FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 782, 1 October 1929, Page 10

FINANCE & MARKETS

Easing Tendency

An Uncertain Market

By “Xoon Call.”

FURTHER falls continue to be registered in tile market for most scrip in concerns dealing with the wool-grower. Banks with hig interests in Australia are suffering most. Little hnoyanev is recorded in any section, and it is becoming difficult to estimate the near future trend of the market. Further falls seem inevitable, as the very fact that conservative buyers are tending to adopt a “wait and see” policy and won’t buy meantime is accentuating the position.

Fluctuations Price movements, shown by a comparison of sales on the Auckland market over the past 24 hours with the price at the time of the previous recorded sale, include: Commercial Bank of Australia, fall of 9d. English, Scottish and Australian Bank, fall of 4s. New Zealand Breweries, fall of 6d. Northern Boot, fall of 3s. National Timber, rise of 6d (last recorded sale second week of August). Business on the Auckland Market Transactions on the Auckland market over the past 24 hours included the following: •Yesterday Afternoon. —Auckland Gas, 24s 8d; Union Bank of Australia, £l4 14 s’: Commercial Bank of Australia, 28s 3d: English, Scottish and Australian Bank. £8 2s 6d (two parcels): National Bank of New Zealand, £0 13s: Northern Boot. 9s 6d: New Zealand Breweries. 89s 6d; New Zealand Inscribed Stock. 1933, 51- per cent., C.lOl 2s 6d: Ohinemuri Mining, 9s 3d: Waihi Grand Junction. Is 3d. At today’s midday call:—On ’Change: Waihi Mining. 13s 3d. Reported: Waihi Mining, 13s sd; National Timber, Ss. * * V Transport Board’s Loan The Auckland Transport Board is now offering the first instalment of its proposed loan for tramway extensions and improvements: the amount offered investors at the moment is £120,000 at par carrying an interest at the rate of 5 V per cent. Kuala Kampar Tin Company In the first annual report, covering the period ended March 31, Kuala Kampar Tin Fields, Ltd., states that the company was incorporated on April 19. 1928, to actiuire, take over, and amalgamate the undertaking of Malim Nawar South, Ltd., Kuala. Kampar Tin. Ltd., and Tanjong Tualong Tin, Ltd. The statements now cover the period May IC, 1928, to March 31, 1929. The accounts show a net profit of £IOO,IBB, to which has been added the profit from April 26. 1928, to May 15, 1928, £ 3,102, transferred by the vendors, making £105,291 all told.

Three dividends amounted to Is 2d a share, and required £ 68,250. leaving £37,041 to be carried forw#rci. The dredges ran 19,218 hours, treated 5,976,000 cubic yards, and recovered

3,579 tons of tin. Costs were 3.72 d and realisation 8.53 d a cubic yard.. Capital is £585,000. liabilities total £9,562, and assets total £G37.982. Toohey's Brewery Progress Toohey'*s, Limited, made further progress during the year ended July 3i. the net profit of £185,295 comparing with £183,449. £174.103. £.162,915 and £144,132 back to 1925. Gross profit rose from £768,254 in 1928 to £782,922 in 1929. but expenses were gi'eater. With £24,059 brought in, £ 209,354 Hvas available. Dividend was again at the rate of 10 per cent., to which level it was raised from 9 per cent. in. 1927, the distribution requiring £120,000. For depreciation of plant and machinery, £15,000 has been set aside. The sum of £43,000 has been transferred to general reserve, raising it to £548,500. The balance of £42,834 is carried forward. The scrip in this Australian company is not often quoted on the Auckland market, but is fairly widely held in the South. Firm Tone of Gilt~edge Market The bright feature of the Stock Exchange market continues to be the very firm tone in the gilt-edge group. Buyers in this section predominate on very firm levels, and sellers are hard to locate. . The banking and insurance groups are quiet, and. if there is a big volume of business going through it. is not being recorded on the open market. Loan and agency shares are steady’, the market in this section showing little movement. Coals continue firm, but the actual turnover in the group has not been heavy. New Zealand Breweries are quiet, with the market showing an easing tendency. At the early call this morning sellers of the scrip at 90s were unsupported. This quotation was at midday. Sellers of the debentures at 30s 3d were unsupported. Dividends Payable Due. C. L. lnnes and Co. —S p.c. p.a. ord. and pref. (final) Oct. L. Bartholomew Timber—4 p.c. (final) Oct. 3 Bank of Australasia—7s a share (int.) Oct. 4. Carlton Brewery—l 4 p.c. for half-year Oct 5 Milne and Choyce—B p.c. p.a., shares and deb. stk Oct. 10. Waihi. Is a share (int.) .. Nov. J Farmers' Co-op. Auct., 8 p.c. p.a. N.Z. Guarantee Corp.—lOd a share on fully paid ords. and 4d a share on con. scrip . . . .