MARKET BUOYANT

Sun (Auckland), Volume II, Issue 517, 21 November 1928, Page 12

MARKET BUOYANT

HEALTHY TONE ON ’CHANGE WEEK’S MOVEMENTS REVIEWED By NOON CALL November 21, 9 a.m. A feature of the week’s business on ’Change has been the increased attention paid to Australian securities. With the falling interest rate on this s-ide of the Tasman, investors are attracted by the higher returns offered outside the DoDuring the week a number of additional Australian secui'ities have been listed in the New Zealand call sheets, and increased business has been done in this class of investment. Australian Iron and Steel meet with, a steady demand at a 4cl premium. Some of the better class Australians, such as Australian Glass, Electrolytic Zinc, and even Mount Lyells are more jjopular than shares in many of the old established New Zealand industrial concerns. Business on ’Change, generally, has been maintained in a very bright tone, with sales spread over a comparatively wide range. The principal trend of the market continues to be upward, and at the higher levels for the more popular stocks there is an increasing tendency to pay more attention to securities which have been more or less neglected over the past year or so. This trend was particularly noticeable in yesterday’s list of business. For instance, Bartholomew Timbers saw their first sale since July of 1927. Farmers’ Cooperative A preference were dealt with at 17s 6d, compared with 16s at the date of the last sale in May of this year. Again, Dental and Medical Supplies made their first sale for over a year. General Upward Trend An indication of the continued upward trend of the market can be taken from the advances made by three or four securities over the past few days. Wilsons Cements sold at 41s yesterday, compared with 40s at the beginning of the month. New Zealand Loan and Mercantiles were dealt with at £ 120, compared with £lls in September and £ 92 at the begining of the year. Bank of New Zedlands saw business at 61s 9d yesterday afternoon, compared with 61s 6d at the time of the last sale. These are only some, but they indicate the general trend. There have been a few falls, such as that registered in New Zealand Breweries during the past week, but movements such as that are due to special causes. During the week most banks were dealt with on a very firm market. Insurances were quiet, Nationals receiving the most attention. Queenslands are slightly firmer, sales taking place at 675. Loan and agency scrip remains a very popular investment and sellers are very hard to locate. Coals are steady around late rates and meeting with a quiet demand. In the miscellaneous group several shares show greater strength, mostly as a result of the trend already mentioned, investors looking from the more popular securities which offer comparatively low returns to other channels where the possibility of an improvement in business conditions generally will bring increased profits into the industry concerned. Attention in the mining group continues attracted principally to Waihis and Mt. Lyells. The market for both these shares has firmed appreciably over the week, reaching new high levels in both instances. Waihis were dealt with yesterday at 15s compared with an equivalent of Us 2d at this time last year. Mt. Lyells were sought at 38s lid, compared with sales at 27s 6d this time last year. Return on Investment Below is a summary of the la.test sales made on New Zealand Stock Exchanges for the week ended November 20, giving in special instances t|ie approximate return on investment based on the latest dividend. The first column gives the price at which the latest sale was made. Latest Approx, price. return.

