THE SHARE MARKET

Otago Daily Times, Issue 18760, 13 January 1923, Page 12

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE. For the first week of the year on the local ’Change business has been good, and a firm tone has been maintained daily. On Monday a parcel of Westport Coals changed handd at 31s Bd, the market closing with buyers offering 345, and sellers asking 31s 6d. The next day these shares firmed, buyers offering 34s 5d and sellers refusing to take less than 355, but no business was done on ’Change, a sale being reported at 34s 6d. They firmed a little on Wednesday, buyers offering 34s 6d, with sellers asking 85s, while on the following day they were in demand at 34s 9d, the market closing •with a sixpenny margin, without result Yesterday 34s 9d was again offered fer them, but more were available at Jess than 355. Waihifl also attracted some attention during the week, several lots changing hands. On Monday the buying and selling figures were 34« 8d and 34s lid respectively, a sale being effected at 34s 9d. On Wednesday two parcels changed hands at S4s 6d and one at 84s 7d, the market closing with an elghtpenny margin. The following day they were also active, two parcels being turned over at 34s 3d and two at 34s 3d, 4tie hammer falling with buyers at 84s and sellers at 34s 3d. Yesterday buyers offered 345, with sellers asking 34s 6d without result. Mount Lye lls were very close on Monday, buyers offering 30s 9d, sellers demanding one penny more. A sale took place on that day at 20s 9d. Throughout the week they remained firm, and were in demand yesterday at 20s lOd, sellers asking 31s Sd, New Zealand Refrigeratings were also sought after, a parcel of contributinga changing hands' at 16s 6d on Tuesday. The following day two lots were disposed of at 15a 6d, and one at 15s fid. No further business was done the last two days, and the market closed yesterday with a eevenpenny margin. Government Bonds firmed gradually during the week, but sellers, in most eases, were scarce. A parcel of Soldier Settlements. 1933, changed hands at par on Monday, but no othsr sales took place in this class. On Thursday a parcel of Government 44 per cent., 1938'fi changed hands at £96 12s 6d. Sales: Union Bank, £l4; Standard Insurance, 34s 6d, 34s 3d; Huddart, Parker, 555. The .following were yesterday afternoon's buying' and selling quotations, which are subject to the usual brokerage; BANKING. Bank of Australasia —Buy £l3 2s 6d. Bank of New South Wales—Buy £35 15s. Bank, of New Zealand—Sel S7.s 6d. National Bank—Buy £0 Gs 6d. Union Bank—Buy £l3 17s 6d, eel £l4 2s 6d. INSURANCE. National Insurance Co.—Sel 72s 9d; N.Z. Insurance Co.—Buy 28s Id, sel 36s 9d. South British Insurance Co.—Buy 375, Standard Insurance Co.—Buy 345, sel 355. SHIPPING. Huddart, Parker (ord.)— Buy 48s. Huddart, Parker (pref.)—Buy 555, sel 55s 6d. COAL. N.Z. Coal and Oil—Sel 3s Id. Westport Cool Co.—Buy 31s Bd, eel 355,

