Strong Tone in Banks

Sun (Auckland), Volume II, Issue 363, 25 May 1928, Page 12

Strong Tone in Banks

BUSINESS ON ’CHANGE A STRONG tone is registered in banks on ’Change. Timbers, following the recent publication of balance sheets, are weaker than ever.

In banks. Australian of Commerce scrip has a slightly firmer tone. Nationals of New Zealand have moved up to find sellers at £7 5s supported by buyers at £7 4s. New Zealands are steady and were dealt with at 60s 3d at this morning’s early call. Most other shares in this section are steady, with any movement upward. Insurances are firm, the market for New Zealands and South British registering an upward movement. Coals remain practically unchanged, with Hikurangis seeing steady business at recent figures. Shipping is quiet. In breweries, New Zealands are easier, wijh sale at 42s 2d. Other shares in this section are not quoted. Miscellaneous shares are mostly steady. Oils are easier and appear to be falling back to last week's levels. New Zealand Farmers’ Fertilisers are also weaker, with sellers at 92s unsupported. Kempthorne Prosser’s New

Zealand, Drug, Ltd., are active on a slightly firmer market. A wide range of Government and local body debentures continue to be sought on a firm market. Business at yesterday afternoon’s call.—On ’Change: Bank of New Zealand, 60s 3d: Mount Lyell Mining, 3,35. Reported: Commercial Bank, 29s sd; English, Scottish and Australian Bank. £8 Ss 9d; N.Z. Insurance, 425; Hikurangi Coal (A pref.), 7s 6d; Electrolytic Zinc (pref.), 32s 9d; Taranaki Oils, 9s; Mount Lyell Mining, 335; Auckland Gas. 1935, 65 per cent, debentures, £lO2 10s. Business at this morning’s early call. —On ’Change: Auckland Gas (pd.). 23s 7d. Reported: Hikurangi Coal (ord.). 4s 6d; South British Insurance, 61s; Kempthorne Prosser’s N.Z. Drug 69s 9d. Business at mid-day.—Reported: Soutli British Insurance, Cls; Goldsbrough. Mort, 51s 9d; New Zealand Breweries. 42s 2d.