STOCKS AND SHARES

Evening Post, Volume CXII, Issue 87, 9 October 1931, Page 10

STOCKS AND SHARES

GILT-EDGED RECOVERY

A WEEK'S BUSINESS

"Evening Post," 9th October. Now that everyone knows what thf Government proposes iv its supplementary Budget a certain fimount of the uncertainty depressing the investment market has been, lifted, and within the past thr<?p days there has been a sharp advance in prices for Government debentures. Other investments, including bank shares are much about where they were last week. Whether the recovery in the values ot Government loaus goes before a general improvement in those of semi-gilt edged investments time alone will .tell, -lue new export season is now well in us stride; butter and cheese markets are looking healthy, the wool market wears a slightly more cheerful countenance, and meat is showing no serious fall in vaues. although still susceptible of much implement. The ' high exchange rates ot foreign countries and the continuance of the rate o£ exchange Now Zealand on London, should be, of assistance to local industries in meeting, competitive imports and so excite a keener interest irom investors in well established and capably managed local industries. . The course of the market lor government debentures can be traced in the record of: sales hereunder compiled irom I day -to day. Business done was as iol°W«4'per cent. Stock (1938), £93. £93 ss, £9s, and Bonds (1938), £95; 4% per cent. Stock (1939), £95, £97, and Bonds (1939), £95 10s; 5% per cent. Stock 0936) £98 10s; 5% per cent. Stock ■ 933 £96 7s 6d..£96 ss. £98. £98 15s, and Bonds (1933). £94 ss, £96 Jss; «i per cent. Stock- (1937), £04 5s £94 10s, £94 15s, £04 125.6 d, £95, j^J^£^ £94 17s fid, £95, £94 17s 6d, £94 7s 6d, £65, £94 J7« 6d, £94 15s, .and[Bonds narh £M 7« 6d £95. £94 17s 6d, £98 fBFV M%er%nt: Stock. (1937). £92, md Bonds.W), £91 M* £93; V? "int. Stock (1951), £89-15s;'«% P« cent. Stock (1941), £93. • ~ : Leeal authorities' loans still figure more protainently'in the selhog than in, .the Duyrpg column with, a few exceptions. Among those wanted 'are SW percent. W& City- (194Q) •* *«^rtS£ cent, and 5U per cent. Auckland City (1944 and 1940) vat £93 and £84 10s respectivefy • 6 per cent. Mount Albert Borough (1959), at £98. With'the- -difficulty experienced by a small North Island, borough & meeting its interest now due investors n"te?ested*in the lesser municipal issues are likely to manifest.more curiosity about the financial standing of- some of them than formerly- Sales o£ local loans were reported as follows:— . 5% per cent. Dunedin City (1940), £97: 5% per cent. Auckland Power Board (1946), £96; 5% per cent Tan, naki West Road Board (19o9), .£99 ;6H per cent. Mount Eden Borough (1957), £102- 5% per cent. North. Canterbury Hospital Board (1940), £100; 5% per cent; Lyttelton Harbour Board (1933), £97: 5% per cent. Invercargill Borough (1934) £97; 5 per cent. Rural Advances Bonds (1947), £85.

BANKS, INSURANCE, FINANCE. Sales of. bank shares during the week have been restricted, almost < entirely to those in one institution. The sales notified were as follows:-^ ; Bank of New Zealand, 44s 44s 6d, M? 2d, 445, 44s 3d, 43s 10d, 43s 8d 435, lis, 43s 6d, 435, 43s 6d, 43s 3dL 435, 43s 3d 43s 43s 4d, 43s 6d; National Bank of New Zealand. 72s 6d; Union Bank, £6 lis 6d, £6 12s, £6 lis; Bank of New houth Wales, £25 ss; Commercial Bank ot Australia, 13s 2d. 13s Id, 13s; Australian Bank-of Commerce, 13s; National Bank of Australasia (£5), £4 ss. Insurance shares were neglected, but there were bids for New Zealand insurance at 375, sellers 38s. Nationals were wanted at lis sdto lis Od.vith no declared sellers, Queenslands were wanted at 255, holders not quoting. In the lnsuiance share market it would appeal Uat holders are disposed to hang on. >aieb were reported as follows:— ' South British. X* 9d, 60s 3<i, 60s 6d. Vinanciai and pastoral companies shares »£ WL witb'bids of 19s 7d for Goldsfc'rough, Morts,- sellers quoting 21s. bales •ere as follows:— « Abraham- and Williams (pref.), 6<s «d? Dalgety and Co., £6; Dominion In-vestment-and Banking, 18s. COAt, SHIPPING, AND OTHERS. Quietness reigned in the coal share, markei Buyers, however, wanted Taupui preference at 20s, sellers 225; others were ill sellers, Sales were as f°»°«-s;-Pukemiro, 28s 3d; Westport, 22s 6d, 23s r« shires-were dull at 23s offered for _2s__wSd w iot/°[ r^ b6d" tl„- PhriKt-ehurch were wanted at oq, „flirf 2 s 9dWellington 25s lOd. no seers. No business was reported Shtooins shares were in demand with IBfofofferedl for Devonport Ferry, sellers askinz 19s; Huddart-Parker ordinary had buS at 18s, sellers 21s. ?>**%<>:£& ferred were inquired for at 20s 6d, liom ers\ot quoting. Sales were as follows.TJnion Steam Ship, pref., 20s. Brewery shares were quiet, but those ot thfbil'CompUy-were firm. Sales were as New Zealand Breweries,. 295, 28s, 29s Sdfl^ M, 28s 9d, 29 ?J 28s lid, 29s 2d, 29s 3d, 29s Id, 29s 2d. Meat company shares were neglected. There were sales as follows:— . N.Z. Refrigerating (10s), 3s lOd, 3s 9d. Timber-shares asked for included Kauris at 7s 9d to Bs, sellers 8s 6d to 9s Otheis were X Sales were as -follows:National Timber, 5s 6d. •Woollen, shares wanted were Wellingtons (pref.) at 80s. Sales notified were:Wellington Woollen, ordinary, B_._. Miscellaneous shares having innmrrincluded Burns, Philps, 28s 6d; D.LU, °»£m arv 12s; Electro Zinc, pref., 16s; DunlopPerdriau Rubber,-6s 9d; Henvy Jones, 1? S ; Woolworths, pref., 24s 6d to 2* .including dividend; Farmers' Fertilisers, 10s, Sales were as follows:— Amalgamated Wireless cum div.), Us; British Tobacco, 22s 3d, Beath and Co. (Is paid). Is; Colomal Suzar, £33, £32 15s; N.Z. Drug, 42s 3d, Robinson 'ice-cream, Wilson's Cement, 35s Id; Woolworth (N.Z.), Ltd. (pref.), 25s 6d.