INVESTMENTS REVIEWED

Sun (Auckland), Volume II, Issue 433, 15 August 1928, Page 12

INVESTMENTS REVIEWED

THE WEEK ON ’CHANGE MARKET AT HIGH LEVELS Bv “Noon Call’’ AUG. 15, 9 a.m. A week of comparatively quiet trading has been recorded on ’Change. No special activity has been shown in any section. TX the banking section holders show little inclination to sell, but buyers at present levels are similarly not keen to send the market any higher, and the consequence has been that the volume of business lately has been small. On present market prices Australian Bank of Commerce shares show the best return in last week’s list of sales, bringing in little short of £ 6 per cent. This concern is one of the smaller Australian banking institutions and has made moderately rapid progress on sound lines over the past decade. The shares on the present market certainly have much to commend them. Nationals of Australia are well up on the list of the most popular sellers at the moment. With the shares returning well over £5 per cent, on present market prices, their popularity is justified among those seeking banking scrip. The concern is one of the most progressive of Australian banks, and has made steady progress over recent years. Insurances Quiet Dealings in insurances have been restricted to a very small compass, and the market mostly has a slightly easier tendency. Nationals are an exception, having moved up Id during the past day or so. Interest in this section has been spread over a wider range, but this has not affected business. A.B.A. scrip has come on the market again but sellers at 9s cannot find support. Breweries remain very firm, with New Zealands sustained at last week’s higher levels. Hikurangi Coals Continue Firm Coals are steady, with Hikurangis well to the fore among the scrip attracting the speculative element. Sales of the A preference shares were made yesterday at 9s and a firm demand continues for all issues. Renowns were dealt with over the week at 10s, a figure well below the market at the time when the mine was opened earlier in the year. At the moment it is hard to forecast the future market for this scrip, owing to the fact that forecasts from the mine up to date have proved unreliable, and excuses, rather than profits, have fallen to the lot of the shareholders. The annual meeting scheduled for an early date should rather clear the air. Miscellaneous Section Quiet The miscellaneous market has remained very quiet over the week. Wilsons Cements have improved 3d on last week’s closing price and continue to meet with a steady demand. Kempthorne Prosser’s N.Z. Drug are firmer, sales taking place on a market 6d in advance of last week’s closing rates. National Pictures were dealt with at 13s 6d, but. following the announcetrouble with the company’s principal lessee, the market weakened and sellers at 13s 6d now cannot find support. In mining, Waihis have been active on a market showing, if anything, a slightly firmer tendency. Other scrip in this section is dull and neglected. Gilt-edged scrip continues to meet with a very steady demand on a steady market, with sellers hard to locate. Sales have been confined to 1938 and 1936 inscribed stocks. Return on Investments *°£ r llowi l ls ' Js a resume of sales made on New Zealand Changes over the week ended August 14, giving the approximate return on investment based on the latest dividend. In the case of Government debentures the return includes redemption. The first column gives the figures at which the latest sale was made on New Zealand ’Changes:—

CHICAGO WHEAT MARKET

(United P.A.—By Telegraph — Copyright) fAustralian and N.Z. Press Association.) Reed. 9.5 a.m. CHICAGO, Tuesday. Wheat. —September, 1 dollar 132 cents a bushel; December, 1 dollar IS2 cents; March, 1 dollar 22§ cents.

Latest Approx. Price. Return. BANKS— £ s d £ s d Coin, of Australia . . 1 10 9 - tAust. of Com 1 Australasia New South Wales . 50 0 New Zealand . . 3 0 3 Nat. of New Zealand 7 4 Nat. of Australasia (paid) 18 17 6 5 Ditto (con.) .. .. 9 7 0 6 11 Union of Australia 15 1 0 4 19 8 INSURANCE— National 0 16 1 South British .. . . 3 1 6 3 15 1 LOAN AND AGENCY— Goldsbrough, Mort . 2 10 8 4 18 9 United Bldg. Scy. .. 0 14 8 6 16 4 COALS— Hikurangi (A pref.) 0 9 Renown Westport-Stockton (ord.) 0 3 S GAS— Auckland (con.) 0 16 6 7 5 5 SHIPPING— P. & O. (def. stk.) 237 0 0 4 4 WOOLLENS— Ivaiapoi (con.) .. .. 0 8 Ditto (paid) .. .. 0 11 3 BREWERIES— Staples . 1 16 6 5 o 7 New Zealand . . 2 8 0 Ward and Co 1 0 4 Tooth’s 2 10 6 TIMBERS— Leyland-O’Brien 1 12 0 5 4 2 MISCELLANEOUS— Burns, Philp .. 2 6 0 4 6 11 Robinson's Ice Cream 1 2 6 8 17 Wilsons Cement 1 18 4 6 Morris Hedstrom . . 1 0 9 15 S Kempthorne Prosser 10 6 5 13 4 Holden’s Motors 1 11 9 10 6 British Tobacco 0 4 17 S National Pictures . . 0 13 6 10 7 4 Hayward’s Pictures 1 0 0 9 0 0 Gear Meat 2 1 0 4 17 7 Electrolytic Zinc (ord.) 1 13 0 7 5 5t Ditto (pref.) .. .. 1 13 9 2 Colonial Sugar (Aus.) 59 10 0 4 4 0 MINING— Waihi 0 12 10} — Ohinemuri 0 7 — Mahakipawa .. .. 0 2 9 — DEBENTURES — Hamilton Theatres, 8 p.c 100 0 0 8 0 0 Milne and Choyce (deb. stck.) .. .. 1 4 6 6 10 7 91 N.Z. Breweries . . . . 1 4 0 S 6 S N.Z. Ins. Stck., 41 p.c.. 193S .. .. 99 0 0 Ditto, 5a, 1936 . . 101 2 6 5