Financial News

Auckland Star, Volume LXXIII, Issue 174, 25 July 1942, Page 3

Financial News

WEEK REVIEWED HEALTHY SHAREMARKET STATE LOANS IN DEMAND Further hardening in values took place on the Auckland sharemarket this week, - and there was a sizable turnover, chieflv in banks. Dominion issues and gilt-edged lines. Confidence continues to be the keynote in overseas markets, and within the Dominion pressure of funds seeking a profitable outlet plus a lack of response on the part of holders have buttressed the demand for good investments. At times there was little flexibility in the market, and several issues "froze" with only a penny or two between buyer and seller. Undoubtedly a feature of the week has been the spreading demand for Govern- ' ment loans, accentuated by shortage of supplies. Several of the more popular 4 per cents have recovered from recent weakness, and the war loans have attracted particular attention. For instance, the 3 per cent War Loan 1951-54, which had initial business last September at £97, rose 15/ to reach par, returning a yield of £3 2/6. Half-yearly interest on this issue is payable on August 1. Liberty Loan, bearing the same rate of interest, also enjoyed sharp inquiry, and sold at £99 yesterday. With few sellers operating, banks preserved a strong appearance and levels for New Zealands were higher than for some weeks. Leading insurances were steady, but showed a firmer trend towards the close. Lack of information concerning the Commonwealth profits limitation scheme caused some slackening in interest in Australian securities, and the only business written in this section was in Broken Hill Proprietaries and Sydnev Wool worths. Offers for the latter "were reduced and G. J. Coles were not quoted following adverse reports from these companies in connection with the profits plan. Bids were stepped up in the case of several Dominion shares, and it was noteworthy that preference issues returned to favour. Woollens were in keener demand, as well as other prominent industrials Breweries were dull and unchanged and Auckland Gas were slightly easier, market V3S !lttl ? interest ln the mining LATEST SALES Sales since last review are:—• Banks.—N.Z., £1 18/, £1 18 3- NZ D UTort ITiR- 1 !, 10 ,' 1 N 'f, £28 107 : National , Union, £6 17/6; National of Australasia, (5); South British. a * * 18/3 (2); National. 19/3, 19 6 (2) Austrahanand Overseas.—Broken Hill Prop.. £■> , . • Woolworths (Syd.), 14/10 (3) Dominion.—-Northern Steam <pd.). 4 8: Northern Steam (con ). 9d; Radio (1936), 11'; Woo°worths oref V £ ii*l- ,1V 1 J 2) - w °olnorths (N.Z.) w-cfrSif i* Westport-Stockton <ord.). ni winip (Pref.). 83; Farmers' Trad--1I" i?\. i 2 )' F a rmers Trading (A pref.), £1 3.9 (3), Farmers Trading (B pref.), £1 2 9" s'f-' i? 1 13 6: MK - Manufacturers. CrL n rt n ta ', !8 ' (2): Robinson Ice uream £1 26, Dominion Breweries. £1 6/ (2)* kT k J ln i ey ( ,/ prpf ) ' £1 2 ' »: Auckland oas. 6 3, N.Z. Fertiliser, 16 9. Loans and Debentures.—Stock, 1946-49 4 ripr cent, £103 76. £103 10'; Stock, 1946-48 3 Ser Stock. 1957-60. 3 j 4 per cent £101 4* 1952 - 55 ' , 4 cent. £106; Bonds, 1 i^ per cent - £103 12 6; War Loan !. ! i-i£ 12 6 War L °an. 1951-54. 3 per /no* */*, L,be rty Loan. 1952-55. 3 per cent *•«/• a £ i 9?' Booth Macdonald. 1947. 5 per per cent, £106 lis/? Harb ° Ur B ° ard ' 9 7/56 ' 4 '< trexd op market The following table indicates the fluctuations in the values of various securities' banks July 25. July 17. July 24. 1941 1942 1942 Commercial 14 8 £ 14 i £ »i* 7 National, N.Z 117 9 «1 17 b «1 17 o New South Wales . 29 0 0 28 10 0 28 10 0 New Zealand 118 9 118 0 *1 18 6 MISCELLANEOUS N.Z. Insurance 346 Sue ipe South British .... 213 9 218 0 218 3 Broken Hiil Ptyi'!! 22 9 *1 15 6 *1 15 6 Bycrofts 2 4 0 .2 2 6 -2 3 0 Mt. Lyell 176 *1 40 *1 4 n Auckland Gas 6 4 *6 11 « -> Farmers' Trading .113 *19 0 19 1 Dom. Breweries .. 18 9 »1 fin 1 k n o Z J B Coie rleS • \ U , 3 1" ° U0 0 Wilsons Cement"l 9 0 " 2 16 9 >16 10 -• 55 0 0 *" 10 0 S 13 10 14 3 14 2 Sydney 17 4 tls 0 »14 6 GOVERNMENT STOCK 106 0 0 *105 15 0 106 0 0 102 15 0 101 10 0 *101 5 0 ;.r J 10° I 7 6 101 5 0 *102 0 0 War Loan, 1853 .. 87 7 6 90 12 6 SO 12 6 * Buyers, t Sellers. SALES COMPLETED _ , S ®' e o s completed on the Auckland Stock Exchange at the 3 p.m. call yesterday were:—South British Insurance £2 18/3; Woolworths (N.Z.). 14/2 (14. 1), War Loan, 1/10/53, £90 12/6* Libertv Loan 15/9/52-55, 3 p.c. (2). £99. Last sale price in parentheses where changed.