A Buoyant Market

Sun (Auckland), Volume III, Issue 659, 10 May 1929, Page 10

A Buoyant Market

KAURI TIMBERS RISING By “Noon Call.” DESPITE the fact that the recorded volume of business on Change over the past 24 hours has not been heavy, there is a very buoyant tone in the market. Interest is spread over a wide range of securities.

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; — Kauri Timber, rise of 6d. I Bank of N.Z., fall of 3d. f National Bank of Australasia (ord.), fall of 6d. The banking and insurance group is nuiet. Nationals of Australia continue to meet with a very firm demand. New Zealands weakened slightly at mid-day to see business at 61s 9d. but, as only a small parcel changed hands at that figure, it did not give a true indication of the market. Nationals of New Zealand are slightly firmer. A.P.A. insurance scrip meets with a very steady demand up to 10s 3d. Buyers offered at that price at the early call this morning. but drifted back 3d at mid-day. South British shares are quietly active at 633 6d. Coals are very quiet. Hikurangis continue neglected. Sellers of Pukemi ros eased at mid-day to 625, without drawing sellers above 60s. This scrip was dealt with at 62s 6d on Wednesday, 2s 6d below the figure at the time of the previous recorded sale, about four weeks ago. Taupiris are very firm around 275. * * * The firm tone in Kauris is of particular interest ir view of the forefasts made in these columns four of five weeks ago, when scrip was selling down as low as 17s 7d. that it was quite on the cards that higher levels could be expected in the near future. Sales were made at 18s 9d

yesterday, 6d above the price at the time of the previous recorded sale. This morning more wanted at that figure failed to draw a declaration from sellers. The miscellaneous group is very quiet. Taranaki Oils continue depressed and sellers this morning at 5s 7d were supported by buyers at 5s 6d. Robinson’s Ice Creams were dealt with yesterday afternoon at 23s 6d, making the first recorded sale of this scrip this year. These shares are very strongly held and are in comparatively few hands, with the result that they seldom come on to the open market. Paying a steady 10 percent., the shares offer a return on investment, at yesterday’s price, of approximately £8 10s 3d per cent. The company’s financial year ended on April 30, and the dividend is due in June. Mining is quiet. Waihis dropped to the middle price of 13s 9d this morning following the payment of Is dividend. Mount Lyells are very firm on late levels. Business yesterday afternoon: South British Insurance. 63s 6d; Kauri Timber, 18s 9d; Auckland Harbour Board, 1936, 5 per cent., £97; Mount Lyell Mining. 44s 6d; Robinson's Ice Cream, 23s 6d. Business at this morning's early call:—On ’Change: Bank of New Zealand, 62s (four parcels). Reported: National Bank of Australasia (paid), £9 15s 6d Auckland Gas, 24s sd. Business at mid-day:—Reported: South British Insurance, 63s 6d; Taupiri Coal. 275; Auckland Harbour Board. 55 per cent., £lOl. On ’Change: Bank of New Zealand, 61s 9d.