WITH INVESTORS ON THE ’CHANGE

Sun (Auckland), Volume 1, Issue 101, 20 July 1927, Page 2

WITH INVESTORS ON THE ’CHANGE

A DEAD WEEK MOST SECTIONS IDLE Wednesday, 10 a.m. Few weeks in 1927 have seen as little business on the ’Change as the one just closed. Some days the market was absolutely dead. The tendency, if any, in several sections, has been downward, and mining and banking, particularly, are easier. Commercial of Australia Banks came out of temporary obscurity early this week and were freely dealt with yesterday at 29s 6d. New South Wales scrip is weak, and yesterday saw sales at £45 2s 6d, compared with a market over £45 10s on Wednesday last. English, Scottish and Australian rights, after selling in the South up to 295, tend to fall in public favour, and little business has been reported. The insurance section continues in good tone, with Nationals sought after on a slightly firmer market.

Interest is given Loan and Agency shares by* the increasing activity in New Zealand Guaranteed Corp. registered at the Home exchanges of the company. Sales are recorded from Wellington up to 9s. Though confining its operations to what conservative investors would term speculative time-payment business, the company, approaching an interim dividend in August, appears worth consideration, especially when it is considered that on the present market the shares should be little short of £lO per annum for every £IOO invested. The inquiry* from Wellington weight also to the rumour that the company is recording an increased turnover, and an even better dividend would not be unexpected.

It seems now almost inevitable that Renowns should ease up a few points round about the time when a further call is made. Such proved the case again this week, and yesterday 13s paid shares were sought at ss, with sellers at 7s. Other coals are firm and any tendency is upward. Few sellers are quoting.

Timbers came back substantially during the week, and, whereas buyer's had been practically non est for several weeks, there are now steady buyers for four parcels. Bartholomews were dealt with at 19s 6d.

In the miscellaneous section Auckland Amusement have been checked in their downward rush. Dunedinites unloaded at 9s 9d and the market has now come back to buyers at -11 s.

Locally the miscellaneous section has been dead, and even in Christchurch the only centre which put through any substantial business, there has been little doing with this class of scrip. Breweries are in better tone and, compared with recent weeks, frequent business has been done on an improving market. Mining is depressed and idle, with the tendency generally downward. Moanataiaris lead the way from sales at 3s Id to others at 2s Bd. LuckyShot are even weaker, and buyers’ quotations have fallen well below sellers’ ideas of value.

Waihis provide the only bright spot to the section, and a firm market saw sales at ISs 9d yesterday. Government and local body debentures remain in good tone, and frequent sales to conservative investors are recorded on a firm market.