Quiet Trading

Sun (Auckland), Volume III, Issue 827, 22 November 1929, Page 10

Quiet Trading

Market on ’Change

liy ‘‘Soon « AQI 1 fclT toil’' " ii- l• trist’-reil oil 'Change this morning. IVii-os v irf’-guliir, him! little actual l>usine>s wii» recorded.

fluctuations Pr>c« movements. shown by a comparison of sales on the Auckland market over the past 24 hours with the price at the tune of the previous recorded sale, include: New Zealand Refrigerating, fall of 6d. British Tobacco, fall of 9d. Northern Steam, fall of 3d. Business on the Auckland Market Transactions on the Auckland market over tl’.c past 24 hours included: Y I rd iy i ternoon —Bank o JS ■ Zealand. ♦»•»«< *'><}; New Zealand Kerfig- . atinsr. 12s Northern Steam, l la 7d Now Zealand War Loan. t 933. .U per rent.. C 101 2s thl: -Mount Lyell. VJs At tliis mornlns’s early call: British At* ria* nuitld.iy • all.—NV.v Zealand L tot); Ditto, 1»32. 5* per L *>» 17s Auckland Transport Loan Applications are invited for the first Portion of tlv Auckland Transport Gourds loan of .V. per cent. There is little doubt that the board will b ■ sue - . . ssfut with this portion of tin issue, but there are indications that the same success will not support the balance. The market is in too unsettled a stat* bodies at vi p< r rent.: there is always i lie extreme likelihood of the Government cumins: on the local market in the near future with a decidedly more attractive offer than any local body is .making at the moment. Market At Midday The banking group is Cftuiet. but there is a steady demand for all the more popular stocks. Commercials closed (irmly with a middle price of 27s 7d. Goal:* are steady. West ports were sought on the Auckland market this morning at 32s fkl, with sellers at Is iibove that figure. New Zealand Farmers’ Fertilisers meet with a steady inquiry at prices which offer an approximate return on investment of slightly over £ 7 per nt. The scrip is strongly held and sellers are hard to locate. Greater activity is being recorded in

: ran :e uf buyers of the past clay or so ' maintains a steady demand on late levels. Market for Golcisbrough. Morts Tho market for Goldsbrough. Morts of one share for live at a premium of 10s a share. On today's market the approximate return on a 15 per cent, basis is little short of 7* per cent. This ; yield is particularly good, but the ; market has in mind the possibility ! that the customary 15 per cent, divi- | (lend may not be maintained. This view is supported by the fact that last y< ar s disclosed earnings allowed only a small addition to reserves after puy- ! ing 15 per cent. Oil Failurer in America In view of the disappointments experienced by prospectors for oil in . Australia and Now Zealand, it is inI ten-sting; to note in an exchange that h .-s than half the wells, sunk in L’.ts.A. have produced oil. A report issued oy the American Petroleum Institutestates that, during 1928. 22,331 oil well* were drilled in I’.S.A. Of the "'ells completed in that year only i 12.-'*26 produced oil. 7.057 were dry and | 2.727 produced gas. Dividends Payable Due. Wilsons Cement—interim 5 p.c. Nov. 26 Nat. Bank of Australasia—inetrim, ord. and con.. 10 p.c. p.a Nov. 27 L*. yland-O’Brien—final, lOd a share Nov. 27 N.Z. Paper Mills—interim, 31 P Nov. CO United Insurance—interim, 10 P.e*. p.a Nov. Westport Coal—final, 5 tvc. .. Nov. Aust. Glass—interim, 9 p.c. P-a., pref.: 10 p.c. p.a. ord .. l»ee. 1 Henry Jones Co-operative—-final. Is 3d a share Dec. 2 N.Z. Breweries—interim, 7.j P» f * Dec. 2 Bank of N.Z.—interim. Is id a share Dec. 7 Amalgamated Wireless—S p.c. P-a Dec. S Mount Lyell—final, 2s I'd a share Doc. IS Kam i Timber—3 p.c. .. About Dee. 13 Loan and Mercantile Agency Co.—final, pref., 2£ p.c. and ord.. 5 p.c Dec.