Market Quiet at Close

Sun (Auckland), Volume II, Issue 478, 6 October 1928, Page 12

Market Quiet at Close

WELLINGTON WOOLLENS FIRM

FE week on ’Change closed this morning with a very quiet tone in all sections. No sales were recorded.

The banking section is quiet, with buyers less Inclined to declare. Sellers of Commercials of Australia have dropped to 30s 4d to find steady support from buyers at 30s. Insurances show a slight weakening. Sellers, for the most part, are unsupported. The loan and agency section is in a very healthy tone. Farmers* Auctioneering ordinaries continue to strengthen. Buyers offered 59s this morning. New Zealand Guarantee Corporations are meeting with a firmer demand following the publication of the balance sheet. Sellers are hard to locate. In woolleens Wellingtons are very

firm and, with sellers not prepared to declare, buyers are gradually raising their offers. Taranaki Oils are very weak, sellers at a purely nominal price of 9s being unsupported. It looks as if some outstanding development at the bores is needed before this market regains its strength. At the moment reports contain little of interest, the engineers mainly being concerned with dropping and picking up piping and other difficulties. Business yesterday afternoon:—On ’Change: New Zealand War Loan, 1939, 4J per cent., £99. Reported: Bank of New South Wales, £sl 7s 6d; Dalgety and Co., £ls 3s; National Mortgage, £4 ss; Henry Jones, 38s lOjfcd.