With Investors on the ’Change

Sun (Auckland), Volume I, Issue 255, 18 January 1928, Page 12

With Investors on the ’Change

THE WEEK REVIEWED DEMAND FOR BANKS By “Noon Call.’* Wednesday, 9 a.m. With the exception of Christchurch, which has reported healthy business. New Zealand ’Changes have been quiet over the past week. No sales have been reported from Dunedin, while Wellington was only heard of on Wednesday and Thursday. BANKS accounted for the bulk of the business, New Zealands and National of New Zealands leading the way with eight and seven registered sales respectively. The former touched 59s 6d in Auckland yesterday, but fell again, to see a further sale at the week’s firm price of 59s 3d, Christchurch also puUing through three parcels at the lower figure. Nationals, on the last sale, show an improvement of Is on the week’s opening price. New South Wales have been dealt with on a fluctuating market starting at £46 2s 6d, dropping to £45 15s, and coming back to see the last sale at £46 ss. Unions saw three sales at from £l4 12s to £l4 13s. Commercials have eased slightly from sales at 29s 6d to a market around 29s 3d. Coats In Good Tone Pukemiro Coals continue to stand high in public favour, and a further improvement was registered over the week, when the scrip was dealt with at 635. Waipas are also slightly better, and were done at 16s 6d on the Auckland ’Change yesterday. Increased inquiry is registered for Renowns, which are sought at 11s. with sellers at 14s. Huddart-Parkers are firm, with buyers at 48s 9d, and no sellers. Other shipping scrip has been practically idle over the week, though little change in the market has taken place. Insurances, though In good tone, are quiet and a parcel of Nationals at 15s 6d, and two of New Zealands at 40s 9d and 41s covers the activity in that section during the period under review. Dalgety’s Prospects In the loan and agency section. Dalgetys have improved to be dealt with in Auckland yesterday at £l3 7s 6d. Even at this figure the scrip appears worthy of consideration, and the investment assessed on a basis of the last dividend allows for a return of £6 7s Id. A study of recent balance sheets of this company reveal it to be in a solid position, registering healthy growth. It has not pail less than 8 per cent, on the ordinary scrip since 1910, while, for the last four years, the annual pay-out to ordinary shareholders has been assessed on a 17 per cent, basis. With recent healthy expansion of operations in Australia and Africa, in conjunction with a sound conservative policy of administration there appears no reason why even better results should not be expected in the future. Goldsbrough Mort have also been active in the loan and agency section over the week, business being confined mostly to Christchurch. Six sales were recorded on a market fairly firm in the vicinity of 475. Oils Out Of Favour Taranaki Oils are again suffering from one of their periodical falls from speculators’ favour, and sellers at 10s 3d yesterday afternoon failed to draw a higher offer than 9s. New Zealand Refrigerating have been featured as the most active of the industrials, with business mostly being done in the South. Eleven sales of the contributing shares were reported on a market opening at 8s 4d, and rising to see two Christchurch sales at 9s 2d on Friday, but weakening aga n to see a sale in Auckland on the afternoon of the same day at 3s lOd. Wilsons Cements continue to find firm buyers at 38s. Local body debentures are practically neglected at the moment, but a strong demand continues to be registered for Government bonds and stocks. Mining incites little interest. With no good news coming to hand from the Thames the market is dull and practically idle. Return On Investments Below is a summary of some of the principal sales made on New Zealand ’Changes during the week, giving the return on investment based on the latest dividend. In the case of Government and other redeemable securities the return includes redemption. The first column gives the figures at which the latest sales were made during the week. Latest Sale. Return. £ s. d. £ s. a.

BANKS— Com. of Australia . 1 9 3 5 2 8 New Zealand . . 19 4 16 9 Australasia 14 14 6 4 In L Nat. of N.Z 6 lb 0 • b 3 A New South Wales .. 46 b 0 4 6 6 Union, of Aust. .. 14 13 0 b 2 4 INSURANCE — New* Zealand .. .. 2 1 0 4 5 4 National of N.Z. .. 0 LOAN AND AGENCY— lo 6 b 0 l» Dalgety and Co. .. 13 6 0 6 7 10 Goldsbrough Mort . . 2 7 0 6 7 7 Nat. Mort., Agency 3 12 0 6 18 11 N.Z. Guar. Corp. .. COAL — 0 8 11 8 19 b Pukemiro 3 3 0 9 7 4 SHIPPING— Huddart-Parker TIMBERS— 2 S 9 5 3 Parker, Lamb .. . • BREWERIES— 0 17 6 G 17 2 Staples 2 0 ft 5 0 ft New Zealand .. .. MISCELLANEOUS— 1 6 4 16 ° N.Z. Refrigerating (£1 paid) 0 18 0 11 1 Ditto (10s paid) . . 0 8 10 b 13 ('olonial Sugar . . . . 54 10 0 4 12 Auckland Gas . . . . 1 3 6 16 Wilsons Cement DEBENTURES— 1 IS 0 b 3 N.Z. War Loan, 41 p.c., 1941 .. .. N.Z. Ins. Stock, 5£ 96 10 0 4 17 5 p.c., 1933 . . . . 101 5 0 5 0 Ditto, 4i p.c., 1938 Bor. Mt. Eden, 1961, 96 17 6 4 17 9 5i p.c 100 10 0 5 14 4