REVIEW OF THE WEEK

New Zealand Herald, Volume LXXII, Issue 22142, 22 June 1935, Page 9

REVIEW OF THE WEEK

AN ACTIVE FERIOD TRADING OVER WIDE AREA AUSTRALIAN INFLUENCES Trading over a wide area was a feature of operations 011 the Auckland Stock Exchange this week. The midweek period was particularly active, but conditions yesterday were quieter. The amount of business in shares quoted "unofficially" was considerably larger than in any other week this year. This section of tho Exchange has grown in importance since it was established a few years ago. Movements in the Australian market had a marked influence on tho Auckland Exchange during tho period. Broken Hills were done up to 58s 6d, a rise of 2s. This year is the jubilee year of the company, and in addition there aro strong rumours that the company will be seeking new capital with an issue of shares at par. The company's works have been particularly active ifi tho past year owing to expansion of business in the iron and steel trade. Another issue showing appreciation was Colonial Sugars, which rose in dealing from £4O 10s to -£42 12s 6d, tho lastnamed price showing the very low return of £2 18s 8d per cent. It is believed that investors do not expect tho present rato of dividend, 6£ per cent, to bo continued, and it is suggested that tho special allowanco to shareholders to bo made in the next dividend payment may be permanent, although it is intended only to compensate for extra income tax on the bonus issue of shares. A third movement of Australian origin was a wave of buying in all issues of Woolworths, prices for which showed a sharp rise. Tirm Tone Maintained A firm tone was maintained in most sections of tho market. Although leading industrials recorded gains, tho giltedged market also was well supported. Tho market for Government loans was strong throughout tho week, with a definite preference shown for tho 1955 4 per cents. Parcels of stock and bonds changed hands at £lll 10s, a loss of only £l 5s after tho half-yearly interest payment. Following is a comparison of the levels ruling a year ago for a selected number of Government loans, compared with those of tho last two weeks: — , ; June 22, Last This 1934 Week Week Bonds, 15/1/40, 4.. 105'/ 4 * 103% 103% Ditto, 15/2/46, 4 .. 106 3 /« 107 l / a * 107%* Stock, 15/3/38-43, BVa 106 1 /,* 105* 105* Ditto, 15/5/39-52, BVa 100 V 107% 107%* Ditto, 15/4/49, 4 . 101% 108% 10S%* Ditto, 15/6/65, 4.. 106%* 112% 111%* 'Buyers. tEx dividend. Bank of New Zealands are finding a good measure of support. After opening ex dividend Is lower at 49s 10d, the sale price reached 50s yesterday. Nationals of New Zealand also were stronger, selling Is 6d higher at £3 9s. Most of the Australian issues were a shade dearer, but Unions reacted from recent higher levels. Upward Trend in Insurances There was a forward trend in levels fpr insurances, but the movement was not marked, and Now Zealands again sold at less than recent rates. Auckland Gas shares remained weak, but there was a steadier tone after selling 9d lower at 26s 3d. New Zealand Breweries dropped slightly, but there are still substantial buyers in the market. Apart from tho attention given to Australian industrials, some of the New Zealand issues were prominent. The report of Consolidated Brick gave a hopeful view of dividend prospects, with the result that selling took place 6d higher at 9s 3d. Tho revival in the building industry will probably, direct attention to both brick and timber shares. Farmers' Trading were firmer and New Zealand Newspapers gained slight ground. Wilsons Cement roso by 6d to 395, but supplies remained scarce and the shares, which are only 10s paid, seem within measurable roach of 40s. Further Drop in Waihis After opening 3d lower at 37s 6d, Waihi mining shares dropped in subsequent dealing to 375, which seems to have steadied tho market. Waihi Junctions lost a further 2cl in trading down to 4s. The following comparative table shows the levels of sales made on the Auckland Stock Exchange in the corresponding week of 1934 together with the lowest price touched last year and the closing prices at the end of tho last two weeks: — June 22, Lowest Lnst This 1934 Price Week Week Bank A'asia,. 