Market Buoyant

Sun (Auckland), Volume II, Issue 503, 5 November 1928, Page 14

Market Buoyant

Waihis Very Firm

By “ Noon Call.” BUSINESS for the week opened on ’Change this morning with the market for all popular securities in very firm rone. Insurances continue to meet with a particularly strong demand.

"Sew Zealands are the only shares showing activity in the banking group. Several small parcels were dealt with at the mid-day call at 61s 6d. leaving more offering at that figure. South British Insurance reached 64s in the South on Saturday, and sales were recorded at that figure in Auckland this morning. Nationals are very firm around 17s. with frequent business recorded on that level. Buyers of Queensland* improved to 65s 9d. failing to draw sellers.

Timbers are very quiet. Leyland O’Briens, within a few days of the announcement of a dividend, are unsupported, with sellers at 35 s. This does not augur well for the announcement of increased profits that the investing public are beginning to look for from the timber industry after its long spell of depression.

Mining showed slightly more life this morning, sales of Ohinemuris being reported at 7s 2d. Waihis were also slightly firmer, with sellers at 13s 6d supported by buyers at 13s. The monthly figures for this concern make interesting reading when worked out on a £ s. and d. basis. The returns from the Grand Junction area at £2 9s 5d for October were considerably in advance of those for the Waihi proper at £ 1 11s 9d. Business at this morning's early call.—On ’Change: South British In* surance, 64s (two parcels); Northern Steam (con.), 6s 9d. Business at mid-day.—On ’Change: Bank of New Zealand, 61s 6d (three parcels): N.Z. Inscribed Stock, 1933. 5i per cent., £lOl 7s 6d: South British Insurance. 645; N.Z. Breweries, 555; Ohinemuri Mining, 7s 2d.