STOCK EXCHANGES

New Zealand Herald, Volume LXXVII, Issue 23767, 21 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 Rise or Yield £ s d Fall £ s d Bds.. 35/3/53- ' 57, :i% ' . 100 32 6 +2s Gd 3 0 0 Do., 15/0/5255, 1 ... 107 0 0 ... 3 6 9 Stk„ 31/5/5158, •( ..308 0 0 -fos. 3 G 30 Bank N.Z. . 22 4 -2d 4 14 G Dom. 1. & B. (2) *.. 0 17 G ... 5 14 3 B. Macdotiald (pref.; .. 0 4 3 +3s3d Broken Hill 2 G 3 +3d 3 4 10 Farmers' Trad. I 0 3 G IS 3 Far. Fcrt. <pf.) 1 3 O +3d 4 35 8 Wilsons Ccm't •(3) 0 39 0 +3d 3 1G 0 Wwllis (Syd.) () 38 3 I>itto .. O 3 8 2 -3d 4 3G 5 Martha . . 0 7 G Also.—Broken Hill South, 2Gs. Wellington.—'Stock, 15/G/52-55, 4, £307 ss; ditto, 35/7/3! Ml, 3, £99 37s Gd; Auckland Harbour Board. 30/G/59. 4 1 /,, £108; §Bank X.Z., 42s Gd; §Com. Bank Aust., 14s lOd; Taranaki Oil Development, 3s 2d; Mount Lycll, 2Ss Gd. Christchurch.—Bonds, 15/4/46-19,* 4, £10G; Com. Bank Aust., 15s; Bank X.Z., 42s 3d (2). 42s 2d; Union Bank, £7 3s Gd; X.Z. |{efrier. (paid), 20s 9d; Macduffs. ord.. 30s Gd; Wooiworths (X.Z.), lGs Gil; Woohvorths (Syd.), 38s 2d. Dunetiin.— L'nion Bank, £7; X.Z. Breweries. 31s Gd; X.Z. Jv'efri,?. {paid), 20s fld; Macduffs, ord., 30s !ld; X.Z. 1) rug, 745; ditto, rights, 275; Taranaki Oil Fields, Gs Gd; Wooiworths (Syd.), JSs 3d. §Salcs after hours on the previous day,. AUSTRALIAN DEALINGS REACTION TO ELECTIONS (Received September 20, 9 p.m. SYDXEY, Sept. 20 The Commonwealth elections, which will be held to-morrow, caused a slackening in trading on the Stock Exchange to-day. Price levels of front-rank investments, however, remained steady. Sales included;— Commercial Banking Sydney, £l9 2s; Australian Gas (A), £5 9s; Tooth's Brewery, -19s 9d; A.C.1.,, 3.5s 4Vid; ditto, con. (X.Z. delivery), 10s 7d;' Amalgamated Wireless, con., lis; Australian Paper Manufacturers (pref.), 2os 4d: Australasian Paper, 29s 7'Xd; Broken Hill Pty., 41s; Dunlop-Perdrian, 18s; Electrolytic Zinc,. ord., 50s Gd; Hackshalls, 30? Gd; John McGrath. 295; Mark Foy, 3Gs Gd; Sargents, 21s. Melbourne sades included: —Metropolitan Gas, £33 10s: A.C.T., 35s 3d; Broken Hill Pt.y., 445; Myers Emporium, 30s; United Provisions, Gs 2d; Loloma, 23s 3d.

