MONEY FOR INVESTWENT

Evening Post, Volume CXL, Issue 102, 27 October 1945, Page 9

MONEY FOR INVESTWENT

The exceptional demand for tha !_6W capital Issue by Felt and Textiles, Ud., ■ has been the feature. of this week's operations oh the stock market- The fact that it : wa* iheatlly oversubscribed was generally: expected^and point* to the amount of money that is seeking sound investment. The manner in which*the 50,000 shares will be split up among the 3SOO appllcants, is■;' awaited with interest. : _.■-,-.:.;. ;::' The\raovemetit in the price of-Beid..Kubber rights has also been conspicuous;;. Sales-. ; have been reported at 9s 9d. , There, has'been>fair traffic in them this week, the .early-business belng done at Bs. A" fortnight 'tfgb. they were changing hands at something 'crceb 75.; The shares have also,improved"in price,cbuyers'paying 31s 3d late this week. .Two ..weeks, ago the price was .2SB 6d; "At current prices'they, are still a little below, the lever of, .the, cum. rights, which' went. - to'-. 335. '"' '«- :-' Banks have, been firm, with 'New Zealand steady at 50s. National moved "'up' to 58s after a quiet period, and'Commercial-at 18s Sd* show a good ■•' improvement on •■.their' early-in-the-month price of 17s lid. .Banktdf Kew Kealand "D" shares are in >demandvat firmer prices. ■ -. , \t. x .',">.,- '■■■■■' The Insurance market has Eteadled. In fact. South British recovered a little-'tb'^fi* 6s.

Woollens are wanted. Bruce had ia"'sale at the very good price of. 40s, after being round about 37s 9d for eorae time. _, Timaru were' slightly firmer also; and there was a sale of

Wellington at £0.55. v'-'f _:'•..- ; The market for Australians Is more buoyant. Broken Hill has advanced to 475," which is 1» higher since the beginning of" the;month, and British Tobacco are, In keen .demand.' The price limit for this stock has been Increased In AustraliaJ.nnd the local market has followed It.1 ,In. the first week of October they, were purchased at 49s 3d;.this week there wis a sale at 51s and 60s 6dj and the market Is.very Arm. Electrolytic Zinc-shares have"had dealings at 595, and Mt. Morgan-reached. 10s.

Government stock are Arm on *.marketythat continues to be very: much ; undersupplied. There has been a fair ,turnoverjlh .Rational War Savings bonds .at prices that .return approximately 3 3/_ percent. '. - "• -'. The approximate prices for: '"Government, loans at this time last year, for•• last week, and the highest prices paid thhrweek, were:—-

Per A year :ent. Year. ago. !%'■ .... 1946 87% J% .... 1947-49 98 - !%•' 1953 95 I .... 1951-54 98% 5 .... 1952-55 99 5 .... 1955-58 — St .... 1956-59 — J% .... 1957-60 101% Wz .... 1953-57 102 I ..... 1952-55 — I 1954-58 107 •Buyers. tVlctorj Last'-; This week.-w week.100% 100% 99%, -, 99% 96% 96% 100% 100% 99% 100' 100 - 100%' 99% • 99% ♦101% • 101% 103%,,. — - 106 ~ ■■■■■ 106% — ' *107 y Loan.