A Buoyant Market

Sun (Auckland), Volume II, Issue 598, 26 February 1929, Page 12

A Buoyant Market

Steady Trading Recorded By ‘‘Noon Call.” THE early release throughout the province of approximately £500.000 as a result of yesterday’s wool sale is yet another indication of the very satisfactory position of the primary producers and the financial position of the country, generally. The markets on ’Change remain very firm, with a very steady volume of business registering daily.

FLUCTUATION'S Movements shown in sales on ’Change during the past 24 hours, compared with the price at the time of the previous reported sale, include: Wnihi Mining; fall of 3d. Bank of New Zealand, rise of 6d. Huddart-Parker, fall of 9d. Hanford (ord.), rise of 6d. Business yesterday afternoon: Auckland Harbour Board debentures. 1939, sfc per cent., £99 10s; New Zealand Breweries debentures. 26s 4d: Xew Zealand Breweries. 58s; Waihi Mining, 13s 6d. In the banking group, a continued demand on very firm levels results in steady trading, with buyers in for all The better-known shares. New Zea--lands touched new high levels again this morning outside the call room when the scrip changed hands at 63s i»d. Commercials are now sought at compared with buyers as low as 28s lOd last week. Loan and agency shares continue to attract more buyers than sellers. A seller of Dalgety’s came in this morning at £ls 15s. It is interesting to remember that at the beginning of February last year Dalgety’s sold on rhe Auckland 'Change at £l3 16s. The latest sale of the scrip was made at

£ls 11s 6d. Most other shares in well-managed concerns show similar advances with the market still very firm and every tendency upward. In the coal group, Renown preference shares continue to attract attention and are active at up to 3s. During the morning sales were made at 2s lid. The preference issue is sought by those having an eye on the 10 per cent, dividend, which many consider certain this winter. There is no doubt that if everything goes according to schedule their hopes may be realised. The sum to be found is very small. The return at 3s works out at £8 6s Bd. In addition, to having lirst right to dividend, preference holders have first hold on the property of the company. * * * The miscellaneous section is quiet, with very little movement in the market. Sanfords (ord.) were dealt with at 3 Bs, the first recorded sale since the last week in the old year when the scrip saw business at 17s 6cL Business this morning:—On ’Change —Waihi Mining, 33s 6d (3 parcels). Reported—National Bank of New Zealand, £ 7 ss. Business at mid-day:—Reported— Sanford (ord.), 18s: Bank of New Zealand. 63s 9d: National Insurance, 16s 2d: Renown Coal (pref.), 2s ltd; Hud-dart-Parker, 46s 9d; Farmers’ Fertiliser, 20s 6d.