FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 812, 5 November 1929, Page 10

FINANCE & MARKETS

An Active Market

Heavy Trading in Commercial Banks By “Noon Call.” TRADING on the Auckland market this morning opened vrith the heaviest volume of business recorded at a 10 o’clock call for many months. The turnover was confined principally to stocks which suffered in the recent depression and which are now moving back to higher levels.

Flue tuatipn» Price movements, shown by a comparison of sales on 'Change over th(e past 24 hours with the price at the time of the previous recorded sale include: Commercial Bank, rise of 9d on last Auckland sale. Goldsbroirgh Mort, fall of Id. South British Insurance, rise of Ad (last recorded sale in Dunedin on Friday). Sanford, Ltd., fall of sd. Business on Auckland Market Transactions on the Auckland market over the past 24 hours included: Yesterday afternoon: Union Bank ol Australia, £l4 12s; New Zealand Insurance, £2 6s 3d: South British Insurance, 65s 6d: San ford, Ltd., 17s 9d. At this morning’s early call: On ’(*hange—Commercial Bank of Australia. 27s 9d (9 parcels): National Bank of Australasia, £lB 10s; Union Bank Australia, «£l4 12s (Melbourne register): South British Insurance, 65s 6d; Ooldsbrough Mort, 43s 3d; Kemptfiorne Prosser, 745: New Zealand Farmers' Fertiliser. 225. At -Mid-day: Union Bank of Australia. £l4 10s 9d; National Insurance, 16s 4d; Gear 445. o • « Taranaki Oil Progress A P.A. message from Gisborne states that, the Taranaki Oil Company reports:— Gisborne No. 2 well-derrick completed, erection of machinery in progress: weather conditions good. Kotuku: No. 1 test hole caving In prevents further progress; preparing to make another test near same location. • * • Broken Hill South Broken Hill South for the 12 months to June 30 last earned the very satisfactory net profit of £358,259, compared with £208.362 for last year, and £320,51S for 1926-27. The gross mining profit was £361,762, or £183,334 greater than last year, while the revenue from investments amounted to £115,148, compared with £101,633 in 1927-28, and £82,749 for 1926-27. • The working costs a ton of crude ores have been further reduced to :>7s 7.2 d a ton. compared with 38s 0.5 d tor 1927-28, and 40s 10.6 d for the year before that. The profit for the year is 442 per cent, on capital, or almost 9s a share, compared with 26 per cent. (5s 2d a share) for last year. Crude ore treated for the year under review was 318,700 tons, compared With 336,230 for 1927-28, and 311,500 for the year previous to that. The present dividend of Is 6d a share a quarter takes only a trifle more than two-thirds of the profit earned, so that subject to any marked fall in the price of lead the company should have little difficulty in maintaining the present distribution. • • * Mine Managers’ (Reports Mine managers report as follow: Moanataiari.—The shaft has been sunk a further 5 feet, a total of 22 t>et. It is hoped to install the sock drill this week. Alburnia.—The leading stope on the piain Orlando lode has been carried along for a distance of 20 feet. Four pounds of pitted stone were selected during last week. The rise on the cross leader from the drive nortli of the hanging wall branch of the Orlando lode has been risen 6 feet, a total of 37 feet. - Lucky Shot.—The rise for the stope above the No. 2 winze is up 15 feet. The drive north of the No. 2 winze at the intermediate level has been ex-

