COMMERCIAL

New Zealand Herald, Volume 81, Issue 24970, 12 August 1944, Page 5

COMMERCIAL

AUCKLAND EXCHANGE LOWER PRICES RULE Values were easier on the Auckland Stock Exchange yesterday and in a I'airly substantial turnover transfers in most cases were made possible by concessions on the part of vendors. Government stocks were steady and a parcel oi Auckland Harbour Hoard debentures changed hands at a premium of £lO 10s. Insurances continued the recent easier trend and lower rates also ruled in the banking section.

YESTERDAY'S SALES .RETURN ON INVESTMENTS In the following list of yesterday's sale? vields allow for exchange and British income "tax where necessary, and, in the case, of loans, redemption and brokerage:— AUCKLAND EXCHANGE Sale Prico Rife or Yield £ s (1 ' Fall £ s d 3rd Liberty Ln.. 15/0/47-lit, 2 1 / J . ... 08 2 (J -2s (id 217 3 Ak. Harßd.. 10/G/.W, 4Y 4 110 10 0 Bank N.Z. . 2 5 0 Ditto 2 5 8 -Id 3 15 Bank N.S.W. 37 0 O -10s 3 4 10 N.Z. Insce (2) 4 10 9 -3d 215 1 Ditto 1 10 0 -(id 2 15 3 Sth. British (2) 4 0 3 -3d 2 910 Farmers' Auct. (B pref.) . 1 5 4'A +%(l 318 10 Auckland Gas 0 S 0 -- 315 0 Dom. Brew. . 2 5 (i -Gd 3 19 2 North. Steam <• 10 5 -Id 5 5 < Col. Sugar . 59 0 0 -20s 217 7 Farmers' Fert. I 4 5 G. J. Coles . 3 (i -Is 3 O 5 N.Z. X'papers 2 3 o -'id 3 2 o Peters Ice . . 13 0 Reid Rubber 1 0 O -3d 4 0 8 Also. —Wool Bonds. 20s 3d; Goldsbrough Mort (odd lot), :tls 3d; Newton King (pref.), 24s 3d; Claude Neon (N.Z.), 28s (id; W. It Cooke, 7s 3d Wellington.—slst Liberty Loan, 15/9/5255. 3, £99 10s; §3rd ditto, 15/12/53-50, 3, £9B 15s; SStoek, 31/5/54-58, 4. £107; BBank N.Z., 15s 9d (2); Gas (pref.), 2(is (2). Christchurch. —National Bank N.Z., 55 s (3); National Insurance, 255; N.Z. Insurance, 90s fid; South British, 80s 3d; Goldsbrough Mort, 31s 3d (2); Auckland Gas, 8s; Timaru Gas. 13s (2); Christchurch Gas, 2(is; Mason Strut hers. 19s Gd; N.Z. Newspapers. 435: Bis River. l'.',d. Dunedin. -Ist Liberty Loan. 15/9/52-55, 3, £9O 10s, Stock, 31/5/51-58, t, £lO7. ?Sales afler hours on Thursday.

