DOMINION STOCK EXCHANGES

Southland Times, Issue 23141, 6 March 1937, Page 4

DOMINION STOCK EXCHANGES

Much Business During The Wee<. FURTHER FALL IN METAL SHARES A considerable amount of business was transacted on the stock exchanges of the Dominion during the week, although conditions were not quite so active as they were during the previous period. There has been a further fall in the price of some of the metal companies’ shares and one or two of the leading industrial companies’ shares also suffered a slight setback. There was no activity in the market for Government securities, but prices remain very steady. Government inscribed stock, with currency to 1939-43, found a fairly ready sale at £lOl 10/-. The 4 per cent issues of bonds and stock were reported sold at prices on a par with those ruling last week. There was a moderate turnover in the banking section. Bank of New Zealands had a number of sales reported. The market for this bank’s shares fell back to 42/9 and 42/6, although there was business done early in the week at 43/3 and 43/6. Commercials of Australia remain unchanged. Several parcels of this bank’s shares changed hands at 19/4. Commercials of Australia preference issue moved up a few points, selling at £9 4/6 and £9 5/.-. Bank of New South Wales shared were done at £36 10/ —the same price as they brought last week. E. S. and A. Banks were quiet, but firmer, at £6 9/-. Nationals of New Zealand at 62/- show no change in price compared with a week ago. Union Banks brought £ll 2/- an 3 later business was done at £ll.

The insurance section was inclined to be quiet. Nationals had a sale reported at 18/-, showing a steady market. New Zealands changed hands at 61/- and 61/3. South British came back a shade, being transferred at 97/-. Standards had buyers at 57/6, sellers asking 58/6. More Inquiry . For Pastorals

There was more inquiry this week for pastoral companies’ shares. Goldsbrough Morts had several transactions reported’ at 37/9, showing little or no change 'compared with last week. Dalgety and Company’s scrip brought £lO 10/6 and £lO 9/6, a fall in price of 4/- to 5/- a share during the last fortnight New Zealand Loan and Mercantile stock was reported sold at £44 and £45, showing a firm tone. More business was transacted in the frozen meat section. The New Zealand Refrigerating contributing issue brought 8/6 and 8/7, several sales being reported. The fully paid issue was done at 18/9 and there was also business reported in this company’s debentures, maturing 1940-45 and bearing interest at 4i per cent at £lOl 12/6. Southland Frozen Meats were placed at 75/9, more being procurable at 76/-. In the shipping section Burns Philp moved up sharply to 80/6, several sales being reported at that price. P. and O. deferred stock changed hands ai 41/-, buyers offering 40/- for further lots. There was a firm inquiry for Union Steam Ship preference shares at 26/-. Woollen companies’ shares were not extensively dealt in. Mosgiels were reported sold at £lO, more being asked for at the same figure. Kaiapoi Woollens (ordinary, 17/- paid) are a shade firmer at 14/2. The bulk of the business in the mining section was done in Lyells, Mount Morgans, and Electrolytic Zincs. The market for Mount Lyells was a particularly active one, big business being done in the early part of the week at 53/3 to 53/9. The price eased a little to 52/9 and 52/6, but recovered towards the end to sell at 53/- and 53/3. Mount Morgans fluctuated in price a little during the week, sales to 19/being reported at one stage; later the market was easier at 18/8 to 18/6. Electrolytic Zincs (ordinary issue) had a wide range of sales at 62/6 to 63/3, and the preference shares were also very active at 63/- to 64/6. Martha Gold Mining brought 19/9, showing a slightly easier market. Waihi Investments were not active, but were much firmer in price at 14/9. Okaritos were done at 3/4, later moving up to 3/9. Waimumus are unchanged at lltd. Gillespie’s Beach were transferred several times at 1/SJ. Miscellaneous Lines Some lines in the miscellaneous section were heavily traded in, notably Dunlop Rubbers, Broken Hill Proprietary and G. J. Coles Ltd. Woolworths (Sydney) also came in for a good deal of attention. Dunlop Rubbers moved up to 20/5 on receipt of the dividend announcement, and later the market touched 20/9 and 20/10. During the last few days, however, the bulk of the business was done at 20/4 down to 20/1. Broken Hill Proprietary, while not touching last week’s peak price of 91/-, are steady at 88/6- to 88/9. A big number of sales was reported of this company’s shares. G. J. Coles Ltd. began the week with the market at £5 11/3 to £5 11/9; business later was done in this line at £5 8/6 to £5 9/-. Australian Glass remained steady for the greater part of the week at 93/6; latest sales, however, were made at 92/6. British Tobaccos show a firmer tone being placed several times at 53/3 and 53/4. Colonial Sugars show little or no change; business was reported at £42 15/- to £43. Selfridge’s (Australia) moved up to 39/9 and 40/- and there was business reported m Selfridge s (NZ) 4/- paid, at 4/6. Woolworths (Sydney) show a sharp decline in price, the market coming back from £8 10/6 to £8 5/- and later to £8 2/6. Hume Pipe at 21/2 are on a par with last week’s market. _ New Zealand Breweries, while not auite up to last week’s price, are finn at 59/6 to 59/9. Toohey’s Breweries were reported sold at 37/6 and 37/8. This company is issuing a further 250 000 shares in the proportion of one share for every six held at a premium of 8/- a share. Tooth’s Breweries brought 57/- and later 56/9, showing a slight drop compared with last week s market. A sale of Dominion Breweries was reported at 38/6. New Zealand Drugs are firmer at Til-. New Zealand Guarantee Corporation remain verv steady at 5/6 Dominion Fertilizers sold at 23/9, 23/10 and 23/11, and New Zealand Farmers’ Fertilizers brought 20/6 Westport Coals were placed at 24/1, and Kaitangata Coals are firmer at 23/9. G. J. COLES LTD. WELLINGTON, March 5 The directors of G. J. Coles, Limited, have declared an interim dividend on ordinary shares for the quarter ending March 31 at 9d a share. THE PRICE OF GOLD (Received March 5, 5.5 p.m.) LONDON, March 4. The price of gold is £7 2/4 an ounce.