235/-* 220/- 221/-* 221/Com. Bk. Aus. 16/1} 10/3 15/3 15/5 Nat. Bk. N.Z. 76/-* 70/- 67/6* 69/r E:. S. and A. . 97/6* 98/- 101/- 101/6 Bank N.S.W. 610/- 600/- 615/- 620/Bank N.Z. . 48/- 45/6 50/10 50/4 Reserve Bank - 130/- 129/6 Union Bank 197/- 177/6 177/-* 172/6* Nat. Ins. . . 19/-* 18/5 20/6* 20/6 N.Z. Ins. . . 60/- 50/- 69/6 68/South British 79/3 73/6 96/6 97/-* Golds.-Mort . 30/3 28/- 29/-* 29/-* Pukemiro .. Auckland Gas 20/6 24/- 26/-* 26/3 N.Z. Breweries 42/-* 37/9 52/9 52/3 Aus, Glass . 49/6* 50/- 66/-* 67/-* British 'fob. 36/-* 36/6 38/6* 38/9 Col. Sugar . 1305/- 1257/6 830/-t* 852/6+ El. Zinc (pf.) 33/6 33/3 3§ /-* 35/7} Wilsons C't. 28/10 25/8 38/6 39/Waihi .. 32/6 29/8 37/9. 37/Blackwnter . 33/-* 32/- 29/-* 28/-* Mt. Lyell .. 20/3* 17/6 20/- 18/7* •Buyers. , tAfter bonus distribution. tEx dividend. Trend of Dealing The trend of dealing over the week was as follows: — Government Loans.—Bonds, 15/1/40, 4, £lO3 7s 6d; ditto, 15/6/55, 4, £lll 10s, Stock, 15/3/39-43, 3}, £lO5 ss; ditto, 15/.1/40, 4, £lO3, £lO3 10s; ditto. 15/2/46, 4, £108; ditto, 15/6/55, £lll 15s, £lll 10s. Debentures. —Auckland City. 1/1/44-63. 4}, £lO6 10s; Amalgamated Brick -(Auckland). 1/3/44, 7}, £104; Waitematu Power, 1/12/64, 41, £lO7. Banks—Australasia, £ll Is (2); Commercial of. Australia, 15s sd; English, Scottish and Australian, £5 Is Cd; National of New Zealand, £3 Os; New South Wales. £:il (2); New Zealand. 49s lOd, 43s lid (2), 50s (2); Reserve, £6 9s 6d (2). Insurance.—Australian Provincial, 21s 3d; National, 20s Gd (3); New Zealand, 68s 3d. 67s 9d, 68s. *' Loan and Agency.—Dominion Investment, 16s 6d; Farmers' Auctioneering, A pref.. 23s 3d; North Auckland 'Farmers, B pref., 6s 3d (2); United Building (Auckland), 20s 4d. Coal.—Renown, pref., 2s 6d. Gas.—Auckland. 2Gs 3d (3); ditto (15s paid), 20s Id. Woollens.—Mosgiel, £l2. Timber.—-Bartholomew. IGb ; Kauri, 21s, 20s Id; National, 13s (2), 13s 3d; Rotoili, 4s 9d. Breweries.—Dominion, 15s; Ncw3 Zealand. 52s 3d (4). Miscellaneous.—British Tohnrco, 38s 9d (2); Broken Hill Proprietary 60s 9d, 58s Od; Colonial Sugar, £42 2s 6d, £42 10s (3), £42 12s (id; Consolidated J3rick, 9s Id, 9s 3d (5); Electrolytic Zinc, pref., 35s 74d; ditto, ordinary, 26s 4jd; Farmers' Trading, 7s 3d (2), 7s 4d (2) j K.D.V. Boxes (10s paid), Us 6d; Miln« and Choyce. debentures, 16s 3d (2); New Zealand Newspapers, 38s Od (2), 38s 7d, 38s 9d (3); New Zenjand Farmers' Fertiliser, 19s 9d, 20s; Sun Newspaper:!), Bs, 8s Id, 8s 3d, 8s 2d; Union Oil, 30s; Wilsons Cement, 395; Woolworths (N.Z.), £l2. Mining.—Big River. 2s 3d; Golden Down, 2s 3d (2); King Solomon, 4s; Mataki, Is sd, Is 6d. Is 7d: Mount Morgan, 36s 9d, 36s 74d; Wnihi. 37s 6d, 37s (3); Waihi Junction, 4s Id, 4s. Unofficial List.—Associated Motorists, pref., 26s 6d; Alluvial Holdings, Is 2jd; Auckland Farmers' Freezing (£5 paid), 98s, 9Sr Od: Berlei (N.Z.), 45s Cd (2): Farmers' Co-operative Organisation (£lO paid), £5; Goldm Crown, 4s Sd; Mncky, Logan, 20s 3d; ProceCa Bread (10s paid), 19s Ud. 235; Renown Collieries, 1/3/54. 6, £lO3 10s; Woolworths (Sydney), 90s, 90s 6d, 91s 3d, 925. 92s 3d (2), 935; ditto (Weßt Australia), £G 14s, £6 15s.