STEADY SHARE LEVELS

New Zealand Herald, Volume 78, Issue 24141, 6 December 1941, Page 7

STEADY SHARE LEVELS

TONE MORE SUBDUED THE WEEK REVIEWED Investment conditions revealed no major change on the Auckland Stock Exchange during the past week. The iemand was basically the" same, with price changes, in the main, being more if accommodation movements rather bhan indicating any definite trend in - the market. Dominion stocks maintained their position n the forefront of the market with values rery 6teady over the whole period, but the Australian issues remained dull as a result >f the hesitancy existing, on. the Australian ixchanges. Jt was not until later in the week hat there was any change In sentiment in Sydney and on Thursday markets there ihowea some improvement. Actually, the New fork and London markets lately; have been moving in opposite directions, and, while New fork at one stage reached the lowest point lince 1938, there was increased firmnesf in London. This contrary movement was in?evilence until mid-week, when New York values ose sharply on a much larger turnover than las been reported for some time. While these factors were apparent In stocks übject to international influences they had ittfe effect on the general tone of primarily tfew Zealand issues. Gilt-edged stocks renained firm with supplies short. Several War lK>an issues were dealt in at slightly better ates. Year Last This ago Week Week Stock, 15/1/53-57, 3% 101% 102%* 102%* Ditto, 15/4/46-49, 4 104 103%* 103%* Ditto, 15/0/52-55, 4 106% 107%* 107%* Ditto, 31/5/54-58, 4 War Loan, 1/LO/53.. 80% 88% 88% Ditto, 1/8/51-54, 3 .>- 98* 98%* ♦Buyers. !Ex interest. J The week's trading brought practically BO :hange to banks, in which turnover was argest in New Zealands. Insurances expertmeed a temporary lull before buyers again iperated strongly and carried the Sooth 3ritish peak level Is higher to 05s. whjle in he south 65s 3d- was touched. After proonged inquiry a buyer obtained a, parcel if Standards Dy paying 675, or 6s 6d mora han the market price when the last business vas done in July. Apart from the tendency for Australian ralues to drift there were few movements ri the industrial sections, in which turnover vas predominately in New Zealand scrip. Hore Colonial Sugar shares have appeared n the market recently and prices eased ilightly in three transfers during the week. Australian mining shares have been more irmly helff, but there was a slight getback « the Fiji gold companies a result of he higher Fijian company tax;1940 Last •' This High \ Low Week Weti Bank of N.Z... 44/- - 38/- 40/- 40/~om. Bk. Aus. 16/10 13/6 14/7 14/6* Sat. Bk. N.Z. 46/6 35/- 40/- 40/Bank N.5.W...' 612/6 500/- 540/-* 560/CJnion Bank .. 165/- 130/- 147/-J 146/4 N T at. Ins. .. 20/- 17/6 20/- 20/ST.Z. Ins. . . 66/- 5319 72/- 72/3outh British.. 61/- 43/- 63/9* 65/Ak. Gas (10/4 9/6 7/4 7/3 0/9* Pukemiro .. 16/0 16/- 17/0* 17/6* Dom. Brew. .. 36/- 27/4 SO/- SO/- 8 ST.Z. Brew., .. 89/6 . 29/10. 87/- 86/8! k.CI. .. 44/9 82/6 ' 46/-* 45/6* Bkn, Hill Pty. 56/3 .39/3 89/9 89/9 Bycroft .. 43/6 39/- 48/0 46/-• Dol. Sugar .. 1130/- 935/- 1020/- 1015/Farm. Trad. .. 21/- 17/- 22/1 21/9* j. J. Coles .. 84/6 59/3 61/-* 62/Wilsons Cem... 20/10% 15/9 18/-* 18/-* W'ths. (N.Z.).. 19/- 12/6 15/1 14/ li* Vlartha .. 8/9 7/- 6/-* 9/1 'Buyers. JSellers. SEx dividend. ' MORE PASTURE GROWTH WAIKATO CONDITIONS r" . & SMALLER CATfLE YARDINGS Further heavy rain was experienced in the W&ikato at the week-end, but since then the days have been warm, and feed is now coming away rapidly. Ensilage making is now in full- swing on many farms and, given a locger spell of fine . weather, haymaking will be starting shortly. . Smaller yardings of cattle have been penned at most sales this week, and prices have shown little alteration. Only odd pens of station-bred cattle have been jpenned and. with the feed growing quickly; this class continues to sell readily at practically unchanged quotations. Boner cows have also been forward in less than average numbers this week, and here again recent rates prevail. The decline in values for dairy cattle" "which has been apparent during the past few weeks has not been checked, and it appears that from now on lower rates will rule for • the odd lots" coming on to the market. The demand for yearling' Jersey heifers is not as keen as some" little tiine ago, and year. Yardings in the store sheep section' Still comprise mainly shorn wether hoggtfs; which sell -at recent At - the i Hatamata centre, op Wednesday the/tops ot.