THE SHARE MARKET

Otago Daily Times, Issue 18547, 6 May 1922, Page 13

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE. A good deal of activity has been, experienced on the Stock Exchange during the past week, and there was every indication that a plentitude of money has been available. ' In support of this it will be remembered that during; the last month or six weeks several municipal and public body loans have been subscribed—the Otago Harbour Boarjj loan of £133,600, the Christchurch City Council, £150,000 loan, and smaller loans, making a total of £170,000; a New Plymouth loan of £72,000, and the local City Corporation loan to which a large sum has already been subscribed. During the week there has been a large turnover in Government War Loan securities on a steadily rising market. In view of the fact that according to yesterday's paper a £5,000,000 5 per cent, loan, raised in London, was underwritten at 95 per cent., or giving- a return of £4 15s bn investment, it is probable that New Zealand Government war loans and similar securities will furthe” appreciate. The demand for “gilt-edged securities” has been reflected Iccally on the better class of investment shares, particularly banks and insurances. The mining division became firmer during the week, Waihis having improved! from-20s 6d at the beginning of the week to 23s (buyers) at yesterday afternoon’s call. Grand Junctions also firmed, the increase being partly due to further developments in the mine. Mount Lyells have also held firm, and were wanted at 15s 3d yesterday, with sellers at 15s 9d. P. and O. Banking Corporations were in demand at £l3 5s without attracting u seller. Bank of Australasias are slightly easier, with sellers at £l3 2s 6d. National Banks were in demand at £6 yesterday, with a sellct asking iG 0s 6d for an odd lot. Bank of New South Wales firmed from £37 to £37 15s at the last call as a result of the receipt of information that the bank was issuing more shares in the proportion of one to five, but prices are not yet known locally. A large number of .Bank of New Zealands changed hands during tho week at 525, the market becoming easier yesterday with buyers at 51s 3d and sellers at ols 9d. Union Banks were on offer yesterday at £l3, no buyers quoting. A parcel of National Insurances was sold yesterday at 61s. New Zealand Insurances are steady, wtih buyers at 28s 3d and sellers at 28s 9d. Standards were in demand at 26s 9d. The denomination of these shares has been altered, and the quotation is now on a basis of two shares, paid up, of 10s to one share at 20s. P. and O. deferred weakened considerably during the week, and were quoted in the vicinity of £320. Huddart, Parkers sold during tho week at 46s 3d, and were quoted yesterday at buyers 465, and sellers 475. Goldabrough Morts are strong, with a buyer yesterday at 35s without attracting a seller. Refrigerating shares have met a little demand and arc easier. Mosgiel Woollens were wanted at £6 4s, with recent sales at the same figure. The New Zealand Paper Mills has announced a dividend of 4 per cent., making a total of 7J per. cent, for the year, which is a reduction of 2i per cent, on last year’s dividend. They were on offer yesterday at 22s 6d, but failed to attract a buyer. New Zealand Drugs were in demand at 51s 3d, and there were several sail?, during ,tlm week at 51s 6d. Sales: Kaiapoi Woollen (ord.), 25s 9d; (3) New Zealand Government 4J per oent. Bonds (1930), £93 I2s; National Insurance, 61s. Sales reported: National Mortgage, 635; Donaghy’s Rope and Twine, 31s. The following arc yesterday’s latest quota' tions, subject to the usual brokerage: Dhedgino Stocks. Rising Sun—-Buy 2s 6d. Rise and Shine—Buy 2s 6d. Mining Stocks. Wailii (lOd pd.)—Buy 235. Waihi Grand Junction—Buy 7s 6d. scl Bs. Mount Lyell—Buy 15s 3d, eel 15s 9d. Nokomai Hydraulic—Buy 10s 6d. . Investment Stocks Bank of Australasia —Sel £l3 2a 6d. National Bank of N.Z. (odd lot)—Buy £6, sel £6 Os 6d. Bank of N.S. Wales—Buy £37 15s, sel £3B 2s 6d. Bank of N.Z. —Buy 51s 3s, sel 51s 9d. P. and O. Banking Corp.—Buy £l3 ss. Union Bank of Australia—So! £l3. National Insurance Co.—Buy 60s 9d, scl 61s. N.Z. Insurance Co. —Buy 28s 3d, sel 295, South British Insurance—Buy 365. Standard Insurance Co.—Buy 26s 9d. P. nud O. (deferred) —Buy £315. U.S.S. Co. (pref.)—Buy 18s 3d. Huddart, Parker (ord.)—Buy IGs, sel 475. WcstpOrt Coal Co.—Buy 29a 6d, sel 30a. WcstjKjrt-Stockton (ord.)— Buy 5s 3d. Westport-Stocklon (pref.)—Sel 9s. Taupirt Coal (ord.) —Buy ]6s ]od, scl 17s (id. N.Z. Coal and Oil—Buy 2s 6d. eel 3a Gd. Brown, Ewing (ord.)--Buy 24s 3d. Brown. Ewing (prof.)—Buy 18s 3d. D.I.C. (ord.)— Buy 11s. D.I.C. (pref.)—Buy 18a, .sel 18s Bd. Ooldsbrough Mort—Buy 35f1. N'.Z. and River Plate —Buy 18s 7d. Donaghy’s Rope and Twine—Buy 30s 7d. Dunedin-Kaikorai Trams—Buy 225. . N.Z. Refrigerating (Ifls pd.l—Buy 13s 3d. Kaiapoi Woollen (ord.)—Buy 25s Cd, sel 059 9 cl. Kaipoi Woollen (pref.)—Sel 12s 6d. Mosgiel Woollen—Buy £6 4s. N.Z. Paper Mills—Sel 22s 6d. N.Z. Paper Mills (new issue)—Sel Is 3d prenv. N.Z. Drug Co. (£2 pd.)—Buy 51s 3d, Smith and Smith (pref.) Buy 16a, ■ Wilson's Portland Cement—Buy 17s. Milbnrn Lime and Cement—Buy 30s. Otago Daily Times—Buy 45s 6d. DEBEHTUBES. N'.Z. Government War Bonds (4J per cent.). 5931)—8uy £93 2s 6d, se! £93 12a 6d. N’.Z. Government War Bonds (4J per cent,), 1938 Buy £92 7s Gd. N.Z. Government War Bonds (4J per cent.), 1939 Buy £92 7s 6d. N.Z. Government Inscribed Stock (4J per cent.), 1938—Buy £92 N.Z. Government Inscribed Stock (4£ polecat.), 1939—8uy £92 10s.

N.Z. Government Postal Bonds (5 pci' cent.), 1927 —Buy £9l. N.Z. Government Postal Bonds (5 per cent.), 1929 —Buy £9l. • 3ST.Z. Government Postal Inscribed (5 ppr cent.). 1927 —Buy £93 10s. - N.Z. Government Postal Inscribed (o per cent.), 1929-Buy ,£93 10s. Soldiers’ Settlement Bonds (51 per cent.,, 1933—8uy £9B. Soldiers' Settlement Inscribed (5 a r ,; r cent.), 1033—Buy £9B. NORTHERN EXCHANGES, j (Per United Press Association.) ' The following business was done on 'Change yesterday: Auckland. Sales: War Loan (1927), £o'>; Soldiers’ Bonds, £9B os; Soldiers’ Inscribed, £9B 10s; Union Bank, £l2 18s and £l2 189 6d; New Zealand Insurance, 28s 9d; South British, 355; AVileon's Cement, 17s Gd; AVnihi, 235. Christchurch. —Sales reported: .New Zealand Government 5 per cent- Bonds (1927 , £95; National Bank, £6; New Zealand Drug, £2 11s 6d.