FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 685, 10 June 1929, Page 10

FINANCE & MARKETS

In Good Tone

Gilt-Edged Market Firm By ‘‘Noon Call.” HEAVY trading in Banks was one of the features at the opening call on ’Change this morning. The market for all the more or less gilt-edge securities is very firm. Government and local body securities continue to meet with a very strong demand.

fluctuations Price movements, shown by a comparison of sales made during the morning with those at the time cf the previous recorded sale, incl yde : — New Zealand Breweries, fall of 3d. Bank of New South Wale, rise of ss. Waihi Mining, fall of 4d. N.Z. Farmers’ Fertiliser, rise of 3d. Grey Valley Coal, rise of 2d. N.Z. Insurance, rise of 3d. * * * Business on Auckland Market Business recorded on the Auckland •Change during the morning is as follows: At th€ early call. —On ’Change: TJnion Bank of Australia, £ls 15s 6d; Bank of New South Wales, £sl ss; Bank of New Zealand. 62s 6d. Reported: New Zealand Breweries. 72s 3d. At the mid-day call—On 'Change: N.Z. Insurance. 47s 6d; Waihi Mining, 12s sd; N.Z. Farmers’ Fertiliser, 2ls 9d (three parcels). Reported: Grey Valley Collieries. 23s 2d; Auckland Gas, 6J per cent., 1935, debentures, £lO3 15s. Williamson Films Debentures That there is a steady demand for Found debenture issues returning slightly above the average market rate of interest can be taken from the reception accorded an issue of £ 50.000 per cent, debentures made by the Films (N.Z.), Ltd., last veek.

Tho issue was underwritten by the New Zealand Insurance Co., Ltd., and That company reports that the i'ssue was over-subscribed within a few hours of the announcement of the issue. * * *

Steady Inquiry for Adair Bros. For months there has been a steady

inquiry for shares in Adair Bros., Ltd., on a slowly rising market. Sellers have refrained from making a declaration. Buyers at this morning’s call advanced their offers 6d to 19s - 6d. This company, which operates in Gisborne, has a paid-up capital of £27,463. and reserves of £10,123. It is considered to be very soundly managed. and has paid a steady 8 per cent, for several years. Firmer Market for Sanford, Ltd. The brighter tone in the market for shares in Sanford, Ltd., registered last week is maintained, the ordinaries having a middle price of 19s this morning. The preference issue has steady buyers at par. This company closed its financial year on May 31. It has paid a steady 7 per cent, on both issues in the past. Buyers of Tonson Garlicks came in this morning at 3s, following sellers’ weakened quotations at 7s 6d. * * * Movements at Mid-day Call The easier tone in the market for Waihi mining scrip was carried further at mid-day wl>en the market dropped 4d to see sales at 12s sd, compared with 12s 9d on Thursday last. The call closed with- buyers offering 12s 3d. Goldsbrough, Morts showed increased strength, buyers offering 6d above last week’s market' price without attracting sellers. In coals, Pukemiros strengthened at the mid-day call to see buyers in at 6d above the latest market price and sellers asking 645. The scrip is very firmly held at the moment. Sellers of Sanford ordinaries dropped 6d at mid-day, but buyers remained steady at 18s. Buyers of Tonson Garlicks improved this morning’s offer to 4s.