Market On ’Change

Sun (Auckland), Volume III, Issue 796, 17 October 1929, Page 10

Market On ’Change

By

"Noon Call.”

OXE of the features of business on ’Change at the moment is the further weakness in the market for several bank shares. Commercials of Australia show the biggest fall; Unions and N.Z.’s weakened yesterday. A healthy volume of business is recorded with interest spread over a comparatively wide range.

FLUCTUATIONS Price movements on the Auckland market over the past 24 hours, shown by a comparison with the price at the time of the previous reported sale, include: Union Bank, fall of 1s 6d. Commercial Bank of Australia, fall of 7zd. Business on Auckland Market Transactions on the Auckland market over tho past 24 hours have included: Yesterday afternoon: —Bank of New Zealand, 60s Id; Pukemiro Collieries, 70s; Union Bank of Australia, £l4 13s 6d: Electrolytic Zinc. 35s 6d; Ley-land-O’Brien, 31s fid; Mount Lyell, 42s 3d: Moanataiari Mining (2s 2d paid), 3id. At this morning's early call:—Commercial Bank of Australia, 28s 3d and --8 s lid: Pukemiro Collieries, 70s; AVaihi Mining. 13s sd. At the- midday call —Moanataiari Mining (2s 2d paid), 3Jd and 3id. * * * Mining Company Reports Tho secretary of Gold Seekers, Ltd., reports that much work has been done recently on the company’s claim at < ’oromandel, the reef receiving attention. The reef is encased in hard but favourable rock and averages six inches of Quartz which showed colours of gold. Several nice specimens were secured after the last breakingdown. The manager of Hauraki Mines, Ltd., reports that stripping operations . re again in progress and breakingdown will take place within the next day or so. Strong blotches of gold have been selected from the stope ahead of this one. also pieces of rich stone from the hangingwall pug formation in the seaward stope in breaking away from the block rise.

A Quiet Morning The market at midday was quiet and practically no investment business was

recorded. There is again an atmosphere of uncertainty in regard to the near future trend and investors are showing considerable wariness in placing their offers. That the Australian elections are having at least some effect on the market is indicated by the fact that much of the present weakness in the banking group is a reaction to influences from across the Tasman which have been felt over the past 24 hours. This is particularly noticeable in connection with Commercials of Australia, which have been offered from Sydney at 28s l£d. The market for sound New Zealand concerns in the insurance group is very firm. Sellers of South British have withdrawn meantime. In tho coal group Pukemiros are selling freely at 70s. Renowns are very firm, but practically no business is recorded. Shipping shares are also receiving a comparatively big weight of attention, with the market for most shares steady to firm at late quotations. ■Woollens and timbers continue idle and neglected. Taranaki Oils are slightly firmer, due no doubt to the fact that the company is to start drilling by the new process at its Gisborne bores in the near future. Mining is receiving more attention, but there is little strength In the market for any shares. Dividends Payable , Due. Amalgamated Brick and Pipe Co., intermim, 3 p.c Now Milne and Choyce—B p.c., p.a., shares and deb. stk. halfyear Now British Tobacco—pref., intermim, 6i p.c. p.a Oct. 31 Aus. Iron and Steel—pref., interim, 75 p.c. p.a Nov. 1 Waihi Gold Mining Co. —Is a share Nov. 1 N.Z. Guarantee Corp.—lOd a share, fully-paid ord., 7 p.c. pref., 4d con Oct. 12 Broken Hill South—ls 6d a share .. Nov. 15

TODAY’S QUOTATIONS

BUTTER AND CHEESE Merchants report receipt of overseas cables relative to the dairy produce market as follow: Joseph Nathan and Co., from Trengrouse and Nathan, Ltd., London: “Butter, 182 s. Cheese, white 945, coloured 935. Both markets quiet.” Newton King, Ltd., from R. and W. Davidson, Ltd., London: “Butter: Market firm; salted, 180 s to lS4s: unsalted, 186 s to 190 s. Cheese: Market quiet: coloured. 93s to 945; white, 94s to 955.” Dalgety and Company, from the head office of the company, under date October 15: —“Cheese: New Zealand cheese, Is lower: coloured, at 92s to 935: white, at 93s to 945.” Kelliher and Qompany, Ltd., from Messrs. Whiteley, Muir and Co., under date October 16:—“Butter: Market firm: finest. 182 s to IS4s; no forward buying. Cheese: 92s to 945: market weak.”

