Farmers Trading Active

Sun (Auckland), Volume II, Issue 592, 19 February 1929, Page 12

Farmers Trading Active

Guarantee Corps. Firming

“Noon Call."

By

* ! .THOUGH tlie actual volume of business on 'Change tlws A morning was not heavy, a very healthy tone was regis- • din the market, with a wide spread of interest in all sections.

FLUCTUATIONS Com. Bank of Australia, rise of Id. uhinemuri Clines, rise of 3d. Bank of New Zealand, rise of 3d. N Z. Insurance, rise of 2d. Westport Coal (in Wellington yesterTho banking group is quiet, but there ai. no signs of an easing in the market. Commercials are decidedly firmer, with holders asking 29s 6d, following >;111 s at the improved price of 29s 3d. Now Zealands moved up 3d to new in-Ci levels for a small parcel at the I-<j > ( til. Asu.s are firmly held, with sellers hard to locate, and sales Taking place in the South at £ls. In the Insurance group, sellers of A.P.A.'s have withdrawn to leave buy- . s in at tiie increased price of 9s. New Zealands, ex div., continue their upward movement, touching fresh high cels outside the call-room at 47s 3d this morning. Steady offers of 64s 9d l*iiF South CritisTi fail to draw declarations from sellers. Continued! faith is shown in the loan and agency'group, with the market for .-hares in several of the better-fav-oured concerns showing a decided upward tendency. Dalgetys, which were dealt with last early in the month at c l.« 3s. are now sought at £ls 10s without, drawing a seller’s declaration. New Zealand and River Plate, dealt w ith last during the closing week of January at 33s 6d, are now sought at : Vs. Guarantee Corps are showing increased strength and, incidentally, even it yesterday’s Improved market price in Wellington of 8s 9d, have certain

attractions. The management of the j concern is considered to be sound, and I with the improved industrial position i of the country, there is every reason to believe that the Guarantee Corp. will participate. To make up a line of spread investments, a small parcel of | the shares is certainly worth considering. In the miscellaneous group, Farmers’ Trading Co. shares are very firm, and buyers of the ordinaries to-day-offered 8s Gd. The A preference scrip saw their first sale since the scrip was listed, a parcel changing hands at 17s (par), with more wanted at 16s 6d and sellers withdrawn. Tonson Garlicks were dealt with outside the call-room at Ss 6d. Buyers remained in at 8s without drawing a declaration from sellers. The gilt-edge market remains very firm, with all classes of Government and local body securities in demand. N.Z. Brewery debentures show improved strength, with sellers at 27s supported by buyers at 26s 7d. Buyers of Glaxo debentures are firmer at £9l ss. Business yesterday afternoon: New Zealand Inscribed Stock, 3 936, 51 per cent., 12 101 10s; Commercial Bank of Australia, urd.. 29s 3d; Bank of New fcffiuth Wales (Sydney Registry), £sl 12s oil: Taupiri Coal, 25s 9d; Auckland Gas. 24s 3u: Ohinemuri Mines, 8s Gd. * * * Business at mid-day:—On ’Change: Bank of New Zealand, 63s 3d: Farmi ers’ Trading Company, A pref., 17s. Reported: New Zealand Insurance, 47s 2d; Tonson Garlick, 8s 6d.