COMMERCIAL

Evening Post, Volume CXXXVI, Issue 57, 4 September 1943, Page 9

COMMERCIAL

STOCK AND SHARE BUSINESS

Business on the Stock Exchanges this week has beeu fair to good, taking the Dominion as a whole. Sellers have shown more inclination than of late to disclose their ideas of values. Dealings in Government loans have been more numerous and have almost the whole of a now expanding list. Yields on prices current for the three Liberty • Loans, taking them at the shorter date of maturity, varied from S 1-8 per cent, to a ehacie over 3% per cent. Approximate prices for Government loans at this time last year, for last week, and highest prices paid this week, were as follows: — September. Last This Per 1942. week. week, cent. Year. £ & »., 2% ~..« 194G *97y 4 98 07% 2% .... 1947 — 98% 98y* |2% ;..... 1948 — 97y 3 97 3 .... 1951-54 99 98 98 3 .... 1952-55, — 98% 98 . 3 .... 1953-56 . — 98% . 98% 3 .... U953-56 — 98 98^ 4 t .... 1943-46 1017 a 100% 100% 4 ~...: 1946-49 *104% 103%, 103% 4 .... 1952-55 *107y a 106 106 i 4 .... 1954-58 *108 107% 107% War Loan, 1953 92% 93% 9<5% Liberty Bonds, 1949 .— *19/- *W~♦Buyers. tThlrd Liberty Loan. Interest is due on September 15 next on 2% per cent. (1947), 3 per cent. (1946-48), 3, per cent. (1952-55), and 3% per cent. (1957-60). Loans in the above table Include 2% per cent. (1946) and 3 per cent. (1951.-54), which are the second war loans. The first war loan, maturing 1953, was compulsory and was issued free of interest until October 1, 1943, and interest thereafter being at the rate of- 1% per cent, per annum. The first Liberty Loans are shown as 2y 2 per cent. (1947) and 3 per cent. (1952-55) ; tho Second Liberty Loans, 2y 2 per cent. (1948) and 3 per cent. (1953-56); and the Third Liberty Loan, 2y a per- cent. (1947-49) and 3 per cent. (1953-56) ,'■ the latter loan being designated 15/12/1953-56 and marked t- • Sales of debentures notified this week included 4% per cent. Auckland. Harbour Board (1948), £103 ss; also iYs per cent. New Zealand Farmers' Co-op. (1950), £97 10a and £97 15s; (1955), £98 10s, and 4%. per.cent. Deposit Stock (1950), £98 ss; 3% per cent. Auckland Gas (perpetual), £86 10s. Bank shares were inclined to bo easier this week, with Bank of New Zealand keeping at 42s 3d; Union Banks 6d lower, at £7 13a 6d; E.S.A. unchanged at 79s 6d; Comraercals at from lfe lOd to 16s Bd, with £10 10s paid for Its preference issue. Bank of 'New South Wales were a shade easier at £33 12s 6d, but rose to £33 15s. Insurance shares were dearer, N.Z. Insurance lifting from 85s to 86s 3d. South British kept at 73s 3d, and Standards lat 73s 9d. Among the financial companies dealt in were Dominion Investment and Banking up to 22a 6d, and Newton King, pref., at 20s 6d. Woollen and other textiles in the sales were :— Bruce, 30s; Tlmaru, unchanged at 20s 6d; Manawatu Knitting, 375; Bonds Hosiery, 38s 6d;. and M.K. at 7s; Freezing companies were wanted, with business done in New Zealand Refrigerating (£1) to 25s Cd, and: (10s) at 12s 2d. Farmers' Freezing, Auckland (unofficial), realised 245. Coal and gas chares were sparsely dealt in. In the miscellaneous section New Zealand Drug (£1 paid) made 55s 6d; New Zealand Newspapers went for 395, and "Otago Daily Times" at 465; Wilson's, Cement, 19s; and Consolidated Bricks at 9s were unchanged. Shares in the department stores sections in the sales were D.l.C.,'ordinary, at 18s, and Farmers' Trading at 22s lid. Chain store shares were quiet, with a rise of 6d in McKenzie's Department Stores, sales at 47s 6cJ,; Woolworths (N.Z.) sold up to 16s 6d. Breweries were in slow demand, with sales of New Zealand Breweries at 36s 3d, Dominions at 37s 3d, and Ballina 15s 6d. Australian investments were inclined to weaken. Colonial Sugar dropped from £58 last week to £57 15s. A.C.l.'s improved from 55s 6d to 565, and Felt and Textiles were 6d dearer at 50s 6d. There were dealings in Henry Jones at 55s 3d. Woolworths Holdings improved to 28s. Woolworths, Ltd., eased down from 18s I'd last week to 17s lOd. G. J. Coles were slightly cheaper at 60s. Sales Of Selfridges (Aust.) were made at 23s 6d. In the mining section Mount Lyells were easier at 30s 3d, and Mount Morgans made from 9s 7d to 9s lOd. ;