Financial News

Auckland Star, Volume LXXIII, Issue 168, 18 July 1942, Page 3

Financial News

WEEK REVIEWED I 1 j SHARE TREND UPWARD i • { BETTER SUPPORT FOR BANKS 1 ■ ' i Activity on the Auckland sharemarket ■ this week has been greater than for a i long time and apart from Australian i issues, where an irregular tone has de- ] veloped, the general trend of values con- i tinues upward. In this regard the market j appears to be closely following the be- ] haviour of overseas exchanges. 1 More funds have been available for ; investment in recent weeks, but, as has j been pointed out by a prominent member • of the farming community, there are still large sums lying in the banks which • could be directly employed in the war ' effort. The scope of share investment, of course, is considerably restricted by the diminution in wartime of new capital issues plus the uncertain prospects of many trading concerns. Despite this, the i demand for all good investments has been much stronger lately and there is a big army of unsatisfied prospective buyers. Banking scrip met with keener inquiry this week and supplies were scarce. Levels improved for most issues, but the few < sellers fixed wide reserves. Insurances were somewhat irregular. The leaders reacted after the recent rise. Nationals were firmer in the continued absence of sellers, and other lines were mostly steady. There was some precautionary marking 1 down of Australian leaders on advice that the Federal Government is proceeding with its profits limitation plan. Retail j stores were affected most, and it seems , that investors and their advisers are i judging each case on its merits, for it is clear that the new order will bear much more heavily on some companies than others unless the proposals are modified. Dominion shares had a busier week than for some time, with a number of counters on a firmer basis. Sellers were fewer in the Government loan market and levels were steady, with stronger support for some of the longer-dated issues. Liberty Loan 3 per cent sold at £98 2/6, a rise of 12/G on the opening sale some three weeks ago. LATEST SALES Sales since last review are:— Banks.—National A'asia (pd.), £11 (3): N.Z., £1 18' (5); N.S.W., £28 10/ (odd lot). £28 10'. Insurance. —South British, £2 18 6, £2 18/; N.Z. Insurance. £ 3 8 6. Australian and Overseas. —Electrolytic Zinc. £2 o'6. £2 1'; G. J. Coles, £2 8 6: Woolworths (Syd.). 15 3; Broken Hill Prop., £1 15 6 (2); Colonial Sugar, £47 10/ (2); Swan Brewery, 19 7 1 j: British Tobacco, £2; Kauri Timber, £1 1/ (2). Dominion.—Westport-Stockton (ord.). 3/ (2); Farmers' Auctioneering (B. pref.). £1 2 3: Reid Rubber, £1 2/; Reid Rubber (new issue), £1 16; Auckland Gas, 6 5: Wilsons Cement, 16 9 (3): Northern Steam (pd). 4,7, 48: Berlei (N.Z.). £3 7 6 (ex. div.) (2); Macky Logan, £1 36: Woolworths (N.Z.). 14/. 14 2, 14/3 (2): Newton King (pref ), 12 9; Bruce Woollen (ord.). £1 4 ; Bruce Woollen (pref ). £1 3': N.Z. Breweries. £1 10 ; North Auckland Farmers' (8 pd.). 6d: Kaiapoi Woollen (con.), 7,6; Radio (1936), 11/. Loans and Debentures.—Stock. 1943-46, 4 per cent, £101 10/: Stock, 1949-52. 4 per cent. £104 10 Stock. 1946-49. 4 per cent. £103 7/6; Liberty Loan. 1952-55. 3 per cent. £98 2'6; War Loan, 1951-54. 3 per cent. £99 5/ (2); War Loan, 110'53. £90 12 6; Waitemata E.P.8., 1/12. 64, 4 1 4 per cent, £109 10'. Mining.—Placer Development, £1 18'3. Unofficial.—Wfcakatane Paper, 3/ (odd lot); Electric Products, £1. TREND OP MARKET The following table indicates the fluctuations in the values of various securities:— BANKS July 18. July 10. July 17. 1941 1942 1942 £sd £ s d £sd Commercial 14 6 14 6 14 6 National N.Z. ... 115 6 *1 17 0 *1 17 6 New South Wales . 28 10 0 *27 15 0 28 10 0 New Zealand 1 18 0 1 18 0 1 18 0 MISCELLANEOUS N.Z. Insurance 356 3 10 0 386 South British ... 213 6 *2 17 0 218 0 A.C.I 2 9 0 *2 1 0 *2 1 0 Broken Hill Pty. .. 240 1 15 6 1 15 6 Bycrofts 2 4 0 *2 2 6 *2 2 6 Mt. Lyell 180 *14 0 *14 0 Auckland Gas ... 6 0 6 5 t*6 0 Farmers' Trading .110 19 0 *19 0 Dom. Breweries 186 *1 59 *1 60 N.Z. Breweries ... 112 6 *1 9 3 110 0 G. J. Coles 323 286 *2 70 Wilsons Cement 18 9 16 9 16 9 Colonial Sugar 54 10 0 47 10 0 *47 10 0 Woolworths— N.Z 13 8 14 0 14 3 Sydney 17 3 15 3 tls 0 GOVERNMENT STOCK 1952-55 105 5 0 105 15 0 *105 15 0 1943-46 102 12 6 101 10 0 101 10 0 1953-57 {100 10 0 103 5 0 tlOl 5 0 War Loan, 1/10/53 . 86 0 0 0 0 90 12 6 • Buyers, t Sellers. t Ex. interest or dividend. SALES COMPLETED Sales completed on the Auckland Stock Exchange at the 3 p.m. call yesterday:—Bank of N.Z.. £1 18/: Bank of N.Z. (D. mort.), £1 10/ (£1 9 9); Bank of N.S.W., £28 10 : N.Z. Insurance, £3 8/6; Northern Steam (paid), 4 8* Northern Steam (con), 9d; Radio (1936). 11Woohvorth N.Z. (pref.), £1 15/6 (£1 15/); Stock 15 4 46-49. 4 per cent. £103 7,6. Last sale price in parentheses where changed.