FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 624, 28 March 1929, Page 12

FINANCE & MARKETS

Closed in Good Tone

Increased Activity in Mining "

By

"Noon Call."

AVERY tirm tone was registered in- the market for ali the better-class mining scrip at the closing call this morning. Mining scrip showed increased activity.

Fluctuations Price movements shown by a comparison with sales over the past 24 hours, compared with the price at the time of previous recorded sale, include: Eng., Scot. & Aust. Bank, fall of 6d. N.Z. Farmers’ Fert., fall of 6d. Grey Valley Coal, rise of 3d. Little movement was registered in j the banking group. Commercials of I Australia are, if anything, slightly I easier, with sellers quoting 29s lOd. ! Nationals of New Zealand are weak, i with buyers at' the moment hard to I locate. In the insurance group, Nationals »*>ntinue to attract steady buyers at Sd So in *• ‘ New Zealands withdrew this morning, leaving buyers firm m 16s 9d. Standards were sought at Coals are attracting a fair share of

j attention from investors willing to take increased risk in the hope of securing higher returns both from dividends and market appreciations. Pukemiros ! are slightly easier, with sellers at 66s unsupported, after the payment of the interim dividend yesterday at the rate of 2s a share. * * * Increased activity is registered in mining, with a greater volume of forward business indicating a return of i faith in the future of several coni cerns which have been more or less neglected lately. Waihis and Ohine- • muris are particularly firm on current j levels. Business yesterday afternoon:—English, Scottish and Australian Bank, £S 16s 6d: Grey Valley Coal, 225; New Zealand Farmers’ Fertilisers, 21s 9d: Victoria Nyajrza Sugar, 43s 6d. Business this morning.—On ’Change: Taupiri Coal, 26s 9d (two parcels). Reported: Lucky Shot Mining (con.). 7 Ad.

TO-DAY’S QUOTATIONS

'losing quotatoins at to-day’s mid-daycall were:

SOUTHERN EXCHANGES

YESTERDAY’S SALES Press Association Wellington.—Commercial Bank. 29s lid: Bank nf New South Wales, £SO 18s fid; Bank of New Zealand, 29s lOd; Wellington Meat Export, 12s fid. Christchurch. Commercial Bank of Australia 29s 9d, English, Scottish and Australian Bank. £8 los fid; Bank of New Zealand, fils lid; National Ineurnee, 16s 8d; Colonial Sugar, £6O; Mount Evell. 14s 9d (two); Mahakipawa. Is 2Jd; National Bank of Australasia (£5 paid), £■' 13s fid; Bank of New South ales, £SO 17s fid.

BUTTER AND CHEESE

Merchants report receipt of London cables reading as follow: — Norden and Co., from their London principals. Andrew Clements and Sons, under -late March 26:—“Butter: 162 s to lfits: dull Buyers expecting lower price. Continental butter very weak; Danish. 160 s. f.0.b.. Cheese: SSs to 90s; steady. Free cheese about sufficient for present demands. Buyers acting cautiously owing to heavy published stocks.** MELBOURNE HIDES (Australian cud N.Z. Press Association) MELBOURNE, Wednesday. 4t the Melbourne hides sales to-day the market was firm. , The majority of parcels were in sellers’ favour. VEGETABLE “WOOL” (Australian and N.Z. Press Association) LONDON, Tuesday. Some of the newspapers are publishing details of a new French process, which is being tided in Yorkshire, for making artificial wool from vegetable fibre, but Bradford experts generally are sceptical.

WILL NOT SELL WORKS

FREEZING COMPANY’S DECISION Press Association DUNEDIN, Wednesday. A largely attended meeting of shareholders of the South Otago Freezing Company to-day decided, by a majority of two to one, not to sell the works to the New Zealand Refrigerating Company. It was also decided to buy out •‘dry’* shareholders at par, with money raised in South Otago.

