Mining in Better Tone

Sun (Auckland), Volume II, Issue 556, 8 January 1929, Page 12

Mining in Better Tone

bv NOON CALI

CONDITIONS oil ’Change this morning were back to normal. A very healthy volume of business was put through.

r pHB banking section has opened in ; ■ particularly firm tone, several par- . ois of shares changing hands on a market where every tendency is upward. Buyers of Commercials of Australia at yesterday’s market price of 30s 9d this morning tailed to attract filers below 31s. New Zealands firmed during the morning after the '.tie of a small parcel at 61s 9d. Steady buyers of Unions have no attraction lor sellers. In the insurance group, a fairly wide t mg- of Quotations indicates a susiliu il interest in this class of investSew Zealands are very firm, :iles being made outside the call room ... 475. The late steady buyer for A.P.A.’s at 6s came on the market a quin this morning but sellers were not attracted. More attention is being paid to loan «nd agency, and shipping shares, on a steady market. P- and O. debenture stocks, continuing to advance, saw buyers move up to 59s at mid-clay without attracting sellers below 61s 6d. Coals are quiet, but receive a fair sliiire of support. Hikurangis are practically neglected at the moment, with sellers unsupported. Pukemiros ju t* very firm, with a middle price of

67s 6d. The market for Renowns is, if anything, slightly stronger. The attraction of New Zealand Breweries for the more speculative class of investor continues, and the market moved up again at mid-day, to see buyers offering 57s 3d. Innes preferences are sought at 19s 6d, but other scrip in this section is neglected. A sign of the times, reflecting the increase in money available for speculation and investment, is the brighter tone in the mining group. Ohinemuris and Ducky Shots were dealt with this morning. Both Waihis and Mount Lyells firmed appreciably.

Business yesterday afternoon: Reported—Union Bank of Australia, £ls 14s: Commercial Bank of Australia, 30s 9d.

Business at this morning's early call: On ’Change—Bank of New Zealand, 61s 9d; Auckland Gas. 24s (two parcels). Business at mid-day: On ’Change— Ducky Shot Mining (con.), 3d. Reported—New' Zealand Insurance, 475; Auckland Gas. 245: Milne and Choyce (deb. stock). 265: Ohlnemuri Gold and Silver, 8s 3d.