STOCKS AND SHARES

Evening Post, Volume CX, Issue 70, 19 September 1930, Page 12

STOCKS AND SHARES

UNEASY INVESTORS

GOVERNMENT LOANS WANTED

•■.Evening Post,"' 19th September. Confidcncp.;in future, values of the highergrade investments', such as bank shares seems to-"b'ave deserted the local investor. Governnj^it; securities are ■ preferred, especially the AVi per cent, war loans, interest from which is not subject to income tax. -i&iairly";.large number of local body loans havescojrrie into' the market, suggesting pressure on private holders to sell or at least to turn their securities into ready Saies of. Government Loans during the weekj.have;. been notified as follow:—

4% per cent. Government Stock (1935), £100 ss, £100 2s Od; il& per cent. Government Bonds (1935), £100 7s Gd; 5% per cent. Government Stock (1936), £99 7s 6d; 5% per cent. Government Bonds (1933), £99 15s. •

Local body loans, although offering comparatively^ freely, usually :find plenty of buyers," although at what may appear in some instances at bargain prices. The. sales reported during the week have been as follow.: —

v!'> per cent. Wellington Harbour . Board (1910), £98 10s; s]/25]/ 2 per cent. •Auckland Hospital Board (W3CI), £100; 6% per cent. Auckland Hospital (1931), £100; s%sper-cent. Auckland City (1940), £06 2s Cd^i£96; 5 pec cent. Darmovirke 1 Borough' (1946), £91 17s 6d; 5 per cent. Timaru Borough (1935), £96 2s 6d, £95. Companjr-debentures show, an .-.easy .tendency all round when comparison is made with pr,ices/_qf.,six months ago. At the same time there appear to be plenty of buyers o£ such investments at attractive lirices. Auckland Gas 5 per cent, and C% per cent, are wanted at £95 and £101 respectively: for the 7Yz per cent, issue of GisWne-Sheepfarmers £83 is offered, and |pr the lD:per'cent; bonds of New Zealand Brewerie'&'-there are buyers at 21s, Wellington Raring Club 8 per cent, are wanted at £105»25-6d. nSales of the week are as follow!-— . :'f-•;■■,"-.. • ■ , . - &k percent. Auckland Gas (1935), £102; fl&^per cent. New Zealand Refri-gerating-{1935), £95. BANKS, INSURANCE, FINANCE. Bank shares continue to show weakness in the case; of several individual institutions, notwithstanding the generally robust conditidiiof their reserves. . Bank of Australasias'' are1 wanted at £11, but holders stand out for 10s on that price. Commercial Bank .of Sydney had buyers at £17 10s, no sellers. National Bank of Australasia (£10) are quoted by holders at £13 Is, and show a very slight reduction in price on.the week. Sales of other bank shares are'as'follow: — Bank of New Zealand, 56s 3d, 56s Id, 565, 56s 3d, 55s lOd, 55s 9d, 55s Gd, and D shares, 27s 3d; National Bank of New Zealand, -£5 13s; Union Bank, £10; Bank of New South Wales (Sydney register), £32 ss, £31 15s, £31 2s 6d, £31 £30 ,15s, £30 7s 6d, £30 12s 6d, £30 iss,£'3l;,:E.S; and A. Bank £o Us, £5 Its' (sfl, £5 12s: National Bank of Australasia (£5), £6 2s Gd, £6; Commercial Bank" of Australia (pvef.), £6 Bs, £6 7s £6; Commercial Bank ot Australia '(ord.), 13s 6d, 18s 3d, ISs 4d ISs 5d 18s 3d, 18s: Australian Bank of Commerce, 20s, 19s lid, 19s Od, 19s 3d. Insurance company shaves are holding • their own, excepting those domiciled m Australia, which have a weakening tendency. Standards can be had for 58s. Sales were as follow:— ■ New Zealand Insurance,. 42s' Gd,.425; South British, 5Ss, 5Ss 3d, 5Ss 4d; Queensland, 455; National, 13s lid. Financial'and stock and station companies' shares are-lower .on the week. Buyers of Wellington Trust Loan are unsatisfied at £6 19s; others are generally sellers Reduced; earnings are fully expected by stock and station companies. Sales are as follower ■ ' Dalgety, £S 19s, £9, £9 0s 6d, £8 18s 6d':£B 18s, £9; Goldsbrough Mort, 21s 9d, 21s Hd, 225; United Building, *16s 6d; ''New Zealand Guarantee Corporation (8s), 7s;lod. ". : -,:," ;• COAL, GAS, SHIPPING. The^coal mining,, shares-market is very dull. "Sales were as follow: — ■ Taupiri, 20s 3d; Westpqrt, 30s. . Gas', shares continue quiet. Sellers _of AVellington ordinary will accept 30s. Christchurch.. ordinary are wanted at 245. There were:::sales as follow: —.: , I*eilding, 3s; Auckland contributing lss.-:>' - . • . . Shipping company shares continue to be offered/with Huddart Parker's ex dividend at 335,-i 'But there are demands tor P. and O deferreds at 43s 6d, and Union Steamship preferreds at 20s. Sales were contuiNorthern Steam Ship, 14s ; Sd. ■' ; j BREWERIES. i "Vury; little interest, is displayed in breweries, -but. the folfowing sales were made:— New'Zealand;Breweries, 4Ss 9d, 4fes id, 48s 6d- 48s; Tooth's, 23.5, 22s lid, 22s Od, 22s aid; .■..;,>..' .. ■...'■' :fk'i ME^TVQOMPANIES. WellinKton itcaf. Export ordinary, 5s (id---:With regard to this company directors'have informed shareholders that negotiations are Hearing completion # by which'the company will be able to. mini-mise-the risks caused by selling m ovcrseasunarkets, and an offer will be made whereby: holder of ordinary shares wilt b'e!able to dispose of his holding ior 10s ca;s^:;'f,br each fully-paid share. Ge'jir' meats still have sellers at 375, and Canterbury Frozen Meats can be bought for <£6:i!l0s. The 10s. shares of New Zealand; Refrigerating ■ are quoted by holders at 3s 9d. , , . ~, In the miscellaneous division the lollowing s,ales have been notified:— Sritish Tobacco*, 32s 4d, 325/ 32s 3d, 32s' Id, 325; Bycroft (Auckland), 245; Colonial Sugar, £31 ss, £30 10s; Electrolytic Zinc (pref.),, 20s; Robinson Ice Cream, 225; Sharland (pref.), 18s 9d; Wilson Cement, 40s tid, 40s 9d. MINING SHARES. Business in mining during the week was us under: — Waihi, 1)«, 14s lid; Mount Lyell, 20s Bd, 20s 9d, 20s sd, 20s 3d; Winding Creek (6d), Vid, and-'(ls) 3V'3d; Paddy's Point, 3\ 3d; Mahakipawa, 3%d, 3d, 3'/2d, 4%i1. |