STOCKS AND SHARES

Evening Post, Volume CIX, Issue 102, 2 May 1930, Page 12

STOCKS AND SHARES

AFTEE, THE HOLIDAYS

BUSINESS OF THE WEEK

"Evening Post," 2nd May. 'Necessarily Stock Exchange business has been" slow this week, following the Easter vacation, but investors continue to take a close interest in the market, and are on tie look-out for bargains. Prices have an easier tendency than before Easter, but even at current rates the market would gtem to be propitious for those who can flford to buy now and put their pur#Tiases into the r.i'e. Bank shares are returning from a little over 5 per cent, to Nearly 7 per cent} in some instances, and their flotations will be a good iudes to the valuei of other investments. In estimating the value of the shares of some of the banks the fact has to be taken into account that far from all of them have reduced their returns to shareholders, and that in the case of those which have reduced their dividends or not paid the customary bonus, it will generally be found that this course has been dictated more from prudence than necessity. The summary horeunder of principal Bales effected yesterday gives the returns to investors on the market price, based on latest dividends. In the case of Government loans and other redeemable debentures, redemption is included:— GOVERNMENT. '," ■' • Sale Price. Yield p.e. £ s. d. £ s. (1. 41/. p.e. Govt. Stocli, 19P.S 9S 0 0 4 16 3 4% p.c. Govt. Stock, 1039 Hi U 0 4 37 4 5% p.c. Govt. Stock, 1030 99 5 0 5 12 11 5% p.c. City of Welling- ' ton, 1932 9S 17 G 5 18 9 $'/- p.c. Cliristclmreh Giis, 1931 100 10 0 5 7 5 -..:.■' SHAKES. Bank of N.Z. 2 IS C -1 IS 0 Bank of N.S.W . 30 0 0 5 2 7 Commercial Bank 1 1 0 72 9 Union Bank 11 l(i « J 5 10 2y"at. Bank of N.Z., Ltd. 6 7 6 510 0 Xat. of Australasia (£5) 7 7 6 6 15 7 E.S. and A. Bank 6 6 0 5 19 0 Aust. Bank of Commerce 14 0 516 7 N.Z. Insurance 2 4 3 4 2 10 South British Tns. Co. .. 3 0 li 4 5 5 Queensland Ins 280 542 Dalgety 11 0 0 7 14 5 Goldsborough Mort .... 110 10 914 7 N. 55.' Breweries 2 13 0 3 13 2 Huddart-rarker (pref.) 019 9 SIS 5 Auckland Gas 13 9 (i 14 5 British Tobacco I'l9 2 G 2 7 Mount Lycll. 1 S 0 14 5 7 Waiht 013 10 11 9 5 • Government loans in demand are stock and bonds .4% p.c. (1039 and 1941) at £97 12s: (3d. For iVz per cent, .bemds (1930) £99.5s is offered. Holders refrained from quoting yesterday. Sales have been made as follows:—4%.p.c. Stock (1938), £97 10s, =£97 los 6d, £97 12s Gd, £97 15s, £!)S, £97 17s Gd; 4/4 p.c. Stock (1939), £97 10s; 5Vz p.c. Stock (1933), £99 2s 6d; 5Vt p.c Stock (1936), £99 os. Local body loans in the market included 5% per cent. Wellington Harbour Boards (1940), for which sellers quoted £98 12s 6d. ■. There were buyers of 5% p.c. Auckland Harbour Boards at £97 10s, and for the 6 per cent, issue of that authority £102 Ti-as offered; no declared sellers. 5 p.e. Eastbourne Borough (1934) had buyers at ' £96 10s. Buyers bid for 5% per cent. City of Auckland (1940) £96, and for 5% per cent. Auckland Power Board £07; holders silent. ' Business done during the week iras:— Pk City of Wellington (1932), £98 17s 6d. ' Company debentures attracted moderate attention. Wz p.e. Glaxos were in request at £90 10s, and S per cent. Wellington Racing Clubs were wanted at £105 10s. For 6 per cent. Golden Bay £1 debentures, 15s •was offered; no sellers. There were sales o£ 5Vz per cent. Christchurch Gas (1934) at. £100 10s.' BANKS, INSURANCE, FINANCE. Bank shares wanted included Australasia at £12 to £12 2s Gel, and up to £12 ss; holders wanting up to £12 12s 6d. Bank of Adelaide had buyers at £6 6s to £6 10s; sellers quoting £G 10s to £7 (cum dividend). Commercial Bank of Sydney could have been bought for £19 las; buyers' ideas of values were not revealed. The sales notified during the week were as follow:—Bank of New Zealand (cum div.), 595, '58s, 5Ss 3d, 5Ss Od, 08s 9d, 5Ss 6d, SSs, 58s 3d, 58s 6d, 5Ss, and D shares, 26s 4%d; Bank of New Zealand, £6 7s Od; New South Wales, £39; Union, £11 ISs, £11.16s 6d; Commercial of Australasia, 21s 6d, 21s od, 21s 3d, 21s; National