SHARE MARKET

Press, Volume LXXI, Issue 21412, 2 March 1935, Page 10

SHARE MARKET

WEEKLY REVIEW L>i:n:.;; the last week the share r.-u-kw fr'i' the most part was dull -'-■>',; "n<'i:(-L-d dealing on the metro-■-..'.'i'.Tari <•ve;:;,! U ;cs showed a falling off . ~,,• I-;- ;'li >-i-r-;inns compared with ~', .",,,'■,.v'ouAvei'k. Government issues .",_.' ;•.,-.- !,,;• in other sections ol ,;.',.••.'■'■ ;'■",'• ■;><■■:: moved irregularly ',',-u '.';■,■" •••.■.\;-ral !'"i;d m favour of • : V„. ' : , j:,, _..■, i j •... :- ;, comparison ot .•, ,' ')• :■• n'c-ord' ri turnover on the j. ,'" '," ,•',','■!.;, t i, j: - ihe last fortnight. This week. Last week. 1511 919 " it:;!) 3393 ;vdn,;;;,y :: -*™ %i\ •■ ?# Hiß2 t;if).l-tl U-iU.OT'J ... . ~ ; <,.[-. ~, (••■ was made up as , ■ ■'*..' ' ivb.'»" h'vs C4()00. Banks ■' .7,'--'"' ~-, ■<■„■'■'■]' C--20 refrigerating J ::'";,.':!:;:,:,:; r llU l minints £2467 *-:''''" ' ' ~m"„..•""",.f -I'-e-es that changed ,: ' 1 ; ;; ,;.i, rtiim v.-:is:-BanUs r ':■'" ... ..(,' j- ; :;> loan and agency '■'y'„ ;.,;'.';.,.1i;.,,,,.,!, 2010. mining 24.700, Government Loas;s m, './ lowing were rec":"Jc'i: £ s. d.

:•: !•■<■• U " J 107 2 6 ~ •. !«,'■ 102 0 0 '■■''' ... ,: ';.''*V.i'(,'' ..102 0 0 4 i.e ■■"" '''. '■" ti) 102 10 0 . 102 7 6 , " ,( ''"' ' 102 15 0 ■ < ' - ] 505 10 0 ... .;. .r,,u . 103 10 0 '• 1" ' "■ " to 108 12 6 , „ <i,., in.V) . . 109 15 0 -.:„ ,!-;d li;i-.-b. >■■■■■ 4"> P'-l- « lU - de T • ,'..,,-,- (l ; (. I ' , -'V> changed hands at 'eV-ifi "i(.'■'■' ai'd Gi■-•borne Sheepl'armcrs, r< V, ... ',;.-,» HPI a 1 ClO3.

