THE WEEK'S TREND

New Zealand Herald, Volume 81, Issue 25048, 11 November 1944, Page 5

THE WEEK'S TREND

AN EVENTFUL PERIOD BANK OF N.Z. VALUES Tlie chief event in a particularly .interesting week on the Stock Exchange has been (he recommendation of the Labour Party conference that the Government, already a large shareholder in the Bank of New Zealand, should consider the purchase of the privatelyowned shares. *At first Auckland operators were chary in bidding for these shares, but this hesitancy soon wore off and an optimistic view of price prospects gained ground. Final .sales yesterday wero at 41s Ud, after which buyers moved up another Id, but sellers had withdrawn. This price ex the interim dividend of 7d a share compares with the cum dividend rate of 44s Od. The highest price realised for Bank of New Zealand shares this year was 4(Js 3d in July. The banking section was olherwise rather quiet. Interest in the Government section centred chiefly in the Victory Loan, which came up for initial dealings on Monday. On the Auckland Exchange the market opened with buyers at I!J7 and sellers asking os higher, but a reported sale of a I'oUO parcel in Christchurch at £U4 came as something of a shock to local brokers. However, this proved to be an isolated transaction and subsequent dealings in the south were reasonably close to the Auckland valuation. The yield to the present investor works out at slightly better than 3% per cent. Other Government issues | were firmly held at late rates. Local body and trading debentures were offered more freely. . ... Comparisons of Government issues, witn those ruling on November 3 and a year ago, are as follows:— _

Recent easing in insurance shares continued and selling pressure brought further declines in New Zealands and South British, the former at 87s and South British at 75s Od were at their lowest levels of the year. Thpr; was a steady inquiry for a limited selection of industrials, with no important changes in price levels. The timber section attracted attention and lhe shares of Leyland-O'Bnen (par 1.-»s), whose accounts, showing slightly reduced profits and an unchanged dividend rate, arc published, were traded regularly at Is ud. Fletcher Holdings. Forest Products, Reid Rubbers, Farmers' Fertilizers, Iv.D.V. Bo>;es, Wilsons Cement and brewery shares were in regular demand. : Australian leaders were firmer than for somo time. The announcement of a reduced dividend rate for Colonial Sugars had no appreciable effect upon shares values, which were steady at £57. Buyers for A.C.l.'s moved up to 08s fid without selling response, while G. J. Coles were firm at 60s and a 2s gain was recorded by W. It. Carpenter. Broken Hill Proprietary shares were a shade easier.