tended 8 feet. Gold can be seen freely in the reef. Golden Age.—The drive on Fox’s leader has been extended 9 feet for the week. The reef is 18in wide and is lying very flat at present and encased in a splendid class of country. The ore is carrying a little mineral and silica. Occidental-Una.—The hanging wall leader north-west of the shaft at each breaking during last week showed strong dabs and colours of gold; in this stope it averages lOin wide. * * * Banking Group Active Commercial Banks, -following a rising market of yesterday, when the scrip was dealt with in the South at from 27s 3d to 27s 9d. were active at this morning’s early call, approximately 1,000 shares changing hands in Ihe room at 27s 9d. At that price the return is approximately £5 Ss Id per cent. The market was slightly easier at midday. Other bank shares met with a stee.dy demand, although indications are not wanting to show that the market has improved just about as far as it will go meantime. Unions of Australia, which moved up 5s on the previous sale to change hands at £l4 12s last evening, were easier at midday, when sales were recorded at £l4 10s 6d. * * * Kuala Kampar Tin Kuala Tins, which changed hands yesterday at 11s sd, weakened this morning to a middle price of 10s 6d following news from the company's claim that trouble had been experienced w'ith one of the dredges. * * * Eng., Scot, and Aust. Dividend A cable from across the Tasman advises that the directors of the English, Scottish and Australian Bank have declared a final dividend at the rate of 7i per cent, for the half year, making 12 h per cent, for the year. * * * The Midday Market The increased strength of the market for Dalgety’s is one of the features of the loan and agency group, buyers moving up to £l4 2s 6d at midday, compared with sales last week at £1.3 19s 6d, Goldsbrough, Morts, are very firm. In coals, Pukemiros continue to meet with a very firm inquiry, with sellers hard to locate; buyers moved up to 70s 6d this morning, without drawing sellers into the market. Breweries are a little firmer, but no sales have been recorded. Mining scrip meets with a speculative inquiry, but there is little strength in the market. The gilt-edge section shows a decidedly firmer tone, buyers predominating. * * * Dividends Payable Due. Bank of Adelaide—interim, 10 p.c. p.a Nov. 6 Anthony Hordern—interim (half-yearly), pref., 7J p.c. p.a., ord. 8 p.c. p.a Nov. 13 Dalgety, Ltd., 3 p.c. and bonus of 7s a share Nov. 14 Queensland Nat. Bank.—interim 10 p.c. p.a Nov. 14 Northern Steam, interim (half-yearly), at rate of 8 p.c. p.a Nov. 15 Broken Hill South—ls 6d a share . Nov . 15 Burns-Philp—interim (halfyearly), 10 p.c. p.a Nov. 15 Taupiri Coal—interim, Is a share, ord s Nov. 16 Nat. Bank of Australasia— Ord. and con., interim 10 P-c. p.a Nov. 27 NZ. Paper Mills—interim, 3J p.c. Nov. 29 Sharland and Co.—Pref. and ord. (final), 41 p.c Nov. Aust. Glass—interim, at rate of 0 p.c. p.a. on prefs., and 10 p.c. on ords Dec. 1

TODAY’S QUOTATIONS

cising quotations at today's mid-day call were:— Buyer*. Sellers. Buyers Sellers. £ s d. £s. d. £s 4 d. £s. d.