■. ; L ;m dividend. were ~,";',-";',• "i'li and £ll ss. C0m..;:,,,,i ,;' Austravia were fractionally ~'.,'. y .. : ,i iijs Id—the preference • ,'-, C r('."\",,.,'-,! Cfi'lOs. Commercial of Svii.\v''ir.w.i-d to AIIG 2s Cd and £lO ',\ 'y/ -.; a ',, f i a. were fairly steady ."»' <'i'li.; Od and £5. National of Aus-Vrai'a'-'a'. £•"> mud. were linn at £6 7< ' National of New Zealand eased to tw'. ',■•(! I"!.- Od. New South Wales, ,' m ' u'i-.-idi-'-d weakened to £3o—ex <i'v!dei.d busiiK-s was recorded at £•«, it. (;,; New Zealand were ~"h-r;,l 4i;s Cd to -IDs—the "D" Mort"ai'e" vnare:- recovered from 31s 9d to. y;!'" 'i;'--;rve Banks showed a firm;nt: :: '<<*> 10s and C'! 10s od. ln-urance una 1-o.m and Asjency A. t J -\ remained unaltered at 30s 6d; V-ji : r,'-r-'l declined t" 22s and 22s 3d: New Zealand recovered to 06s 6d and iY,'-. Siu-h British weakened to 94s 3d. S':-' , -';ard- cur;, dividend, had clealT,'. ~..•. ',".;.; and 725. Goldsbrough Th'''-" changed hands at 28s 3d and •ja-"7;l. Ni.w Zealand Guarantee Cor[•e'L'ta'.;< remained at Gs. United Euild- ..- S'K-ietv rs- to 22s 9d. United B.i.k;::- 'Suc'e'v 'Auckland* had hu'.'nr.---' :.'. il's :;-i. V/ritnYi. Siephen.■o;i and Ompviv ' nref. < were fractionary weaker af lO- lOcl. Shipoir:-. Meat. Coal and ( as ■■> a:: 1 : '■. 'i.-.ean stock changed W."r;; ;,t 'O.- ! "-iio!i Sicani, prel'er(•!,e..-. we: . stead; ;u 27s 3d. Gear .Meats we.", easier tit 21s (id. New Xeaiand Reirigcralhru, £1 paid, de-i-liiHd to 10s 3d—the 10s paid had dea'ie" at L's Id and 9s. Pukemiro Col!ieri'.s were weaker at 25s and 265. Rero.vn advanced to 8s Od. and the pr.vferei.ee to 2s 7rl. Steckton. preter,.!tri. v.-co a shade easier at 3s Bd. Auckland Has were steady at 27s Cd. Chn.-'church were firmer at 355. Wellinctoi! fprefere-icei had business at "20 Breweries :.cx /'-aland recovered from 49s 9d to 50s Od. Timaru '7s 6d paid) re'apseri to 8s 2d: Tooth's advanced from 47- 3d to 47s 9d. Miscellaneous ■i.is'jaiian Iron and Steel. preference, had business at 22s 3d; British Tobacco were firm at 37s 7d to 38s: Hroken Hill I'ropriettiry moved tip to s:s and sls 4d: B.vcrofts dropped to 50,; Od: Colonial Sugar were steady ;.'. iMO 10.-: Dominion Fertiliser fell tij 2).-; D.f.C. preference realised 25s Od; Dtmlop Rubber firmed from 18s Od to 18. ■ lid; Electrolytic Zinc ordinary had dealings at 21s fid and 21s lOd. and the- preference at 34s and 34s fid.

Farmers' Trading '2s paid> wore i'rac•■onally firmer at Is 4d. Hi!! and P-umrnor v.vre dealt in at 17s Gd. i't-.'iry Jones were easier at 355. Mauri Brc--.~ a:id Thompson realised 435. New Zealand Fanners' Co-operative 41 per

< .-lit St..ek. due 1045. was firm at £B2 'O.;. Nov/ Zealand Newspapers weakened to .'-545. \','!!'-o!i's Cement were (;<>i(l .'Milling'. Toe local turnover of 24.700 was j.'.aue up as follows:—Big River. 1400; IJiian Horn. a!;()0: Gillespie's Beach, :'.<><): Kildtiiv. 500: Gnldftelds Dredging, 2'Mi: Kin;' Solomon. 500: Maerewhenua. O'OOO: Mahakipawa. 2100; Maori Gullv. 400; Mossy Creek, 400; Mount J.veii. 000: Okarito. 200; Rav.v.n:.' Tin, 250: Skippers, 3800: Waihi. 450- Woi-k. up Extended, 300. Dili River were easier at prices ramm:-; from 2s 3d to 2s: Brian Bonis at 3'd'to 2'.d: Gillespie's Beach at Is • i'.ri ami 1 Gd: Guldiields Dredging at 7).-: and 7d: Mu.-sv Creek at 2s Id; Mo:m< Lyell at 17s 7d to 17s 3d: Mount Mnr-iai! at 3/)s: Skippers at 4 : ; ' d and :><■•: Tel:-man Dubbo at ils: Hawaii!,' Tin ai 7s Od to 7s 2;d. Km.iare wi-rc firm at 3s: King Solomon at 3s lid: Muerewhemia at l,d and 2d: Mahakipav.'a at 9kl. Did. and iOd; .Wkomai at 2s 3d: Maori Gully at 1- 4d, Grand Junction at 4s 9d and •*e 10 d \Va:h:s advanced irom 40s 9ri to 41s '•'!, Workr-oo to 2s lHd and 3s, and '■■.';. : 'ai:u X" 2s lOd. Okaritos. cum dividend, were than at 7s lid and 8s —ex diVi'it.r.d. 'hey eased to 7s 3d. ISTKHDAV'S TRANSACTIONS Thi•;'<■ was an increased turnover on rail ;.e.-teroay and business was well pread. Shipping company shares "•.ere- Transactions, exclusive ' '' vestibule bu.-ine.-s. wore:— Sales on 'Change £ s. d. J'.'O Com. Bank of A list. .. 0 10 1 50 E.. S . and A. Bank . . 5 0 6 10 Reserve Bank 6 10 6 COO N Z. Ret'ri-. COs pd.t <4i 0 0 0 100 Au.-t. Iron and Steel <rmei.) .. 12 3 100 Broken Hill Pty. .. 2 11 0 2 11 4 10 Colonial Sm.:ar <2> 40 10 0 I'WJ Limlop Perdriau Rul). 0 18 11 SOO Big River . o'j i 0 2 0 3000 Macrewlienua .. 0 0 2 •500 Mahakipawa .. 0 0 10 200 Mount Lyell .. 0 17 5 0 17 6 50 Okarito .. .. 0 7 3 50 Rawang Tin .. .. 0 7 2', , 50 Waihi .. .. 2 115"