COMPANY REGISTRATIONS BAKERIES AMALGAMATION Recent private company registrations at Auckland include a concern with a capital of £IO,OOO, which aims to take over as going concerns existing bakery businesses at Pukekohe. Details of the three registrations are:— Campbells Beach Estate.—Capital, £2,000, in £lO shares. Objects: Dealers in property and real estate. Subscribers: A. M. Popple, 20 shares; G. L. Taylor, 59 shares; R. E. Taylor, 1 share; T. L. Paget and R. Cock, 60 shares each. Capitol Theatres, Ltd.—Capital, £3,000, in £1 shares. Objects: Picture theatre proprietors, etc. Subscribers: J. M. McKenzie, 3,500 shares; A. D. Alexander, 250 shares; Percy Sawyer, M, 000 shares; C. G. Love grove, 250 shares. Franklin Bakeries, Ltd.—Capital, £IO.OOO, in £1 shares. Objects: To acquire as going concerns established bakery businesses in Pukekohe. etc. Subscribers W. Macpherson, E. W. Evans D. B. 4V allace,• A. C. Doe, T. Beaghan, W. McKeich, C. A. McKeith, D. B. Patterson. P. E. Gray and J. Poster, 500 fully-paid shares: A. C. Perkins 300 shares; M. G. Haley, 350 shares; M. Blackie, 250 shares. Tfc AWAMUTU DAIRY CO. An increase of 18 per cent, is shown in the output of the Te Awamutu Dairy Company for September, compared with that of the corresponding period of last year. For the first four months of the current season the company has put through 14S tons of butter, an increase of 15 per cent, on the figures of last year. This week the company will pav out £10,508 at the rate of Is a lb for superfine butter-fat for September supplies.

Closing Quotations at today's mid-day Buyers. Sellers. £ . d. £ s. d. BANKS— Aust. of Commerce 1 12 0 Adelaide 10 0 Australasia Com. of Australia . 1 7 1ft 1 8 Ditto (pref.) . . . . 7 4 0 7 10 0 Enp., Scot. Auk. 1G National of X.Z. . . 6 34 G 6 18 Nat. of Australasia . ly i 0 Ditto (con.) .. .. 9 3 G New South Wales . 48 15 ft 4ft 5 ft New Zealand 1ft 1ft 3 0 Ditto (D. Mort.) 1 Union of Australia . 14 12 G 11 15 0 INSURANCE— National .. .. .. .. n Pi 0 17 ft New Zealand .. .. G G 2 6 Queensland 3 3 0 South British .. .. 6 0 United — 10 2 0 LOAN AND agency— Dalcretv and Co. 13 17 6 14 4 ft Farmers Co-op Auc 3 IS 0 4 3 0 Ditto A (pref.) . . 0 IS 0 0 1!* 6 Ditto (B pref.) .. 0 17 ft 0 IS ft OoMshrough, Mort . . 4 s 2 4 S Newton Kinp (ftref. > ft 13 6 N.Z. Guar Corp ft 9 G N. Auck. Farmers' < 'o-op. (ord.) .. ft ft Ditto (B pref) . . 0 11 0 0 13 0 TOAD«Trey \ alley . . . . 1 9 G Hikurangri (prei.) 0 4 6 Ditto A (pref.) .. 0 3 6 0 5 ft Pukemiro 3 11 6 Renown ft 16 ft 0 16 9 Ditto (pref.) .. .. 0 0 Ditto (new issue) ft 2 — Taupiri 1 ft 0 — Ditto (pref.) .. .. 1 Waipa ft 13 3 ft 14 \S estport-Stock ton ft ft 0 3 Ditto (pref.) .. .. 4 0 — GAS— Auckland . 1 4 s — Ditto (con.) .. .. 0 IS 0 0 IS 4 SHIPPING— l >evonport Ferry .. 1 0 l 3 ft Ttoward Smith .. .. 1 3 Uuddart-Parker 0 Northern Steam 14 0 15 1 Ditto (con.) . . . . 0 G s 0 7 1 P. and O. (def. stock) 3 ft 0 Union Steam (pref.) 1 0 0 — TIMBER— * Kauri Timber .. .. — 0 17 ft 1 .ey land-O’Brien — 1 12 ft National 0 8 0 ft 9 Parker-Lamb .. O’ 17 9 WOOLLEN— Kaiapoi 0 11 G 0 33 Ditto (prei.) 0 17 0 BREWERIES— C. L. Innes 1 1 0 — Ditto (pref) .. .. 1 1 — N.Z. Breweries 4 S J. Staples and Co. 2 13 0 2 0 MISCELLANEOUS — Auck. Amuse. Park 0 2 0 Australian Glass 2 15 0 2 17 3

