REVIEW OF THE WEEK

New Zealand Herald, Volume LXXI, Issue 21906, 15 September 1934, Page 9

REVIEW OF THE WEEK

MOVEMENT IN BANK SHARES COMMERCIALS RISE SHARPLY GENERALLY FIRM CONDITIONS Buoyant conditions existed on the Auckland Stock Exchange this week. Turnover was again of substantial proportions, while all sections maintained lirmncss, with prices mostly higher. In a few instances, owing to particular influences, sharp gains were registered on heavy trading. Government loans were still in strong demand and fair supplies were secured, principally in 1940'5. Other issues also were firmer, 1955 4 per cents moving up 12s Gd to the new high level of £lll 7s (3d. Inquiry for 3£ per cents was firmer without response from holders. following is a comparison of the levels ruling a year ago for a selected number ol Government loans, compared with tnose of the last two weeks: —

Record Insurance Levels All banks showed movement, but exceptional activity took place in Commercials of Australia, which appreciated sharply upon Melbourne buying. Dealing opened at 16s and advanced rapidly to 17s 9d, with a slackening at the close to 17s Bd. New Zealands were considerably better, showing a rise of 7d to 48s Id. Rises also took place in the larger Australian banks, which'attracted much more attention. The future of the market is largely dependent upon the results of to-day's Federal elections. Insurances, generally, moved to higher levels, with records for Zoalands and. South British. New Zealands touched 65s 3d and South British 86s 6d on limited transactions. Very little was done in pastoral shares, while the difficulties in the coal trade were reflected in three balancesheets published during the week. Buyers were not interested in Pukemiros, but there were offers for Taupiris and other issues at low prices. Activity in Timber Shares The turnover in timbers was one of the features of the classified sections. Kauris were active slightly firmer at 18s 3d and Nationals were dealt in at 13s 6d, a rise of Is. Taupos were a shade cheaper at 6s IOJd. A large volume of miscellaneous business was transacted. r lhere was activity in Consolidated Bricks, which, upon touching lis, brought in a large number of sellers, causing the market,*to react. After business down to 10s sd, inquiry closed at 9s lOd. Practically other shares on the sale list registered gains in transactions, a number of the prominent Australian industrials figuring largely in the rising market. Further activity developed for Wool worths (Sydney) ordinaries, quoted on the unofficial list, a renewed buying wave taking these from 70s 3d to 73s over the week. The Mining Section With one or two exceptions mining ■shares were rather quiet. A large number of Broken Hill Proprietaries changed hands to New Zealand buyers at fluctuating prices which showed a gain of 9d to 50s 6d over the period. Matakis were active at firming prices, gaining Id to 2s Bd, while Gillespie s Beach were traded freely at easier rates, losing fractionally to Is 10id. Interest in Big Rivers quickened yesterday following the report of the discovers of a new reef and sales at Is lid and Is 2d represented a rise of 2d at the higher level. Others were on much the same basis as previously. The following comparative table shows the levels of sales made on the Auckland Stock Exchange in the corresponding week of 1933, together* with the lowest price touched last year and the closing prices at the end of the last two weeks: —