Sales Reported 50 Standard Insurance .. 312 0 300 Gear Meat .. . • 1 £ ° 500 Big River .. •• ° l u * UNLISTED STOCKS Sale Reported 70 Woolworths (Sydney) cord.) 4 12 3 Banks and Insurance Commercial Bank of Australia were fractionally weaker at 16s Id, buyers staying in at that price, sellers at 16s 3d. English, Scottish, and Australian Banks were firmer at £5 0s Cd, market closing £4 19s buyers, £5 Is sellers. Reserve Banks firmed to £6 10s 6d. market closing 6d either way. Bit vers of Union Bank of Australia raised their bids to £8 12s 6d, sellers firm at £8 17s 6d. Standard Insurance cum dividend had business at 725. and late unsupported sellers wanted 745. Gear Meats were easier with sellers and business at 21s 6d, buyers at 21s. New Zealand Refrigerating 10s paid shares were firm at 9s, and more were wanted at 8s lid, sellers at 9s 2d. Buyers of Tooths Brewery shares raised their bids to 47s 9d. sellers at 48s. Australian Iron and Steel preference changed hands at 22s 3d, sellers staying in at that price, buyers at 225. Broken Hill Proprietary were firmer with dealings at 51s and 51s 4d, and further biivers at 51s 3d, sellers at 51s 4d. Colonial Sugars moved up to £4O 10s, buyers staving in at that price, sellers at £4O 15s. Dunlop Rubbers changed' hands at 18s lid and more were offered at 18s lOd, buyers at 18s 9d. Mining Big Rivers showed an easing tendency, with dealings at 2s and 2s o£d, and further sellers at 2s, buyers at Is 11.'.d. Maerewhenuas were a shade stronger at 2d, market closing liid buyers, 3d sellers. Mahakipawas were steady with sellers and business at lOd, buyers at 91d. Mount Lyells were fractionally firmer at 17s 5d and 17s 6d, and more were wanted at 17s Bd, sellers at 17s lOd. Okarito appeared easier wiih sellers and business at 7s 3d, buyers at 7s 2d. Rawang Tin were a shade easier with sellers and business

at 7s 2',d, buyers at 7s lid. Waihis advanced" to 41s sd. sellers staying in at that price, buyers at 41s 4d. Unlisted Stocks Woolworths (Sydney) ordinary had business at 92s 3d, and there were further sellers at that price, buyers at 91s 6'd. AUCKLAND | THE PRESS Bpeciil Sanrico.] AUCKLAND, March 1. Alihougn there was slow enquiry for most investment shares on the Auckland Stock Exchange this week, no serious weaknesses were revealed. An easier tone has marked operations for some weeks, but it is likely that this trend is more apparent than real. It is a reflection ol conditions overteas, especially in New South Wales, where there has been some pre-elec-tion uneasiness. Industrial shares already show signs of recovery, but banks have dropped fairly consistently. Even the centenary bonus on Bank of Australasia shares failed to rally that issue individually, or the banks market generally. The turnover for the week was below normal. Most business was done in banks, and New Zealands changed hands freely. Another active issue | was Waihis. which sold up to 41s 3d | on a very firm market. The company's I accounts will be available next month, I and considerable interest is being | shown, owing to the high price of j gold and the payment by the New Zealand Government of the Horahora debt of £212.500.

Government loans had better support, but trading was again restricted. Market values for practically all bank shares are below those ruling at this time last year, and no permanent recovery in levels is yet indicated. The decline in New Zealand Insurance was checked during the week, when sales were made at 06s 6d and 675, a rise of Is 3d. Recessions in levels during the last few weeks were reflected in sales in South British, 2s 9d lower at !J4s 3d. ' Loan and agency shares remain lifeless, and there is little prospect of improvement while the wool market is subject to further trade restriction. New Zealand breweries made a slight advance. Colonial Sugars were secured 10s lower at £4O 10s, but Sydney orders brought lite sale price back to £4O 15s.

