FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 614, 16 March 1929, Page 12

FINANCE & MARKETS

A Quiet Market

Commercial Banks Rising

By

“Noon Call.”

A SLUGGISH market was registered on ’Change this morning. Many of the better-known securities were not even quoted.

Ft actuations Price movements shown by a comparison of sales made during the past 24 hours with the price at the time of previous reported sale include: Com. Bank of Aust., rise of 2d. Eng., Scot, and Aust. Bank, rise of 9d. Northern Steam (ord.), rise of 6d. The banking group is very quiet. Commercials show the greatest strength, moving up a further 2d to see business at 29s 6d. English, Scottish and Australian are also slightly firmer at £8 17s. • m * Coals were slightly easier this morning. most buyers’ quotations being slightly under yesterday’s levels. Waipas continue very weak. Rumours that this concern is nearing the end of its supply of profitable coal persist. A further 5s return of capital is also indicated in some quarters. Neither reports have been substantiated by directors’ announcements, however. * * * In the shipping Group Devonport Steams are idle with sellers at 24s ltd unsupported. Huddarts were sought, ex div, at 24s 3d. Northern Steams

are very firm following a sale yesterday afternoon at 15s. Sellers have withdrawn to leave a buyer in at 14s Bd. * * * Timbers are neglected. The market for miscellaneous scrip shows little change. Wilsons Cements are showing greater activity on a firmer market. * ■* * Waihis are in slightly better tone in the mining section, sellers at 13s 6d being supported by steady buyers at 13s 2d. Moanataiaris had sellers of the ordinaries at Is 6d. Following the Press message regarding the blow-out of oil on a gold prospecting property in the South, inquiry set in for Murchison Oils this morning, buyers making a speculative offer of 3s. Sellers under par could not be located. * * * Business yesterday afternoon: Northern Steam (ord.), 15s; Wilsons Cement, 40s 6d; Waihi Mining, 13s 3d. * * * Business this morning—On ’Change: Com. Bank of Australia, 29s 6d. Reported : Eng., Scot., and* Aust. Bank, £8 17s; N.Z. Guar. Corporation, 9s 4d.