THE SHARE MARKET.

Sun (Christchurch), Volume I, Issue 259, 5 December 1914, Page 12

THE SHARE MARKET.

The number of reported sales of investment stocks on the various blojpTc exchanges this week has been exceedingly small. The number of quotations has also declined, although buying and selling prices remain firm, with an upward tendency. A dividend of ]/- per share was paid by the Waihi Company on the Ist inst., which accounts for the decline in price. Mining share business has been almost at a standstill this week, and the business recorded has been the lowest since "the outbreak of war. I The greatest loan ever raised anywhere in one sum has recently been floated bv Britain —£3so,ooo,ooo, —and the stock is already quoted at a premium of 2/6. It is issued at 9.5, carries 3* per cent, interest, with a currency of 14 years, so that the original investor will receive about .£3 19/6 per cent, return on a basis of redemption at par. A feature of the loan is a guarantee by the Bank of England to lend 95 per cent, of the face value at r per cent, under bank rate, and the guarantee runs to 1918. Tha stock being issued nt 95 per cent, of face value, and the bank rate being 5 per cent., means that the investor can borrow all he has paid at a cost of 4 per cent. It simply means that the bank will come to the rescue of anybody who, by subscribing to the loan, may subsequently find himself in teniporarv financial straits. It speaks volumes for the credit and stability of the Empire that a war loan of such huge dimensions can be issued at such a low rate of interest BANKS. The reported sales in this section consisted of National Banks at £5 4/- (two parcels), and Bank of New Zealand (fullv paid) at £ls 10/-. The following are the latest quotations:— Buyers. Sellers. £ s. d. £ s ; -d. .National-Bank .. 5 3 0 5 4 0 Bank N.Zf 10 0 0 » Bank N.Z. (new) 15' 10 0 - Union Bank .. 52 . 0 0 52 10 0 . Th-ere was firm enquiry for Bank of New Zealand fully paid shares,, which have strengthened to £ls 10/-. GAS.A sale of Christdiurch Gas was reported from Wellington at £7 2/6, and Wellington Gas at £l6 2/6. INSURANCE. ''■ Sales in this section are in regular- demand, und in some instances the difference between toiyers and sellers is small. The latest quotations are as-follow: Buyers. Sellers. £ s. d. £ s. <l. New Zealand . . 5 16 0 5 18 0 South British ..4 1 0 4 5 C Nationul .... 276 Standard .. .. The only sale reported in this section was* a line of New Zealand at £5 16/-. SHIPPING. Several sales were advised of Union Steams ordinary shares M 22/3. 22/6. and 21/11. Investors were evidently disappointed at the dividend of 5 per cent, per annum on ordinary shares, as upon the declaration of the dividend sale prices declined, from 22/6 to 21/11. Buyers of this issue are now quoting—Buyers- 21/9, sellers 21/ li. Buyers of preference issue are now offering 20/: i COAL. A sale of Westports at 30/6 was the only business recorded. Taupiris are under offer at 17/3, with buyers at 16/-. Buyers of Westports are offering 29/9, with sellers at ,30/-. of Stocktons are quoting .4/6 without sellers. ■'-.'".. / MISCELLANEOUS. The only sale reported under this heading is Milburn Limes at 30/-. Buyers predominate in this section, as the following offers show:— £* s. d. Taranaki Oils .. ■ .'. .. 0 -3 0 Kaiapoi preference and ordinary shares .5 0 9 Alosgiel Woollens .. . t . .. 3 9 8 " Whiteombes .. ... ...."., mm . 5 12 0, N.Z. Farmers' Co-op. ..» .. g- 3 .6 All without selling quotations. -• t MINING. Wailii:' Early in the w»»k a sale was reported at £1 16/-, ex dividend, but prices declined to £1 15/3 and £1 .15/6. La.te.st quotations are—Buyers 35/6, sellers 36/-. . Grand Junctions: These shares have declined slighv'y, sf-Jss beeti, reported ' at 24/3, 23/9, and*23/11, while present quotations '■■■: TaUsman: Only, .one tsalfitliiis been advised Prices' 'SecHiie'd 7 . this week from buyers at 29/3 and sellers at>3o/- to buvers at 27/9 and sellers at 28/9. '■- .*;' Ross: No sales have been reported, biikt buyers are offering 1/-, sellers 1/3.- . ;