LONDON MARKETS

Sun (Auckland), Volume II, Issue 412, 21 July 1928, Page 12

LONDON MARKETS

GOOD DEMAND CONTINUES (United P.A.—By Telegraph—CopyrightJ (Australian and N.Z. Press Association.) Reed. 9.5 a.m. LONDON, Friday. The demand for apples continues good at London, Liverpool and Hull, owing to the hot weather and a comparative shortage of Continental soft fruits. Sturmers, 9s to 11s 6d; New Yorks, 11s; Scarlets, 10s to 12s 6d. THE METAL MARKETS (Quotations on July 16 in parentheses.) Copper.—Spot, £63 0s 7Jd (£62 ISs ljd); three months, £63 6s lOid (£62 4s 2£d). Electrolytic Copper.—Spot, £6B 15s (£6B 15s); three month, £69 (£69 ss). Wire Bars.—Spot, £69 ’ss (£6O ss); three months, £69 5s (£69 ss). Lead.—Spot, £2O 13s 9d (£2O 7s 6d); three months, £2l 2s 6d (£2O 10s 3d). Spelter.—Spot, £24 7s 6d (£24 11s 3d); three months, £24 7s 6d (£24 0.55). Tin.—Spot, £2lB 2s 6d (£2lO 7s 6d); three months, £213 12s 6d (£207 2s 6d). Silver. —Standard, 27 l-8d (27 1-Sd) an oz; fine, (29£d.)

Constant Reader, Ponsonby: You say you are interested in only sound securities where the prospects of accumulating reserves being capitalised from time to time are bright. In that case the banking section appears to offer you the best prospects. Of course, there are industrials worth considering, but there is a greater element of risk in the scrip. It is largely a question of individual selection as most of the banking shares are good buying for the investor who is prepared to hold. Personally we are inclined to favour the Commercial of Australia. Although the shares at present prices give only a small interest return, for investors who are able to take a long view, they are attractive. ' Several new issues have been made in recent years and more are to be made at a not very distant date. The Commercial Bank during the last few years has made very rapid progress. Its average profits for the past five years were £296,783, showing a large increase over the average returns for the previous five-yearly period. For the year ended June, 1927, there was a surplus of £107,290 after paying the usual dividends. Better returns are expected this year. An article appearing in an early Monday’s issue of The Sun should interest you. Mining, Thames: The company is still in existence, but there is no market for the scrip, and we are afraid that there is very little hope of them ever being of any value.

T. J., Auckland: The prospectus does not appear particularly attractive. Apart from all other issues in a question of this nature you have to consider that of negotiability. It does not appear as if they would ever be listed on 'Change, and you would certainly have trouble in effecting a quick sale elsewhere. In any case we are confident you could place your money to better advantage. J. N., Cambridge: The company has the reputation of being well managed. Little reliance can be placed upon rumours coming from the source you mention.