FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 609, 11 March 1929, Page 10

FINANCE & MARKETS

A Buoyant Market

TIMBERS VERY WEAK

By

“Noon Call.”

A BUOYANT tone was registered in the market for most of the better-class securities on ’Change this morning. A healthy volume of business was recorded.

Fluctuations Movements shown in sales over the past 24 hours, when compared with the price at the time of the previous sale, include: Milne and Choyce (pref.), rise of 6d. Wellington Woollens (ord.), rise of 6d. a a a Business at this morning’s early call. —On ’Change: Milne and Choyce (prof.), -7s; New Zealand Insurance Stock, 1939, per cent., £ 100. Business at mid-day.—On ’Change: "Westport Coal, 32s 3d; Waihi Mining, 4 3 3s 3d; New Zealand War Loan, 1939, 4i per cent, .£IOO. Reported: Wellington Woollens Cord.), £7 5s 6d; Nation Bank of New Zealand, £7 6s; Hayward’s Pictures, 20s 6d. Banking and insurance scrip is ciuiet. Commercials of Australia are firm. with steady buyers at 295. New Zealands are, if anything, slightly easier than at the close of last week,

buyers dropping 3d at the mid-day call to 62s 6d. {Sellers asked 63s 3d. Timbers are attracting a certain amount of interest, but the general trend of the market is toward even lower levels. Nationals are offered at 9s, compared with latest sale at 9s 3d. Sellers of Kauris at 17s 3d, the price at the time of the last recorded sale, could only find support at 16s. Sellers of Parker Lambs dropped to 19s without drawing support. * * * In the miscellaneous group Auckland Amusements are very weak, with sellers’ quotations unable to attract support. Sellers of the preference issue dropped to 14s this morning. Farmers' Fertilisers hold their increased strength of last week. Sellers withdrew from the open market this morning. With the three fertiliser companies in the North Island at the moment working full time. and hard put to meet orders, it is difficult to see otherwise than an increased dividend for the shareholders in this concern at an early date. British Tobaccos are very firm. The directors of this firm announce an interim dividend, payable on March 28, at the rate of 22 per cent.