MARKETING RESEARCH ADVERTISING INVESTIGATION CAUSE OF BUSINESS FAILURES “Within the past 10 years or so there has been a marked development of interest. especially in North America, among the owners of advertising media In the establishment of research or merchandising information departments,” said Dr. E. P. Neale, in an address at the third session of the Auckland Advertising Club convention at the Chamber of Commerce last evening. This had been in line with an effort to reduce the percentage of advertising failure and to develop the marketing lac *s vital to business success, continued Dr. Neale. Advertising had approached such an exact science that, it was claimed in America that one need never advocate it without a study of conditions. The setting up of research departments involved a recognition that the most difficult problems of economic life today were those of distribution and marketing rather than those of actual production The range of selling territory was now so enormous and the local variations so many and so fluctuating that o£ determining and visualising conditions was a research task of d i fflCU , lty ' Quick action in getting tacts, clear thinking in understanding them, and in correlating vSious groups of facts were the important requirements. Many failures were a? the Imh ade <luate sales analysis Much rtr," I ', Stase of a business. MUCH of the high mortality among modern business was a^ r ’*i° nfld i nt optimism, lack of facts analyst. abS ° PCe ° r the *abit ° £ Thousands of pounds are wasted every year by manufacturers who omit for Ui C e lr n n s Wh . at .. iS the neal demand auction products,” said Dr. Neale. The stand in ?i £ h °T- they were likely to could be taci? S s mation of th 6 Public from the nnim ,° n . seneral grounds psychology by inquiring mo co J lsumer tions mquiiing into such quesideal nl-J' a- ex l^n g pre-conceived n’ pne-jnthees and nations of the q!e!tion r of a ! d their sta ndards in the etc duality and service, etc. Lius method was not exact inri In ™° le < practical method of eliminat“c;i V t aSte ,. could . usually be found stantly Yn TeedTof fevision® Wealth much-vi their capital, prfducUoA or * akl iTu* tho to , tal “i°e n ?ruf iVen by " be censusl tliis°gives number of house's the® Si"” AfPfoP'o S the essential criterion, concluded Dr. Neale. MOSGIEL WOOLLEN CO. Press Association rpi DUNEDIN, Today. r„mn, dlrecl ° rs of the Mosgiel Woollen Company recommend a final dividend of 4 per cent, and a bonus of 2 per cent., making 10 per cent, this year. franklin jersey breeders t' rom Our Own Correspondent PUKEKOHE, Mon. rhe annual meeting of the Franklib Jersey Club, was presided over by Mr. E. J. Adams. nr° ffl -S ers e'ected were:—President, Mr. E. J. Adams: vice-presidents, Messrs. W. Robinson and R. J. Johnston; secretary, Mr. D. R. Hamilton; auditor, Mr. H. Bockett; committee Messrs. C. A. Willis, G. N. Selby, J. h! Sherrard, A. J. Harris, A. Best H Peoples, H. W. Le Bailly, W. H. Carter J. Fulton, E. B. Roose, S. F. Fleming and T. Pollock. It was decided to donate £SO to the Franklin Agricultural and Pastoral Society, for Jersey classes, at the summer show. A communication from the Te Awaniutu Jersey Club, suggesting that only bulls from tested dams and sired by bulls from tested dams be offered at club sales was discussed at length, members agreeing that they could not adopt the recommendation.

BANKS— Aust. of Commerce 1 12 ft i 14 ft Com. of Australia.. 1 i ft ling;.. Scot.. & Aus. 17 ft Nat. of N.Z 14 ft « 17 0 Nat. of Australasia is ft ft IS 12 0 Ditto (con.) .... s 12 6 New South Wales . 48 0 ft 4ft ft ft New Zealand ft 1 Ditto (D Mort.) . 1 S 4 1 ft ft Union of Australia . 14 s 6 14 12 0 INSURANCE— A.P.A ft 13 6 National 0 If, 0 r» .New Zealand .. .. ft (* 6 South British .. .. 3 5 0 3 5 9 LOAN AND AGENCY— Abrahams & Williams (pref.) 4 10 0 Dorn. Invest and Bank 1 1 6 Dalgety and Co. . . 14 2 6 15 ft 0 Farmers’ Co-op Auet. — 4 1 0 <Joldsbrousrh. Mort . 4 0 4 ft Newton King- (pref.) 0 12 6 N. Auck. Farmers’ Co-op. (ord.) .. . 0 2 1 Ditto B (pref.) .. 0 11 0 0 13 0 COAL— Hikurangi n 1 ft Ditto (pref. > . . .. 0 4 0 — Ditto (A pref.) .. 0 ft 0 0 Pukemiro 1ft Tlenown ft 16 ft ft 17 Ditto < pref. > . . . . 0 ft Ditto (new issue} . o ft ft Taupivi 1 ft 1 10 6 Diito (pref.) .. . . 1 2 6 AVaipa — 0 14 ft GAS— Auckland l 4 1ft — Ditto (con.) .. .. 0 1S ft — Thames — 3 0 SHIPPING— Devonport Ferry .. 1 1 4 1 2 ft Huddart-Parker 4 0 Northern Steam 0 14 s — Union Steam .. .. 1 0 6 — TIMBER— Bartholomew .. 1 ft ft Kauri Timber .. .. 0 16 3 0 IS 0 Leylana-O’Brien 1 12 0 National 0 8 3 ft ft 0 Parker-Lamb .. — 0 17 9 WOOLLEN— Kaiapoi (pref.) .. .. — 0 16 G BREWERIES— < *. 1. Jnnes .. .. 1 1 ft — r»i»to (pref.) .. .. 1 1 ft — N.Z Breweries 4 ft ft 4 ft .1. Staples 2 13 2 2 13 9 M ? S‘ * K LLA N ISO U S— ' F •"» A-' Steel 13 0 — 1 1 1 llVii' Tciba.aaV ! 1 u !! — „ Bycroft, Ltd — 1 14 6 1

