STOCKS AND SHARES

Evening Post, Volume CIX, Issue 44, 21 February 1930, Page 12

STOCKS AND SHARES

li SALES OF THE WEEK

MARKET'S FIRMER TONE

: "Evening Post," 21st February. Confidence in the future value of banl;

and similar shares is evident iv the turnover on all exchanges for the past week

Jiilf there are plenty of sellers it is also ;'!; correct to say that there are discerning ;''buyer.! ready, to do business. Prices are ;Jrathcr irregular for bank and insurance '^•shares, and for interests in some industrial ;;'! enterprises, but the market continues : if airly active, although at prices well below ;l those.ruling before the depression spread (illover the markets of Australia and New: v ) Zealand.' Buying orders from, this country "■■<'< have given Melbourne and Sydney brokers [j plenty to do, so. that unless holders in ::; the Dominion are compelled to sell it seem -w'-er to hold on to their .; shares until the depression passes. lhe V recovery'in values may not be soon, but fiin so far as the banks are concerned they "■•are acting with more than their ordinary i' caution in anticipation of a difficult period i!of adjustment, in Australia and to a lesser 1-' degree in New Zealand. Gilt-edged in- ■' vestments ; such as Government loans ••■at'present prices generally', yield but little 'iover the rstes. of interest paid, and at -?current prices bank shares pay from ap,l,'proxiinately 5 per cent, to 0 per cent, on •••imarj.et prices. . '• SalfS.of Government stocks, and bonds 'sduring the week have been, on a moderate; ' '^ scale as-follows:. 5% per cent. Stock (IEMI)_, V'£9o 15s: 5% per cent. Stock (1933), £9/ ■ il2s 6d- 5Ya per cent. Bonds (1933), £99 us; .■'US% per cent. Stock (1933), £99; SK per ,■ Scent. Stock (1036), £99, £99. as. '■■ Local body* debentures have also been in; 'demand. For 6 per cent. Hamilton Borv'ough '£100 was offered, with no sellers. ; Buyers, of 4Vi per cent. Wellington Har-■-bour Board (1936) offered £83,. but holders r wanted £83 10s. .For -594 . per cent. ■ Christchurch City (1955) £101 was offered, and £101 10s demanded. Sales were : "i notified as follow: 5Vi per cent. New Ply- '■■■', month Borough (1933), £97 10s; ok per ■iccnt. Auckland Harbour Board (193/). ;; £98- " . n !'■ Company debentures had inquiry. tor :^8 per cent. Wellington Racing Club there ■f were unsatisfied buyers at £106. The 6% '■■*. per cent, issue of the New Zealand Re- .•!' frigerating Company was in demand at >}'•■ £85, but the lowest quotation from sellers !: -was £99 15s. Sales reported were as '■f follow: 6% per cent. Booth Mac Donald ft; (1932) £70; '6V2 per cent. New Zealand X Fanners'- Co-op. (1945), £86.

y BANKS, INSURANCE, FINANCE. !'■' Bank shares wanted included Commer"'cial of Sydney at £21'10s, holders demand- -■-■ ing £21 17s 6d.' Sellers of Bank of New ': Zealand D shares, paying TVs per cent., 11' quoted 27s 3d. The sales made during the week were as follow: Bank of Aew -■ Zealand, 57s 9d, 58s, 58s 3d; Bank of New ,•': South Wales (cum." div.), £40 10s; Na- ■ tional of New Zealand, £6 0s 6d, £6, £5 '• IDs, £5 19s 6d, £0, £6 Is; Australian :ißank of Commerce, 25s 4d, 25s 2d, 255; ■'Australasia, £11.17s 6d, £12; Union Bank, -; £11 17s, £12; Commercial of Australia, •:-;23s Id, 23s l%d, 22s 10d, 22s 2d, 22s lOd, /"and rights, 2s, 2s 3d. 2s Id; National of /Australasia (£10), £15 8s Od; E.S. and .. A., £6 16s; National of Australasia (£.], i- £7 Us Gd, £7 11s: Bank of Adelaide, £7 "; 12s Gd; Queensland National, £7 12s Gd. Insurance companies' shares had a small !■' turnover, with sellers of A.P.A.'s at Oa : • and Queensland's at 525, without attraet''i ing buyers' attention. The business done f\ in insurance shares was as follows: —New h Zealand Insurance, Us; South British, '■■i 61s; National, 14s 6d. 2 ; Stock and station and financial compani ies' shares attracted some attention, but done was of moderate dimensions, sales being as under:—Dalgety, £12, £11 f-lps Cd, £12; Goldsbrough Mort, 31s 9d, S"32s, 31s 9d; New Zealand Guarantee Cor- ■ poration (Bs),' 8s Id; Dominion luvest--1 men1;, 19s.

COAL AND GAS.

...Coalmines were not in strong .demand. "i but a fair,amount of business in the shares was transacted. Hikuraugis were .! in demand at la 6d for ordinary, .sellers 2s Gd and 4s for preference. Sales of the ■ week have been as follows:—Westport, " 20s; Waipa, 14s; Grey Valley, 265; Roll nown (pref.), 3s; Pukemirq, 70s. Gas company shares have been dealt in ;i and interest in them has been fairly well•i spread. The following sales have been i made:—Auckland Gas, 23s 6d; Timaru, 24s 10d- Wellington, 30s 9d; Christchurch, 2os

' 9d. , „ ; Shipping shares are very quiet with sell- "'' ers of Huddart Parker ut 39s 6d cum. div. '■'■ Union Steam Ship preference are wanted 'at £1, no declared sellers. Holders of ' P. and 0. deferred would accept 4Ss 9d. •f Sales of Northern Steamship were noti- ;' lied- at 14s. . ■ ■

BREWERIES AND. OTHERS,

7. 'Investors in brewery-shares show confi r . "deriee- in -the future. -Crowns were in de- £ -mand at Bs, Bella's 10s. Carltons had | buyers at 38s 6d, sellers 39s 9d. For S-Tooths 39s 6d was offered, but holders '$■ -wanted 40s 3d. Sales notified were as fol;i 3ow:—New Zealand Breweries, 84s, 83s 9d, ; *83s. lOd, 84s, 83s Gd; Staples, 48s; Dunedin, !^'29s 9dj Monteiths, 19s 6d. j 'S Meat shares - are very quiet, with sales p, of Gears at 39s and of New Zealand Ee- * frigerating 10s paid at 6s 3d. 5 v In timber shares a fair amount of busi■s' ness has been passing, sales being as fol- |;: lows:—Leyland O'Brien Timber, 28s 6d; *'; Kauri Timber, 15s 3d; Bartholomew, Vi 21s' 6d; National, 8s 6d. . % Not much has been, done in woollens, ¥ibut there were buyers of Wellington's

-"-(pref,) at £5 18s. The sales notified were 'SI as follow:—Mosgie3, £7; Kaiapoi Woollen p (75),-3s 7d, 3s lid and .(17s), 14s 3d. {: In the miscellaneous division there was :fii but little, activity, .the following business '& being recorded:— • t! British ' Tobacco, 41s 9d, 425; Booth t Macdonald (pref.), 4s 6d; Colonial Sugar, i' £43 7s 6d, £43 175.6 d, £44; Farmers' ■ft Fertiliser, 21s; Farmers' Trading (B pref.), 5 12s 3d and'(ordinary) 8s 7d; New' Zealand " Drug, 72s '6d; "Otago Daily' Times, Ltd.," F 77s 6d; Whittome Stevenson, 41s 6d; Wil- '■»: eon's ■ Cement, 395.;