FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 701, 28 June 1929, Page 10

FINANCE & MARKETS

A Buoyant Market

Steady Trading on ’Change By “Noon Call.” DESPITE the fact that the volume of recorded business on '( hange over the past 24 hours has not been heavy, there is a buoyant tone in the market. All the better-class securities meet vrifli a steady demand.

FLUCTUATIONS Price movements, shown by a comparison of sales over the oast 24 hours with the price at the time of the previous recorded sale, include:— N.Z. Breweries (deb. stck.), fall of Id. Ohinemuri Mining, rise of Id. N.Z. Insurance, rise of Id. National Bank of Australasia (con.), fall of 6d. National Insurance, fall of Id. Commercial Bank of Australia, fall of 2d. Grey Valley Collieries, rise of 3d. Taranaki Oil, fall of 7d. Auckland Gas (con.), rise of Id. * * *

i Business on Auckland Market Business recorded on the Auckland j , market over the past 24 hours is as j follows: —• Yesterday afternoon —New Zealand Breweries (deb. stock), 27s Id; New Zealand Insurance, 48s 7d; Tirnaru Breweries (3s paid), 8s 6d. At this morning's early call—Ohinemuri Mining:, Ss. Business at mid-day.—On 'Change: Auckland Gas (con.), 18s 4d; Commercial Bank of Australia, 30s; Taranaki Oil, 3s Bd. Reported: National Bank 1 pf Australasia (con.), CO 11s 9d; Grey Valley Collieries, 23s 9d; National In- ; burance, 16s 2d; Kauri Timber, 19s. * * * Market at Mid-day Increased business was dealt with at mid-day. Commercials sold in the call-room at 30s, twopence under the price at the time of the last recorded sale. At this price the return is approximately £ 5 per cent. The market for Kauri Timbers has a slightly firmer tone, sales taking place at 19s. Farmers’ Fertilisers are firmer, the market closing at mid-day with a middle price of 22s 6d, compared with the last recorded sale at 22s 2d. Waihis also show increased strength, buyers offering 11s lOd at mid-day.

Firm Tone of N.Z. Insurance N.Z. Insurance shares continue their : move toward higher price levels, chang- : ing hands on the Auckland market.] yesterday afternoon at 48s 7d, a price which allows a return on recent dividend rate of approximately £ 3 12s per cent. A.P.A.’s, although no sales are recorded, are also very firm, with steady offers at the improved buying price of 10s 9d; sellers ask 11s 6d. Firm Tone in Coals The very firm tone in the market for coals continues. Buyers of Renown ordinaries moved up 2d to 14s 6d at mid-day, sellers holding for 16s. Taupiris hold the recent improved tone, and the market closed at mid-day with a middle price of 26s 6d. * * * Waihi Mining Returns The following information has been cabled to the London office of the Waihi Mining Company: No. 10 level in the Dominion lode: Driving west, the. next 29ft is ore of good quality. At 91ft a crosscut has exposed 10ft of reef without revealing the north wall; the assay value is 6Ss 9d a ton. No. 10 level of the Martha lode: Driving west, the next 7ft is of good quality, and the next sft is of little or no value. Driving east, the first sft assays 52s 6d a ton, and next 13ft is of little or no value. No. 10 level in the north leader: 20ft has been driven north-east and 20ft south-west: the lode is about 4ft wide, and of little or no value. Dividends Dividends payable In the near future include: Due. British Tobacco—22 p.c. on ord. (int.) June 29 •Loan and Merc.— 2?j p.c. on pref. (int.); 34 p.c. on 2nd pref. (int.); 3 p.c. on ord. (int.) June 29 fXew Zealand & River Plate —4i p.c. (int.) July 1 National Mortgage (int.) July 2 National Bank of N.Z.—Final dividend of 12 p.c. p.a. and bonus of 2 p.c July Sanford, Ltd., 34 p.c. (int.) .. July 7 •Less 2s in £1 English income tax. tLess 4s in £1 income tax.