Steady Demand for Banks

Sun (Auckland), Volume III, Issue 816, 9 November 1929, Page 10

Steady Demand for Banks

Market On ’Change

By

“Noon Call.”

FB market on ’Change this morning closed for the week showing a quiet tone in most sections. The actual volume of recorded business was not heavy.

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:— Mount Lyell, rise of 1s 6d. f Goldsbrough Mort, fall of 6d. Waihi Mining, fall of Id. New Zealand Breweries (deb.), rise of Id.

Business on the Auckland Market Transactions on the Auckland market over the past 24 hours included: Yesterday afternoon.—Waihi Mining, 3 2s 4£d; Mount Lyell, 42s 6d; South British. Insurance, 65s 4d: Goldsbrough Mort, 43s 6d; Grey Valley Collieries, ”6s 9d; Taupiri Coal, 30s; LeylandO’Brien, 31s 6d; Electrolytic Zinc, 34s 3id and 345; ditto (pref.), 355; Thames Gas, 7s; New Zealand Breweries Cdeb.), 2Ss 4d. This morning.—Reported: Bank of New Zealand, 61s 3d; Sanford (pref.), 2ts 3d; Robinson Ice Cream (new ishue), 245. Miscellaneous Section Quiet The miscellaneous section, generally, i* quiet. Sanford preference shares saw their first recorded sale this morning for many months; at this morning’s market price the return is approximately £6 3 6s 6d per cent. The t\©w issue of Robinson Ice Cream was dealt with at a premium of 4s. ♦ * * Market Movements The banking group this morning was quietly steady with most shares meeting a sustained demand at recent quotations. New Zealand’s continue

to register a steady turnover at 61s 3d; for the most part only small parcels are changing hands; at this price the return on investment is approximately £4 13s 7d per cent. The fact that this concern offers the lowest immediate return on investment in the group at the moment is compensated tor by the fact that its reserves are comparatively high and the market in some quarters expects either higher dividends or a distribution of surplus profits at some future date. Insurances are very quiet. Breweries were practically neglected this morning, even New Zealand’s failing to attract quotations. Dividends Payable Due. Anthony Hordern—interim (half-yearly), pref., 7£ 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 Soutli—ls 6d a share Nov. 15 Burns-Philp—interim (halfyearly), 10 p.c. p.a Nov. 15 Taupiri Coal—interim. Is a share, ords Nov. 16 Wilsons Cement, interim of Is a share Nov. 26 Nat. Bank of Australasia— Ord. and con., interim 10 p.c. p.a Nov. 27 N.Z. Paper Mills—interim, p.c Nov. 29 Sharland and Co.—Pref. and ord. (final), 41 p.c Nov. Aust. Glass—interim, at rate of 9 p.c. p.a. on prefs., and 10 p.c. on ords Dec. 1 N.Z. Loan and Mercantile, 8 p.c. on ords Mt. Lyell, final of Is 3d and bonus of Is 6d a share .. Dec. 18