FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 692, 18 June 1929, Page 10

FINANCE & MARKETS

Market Quite Steady Not Affected by Earthquake Damage A QUIET tone continues to be registered on ’Change and only a comparatively small volume has been recorded over the past ill hours. Fears that extensive damage had been done to the West Coast mines by yesterday’s earthquake had the effect of temporarily drawing buyers out of the coal group. Insurance shares were not affected.

fluctuations Trice movements, shown by a comparison of saJes over the past 24 hours, •with prices at the time of the previous Recorded sale, include: Australian Bank of Commerce, rise of lid. New Zealand Guarantee Corp., rise of 4d (sales in the South). Mount Lyell, rise of 3d. Victoria Nyanza Sugar, fall of 4d. Whittome, Stevenson, rise of 6d. Sanfords (ord.), rise of Is. Business on the Auckland Market Business recorded on the Auckland •Change over the past 24 hours includes Yesterday afternoon: N.Z. Inscribed Stock, 1936, 5t per cent., £lOl ss; Aust. IBank of Commerce, 36s 7td; Auckland Gas, 24s sd. This morning’s early call: Reported. Hanford, Ltd. (ord.), 18s 6d; Victoria Nyanza Sugar, 465. At mid-day call —Reported: National nk of Australasia (con.), £ 9 11s f»d ; South British Insurance. «6s 3d; Mount Lyell Mining, 42s 3d; Whittome, Movcnsons, 475. mm* Sharp Advance in N.Z. Breweries Following on increased activity in i he South yesterday the market for Xew Zealand Breweries advanced hardly this morning to see buyers offering 74s 4d and sellers asking 76s ;.d. This com pan.'" closes its financial year at the end of March. Australian Bank of Commerce The market for Australian Bank of Commerce shares is showing slightly more activity and sales were made in the South and in Auckland yesterday at up to 36s 7|d. At this price the return on the latest dividend is approximately £4 7s 5d per cent. The half-yearly dividend announcement in connection with the bank is due about the end of next month. Report has it in certain financial circles across the Tasman that an increase over the S per cent, paid last year is likely. ♦ * * Guarantee Corporations Reach New Levels Xew high levels were reached by the market for N.Z. Guarantee Corporation sh ires in Christchurch yesterday, when sales were recorded at up to 10s. At this price the approximate return on investment is £6 13s 4d per cent. The steady rise in the market for this scrip is interesting from the fact that an improvement was predicted in these columns several weeks ago. The company is considered to be well

managed, and it is thought in many quarters that the current year’s income will show an improvement following the generally better tone throughout the country.

Steady Interest in Coals Although the reports of damage on the West Coast as a result of yesterday’s earthquakes caused a certain amount of unrest among holders of coal shares in companies down that way, and buyers temporarily withdrew, the market recovered this morning when it was reported that the damage to most of the mines was practically negligible. Westports sold yesterday In the South at 35s id, a new recent high level for this scrip, which offers a return of approximately £6 8s 3d per cent, on the basis of a ten per cent, dividend. Other coals are meeting with a steady demand at late prices. Waipas were slightly weaker this morning.

Movements at Mid-day Call Increased activity was registered at the mid-day call. In the banking group Nationals of New Zealand are very firm, with buyers 6d above Saturday’s market. South British shares met with a keen demand, and the market shows an upward tendency. Sellers asked 66s 3d at mid-day. The timber group is weak. Buyers of Kauris came in this morning after a comparatively long absence at 17s 6a, but sellers held firm for 20s. Nationals continue to be sought by the speculative interests at 6s. Quotations were listed this morning for both Northern Boot and Phillips and Impey shares for the first time for many weeks. No sales were recorded. Sellers of Waihi mining scrip dropped to 32s 3d to find support from buyers at 31s lOd.

