Steady Trading

Sun (Auckland), Volume III, Issue 658, 9 May 1929, Page 10

Steady Trading

Increased Interest in Banks 3y “Noon Call.”

STEADY' business, with interest spread over a comparatively wide range of securities, is recorded on ’Change. Banking shares are receiving increased attention.

FLUCTUATIONS Price movements shown by sales over the past 24 Hours, when compared with the price at the time of the previous recorded sale, include: Bank of N.S.W., fall of 2s 6d from the market in Christchurch on Tuesday afternoon. Commercial Bank of Australasia, fall of Id. Waihi mining, fall of 1d (Chrict-chu-crh market on Tuesday, 13s 10d: . Ohinemuri mining, fall of 2d. * * * Although the general trend of the market in the banking group is from par to slightly easier prices, steady trading is needed in the scrip. Commercials of Australia are quietly active at 30s 2d. Nationals of Australasia, both issues, hold their improved sertngth of earlier in the week, and further sales are reported. New ZeaJands eased slightly in the South yesterday. New South Wales, which moved up os on Tuesday to see business in Christchurch at £32, eased a shade on ’Change this morning. Sales were reported at £sl 17s 6d. Coals are very quiet. Further sales r»f Grey Valleys have been made at 23s 9d. Hikurangis ?re neglected. Pukemiros are steady 3n yesterday’s lower levels and meeting with a slightly better demand. Taupiris are firm, with n. middle price of 275, but no sellers below 27s 3d. Sellers of Kauris appeared at 19s fid this morning to find buyers offering ISs 6d. The last reported New Zealond sale of this scrip was made about a fortnight ago at 18s 3d. With the exception of Leyland O’Briens other

shares in the group are practically | neglected. Australian Glass quotations have been withdrawn from the open market over the past day or so. Cabled advice received from the head office of this firm is to the effect that another satisfactory year has been experienced, and that preference shareholders are to participate in a 9 per cent, dividend, while a 10 per cent, dividend and a 23* per cent, bonus will go to holders of the ordinaries. A steady 10 per cent, ordinary dividend has been paid for the past six years. The shares have not been active on the New Zealand market during the past few months, but in Sydney at the date of the last mails, were selling around 47s 3d. At this price the immediate return is approximately £ 5 5s 9d per cent.

The market for most miscellaneous securities is very quiet. Taranaki Oils have a weakening tendency. Wilsons Cements are very strongly held, with a middle price of 42s 6d, and the dividend announcement not far distant. Business yesterday afternoon: New Zealand War Loan, 1933. 51 per cent., C 99 10s; Commercial Bank of Australia. 30s 2d; National Bank of Australasia (con.), £9 16s; North Auskland Farmers’ Co-op. (B pref), 11s; Pukeluiro Collieries. 62s 6d; Auckland Gas (ord), 24s 6d; Milne and Choyce (deb stk), 265. * * * Business at this morning's early call: On ’Change—Waihi Mining, 13s 9d (4 parcels). Reported—Bank of New South Wales, £sl 17s 6d; Grey Valley (ord), 23s 9d. Business at mid-day: Reported— Commercial Bank of Australia, 30s 2d; Ohinemuri Mining, Ss.