CHICAGO WHEAT

(Australian and N.Z. Press Association) Reed. 9.14 a.m. CHICAGO, Wednesday. Wheat.—March, 1 dollar 16 7-8 cents a bushel; May, 1 dollar 20 3-S <;ents; July, i dollar 23 7-8 cents; September, 1 dollar 25 7-S cents. FOREIGN EXCHANGES RUGBY, Tuesday. The following rates on foreign exchanges are current to-day, compared with the cabled quotations on March 21 and par:—

ADVANCE IN WHEAT (Australian and N.Z. Press Association) LONDON, Tuesday. Wheat cargoes are steadier in tone and have advanced 3d to fid. Parcels are steady and unchanged. Liverpool futures: March. *.'s UUd; May, 9s Olid; July, 9s October, s*cL

Seilers. Bu>e £ £ BANKS— -\usr. r*f Commerce 1 17 6 1 0 Adelaide, 10 0 Australasia 14 18 Com. of Australia . 1 ft 10 1 Ditto (con.) .. .. ft IS 6 Ditto ( pref.) . .. 12 ft 8 6 National of N.Z 5 0 National of Australasia . . 1ft 8 0 New South Wales , 51 5 ft 15 ft New Zealand 3 3 1 6 Ditto, D. Mort .. — 1 8 6 I NSURANGE— National .. ft 16 10 ft If* 8 New Zealand •. .. 6 ft Queensland 3 8 3 7 6 South British .. .. 6 9 Standard .. .. •• .. — 3 4 ft LOAN AND AGENCTAbraham and Wilhams (pref.) — 4 7 6 farmers* Co-op. Auc. 3 1ft 0 M ft Ditto, A (pref.* .. 0 17 0 Ditto, B (pref.) .. 0 16 0 Nat Mortgage and Agency t 12 K Newton King (pref.) 10 8 6 N.Z. Guar. Corp . . 1 N.Z. Loan and Mer. 130 0 12ft 0 ft Ditto (pref.) .. .. — 80 0 0 IS Auck. Farmers' < 'o-op Cord.) . . .. ft Ditto, B (pref.) .. 0 12 0 0 8 6 COAL— Kikurangl . . ft 2 ft Ditto (pref.) .. .. 8 1 >itto. A (pref.) .. ft 5 6 0 9 I’ukemiro (ex diy ) 6 ft Renown 0 18 Ditto (pref.) .. .. ft 0 0 1 1 *1 aupiri . . . . .. .. 1 7 1 6 6 Ditto Cpref.) .. .. \\ aipa 0 12 Westport \\ estport-Stockton . 0 3 2 Grey Valley .. .. 1 2 6 1 1 9 GAS— Auckland 1 ♦ 6 1 4 4 18 Gisborne o 13 ft 10 SHIPPING— Devonport Steam .. 1 l 3 — fluddart-Parker 6 •> Northern Steam 4 Ditto (con.) .. ft 0 r. and O. (def. slk.) 3 Union Steam (pref.) — 1 0 b TIMBER— Kauri Timber ... .. ft 17 6 ft 16 3 Leyland-O Brien 1 1 1 6 National 0 0 5 0 1‘arker-Lamb .. .. 0 19 0 0 1 ; WOOLLEN — Kaiapoi 0 14 S ft 14 3 4 Ditto (pref.) .. .. 0 17 0 0 15 BREWERIES— L. Innes (pref.) 1 ft 0 N.Z. Breweries •. .. 3 1 6 3 3 MISCELLANEOUS— Auck. Amuse. Park ft 3 0 — Ditto (pref.) .. .. 0 14 —

