With Investors on the Change

Sun (Auckland), Volume I, Issue 185, 26 October 1927, Page 12

With Investors on the Change

THE WEEK REVIEWED MARKET IN GOOD TONE (By Noon Call.) WEDNESDAY, 9 a.m. | While the volume of business put \ through bn the Change over the week | has not been big, there has been a healthy undercurrent in the market, indicating a demand for the better classes of securities. . , . .. In banks, the reaction in regard to New South Wales has been maintained, and sellers at £44 10s yesterday afternoon were not supported. Four sales of this scrip were reported by Southern ex- ; changes early in the period under review ; at from £44 12s 6d, weakening to £44 10s ; in Wellington on Thursday. Commer- j cials of Australia are among the best ; sellers, seeing sales in all centres up to 28s 6d. Other banks remain in good tone, meeting with a steady demand. Insurances registered greater activity over the week and New’ Zealands. South British and Nationals have seen frequent sales. Auckland has been the principal buyer of South British on a market ranging from 57s 6d to 58s (cum. div.). and Dunedin has been operating in Nationals at SOs. The market for New Zealands has remained steady around 39s 3d. Pukemiros in Demand With the exception of Pukemiros, which were done on the Auckland ’Change at £3, coals have been idle, though the market for most shares in this section remains firm at current quotations. Hikurangis continue to register a weakening tendency. Sellers of Waipas have also reduced* their demands over the week, and at 16s yesterday afternoon were not t supported. Shipping is quiet, though the market I over the week has remained steady at : current quotations. Huddart-Parkers have been done at 475, and Northern Steams at 14s 9d. Union Steam (pref.) were done at 20s 3d in Christchurch on Thursday. Timbers and Woollens are weak and depressed. Fertilisers Weak In Miscellaneous. Auckland Amusement Parks continue to command attention on a market in the vicinity of 16s 6d. British Tobaccos have eased slightly from buyers at 58s 6d to buyers at 5Ss. One sale is reported at 5Ss 6d. N.Z. Fertilisers are weak and idle, the continuance of the low prices for fertilisers, and the general adoption of the assumption that there can be little or no margin in the business at the present time has driven buyers off the market. Sanfords, Ltd., meet with a fairly steady demand arourfd the par value of the shares and, at that figure, appear to be fair value, offering a reasonable return on investment. Taranaki Oils have improved over the week to leave the ’Change last evening with sellers 9s 6d and buyers 8s 6d. Wilsons Cement are quiet but firm. Offering a return of little more than £5 12s on the present market, while a reasonably safe investment, it is hard to see that there w’ill be any great increase in dividends. It is interesting to note that the company formed to exploit the Whangarei cement deposits has not made very rapid progress toward operating on the market. Arrangements for the layout of the buildings and the ordering of machinery are reported, however, to be well in hand, and, if talk counts for anything, the company when it starts should operate in a fairly big way. Position of Mining In mining Waihis continue firm w’ith sales recorded up to 22s 6d. Moanataiaris have brightened up and sales of the paid-ups are recorded up to 2s Sd. This scrip at the present moment offers one of the best speculative inducements. Ohinemuris are slightly better than last week’s market. Occidental-Unas continue fairly steady with most of the weaker holders cleaned up. A steady demand for Government stocks and bonds has set in over the week, and steady business is recorded in this section on a firm market.