The Stock Exchange

Hawke's Bay Herald-Tribune, Issue 89, 1 May 1937, Page 17

The Stock Exchange

'Cum Prof" ———————— J

! Review of Share Movements

\ By '

i — — — A further" decline in the shares of companies produeing base metals was the feature of trading on New Zealand Stock Exchanges during the week under review. ^ Business in the other seetions Was maintained, although prxces in many instances fluctuated cOnslderably. The dexnand for Government Stock was continttfed at prices firm on last week'S closing rates. Four per cent; stock, 1043-46, opened at fl02 15/-, and after firaiing to £103 2/6, elosed at £102 17/6. The 1946-49 issue traded from £102 to £102:10/-.^ The bulk of the business in Government Stock was recordUd in the 1952-55 issue, whfcfi traded freely from £104 to £l04 5/-. No business was recorded in Government Bonds, buyers ' offers failing to attract seliers. ' In the bankxng seetion Bank of New Zeidand and Commercial of Australia called for most attentxon, the shares of the. f orxxter.changing hands firm on last week's closing prices from 44/3 to 44/9. Commercial of Australia were freely traded from 19/6 to 19/8, while Bank of New South Wales eaBed during the W6ek to £37 5/-. The shares Iater recovered, however, and a closing sal# was recorded at £37 12/6. The directors o£ the latter bank have announced an interim dividend at the anchanged rate of 6 per cent. Gold Prices Decllxie. Barisg the past week the price of gold has steadxly decreascd and this has caused mueh speculation in gold mixiifig cotepanies on the London Stock Exchange. The reduction ha# been reflected in the trading of gold mining shares On New Zealand exehanges where the turnover for this week has been very limited, The future of gold is oi no little importance to New Zealand a# the hxgh Values of recent yeaT# have gfven stimulu# to production and led to the establishmfent of several new companies, These compaxxies, in many cases, are worMng low-grade deposita and the Government legislation has made conditions very difficulfr, If the. price of gold depreciates to any great extent, these companies will be faced With the necessity to cease operfttions. The higSiest and lowest prices of gold during the past five years are as follows: —

London quotations for base metals again eased during the week under review and a' corresponding reduction was refiected in the shares of produeing companies. There was a substantial decrease in the price of Broken TTill pTOprietary shares during the week, foliowing the announcement of an interim dividend st the unchanged rate of 1/3 per share, This in addition to the lower rates for base metals rasulted in the shares being sold down to 78/6. At closing saies, however, the prxce improved to 81/2 and 81/3. Moant Lyells were traded from 47/5 down to 44/11 and Mount Morgans also eased to 15/-, after opening at 15/9. Recent Company^ Reports. National Insurance Co., Ltd.-«. TM# company has declared an interim div'v dend at the rate of 4d per share for the half-yeaf ending March 31 last. The dividend is payable on May 15 and is at an unchanged rate. Kaitangata Coal Co., Ltd. — The aecounts of the Kaitangata Coal Co., Ltd., for the year ending February 28 last reveal a net profit of £5,545 as against £6,759 for the previous yp&r. The dividend is at the unchanged rats of 2/ber share. * G. J. Coles, Ltd. — It is repOrtcd that G. J. Cdfes, Ltd., have acquired the leasa of a property next to its main store ixx Molhourne. An option on the site on the other side of ^ the store has been obtained with a view to extending the present premises.^ InvestOrs anticipate a new issue of capital in the near future to meet the building costs and the. shares have appreciated accordingly. " Sharland and Co., Ltd.— -The directors of Shariand, Ltd., advise the Stock Exchange that tliey have deeided to pay an interim dividend of 24 per cent. on all shares. This dividend Ms been declared at an unchanged rate. New Zealand Paper Mills, Ltd. — A recent repdri; states that th'e direotor-

ate of Ncw Zealand Paper Mills, Ltd., has recommended a final dividend at the rate of 4 per cent., making a total distribution of 7 per cent. for the year ended March 31 last.' The dividend for the previous perlod was declared at the same rate. Henry Jones Co-op,, Ltd.— An unchanged interim dividend of 0d per share, payable on june 1, has been declared by the directors of Henry Jones Co-op., Ltd., the large jam and preserves manufacturers of Australasia. The final distribution Ihst year was 1/6, makxng a total of 2/- per share for the year. The foliowing table givea the hxghest and lowest prices, and in brdckets the number of parcels,' whxch changed hands on New Zealand stock exehanges during the pUSi ' week: —

