A Healthy Market

Sun (Auckland), Volume III, Issue 635, 11 April 1929, Page 10

A Healthy Market

Greater Interest in Mining

By Noon Call

ALTHOUGH the volume of business over the past 24 hours has not been heavy a very healthy tone is registered in the market for all better class securities. One of the features of the market is the greater interest shown in mining scrip.

FLUCTUATIONS: Price movement!, shown in sales over the past 24 hours when compared with the price at the time of the previous reported sale include: National Bank of Asia (ord.).fall of 3s 6d. National Bank of N.Z., fall of Is. Colonial Sugar, rise of ss. The general tendency in the banking group at the moment is toward lower prices. New South Wales are an exception, selling freely on yesterday’s improved levels.. New Zealands are slightly easier, buyers at 62s 3d this morning dropping back 3d to 625. The coal group is quiet, with few shares showing any strength. Hikurangis show’ a wide margin between buyers’ and sellers’ quotations. Buyers of Waipas have moved up to 11s 9d, with sellers asking 12s 9d, compared with the last recorded sale during October last at 12s 3d. The feature of the market is the increasing interest in mining. Alburnias were dealt with at mid-day, making the first sale of this scrip for several months. The report of picked stone at the mine Is apparently the

cause of the revival of interest. Greater attention is also being paid to Lucky Biiots. Ohinemuris are very firm with sellers holding for 9s. Buyers of the preference offer 9s without drawing a declaration from sellers. Waihis are very firm at yesterday’s slightly easier rates.

Most classes of local body and Government debentures meet with a steady demand, although, compared with the very firm tone of six weeks ago, the market has a slightly easier tone, the large number of new issues being offered at the moment apparently having the effect of drawing part of the demand from listed securities.

Business yesterday afternoon.— Auckland Fire Board, 6 per cent., £103; New’ Zealand Breweries (deb.). 26s 4d; National Bank of New Zealand, £7 2s 6d; Taranaki Oils. 5s 3d.

Business at this morning’s early call. —On ’Change: Taranaki Oils. 5s 3d. Reported: National Bank of ’Asia (ord.), £l9 Ms fid.

Business at mid-day.—On ’Change: Colonial Sugar. £6O ss; Bank of New South Wales, £sl 2s 6d; Alburnia Mining, Is lOd.