^4Ulß; of woolly ewe hoggete sold lambs at foot sell at unchanged rates. Beef.—The market for fat cattle remains llrm. Medium entries, including a good proportion of prime station-bred cattle, have been penned at some country sales, and prices at these centres have been fully up to central yard rates. Ox beef was penped in full average numbers at the Frankton auction on Tuesday, prime, well-finished steers being to the majority. Competition was steady throughout, and, if anything, prices were a firmer, one extra prime heavy bullock was knocked down at £ls. Prime quality cows and heifers were also penned in good numbers, and here again values were firm. Heavy prime bullocks made '£l4 to £ls. Mutton.—Large entries of fat /sheep continue to come forward at most of the main qentres, and prices show no improvement, bo that it now appears that present values will probably rule for some time. Saleyard quotations for both fat wethers and ewes are; still in advance of export rates. The offering at the central yards on Tuesday was slightly smaller than the previous week. Competition was steady, ana practically a total clearance was effected, but prices 6howed no improvement on those obtained at the previous sale. Pigs.—Pat pigs are now coming forward in good numbers.' Export buyers-compete keenly for baconers, which sell readily 'at recent firm rates. Buttermilk buyers i are also active in the market for pigs suitable for finishing, and values for this class are in advance of schedule rates, while prime, well-fin-ished porkers also sell readily. Breeding sowa are now dull of sale, but on the whole stores and weanera maintain recent quotations. VALUES AT MORRINSVILLE (0.C.) MOERINSYILLE, Friday • ' A small entry of fat sheep sold at lat« rates at Morsrinsville to-day. Values were firm for a medium yarding of beef. A largo entry of boner cattle was keenly sought, a total clearance being effected. A iigh« entry ol dairy cattle sold readily. Another large yard» iug of over 700 pigs was penned and compeiition was keen. Prices for baconers were higher and for stores and weanera showed a FaTmera' S Auctioneering.—-Fat woolly hog. gets, 2Ss Id; medium fat hoggets, 23s 9d; medium fat ewee, 10s to lis raged ewes and lambs, 12s 6d. .all counted; two-tooth ewes, 29s 6d. Light fat (Polled Angus , and Hereford heifers, £8 5s to £8 lis; ditto cows, £7 10s to £7 17s; heavy fat Jersey faeifers, £6 to £6 15s; lighter, £5 58 to £5 15s; heavy prime Jersey cows, £6 5s to £6 15s, yearling Srs" 3°l£t £3 jo S ; buttermilk pigs and ffiWMkm calves £2 10sPROSPECTIVE MARKETS MANY OVERSEAS INQUIRIES fBY TELEGRAPH— "PRESS ASSOCIATION] 1 Wellington, Friday, K"o,S!c» WShS™ «W"by th. W.IIIW E^r«'K^ s «T|, Is fnquiries have been coming again in ever inC TKe g cre V tarTof the chamber, Mr, E M. Bardsley said they had come, now from different countries. chiefly lndia and SKJiIS'«» X°« z«i"» d J s&ss from European countnes also a marKci .ur nroducts formerly exported to _burope. "Manv Of the goods offered are o BO use to New Zealand and many of „ those trantfvd the Dominion cannot supply* — Mr. Bardslev said. "Nevertheless, there do appear £ he a number of opportunities for the development of trade that would be of value frv thisi countrv. We have had several inoiiiries for lines which New Zealand has not j£t previously exported, but which nr ~ ply manufactured from rau ' L ieafher duced hero. In this category are many, 4 leat&er requirements of Indian textile mms. ,