STOCKS AND SHARES

Wanganui Chronicle, Volume 83, Issue 287, 5 December 1939, Page 3

STOCKS AND SHARES

QUIETER PERIOD LAST WEEK BALTIC WAR HAS ADVERSE EFFECT Greater hesitancy was evident in the investment market on the Auckland Stock Exchange at the close of business last week. The pace throughout was much slower than that which marked recent operations, and in some instances prices tended to shade in the absence of buying support. Developments in the Baltic had an adverse effect generally, while reports of a political crisis in the Commonwealth, together with the announcement of a heavy reduction in

Australia’s foreign imports, caused j further buyers to withdraw. While a reduction of foreign and Canadian imports is likely to affect some Australian holdings, investors have not lost sight of the opportunity created for increased internal activity, to meet which Australian industry is now especially well equipped. The political development is regarded much more anxiously. 1 Steady Demand for Loans While there was a steady demand for New Zealand loans, few supplies i were quoted during the week. Dealing was at steady levels and mainly jin 1940-43’s. Local body loans were i very firm, and offerings readily marI Retable. Following is a comparison of I he, I levels ruling a year ago for a selected [ number of Government loans, com- ■ I pared with those oj last week:— Dec. 2, Dec. 2, 1938. 1939. 53-57,3 93U 92it Ditto, 15-4/46-49, 4 ... ... 981 981 Ditto. 15 6/52-55, 4 . ..... 981 98+ +Buyers. tSellers. In banks. New Zealands lived up to the reputation for fluctuation which they have achieved in recent years, and sold down to 39s 9d, after having reached their peak of the year at 41s 9d (cum dividend) a fortnight ago. On the other hand, Nationals of New Zealand made a strong forward move to 45s 3d. Australian issues were fairly steady. Rise in Insurance ■ The feature of insurances was the j | lifting of New Zealands to the year’s I ; best point at 60s, against 59s last I week. South British have steadied at 47s 6d. Interest continued in a number of New Zealand industrials, coal shares being more prominent. Auckland Gas made further ground, to close at 16s lOd, while woollens and breweries I were moderately active. . There was a falling off in turnover [ I in the leading Australian industrials. several of which closed without sup-’ • port. Broken Hills cased a shade, and j 1 Colonial Sugars fell slightly from, 'their peak, while Coles remained | > steady. Woolworths (Sydney) were) | quiet at slightly easier levels, but the ! New Zealand company's shares weakened substantially. i