With Investors on the ’Change

Sun (Auckland), Volume I, Issue 285, 22 February 1928, Page 12

With Investors on the ’Change

THE WEEK REVIEWED MARKET IN GOOD TONE (By “NOON CALL.”) WEDNESDAY, 9 a.m. hanks and insurances. uuiex oua banks anu registered over the Ak h thouoh most of the better classes of securities are in good tone. New Zealand banks have improved slightly and. y at te the ay L°aernoon at BS. M. bank Ue s n hares S ar e e S quleOy steady and reglschurch,t^where V actfvity 1* presented practically Ute biggest^ernen ton a market ftl Seli a ers 2 of insurances'are mostly hard rn locate South British scrip has seen the*°nvost business in this section he market moving up 6d to 58s over ui week Nationals are firm, registering, n Anything; a rising tendency. New Zealand s are in constant demand at 40s 6d. A nuiet tone has been registered in the loan and agency section, and business in the South was limited practically to » one s «i e of N.Z. Loan and Mercs, (ord.) in Wellington at £»7 10s. Corp. scrip a a njer through "n Wellington at 8s 9d, while seller? in Auckland at the afternoon call at 8s lid were supported by buyers at 83 Co ais are quiet though most shares qre sought on a firm market. Business over th? week was confined to a sale of Wainas at 17s 3d in Auckland, and one KSkfons at is 3d at Wellington "Most shipping shares register a firm tone, but actual business over the week has been confined to Auckland. Hud dart-Parkers continue to weaken and left the ’Change yesterday afternoon with sellers unsupported at 50s, a^ e A'Vi g sellers at 51s 9d a week ago, and the Kit recorded sale which took place at that figure in Wellington on February 10. Interest in timbers has declined during the week, and one sale of LeylandO'Brien’s at 34s 4d constitutes the only busines. The only supported wjnp yesterday afternoon were Kauris, which were S °Woollens 2 and' breweries are quiet and receiving only a limited amount of attention on a practically unchanged maiin Taranaki Oils has been revived over the week, and the scrip re Sistprs activity on most New Zealand ’Changes on a market ranging between 10s and 10s 6d. As a spec the scrip offers a certain inducement for, undoubtedly, if favourable results should follow the operations of the company in tb© Poverty Bay district considerably enhanced values would rule. As an investment, however, even the most optimistic could bring forward few convincing arguments. Steady business has been done in miscellaneous shares over the week, and the section generally has a healthy tone. Sanfords are receiving slightly more attention, though only one sale of the or-

dinaries at 19s 44d was recorded. Mount Lyells have improved during the past two or three days, and yesterday the scrip was sought by firm buyers at 29s 9d with sellers asking 31s. Waihis have registered slightly more activity, but the rest of the mining section remains depressed and practically neglected, and there appears little hope of an immediate improvement . Quiet but steady trading is reported in Government and local body debentures, though the market for 1930 and IJ3O bonds and stocks still maintains an easier tendency compared with the month s opening rates. RETURN ON INVESTMENT Below is a summary of sales made on the Auckland ’Change for the week ended February 21, giving the approximate return on investment based on the latest dividend. In the case of Government and other redeemable securities the return includes redemption. The first colmun gives the figures at which the latest sale was made on the Auckland ’Change over the week;— Latest Approx Price. Return. £ s. d. £ s. d. BANKS— Australasia .. .. 15 0 0 413 4 Com. ol’ Australia .. 1 7 8 5 8 5 Nat. of N.Z 6 19 6 5 0 4 N.S.W 47 12 6 4 4 6 New Zealand .... 218 9 417 S INSURANCE— National 0 15 9 New Zealand .... 2 0 6 4 10 6 South British .... 2 IS 0 3 17 7 LOAN AND AGENCY— Nat. ML and Agency 3.14 0 615 2 Farmers’ Co-op. A. 0 14 9 8 2 8 GAS — Auckland 1 2 3 7 3 10 COAL— Waipa 0 17 3 8 13 11 SHIPPING— Devonport Steam .. 1 4 6 6 2 5 Howard, Smith . . 1 8 9 8 6 11 Union Steam (pref) 1 0 0 5 10 0 Northern Steam (pd) 0 15 0 7 14 8 TIMBER— Leyland-O’Brien .. 1 14 9 4 15 11 BREWERIES— Staples 1 17 1 5 7 10 MISCELLANEOUS— British Tobacco .. 1 19 9 6 0 9 Elec. Zinc (pref) .. 113 1 7 5 1 Hayward’s Pictures 1 8 0 9 9 6 N.Z. Refrig 0 8 0 9 7 6 Sanford 0 19 44 7 4 6 Taranaki Oil .... 0 10 6 . Thames Theatre .. 0 18 0 10 0 0 Whit.-Stevenson .. 2 6 0 7 12 2 Wilsons Cement .. IIS 0 5 5 3 DEBENTURES— N.Z. War Loan, 1938, 44 p.c. .. 97 5 0 4 16 0 Ditto, 1935, 44 p.c. 97 5 0 4 15 7 Ditto, 1933, 54 p.c. 101 0 0 5 5 4 Ditto, 1936, 54 p.c. 101 2 6 5 6 7 N.Z. Insc. Stock, 1933, 54 p.c. .. 101 2 6 5 4 7 N.Z. Breweries .... 1 2 10 8 5 2* ♦This does not include redemption.