An Active Market

Sun (Auckland), Volume II, Issue 612, 14 March 1929, Page 12

An Active Market

Several Shares Rising By •'Xoon Call.” AVERY active tone is registered in the market on ’Change and an exceptionally heavy volume of business has been recorded over the past 24 hours.

FLUCTUATIONS— Price movements shown in sales over the past 24 hours, when compared with the price at the time of the previous recorded sale i ncl ude : Newton King, rise of 1s Bd. N.Z. and River Plate, rise of 6d. Union Bank of Australia, rise of 1s 6d. Ohinemuri Mining, fall of Id. Leyland O’Brien, rise of 6d. British Tobacco, rise of 2d. National Insurance, rise of 2d. In the banking group one of the principal features of interest is the steadily increasing strength of the market for Commercials of Australia. Scales of this scrip have been made during the past 24 hours at up to as high as 29s id. It is interesting to remember that when the market weakened suddenly during the third week 1n February last, the writer predicted that a revival rather than a further drop could be expected. At the present price the scrip is one of the few In the group which offers more than 5 per cent, on investment. * * * In the insurance section, sellers of A.F’.A.s are unsupported. Nationals are on the highest levels registered *ince the last week in December. The market is very firm. Newton King preference shares provide the principal features of interest to the loan and agency group, the scrip seeing frequent business at 8s 9d. Interest in these shares has been lifeless over the past five months, the previous recorded sale in the scrip laking place at 7s Id during October last. Increased interest is also being

I taken in North Auckland Farmers' | with steady buyers for the ordinaries | in at 2s 2d. ! A decidedly firmer tone is registered jin the market for Hikurangi coals, j justifying the forecast a week or so ago in these columns that the scrip was worth watching by those prepared to take a long shot. The preference issue was sought at 7s 3d this morning, compared with the price at the time of the last sale of os 6d. Business yesterday afternoon: Union Bank of Australia, £ls 10s; Newton King (pref.). 8s 9d: New Zealand Breweries, 58s; Ohinemuri Mining, 8s 2d: Waihi Alining, 13s 3d: New Zealand Breweries (deb.), 26s 3d: Renown Collieries (deb.), 2s lid; Audi, land Gas (con.), ISs 3d. * * • Business at this morning’s early (call: —On ’Change: Commercial Bank .of Australia, 29s 3d; Union Bank cf I Australia, £ls 10s; Northern Steam (pref.), 7s (three parcels); Mount Lyell Alining, 42s 9d: Alilne and Choyce (deb. stock), 26s 6d. Reported: Newton King (pref.), Ss 9d; Sanford (pref.), 19s 3d; Colonial Sugar £6O: Leyland O’Brien Timber, 345; New Zealand War Loan. 1938, 4£ per cent., £100; New Zealand Inscribed Stock, 1939, 4A per cent.. £IOO. Business at mid-day:—On ’Change: Auckland Gas (ord.), 24s 4d (three parcels); ditto (con.), ISs 3d: British Tobacco, 495; Bank of New South Wales, £sl: National Insurance, 16s 6d. Reported: New Zealand Breweries (deb.), 26s 4d; City of Auckland, 1940, 5£ per cent., £99 ss; New Zealand and River Plate, 345; Commercial Bank of Australia, 39s 3d; Renown Collieries (pref.), 2s lid.