of Australasia (cum div., £5), £7 2s, £7 ss, £7 Ss, £7 7s Gd; E.S. and A. Bank, '£0 7s Cd, £6 7s, £6 6s, £6 3s 6d; Australian Bank of Commerce, 24s Id, 245. Insurance .companies' shares in demand included A.P.A.'s at Cs; no sellers. Standards at 50s to 51s 6d, with sellers 57s 6d. Nationals (cum div.) were quitted at 14s 7d; sellers quoting 14s lid to 15s. The sales notified during the week were as follow:—New Zealand Insurance, 44s sd, 44s Sd; South British, 60s 6d; Queensland, 4Ss. ■ Stock and station and financial compan-, ies' shares, for which there were buyers, included National Mortgage at 60s; Wellington Trust, and Loan at £7,. sellers £7 2s 6d. There were sellers-of Abraham and Williams at 90s, Loan and Mercantile at £102; New Zealand and River Plate at 30s, and United Building at 14s. Business transacted during vthe week was as follows:—Dalgety (cum div.), £11, £11 Is, £11; Goldsbrough Mort, 30s 10d;* New Zealand Guarantee Corporation (8s), 7s lid; Wellington Inyestment'T. and A., 11s. COAL, GAS, AND SHIPPING. Business shares in all- three sections was poor. Grey Valleys (cum div.) were wanted at 24s 6d, sellers 275. Hikuringi had buyers at Is 3d, sellers 2s. Pukemiros could have been bought for 70s. Waipas (ex div.) were quoted by sellers at lls. There were sales of Renown preference at 2s 9d. Gas shares wanted were AVellington (ord.) at 30s, no sellers, and Christchurch (paid) at 265, sellers 2Gs Bd. Sales reported were:^Auckland, 23s 9d, and (contri-' buting), 17s 4d; Christchui-ch (10s), 13s 2d; Timaru, 225, 22s 3d, 225.' Shipping shares in demand were' P. and O. Deferred at 48s 3d, sellers 525; Union Steams (pref.) at 20s; Huddart-Parker ordinary were quoted by holders at 40s 2d early iii the week, and yesterday at 39s (3d. Shipping shares sold were: Huddarfc Tarker (pref.), 19s 3d, 19s 9d; Devonport Ferries, 21s 9d. INDUSTRIALS. Meat shares, in view of low prices on the British market, were easy, with Gears offered at 395, no- buyers. Canterbury sellers -would have taken £6 10s for ordinary and £4.5s for preference, but buyers gave no idea of their values. There were sales of New Zealand Refrigerating (10s) at ss. Timber was very quiet, with sellers of Leyland-O'Briens (ex dividend) at 29s 6d, and Nationals at 8s 9d. There were sales of Kauris at 13s 6d. Woollen shares were not in demand, and holders .oi Wellington ordinary and preference were quoting £6 and £6 3s respectively, without attracting buyers' attention. For Kaiapoi (17s) 10s was bid, ■no declared sellers. ' Brewery shares were nearly all sellers, quotations being Carl ton 355, Fosters 70s, Tooheys 235, Crowns 10s. For Ward's (in liquidation) lls was offered, no sellers. Sales were as follow: —New Zealand Breweries, 535, 53s Cd, 52s lOd, 535, 52s 6d; Staples, 495, 48s 9d; Tooths, 31s 9d, 325, 32s 6d, 31s 9d, 31s 6d, 31s 7d, 31s 4%d, 31s 4d. ■ ■ MISCELLANEOUS. Business in the miscellaneous section ■was restricted, and was reported v as follows: British Tobacco, 40s 3a, 40s 2d, 40s, 40s 3d, 39s 9d, 39s 6d, 39s 2d; Byeroft, Ltd., 345; Dunlop-Perdriau, 16s 9d, 16s 6d, 16s'7d; Electrolytic Zinc (ord.), 245; Tanners Fertiliser, 18s 3d, 18s 10d; 18s 6d. MINING. Prices- realised for mining shares were us follow: Waihi, 13s lOd, 13s 9d, 13s lOd; Mt. Lyell, 28s 3d, 28s Bd, 28s Od, 28s 6d, •^s 3d, 27s lid; Kawarau, 5%d; Stoney Creek (6d), 7d, 7%d; Paddy's Point, 3s Gd; Cornish Point (Is), OVzi, B'/4d. MAY DIVIDENDS. Interest, fthd dividends usually receivable in Wellington during the month of May arc as follow: iVj. per cent. Government Bonds and Stock (1938), National Bank of Australasia. Bank of New South Wales Xq,narter}y), Queensland National Bank

(quarterly), National Insurance, New Zealand Investment and Mortgage, AVellington Deposit and Mortgage, Wright, Stephenson, P. and O. Deferred, Northern Steamship, Union Steam Ship (pref.), Taupiri Coal, Grey Valley Coal, Westport Coal, Tooth's Brewery, Australian Iron and Steel (prof.), Burns Philp (Sydney), Colonial Sugar, D.I.C. (cum. pref.), Donaghy Rope, New Zealand Paper Mills, Sharland.