WEEK’S TRADING REVIEWED

Southland Times, Issue 22999, 19 September 1936, Page 4

WEEK’S TRADING REVIEWED

New Zealand Stock Exchanges

PRICES REMAIN STEADY A fair volume of business was recorded on the stock exchanges of the Dominion during the week. Prices on the whole remain very steady. There has been a slight fall in the prices of some lines, but the reduction has been hardly noticeable. Government securities continue to show strength and prices for all lines are quite up to those ruling during the past few weeks. Some business was done in tire short-dated 1940 stocks and bonds at £lOl 15/- to £lOl 17/6. The inquiry for the other 4 per cent, loans was not quite so pronounced; still there was a certain amount of trading done in the issue due in 1946 at £lO3 15/to £lO3 17/6 and in the longer dated loan due 1955 at £lO5 15/-. In the taxfree stocks buyers were active at increased prices, but only limited business was done in this line. The turnover in the banking section was not large, but the market shows no change from that of the previous week. Bank of New Zealand’s were quietly dealt in at 39/3 and later at 39/1, the market closing with buyers at 39/-. Commercials of Australia remain unchanged at 18/4 and there was no change in the price for Commercials of Australia’s preference, which were transferred at £9 2/6. Union Banks changed hands at £9 10/-, being on a par with last week’s market. E. S. and A. Banks were quiet but steady at £5 17/6. Some business was done in Bank of New South Wales’ shares at £32 10/- and £32 15/-. Nationals of New Zealand had buyers at 60/6, no sellers quoting below 62/6. Insurance Section. In the insurance section there was a steady inquiry for Nationals at 18/1, but no sales resulted. New Zealand s were done at 62/6, showing a slightly easier market. South British had sellers at 90/- and Standards were offered at 62/-. , , . „ The bright outlook for wool in Australia has sent the price of pastoral companies’ shares upwards. Goldsbrough Mort and Company’s shares had a large turnover at higher figures, sales being reported at 34/- to 34/6. A parcel of Wright, Stephenson’s preference shares was reported sold at 18/1. Buyers for Dalgety’s offered £8 In woollen companies’ shares Kaiapois (contributing) brought 6/3 and the ordinary issue 15/9, these prices being cum. dividend, payable yesterday. Oamaru Woollens are firm at 21/6, buyers offering 20/6 for further lots. Shipping companies’ shares were represented in the sales list by Union Steam (pref.), which sold at 26/3 and 26/6. . . . There was a little more activity in the .frozen meat section, several sales of New Zealand Refrigerating Company s shares being reported. The contributing issue brought 8/11, 9/- and 9/2 and the fully paids 19/6 and later 19/4 and 19/2. , v ■ In the mining group, the business done was confined to very few companies’ shares. There was a large turnover in electrolytic zincs, both ordinary and preference shares, at higher prices. The ordinary issue sold at 41/9 to 42/3 and the preference issue at 43/6 to 44/3. Mount Morgans were extensively dealt in. The market for the greater part of the week was steady at about 13/-, later easing a little to 12/8 and 12/9. Mount Lyells recovered some of the ground lost recently, the latest sales being at 29/5 and 29/6. Waihi Investments eased a little, selling at 10/6 and 10/-. Skippers Ltd. sold at 4d more, being procurable at the . same price. Gillespie’s Beach, cum. dividend, sold at 1/6 and 1/7. King Solomons had sellers at 1/1, but no buyers. Miscellaneous Shares. In the general section, the Australian Glass Company’s shares had business reported at 94/3, showing a firmer market. G. J. Coles Ltd. had a large number of transactions put through. The market early in the week was 80/9 to 81/-, later advancing to 82/- and 82/6. Woolworths (Sydney) were done at £5 8/6 and £5 9/6 and Woolworths (New Zealand) brought £5 1/6 and £5 1/9. British Tobaccos were active and firmer at 42/4 and 42/6, this price being cum. dividend, payable on September 30. Broken Hill Proprietary were again the means of big business. Sales during the week ranged from 78/6 to 78/9, later easing to 77/6. The same company’s contributing shares were transferred at 56/6 and 57/3. Dunlop Rubbers were fairly active, but with an easier market, business being reported at 18/1. Selfridges (Aust.) moved up to 27/5 and 28/-, a rise of about 2/- a share since last week. New Zealand Breweries failed to hold last week’s price, the latest sales being at 52/3. Tooth’s Brewery also came back in price with sales at 55/8 and 55/9. Dominion Brewery brought 31/6 and sales were reported in Staples at 35/3. . r Colonial Sugars have been quiet for some time, but during the last few days some business was done in this line at £43 5/- and £43 10/-. Hume Pipe (Australia) remain practically unchanged, being placed at 19/7, 19/8 and 19/9. Dominion Fertilizers were placed at 24/3, more being wanted at 24/-. Wilson’s Cements are fractionately stronger at 36/3. New Zealand Guarantees are very firm at 5/7 and 5/9. This company has just declared a final dividend of 2d for the year ended August 31, 1936.

COMMONWEALTH BANK HIGHER NET PROFITS. The Commonwealth Bank of Australia reports a profit of £681,483 for the half-year ended June 30, compared with £638,981 for the previous halfyear and £623,807 for the corresponding half-year of 1935. The profit of the general banking department was £205,497, compared with £214,089 six months previously and £210,872 a year previously. Half of the profit goes to the reserve fund of the department and half to the national debt sinking fund. The profit of the rural credits department was £23,423, against £21,735 for the previous halfyear and £24,267 for the corresponding half-year of 1935. Half of the profit goes to the reserve fund of the department and half to the development fund. The profit of the note issue department was £452,563, compared with £403,157 six months previously and £388,668 a year previously. The whole of the profit of this department goes to the Commonwealth Treasury.