.W Ditto, 15/2/46, 4 .. IOOVi* Stock, 15/3/38-13, 3Vj 0!) 1 /;* 103* ' 104* Ditto, 15/5/39-52. 3'/□ 99 1 /,* 10PV 103*'/1 Ditto. 15/2/49, 4 . . 100% 105%) 10.VV Ditto, 15/6/55, 4 . . 100" 107 107 'Buyers. +Ex interest. Banks and Insurance Interest quickened a shade in banks and practically all Australian banks and those with London headquarters were .slightly firmer, th's exceptions being Australasias, which were ne& lected, and New South Wales, which fell on salo from £33 5s to £32 15s. Commercials of Australia eased in the early part of the week, but strengthened toward the close. New Zealands. after reaching 52s 4d at the middle of the week, gave way to 51s 6d in closing business, as against 52s Id at the end of last week. Now peak levels were established in insurance by New Zealands and South British, the former changing hands 6d higher at 62s 3d and the latter a similar amount firmer at 80s. All issues were firm. Very little business was completed in loan and agency shares. GoldsbroughMorts were substantially weaker than in the previous week. Coals were sought and a fair amount of dealing took place in Taupiris, which firmed 2d to 16s 2d in spite of the unfavourable result of tho year. Renowns were dealt in a number of times, the ordinary shares making 3s. Auckland Gas were very strong, the fully-paid shares changing hands at 25s 9d. Devonport Ferries advanced to 245, but lost ground subsequently in business at 235. Interest in Fertilisers Of tho miscellaneous issues fertiliser shares attracted considerable attention and Dominions, following the announcement of a dividend, recovered to 18s. New Zealands, which opened at ]Ss 2d, advanced to 18s 6d. There was steady business in Wilsons Cements, which rose from 27s 6d to 28s 3d. Tiie principal mining shares were quiet, throughout the week, but thero was a considerable amount of activity in Mahakipawas and Matakis. Talisman Dubbos maintained their upward tendency and had salo 2s firmer at los 6d. Waihis were dealt in 3d cheaper at. 34s 9d, while Waihi Junctions improved slightly upon the publication of satisfactory figures in tho year's accounts. The following comparative table shows the levels of sales made on the Auckland Stock Exchange in the corresponding week of May, 1933, together with the lowest price touched last year and the closing prices at the end of tho last two weeks: —

Details of Sales f The trend of sales completed during tho week ended yesterday was as follows, the last previous transactions, in possible cases, being aiveil in parentheses: — Government Loans. —-Rural Bonds, 15/9/47, 6 .(£9B), £lO2 10*. Stock. 15/5/38-52, 3i (£lO-4 10s), £104; ditto. 15/2/46, 4 (£lO5 15s). £lO5 10s; ditto, 15/6/55, 4 (£107), £lO7. Debentures. —Auckland City. 1/9/57, 5); (£107), £108; ditto, 1/7/40, 5.1 (—). £105; Auckland Harbour Board, 10/1/40, 5A (—), £108; ditto, 10/7/41, 6 (£lO5 10s), £lO7 .10s, £lO7 15s: ditto, 10/7/61, 51 ■(—). £IOB 10s: Hikurangi Coal, 31/3/48. 