In Good Tone

Sun (Auckland), Volume III, Issue 730, 1 August 1929, Page 10

In Good Tone

Market on 'Change

By

“Noon Call.”

AVERY healthy volume of business continues to be recorded on ’Change. The market for all the better-class securities is very firm.

Fluctuations Price movements shown by a comparison of sales over the past 24 hours, compared with the price at the time of the previous recorded sale include: National Insurance, rise of 2d. Electrolytic Zinc, fall of 3d. Bank of New Zealand, rise of 3d. Waihi Mining, rise of Id. Business on the Auckland Market Transactions on the Auckland market over the past 24 hours have included: Yesterday afternoon. Commercial ißank. 30s; Union Bank of Australia, •Ll 32s Gd; ditto (Melbourne register), £ls 3s 6d; National Insurance, 16s 2d; Auckland Gas. 24s Id; Electrolytic Zinc, 38s 3d; Wilsons Cement, 44s 3d; Mount Lyell, 435. At today's early call.—On 'Change: Bank of New Zealand, 61s 6d; Auckland Gas, 24s Id. Keported: Ratruk Basin Tin, 19s 6d (Australian sale); North Auckland Farmers. 3s 2d. At the midday call: —On ’Change—"Waihi Mining, 11s lid. Reported— Auckland Gas, 24s Id: ditto, (con.), 17s id: Huddart-Parker. 45s 9d: Booth, Macdonald. Is lOd: Wilsons Cements, 44s 3d; New Zealand Breweries, 28s 3d.

Market at Midday The banking and insurance groups sire quiet. Buyers of Unions of Australia have come in at .€ls Is 6d to find sellers asking €ls 6s. In coals, sellers of Westports* at 33s r..l failed to find support from buyers; tins scrip was dealt with on the * hristchurch market yesterday at 335.. i ‘ukemiros are very firm with buyers in at 70s and sellers asking 755. Northern Steams are, if anything, a little firmer, with sellers asking 14s sd, compared with the last recorded market price of 14s 3d. X.Z. Farmers’ Fertilisers register an casing tendency, sellers dropping to 24s 2d at midday, compared with the last recorded sale at 24s 4d. Wilsons «'ements continue very firm, further .sales being recorded at 44s 3d. Sellers arp hard to locate. Buyers of Ohinemuri Mining scrip moved up Id at midday, but sellers were not prepared to quote. ♦ * * VJnion Banks Show Greater Activity Union. Banks, following the payment the 7s 6d dividend, are showing slightly more activity on the lower levels. Commercials of Australia are quietly ■votive around 30s, at which price the return, based on the latest dividend, is

approximately €5 per cent. On a comparative basis the shares appear fairly good buying at this price. Nationals of New Zealand are also changing hand* in isolated parcels at a price which allows a return of approximately €5 per cent. Steady Increase In Mining Another slight revival of interest is noted in the mining group. Ohinemuris are very firm at the moment with holders, expecting something worth-while to eventuate at the mine in the near future, not keen to meet the market. Buyers at 8s lOd this morning failed to attract sellers. It is interesting to note in reference to this scrip that last year at this time the market valued it at 7s 2d; two years ago 'sellers a.t 4s 9d could not draw a declaration from buyers. Waihi Mining scrip holds steady on late levels.

A.P.A.’s Firmer Buyers of Australian Provincial Assurance scrip moved up to 13s this morning to bring sellers in at 14s. The market refuses to be influenced by the tendency in certain quarters to deprecate the chances of the company increasing its dividend rate to any appreciable extent in the near future. The Sydney market for scrip at the date of last mail was recorded as active, closing on July 24 with a middle price of 13s sd.

Tooth Brewery Proposal In submitting resolutions for increase of capital at an extraordinary general meeting held last month, the chairman announced that the directors have been engaged in negotiations for extension of the company’s activities, and arrangements are almost complete for the acquisition of Resch’s, Ltd., but the text of the proposed arrangements could not be given. The company adds that there is no intention of calling up fresh capital shareholders. Calls and Dividends Calls and dividends are due as follow: Dividends— Due. Electrolytic Zinc, % p.c., old. and pref. (final) ! Sept. 6 X.Z. Insurance, lid a share (final) August 6 Com. Bank of Australia, 4 per cent, p.a. (pref), 15 per cent., p.a. (ord.) August 8 Dominion Investment, 7 p.c. August 9 Victoria Nyanza Sugar, 7^ per cent (interim) August 31 Calls— Alburnia—2d a share .. •• .. July 31