INVESTMENT TREND CHANGE IN CONDITIONS After a lengthy period of extreme buoyancy, with values steadily rising to peak levels for a wide range of securities, a change occurred on the sharemarket in the last few days. The upward trend was definitely checked, and of 2."> sales recorded yesterday nine were at unchanged rates, one showed an advance of Yi<l and 15 registered declines. With the exception of Government and local body issues practically every section was represented in the weakening market. Brokers yesterday appeared to be at a loss to account for so sudden a change, as the factors which have kept the market consistently firm in recent months, namely, a heavy surplus of funds and a comparative scarcity of supplies, are unaltered. .It- is suggested that selling pressure in respect of leading Australian securities, due to income tax demands in Australia, may have been responsible, for starting the downward trend. Turnover in Government stocks during the week was substantial and although the demand was less keen at the close there was virtually no alteration in values. Comparisons of Government Issues, with those ruling on August I and a year ago, are as follows: Yea r Last This Ago Week Week J: C £ St k., i,"i/t/r.:t-.j7, a'/ a *!()'_' lie.' *ioi% Do., 15/1' Hi-to, ,1 *IOa Kl'J 1 /, Do., ]o/n/rrj-;i.~>, i iouij ioay. .1' W.L., i.'io/.vt, •).-> <),-> LA,.. 1.1/0/17, 2Vi dm ♦0!)% Do., 15/5/-IM, 'J/2 i>7 *OB% Do., i,vo/sii-55, :( ids!; o rv/, +<(<) V l)o.. i,*> /."y/sa-r»o. a 07'/ n its 7 ,, 0,5% * Buyers. LSellers. An important pronouncement which undoubtedly had an effect on the market was (lie address of the chairman, Mr C I. Nathan, at the annual meeting of the New Zealand Insurance Company on Tuesday. While drawing attention to the very strong financial position, of the company, with reserves approximating lili.ni HI Mr .Vat ha n reminded shareholders that the record receipts of the war years must be looked upon as abnormal and that leaner times must be expected. The insurance section jis a whole showed a further easing and at the week's close New Zenlands were l.s 8d lower and South British Is (id down. I'he banking division was slightly easier. New Zealand dropped to 15s Hd, while New South Wales sold yesterday at JJJtT, a ' of .€1 in the last thro** weeks. Ati exception to the general trend was provided by shares closely concerned with the primary industries, which were more active than usual. Farmers' Auctioneering, Dalgety Loan and Mercantile, Goldshrongh Mori Newton King and N.Z. Farmers Co-op. (Christchurcli) were all represented on the sales list and there were also regular inquiries for North Auckland Farmers and Wright Stephenson. Several of the leading Australian industrials showed weakness and Colonial Sugars dropped sharply yesterday

