FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 498, 30 October 1928, Page 12

FINANCE & MARKETS

Market Buoyant

Coals Scrip Active

(By “Noon Call.”)

A HEALTHY tone was registered on ’Change this morning Coals were particularly active on a very firm market.

Adelaides are particularly firm in the banking group, buyers at last week’s market price of -CIO failing to attract sellers. New Zealands are active on a market steady at 61s 3d. Australasias are slightly easier, and. at the latest market price of £l4 16s, sellers are unsupported. In the insurance group Nationals, approaching a dividend, .have a decidedly firmer.tone, sales being made this morning at 16s 6d, compared with L6s 4d in Wellington yesterday. Buyers came in for A.P.A.’s this morning after a long silence, but the quoted offer of 3s is well below the market at the time of the previous buyer’s offer on the Auckland ’Change of somewhere around Bs. The scrip changed hands on the Sydney 'Change on October 4 at 7s. Up to the date of the latest mail the market there had a easing tendency, sellers at 7s 3d failing to find support.

Considerable movement was recorded in quotations for coals this morning, and a certain amount of business was put through. Renown preference were dealt with at 3s, a figure which gives that issue more than usual attractions, seeing that the company requires to show a profit of less than £2,000 to pay a 10 per cent, dividend. In addi-

tion the preference shareholders have the first say on all the assets of the company.

The miscellaneous group is very steady, with British Tobaccos practically the only shares showing any signs of activity. It will be noted elsewhere that holders of New Zealand Paper Mills scrip are to receive an interim dividend at the rate of 3 per cent. This is the same rate as that paid during the past two years. The last recorded sale of the scrip on New Zealand ’Changes was made during the week ended July 17, at 15s 3d. The scrip is neglected at the moment. • Business yesterday afternoon. —Bank of New Zealand, 61s 3d; Pukemiro Coals, 67s 6d; Devonport Steam Ferry, 24s Gd; Northern Steam, 14s; British Tobacco, 44s 4d; Waihi Mining, 14s Id; New Zealand Inscribed Stock, 1933, 51 per cent., £lOl ss. ■* * * Business this morning.—On ’Change: Bank of New Zealand, 61s 3d. Reported: Hikurangi Coal (pref.), 11s Id.

Business at mid-day.—On ’Change: National Insurance, 16s 6d; Renown Collieries (pref.). 3s; New Zealand Inscribed Stock, 1933, 51 per cent., £lOl