With Investors on lie Change

Sun (Auckland), Volume II, Issue 332, 18 April 1928, Page 12

With Investors on lie Change

MARKET REVIEWED FIRM TONE m BANKS By “NOON CALL” WEDNESDAY, 9 a.m. The strong demand for banks, insurances, and, in fact, all the recognised persistent revenueproducing scrip registered befo-e the Easter vacation. was fully maintained when the ’Change opened up again this week. TN banks, where scrip is not firm at -*• late rates, the market mostly has an upward tendency. This is particularly evident in Commercials of Australia, which sold prior to the holidays at 28s, but during the past two days on a

rising market throughout New Zealand reached 2Ss 6d in Auckland yesterday : afternoon. At Dunedin yesterday the scrip was done at 2Ss 4d. New Zealands ! maintain the strong tone registered at the j beginning of the month, a sale yesterday j . at 60s showing an improvement of 3d on i the rates ruling for the week ended April ! 4. E.S. and A. scrip also shows an ad- j vance of 5s compared with the last recorded Auckland sale, which rook place toward the close of last month. Nationals of New Zealand, sought at £7. the figure o: the last Auckland sale, are held for 2s 6d above that level. Other banks are firm. insurances are quiet at the moment, j though in this section also the principal : trend, if any, is upward. New Zea- i lands at 40s 6d are slightly weaker, but ! the difference is negligible. Nationals , are firmly held. The scrip moved up yes- i terday to see business recorded in 'this ! company’s home town at 15s lOd. Sellers ! are mostly hard to locate. A.P.A. scrip 1 is not active, but steady buyers are in at ; Ss. Loan and agency scrip keeps steady j with a healthj’ tone recorded in the i market for most shares. New Zealand ? Guarantee Corporation scrip has been a free seller during the last two days on a market ranging from Ss Id to Ss 2d. Westport Stocktons continue active, ! the ordinaries reaching 2s 6d in Christchurch yesterday, with the preference up to 3s lid in the same centre. The com-

pany’s balance sheet for last year disclosed a profit and this was undoubtedly responsible for 'the start of the upward movement. The scrip has still some way to go before reaching par at 10s. Timbers and woollens are idle and practically neglected. New Zealand Breweries register a strong tone, and sales yesterday were put through at Is 7£d in advance of the closing rates for the week ended April 4. Other brewery scrip is quiet. In the miscellaneous section little movement of any moment has taken place over the past few days. Taranaki Oils appear right out of favour with no buyers listed in Auckland. Haywards Pictures have moved up to see a sale at par. Wilsons Cements were done in Auckland yesterday at 3Ss. Wellington saw a par , cel dealt with at 2d in advance of that figure. The demand for gilt-edged securties is well maintained and steady business isrecorded at late rates. Return on Investments Below is a summary of sales made on the Auckland ’Change during Monday H.nd Tuesday of this week, giving a return on investment based on the latest dividend. In the case of Government and other redeemable securities ihe return includes redemption. The first column gives the figure at which the

latest sale was made on the Auckland ‘Change:—

Lates t Apor BANKS— Sale Return. s d. jy c Australasia, fractions 0 9 0 New Zealand . . 3 0 0 Com. of Australia INSURANCES— 1 8 6 3 New Zealand .. MISCELLANEOUS— 2 0 6 4 10 6 Auckland Gas . . . . 1 *>, 0 7 - Northern Steamship 0 1 <1 Holden s Motors 1 X 6 N.Z. Breweries 71 Hayward’s Pit-tures 1 Westport Stockton Coal 0 0 9 0 0 (ord.) 0 2 Wilsons Cement DEBENTURES— N.Z. War Loan, 1936, 1 18 0 5 5 3 51 per cent 100 10 0 5 S c, Ditto, 1938, 4i p.c. N.Z. Ins. Stk, 1933. 97 10 0 4 16 SI p.c 100 2 6 5 9 6