SEVERAL LINES WEAKER

Southland Times, Issue 23332, 16 October 1937, Page 4

SEVERAL LINES WEAKER

Stock Exchanges Of New Zealand LITTLE IMPROVEMENT IN BANKING SHARES Trading was quiet on the stock exchanges of New Zealand during , the week, and the market for some lines, particularly metal concerns, is decidedly weaker. The gilt-edged issues were the one line of investment which held their prices, but the turnover in this section was a very small one. Four per cent, bonds and stocks were the only lines dealt in, sales of the 1946 line being made at £lO3 and of the 1955 issue at £lO5. Banking shares failed to show any notable improvement. New Zealands went unchanged throughout the week at 44/-, showing a slightly easier market. The same bank’s long term D scares had a sale at 29/3. Commercials of Australia are fractionally easier at 17/-. Union Banks brought £9 10/and £9 11/-, showing no change in price since last week. Bank of New South Wales shares improved a little on last week’s low figure, with sales at £33 and £33 2/6. Nationals of New Zealand were asked for at 57/-, with sellers at 59/6. A sale of Nationals of Australasia, contributing, was reported at £7l/-. Insurance companies’ shares remained steady througout the week. Nationals were placed at 18/-. New Zealand Insurances brought 64/3 and 64/4. The market for South British was 95/- to 95/6. A sale of Standards was made at the higher figure of 60/-. . In the pastoral section some business was done in Goldsbrough Morts at 33/9 and 33/10, these prices showing an easier market. Dalgety and Company s shares had sellers at £lO 1/-. Wright, Stephenson and Company s preference issue were asked for at 20/3, no sellers quoting below 21/3. New Zealand Loan and Mercantile stock has fallen m business being done in this line at FROZEN MEAT SECTION The frozen meat section was quiet. A few sales were reported of New Zealand Refrigerating contributing shares at 9/11. Buyers for the same company s fully paid shares quoted 20/6. Gear Meats had a sale at 18/6. Shipping companies’ shares were not in much demand. Some business was done in Union Steam Ship preference scrip at 26/6. Burns Philps were also represented in the sales list, a parcel of this company’s shares changing hands at 57/6. . , 11 There was nothing m the woollen companies group to report on during the week. . + . There was a fair turnover in tne mining section, but the market all round is a weaker one. A number ot sales was reported in Mount Lyells. The market for this company s shares is a weaker one, business being re " ported at 39/- down to 37/6. Mount Morgaps, ex dividend of 4Jd a share since Monday, were sold at 10/1 to 9/6. Broken Hill South brought 40/to 40/3 early in the week. Later there was an easier tendency, with sales going through at 38/6 and 39/—. North Broken Hill were quiet at 59/6. ITiere was an easier tone for Electrolytic Zincs. The ordinary issue was sold down to 50/9 and the preference shares sold at 54/6 to 53/6. Waihi Investments were quiet and easier at 10/9. Business was done in Rawang Tinfields at the lower figure of 10/9. There was no activity shown in shares of the lower priced mining company. BROKEN HILL SHARES In the general section there was a considerable turnover in Broken Hill Proprietary Company’s shares. Tire market is a weaker one with sales from 76/6 down to 75/3. G. J. Coles Ltd. also had a fair range of sales, but at lower prices, the market falling from 93/- to 90/9 during the week. There was little or no change in the market for shares in Hume Pipe (Australia) Ltd., business being done at 19/11 and 20/-. Dunlop Rubbers were placed at 21/10 to 22/2, showing a market on a par with that ruling last week-end. A few parcels of shares in Shillings Ltd. changed hands at 18/9, these showing an unchanged market. The quotation for Wilsons Cements showed sellers at 20/6, and no buyers coming forward. Australian Glass were done at 91/- and later at 90/-, showing an easier tone. A sale of New Zealand Drug Company’s shares was reported at 75/-, showing a rise of 1/6 a share since last week. A parcel of Westport Coals changed hands at 25/6, buyers for further lots offering 25/-. A sale was reported of McLeod Bros. Soap at £27. British Tobaccos are easier at 47/10, more being procurable at 48/6. Woolworths (New Zealand) were transferred early in the week at £5 and £5 1/-. Later the market eased to £4 18/6 and £4 19/6. Woolworths, Sydney, remained fairly steady throughout the week at 29/6 to 30/-. The shares of McKenzie’s Department Stores were offered at 87/6 during the week without attracting sellers. Business was quiet in Taranaki Oils but there was a number of transactions put through at 6/11 to 7/3. _ ( The market for brewery companies shares was not an active one. A few sales of New Zealand Breweries were reported at 49/6. Tooths Breweries were quiet and easier at 54/6 and 55/-. A sale of Dominion Breweries was reported at 40/6.

DIVIDENDS DUE Woolworths (N.Z.) 4>/ 2 p.c. mak- yesterday (pref., final) ing 9 p.c. for year Burns Philp 7d a share yesterday (South Sea) (interim, half yearly) N.Z. Guarantee 2d a share Oct. 26 Corporation (final) South British Insurance 1/5 a share Oct. 28 (final) making 2/9 for the year Martha Gold Mining 1/- a share Nov. 2 (interim) free of Brit. income tax Broken Hill Propty. 1/3 a share Nov. 17 (half yearly) NATIONAL BANK OF AUSTRALASIA (United Press Association) WELLINGTON, October 15. The National Bank of Australasia has decided to pay on November 24 an interim dividend on both classes of shares for the half-year ended September 30 at the rate of six per cent a year. BANK~OF N.Z. WELLINGTON, October 16. The directors of the Bank of New Zealand have declared an interim dividend of 1/- a share (ordinary) and 3| per cent, (long term mortgage), both being payable on December 11.