With Investors on the ’Change

Sun (Auckland), Volume I, Issue 249, 11 January 1928, Page 10

With Investors on the ’Change

SHARE MARKET REVIEWED DEMAND FOR DEBENTURES By “NOOX CALL” Wednesday, 9 a.m. Business on 'Change opened up for 1928 this week with a healthy tone in the market for most of the better classes of securities. There is every indication that the next few months should be ones of steady business. THE demand for gilt-edged securities so much in evidence toward the close of 1927, is again a prominent factor on the 'Change, and, as yet, there seems to be a distinct disinclination to give much attention to the more speculative classes of investments. Government Bonds and Stocks are meeting a firm demand with sellers hard to locate, or. at least, not prepared to quote on the present market. Localbody debentures, where sellers are prepared to meet the market, also find a ready sale. WAITEMATA POWER-BOARD LOAN In this respect the demands of investors for a safe investment that will return a steady rate of interest with a minimum of risk, is indicated by the ready response accorded the issue of the Waltemata Power Board’s loan of £50,000. The issue was oversubscribed within a fortnight. Applications were received from, all parts of the Dominion, including the following centres: Auckland. £17,400; Wellington, £8,700; Dunedin, £12,100; Christchurch, £4,100; Timaru, £1,700; Invercargill, £5,100, Wanganui, £400; Thames, £SOO. Banking and insurance scrip is firm at December’s closing rates, and a healthy demand is registered. Bank of N.Z.’s have been active since the ’Change opened around 59s 3d, the market closing last evening with a firming tendency. Coals in Strong Tone In coals, Hikurangi preference have advanced 3d on December’s closing rates, buyers now offering 7s 6d compared with 7s 3d less than three weeks ago. The section is one of the strongest on the list and firm buyers are in for most shares, with sellers well in the minority. Renowns register a firming tendency. The shipping section is quiet on a practically unchanged market. Dalgetys, at £l3 3s 6d, have been dealt with in the loan and agency section. Guarantee Corps, are also in demands in the South, and a sale at 8s lid is recorded. , ~, Timbers are weak and idle. Woollens are neglected. Taranaki Oils Firm Auckland Amusement Parks have eased slightly on the December market, and a sale was put through yesterday at 15s. A steady demand exists for New Zealand Fertilisers and buyers were offering £4 Is yesterday afternoon compared with £4 0s 6d when the ’Change closed in December. Wilsons Cements, with buyers at 375, are 6d better than December’s closing market. Taranaki Oils are firm, with buyers offering 10s 6d and sellers asking 11s 6d. Other shares in the miscellaneous section are practically unaltered, receiving only nominal attention. Mining, generally, is depressed and ne Ohinemuris opened up in strong tone and a sale was recorded on Change at Bs. but the market quickly eased to see sellers at Ss supported by buyers at «s 6d. FOREIGN EXCHANGES By Cable.—Press Association^ — Copyright. LONDON, Monday. < The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on

(Quotations on January 5 in parentheses.) Copper.—Spot, £6l 18s JJd (£62 Is lOid); three months, £6l 16s 10*d (£62 Is 10*d). Lead.—Spot, £2l 18s 9d (£2l 18s 9d); three months, £22 6s 3d (£22 7s 6d). Spelter.—Spot, £26 3s (£26 ss); three months, £26 (£26 ss). Tin.—Spot, £258 Is 3d (£256 17s 6d); three months, £257 6s 3d (£256 8s 9d). Silver. —Standard, 26Jd (26 11-16 d); per oz; fine, 28 5-8 d (28 7-8 d). Bradford Tops The market is firm and tending upward, with fair business passing. Wheat Cargoes are steady at late rates, with slow inquiry. Parcels are in small demand and prices are unchanged. Liverpool futures: March delivery, 10s 3>.d per cental; May, 10s 2£d; July, 10s 2 3-Bd.—A. and N.Z.-Sun. MINING NEWS KURANUI. —The manager reports: “The drive on the leader in the footwall of the main reef has been advanced 3ft for the week, which makes a total of 104 ft from the crosscut. The leader still averages about Bin wide, and the quartz broken looks very promising. The country is all that could be desired for making gold. The crosscut from the surface has been extended a further sft for the week, making a total of* 80ft from the starting point. The country here is of a very poor class, and no quartz has been met with yet.” MONEY TO LEND

January 5 and par: — Jan. 9. Jan. 5 Par. 34.94 34.92 5.045 124.02 124.02 18.11 18.11 18.159 18.34 18.34 Copenhagen, kr. . 18.20 18.20 20.48 92.17 92.34 Prague, kr. . . . 104 7-16 1642 Calcutta, pence IS 1-8 24 Yokohama, pence 24i Hongkong, pence — 4.SS* 4.8Si 4.871 12.091 12.09* Batavia, fl. . . • 12.09 l-.0<i The Metal Markets