N.Z. INSURANCE RISING

Sun (Auckland), Volume II, Issue 582, 7 February 1929, Page 14

N.Z. INSURANCE RISING

Activity in Oils

By

“Noon Call.”

BUSINESS on 'Change is maintained in very steady volume with every noteworthy movement upwards.

FLUCTUATIONS — Movements since last reported sale: _\ Z. Insurance, rise of Bd. Union Bank, of Is 6d. Colonial Sugar, fall of 2s 6d. IV.Z. War Loan, 1933, s£, rise of rs 6d. Taranaki Oils, rise of 3d. The banking group has been receiving increased attention over the past 34 hours, with New South Wales and Unions seeing the biggest turnover on firm to rising market. All shares in the group are very strongly held. • * *

New Zealand Insurance scrip reached new high levels yesterday afternoon, when sales were made.at 48s, 8d ahead of the market last week, and 3d above previous high levels. South British are very firm on las* week’s improved price of 64s 9d. 1 * * «

Buyers of Dalgety and Companys i«re very firm xt last week’s -market price and no sellers. Sellers of New Zealand Loans have advanced to £l3O. to find steady support at^£l24.

Woollens are in good tone, with all shares meeting a very strong demand Sellers are hard to locate. Timbers :.ro receiving slightly more attention. . nd buyers of Doth Kauris und Bar thuiomews came in this morning after h long period of neglect.

The market for local body, Government and all proven debentures is very rirm, every tendency being upward. One of the biggest sales of New Zea-

land Brewery debentures on the floor of the call room for many months wus put through at mid-day when 1,200 changed ha-ids at 26s 3d. More were wanted e.t that figure.

Interest in oils continues unabated. Taranaki Oil Fields Company scrip is steady, moving only 3d over the past 24 hours to 7s. Scrip in the Blenheim concern, on the other hand, is steadily rising, sales being put through in the South this morning at £6. £5 17s 6d was offered in Auckland this morning, but sellers wanted £6 ss.

Business yesterday afternoon. —On ’Change: Union Bank of Australia, £ls 6s 6d: Bank of New South Wales, £sl 12s 6d; New Zealand Insurance, 48s, Auckland Gas, 23s 9d. Reported: New Zealand Insurance, 58s; Pukemiro Coals, 67s 6d; Taranaki Oils, 6s 9d; New Zealand War Loan, 1933, £lOl 10s; New Zealand Breweries (deb.), 26s

Business at this morning’s early call. —Reported: Bank of New' South 'Wales, £sl 12s 6d; South British Insurance, (»4s 9d; Colonial Sugar, £6O 15s. On ’Change: Taranaki Oils, 7s (two parcels)

Business at to-day’s mid-day call.— Reported: Union Bank of Australia, £ls 6s; Renown Coal, 18s: Taranaki Oils, 7s; Auckland Harbour Board, 1948, 5£ per cent., £IOO 10s. On ’Change: New Zealand Breweries, 26s 3d (12 parcels).