In the mining market, Waihis opened on a sale Id higher at 40s 9d, and rose to 41s and later to 41s 3d, at which further supplies were unobtainable. Waihi Junctions were unchanged in dealing at 4s 9d. In the first business for two months, Blackwaters were secured Is lower at 31s 6d. DUNEDIN LTHE PRESS Special Sorvice.J DUNEDIN, March 1. The volume of business transacted on the Stock Exchange during the last week remained on a par with that recorded during the previous period, the transactions being fairly well distributed throughout the list. Bank of New South Wales shares were enquired for at £29 15s, ex dividend, but sellers would not accept less than £3l. Bank of New Zealands were on offer at £2 9s 6*d, buyers failing to come forward. Long-term "D" issue were dealt in at £1 lis, the market closing with a buyer at £1 lis 9d and no further sellers quoting. There was a slightly stronger demand for Reserve Banks, buyers offering £6 10s at the end of the period. Sellers, however, were not interested. Union Banks were subject to business at £8 12s 6d, a final seller at £8 14s failing to attract buyers.

P. and O. deferred stocks were dealt in at £l, the latest quotation being 19s. Union Steam preference shares were on offer at £1 7s 6d, but buyers did not show any interest. Paid-up New Zealand Refrigeratings sold at 19s 3d, buyers' closing offer remaining at the same figure, while sellers required 19s 6d. The contributing issue were also dealt in at 9s. a closing seller at 9s Id failing to elicit any response from buyers. •Southland Frozen Meat paid-up shares were offered for sale at £3 18s, ex dividend, buyers not being interested. Contributing issue were also on offer at 9s Id, without any buyers coming forward. Goldsbrough. Morts were on offer at £1 8s Od without buyers coming forward. There was a slightly easier market for Wright, Stephenson and Company's preference snares, buyers offering 19s Bd, while sellers required £l.

Pukemiro Collieries were reported to have been dealt in at £1 6s. No quotations for these shares were received on 'change. Westports were the subject of business at £1 Is 6d, the market closing with a seller at £1 Is 9d, and no further buyers offering. Business was also done in West-port-Stockton preference shares at 3s Bd, buyers' closing offer being 3s 4d. British Tobacco changed hands at £1 18s, market closing with a seller at the same figure and no buyers forward. Buyers of Broken Hill Proprietaries were prepared to give an improved price of £2 lis, but sellers were reticent. D.I.C. preference shares were disposed of at £1 5s 6d, sellers' final quotation being £1 6s. For Dominion Fertiliser debentures buyers offered a firmer price of £lO5,

but sellers did not come forward. Dominion Rubbers also met with a-bet-ter enquiry, buyers being prepared to give £1 10s 9d. Sellers, however, did not respond. Dunlop Rubbers sold at 18s Bd, a final buyer at 18s 9d failing to attract sellers.

Buyers of New Zealand Drugs offered £3 19s. Sellers remained unchanged at £4. Wilson's Cements were enquired for at £1 13s 6d without sellers showing any interest. Several parcels of Woolworths (Sydney) shares changed hands at prices ranging from £4 lis 9d to £4 12s 6d, the closing buying and selling quotations being £4 12s and £4 12s 3d respectively. There was an improvement in the market for New Zealand Breweries, buyers offering £2 10s in response to sellers' request for £2 10s 9d. Business at £2 9s 9d was recorded.

Gillespie's Beach shares were dealt in at Is 6id, the market closing with a seller at the same figure, no buyers coming forward. Clutha Rivers were enquired for at Is 9d without sellers showing any interest. Big Rivers met with an easier market, the selling quotation of 2s 3d being passed by buyers. Nokomais changed hands at 2s 3d, closing buying and selling quotations being 2s and 2s 6d respectively. Okaritos were offered for sale at 7s Bd, ex dividend, but buyers were not interested. A sale at 8s was recorded earlier in the period. Waitahus met with a firmer demand, buyers offering 2s 6d. A transaction at 2s lOd was recorded. There was a steady demand for Government loans. A parcel of 3? per cent, stock, 1941, was disposed of at £lO2, and 1939-43 issue of the 3£per cent, stock sold at £lO7 2s 6d.