7 (£SO), £6O. Banks» —English, Scottish and Australian (£5 8s 3d), £5 Ss, £5 8s; National Bank Australasia, £5 paid (£6 10s), £6 lis; National of New Zealand (£3 19s), £4 3s 6d (2); New South Wales (£3*s ss). £33 Is 6d, £32 15s; New Zealand (52s Id), 52s 3d. 52s 4d (3). 525, Sis 6d, 51s (id; ditto, 1) I'ref. (34s Ocl), 34s 6d; Union Bank (£\o), £lO Is. Insurance. Australian Provincial (10s '8(1), 10s 6d; New Zealand (61s 9d), 62s 3d; South British (79s 6d). 80s (3). Loan and Agency (62s 6d), 625: Dominion Investment and Banking (16s). 365; Guarantee Corporation Ms 2d). 4s 2d, 4s 3d. Coal. —Renown, preference (Is). Is 3d; new preference (Is), Is; ordinary (Is 6d); 3s; Taupiri (16s), 16s, 16s 2d; Kaitangafca ( —), 21s 3d. Gas. —Auckland (25s 8d), 25s 9d. Wool. —Kaiapoi, con. ( —), 2s lOd. Sli ip| ii ng.—Devon port Ferry (225), 235, 245, 225; Northern Steam. (6s). 6s, 6s. Timber. —Kauri (17s 6d), 17s. Breweries. —New Zealand (42s 3d). (425). Miscellaneous!. —Bycroft (47s 6d). 475: Dominion Fertiliser (ISs 3d). 1/s 10id. 38s; Electrolytic Zinc, preference (.'Vis 3d),. 33s 9d; Farmers' Trading (4s 7d), 4s 4d; Milne and Choyce, deb. (17s 6d), 18s 6d; New Zealand Newspapers, (29s fid), 29s 6d, 29s 6d, 29s fid; Farmers' Fertiliser (18s), 18s 2d, 18s 6d, 18s 6d (2); Sanford ( —), Is 9d: Union Oil (27s 3d), 27s 6d, 27s 6d; Wilsons Cement (27s 'id), 27s Bd, 27s 9d. 28s. 28s 3d. / .Alining.—Golden Point (2d), 4d. 4Jd, 4}d. 4id; Golconda (sd), sd; Gillesnie's Beach (2s 2d), Is lid; Goldlields Dredging (7Jd), 8(1; King Solomon (4s 6d), 4s 2d; Mahakipawa (Is lid). Is 2d, Is 24d, Is 3d. lid. lid, ls/OJd, Is:, ditto, preference (Is 9d). Is 9d, Is 8d: Idataki (Is lOd), 2s (2). 2s 2d, 2s 3d. 2s sd, 2s 3d, 2s 2d. 2s 2d (2), 2s 2d. 2s Id; Okarito (8s 6d), 8s 6d; Waihi (355), 34r. 9d; Waihi Junction (4s 9d). 4« lOd; Waitahu (4s 9d), ss; Skippers (lHd), 11 Ad, Hid, lid; Talisman Dubbo (13s.Gd). 15s Gd. 15s 6d; Pawn ng- Tin (9s), 9s Id. Unofficial List.'—Golconda Holdings (Is 3d), Is 3d, Is 3d, Is 3d, Is 4d: Investment Executive Trust, 2nd B (£96), £96; Auckland Farmers' Freer.ing, £5 paid (odd lot), 90s.

May 20, Lowest Last This J 933 Price Week Week Bank A'asia. 200/-* 190/210/-* — Coin. Bk. Aus. H/4* 13/11 16/10 16/9* Nat. Bk. N.Z. 71/-* 64/ 6 60/-* 83/6 E.S. and A. . SO/107/-* 10S/Bank N.S.W. 597/6 540/065 /- 655/Bank N.Z. . . 45/6 41/52/1 51/6 Union Bank 153/-* 140/199/-* 200/Nat. Ins. .. 36/3* 14/19/6* 19/8* N.Z. Ina. . . 41/61/9 62'3 South British G5/57/6 79/6 80/-Golda.-Mort . 23/6* 22/33/-* 31/9* Pukerniro , . 20/6 19/24/6 21/6* Auckland Gab 23/3 20/25/8 25/9 N.Z. Breweries 2-5/-12/3 42/Aub. Glass . . 40/48/6* 49/6* British Tob. . 33/6' '28/6 37/-* 36/9* Col. Supar . 920!1292/6 1280/-* El. Zinc (pf.) 31/3 26/3 33/6* 33/9 Wilsons C't. . 31/6+ 26/9127/6 28/3 Waihi . . 22/18/9 34/3* 34/9 Blackwafer . — 20/32/9 32/-' Mt. Lyell .. 21/9 18/9 23/-* 22/3* *No sales; buyers' last offers. iJSl paid; shares now 10s paid.