Market Buoyant

Sun (Auckland), Volume II, Issue 558, 10 January 1929, Page 10

Market Buoyant

Waihi Scrip Firmer By “Noon Call” THE buoyant tone which has marked Stock Exchange dealings since the opening is maintained. A healthy volume oil business is recorded.

fJTHIS banking: group is particularly J- active, in'i every trend of the market i*? upward. In the insurance section New Zealands are firmer, with sellers* asking 48s. Increased attention is being paid to loan and agency shares, and a wider range of quotations is noted. New Zealand Loan and Mercantiles had a seller this morning at £l2O, but this was withdrawn at mid-day following a sale at £ 118 earlier in the morning. Wright Stephensons’ preference scrip, after a long period of neglect, are sought at 17s. Shipping scrip is meeting with a steady demand, and the general trend of the market in the section is upward. P. and O. deferred stocks were dealt with in the South yesterday at 60s. This market has been reflected in Auckland and sellers this morning were not attracted by buyers’ i.ffers of 595. Northern Steams are also in slightly better tone and yesterday’s advance of 3d in buyers’ offers is maintained. • In coals, steady buyers are in for >crip in most of the popular concerns. Pukemiros; are very firm, and buyers moved up 6d at mid-day to 65s 6d. Renowns show a slight improvement, l aving a middle price of 15s 6d this morning. The company is reported to have reached the much-talked-about

bottom seam, the coal in which is' reported to be of excellent quality. Mining shares are showing little activity. Waihis are firmer, buyers improving to 14s 6d at mid-day without effecting a sale. It is interesting to note in connection with this concern that the returns released yesterday show a decided falling away in the yield of the Junction property v/ien compared with the returns at the date of the last report. The aggregate returns from the two properties %how that 22,864 tons of stone was crushed for a result of £ 1 12s 9d a ton. The return from the Waihi property worked out at £1 13s 4d a ton. The Waihi Junction property, which last period returned £2 9s 5d a ton, this time yielded only 18s Business at this morning’s early call. —On 'Change: New Zealand Breweries, 58s 3d (two parcels). Reported: Farmers’ Trading (ord.), 8s 3d: New Zealand Loan and Mercantile Agency Company (ord.). £118; Milne and Choyce (deb. stk.), 26s 2d; Auckland Harbour Board, 5| per cent., £97 10s. Business at mid-day.—On ’Change: Commercial Bank of Australia, 30s 9d (two parcels). Reported: Commercial Bank of Australia. 30s 9d; National Bank of New Zealand, £7 4s; New Zealand War Loan, 1938, 4 1 per cent., £99 10s.