MARKET ON ’CHANGE

Sun (Auckland), Volume III, Issue 779, 27 September 1929, Page 10

MARKET ON ’CHANGE

By “Noon Call.” x TEE more or less expected announcement of an increase in the London bank rate has come as a further factor to exercise a bearing effect on the Stock Exchange market. Steady trading over a comparatively wide range is recorded on X.Z. ’Changes, but there is little life in the market in any section.

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:— National Bank of New Zealand, fall of 9d. Electrolytic Zinc (pref.), fall of 3d Auckland Gas (con.), fall of 1 d. Com. Bank of Aust., fall of 6d. Devonport Steam, rise of 6d. Aust. Bank of Com., fall of 6d. Farmers’ Trading, fall of 2d. Business on Auckland Market Transactions on the Auckland market over the past 24 hours have included the following: yesterday afternoon: —-National Bank of New Zealand, £6 16s 3d: Westport «*oal. 34s 3d: Devonport Steam, 22s 3d; Electrolytic Zinc. 36s lid: do. (pref), 36s 9d: Wilsons Cement. 43s 6d. At this morning’s early call:—Auckland Gas (con). ISs 2d; Com. Bank of Australia, 29s 6d. • At the midday call. —On ’Change: Devonport Steam, 22s 6cl (two parcels); Wilsons Cement. 43s 6d. Reported: Aust. Bank of Commerce, 345; Union Bank of Australia. £l4s 16s (Melbourne Register): Farmers’ Trading. 9s 2d: Wilsons Cement. 43s 6d: Waihi Mining, 13s 6d; X.Z. Breweries (deb), 30s 6dMarket Active at Midday Greater activity was registered in the market at midday, and a comparatively heavy volume of business was recorded. Declines still predominate in the fluctuations list, however. In the loan and agency group, Farmers' Co-op. Auctioneering arc very firm, no doubt as a result of the bal-ance-sheet returns published this week. .Sellers of the scrip at anything approaching buyers’ ideas of value are hard to locate. Devonport Steams are meeting with a very steady demand, the market showing an advance of 6d on last week’s prices. It is interesting to remember that this scrip was selling around 25s at this time last year. Timbers are weak and neglected, not even the dividend returning companies attracting buyers. Farmers’ Trading, which were dealt with during the morning at 9s 2d, show a. slightly easier tone. Shares in most motion picture com-

; panies at the moment are neglected Hayward' s*. offered at 19s 6d, fail ti draw' an offer from buyers. The mining section continues quiet Yesterday’s Sales on Southern ’Changes Sales made on Southern Exchange: yesterday included the following: ■ Wellington.—Westport Coal, 34s -id Electrolytic Zinc (pref), 37s 10Sd. Dunedin. —Christchurch Gas. 26*s 6d; Kempthorne Prosser, 73s 9d; N.Z. Refrigerating (con.), 6s 6d: Big Bead , Mining, os 3d (4 parcels): Kildare, 3: ' 2d. ! Christchurch. —Ins. Stock, 1930. 4' per cent., £99 7s 6d; X.Z. Farmers’ Co op., 1039. 6i per cent., £95 10s; National Bank New Zealand (late sale September 25), £6 17s; Goldsbrough, Mort (2), £2 3s lOd; ditto (2), £2 4s: Devonport Steam. £1 2s: Carlton Brewery £2 6s; Staples’ Brewery, £2 14s Beath and Co, Is paid (3). 9s 9d: N.Z Refrig. (10s paid), 6s Sd: United Building (odd parcel), 15s lOd; Mahakipawa Mining, 3d; Winding Creek (6c \ paid)', Is 9d. Alburnia Gold Mining Company In their half-yearly report for tin period ended August 31, the director, of the Alburnia Gold Mining Company Btd., state prospects at the mine ari very promising and that the mine man ager is confident that good result, should follow the completion of tin work now' in hand. Expenses incurrec I in -working at the mine, including supplies, amounted to £1,506 during tin half-year. The company shows casl on hand £397 and unsold capital a £937. Dividends Payable Due. Auckland Farmers’ Freezing Co.—6 p.e. p.a Sept- 27 Hume Pipe—B p.c. p.a. (final) .Sept. SO British Tobacco—2s p.c. ord. (int.) Sept. 3' Whlttome Stevenson, 2s a share (final) Sept. 3i C. I-. Innes and Co.—S p.c. p.a. ord. and pref. (final) Oct. 1 Bartholomew Timber —1 p.c. (final) Oct. Bank of Australasia —7s a share (int.) . .. .. * Oct.* 4 Carlton Brewery—l 4 p.c. for half-year Oct. Milne and Choyce— ii p.c. p.a., shares and deb. fctk Oct. 10 Waihi. Is a share (int.) .. Xov. • Farmers’ Co-op. Auct., S p.c. p.a.