rT>ental and Medical 0 o 0 Dominion Pictures . 1 0 6 Ditto (pref.) .. .. 1 0 Dunlop Perdriau Electrolytic Zinc 1 5 0 — (ord.) 1 13 o Ditto (pref.) .. .. 1 14 6 1 16 0 Farmers’ Trading- . o 0 0 9 6 Ditto (B pref.; 0 15 0 Gear Meat 6 4 9 Grey and Menzies . n 10 « Hayward’s Pictures 0 17 o 0 IS 11.JM. Arcade Theatre (pref.) Holden's Motors 1 1 0 — (B pref.) 1 0 Lewis Eady (ord.).. 1 Ditto (pref.) .... Milne and Cnoyce. — 1 0 0 (deb. stock) .. .. 1 7 0 1 7 Morris, lledstrom . 1 Ditto (pref.) . . . . 0 IS N.Z. Farmers’ Fert. i 1 N.Z. Refrigerating . 0 12 0 Ditto (con.) .. .. 0 5 10 0 Northern Boot . . . . 0 S Robinson Ice Cream 1 Sanford, Ltd. (pref.) 0 19 6 l 1 n S. R. Maxwell Taranaki Oilfields . . n 4 Tonson Garlick 0 10 W hittome-Stevenson M ilsons Cement 2 2 fi 2 0 MINING— Alburn ia „ 0 0 Moanataiari (paid) n 0 0 Ditto <2s l*i 1 pd) 0 0 6 Ditto (1s 6d pd) Kawarau 0 o Lucky Shot (1s pd) •4 0 SJ n Ditto (con.) Ohinemuri (ord.) 0 10 0 Waihi n 12 0 6 Waihi Grand June. o 1 o Mount Lyell . . . . 2 1 0 9 ft Kuala Kampar Tin . DEBENTURES— ft 10 0 -ft 11 0 Auck. Harbour Board. 1932. 41 p.c. 98 10 0 Ditto, 5i per cent. City of Auckland, 99 0 0 — 1940, 51 per cent. 0 0 Ditto, 1963, 51 p.c. ib( l 0 102 10 0 Auck. Hosp. Bd.. 5 101 Borough of Mt. Eden. 5J per cent Timarti Har. 1930, 100 0 0 102 0 0 5 per cent 9S o N.Z. Breweries 1 9 ft Gisborne Sheepfarmers — 100 0 0 GOVERN M ENT BONDS — War Loan, 1938, 4-1 100 0 0 Ditto. 1939. U. pc. 100 Ditto, 1941. 41 p.c. 100 0 Ditto, 1 p. ( Ditto. 1933. .V, p.c. 100 1" Ditto, 1936, 51 p.c. 101 ° — VN'SCRIBED STOCK War Loan. 195 V 1’ Dilto. K-59, •■’. t, 1 00 9 loo 10 9 i'nto. ;>* Ditto, 1933, 51 p.c. 99 10 0 100 0 0