With Investors on the ’Change

Sun (Auckland), Volume II, Issue 355, 16 May 1928, Page 14

With Investors on the ’Change

REVIEW OF THE WEEK STRONG TONE IN MARKET By Noon Call. Wednesday, 9 a.m. Not for many months has there been such a healthy tone on 'Change as that registered over the past week. Increased confidence is shown in all the better class industrials, and interests generally are wider-spread. „ Banks are comparatively quiet with the volume of trading small. A sustained healthy demand is recorded for all shares, however, with no sign .of a weakening in the market. Commercials of Australia have an upward tendency and yesterday the ordinaries were done in Christchurch at 28s 9d. At the moment it is hard to see, however, that they can go much higher. New Zealands have seen steady business over the week on a market which opened on Wednesday last with sales at 60s to 60s 3d in various centres, but. closed with a strong tone yesterday, with sellers at 60s 9d supported by buyers at 60s 3d. Unions of Australia have also improved over the week from sales at £l4 16s 6d to see business at £l4 19s in Christchurch yesterday. Other shares in this section are steady. Insurances have been quiet, but the general tone of the market is good. South British have hardened appreciably and sellers at yesterday afternoon’s closing call at 63s were supported by buyers at 60s. A.P.A. scrip was dealt with early in the week at Bs. It is interesting to note in connection with this company that it recently acquired the life insurance business of the Life Insurance Company of Australia, Ltd. The consideration is reported to have been £54,512, to be paid within three months after the courts have sanctioned the purchase. A healthy tone is registered in the loan and agency section, the market registering, if anything, an upward tendency as a result of the better times being experienced by the companies listed here. It is worthy of note that this is reflected in balance sheets published recently. Wright, Stephenson, Ltd., provided a typical instance during the past week in the publication of a balance sheet showing net profits registering an increase of approximately 30 per cent, on those for the previous year. Coals are quiet. Hikurangis provided practically the only noticeable movement over the week, the preference scrip registering a decided upward movement to see the preference reach a new late high level at 8s 3d and the A preference change hands at 7s. Renowns are experiencing a period of temporary neglect. Waipas are weak with no sellers. Most other shares in this section meet with a steady demand on a firm market. Auckland Gas remains steady at last week’s closing levels. Shipping is quiet. In timbers, Kauris have eased 3d to 21 6d, the weakness coming from Melbourne. The scrip meets with a quiet demand at the latter figure. Breweries have an easier tendency and are practically neglected by Northern investors. In the South New Zealands were dealt with at 45s on Thursday. The miscellaneous section has seen the biggest volume of business registered for many months, the trend of the market indicating that investors are evincing increased faith in the industrial future of the country.

British Tobaccos were done in Auckland at 41s, but the same day in Christchurch three sales were reported at 42s 3d. Colonial Sugars have a decidedly firmer tone, and moved up from sales at £57 last week to see buyers in at £59 10s and sellers asking £6l. Kempthorne, Prossers New Zealand Drug, Ltd., have also registered a hardening tendency, sales at 69 3s registering an improvement of 9d on the last recorded Auckland sale. More attention has been paid to Sanford, Ltd., during the past two days. Tonson Garlicks have been dealt with at 12s. Wilsons Cemetnts are comparatively quiet on a market registering, if anything, an easier tendency. Waihis in the mining section continue to command attention on a firm market. Ohinemuris are also in demand on a market firm at 7s. Mount Lyells register a slight improvement on last week’s closing rates. Other mining is weak and neglected. Steady business continues to be done in gilt-edged securities, with the market maintaining a healthy ton.e RETURN ON INVESTMENTS

Below is a summary of the sales made on the Auckland ’Change for the week ended May 15, giving an approximate 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 sale was made on the Auckland ’Change.

£ : s. d. £ s. d. Latest. Approx. Sale. Return. BANKS— Com. of Austral. (5s paid) 0 12 4 6 1 7 V 3 5 10 Eng., Scot., & Aus. 8 6 0 4 10 4 New Zealand .. .. INSURANCES— 3 0 3 15 0 8 0 '— New Zealand .. .. 2 1 3 4 8 10 LOAN AND AGENCYpref.) 0 14 6 8 i> 6 COALS — Taupiri 1 7 6 7 5 5 Hikurangi (pref.) .. 8 — Ditto A (pref.) .. — GAS— Auckland (paid) SHIPPING — 1 3 3 6 17 7 Northern Steam (pd.) 0 15 9 7 7 2 Ditto (con.) .. .. 0 7 9 7 4 6 TIMBERS — Kauri 1 1 6 6 19 7 MISCELLANEOUS— Sanford, Ltd. (ord.) 0 19 6 7 3 7 Sharland and Co. .. 1 0 3 6 18 3 Wilsons Cement 1 19 0 b 2 9 Hayward’s Pictures . 1 0 0 9 0 0 British Tobacco 2 1 0 4 17 6 N.Z. Drug 3 9 3 5 15 6 N.Z. Refrig, (con.) . 0 8 4 9 0 0 N.Z. Express .. 0 19 6 S N.Z. Farmers’ Fert. 4 18 Sa,nford (pref.) 1 0 3 6 18 3 ToUSon Garlick DEBENTURES— 0 12 0 N.Z. Breweries 1 3 6 — 65 p.c N.Z. Ins. Stock, 103 0 0 5 19 3 1933, 55 P-c 100 15 0 5 4 3 Ditto, 1936, 5| p.c. N.Z. War Loan, 1938, 101 0 0 5 6 11 97 17 6 4 15 6 Ditto, 1936, 55 p.c. 101 5 0 a 6 11