FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 718, 18 July 1929, Page 10

FINANCE & MARKETS

Healthy Trading

Market on ’Change By “Noon Call. 7 ’ STEADY trading, with the market for all the better-class securities holding a very firm tone, is recorded on •'Change. One of the features is the very healthy tone of the coal group.

FLUCTUATIONS—■ Price movements, shown by sales over the past 24 hours, compared with the price at the time of the previous recorded sale, include:— Grey Valley Collieries, rise cf 6d. British Tobacco fall of 2d. Electrolytic Zinc, rise of 3d. Waihi Mining, fall of id. Business on the Auckland Market Transactions on the Auckland market over tho past 24 hours included: Yesterday afternoon’s call. —Goldshroußh Mort., 27s 3d: Sanford. Ltd., 3 8s 3d: Kuala Kampar Tin, 14s 3d; Orey Valley Collieries, 245. At this morning’s early call. —Reported: Bank of New Zealand. 61s 6d: Goldsbrough Mort., 47s 3d: British Tobacco, 48s Gd. On ’Change: Electrolytic Zinc. 36s 9d. At the mid-day call.—Reported: "Waihi Mining, 11s ll*d. * * * Movements At Mid-day The market for New Zealand Insurance scrip registered a firmer tone at mid-day, buyers moving up to 47s 6d, without drawing sellers below 48s. Auckland Gas shares hold their recent improved strength, the market closing with sellers asking 24s lid. Northern Steams are slightly easier, with sellers at 14s*10d, the latest recorded market price, supported by buyers at 14s 6d. New Zealand Breweries, ex div., a.re A ery firm, buyers offering 78s 6d, without attracting a declaration from sellers. When it is considered that the dividend amounted to Is 6d a share it can be seen that the market has a firmer tone than before the payment of a dividend. The debentures show a firming tendency. Electrolytic Zincs are active on a very firm market. New Zealand Farmers* Fertilisers continue to move to new high levels, buyers at mid-day offering 23s lOd,

compared with the latest recorded market price of 23s 6d. Buyers of Tonson, Garlicks moved up 6d to 4s 6d, without attracting a sale. Mount Lyells are slightly easier. Further Rise in Taupiri Coals A further advance in the market for Taupiri Coals took place this morning, when buyers increased their offers to 27s 9d. This scrip is very strongly held at the moment, and the last recorded sale was made over a fortnight ago, when the scrip was dealt with at 275. Waipas, in the coal group, continue to show increased strength, with steady buyers at 12s 6d, and no sellers. Pukemiros are firmly held at 70s: buyers offer 66s compared with the last recorded sale at 66s 6d. N.Z. Refrigerating Active Greater activity is recorded in the market for New Zealand Refrigerating scrip, and healthy trading is noted on a market registering a firming tendency. This scrip has had a rather quiet time since the publication of the last balance sheet showing a lower dividend. It is interesting to remember that during August of last year the £. I paid scrip was selling around 19s. The company closes its financial year on October 31. At yesterday’s price of 7s 6d for the contributing issue the return, based on the 5 per cent, dividend, is approximately £6 13s 4d per cent. « * * Calls and Dividends Calls and dividends are due as follow:—■ Dividends— Due. Waihi Grand Junction—ld a share July 18. Electrolytic inc, 6 p.c., ord. and pref. (final) Sept. 6. N.Z. Insurance, lid a share (final) August 6. Victoria Nyanza Sugar, 7 h per cent, (interim), August 31. Calls— Lucky Shot—3d a share .. .. July 22. Alburnia—2d a share July 31