Steady Trading

Sun (Auckland), Volume III, Issue 668, 21 May 1929, Page 10

Steady Trading

Keen Interest in Mining

By 41

"Noon Call"

ALTHI HIGH the volume of business over the past 24 hours has not been heavy, there is a healthy tone in the market for all the better-class securities. One of the features of the market is the increasing interest in mining.

FLUCTUATIONS:Price movements, shown by a comparison of sales over the past 24 hours, compared with the market price at the time of the previous recorded sale, include: Alburnia Mining, rise of 6d. Victoria Nyanza Sugar, rise of 6d. "Business yesterday afternoon: —Bank Mt New Zealand (Dmort.), 295; NationInsurance, 16s 2d; New Zealand Breweries, 655; Victoria Nyanza Sugar, -l4s tid: Wuihi Mining - . 10s lOd. Business at this morning's early • nil. —On ’Change: Commercial Bank of Australia, 30s Id: Alburnia Mining _'s Sd paid). and 2s Id. Reported: Northern Steamship. 14s; New Zealand Breweries (ins. stock), 275. Business ;.t mid-day.—On ’Change: A Ihurnia Mining, 2s 3d. Reported: Nmi-them Steam (paid). 14s: Colonial Suuar, 138 10s; Waihi Mining, 12s lOd. Lewis Eady ordinaries continue to Hurt with a very firm demand at slightly over par. The annual report ; nd balance sheet of this company for ih«- year ended March 31, 1929, shows a net profit of £2,195. The issued capital is £39.530. Northern Steam ordinaries are attra« ting a certain amount of attention a: «d under par, and several hundred shares must have changed hands during the morning. At 14s, the return ~n investment, based on the latest d.vidend, is slightly over 8 per cent.

Considerably greater activity is j shown in the mining group. Shares in the smaller Thames development concerns are particularly active, although nothing of a really worthwhile nature has developed to justify the increased inquiry. The market is very sensitive, and indications are that a mild boom might set in any time. The banking and insurance sections are. very quiet, although most shares in both groups meet with a very firm demand. Commercial Banks were dealt with at 30s Id, the same price at which the last recorded sale was put through in Christchurch on Friday last. "Unions of Australia continue to be firmly held and, despite steady buyers at £ls 12s 6d. sellers refrain from making a declaration on the open market. Pukemiro coals have strengthened after their big decline of last week, and sellers at 63s have steady support at 595, 6d above the lowest price touched by the market last week. Renowns in the coal group are neglected. This concern’s financial year closes at the end of July. It is hardly likely that the holders of the ordinaries will receive any dividend this year as, even though the company may have had a fair summer for a start, its best returns for the winter trade cannot be expected until after the accounts are made up for the year. There should be sufficient profits to pay the holders of the preference issue their 10 per cent., however.