A Healthy Turnover

Sun (Auckland), Volume II, Issue 524, 29 November 1928, Page 12

A Healthy Turnover

N.Z. Breweries Active

By “Noon Call.’' THE upward trend of the market for all the better class securities continues. A very healthy turnover is recorded _ on 'Change.

■Proved stocks yielding a comparatively low immediate return, but showing prospects are meeting with a steady demand on a very firm market. Banks are quietly active. New eZalands have advanced to see business at 625. with more wanted at that figure. New South Wales, ex div., are sought at £49 15s, 5s below the buying price at the early call. In the insurance group Xew Zealands aro slightly weaker, with sellers at 47s unsupported. The reason for the neglect of this scrip is hard to arrive at. The fire in Wellington may have something to do with it, but the loss there, at the most, will not be over £II.OOO. It seems that the market moved up too fast, and that the present slackness is only emporary. The company is sound, and holders of scrip bought in even at 47s 6d should see a profit in the end. Nationals are also slightly easier, with sellers at 16s 6d supported by buyers at 16s 4d. * * * Xew Zealand Breweries continue to fluctuate, largely due, it seems, to the operations of speculative buyers. Sales were made down to 56s at the early call, but the market firmed again dur-

ing the morning to 56s 9d. It is hard to see how the market can hold much longer, unless something tangible is issued by the directorate showing the reason for the present strength of the market. Gilt-edge stocks are meeting with a rery firm demand. Although the quoted list for Government and local body debentures is not particularly long, any securities that offer on present market levels finds a ready sale. =* * * Business yesterday afternoon.—On ’Change; National Bank of Australasia (con.), (ex div.), £9 ss; New Zealand Breweries, 565. Reported: National Insurance, 16s 6d: Auckland Gas (con.), 17s 3d: Northern Steam, 13s 4d; Waihi Mining, 14s lid. Business at this morning's early call. —Reported: Bank of New Zealand, 625; Colonial Sugar, £SB ss. On ’Change: New Zealand Breweries, 56s 3d (two parcels), and 565;. Auckland Gas, 23s 3d. * * * Business at mid-day.—Reported: Auckland Gas, 23s 3d; New Zealand Breweries, 56s 2d and 56s 9d; Colonial Sugar, £SB 10s.