On the 'Change

Sun (Auckland), Volume II, Issue 403, 11 July 1928, Page 12

On the 'Change

THE WEEK REVIEWED

By

“Noon Call”

July 11, 9 a.m. Although the volume of business has not been large, there has been a healthy tone in most sections on 'Change over the past week. The market for all the better class investments is firm. More attention has been paid to banking, with transactions wider spread. Unions of Australia were practically the only listed scrip not handled. The market for these has a firmer tone, with sellers now asking £ls 2s 6d, compared with £ls Is last week. New South Wales are 5s easier at £49 10s, but buyers at that figure yesterday aftarnon found sellers firm at £SO. Australasias continue to .register an upward tendency, the latest sale showing an advance of 6d on last week. National Insurances Firm National Insurance scrip continues to meet with a firm demand, and frequent sales have been recorded throughout the Dominion on a market a point or so in advance of last week’s. New Zealand Insurance scrip is also firmer, the market advancing 3d in the South yesterday afternoon. South British are firm, with a steady demand at 60s. A quiet but healthy tone is registered in the loan and agency section. Dalgetys and Goldsbrough, Mort on a steady market are proving two of the most popular investments in the section. The market for New Zealand Guarantee Corp. scrip has improved a further 2d, the scrip meeting with a steady demand with more buyers than sellers on the present market. Pukemiro Coals Reach New Level In coals, Pukemiros established a new high level over the week, a sale being made in Auckland at 67s 6d. Sellers now ask 72s 6d, with buyers on 'Change improved to 665. Steady trading is recorded in most other coal scrip, with Waipas and Renowns practically the only scrip not receiving attention. In shipping, Huddart-Parkers are very firm, sales being made at 48s 6d, with more wanted at that figure. Other scrip in this section is quiet, with practically no business taking place. N.Z. Breweries Improve The market for New Zealand Breweries, perhaps in anticipation of favourable disclosures at the annual meeting of the company scheduled take place this week in Wellington, has moved up Is. Tooths are also 3d firmer than at the close of last week. The miscellaneous section is practically lifeless. The market for most of the better class investments appears to have gone beyond a level which makes the scrip attractive when compared with the safer securities in the banking and insurance sections. Consequently the volume of business recorded is low. Upward Movement in Gear Meats Gear Meats have brought a certain amount of life to the section, the market for this scrip improving to see business yesterday afternoon at 39s 3d. At this figure it appears that the scrip is fairly dear holding. The company’s balance-sheet for last year showed it to be in a sound position, however. Net profits over the past five years have allowed a very substantial lay-by after the dividend requirement of 10 per cent, had been met. Net assets at the date of the last balance-sheet were shown at approximately 24s 8d per £1 share. This, of course, after substantial gifts to shareholders from reserves in 1925. Greater Activity in Mining Mining is now receiving more attention from the speculative element, though little movement of any note has taken place. Mount Byells have jumped approximately 2s over the week. A healthy tone is registered in the market for Government and localbody debentures. Buyers predominate and sellers are hard to locate on present levels.

Return On Investments Below is a summary of sales made on New Zealand ’Change during the week ended July 10, giving the approximate return on investment based on the latest dividend. In the case of Government securities the return includes redemption. The first column gives the figure at which the latest sale was made.

Latest ox. — Sale. Return. BANKS— £ s. d. £ s. dAust. of Com. 1 Adelaide 9 13 0 5 Australasia 14 16 6 4 Com. of Australia . 1 9 8 Ditto (as paid) . . 0 17 Com. of Sydney . . 27 3 6 4 10 2 New South Wales 49 10 0 New Zealand .. 2 19 5 Nat, of N.Z Nat. of Australasia 7 3 4 17 6 (paid) IS 7 6 9 Ditto (con.) . . 9 1 0 Eng., Scot. & Aust. INSURANCES— S 11 6 4 7 6 National 0 16 0 q New Zealand . . ft 9 4 9 South British . . .. 3 0 0 3 17 9 LOAN AND AGENCY— Dalgety and Co. . 14 15 0 5 15 Goldsbrough, Mort S 6 1 N.Z. Guar. Corp. .. COAL— 0 8 11 7 7 7 Pukemiro •• 7 S 15 Taupiri (ord.) .. .. 1 6 0 7 13 Westport Westport-Stock ton 1 10 6 12 (ord.) 0 3 4 — GAS— Auckland 1 ft r 17 Ditto (con.) . . . . 0 17 0 7 1 Christchurch (10s pd) SHIPPING— 0 11 S 6 17 1 Huddart-Parker ft S 6 5 15 Union Steam (pref) TIMBERS — 1 0 •u 5 7 11 Kauri 0 19 1 — WOOLLENS— Ivaiapoi (ord.) .. .. BREWERIES— 0 9 9 - Tooths ft 4 3 5 12 1 1 New Zealand .. MISCELLANEOUS — 2 2 0 4 15 3 Union Oil 2 2 6 5 17 7 Robinson's Ice Cream 1 6 8 17 9 National Pictures . 0 13 0 10 15 4 Colonial Sugar . . . . 59 17 4 6 4 Taranaki Oil 0 10 9 N.Z. Refrigerating . N.Z. Farmers 0 IS 6 S 1 Fertiliser 4 6 0 6 39 6 Hayward's Pictures 1 0 0 0 0 Gear Meat 1 19 N.Z. Paper Mills .. MINING— 0 lb 3 7 17 4 Waihi 0 11 11 Mahakipawa 0 3 11 Mount Lyell 1 13 6 Upper Nevis 0 4 9 Moanataiari DEBENTURES — 0 1 6 N.Z. Breweries N.Z. Ins. Stock, 1927, 1 2 9 S 15 10* 41, 5£ p.c 9S 17 6 6 S Ditto. 1939. 42, p.c. 9S 0 4 16 0 Ditto, 1930, 52, p.c. 100 0 0 10 Ditto. 193S, 4* p,c. 9S 0 4 16 N.Z. War Loan, 193S. 4i per cent 98 10 0 4 14 9 ♦Does not include •edemptiou