With Investors on the Change

Sun (Auckland), Volume I, Issue 191, 2 November 1927, Page 12

With Investors on the Change

THE WEEK REVIEWED | HEALTHY BUSINESS DONE By “XOON CALL." WEDNESDAY, 9 a.m. The past week has been one of quiet but healthy business on the ’Change. Inquiry has been well distributed over the various classes of securities, though the more questionable investments have for the most part been neglected. Banks have been maintained in good tone with Christchurch recording the bulk of the business. Union rights and fractions have seen frequent business on all 'Changes. Commercials of Australia continue strong in investors’ favour and were done up to 29s lOd. Xew South Wales are depressed and only two sales at £44 2s 6d were made over the period. Xew Zealands saw sales up to 58s. The insurance section has been quiet, with Dunedin doing the most of the business. Xations there saw three sales at 80s; Standards, three at 61s; | Xew Zealands, after seeing a sale on i Wednesday at 39s 3d, are slightly easier, j leaving the market yesterday afternoon with sellers at 39s and buyers at 38s 6d. ! Sales were made on the Auckland ’Change on Thursday and Saturday at the seller's price. South British have been quiet, and apart from a sale in Christchurch on Wednesday at 5Es lid (cum div.), have been idle. Buyers are now offering 56s 3d ex div. Among loan and agency shares DalI gety’s command attention, and, though not featured on the Auckland 'Change, find buyers in the South up to £l3 13s (cum div.). COALS IN GOOD TONE With the exception of Hikurangis and possibly Renowns, coals have maintained a strong tone over the week, with Pukemoris and Taupiris registering a particularly healthy note. The forfer have been done at £3 and the latter at 26s 9d. Sales Hikurangis (ord.), are recorded at 2s 9d. Waipas and Renowns are quietly steady with buyers at 15s 6d and Ss 3d respectively. Auckland Gas have weakened slightly over the week to see sales at 22s 9d. Timber shares continue mostly am. ng the not-wanteds. Kauris drew a buyer at 24s 3d yesterday with sellers asking 24s 6d. Leyland-O’Briens are sought at 355. MISCELLANEOUS QUIET Little movement of any note has taken place in the miscellaneous section over the week. Auckland Amusement have hardened up to buyers at 16s 9d and sellers at 17s 2d. Sanfords still command attention around par, but most other shares in this section are quiet. Mining, as usual, has helped considerably to swell Auckland’s list of sales over the week, wfith Occidental Unas the most frequent sellers at Is 5d for the contributing shares. Ohinemuris were done to 6s lOd. Moanataiaris are appreciably weaker, while Waihis have also eased slightly over the last day or so. A good tone prevails in the giltedged section, all 'Changes reporting business on a firm market. SYNTHETIC PETROL With so much talk in the air of the possibility of the discovery of payable oil in Australia and Xew Zealand, comes to hand further mention of the manufacture of synthetic petrol by the Germans. The product apparently does everything its promoters allege, except compete with the natural product on the question of price. The fact that it is reported to be seeking specially low freights and a substantial subsidy to find a market puts it for the time being out of the running as far as a competitor to the natural oil. In any case, except from a highly speculative point of view, there is little in The oil shares offering to the Xew Zealand investor at the present juncture. GROWTH OF BUILDING SOCIETIES While on the subject of investment from the smaller man’s point of view, it is worth while noting the remarkable hold the co-operative building society movement has taken in England. By the recent amalgamation of the Halifax permanent and the Halifax Equitable, England has a society with combined assets of over £40.000,000. Practically every town of importance in the centre and Xorth of England is covered by the society’s activities. The Halifax Permanent. -which was the largest in the world, has registered enormous expansion of business during the last ten years, and its annual income is eight times as great as in 1917. This is only an indication of how the movement has Taken on under a sound auditing system in both the British Isles and America during the past decade. Other similar institutions have registered a corresponding increase of business.