Dividends Due Dividends expected in the near future include:

Australian Glass—3 p.c. p.a. pref., and 12i p.c. p.a., ord. . June 13 Farmers’ Trading—lo p.c. p.a., ord. and 7 p.c. p.a. pref. .. June 13 Robinson Ice Cream—lo p.c. p.a. June 20 Bank of New Zealand—l 4 1-3 p.c. p.a., ord., and 7J p.c. p.a., D pref June 22 Mount Lyell—ls 3d a share (int.) June 24 A. J. Entrican and Co.—6 p.c. p.a., ord., and 6 p.c, p.a., pref. June 27 British Tobacco—2£ p.c. on ord. (int.) Jun 29 ♦Loan and Merc.—2i p.c. on pref. (int.); 3-J p.c. on 2nd • pref. (int.); 3 p.c. on ord. (int.) June 29 tNew Zealand and River Plate —4} p.c. (int.) July 1 National Mortgage—32 p.c. (int.) Tuly 2 ♦Less 2s in £1 English income tax. tLcss 4s in £1 income tax.

TO-DAY’S QUOTATIONS

Closing quotatolns at to-day's mid-day call were:— Buyers. Sellers. Buyers. Sellers.

SOUTHERN EXCHANGES Press A sociation Sales were made on Southern exchanges yesterday as follow: Wellington.—J. Staples and Company, £2 Ss 7d; Ward and Company, £1 13 6d; Bank of New Zealand. £3 3s 3d. Christchurch. —Australian Bank of Commerce, £1 16s 7d; ditto (4). £1 16s Sd; Bank of Australasia (2), £l4 14s; National Insurance (2), 16s 4d: New Zealand Guarantee Corporation. 10s; Stockton Coal tord. ), 3s 3d; Westport Coal. £1 15s Id: New Zealand Breweries. £3 12s Od; ditto, £3 14s; Timaru Brewery •5s paid) (2), Ss 6d; Beath and Company tls paid). 8s 7d; British Tobacco. £2 Os id; ditto. £2 i<s 2d; Howard Smith. £1 is: New Zealand Breweries. £3 13s, £3 13s 6d: Mount Byell. 425. Dunedin.—Australian Bank of Comn.rrrr. £] 1 3d; ditto. £1 16s 7d; Kildare. 3s lid.

MINING NEWS ALBURNIA. —The manager reports as follows:—"The drive north on the main Orlando lode irom the crosscut at the winze has been extended sft, a total of 137 ft. The reef here averages 4ft wide and is still a strong body of stone carrying mineral antimony and silica. Strong colours of gold are still seen in the ore. The country rock on both walls is still of a splendid class being interlaced with quartz stringers and mineral veins. Cleaning out of the east crosscut at the Whau level has been finished, retimbered and a line laid for a further 15ft; total. SOft. The old timbers here are rotten and broken down, and the level full of mullock. One small leader was passed through about 2in wide." LUCKY SHOT MINES.—The manager reports; The low level crosscut has been extended 15ft. for The week. The fare at. present i» in a splendid class nf anesite interlaced with small mineral veins."

BANKS— £. s. d. * «. d. A ust. of Commerce 1 16 2 1 16 9 Adelaide 10 0 Com. of Australia.. 1 10 0 1 1ft 4 Ditto (con.) .. .. 1 ft Ditto (pref.) .. .. 7 8 0 ('oni. of Sydney .. 7 Ping., Scot.. & Aus. 8 8 0 X 9 6 National of N.Z. . 1 6 7 G Nat. of Asia (con.) 11 9 12 6 New South \\ ales .. 51, ft 0 51 10 ft Nev' Zealand 6 Ditto (D. Mort.) . 1 S 10 Union of Australia . lo 11 6 15 17 0 INSURANCE— National .. .. •• .. ft 16 ft 0 16 5 New Zealand .. .. 2 V 6 Queensland 5 South British .. .. 3 6 0 3 6 9 DOAN AND AGENCY— Abraham and Williams (pref.) 4 S 0 — Farmers’ Co-op. Auct 5 0 12 6 Ditto (A pref.) .. ft 17 < Soldsbrough. Mort . 10 3 National Mortgage . 4 Newton King (pref.) ft 9 N.Z and River Plate 1 1 1 1 3 N.Z. Guar. Corp. . ft 4 N.Z. Loan Ac Merc. 125 0 ft Ditto (pref.) .. .. MJ 0 0 N. Auckland Farmers Co-op (ord.) .. .. 0 0 1U Wright, Stephenson &. Co. . < 'OAL— Jlikurangi (pref.) .. 0 6 Ditto (A pref.) .. ft 11 ft ft 16 Ditto (pref.) .. .. ft 2 11 0 3 *> Taupiri 5 6 — Ditto (pref.) .. .. Walpa o 1 1 Westport Westport-Stockton . - GAS— 4 0 IS IS Gisborne 0 11 *» SHIPPING— Devonport Steam Ferry Howard Smith .. .. Itiidhart Parker .. Ditto (pref.).. .. Ditto (con.) .. Union Steam (pref.) 1 — TIMBER— Kauri Timber . . . . Lo viand-O’Brien . . 1 Parker-La mb .. .. — Kaiapoi 0 13 Ditto (con.) .. .. Ditto (pret. > 'Wellington (pref.) . * 6 — BREWERIES— c. L. Itines (pref.) 1 ft 0 — N.Z. Breweries ... 3 1 1 o 3 16 *> MISCELLANEOUSft Anthony Hordeus . 1 5 A uck. Amuse. Park Ditto (pref.) . •• 0 A ust. Tron «<: Steel Australian Glass . . - 10 5 2

