Review of Share Movements

Hawke's Bay Herald-Tribune, Issue 101, 15 May 1937, Page 10

Review of Share Movements

"Cum Pref"

By

The past wfeek has seen normal conditions ruling on New Zealahd stock markets. Prices were finn to a moderate turnover, and business covered a wide range of Becurities. Generally, higher prices for base metals caused a slight iirming in shares of companies producing these commodities, but investors appeared to be operating with caution and there was a marked absence of lieavy buying. The continued lack of sellers of Government loans is still responsible for firm rates for most issues. Buyers' quotations, however, kept prices within r-easonable litnits and few saies were rccorded. A few parcels of 4 per cent 1943-46 stock changed hands at slightly lower rates ; the market opened at £103 5/-, and later saies were recorded dowfi to £102 17/6. Only one parcel of bonds was traded, the 1952-56 issue clianging hands at £104- 10/-, which is 10/- higher than the last sale, reported three weeks ago. Bank Shares Easicr The demand for bank shares was chiefly confined to" New Zealands and Commercials, The former opened to sell freely at 44/-, but closing saies saw prices easier at 43/9. Commercials were weaker at 19/3 after trading steadily at 19/6 for some time past. Unions were marked down to close at £11 4/-. There can be little doubt that the weakening of the commodity issues tended to causp a buying _ of bank shares and caused iirnier prices. "With th.e return of normal trading there has been less demand for banking issues, with a consequent easing in prices. NeW Zealand Newspapers An increased net profit at £48,006 is reported by New; Zealand Newspapers, Ltd., for the year ended March last. The dividend has been iuased to per cent and absorbs .>7/334, while £38,985 is to be carried forward. It will be recalled that the company decided to reduce its capital last year by returning to shareholders 3/4 of each £1 share. The increased profit is the outcoma of improved conditions generally and to the exit of the Sun last year as an opposition paper. Th© company appears to be in a very sound position. While the shares are not in great demand, thfey are regarded as being worth more than double par value at 38/3". The company's trading results for the past eight years have .been as follow:—

Woolworth— rColes Merger. It is reported that the directors of Woolworths, Ltd., 'and G. J. Coles, Ltd., are negotiating to combine these two chain-store companies. While it is usually regarded as part of the biisiness methods of chain stores to avoid direct competition with each other, o merger between these two would have the effect of extending their trading activities. "What* is more iniportant, however, is the opportunity for large buying orders, on which this type of store relies for its lower prices. The total capital of the two companies amounts to approximately £3,000,000, and it is suggested that a holding company may be formed to take over the assets. Wilson's (N.Z.) Portland Cement During the week nnder review the directors of Wilsons (N.Z.) Portland Cement, Ltd., have recommended the payment of a final dividend of 9d per share. This makes the total distribntion for the year 1/6 per share, or 15 per. cent. A jubilee bonus of 5/- per share or 50 per cent was paid j.ast

year. Six parcels of this company's shares were traded during the week at prices ranging from '32/6 %to 33/2. Trading returns for the past nine years are as follow. —

x Not ineluding bonus of 5/- per share. Taupiri Coal

The accounts of Taupiri Coal Hines Ltd., for the year ended Mqrch 31 last show a net profit of £7,183 after allowing for depreciation, and coinpares with £8,042 for the previous period. A dividend at the unchaiiged rato of 1 /- for share has beon declared. Ther* was very little trading in tlie coal section, "Westport and WestportBtockton being the only issue traded. Uno parcel of the former sold at 24/'3, which is 4d firmer on last week's rate. Wcstport-Stockton ordinary cbanged hands at 2/8 and 2/9, while the preference issue liad business at 4/9. The following table gives the liigliest and lowest prices and, in brackets, the number of parcels which changed hands on New Zealand stock exchanges during the past week: — GOVT. STOCIiS AND BONDS.—

£ p.c. £ 1930 54,710 7 91,322 1931 45,550 6 92,416 1932 39,009 5 73,200 1933 31,607 5 75,682 1934 38,723 5 85,280 , 1935 39,886 5 81,478 1936 . 47,695 6 93,323 1937 ' 48,006 7* 103,895

Net Profit Dividend Reserves

£ p.c. £ 1928 88,245 10 166,033 1929 85,586 v 10 194,082 1930 89,955 12| 210,865 1931 74,182 12i 211,698 1932 62, 956 10 215,984 1933 39,999 10 196,312 1934 . 45,743 10 212,380 1935 47,243 13-2 218,726 1936 53,228 lox 77,352

