FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 719, 19 July 1929, Page 10

FINANCE & MARKETS

Healthy Trading

Further Activity in Breweries

By ’'Noon Call.” ALTHOUGH there has been a slight falling oft' in the volume of recorded business, a very healthy tone is registered on ’Change. Ample funds continue to come forward for investment; for the most part, however, investors are only prepared to consider tested securities.

fluctuations Price movements, shown by sales «ver the past 24 hours compared with th<* price at the time of the previous recorded sale, include: N.Z. Breweries, rise of 4s. Colonial Sugar, fall of 2s 6d. N.Z. Paper Mills, fall of 3d. Dunlop Rubber, rise of 2d. Business on the Auckland Market Yesterday afternoon. —Taranaki Oil, National Bank of New Zealand, At this morning's early call.—On ’Change: Bank of New South -Wales, £sl 15s. Reported: New’ Zealand Insurance. 47s 9d; Waihi Grand Junction, lid. „ * Business at mid-dav. Reported. Bank of New Zealand, 61s 3d: South British Insurance, 68s; New Zealand Breweries, 82s 6d; Colonial Sugar, U 57 12s fid; Dunlop Rubber. -7s 10s; New Zealand Paper Mills, 20s 3d. Gisborne Sheepfarmers’ Debentures The market for Gisborne Sheepfarmers’ 7£ per cent, debentures shows p firming tendency, buyers offering £97 without attracting sellers on to the open market. These debentures, amounting to £300,000, mature in 1931. They are Secured by the assets of the company, which has a subscribed capital of £566.725. „ Sudden Rise of N.Z. Breweries The market for New Zealand Breweries advanced sharply in the South \esterday, when sales were made at ~p to 82s 4d, an advance of 3s lOd on the cum div. parity. The debentures firmed in sympathy. Speaking at the annual meeting or the company held in Wellington this week the chairman, Mr. A. S. Bankart, attributed the increase in profits to .several factors. Owing mainly to the fact that two Easters came into the financial year, they were enabled to » ecord an increase in output. The increase in net profits was due largely to return from investments shown in the balance-sheet at £588,299. The l ompanv was following out a very conservative policy in the writing-off for depreciation. Kuala Kampar Tins Very Firm The market for Kuala Kampar Tins remains very firm, although little actual business is recorded in the scrip ..n the Dominion ’Changes. A recent cable records that, lor the year ended March 31, 1929. after the payment of

the dividends, writing off preliminary expenses, sundry items, depreciation, etc., the amount at credit of profit and loss is approximately £43,000. The company has a paid-up capital of £585,000 in 10s shares. * % * Dunlop-Perdriau Merger Further business was recorded in Dunlop Rubbers on a very firm market during the morning. A message from across the Tasman in reference to the Dunlop-Perdriau merger states that the company’s share issue will be completed by July 22 and that it is expected that transfers will be negotiated as from July 29. Further Rise in Australian Glass A further rise took place in the market for Australian Glass at midday, buyers moving up to 54s 6d without attracting a declaration from sellers. At the time of the last balance sheet this company showed a return of 20. U on ordinary capital. The buying strength is coming chiefly from across the Tasman, and it seems that there are some special reasons for the purchases, apart from the fact that the company is going into the manufacture of window glass. The concern closes its books on March 31. Market at Midday New’ Zealand Insurance scrip shows a firmer tone, buyers moving up to 47s 9d. New Zealand Breweries were dealt with at 2d above yesterday's best Southern price, buyers remaining in at 82s 3d. Adair Bros, are sought on slightly higher levels without attracting a seller on to the open market. A further rise took place in tbe market for New Zealand Fertilisers over the morning, the market closing at midday with buyers offering 245. Mount Lyells, in the mining group, are easier. Sellers of New Zealand Breweries debentures withdrew, leaving steady buyers at Calls and Dividends Call* and dividends are due as follow : —- Dividends — _ _ Due. Electrolytic inc, 6 p.c., ord. and pref. (final) • • Sept. 6. N.Z. Insurance, lid a share (final) August 6. Victoria Myanza Sugar, Ik per cent, (interim), August 31. Calls — „ , Luckv Shot—3d a share .. .. July Alburnia —2d a share July Ji

TO-DAY’S QUOTATIONS

LONDON BUTTER MARKET

NEW ZEALAND 170 - TO 172/I Australian and 7f.Z. Press Association) Kecd. 9 a.m. LONDON, Thursday. The butter market is quiet—Mew Zealand, ITOs to 1725: Australian, 1665. Cheese is quiet—Mew Zealand, coloured. 935; white. 91s. Mo Australian cheese is offering. MERCHANTS' REPORTS Merchants report receipt of overseas cables as follow. — Amalgamated Dairies. Ltd., from their London office, dated July IS: 'Butter: Anchor, 1745; market firm, hut verv quiet at higher price. Danish butter. 1 GSs. Cheese: White, 91s; coloured, 94s to Is less: market steady." Morden and Company, from their Liverpool principals Bamford Bros.: Cheese, white. S9s: coloured. 91s. Butter, salted. 179 s to 171 s. Tone of ihe market show s slight improvejneTrt.e ,

BANK OF ENGLAND RETURN

i (United P.A. —Rj/ Telegraph — Copyright) ’ (Australian and N.Z. Press Association ) (United Service) Reed. 9.5 a.m. LONDON, Thursday, i The following is the Bank of England return:— Issue Department ir £ Notes issued in circulation .. 367,325,050 In bank department 47,117,934 Government debt 11,015,100 Other Government securities 2-34,996,331 a Other securities 9,149,548 Silver coin 4,839,021 Amount of fiduciary issue .. 260,000,000 Gold, coin and bullion .. .. 154,413,014 Banking Department Proprietors’ capital 14,553,000 Rest 3,501,586 Public deposits 11.565,660 Other deposits, bankers .. .. 62,51 1.677 Other accounts 33.521.247 Seven-day and other bills . . 2.OSS ' Government securities .. 42,711.855 > Other securities, discounts, t advances 13,568,391 Securities .. .. 23,634,965 Notes 47.117,934 Gold and silver coin .. .. 1,222,083 • The proportion of reserves to liabilities £ is 43.80 per cent. Short loans are quoted * at per cent., arid thiee months bills at 5 11-32 per* cent.

