THE SHARE MARKET

Otago Daily Times, Issue 18896, 23 June 1923, Page 11

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE. Mining shares have fluctuated a good deal on the Dunedin Stock Exchange during tho past week, and in them a large amount of business has been done. Waihis at first continued to fall, and on Wednesday three parcels were released at 25s 3d. Thursday’s business closed with the position slightly worse, sales having taken place at 25s (two) and 255, but yesterday there was a brighter aspect, and at the afternoon call business took place on two occasions at 265. Nokomai Hydraulics, in which interest seemed to be dead, came into prominence on Wednesday with a sale at 2s, and yesterday a seller again accepted 2s for a parcel. For a long time sellers had been offering these shares at 10s or 11s, but reticence on the part of buyers gave little opportunity for ascertaining their actual value. Electrolytic Zincs and Mount Lyells have not moved, but Grand Junctions, whirli have not been available at Os 9d for a while, were released at that price yesterday. Four and a-half and five and a-half per cent. War Bonds and Inscribed Stock have not recovered; on the contrary, they have f&llen back further, and buying quotations are both rare and unattractive. Five per cent. Postal Bonds and Inscribed Stock are still firm. Miscellaneous shares have experienced a quiet week as far as actual business is concerned. Kaiapoi Woollens (cent.) were released at 11s 3d on Saturday and have einco had inquiry at lls 6d, though it fell back to Us 3d on Thursday and yesterday. Sugar of Milk shares were sold at 32s 6d on Tuesday, and on the following day a sale was reported at 32s 9d. Brewery shares seemed to have quietened down now, and tho only business for the week that has been mentioned on ’Change was a reported sale of Ward and Co.’s at 465. This class of shares has shown little inclination to move either way. Inquiry for miscellaneous lines generally has been well maintained, and the same may be said of ail other classes. In banking shares, Nationals have attracted improved inquiry, and yesterday there were transactions at £6 19s 9d and £6 19s 6d. Bank of Now Zealands (ex div. and cum rights) rose from 61s oVi Monday to 625, at which they were sold on Tuesday morning. In the afternoon there were sales at 61s 9’d, 625, and again at 61s 9d, and the following day there were two reported sales at 61s 9d. Insurances have not moved to any extent, the only change being a, slight advance in New Zealands, which, after being sold at 29s 3d on Saturday, have had inquiry at 29s 9d. Shipping, coal, meat preservings, and loan and agencies have remained practically stationary, the only alteration being an improvement in the buying quotations for Wright, Stephensons in the last-named class. Yesterday's sales: National Bank, £6 19s 9d, £6 19s Gd; Waibi Grand Junction, Gs 9d; Union S.S. Co. (pref.), 20s 6d; Nokomai Hydraulic, 2s; Waihi, 26s (two). The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage; BANKING. Bank of Australasia—Sel £l4. Bank of N.S. Wales—Buy £4O ss, sel £4O 15s. Bank of New Zealand—Buy 61s 6d, sel 625. National Bank—Buy £6 19s 6d, sel £7 Is.* P. and O. Bank —Buy £l4 15s. Union Bank —Sel £ls 3s 6d. INSURANCE. National Insurance Co.—Buy, 79s 6d, sel 80s. N.Z. Insurance Co.—Buy 29s 9d. South British Insurance Co. —Sel 40s. Standard Insurance Co. —Sel 40s. SHIPPING. Howard Smith—Buy 545. Huddart, Parker (ord.) —Buy 44s 6d, sel 455. P. and O. Deferred Stock —Buy £335. Union S.S. Co. (pref.)—Buy 20s 6d, sel 20s Gd. COAL. Westport Coal Co.—Buy 39s 9d, sel 40s 3d. Westport-Stockton (ord.) —Buy 6s, eel 6s Bd. LOAN AND AGENCY. Goldsbrough, Mort—Buy 48s 6d, sel 495. National Mortgage—Buy 82s 6d. Perpetual Trustees—Buy 375. Trustees, Executors, and Agency—Buy 51s. Wright, Stephenson (ord.) —Buy 30a. Wright, Stephenson (prof.)—Buy 17s. MEAT PRES BUYING, N.Z. Refrigerating (paid)—Buy 25s 6d, sel 26s 6d. N.Z. Refrigerating (cont.) —Sel 13s 6d. South Otago Freezing—Buy 89s, sel 925. MISCELLANEOUS. Brown, Ewing (ord.) —Buy 28s. Brown, Ewing (prof.)—Buy 20a 6d. D.I.C. (prof.)—Buy 20s 9d. Dental and Medical Supplies—Buy 19s. Donaghy’s Rope and Twine —Buy 335. Dusedin-Kaikorai Trams —Buy 255. Kaiapoi Woollen (ord.)—Buy 23s 3d. Kaiapoi Woollen (cont.) —Buy lls 3d, sel 12s 3d. Kaiapoi Woollen (pref.)—Buy 21s 9d. Milburn Lime and Cement —Sel 36s 3d. Mosgiel Woollen Co. —Buy £7- 7a. M’Leod Bros. Soap—Buy £l6 19s. National Electric—Sel 20s. N.Z. Hardware (ord.) —Sel 8s 6d. N.Z. Hardware (pref.)—Buy 15s. N.Z. Paper Mills (ord.) —Buy 245, sel 24s 6d. Otago Daily Times —Buy 555. Smith and Smith (prof.)—Sel 21s. Wilson’s (N.Z.) Cement —Sel 27a 3d. Crown Brewery—Sel 55s 6d. Ward and Co. (browera) —S©l 465. MINING. Nokomai Hydraulic—Buy Is 6d, eel 2a 6d. Waihi —Buy 25s 9d, «el 265. Waihi Grand Junction —Buy 6s 9d, sel 7a 3d. Mount Lyell—Sel 23s 6d. WAR BONDS. 4| per cent. Bonds, 1938—Sel £97. 4J per cent. Bonds, 1939—5 el £97 ss. 5 h per cent. Soldiers’ Bonds, 1933 —Buy £ld 10s. 4J per cent. Inscribed, 1938 —Sel £97 ss. 4J per cent. Inscribed, 1939 —Sol £97 ss. 5 per cent. Postal Bonds, 1927—8uy £9B 7a 6d. 5 per cent. Postal Bonds, 1929—8uy £93 7s 6d. . * Odd parcel. NORTHERN EXCHANGES. (Per United PiiEsa Association.) The following business was done on 'Changes yesterday: Auckland. —Sales: National Bank of N.Z., £7; Auckland Gas, 26s 9d; Devonport Ferry, 26s 6d; Hill and Plummer, 22s 3d; Waihi, 265, 26a 3d, 265, 26s 3d, 25s Gd, 25s 3d; Grand Junction, 7a Id, 6a lid. Christchurch.—Sale reported ; SouCli British Insurance, 39s 9d; Manning's Brewery, £G 12s 6d; Whitcombo and Tombs, 72a 6d; Waihi Grand Junction, 6s 9d, 6s lid. Sales: National Bank of New Zealand, £7; Goldsbrough Mort (cum div.), 48s 9d; Manning’s Brewery, £6 12s 6d; Ward’s Brewery, 41s; Electrolytic Zinc (rights), lls lod. ’