CLOSING QUOTATIONS Buyers Sfcllerts X' s d £ s (1 Bank Australasia 9 8 (i 9 1 t 0 Com. Batik Aust. (1 IS 7 0 IS 9 E., S. ami A. Hank 1 0 (i Nat. Bank X.Z. .. 2 1 1 it 2 15 3 Hank X.S.W. 0(i 15 0 37 5 0 Bank X.Z, o 7 2 5 9 Union Bank Au.st. 8 8 (5 National Insurance 1 4 3 1 5 0 X.Z. Insurance . . -I 10 (> 4 10 « Sth. British Insce. -1 9 0 4 0 6 DalKctv — S 12 0 Dom. 1. anil B. .. 1 3 0 — F.C.A. (.Co pd.) . 5 3 0 — Ditto (A. C. pf.) . 1 5 <; 1 6 9 (iokksbrouKli-Mort 1 11 0 1 11 9 N'.A.F. (A pre!.) . 1 1 <i — Ditto (B pref.) 0.18 0 0 18 9 Traders' Finance . 0 17 o 0 IS 3 Ditto (con.) 0 0 9 0 7 0 United Bide. (Auck ) — 1 5 0 Wricht-Steph. (C. pf.) 1 5 3 —- Ken own (ord.) 0 10 0 0 10 (i Ditto (pref.) . . 0 'J VI 0 3 0 Taupiri (ord.) Auckland Gas 1 10 0 L 14 0 0 7 10 0 s 1 Ditto (con.) 0 0 2 0 3 9 Devonport Ferry .. 1 11 0 1 13 0 Xorthern Steam . . 0 lO 3 0 10 G L.-O'B. Timber . . 1 1 0 1 5 0 Taupo Totara (C.F.) 0 11 0 0 11 0 Fell and Textiles . 2 17 0 -—- Kaiapoi (con.) 0 9 3 0 9 9 Oamaru .— 1 12 0 Wellington — 9 5 0 Ballins Breweries . — 1) IS (i Doin. Brew, (ord.) , 2 -t i; 2 5 li tunes (ord./) 1 13 0 1 17 0 X.Z. Breweries 2 2 it 2 o A.C.I. 2 10 <; 2 IS it British Toliacco .. 2 9 3 2 9 9 Broken Hill Ply. . — 2 -1 9 Burns. I'hilp 3 1 0 — - Bycroft 2 It o 2 17 1) Colonial Siisar . . 5s t.-, o 5!t li> (1 ('on. Brick 0 Hi l II 10 li Dental and Medical -— 1 3 0 Farmers' Trading . i <; f! — Ditto (A C. pf.) . 1 5 9 — Ditto (B C. pf.) . 1. 5 f» — Fletcher Hold. 1 B I) 1 0 3 Ditto (new issue) 1 5 0 i r> () Ditto (pref.) . . 1 H 0 i i_i 0 CI. J. Coles 3 5 9 ft 7 0 K.D.V. Boxes 0 12 4 0 12 9 McKendrick tpf.) . — 1 7 0 McKenzie.s 3 1 t> -— 0 Macky Logan — 1 17 M. and C. (deb.) . 1 5 9 1 0 0 M'.K. Mainifarturcrs 0 8 O 0 S a Morris Fledstrom . 2 •"> (> —- 0 Morts Dock — l. n X.Z. Fertilizer . . 1 1 0 1 5 0 Ditto iC. pf.) . I 4 <; — X.Z. For. I'rod. (ord. 0 0 s 0 7 i 0 Ditto (pref.) 0 IO 0 0 12 X./. Xewspapers . 2 2 9 9 Peters Ice (X.Z.) . 1 2 0 1 3 9 Radio (1930) 0 IS 0 — O Heid Rubber 1 9 0 1 10 Ditto >(con.) 0 IS 3 0 18 9 Panford lord.) o s 3 — Ditto (pref.) 1 2 6 — 0 Self ridges (AVia) . — 1 7 Silk nit — 0 1 S (> Union Oil 1 s — Wilsons Cement 0 19 2 0 1!) 5 Wool worths (X.Z.) 1 0 9 1 1 0 0 Ditto (Props.) . — 1 10 Ditto (Syd.) 1 2 Do. (C. 2nd pf.) 1 10 0 1 12 (1 W'ths Hldgs. (S.A.I — 111 0 Ausi. Found. Co. . O 1 10 0 5 -I Martha 0 9 0 (> 9 r, Waihi Invests. 0 5 5 0 5 ' F.mperor Mount Lyell 0 13 0 0 13 1 12 0 0 0 War Loan. 1/1O/50 0-1 17 rt 95 5 Stock— !)S 0 0 15/0/-17-19, 2V a 97 0 0 15 '-1 19-51, 2% • 90 0 0 15/12/50-56, 0 . OS 12 a 9.8 17 0 1.-/5/ 19-52, 4 . . 101 10 0 105 0 0 31 /5 '5 I-5S, -1 . - — 107 5 0 Auckland Gas, 20 r 12/-l9. 5 . . 03 5 0 105 0 0

1 ill:! Lust 'I'll is If iurh Low Week Week Bank of X.Z.. I'M•J 0/0 45/0 45/8 Com. Bk. Atis. 17/7 1 5/0 is/8 I8/8 Nat, Bk. X.Z. ft 41(i ■IS/0 55/Bank . <i«r>/. 740/IJnion Bsmk . . 154 /( 150/1 OS/3 108/0} Nat. Tnsre. .. Ol/O 01/0 05/0 01/0 N.Z. Irifco. f 10/70/0 00/00/4 Soufli British.. 7(>/n 07/0 82/80/3 A nek. Oas 7/0 O'O «/- • 8/N.Z. Brew. . . .'15/0 10/0 40/0 Horn. Brow. . . in' :il/0 10/0 45/3 A.C.T. r,i 50/57/. 57/0 Bkn. Bill Pfy i.-./o lO'O 45'1 1 '0 Byrrufl . . r,\/<i 1 K '< t 50/Col, Sitcrnr . . 1 100' 1(11 ill' 1 107/f 1 ISO/Farm. Trail. 05': i VI '7 07 /• OO'O* C. .T. Coles . . oi /a 5:!'0 07in 00;.'! Wilsons Com.. . 10/0 |S'lO'O IO/.*t Wwths. fX.Z.) ifl/n 14/10 01 /ft 01 in Ditto (Syri.l in/o ir./R 01/10 22/-t •Buyers. tSellors.