Roolh, Macdonald Cord.) 0 l 1 Ditto (pref.) .. .. 0 9 British Tobacco 9 0 Burns, Fhilp Bycroft, Ltd 1 1 1 0 Colonial Sugar 57 la 5S Dom. Pictures 1 0 B Ditto (pref.) 1 0 6 Donaghy’s Rope 1 13 0 Dunlop Rubber.. .. Electrolytic Zinc (ord.) 1 Ditto (pref.) . . . . 17 Farmers' Trading . 0 X Gear Meat Grey and Menzies . U 10 9 Hav ward's Pictures Henry J< lies Co-op. H.M Arcade (pret.) N.Z. Drug Lewis Eady (ord.) . Ditto (pref.) .. .. Milne and Clioyce . Ditto (pref.) H Ditto B (pref.) 1 Ditto (deb stk ) . 1 6 N.Z. Farmers’ Fert. 1 o N.Z. Paper Mills .. 0 19 «•> N.Z. Refrigerating . Northern Boot.. Phillipps & Impey. B 2 Sanford, Ltd 0 IS Dit to ( pret.) . . .. l 0 Sharland arid Co. .. S. R. Maxwell Co. 5 Thames Theatre 0 10 Tonson Garlick . . . Wliittome Stevenson 2 2 Wilsons Cement 2 9 2 2 M1 NIN t *— Alburnia (2s Sd pd.) 0 1 0 Moanataiari (paid) 0 Luck*' Shot (4s pd.) 0 l i 01 Ditto (pref.) 0 1 paid) 0 0 0 Ohinemuri (ord. ) 0 7 Waihi 0 11 10 Waihi Grand June. 0 0 s 0 Mount Lyell 0 2 9 Kuala Kampar Tin 0 12 — DEBENTURES — 5 p.c n 0 — Ditto, 1935, 6\ p.c. 103 0 0 Auckland Har. Bd., 99 0 0 Ditto, 51 p.c 100 0 0 102 0 0 Ditto, 6 p.c 102 10 0 City of Auckland, 1940 p.c 99 0 0 Ditto, 1936, 51 p c. 99 0 0 Ditto, 1943, 5i p.c. 101 0 0 Auck. IIosp Bd., 51 100 0 0 101 0 0 Bor. of Devonport, 6 102 10 0 Borough of Mount 104 0 N.Z. Breweries 1 4 Gisborne Sheepfarmers — 9S • ’.MVKKNMEN1 BONDS War Loan, 193S. 4\ — 100 5 0 Ditto. 1941, 4i p.c. 99 10 0 — Ditto, I2J3. p.c 09 5 — Ditto. 1933. 5i p.c. t 01 Ditto. 1536. 5£ p.c 101 5 0 — \V;.r T,.»ati. 193S, 4; . inn ft 0 Ditto. 1939, 4i p.c. 100 0 0 Ditto, 1937-41. 5.J Ditto. 1933. 5* p.c. 99 0 Ditto, 1933. 5i p.c. 101 0 0 101 JO 0 Ditto. 193b. 5i .. 101 o 0 —