THE CITY MARKETS DEMAND FOR CAULIFLOWERS There was a keen demand for cauliflowers and lettuce at the City .Markets .yesterday and although they were available m heavy quantities values remained high. Carrots were plentiful and prices low. Supplies of stravvberries are still small and prices are high. Eating plums are now coming forward, but (he price of cooking plums is unchanged. Prices were: Fruit. —Tomatoes, hothouse, 2s to 3s 3d per lb; tree tomatoes, nwv black. '24s Cd to :Us (id a case; lemons. 19s a case; Meyer. Os to K)s a case; plums, '-'.'ls Od to 27s Od a case; cooking, 10s to 17s ud a case: strawberries. Captain Cook, extra choice, -is to 5s 'jd a chip; Captain Cook, jam, Od to '2s 3d a chip; gooseberries. 20s to 32s 6d a case; loquats, (>s (id to 35s a case. Field Produce. —Asparagus, Od to Is lid a bundle; beet, 8s to 12s (id a case; broad beans, 5(1 to 7%d per lb; carrots, 10s to 17s a cvvt; cauliflowers 12s to 25s a sack; cabbanes. to to Ss a sack, and up to fi a cwt; cucumbers, hothouse, 10s to 24s a dozen; green peas, 7d to Is lVid per lb : kumaras. 33s a cwt: leeks, Is to 2s a bundle; lettuce, 7s to 22s a case; marrows, new season's, Od to 2s each; onions, 31s Od a cwt; potatoes, southern, 14s to Ids a cwt; new. No. 1, 3d to 3Vid per lb; No. 2, 4s to 8s a bag; pumpkins, choice Triumble, 45s to (55s a cwt- parsnips, 30s a cwt; radish. 3s to lis a dozen- rhubarb, 3s to 7s (id a dozen; spinach, 7s to 1 If- lid a case; Bprins onions. Is to 3s. a bundle; swedes. 4s Od to 5s (id a ban: tuinips. 5s Cd to 8s Gd a dozen. Poultry.—Cockerels, heavy breeds, prime, (is to Os; heavy breeds, not prime, 4s to ss; liKlit breeds, prime Is to ss; light breeds, not prime, 2s Od; fat hens, heavy breeds, 5s to 7s; light breeds, 3s to 4s; pullets, heavy breeds, best, 7s to 8s; heavy breeds, smaller, 4s to (3s : light breeds, best, 3s to 5s (id; light breeds, smaller, 2s up; drakes, voting, urinic. 4s; young, smaller, 2s up; old, 2s; ducks, young. 6s; old, 2s to 2s Gd; geese, 4s to 53: turkey hens. 7s to 12s; gobblers. 15s to 20s Eggs.—Hen. standard grade. Is S%d a dozen; duck standard grade, Is 7M4 a dozen. HEN EGGS DEARER The Auckland Egg Marketing Committee announces an increase in the prices of hen eggs commencing from Monday, and affecting all sales in the Auckland marketing area and the Tauranga and Hamilton special marketing areas. Prices for duck eggs are unchanged. The new schedule is:—Heavy hen. wholesale, Is fl'/ a d a dozen, retail 2s 2d; standard, Is lO'/sd and 2s Id; medium, Is B%d and Is lid; pullet, Is 5y a d and Is 7 1 / 2 d; ungraded. Is S'/ad. Country prices outside of the above marketing areas arc '/ 3 d a dozen less for all grades, making country storekeepers' buying prices for ungraded hen eggs Is Bd. EAST COAST \\ r OOL (0.C.) GISBORNE, Friday The first appraisal of the season of Gisborne and east coast wool will bo commenced tomorrow and is expected to be completed by Monday night. The offering of 0000 bales at Gisborne, Tokomaru Bay and Tolaga Bay approximates Uie total presented in the past two seasons. MINING YIELDS Grey River (West Coast).—Period ended November S: 5570z, 105,080 yds, 255 hours, j October totals: 1003oz, 333,015yd5, 486 hours.

At;o Week Week £ £ *102 Stk., 15/1/53-57, 3 l / a *103 *102 Do., 15/4/4 G-49, 4 10-_>Vi iooy a 100% Do., 15/0/02-55, 4 lOTVi 105% no.5% W.L., 1/10/53, 2 l A 91'/ B *91 04 L.L., 3 o/9/ I*, 2 Vg *97'/ 4 *98 96/4 Do., 15/5/48 '-"/a 98 *97/i Do., 15/9/52-55, !! 98 Do., 15/5/53-56, 3 *98% * 98"/a 1)0/4

1943 Last This High Low Week Week Bank of X.Z. 43/4010 41/6 44/10* Com. Bk. Aust. 17/7 15/9 17/10 17/11 Nat. Bank X.Z. .">-1/ 6 48/0 54/OJ 53/9 Bank X.S.W.. . 085 / - 000/- — .710/Union Bank . . 151/0 152/107/0 Nat. Insce. 24IV 21/0 24/*l* 25/4 X 7 .Z. Insce. 90/70/0 87/9 87/Sth. British .. 70/3 07/9 70/0 75/6 Auck. Gas 7/0 0/0 7/9 7/8 X.Z. Brew. .. 39/3 35/0 42/8 42/8 Dom. Brew. . . 40/31/0 4 1/11 45/A.C.I. 50/40/9 57/6* 58/0* Bkn. Hill Pty. 45/6 45/44/9 Byeroft 51/0 49/9 53/Col. Sugar 1135/Farm. Trad. .. 25/3 21/7 20/1 20/G. J. Coles .. 01/3 53/0 09/Wilsons Cent... 19/0 19/18/5 18/5 W'wths. (X.Z.) 18/3 14/10 21/Ditto (Syd.) 19/0 15/8 20/11 20/10 ♦Buyers. JSellers.