THE SHARE MARKET.

Otago Daily Times, Issue 19952, 20 November 1926, Page 10

THE SHARE MARKET.

DUNEDIN STOCK EXCHANGE The outstanding feature of the Dunedin Stock Exchange during the week has been an all-round improvement in mining shares. Other stocks have been only moderately busy. Bank of New Zealands have eased a little and have buyers at 60s, compared with 60s 6d last week. A number of Bank of New Zealand rights have changed hands during the week at 6s 6d premium. These shares are quite apart from Bank of New Zealand shares, and are entitled to 7£ per cent, discount on the par value. They do not, however, participate in any further benefits. If paid up in full the bank will allow 5 per cent, on the full deposit, which will be debited with a call of 5s each six months until the shares are fully called up on Juno 30, 1928. Therefore the return on investment to a buyer at 6s 6d premium would be £4 9s 7d the first year, £5 8s 6d the second year, and thereafter £5 13s 2d per cent, per annum. Commercials, following an announcement of an increase in capital, are inquired for at 31s 7d. There is no immediate response, though sellers previously asked 32s 6d. Nationals are firm with a buyer at £7. There is no demand for Unions, which are offered at £ls 6s. N.Z. Breweries are offered at 52s with inquiry at 50s 6d. The 10 per cent, debentures show further improvement, transactions being recorded at 25s compared with buyers’ offer of 24s 6d last week. Stock has a less pronounced demand, buyers quoting at 24s 9d. Among insurances Nationals (ex dividend) have unsupported sellers at 775. South British, which had reported turnover at 57s a few days ago, are offered at 57s 6d. Inquiry for the Huddart Parker preference issue shows a decrease of a penny on last week’s closing quotaion. Westport Coals paid a dividend of Is 6d during the week, business having been done previously at 37s 6d and 37s 3d. Turnover has since been reported at Js6s, and the shares are offered at 36s 3d without inquiry. Westport Stocktons ord’s. have improved demand, buyers* quotation advancing twopence during the week. Goldsbrough Morts are sought at 49s 3d, sellers' demand of 50s showing an easing of 3d since last week. The offer of 36s 6d for Gear Meats shows an advance of sixpence, but sellers make no response. N.Z. Refrigeratings, which have been placed at 14s 6d, have renewed inquiry that figure. These values are on a par with last week’s. The contributing issue has a tendency to weaken, the best offer being 6s 9d. Dominion Rubbers are still offered at 50s 6d, a buyer at 49s 6d having been attracted. Sellers’ quotation of 10s 9d for Guarantee Corporations is equal to buyers offer last week. The best buying quote at present is 10s sd. The demand for Taranaki Oils has firmed to 10s, sellers asking Is more. The offer of 34s 6d for Wilson’s Cements shows an imorovement of threepence on last week’s soiling figure. At present none are available. _ , Kawaraus have improved still further, business at 3s 2d resulting. The quotations dosed with buyers at 3s 2d and seller at 3s 6d. The demand for Nokomais has advanced to 4s 3d premium, holders* demand or os premium remaining unaltered. Grand Junctions have also firmed, buyers quoting at 2s 3d. Mount Lyells are wanted at an im* provement of sixpence, sellers asking twopence more than at the close of last week. Favourable reports from _ the mine resulted in business at 21s 6d in Mount Isas, and in subsequent inquiry at 21= 94 Sellers quotation is Is in advance of the latter price. , , ~ . St. Bathans shares have been sold at from 4s 6d to 5s 9d premium. A start has been made to sink an incline shaft on the lead which carried , good values fromi the surface of the hill down to about 300 ft. This shaft is being sunk from the bottom of the old Scandanavian hydraulic paddock. Of the 50.000 shares. 22,000 are fully paid vendors’ shares, 18,000 are ing shares paid up to 19s. and 5000 are contributing paid to 12s. _ A total of £--.100 has been called up. leaving £2900 uncalled. There are still 5000 unissued shares. Up to tbe present no gold has been credited to the company’s account. . Upper Nevis have firmed to sales at os oa Pr 4i per cent. Inscribed Stock, 1933 and 1039. has been dealt in at £96 12? 6d. That nrice is at present offered for Bonds. Quotations for 5| per cent Soldtem Settlement Stock have advanced to £IOO 10s. business at that price being reported. Inscribed Bonds, 192741, are wanted at an improvement of ss. Sales: N.Z. Breweries Debentures 255; Mount Isa, 21s 6d: St. Bathans (A Issue , 5s 9d prem. (two) • Kawarau, 3s 2d (three). Sales Reported: Electrolytic Zinc (ord.). 36s 6d; Westport Coal (ex. div.l. 365. The following are yesterday afternoon s buying and selling quotations, which are subject to the usual brokerage: BANKING. Bank of Australasia—Sel £l4 7s 6d. Bank of N.S. Wales—Sel £45 ss. Bank of Now Zealand—Buy 60s, sel 60s 9d Bank of New Zealand (rights)—Buy 6s sd, sel 6s 6d. , Commercial Bank —Buy 31s id. National Bank—Buy £7. Union Bank —Sel £ls 6s. BREWERIES. Crown Brewery—Buy 19s. Manning and Co.—Sel 225. N.Z. Breweries, Ltd.—Buy 50s 6d, sel 'Pn.Z. Breweries, Ltd., Debs. —Buy 255, SG N.7h Breweries, Ltd., Stock—Buy 24s 9d, Staples—Buy 57s 3d, sel 5Ss.

