STOCK EXCHANGES

New Zealand Herald, Volume LXXVII, Issue 23761, 14 September 1940, Page 7

STOCK EXCHANGES

YESTERDAY'S SALES RETURN ON INVESTMENTS In the following list of yesterday's sales, yields allow for exchange and British income tax where necessary, and, in the case of loans, redemption and brokerage:— AUCKLAND EXCHANGE Sale Price Kise or Yield € a d Fall £ s d Amal. Bk. (Ak.), 1/3/44, 6 101 0 0 t 512 7 Com. Bk. Aus. 0 14 10 Bank N.Z. . 22 6 Ditto .. 22 0 -fid 415 5 N.Z. Ins. (2) 3 1 6 South British 210 0 Ak. Gas (con.) 0 3 2+2 d 7 2 1 Col. Sugar. 50 o 0 +ss 3 7 8 §Con. Brick 0 7 7 +ld .047 G- J. Coles 3 5 6 -i-'-is 5 14 6 1.C.1, (pref.) 14 0 -(id 4 3 4 Wilsons Cem't 0 19 G +ld 3 10 11 W'wths Ppties 15 0 +3d 4 16 0 Martha . . 0 7 6 Also.—Mount Morgan (ord.), Ss (2). Wellington.—Bank N.Z., 42s 3d (2); MeKenzies, 435; N.Z. Drug (rights), 25s Bd, 25s lid, 26s 3d. Christchurch.—South British, 50s; N.Z. Breweries, 355; Broken Hill Ply., 45s Od, 45s Gd; Burns Philp, 525; 51.C.1. (pref.), 24s 4d. §Sales completed after hours on the previous day. AUSTRALIAN DEALINGS BUSINESS IN SYDNEY SYDNEY, Sept. 13 Sales at the morning call on the Stock Exchange included:—Bank of Australasia, £7 ss; A.C.1., con. (N.Z. delivery), 16s 6d; Anthony Hordern, 13s; Australian Paper Manufacturers, pref., 29s 6d; Cash Orders, 15s.

FIRM SHARE VALUES J ENCOURAGING- TREND .j NO SIGN OF WEAKNESS MARKET'S STRONG UNDERTONE Although there were several factors in the war situation which might have tended to weaken the confidence of investors, share dealing on the Auckland Stock Exchange over the past week has been marked by a firmness which must be regarded as encouraging. Turnover was satisfactory. The week opened with a continuation of the upward trend in values. The intensification of the air raids on London caused a fairly sharp break on Wall Street, while indices from London revealed a slight setback. This was naturally reflected in the New Zealand markets, but the news merely steadied values for leading issues. There was a complete absence of selling pressure, and it was at this stage that the real strength of the market was exhibited. While there was a cessation _in the rising trend, there was definitely no sign of weakness, and investors appeared to be content to await developments. There was some stiffening in tne tone toward the end of the week, and the market closed with values showing a further advance, Sound Securities Sought Slightly freer offerings of Government loans resulted in more business, but generally there was still a marked difficulty in procuring supplies. The present desire of investors to build up a sound portfolio is evidenced by the demand for gilt-edged securities, preference issues and other front-rank scrip. Sept. 18 Last This 1939 "Week Week Bonds, 15/2/43-40, 4 . 98 l /st 102* 102y 4 Stock, 15/1/53-57, 3% 91t 100V1 100* Ditto, 15/4/46-49, 4 . 98V5 104 3 /.* 105% Ditto, 15/6/52-55, 4 . 95*4* lOoVi* 307 Ditto, 31/5/54-SS, 4 . •Buyers. JSellers. Insurances Strong TJje banking section has been rather, quiet, with holders showing a very firm idea of values. New Zealands recovered during the week. The insurance group again has been prominent for its strength, and dealings in New Zealands and South British have been active. The other classified sections presented a strong front, with little alteration in values. Australian issues again were the first to reflect overseas events. Values fluctuated over the week, but the sum total of the movements showed a further improvement.' Here again the confidence in the outcome of the war was illustrated by the reluctance of sellers to part with holdings. New Zealand industrials were little affected, and there was a strong demand throughout. Prominent _ issues sold fairly freely and the rise in yalues was evidenced by Farmers' Trading, Bvcroft, Woolworths (N.Z.) and Wilsons Cement. Movements among mining scrip were negligible. Recent levels compare as follows: — 1939 Last This High Low "Week Week Com. Bk. Aus. 16/10 14/2 14/9 14/10 Nat Bk N.Z. 4S/6 42/- 39/- 39/-* Bank N.5.W... 630/- 570/- 530/-* 530/Bank N Z 41/9 37/- 42/3 42/6 Union ißank!. 173/0 143/0 137/6* 132/6* Nat Ins . . 18/* 10/o 18/5 NZ Ins. .. GO/- 50/6 61/6 61/6 South British 48/- 41/- 49/9 50/Auckland Gas N.Z. Brew. . . 41/- .31/- £4/9 r)om Brew. . 35/- 2S/9 3—/- 31/ACL .. 41/0 30/9 35/9* 36 6 PCkn Hill Ptv. - 40/9 Bvcroft 39/3 35/6 40/6* 42/Colonial Sugar 1000/- 940/- 990/- 1005/Farmers' Trad. 20/3 16/6 19/5 20/G J. Coles.. 86/* 70/3 65/,-* 65/6 "Wilsons Cement 19/- 15/4 19/4 19/5 Martha .. 12/0 . *Buyers. foreign exchange - Closing telegraphic rates for purchases and sales of foreign exchange Auckland on overseas centres yesterday were supplied by the Bank of New South Wales as follows:

September 13 , Buying Selling T.T. T.T. New York- dol. to £.. 3.2512 3.2050 Montreal: dol. to £ .. 8.6039 3.5200 Greece: drachmae to £ Java: tl. to £ . . •• 6.187 8.004 Manila: pesos to £ .. G.ooO 2 Hongkong: pence to dol. IS/4 10 India: pence to rupee . 22 o-32 22 49-64 Ceylon: pence to rupee. 22 5-32 22 49-64 Shanghai: pence to d01. Singapore: penco to dol. 34 41-64 35 41-0* Sth. Af.: £N.Z, £S.A. 100 123 125 London: £N.Z. £stg. 100 124/7/6 125 Australia: £A.£N.Z. 100 100/10/- 100 Fiji: £F. £N.Z. 100 .. 90 BS/12/6 QUOTATIONS IN LONDON LONDON, Sept. 12 Foreign exchange rates are:—New York (dollar), 1.03; Montreal (dollar), 4.45; Switzerland (fr.), 17.70; India (rupee), Is 6d; Hongkong (dollar), 14 63-64 d; Kobe (yen), 14% d; Shanghai (dollar), 3 l Ad; Argentine (peso), 17.015; Stockholm (kr.), 16.90. SHAREMARKET INDICES London Stock indices compiled by the Financial Times, London, are as follows (October 15, 1926, equals 100): — Govt. Home Indus- Gold securities rails trials mines September 10 109.8 35.1 79.4 165.2 September 11 110.0 38.0 79.4 164.4 September 12 109 9 35.0 79.3 164.5 New York Dow Jones' averages (1926 equals 100) and turnover on the New York Stock Exchange are as follows: — 20 Rail- 30 Shares roads Industrials sold September 10 25.12 129.61 360,000 Sept-ember 11 28.00 120.74 540,000 September 12 27.62 127.87 400,000 Highest and lowest in 1939.—Rails, 35.90—24.15; industrials, 151.22—121.4.