Market On ’Change

Sun (Auckland), Volume III, Issue 768, 14 September 1929, Page 12

Market On ’Change

By “Noon Call.”

AX easier tendency in the market for several of the betterclass securities has been one of the features of the market on ’Change over the past 24 hours. The speculative element is active: this is shown by the increasing strength of the market for New Zealand Breweries and the greater interest taken in certain mining and other shares in which the unearned increment aspect plays the leading part in assessing market value.

FLUCTUATIONS

Price movements, shown by a comparison of sales over the past 24 hours with the price at the time of the previous recorded sale, include:— Bank of New Zealand, fall of 3d. Grey Valley Collietres, fall of 2d. Auckland Gas, rise of Id. Huddart-Parker, fall of 3d. New Zealand Breweries (deb.) f rise of 3d. Waihi Junction, rise of 2d. Mount Lyell, fall of 3d (last sale in Christchurch yesterday at 45s 3d). Business on Auckland Market Transactions on the Auckland market over the past 24 hours included: Business yesterday afternoon. —New Zealand Inscribed Stock, 1932, 5$ per rent., £99 15s; Bank of New Zealand. H3s; Grey Valley Collieries, 29s 4d and 29s sd; Auckland Gas, 24s 7d; Hud-dart-Parker. 45s 6d; Leyland-O’Brien, 31s fid; New Zealand Farmers’ Fert., 22s 7d; Waihi Grand Junction. Is sd. Business this morning—On ’Change: Sanford, Ltd., 18s 2d. Reported: New Zealand Breweries (deb.). 29s 6d and 29s 9d: Sanford, Ltd., 18s 2d: Waihi Mining, 13s 4d; Waihi Junction, Is 7d; Mount Lyell, 4os. North Auckland Farmers’ Dividend Although the annual meeting of the North Auckland Farmers’ was hejd last week, the preference shares are still quoted cum div., with buyers in at 12s fid. The position in regard to this company is different from most in the fact that, although it has been decided to pay a dividend on the preference shares, the directors have not announced the date of payment. The ordinary scrip was sought at 2s 7d this morning, sellers asking 3s 6d. * * * Banking Group Shows Lack of Strength An easier tone is apparent in the banking section. Commercials of Australia have not recovered from the slight setback noted earlier in the week, and sellers at 30s this morning

could not attract buyers above 29s lOd. Nats, of New Zealand are practically neglected, and sellers casi.er at £6 18s this morning could not draw support from buyers. The fact that this institution has had to draw on reserves for two years in succession in order to keep up its dividend rate of 14 per cent, must have a certain bearing effect on the market. New Zealands are also easier, with sales at 635, compared with 63s 3d earlier in the week. m * m Market This Morning ! A rather quiet tone was registered ! in the market this morning and most lof the business was done after the call. ! In the insurance section, New Zea- ! lands have not recovered the slight i loss of strength noted yesterday; the market was even weaker this morning with sellers at 48s supported by buyers at 47s fid. The market for Goldsbrougli Morts is quiet, sellers at 46s 6d not finding support from buyers above 45s 9d. Dental and Medical shares are meeting more inquiry with a steady buyer in at 7s. The last recorded seller pf this scrip asked about 11s, but no sales have been recorded for several months. The market for Milne and Choyce moved up this morning to see steady buyers in at 27s for all issues of shares. In the mining group, Ohinemuris showed further weakness with sellers down to 10s Id. Alburnias are also weakening, sellers dropping to Is 2d this morning. * • * Dividends Payable Due. Iluddart-Parker—s p.c. ord.. 3 p.c. pref. (int.) Sept. 19. Kempthorne Prosser—4£ p.c. (int.) Sept. 24. ■ Pukemiro Collieries—ss a share (final) Sept. 26. Auckland Farmers’ Freezing Co.—G p.c. p.a Sept. 27. Hume Pipe—B p.c. p.a. (final) .Sept. 30. British Tobacco—22 p.c. ord. (int.) Sept. 30 Whittome Stevenson, 2s a share (Anal) Sept. 30 C. L. Innes and Co.—S p.c. p.a. ord. and pref. (final) Oct. 1. Bank of Australasia—7s a share (int.) Oct. 4. Milne and Choyce—B p.c. p.a., shares and deb. stk Oct. 10.