Heavy Trading

Sun (Auckland), Volume III, Issue 755, 30 August 1929, Page 10

Heavy Trading

MARKET ON ’CHANGE

By

“Noon Call.”

HEAVY trading is recorded on ’Change. Ample funds appear to be available for investment, and the demand is confined chiefly to stocks giving an immediate return.

Pric« movements on the Auckland market shown by a comparison of sales over the past 24 hours with the price at the time of the previous recorded sale, include: Waihi Mining, rise of 3d. Sanford, Ltd., fall of Id. Auckland Gas, rise of Id. North Auckland Farmers’, fall of 2d. Australian Bank of Commerce, rise of 3d. Renown Collieries, fall of 9d. Business on Auckland Market Transactions on the Auckland market over the past 24 hours have included the following: Yesterday afternoon’s business: —On ’Change; Waihi Goldmining Company, 12s lOd. Reported; Commercial Bank of Australia (ord.), <£ 1 9s 9d; Bank of Xew South Wales, £sl 10s; Bank of Xew Zealand. £3 3s 6d; Union Bank of Australia (Melbourne registry), £ls 3s 6d; Milne and Choyce (deb. stock), £1 6s 7d; Wilsons Cement, £2 4s 4d; Waihi Goldmining Company, 12s 8d; Auckland Harbour Board, 5& per cent., £lOl 10s: New* Zealand Government War Loan, 1930, 45 per cent., £99 10s. At this morning's early call:—On Change; Commercial Bank of Australia, £ 1 9s 9d; Bank of Xew South Wales. £sl 10s; Australian Provincial Assurance, 14s. Reported: New Zealand Loan and Mercantile (ord.). £125 I Os: X>ltto (pref.), £SS; Taupiri Coal • ord.), £1 9s: Auckland Gas, £1 4s 4d; ICaiapoi Woollen (ord.), 14s l£d; Sanford (ord.), 18s sd. At the midday call. —Reported: Australian Bank of Commerce, 36s 3d; Dalgety and Co., £ls 2s; Renown Collieries, 15s 9d; "Westport Coal, 345; Waihi Grand Junction, Is 9d; Auckland Gas, 1935. 65 per cent., £103; North Auckland Farmers’. 3s.

K««n Demand for Banks One of the features of the market is the very' keen demand for banks. Commercials, ex div., hold their recent improved strength, and are meeting with a steady demand at 29s 9d; sellers at this morning’s early call withdrew to 29s lid. Even at this price the scrip shows an approximate return of slightly over £5 per cent. Xew South Wales scrip is active, ex div., at £sl 10s, the market closing at this morning’s early call with a middle price slightly in advance of that figure. Unions of Australia are also very firm, scrip on the Melbourne register

showing an advance of Is over the week. # <• • Weaker Tone in Coals A slightly weaker tone is recorded in the coal group. Pukemiros were offered at 74s 9d this morning, but failed to find support. Taupiris have also recorded an easier tendency over the week. Grey Valleys meet with a steady demand, but even this scrip is a little easier. The market has fairly reliable grounds for anticipating a dividend somewhere in the vicinity of 10 per cent, from the Grey Valley Company this year. The company’s year closes on September 30. a * * Market at Midday A feature of the market at midday was the very firm tone in certain sections of the mining group. Waihis, and Waihi Junctions, are very firm, and are showing an upward tendency. The movement in the Waihi district to investigate the possibilities of reviving the industry is partly responsible fo.r the better tone in the whole group. British Tobaccos are firmer, with sellers at 50s, supported by buyers at 48s 6d. Farmers’ Trading are very firm. ■* * * Mining for Scheelite A message from Dunedin reports that the Glenorchy Scheelite Mining Co. is about to recommence operations at the head of Lake Wakatipu. The mine there lias been idle since 1919. It is hoped that with the improved market conditions in respect to scheelito the company’s operations will have a fair chance of success. Scheelite is a source of tungsten and tungsten compounds. Dividends Due Due. Victoria Nyanza Sugar Co., Ltd. —lnterim dividend of 7J p.c. (la 6d a share) .. Aug. 3L Wellington Woollen—lo p.c. p.a. Aug. Bank New South Wales—l® p.c. p.a. (int.) Aug. 27. Standard Insurance—Final dividend of la 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 8 p.c. A and B pref. Sept. 11 North Auckland Farmers —6 p.c. p.a., pref Sept. 6.