Net Profit. Dividend Reserves

HigheBfe Lowest £ 3 d £ "s d Inscr. Stock at 3£ p.o. 1953-57 (2) 99 0 0 98 10 0 Inscr. Stock at 3J p.c. 1939-52 (4) . 102 10 0 Inscr. Stock at 4 p.c. * 1943-46 (11) ......... 103 ,5 0 102 IT 6 Inscr. Stock, 4 p.c. 1946-49 (2) 1Q3 0 0 Inscr. Stock, 4' p.c. 1952-55 (5) 104 10 0 104 6 0 Govt. 'Bonds' at 4 p.o. 1952-55 104 10 0

Com. of Aust (ord) (7) 19 4 19 3 Nat. of Aust. (con.) ... 7 17° 0 Nat of New Zealand ... 3 2 6 New South Wales ...... 37 12 6 N.Z. (ord.) (20) 2 4 0 2 3 9 N.Z. (d. mort) (7) ....... 16 6 Union of Aust (2) ...... 11-5 0 11 4 0

BANKS.

South British 4 14 0 Standard, 2 19 0

INSURANCES.

Dalgety's Ltd. (2) 11 2. 6 11 1 6 Goldsb rough Mort (2) 118 6 1 18 3 Abraham Williams ... 3 0 0 Guarantee Corp (3) .... 4' 9 N.Z. Loan Merc. (2) 50 0 0 . Wright Stephenson ... 1. 0 9

LOAN AND AGENCY.

N.Z. Refrig. (£1) ...... 19 5 N.Z. Refrig (10) 9 0 8 11,

FROZEN MEAT.

Auckland Gas (contr.) 15 0 Auckland (2), 10 6 Wellington 1 15 6 SHIPPING.— Huddart Parker 2 0 0 P. and O. Def 2 10 Devonport Ferry 10 6 North'n .Steamship (2) 4 8

GAS.

Westpo'rt 14 3 Westpoit Stockton (ord) (3) 2 9 2 8 West. Slkton (pref) (2) 4 9"

COAL.

Tariugamntu .......... 15 6

TIMBER.

Kaiapoi (pref) 15 0 Yarra Falls 2 16

WOOLLENS.

Dominion 2 2 6 New Zealand (19) 3 16 2 19 5 Staples (2) 1 16 6 1 16 0 Swan Brewery 1 11 10

BREWERIES.

Bycroft Ltd, 1 19 0 Burns Philp (3) 3 12 9 3 12 4i Aust. Glass (2) ...... 4 14 6 4 13 6 Berlei Ltd. 1 19 1 British Tobacco (6) 2 10 10 2 9 8 Broken Hill Pro. (34) 4 5 0 4 3 6

MISCELLANEOUS.

B.H. (contr.) (4) 3 18 11 3 17 6 G. J. Coles (48) 5 16 6 5 9 0 Colonial Sugar (2) 46 0 - 0 45 10 0 Consol. Brick and Pipe (10) 8 2 8 0 Dunlop Perdriau (6) ... 112 110 Elec. Zinc (4) 2 19 3 2 37 6 Elec. Zinc (pref) (11) 2 19 8 2 38 3 Peters Ice Cream 19 6 Hume Pipe (Aust) Ltd Ltd. (6) .I..: 19 9 19 5 Taranaki Oil (10) 5 1 4 11

(N.Z. Drug) 3 14 . Shillings Ltd (2) 16 % Northern Roller Mills 19 ' N.Z. Newspapers 1 IS fi Wilcox Mofilin 18 11 Wilson's Cement (6) .... 1 13 2 1 12 € Woolworths (N.Z.) (8) 8 2 6 7 19 0 Woolw'th (W.A.) ...... 6 18 0 Woolworths (Syd.) (7) 7 14 0 7 10 0 Woohvorths (rgts) (25) 5 3 6 4 19 6, Morts. Dock Ltd 12 8

Kempthorne Prosser

Martha (2) 19 0 18 0 Mt. Morgan (32) 15 3 14 11 Mt. Dyell (49; , 2 8 6 2 6 8 Big River (3) 1 6£ > Broken Hill South (38) 2 12 3 2 9 6

MINING