Sellers. Buyers. Aust. Iron and steel (pref. > — 1 0 3 British Tobacco 2 9 0 2 8 Bycroft, Ltd 1 12 6 Checker Taxi .. .. 0 7 6 Colonial Sugar . . .. 59 Dominion Pictures . Ditto (pref.) .. .. Donaghy’s Rope . • Electrolytic Zinc 1 13 6 (ord.) 1 16 (i 1 Ditto (pref.) . . . . 1 17 3 1 16 6 Farmers' Trading n 8 9 0 S Ditto A (pref.) . ft 17 ft Ditto B (pref). 0 14 ft 0 32 0 dear Meat 4 4 0 Grey and Menzies . — ft 10 9 H.M. Arcade Theatre 2 2 t 0 E»itto (pref. I .. .. — 1 1 0 N.Z. Drug 4 3 ft 4 ft 0 Lewis Eady (pref.) . 0 19 3 — Milne and Choyce . . — 1. 6 ?, Ditto (pref.) .. .. — 1. 6 Ditto (13 pref.) , l 6 6 Ditto (deb. stock) 1 6 1 6 6 N.Z. Farmers Fert. 1 n 1 1. 0 N.Z. Paper Mills .. Phillipps and — 0 17 5 Jmpey 1. 14 ft Robinson Tee Cream 1 1 6 Sanford, Ltd 38 0 16 9 Ditto (pref.) .. .. 1 0 0 0 18 6 Sharland and Co, .. 1 0 9 Ditto* (pref.) .. .. 1 0 .9 Taranaki Oilfields . 0 5 ft 4 10 Thames Theatre 0 10 0 Tonson Garlick 0 s 6 Union Oil 2 2 6 Victoria Nyanza .2 0 0 Whittome Stevenson 2 6 ft ilsons Cement 2 ft 9 2 ft 6 MINING— Lucky Shot (4s pd) o 1 3 o ft 9 Ditto (con.) n 7A ft 6 Maoriland (con.) n 0 h Ohinemuri (ord.) .. o 8 6 ft s Ditto (pref.) .. .. 0 Waihi . 0 13 8 0 3 3 7 Waihi Grand June. . ft ft 10 Mount Lyell 4 6 Kuala Kampar Tin . ft 1 o 0 ft 14 6 DEBENTURES— Auckland Gas, 1932, 94 0 ft Ditto, 1935. 6i Auck. Harb. Board, — 103 0 0 5i per cent 100 ft ft Ditto, 6 per cent. City of Auckland, — 103 0 0 1936, 51 p.c Bor. of Devonport, ““ 99 0^ 0 6 p.c ]03 ft ft Ditto, 4i p.c ft ft Bor. of Mt. Eden, 6 — 103 10 0 6 per cent — 103 ft 0 N.Z. Breweries .. . 1 ° GOVERNMENT BONDS — War Loan, 1930, 4i — 98 15 0 Ditto, 1933, 51 p.c. Ditto, 1933, 54 p.c. 101 10 0 101 0 Ditto, 1936, 5J p.c. — 101 INSCRIBED STUCK War Loan, 1933 5i 100 n o 99 ft 0 Ditto, 1936, oh p.c. — 101 0 0

Mar. 26 Montreal, dol. — March 21 4.87 5-8 Par. 4.866 X. York, dol. . 1.S5 3-8 4.85 11-32 4.866 Paris, fr. . . 124.175 124.275 124.21 Brussels, belga 34. 9 4 34.955 35.00 < icneva, fr. 25.27 25.25 25.22 Amst’dam, fl. Rome, lire . . mu 12.115 02.70 12.10 02.46 Berlin, r.m. . 20.455 20.452 18.17$ 20.43 St kholm, kr . 18.17 18.159 Oslo. kr. . . IS.20 18.20 IS. 159 CVp’nh'g’n, kr. Vienna, sc-h. . Prague, kr. Hels'fors, m. . 18.21 34.525 18.215 34.545 Ijrip 193 192 7-8 192.23 Madrid, pes. . 31.975 31.725 23.221 Athens, dr. . 375 375 375.00 Buch’rest, lei Rio de Janeiro, S14i S16 25.221 mil. B. Ayres, dol. .''alcutta, rupee Shanghai, tael H'ngk’ng, dol. 5 27-32 47 5-16 47 11-32 47.57 17 31-32 IS !L it. n BataviaT‘fi. 5 . Cn ills'*" 12.10