Heavy Trading

Sun (Auckland), Volume II, Issue 610, 12 March 1929, Page 12

Heavy Trading

Bonds Moving Freely

Bv

“Noon Call.”

HEAVY trading ill Government bonds and stocks lias been one of the predominating features of business on ’Change over the past 24 hours.

Fluctuations Price movements shown in sales over the past 24 hours when compared with prices at the tirf. of the previous recorded sale include. Sanford (pref.), rise of 3d. Sanford (ord.), fall of 9d. New Zealand Inscribed Stock, 1933, 51 per cent., fall of ss. Goldsbrough, Mort, rise of id. Mount Lyell. rise of 1d (last sale in Christchurch on Friday). Business yesterday afternoon. —On •Change: Hank of New Zealand, 62s 9d; Sanford (pref.), 19s 6d; Wilsons Cement, 40s: New Zealand War JLoan, 1938. 4£ per cent., .€IOO. Reported: Now Zealand War Roan. 1939, 4i per cent.. €100; New Zealand Inscribed Stock, 1938. 4i per cent., £100; New Zealand Inscribed Stock, 1933, 5J per cent., £lOl ss; New Zealand Insurance, 475; Goldsbrough, Mort, 52s 41d: PukeBklro Coals, 17a M; New Zealand Breweries. 5Ss; Fullers’ Pictures, 20s 6d: Mount Lyell, 42s 3d; Mahakipawa, Is 4id. Business at this morning’s early call. —On change: New Zealand Insurant. 475; Waihi Mining, 13s 3d; New Zealand War Roan, 1938, 4£ per cent., £IOO (four parcels). Business at mid-day.—On ’Change: Auckland Gas (ord). 24s 6d (two parcels); Sanford (ord.), 17s 3d (three parcels). • * * The market for Government 4£ per cent, free-of-income-tax bonds, and stocks is very firm, with an exceptionally heavy volume of business being recorded at par. At this price the securities will go to sellers showing a return of slightly under 4*.. when commission and other charges are taken into con-

sideration. Trust houses, insurance concerns and others seeking onlv the most gilt-edged securities are the principal buyers.

The banking group, at the moment, is very quiet. New Zealands. offered at 63s 3d, were not supported. National Insurances are very firm, with steady buyers in at the improved price of 16s 4d failing to attract a declaration from sellers. Further business was done at 47s with New Zealands yesterday afternoon, and sellers withdrew this morning, leaving buyers’ steady offers of 46s 9d uncovered.

In the coal group. Hikurangis continue to attract the attention of the speculative element. Buyers of the preference issue moved up to 5s 9d this morning. The scrip is fairly strongly held, with holders not prepared to make too big a sacrifice at the moment. Pukemiros are very firm, with steady sales taking place at 67s 6d. The announcement of an interim dividend is expected from a meeting of directors held to-day.

Rittle movement of any interest has taken place in the miscellaneous section. Anthony Horderps, the wellknown Sydney firm, had both buyers and sellers in this morning, making the first appearance of the scrip for many weeks on the Auckland ’Change. Checker Taxis met with a speculative inquiry at Is 6d this morning, sellers reducing their demands 6d to 6s 6d. The last reported sale of this scrip was made at Ss during the first week in November last. • * • The mining section is weak and more or less neglected. Waihis were dealt with at 13s 3d at the early oall. the market weakening to see selie f not prepared to go higher than 13s Id. at mid-day.