A Quiet Tone

Sun (Auckland), Volume III, Issue 703, 1 July 1929, Page 10

A Quiet Tone

Market on ’Change

By ‘‘Noon Call

A QUIET tone was registered at the week’s opening calls on ’Change this morning. The volume of business was not heavy.

Business on the Auckland Market Transactions recorded on the Auckland market during the morning include: At the early call: On 'Change— Waihi Mining, 12s. At the mid-day call: Reported—New Zealand Inscribed Stock, 1936, 3i per cent., £lOl 7s 6d. Further Advance in N.Z. Breweries The market for New Zealand Breweries moved to new high levels during the morning, buyers offering 76s at mid-day. Sellers asked 80s. At the midddle p-ice the approximate return on the expected dividend of 13 per cent, would be lid. Waihi Junction Dividend The Id dividend on Waihi Grand Junctions, forecasted by the sudden firmness of the market, has eventuated, despite the contradictory statements from the local office. Cabled advice received from London states that the net profit for the year was .C 1.925. At the annual meeting of the company, scheduled for July 3 0 in London, the directors will recommend the payment of a dividend at the rate of Id a share. This will absorb £1.725. leaving £203 to be carried forward. • • • Movements at Mid-day Buyers of Newton King preference shares moved up to 11s 6d without attracting sellers. At this price the return would be approximately £ll 6s Id per cent. The market for Taupiri Coals holds

its recent improved strength, buyers moving up a. further 3d at mid-das* to 26s 3d without drawing sellers below 275. The last recorded sale of this scrip was made three weeks ago at 25s 6d. Donaghv’s Rope meets with a steady demand, but buyers’ improved offers of 33s 9d this morning failed to attract a declaration from sellers. Taranaki Oils continue weak with a middle price of 3s 6d. Banks and Insurances Quiet The market for banks and insurances shows little movement, although most of the more popular scrip in these groups meets with a very steady demand. National Bank of New Zealand shares are slightly firmer, the market at this morning’s early call show'ing a middle price. A point or so above the last recorded market price of £7 3s. In the insurance group, A.P.A.’s, South British and New Zealands meet with a very steady demand, but the scrip is well held, and sellers are hard to locate. Dividends Due Dividends payable In the near future include: Due. fNew Zealand Sc. River Plate —44 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.