RESTRICTED LONDON TURNOVER LEADING STOCKS STEADY LONDON, Sept. 10 Stock Exchange business is very restricted, but the general tendency of leading stocks is considered satisfactory. FIRM SHARE LEVELS INVESTORS' CONFIDENCE COMPULSORY WAR LOAN ATTITUDE OF THE MARKET 1 The investment market maintained a very even tone throughout the trials of the past week. There is little doubt that the calm demeanour with which London is facing its ordeal ha:; greatly impressed investors and, while s.ome contraction in tho number of uales occurred, this was duo more to the scarcity of supplies than to fears of the future. With only one or two exceptions, prices were firm, with an upward trend. Tho demand for all Government loans and local body loans' was strongly maintained, and prices registered a further appreciation in several notable instances. The 195-1-58 4 per cent loan, which was issued' by the Government at £'96 a little more than a year ago, for instance, changed hands during the week at £IOB, the return being brought down to £3 Gs lOd per cent. Nothing more is yet known regarding the Government's intentions concerning its war loan. Surprise is expressed in the market that the Minister of Finance is using the threat of compulsion so freely. It is stated that the Government has not yet asked the public to subscribe to a war loan, and that when the call is made investors will offer savings freely to the cause without coercion. Year Last This ago Week Week Bonds, 15/0/13-40, 4 . 07* 102% 10IV* Stock, 15/1/53-57, 3'/i WAX 100" 100% Ditto, 15/4/40-49, 4 . 07% 105% 105%* DiPto, 15/6/52-50, 4 . 95% 107 107 Ditto, 31/5/54-SS, 4 . <J7%t 107" 10S +Sellers. Levels in banks were . generally steady, apart from a slight easing in New Zealands at tho close of the week. Insurances also remained steady. Good industrials and trading issues were in demand, and there was an improvement in Broken Hills, British Tobaccos and Wilsons Cement. Among tho trading issues, Farmers' Trading showed exceptional strength, and Wooiworths (Svd.)*, now on an ex dividend basis, were very firm. Good preference shares were strong on -a continued demand. . <

Recent levels compare as Hollows: — 15)3!)' Last This

High Low Week Week Bank N.Z. .. -11/0 37/- .12/0 42/-1 Coin. Bk. Aus. 'lO/10 1-1/2 14/10 1-1/10 Nat. — Bk. N.Z. 4S/0 4-21- 30/-* 30/-* Bank X.5.W... 030/- 070/- 530/-* 530/-* Union Bank.. 173/0 '143/0 132/0* 145/4 Nat. Ins. .. IS/- 15/."» IS/-1* N.Z. Ins. .. 00/- 50/ti OWO 00/0* South British.. -18/- -11/- 50/- 50/Aucklami Gas

X.Z. Brew. .. 'll/- 31 /- 35/2' 35/Dom. Brew. .. nr./- 28/0 31/-' 31/0 A.C.I. .. -11/0 30/9 30/0 Bkn. Hill Ply. By croft . . 30/3 35/0 42/- 40/0* Colonial Sugar 1000/- 010/- 1005/-1000/-* Farmers' Trad. 'JO/3 30/0 20/- 20/3 ft. ,T. Coles . . 80/- 70/3 65/6 05/0* Wilsons Cement . 10/- 15/4 10/5 10/9 Martha '. . 12/6 ♦Buyers. JSellers.

BANK OF ENGLAND USUAL DIVIDEND RATE (Received September 20, 5.30 p.m.) LONDON, Sept. 30 The directors of the Bank of England held a general court in the bank vaults. The governor, Mr. Montagu Norman, announced the usual half-year's dividend of 6 per cent. Ho stated that precautions had been taken to ensure that the bank's business would bo carried on in all emergencies. The hank's return for the week ended September 18 shows that the note circulation has again fallen, the total being £006,000,000, against £608,600.000. Deposits have risen sharply by £20,900,000 to £191,900,000, but advances are £IOO.OOO lower at £3,700,000. Coin and bullion are £IOO,OOO moro at £900,000. Tho proportion has risen from 13.12. to 15.09. The discount rate remains at 2 per cent. CONSOLS AND DOMINION STOCKS The following gives quotations for consols and colonial inscribed stocks, variations since last week being shown in parentheses:—Consols, 2} per cent, £7.'s 10s ( + los); Funding Loan, 4, 1960-90. £ll.'] (+ns); War Loan. 3J, 196.1, £IOO (-20sV; Conversion Loan, 3£, 1961, £IOO (same); Victory Bonds, 4, £llO (same); New Zealand, 4J_.> 1948-SS, £lOl (+ss); New Zealand, 3, 1945, £94 2a 6d .(+2s 6d)'.,