FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 532, 8 December 1928, Page 12

FINANCE & MARKETS

A Holiday Spirit

Business On ’Change

(By

“Noon Call,”).

A HOLIDAY atmosphere was registered on ’Change this morning. Slightly more than an average Saturday morning's business was put through; but the market lacked life, and several of the better class stocks were not even quoted.

rPHE banking* and insurance groups were quiet. In the insurance section only two quotations were called. New Zealands were unsupported at 475. A.P.A-’s found response from a steady buyer at 5s 3d. The loan and agency section also suffered from the week-end spirit, and the call closed with several of the better class securities not quoted. • * * Coals are steady at late rates with buyers in for most shares. Sellers of Pukemiros withdrew to leave buyers in at 64s 9cL Hikurangi preferences are sought at 11s- * » * tnarket closed this morning, the strength Steams were dealt with at 13s 3d. At this price the return, based on the latest dividend of 8 per cent., is approximately iS 15s Id. • * * Milne and Choyce holdings have Snoved up to new recent high levels, the S per cent, debenture stock advancing Is from the time of the last recorded sale (in September last) to see business at 265. Taranaki Oils continue to move upwards, buyers offering 5s 6d when the market closed this morning the strength of the inquiry indicating that there is » fairly wide range of speculative

interests watching the market for any jump in prices which would set in immediately any news of satisfactory developments at the bores came to hand. • • * The mining section is quiet. Ohinemuris are very firm with buyers offering 7s 6d. Waihis are weaker, sellers at 14s 8d only finding support at 14s 3d. Kuala Kampa Tins were not quoted. In connection with this concern it is interesting to note that Joseph Palmer and Sons, in their latest market report, say that the shares, in their opinion, are worth holding as they should attract the attention of the London market later on. * * * Business yesterday afternoon: On ’Change—Commercial Bank of Australia. 30s 3d; Tauplri Coal, 25s sd; Milne and Choyce (deb. stk.). 265. Reported—Commercial Bank of Australia. 30s 3d; New Zealand Insurance stock, 1938, 4i per cent., £99 10s. • • * Business this morning: On ’Change— Auckland Gas (con.), 17s sd; Northern Steam, 13s 3d (two parcels); Farmers’ Trading, 7s 9d (two parcels). Re-ported—-Guarantee Corp., Ss 6cl; New Zealand Breweries, 54s 9d.