LOAN AMD AGENCY. lj ' Goldsbrougb, Mort—Sel 44b 6d. National Mortgage—Buy. 71s 6d. j Wright, Stephenson (ord.) —Buy 255. MEAT PRESERVING. Canterbury Meat—Buy £l4 17s, sel £ls 10a. N.Z. Refrigerating (paid)—Buy 28s, N.A. Refrigerating (cont.) —Bay 16a, sal 15s 7d. Southland Frozen Meat (ord.) —Buy 28s. MISCELLANEOUS. Brown, Ewing (ord.) — Buy 26s 2d, eel 37a 6d. Colonial Sugar—Buy £35. D.I.C. (ord.) —Buy Is 4d prcm. 1 g.I.C. (pref.)—Buy 20s, sel 20s Gd. ! oniinion Rubber—Buy 20s, sel 20s 9d-Dunedin-Kaikorai Trams—Buy 24s 9d. Dunedin Stock xchange Propty.—Buy 41s. Dunlop Rubber—Buy 225. Kaiapoi Woollen (ord.) —Buy 2Ss. Kaiapoi Woollen (cont.) —Buy 12s 3d, eel 13s. Milburn Lime and Cement —Buy 32s 6d. Mosgiel Woollen Co.—Buy £6 10s. M'Leod Bros. Soap—Buy £l6. N.A Drug Co.—Buy 555. N.Z. Malay Rubber —Buy 10s. N.Z. Paper Mills (paid)—Buy 23s Gd. Otago Daily Times—Buy 48s. Whitcombe and Tombs—Buy 665. Wilson’s (N.Z.) Cement —Buy 23s Id, eel 245. MINING. Waihi—Buy 345, sel 34s 6d. Mount Lyell—Buy 20s lOd, sel 21s 3d. ' WAR BONDS. 4i per cent. Bonds, 1930—Buy £96 10s. 4) per cent. Bonds, 1938—Buy £96 17a 6<L 44 per cent. Bonds, 1938 —Buy £36 ISs, »©1 £97 ss, 54 per cent. Bonds, S.S., 1933 —Buy £IOO. 44 per cont. Inscribed, 1938—Buy £96 15a. 4 i per cent. Inscribed, 1933—8uy £36 16s. 54 per cent. Inscribed, S.S., 1933—8uy £IOO, sel £IOO ss. 5 per cent. Bonds, P. 0.. 1927—8uy £96 10s. 6 per cent. Inscribed, P. 0., 1927 —Buy £36 10s. 5 per cent. Bonds, P. 0., 1929—8uy £96 10s. - 5 per cent. Inscribed, P. 0., 1929—8uy £96 10s. NORTHERN EXCHANGES. (Pee United Peess Association.) The following business was done «n ’Changes yesterday; Auckland. —Sales: War Loan (1927), £96; National Bank, £6 8s; National Insurance, 72s 6d; South British Insurance, 37s 6d. Wellington.—Sale reported: Union Bank, £l2 16s (two parcels). . Christchurch. —Sale reported: National Bank, £6 7s 6d. bale:. Huodart-ParEer, £i 14s 6d. STOCKS AND SHARES. GENERAL ADVANCE IN PRICES. uTbou Ode Own Coeeespondent.) AUCKLAND, January 12. The general all round advance in the pribea of stocks and shares as quoted on the Auckland share market is very noticeable to-day. As compared with the quotations of a year ago practically every stock of sound commercial value has improved in price. The most remarkable change tor better is in Government Wan Loan Bonds and Inscribed Stock. Taking the buying quotations as a basis of comparison the prices show that substantial indications are given of restorep confidence existing now as compared with a year ago. The offers for War Loan Bonds have increased by £6 10s in the case of the 1930 issue, by £ll and £ll, 5a respectively in the 1938 and 1939 issue, and by £4 10s in the 1927 issue. Soldiers’ Loan Bonds have increased in value by £7 12s 6d. As regard* Inscribed Stock the increase in the case of the 1927 issue is £4 10s, and in the 1938 and 1939 issues £ll 5s and £ll respectively, while Soldiers' Loan Inscribed Stock ha* risen by £7 12s 6d. A glance at the other investment stocks shows that all bank shares have improved. Insurance stocks are still in favour and financial shares have mostly risen in the period. Among the miscellaneous investments such concern* as Abraham and Williams, ; Newton King, the Farmers’ Co-operative Auctioneering Company, ana similar companies have come much _ into favour in tbo last few .months. In mining the most noticeable improvement in the 13 months has been in Waihi shares. These have advanced in ‘ recent months, partly owing to the theory put forward in Mr Morgan’s report that there might be a secondary enrichment in the mine, and partly because of the. developments on the Edward lode. A year ago the best offer was 18s 6d, but the shares are now selling at 83s 9d, having shown a slight tendency ■ to weaken in the last day or two on account of the threatened trouble over the reduction of miners’ wages. The Waihi Grand Junctions have improved also. The present buying price, 10s, is 2s 6d better than that of a year ago.