£ b. d. £ s. d. 1932 6 10 8 5 8 4 1933 6 14 8 5 18 0 1934 7 3 3 6 6 8 1935 7 9 4 6 19 9 1936- 7 1 4 6 17 5 1937 (to date) 7 2 7* 7 0 7*

Highest Lowest it a d a d Inscr. Stock, Si p.o. - 1953-57 (2) 98 10 . 0 ^ Inset. Stock, 32 p.c. 1941-43 ............ 100 17 6 laser, Stock 32 P.O. * 1938-41 (2) 101 10 0 Inscr. Stock# 4 p.e. 1943-46 (8) 103 2 6 102 15 0 Inset. Stock, 4 p.c. 1946-49 (6) ....1 102 16 0 102 0 0 Inscr. Stock 4 p.o. 1952-55 (11) ......... 104 ' 6 0 104 0 0

GOVT. STOCKS AND BONDS.—

Com. of Aust. (pref) 9 8 6 Com of Aust (ord.) (131 19 8 19 6 National of N.Z. (9> 3 3 3 3 2 3 New South Wales (5) 37 12 6 37 5 0 New Zealand (ord) (20) 2 4 9 2 4 3 N.Z. (d. mort) (3) 16 6 16 0 Union of Aust. 11 6 3

BANKS.—

National (2) 17 9 17 7 New Zealand (3) ... 3 1 3 Queensland ......... 2 19 9 South British (3) ...... 4 14 0 4 13 8

INSURANCES.—

Dalgetys Ltd. (3) 11 1 0 11 0 O Goldsbrough Mort (10) • I IS 71 1 17 101 Guarantee Corp (11) ... 4 9 4 6N.Z. Loan and- Merc (2) 50 10 0 56 0 0

LOAN AND AGENCY.—

N.Z. Refrig. (£1) (7) 19 5 19 1 N.Z. Refrig (10) 8 10

FROZEN MEAT.—

Auckland (2) 118 Christchurch 19 0

GAS.—

Taupiri (2) 17 0 Westpt Stktn. (ord) (3) 2 6 2 3 West. Stktn (pref) (10) 4 10 4 0

COAL.—

Kauri (2) 14 0 1 3 11 Taupo-Totara (ord) 9 0

TIMBER—

Kaiapoi (17s pd.) 14 0 Wellington 6 16 6

WOOLENS.—

Dominion (pref) 2 3 0 Dominion Cord) (6) ... 2 3 0 New Zealand (13) 6 0 3 2 19 6 Tooths (4) 2 17 f>

BREWERIES.—

Anth. Hotd (pref.) (5) 10 0 19 Aust Glass (2) 4 11 9 4 9 3 Aust. Iron and Steel (pref.) '(2) 4 6 3 British Tobacco (2) 4 8 9 Broken Hill Prop. (44) 4 2 6 3 18 6 Claude Neon Lights (N.Z.) 1 14 2 G. J. Coles (28) 5 0 8 5 0 6 Colonial Sugar (10) ... 45 2 6 44 17 6 Consol. Briek and Pipe & 6 Dominion Fertiliser ... 14 0 Dunlop Perdriau (8) ... 11 1 0 11 Blec Zinc (9) 2 19 0 2 15 9 Elec. Zinc (pref) (34) S 0 3 2 17 6 Farmers* Trading (2> ... 12 0 116 .Donagby's Rope (6) ■... 2 14 6 2 14 0 Taranakai Oil ('4) 4 0 8 10 Rational Tobacco 2 17 6 Henry Jones Co-op. General Industries (3) 10 0 f9 9 Kempthorne Prossor (N.Z. Drug) Milburn Cement 1 17 6 N.Z. Farm Fett'zer (5) 111 1 Q 6 N.Z. Newspapers 1 18 6 Wilcox Mofflin (2) 14 1 14 Wilsons Cement (2) ... 2 3 6 Woolworths (N.Z.) £

Wool'tha (N.Z. (pref.), Wool'ths (Sydney (25) 7 6 0, 7 0 0 Woolworths (Sydney) (nights) (7) 4 14' 6 4 2 6

MISCELLANEOUS—

Selfridges (A'Sia). Ltd. (2) 1 15 0 Waihi Investment ...... 13 0 Martha - (2) 19 3 Mount Morgan (44) ... 15 9 15 0 Mount Lyell (55) 2 7 5 2 4 ll Big River Rawang Tin 12 11 Maori Gully (9) ......... 6 6| Mossy Creek 1 0 Broken Hill South (7) 8 9 2 3 7 0

MINING—