HEAVY TRADING

Sun (Auckland), Volume III, Issue 738, 10 August 1929, Page 12

HEAVY TRADING

Market on ’Change

By

“NOON CALL"

A HEAVY volume of business lias been recorded on Change over The past 24 hours. Interests of investors are widespread, taking in all tested stocks.

FI uctuations Price movements, shown by a comparison of sales over the past 24 hours an ith the price at the time of the previous, recorded sale, include: A.P.A...rise of 9d. Wilsons Cement, fall of 3d. Taranaki Oils, 11d. North Auckland Farmers (B pref.), rise of 3d. Renown Collieries, fall of l^d. Electrolytic Zinc, rise of 6d. Farmers’ Trading (ord.), rise of Is. Business on the Auckland Market Transactions on the Auckland market over the past 24 hours have included the following: Yesterday afternoon. —Union Bank of Australia, £ls Is (two parcels); New Zealand Insurance, 47s 6d; Australian Provincial Assurance, 13s 9d; Renown Collieries, 16s 9d; Auckland Gas. 24s Id; P. and O. (def. stock), 555; Colonial Sugar, £57 10s; Electrolytic Zinc (pref.), 39s 6d: Taranaki Oilfields, 3s 11 Od and 3s lid: Wilsons Cement, 44s 9d; Mount. Lyell Mining, 43s 3d; Ohinemurl Mining, 10s 3d (two parcels); Farmers' Trading (B pref.), 14s. This Morning.—On ’Change: Auckland Gas, 24s Id: Wilsons Cement, 44s 9d. Reported: .North Auckland Farmers' Co-op. (B pref.), 12s 6d; Ohinemuri Mining, 10s 3d; Farmers’ Trading, 9s; New Zealand Farmers’ Fertiliser, 23s 6d (two parcels); Mining, 10s 21d; Northern Boot, 12s 6d; Kleetrolytic Zinc, 39s 6d. Market This Morning The banking group is very firm. New Zealands show further strength, with buyers offering 62s 3d this morning. and sellers holding for 63s 3d. In the insurance section Australian .Provincial Assurance scrip changed hands at 13s 9d in response to increased inquiry from across the Tasman. More wanted at this price this morning failed to attract a declaration from sellers.

Hikurangi Coals appear to be more strongly held, and with buyers for all issues sellers are not attracted into the open market.

In the miscellaneous group shares in A. J. Entrican, Ltd., are offered, but buyers are not interested. Colonial .Sugars saw further sales at £57 10s; This market is rather erratic, for despite the fact that there appear to be consistent sellers at that figure

on the New Zealand market, cables from Melbourne yesterday indicated a market price around £SB. Wilsons Cements were a little easier this morning, and following sales at 44s 9d, 3d under the previous recorded sale price, buyers withdrew to 44s 6d. Taranaki Oils have a decidedly firmer tone. * * * Waihi Crushing Returns The crushing returns of the Waihi Mining Company for the period ended July 27 make interesting reading in view of the fact that they show' that the Junction property to be giving a considerably higher ratio of return than the old Waihi mine. Of a total tonnage of 17,596 tons of ore crushed, the return worked out at approximately 33s 01$ a ton; 977 tons of this taken from the Junction area yielded approximately 56s lgd. The return a ton of stone handled from the Waihi mine worked out at approximately 31s BJd. The market for Waihi scrip this morning was a litle easier, sellers at yesterday’s market price not being able to make a sale. • * * Demand for North Auckland Farmers’ Both the ordinary and the B preference issues of North Auckland Farmers’ meet with a steady demand. Both issues merit attention. The ordinaries on a market in the vicinity of 3s 2d, fully paid at Ss, have a N speculative attraction in the fact that the company under right management should consolidate its position and make sound progress over the next few years. The preference issue, fully paid at £l, carries an interest rate of 6 per cent., and on the present market, around 12s 6d, the return to the investor is approximately £9 12s per cent. On the present market the shares seem good buying to make up a spread. • * m Dividends Due Dominion Investment A, B and C shares .. . . Today. Victoria Nyanza Sugar Co., Ltd. —lnterim dividend of 7£ p.c. (Is 6d a share) .. .. .. Aug. 31. Wellington Woollen—lo p.c. p.a. Aug. Bank New South Wales—lo p.c. p.a. (int.) Aug. 27. Standard Insurance—Final dividend of Is 3d a share .. . . Sept. 3. Electrolytic Zinc—6 p.c. ord. and pref. (final) Sept. 6. Holden’s Motors —Is a share ord. (final), making 10 p.c. p.a. and S p.c. A and B pref. Sept. 11