Closing Quotatolna at to-day*» midday Bu vers. Sellers. £ s. <1. £ s. d. BANKS — A ust. of Commerce 1 16 0 1 16 s Com. of Australia . 0 6 Ditto (con.) .. 19 i J 6 • Kn«.. Soot & Auft. 6 ‘ Nat. of Australasia 19 — 9 14 6 51 10 51 6 JCew Zealand .. .. *» Ditto (D mort.> . 14 Union of Australia , INSURANCE— A.P.A.. 0 0 12 16 0 l 0 16 5 New Zealand .. .. 2 7 9 2 8 •i Queensland *> 6 LOAN AND AGEN'Cl — Abraham Williams 0 (pref.) Dalsety Farmers’ Co-op 0 IS Coldsbroujrh. Mort . 9 Newton Kinp (pref.) 0 — A'.Z. Guar. Corp. .. 0 Loan and Merc .. .. L22 Ditto (pref.) .. .. N. Auck. Farmers’ SO 9 — n Ditto <B pref.) .. Wright. Stephenson 6 and Co 9 COAL1 4 0 1 5 3 Hlkuransi (pref.) . 0 Ditto A (pref.) .. 6 15 0 Ditto (pref.) .. -. . Taupiri Ditto (pref.) .. .. •> 6 Waipa OAS— 10 0 Ditto (con.) .. .. 0 IS 6 6 SHIPPING — Devonport Steam .. 1 1 9 1 3 0 Huddart-Parker o - Ditto (pref.) .. .. 14 — 10 Northern Steam Ditto (con.) .. . . T*. & O. (def. stk.) Union Steam (pref.) 1 1 — TIMBER— Bartholomew .. l 0 0 Kauri Timber . . .. I .evland-O’Brien 0 Parkcr-Lamb .. .. WOOLLEN— Kaiapol 0 in <, 0 34 3 Ditto (con.) .. Ditto (pref.) .. •• 6 Wellington Ditto (pref.) .. BREWERIES — 6 t* L. Innes (pref.) 1 0 0 — N.Z. Breweries .. .. - - 4 MI SC ELL ANEO U S— Adair Bros 1 2 0 Auck. Amuse. Park Drtto (pref.) 0 0 12 0 Aust. Iron and Steel 1 1 10 Australian Glass .. 2 14 6 —

call were:— Booth, Macdonald 0 1 9 0 2 0 Ditto (pref.) .. .. 3 9 British Tobacco 8 Burris, Philp 0 57 Colonial Sugar .. .. 57 6Dominion Pictures.. Ditto (pref.) Electrolytic Zinc 1 16 6 1 17 9 Ditto (pref.) . . . . 1 17 1 Farmers’ Trading . S Ditto (A pref. > .. Ditto B (pref.) .. 2 2 Grey and Menzies .. —* Havward's Pictures IT.M. Arcade (pref.) Kenipthorne, Prosser Lewis Eady (ord.) . Ditto (pref.) .. .. — Milne and Choyce . 6 — 6 Ditto (deb. stock) 6 6 X.Z. Farmers’ Pert. 1 — X.Z. Refrigerating . — Phillipps and Impey 2 6 — Robinson Ice Cream 0 0 17 Ditto (pref.) 1 Sharland and Co. , 0 3 Ditto (pref.1 .. .. 0 S. R. Maxwell.. .. 6 o Taranaki Oil Fields O T*nson, Garlick o Union Oil Wilsons Cement .. MINING — 0 Alburnia (2s lOd pd .) 0 1 0 2 Moanataiari (pd.) 0 Ditto (con.) .. .. o I.uekv Shot (4s pd.) 0 6 1 Wat hi Grand June. 0 0 10 0 1 Kuala Kampar Tin. 0 14 1 0 14 4 DEBENTURES — Auckland Har. Bd.. 92 0 0 Ditto, 5J p.c Ditto. 6 p.c City of Auckland, 103 99 Ditto, 1936, 51 p.c. 99 Ditto, 1943, 5£ p.c. New Plvmouth Har. 101 97 Cd., i939, 5 p.c... Bor. of Devonport, 103 — 0 6 p.c 10 4 10 — X.Z. Breweries .. .. — Gisborne Sheepfarmers 97 0 0 99 0 0 GOVERNMENT BONDS— 99 0 0 — Ditto. 1939. 4 i . . 100 0 Ditto, 1941, 4) p.c. Ditto. 1933. 5i p.c. 99 Ditto, 1933, 6b P-C. 101 Ditto, 1938. 6i p.c. ° INSCRIBED STOCK. — mo 0 0 301 0 0 Ditto, 1939, 41 p.c. 100 0 101 Ditto, 1927-41, 51 99 Ditto, 1933, BJ p.c. 101 Ditto, 1936, 5£ p.c. 101 5 —