THE WEEK REVIEWED.

Auckland Star, Volume LIX, Issue 225, 22 September 1928, Page 4

THE WEEK REVIEWED.

MARKET MUCH STRONGER.

BETTER PRICES OFFERING,

ADVANCE IN LOAN AND

MERCANTILE

BANKS AND INSURANCE POPULAR.

Several lines showed a further advance in price on 'Change during the past week. The most noticeable rise was in N.Z. Loan and Mercantile Agency ordinary stock, sales being made at £115, an advance of 40/ upon the previous transaction. Dalgety, Ltd., had occasional inquiry at £15, but no sales were made at that price. Abraham Williams preference shares firmed to buyers at £4 6/, but sellers asked another five shillings. N.Z. Farmers' Fertiliser shares also improved, being wanted at £4 6/ yesterday afternoon. Farmers' Auctioneering ordinary issue is another line that has advanced, being now wanted at £2 15/, and N.Z. Refrigerating shares sold at 19/3. Woollen company shares had a little more inquiry this week, but the only transaction recorded was in Kaiapoi contributing issue at 3/10. Wellington Woollen had- steady inquiry at £6 10/, and during the last couple of days, buyers offered an extra two shillings for the preference issue. Auckland Gas shares had a number of sales at £1 3/1, which rate could still be got. Huddart-Parker Steam ordinary issue sold at £2 9/ prior to payment of the dividend and later sold at £2 8/3 (ex div.) Howard Smith, Ltd, are offered (ex div. just paid) at £1 6/6, and for P. and O. Deferred Stock £235 is the regular buying quotation. The good report from the Pukemiro Collieries Co. caused shares to advance in price from buyers at £3 10/ to £3 14/, but as there are no quoted sellers sales have not resulted. Renown Collieries are firmer this week, sales having taken place at 12/6 and 13/, as compared with buyers at 9/ a few weeks ago. Hikurangi preference shares are still wanted at 9/9 and 8/9 for the respective issues, but sellers of ordinary shares lowered their price to 5/11, and now buyers only offer 5/6. Westport Stockton Coal ordinary issue sold at 3/9, and for Westports £1 10/6 was paid. Waipa shares are still offered at 14/, but latterly buyers have not quoted. Inquiry set in this week for shares in the Victoria-Nyanza Sugar Co., £2 1/ being offered, but yesterday £2 4/ was quoted, without a seller being disclosed. Insurance shares had more business. New Zealand sold at £2 4/6 and yesterday £2 5/ was paid. Queensland Insurance shares < had sales at £3 5/3, biit South British eased a little, transactions taking place at I £3 3/ and £3 2/9. Steady inquiry continues for United Insurance shares at £11. j Banking corporation shares are as popular as ever. Union Banks were placed this week at £15 7/, and quite a number of transactions took place in Bank of New Zealand at £3 1/3. A sale was made of shares in the Queensland National Bank at £9 1/6. Buyers of English, Scottish and Australian Bank shares advanced their offers to £8 15/, and later sales were made at £8 16/. National Bank of Australasia shares are. wanted at £19 l/, while the contributing issue could now be sold at £9 11/. Bank of New South Wales shares firmed 5/, buyers now offering £50 15/. N.Z. Breweries eased earlier in the week, sales being made at £2 11/, but yesterday £2 12/6 was paid, and there were buyers left at sixpence under that figure. Breweries (debentures) sold, and are still wanted, at £1 4/2. Business took place yesterday afternoon 4n Whittome, Stevenson shares at £2 8/, and during the week £2 2/9 was paid for Union Oil and Candle shares. Sales were made of British Tobacco shares at £2 4/ once more. Taranaki Oil shares seem ?. little better, sales being made yesterday at 8/6. Dunlop Rubber shares are not quite so firm, being offered at the third call yesterday at £1 3/6. Electrolytic Zinc preference issue are wanted at £1 13/6, and forTHount Lyells £1 15/6 was paid. Waihi shares sold at 12/10, and -later several lines were placed at 13/. Ohinemuri Mines are wanted at 7/6 for the ordinary and 8/6 for the preference shares. The inquiry for 4% per cent War Loans free of income tax died away this week, with the exception that £99 could be got for the issue maturing in 1930. Soldiers' Loan could be placed at £100 17/6, and, the Government 5% per cent Loan. 1936, are inquired for at £101, for both issues. Canterbury Farmers' 6% per cent debentures could now be placed at £87. Par is obtainable for both Auckland and Hamilton Fire Board 6 per cent debentures, but sellers ask £105 and £104, respectively.