:al] were:— Buyers Sellers £ d £ s d Aust. Iron and Steel (pref.) 1 1 9 British Tobacco 7 0 7 Burns, Philp Bycroft, Ltd Dental and Medical. 0 7 9 Dominion Pictures . 1 0 * Ditto, (pref.) 1 0 a Dunlop-Pe'rdriau 1 7 0 Electrolytic Zinc (ord.) .. .. .. .. 1 14 9 1 J.5 3 Ditto (pref. ) . . .. 1 14 9 1 16 0 Farmers’ Trading .. 0 9 n 9 6 Ditto (A pref.) 0 17 0 0 18 3 Ditto (B pref.) 0 13 9 0 16 0 Gear -Meat 2 3 0 Grey and Menzies . 0 10 6 Hayward's Pictures 0 19 5 Henry Jones Co-op. 1 13 0 H.M. Arcade (pref.) 1 1 0 Lewis Eady (pref.) 1 0 0 Milne and Choyce . 1 6 6 Ditto (pref.) .. .. 1 6 6 Ditto (B pref.) .. t Ditto (deb. stock) 1 6 N.Z. Farmers’ Fert. 1 1 9 1 6 N.Z. Paper Mills .. l 0 n N.Z. Refrig. (con.) 0 5 9 0 6 2 Northern Boot . . . . 0 8 3 Ice Cream 1 4 6 Sanford, Ltd 0 18 4 Taranaki Oilfields . 0 0 0 6 0 i Thames Theatre 0 11 0 Whit tome-Stevenson 2 0 6 Wilsons Cement 2 2 6 2 2 9 MINING— Alb urn ia (2s lOd pd) 0 0 4 0 1 1 Moanataiari (pd.) .. 0 0 1 1 Ditto <2s 2d pd.) 0 0 0 0 6 Ditto (Is 6d pd.) 0 0 1 Kawarau 0 0 3 0 0 9 Lucky Shot (4s pd) 0 1 6 Ditto (con.) . . . . 0 0 10 Ohinemuri (ord.) 0 9 4 0 10 0 Ditto (pref.) . . . . 0 9 6 0 10 6 Waihi 0 13 4 0 13 b A\ ailii Grand June. . 0 1 0 1 7 Mount Lyell .. 2 1 9 2 2 b DEBENTURES— Auckland Harbour Board, 4 p.c. .10 0 Ditto, 1947, 5 i p.c. 101 0 0 Auck. Hosp. Board, 1931. Hi p.c 101 0 0 103 0 0 Auckland Fire Board, 102 0 0 104 0 0 N.Z. Breweries 1 9 0 1 9 6 Gisborne Sheepfarmers — 100 0 0 GOVERNMENT BONDS— War Loan, 1930, 4J 10 0 Ditto, 1938, p.c. 100 0 0 Ditto, 1939, 4} p.c. 100 0 Ditto, 1941, p.c. 100 0 Ditto, 1933, p.c. 99 10 0 Ditto, 1933, 5} p.c. 100 If) 0 101 15 0 Ditto, 1936, 5} p.c. 101 » 0 — INSCRIBED STOCKWar Loan, 1938, 4i 100 0 0 100 12 6 Ditto, 1939, p.c. .100 0 0 Ditto, 1927-41, 5i. 99 10 0 Ditto, 1933, 5i p.c. 99 30 0 Ditto, 1933, 5i p.c. 1 00 15 0 101 10 0 Ditto, 1936, 5i p.c,. 101 0 0 —