♦No Bales: buyers' last offers. £1 paid: snares now 10/- paid. Trend ol Dealing

The course of dealing during the week was as follows: Government Loans. —Bonds, 15/6/56, 4, £llO 15s; Inscribed Stock, 15/1/40, 4, £IOB 6s; ditto, 15/2/4&, 4, £lO7 10s, £IOB (2): ditto. 15/4/49, 4, £llO. £llO ss; ditto. 16/6/55, 4, £llO 17s 6d, £lll. £lll 7a 6dDebentures. —Waitemata County, l/y/50, 53. £105; Auckland City. 1/11/53, SJ, £105: Auckland Harbour Board, 10/7/40. si, £105; ditto, 30/1/47, si. £lO6 10s; Mount Eden Borough, 1./4/G3, 45. £105; ditto, 1/4/56. 4J. £lO5 ss; Gisborne Shecpfarmers, 31/8/41, (>4j Banks. —Commercial of Australia. 16s to 17s 9d <ll) v to 17s fid; ditto, pref., £9 18s; E. S. and A.. £5 8s; National of Australasia (£5 paid), £6 8s (2); National of New Zealand, £3 14s (2), £3 14s Gd; New South Wales. £3l 17s 6d to £32 (7) ; New Zealand, 47s _lod to 48b Id (3); Reserve Bank, £6 93 3d (5). Insurance.—Australian Provincial. 10s 4d (<2) National, 20s 3d (3); New Zealand. 058, Gss 3d; South British. 80s 3d. 80s Od; Standard, 675. Loan and Agency.—N.Z, Guarantee Corporation, 4s Bd. Coal.—Renown, new pref.. Is Gd. Gas.—Auckland, 26s 6d (2). Shipping.—Northern, 6s GdTimber.—Kauri, 18s 3d (4); National, 13s Gd (2): Taupo-Totara. 7s (2); 6s 10} d. Breweries.—New Zealand, 47s 6d. 40s IOJd, 47a Gd. Woollens.— Kaiapoi (17s paid), 13s 3d. 12s lOd: Wellington, £5 ICs. Miscellaneous. —Beath and Company, 31b 10d- British Tobacco. 37s 6d, 38s lid, 38s 9d ,f Bycroft 53s 6d; Colonial Sugar, £66 7s fid; Consolidated Brick, lis (2). 10s 9d. 10s 4d 10s sd; Electro-Zinc, pref., 35s 7<d; Dunlop-Perdriau. 20s 2d: Farmers' Trading. iJs 3d. 6s 4b, ditto, pref., 14s: Gear Meat. 975; Now Zen land Newspapers* 9d. New Zealand Refrigerating (£1 paidi, 19 s 2d. 19s 6jd: ditto (10s paid). 8s lid. 9s (2). 9s Id; Farmers' Fertiliser, 20s (4); Sanford, 2s 3d; Wilsons Cement, 30s, 30s 3d (6); Woo!worths (Sydney). 2nd pref.. 275. 27s 3d. Mining.—Big River. 1s lid. 1« 2d; Golcondn Holdings, Is 6}d; Golconda (lOd paid), fid; Gillespie's Beach, Is lid. Is 10$ d (5): Mnerewhenun, sd; Mataki, 2b 6sd (2). 2s 7d °s 7Jd- Nokomai, 4s: Mahakipawa. 10id; Tali-man Dubbo. 12s Rd (2). 12s 4d: Waihi, 3«s 9d. 33s (2). 3"?s 9d: Waihi Junction. 4s 4d (2)'; Broken Hill Pty., 49s 6d (2). 50s ('J). 49* lOd, 50s. 50s S6d. TT'Bofficial List.—Woolworths (Sydney), „,..l ~r<„ p r T 70- 9rl (9,* 71 f 71s 3d 7?f. 73s;'ditto (Victoria). pref.. 275; Auckland Formers' Freezing (£5 r>nid), £5: ditto (£1 paid), 20s; Hnrvry Turbine, 22s Gd; Claude Neon Lights. 535; Silknit. 30s. 31s; Saddle Mines, Is, Hid WHEAT, FLOUR AND PULSE LONDON. Sept. 13 Wheat. —Cargoes are easier. Parcels are lower. Futures: —London: September, 22s 8d a quarter; December, 21s 4.Jd; February, 25s 6d; April, 25s lid. Liverpool: October, 5s Bid a cental; December, 5s lid; March, 6s ljd; May, 6s 2|d. Spot trade slow. Prices occasionally irregular. Australian ex ship, 30s to' 31s. Flour: Steady. Australian ex store, 21s to 225. Oats: Firm. Peas and beans: Steady. Haw sugar, beetroot basis, October delivery, 4s s£d a cwt.

Sept. 15, Last This 1933 Week Week Bonds, 15/1/40, 4 . . 100%* 108 108* Ditto, 15/2/40, 4 . . 100/ 4 * 107% 108* Stock, 15/3/38-43, 3'/ a 101* IGS%* 109 / a * Ditto, 15/5/39-52, 3'/ a 101* 10S%* 10.)%* Ditto, 15/4/49, 4 .. 10W 110 llOVi Ditto, 15/6/55, 4 . . 100% 110% 111% •Buyers.

Spnt. 15. Lowest Last This 1933 Price Week Week Bank Com. Bk. Au3. Nat. Bk. N.Z. E., S. & A. Bank N.S.W. Bank N.Z. . Reserve Bank Union Bank Nat. Ins. .. N.Z. Ins. . • 250/-* 16/9 82/13 111/6 190/13/11 64/6 80/230/-* 16/72/6 103/'* 230/-* 17/8 74/6 650/48/9 198/18/3 14/635/-* 47/6 129/191/6 20/4 640/48/1 129/3 187/6* 20/3 65/65/3 South British Golds.-Mort . 73/6 29/4 57/6 85/29/9* 86/6 30/5* 20/-* 213/6 47/6 53/-* Pukemiro .. Auckland Gas 21/6 23/7 20/20/-* 26/5 N.Z. Breweries 38/3 47/Aus. Glass . 47/-* 40/52/6* British Tob, 36/9 28/6 36/9* 38/9 Col. Sugar . 1329/1320/. 3 5/74 K1. Zinc (pf.) 33/-* 26/3 35/9 Wilsons C't. 35/6+ 26/9t 30/30/3 Waihi . • 26/18/9 33/32/9 Blackwater . Mt. Lyell .. 82/6* 21/10 20/18/9 32/-* 20/3 32/-* 20/-*