Better Tone in Banks

Sun (Auckland), Volume III, Issue 786, 5 October 1929, Page 12

Better Tone in Banks

MARKET ON ’CHANGE By “Noon Call.” A FEATURE of the market on 'Change over the past 24 hours has been the steadier tone registered in quotations for several bank shares. Prices, in some instances, show a slight improvement. The turnover in any section is not large, and the market generally still registers an atmosphere of uncertainty as to near future movements.

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 N.S.W., rise of ss. National Insurance, fall of 3d. Bank of N.Z., fall of 6d. N.Z. Insurance, fall of 1s 3d. South British Insurance, fall of 1s 6d. Mount Lyell. fall of 3d. Taupiri Coal, riae of 3d. Kempthornc, Prosser, fall of lO^d. Waihi Junction, fall of I±d. Business On the Auckland Market Transactions on the Auckland market over the past 24 hours have included: — Yesterday afternoon. —South British Insurance, 65s (two parcels); Bank of .Yew Zealand, 60s 3d: New Zealand insurance, 46s 3d; National Insurance, ? 6s sd; Mount Lyell, 43s 9d. Business this morning.— On Change: Bank of New South Wales, £4S 5s (four parcels). Reported: Australian Bank of Commerce, 33s Cd (late sale Friday): Taupiri Coal, 29s 6d; Waihi (Irand Junction. 3s Prosser's N.Z. Drug, 745. N.Z. Breweries Easier The market for New Zealand Breweries has a decidedly easier tone. Shares which two weeks ago sold at 90s changed hands at down to 47s Cd on rhe Christchurch market yesterday. On the Auckland market this morning sellers at 4)s 6d found support at 465.

The debentures are also weaker, with sellers at 29s 3d and buyers Is 9d below that figure. Bank of N.S.W. Firmer The market for Bank of New South Wales scrip registered a slightly firmer tone this morning, several sales taking place at £4B ss. At this price the return, based on the latest dividend, is approximately £4 19s 3d per cent. New South Wales scrip sold down as low as £47 15s on the Melbourne market during the past day or so. Dominion Rubber Company The secretary of the Dominion Rubber Company lias received advice from the estate that the crop of rubber harvested for September was 43,0001 b. . These shares have not been quoted on the Auckland market for several months. In the last issue of the Stock Exchange Gazette the approximate market price of the scrip was shown at 30s. * * * Alexander Mines The secretary of the Alexander Mines advises that the clean-up for September showed 296 tons of ore crushed for a result of 2460 z. of melted gold; the cyanide plant handled 317 tons of sand for a result of 250 z of bullion. The total takings for the month amounted to £1.105. Dividends Payable Due. shares and deb. stk. .. Oct. 10. Waihi. Is a share (int.) .. Nov. 1 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 .. ..