A Quiet Morning

Sun (Auckland), Volume II, Issue 590, 16 February 1929, Page 12

A Quiet Morning

Commercial Banks Firm

By

Noon Call.”

A SLIGHT falling off in the volume of business, probably a reaction of the exceptionally heavy trading earlier in the week, was registered on 'Change this morning. Only one sale was put through in the call room.

Fluctuations Comparisons of prices over the past 24 hours w ith the price at the time of the previous reported sale show the following fluctuations in the market: Union Bank, rise of 6d. Wellington Woollens (ord), rise of Is. New Zealand War Loan, 1038, 4i per cent., fall of 2s 6d. Taranaki Oils, rise of 4d. Union Oil. Soap and Candle, rise ot Steamship (ord.), rise of " d Milbum Lime (in Dunedin), rise of Timber, fall of Sd (last sale during week ended October 0, IJ-8). The banking group is very quiet. Several shares were neglected this morning. Commercials of Australia are very firm, with steady buyers at 29s 2d. compared with a market price of 29s Id at the beginning ot the w eek. A PA’s are the only shares showing much life in the insurance section, buyers being very firm at the improved price ot 8s 9d and sellers moved up to l ’s 6d. The firming tendency emanntes from across the Tasman following the improved position of the company shown in the latest balance sheet.

Financial writers there, however, do not go into ecstacies over prospects. In timbers, Nationals were dealt with at 9s 2d during the morning, making the first sale since early in October last. The section, generally, attracts a steady speculative interest, there seeming to be a strong undercurrent of feeling that the scrip in the bettermanaged concerns must come into its own some day. At the moment, however. there is little strength in the market. Taranaki Oils are slightly firmer, sales being made yesterday afternoon as high as 4s 4d, compared with the previous market at 4s. Blenheims have buyers at 10s. # Business yesterday afternoon.— Union Bank of Australia, £ls Ss; Wellington Woollens (ord.), £7 5s 6d; Taranaki Oil, 4s 4d and 4s 3d; Union Oil, Soap and Candle, 425; Waihi Mining, 13s 9d; Colonial Sugar, £6O 15s; Northern Steamship, 14s sd; New Zealand War Loan, 1938, 4J per cent., £99 17s 6d; New Zealand War Loan, 1933, 5i per cent., Business this morning.—Commercial Bank of Australia, 29s 2d; National Timber, 9s 3d; Waihi Mining, 13s 9d.