WITH INVESTORS ON THE 'CHANGE

Sun (Auckland), Volume 1, Issue 77, 22 June 1927, Page 2

WITH INVESTORS ON THE 'CHANGE

BUSINESS OF THE WEEK RENOWN PROSPECTS For a sound investment offering almost certain profit on capital expenditure and assured profitable dividends, the Renown Collie Vies at 6s for 12s paid shares have, on paper, been one of the rosiest propositions dealt with on the ’Change during the week. Indications are that the company will be placing the coal on the market before the end of the year, and with the working costs for the first few years, owing to the accessibility of the coal, estimated extremely low, even against competition a dividend should be possible at the end of the first year’s operations.

Operators buying in now at 6s below par start with equal to three years’ 10 per cent, dividend ahead of the original shareholders. Further, it must be remembered that shares in Pukemiro, adjoining Renown, were down to almost 10s before the mine started operations, and to-day are quoted at £3. The feature of the mining section has been the further advance of Waihis and Waihi Junctions, the former improving to sell at 19s, and Junction stocks firming to a market in the vicinity of Is 6d. The improvement can be attributed to the report of better prospects in lower levels. Kawaraus have been active in the four New Zealand centres, approximately 25 sales being recorded, the market during the period, however, falling Is to sales at Is 7d yesterday. Many small non-quotable sales have also taken place among speculators wishing to have a leg in should anything good be struck when the river reaches its lower level. Alburnias have been active during the week, but eased from sales at 4s 9d to 4s 3d. Moanataiaris are in better demand, and Lucky Shot shares are also inclined to improve. Except for Union shares, approaching a dividend, have improved 3s 6d during the week, bank scrip is generally easier. The insurance section remains firm with the demand chiefly for New Zealand and South British. Auckland Gas stocks continue in good tone with the market again registering a firming tendency. Northern Steam shares are firmer, the paid scrip advancing 3d and contributing 2d during the past week. Little movement of any note has taken place in the miscellaneous section. Kempthorne Prosser are firm, and buyers have improved Is on last week. Taranaki Oils are weak. Government and local body bonds and debentures are in good tone, with buyers’ quotations tending to firm, and sellers withdrawing. Inscribed stock has been dealt with freely in all centres, the 1936 5£ per cent, improving to sell at £lOl ss. 1938, 4£ per cent., sold to £ 97.