LONDON MARKETS CURRENT METAL VALUES (Australian and N.Z. Press Association J (United Service) LONDON, Monday. (Quotations on November 15 in parentheses.) Copper.—Spot, £6B 4s 4id (£6B 15s); three months, £6B 19s 4id (£6S 19s 41d). Electrolytic Copper.—Spot, £74 15s (£74 15s); three months, £75 5s (£75 ° b Wire Bars.—Spot, £75 5s (—); three months, £75 5s (—). Lead.—Spot, £2l 10s (£2l 2s 6d); three months, £2l 7s 6d (£2l 7s 6d). Spelter.—Spot, £24 13s 9d (£24 13s 9d); three months, (£24 10s). Tin.—Spot, £230 3s 9d (£228 12s fed); three months, £225 6s 3d (£224 8s 9d). Silver.—Standard, 262 d (26gd) an oz; fine, 28 7-Sd (28 7-Sd). BRADFORD TOPS The Bradford tops' market is firm and business is restricted pending the opening of the London wool sales. WHEAT Cargoes are firm and in better inauiry. They have mostly advanced od to 6d Bv an unnamed veses for Calcutta in January, 45s 3d; by an unnamed vessel to Karachi, 45s 6d. Parcels are in fair I’equest at similar advances. _ By the Themistocles, 47s 9d (bags). Liverpool futures: December, 9s 3*d a cental, March, 9s 4}d; May, 9s 4 5-Bd. FRANKTON STOCK SALE BEEF MARKET EASIER (Special to THE SUN) HAMILTON, .Tuesday. There was an average yarding of beef at the Frankton saleyards to-day, when quotations were a little easier. The yarding of pigs was satisfactory, prices being on a par with last week’s rates A pen of fat bullocks which gained a first Pirze at the Waikato Agricultural and Pastoral Association’s Summer Show, was sold on account Of G. A. Pearce, of Puketurua, at about £2O. Company reports are.— Dalgety and Company, Limited.—Good fat bullocks made £ls to ±l6 17s bd. lighter, £l3 Is to £l4 ss; good fat cows, £9 5s to £lO 7s 6d; ordinary fat cows, £6 7s 6d to £7 12s 6d; ordinary, £5 11s to £6; good fat heifers, £9 17s 6d to £lO 9s. Sheep: Shorn wethers, 335. Farmers’ Co-op. - Auctioneering Company.—Medium fat steers made £l3 ISs to £ls, 6s; heavy fat cows, £lO 4s to £lO lls; medium fat cows, £9 2s to £9 15s, lighter, £7 8s to £8 12s; forward-condi-tioned cows, £5 17s to £7 z,s; 15-months empty Jersey heifers, £5 5s to £6, small, £3 15s to £4 ss; Jersey heifers, running with bull, £5 to £5 ss; small, £4 to £4 15s. Sheep: Fat shorn wethers, o3s to 33s sd; ewes, 20s to 21s 9d; heavy fat hoggets, woolly, 35s to 38s; light fat hoggets, 29s 3d. Pigs: Heavy baconers, £2 17s to £3; light, £2 lls to £2 15s; porkers £2 4s to £2 8s; stores, 32s to £2 2s; slips, ISs to 2Ss; weaners, 5s 6d to 17s. New Zealand Loan and Mercantile Agency Company, Limited.—Light fat steers, £l2 7s 6d to £l4 6s; prime fat cows, £9 15s to £lO 12s 6d; light fat cows, £7 10s to £9 ss. Pigs: Baconers, £2 8s to £2 17s; light baconers and heavy porkers, 35s to £2 Is. Sheep: Fat wethers, £1 10s to £1 13s sd: fat ewes, £1 ss; lambs, £1 2s 6d to £1 10s, AUCTION NOTES J. H. Ansel 1 and Company will sell by auction at their sale rooms at 167 Symonds Street, to-morrow (Thursday) at 12 noon, motor-cars of various makes without reserve.

BANKS— £ s. d. £ s. d. Com. of Australia (pref.) 7 8 0 13 Ditto (ore!.) .. .. 1 10 4 4 18 Eng-., Scot. & Aust. Australian of ComS 10 6 4 7 11 merce 1 13 « New Zealand . . 12 Union of Australia . 15 7 0 4 17 9 Australasia Nat. of Australasia 14 14 0 4 15 (paid) If) 5 0 10 Nat. of New Zealand Nat. of Australasia 7 2 6 4 10 10 (con.) 0 12 6 5 3 11 INSURANCES— , Queensland .. .. .. 3 7 0 3 14 7 LOAN AND AGENCY — N.Z. Guarantee Corp 0 8 7 7 6 7 Dalgety & Co 15 11 9 4 Goldsbrough Mort . Farmers' Auct. (A 2 12 3 b 16 10 pref.) N.Z. Loan and Mer0 17 6 6 17 1 cantile (ord.) .. .. 120 0 0 6. 0 Nat. Mortgage .. .. 4 10 0 5 11 1 COALS— Hikurangi (ord.) .. 0 6 0 Renown (pref.) • .. 0 2 11 Pukemiro 3 7 0 10 7 Westport 1 U 6 b 6 11 Hikurangi (pref.) .. —

SHIPPING— (ord.) 0 13 10 s 10 Cord.) .. .. .. -- 2 S 0 8 GAS— 1 6 17 4 Christchurch (.paid) 1 Ditto (con.) .. . . 0 12 s 6 7 1 TIMBERS— 0 IS Kauri 0 19 9 o WOOLLENS— Kaiapoi (paid) .. .. 0 13 10 3 13 2 Ditto (con..) -- .. Wellington (ord.) •• 7 4 0 G 7 o BREWERIES — C. L. Innes (pref.).. 0 19 ti 8 4 1 New Zealands .. .. 15 0 12 9 Staples 2 — Tooths 2 — MISCELLANEOUS— Australian Iron and Steel (pref.) .. . . 1 0 4 — (ord.) 1 14 19 Holden s Motors 1 British Tobacco 4 4 Dominion Rubber . . 1 7 X.Z. Refrigerating 0 19 Ditto (con.) .. .. 0 y Electrolytic Zinc Wilsons Cement 4 7 0 li G 4 11 10 Dunlop Rubber .. ... 1 4 8 — 1 D.I.C. (10s paid) — MINING— 15 0 — 1 IS 11 Mahikipawa <■* —* Okarito .. 0 DEBENTURES— Auckland Har. Bd., 1937, 5li p.c 97 10 0 Bor. of New Ply97 N.Z. Breweries .. .. I 0 N.Z. Ins. Stock, 1933, 5i P.C 101 10 ft Ditto, 1938, 42 P.c. 99 Ditto, 1936, 5i p.c. lot 5 0 Ditto, 1930, 51 P.c. 99 0 0 N.Z. War Loan, 1939, 42 p.c. .. 99 10 0