INSURANCE. National Insurance Co. (cx div )—Sel 775. — Buy 38s 6d, sel 39s 4d South British Insurance Co.—Sel 57s 6d. Standard Insurance Co. —Sel 59s ya.

SHIPPING. Howard Smith—Buy 325. ~ , Huddart, Parker (pref.) —Buy 20s 3d, sel 21p. P. and O Deferred Stock —Sel £253. U.S.S. Co. (pref,)—Buy 20s 4d.

COAL. N.Z. Coal and Oil—Sel Is 6d. Westport Coal Co. 36s 3d. wostport-Stockton (ord.)-Buy Is 2d, sel lS ?d ‘ LOAN AND AGENCY.

Goldsbrough, Mort—Buy 49s 3d, sel 50s, National Mortgage—Sel Vis 3d. N.Z. Loan and M. (ord.)— Buy £94. N.Z. and River Plate—Buy 235. Perpetual Trustees—Buy 61s 6d. Trustees, Ex. and Agency—Se] 60s. Wright, Stephenson (ord.)—Se 245. Wright, Stephenson (pref.)—Sel Ws 3d.

MEAT PRESERVING. Goar Meat Co-Buy 36s 6cl. N.Z. Refrigerating (pd.)—Buy 14s od, sol 15s N.Z. Refrigerating (cont.)—Buy, 6s 9d, cal 7^ MISCELLANEOUS.

Auckland Amusement Park—Buy 2s pram. Brown, Ewing (pref.)—Bnv 20s 3d. Bruce Woollen Co —Sel 20s. DIO ford.)— Buy 8s 6d nrem. D.T.C (pref.)—Buy 20s 3d , . Dominion Rubber-Buv 49s 6d sel 50s 6cl, Donns-tiy’s Rope and Twine—Buv 335. Dunedin-Kaikorai Trams—Buy 345. Dunedin Stock Exchange I ropty.—Sel 09s. Eclipse Petrol—Sel 12s 6d. Kniapoi Woollen (ord.)—Sel 11s 6d Alii burn Lime and Cement—Buy ols. M‘Leod Bros. Soap—Buv £25. National Electric—Buv 19s. N.Z, Drug Co.—Buv 70s 6d. N Z. Express (ord.l—Sel 235. N.Z. Express (pref.)—Buy 17s. N.Z. Guarantee Corp.—Buy 10s sd, sol 10s 9d. , . „ N.Z. Hardware ford.)—'Buy /?. N.Z. Paper Mills (ord.)— Buy 18s 3d. Smith and Smith (pref.)—Sel 19s. Taranaki Oil—Buv 10s. sel 11s. Wilsons (N.Z.) Cement —Buy 34s 6d. MINING. Kawarau G.M Co.—Buy 3s 2d, sel 3s 3d. Nokomai—Buy 4s 3d prom., sel 6s prem. Waihi —Buy 18s 6d, sel 20s. Waihi Grand Junction—Buy 2s 3d, sol 2s 4d. Electrolytic Zinc (pref.)—Buy 36s 9d, sel 37s 7d. Electrolytic Zinc (ord.)— Buy 365, sol 38s. Mount I.yell—Buy 28s, sel 28s 4d. Mount Isa —Buv 21s 9d, scl 22s 9d. St. Bathana (A. Issue)—Buy 5s prom., sel 5s 9d prem. Upper Nevis—Buy 3s 6d prem., sol 4a 9d prem. Albumin—Buy 4s 4d, gel 4s 9d. Waiotahi—Buy Is 4d.

WAR BONDS. Ai per cent. Bonds, 1930 —Buy £97 10s. 44 per cent. Bonds, 1938 —Buy £96 12* fid. 4j per cent. Bonds, 1939—8uy £96 12s fid. Si per cent. Soldiers’ Bonds, 1933 —Buy £IOO 10s, sel £IOO 12s fid. 4i per cent. Inscribed, 1938—Buy £96 10s, sel £96 15s. Si per cent. Soldiers' Inscribed, 1953 — Buy £IOO 10s. 5 per cent. Postal Bonds, 1927 —Buy £9B 15s. 5i per cent. Inscribed Bonds, 1927-41 — Buy £96 ss. 5i per cent. Bonds,- 1936—8uy £IOO ss. NORTHERN EXCHANGES. (Per United i?RESB Association.) The following business was done on ’Changes yesterday:— Auckland. —Sales: Glaxo Debentures, £B9; Bank of New Zealand Rights, 6s 7d; Union of Australia, £ls 4s 6d; Goldstrough Mort, 49s fid; Hethenngton Collieries (cont.). 6s 3d; Auckland Gas- 23s 9d, (cont.). 13s; Kauri Timbpr, 29s 0d; National Timber, 14s fid; Taranaki Oil 10s; Alburnia, 4s sd; Moanataian (cont.), 5s 3d, 5s 9d, 5s lOd, 5s 9d. 5s fid. 5s 3d, ss, 4a 9d, 4s 10d, ss„ 4s lid; Lucky Spot (cont.), Is 4d, Is 2d, Is Id; Waihi Grand Junction, 2a 4d. Wellington. —Sales: Auckland Gas (paid), £1 3s Bd. , ~,, Christchurch.—Sales reported: Goldsbrough Mort, 49s 6d; Kawarau, 3s 2d (two parcels), 3s 3d.- Sale: Bank of Australasia, £l4 4s.