A Better Tone

Sun (Auckland), Volume III, Issue 838, 5 December 1929, Page 10

A Better Tone

Market on ’Change

By “

"Noon Ca 11.."

A SLIGHT improvement in the volume of business lias been reeordeil on ’Change over the past 24 hours. The general level of prices shows little change, but there is a better tone in the market for most sound stocks.

T I uctuations Price movements, shown by a comparison of sales over the past 2v hours, with the price at the time of the previous recorded sale, include: Mt. Lyetl, rise of 6d. Electrolytic Zinc (pref.), fall Id. Dalgety and Co., fall of ss. Waihi Mining, rise of Id. Business on the Auckland Market Transactions on tlio Auckland market over the past -4 hours have included the following: Yesterday afternoon.—Mt. Lyell. 40s 9»l; Tuupiri Coal, 295; Dalgety and Co., £l3: Farmers* Co-op. Auctioneering, £3 !.8s; Klectrolytic Zinc. 33s 4id; do. (pref.). 33s 9d. At today’s midday call.—On ’Change: New Zealand Farmers’ Fertiliser. 22s nd rtwo parcels); Waihi Mining, 13s ''•l Hour parcels). Reported: Commer- » i;il Bank of Australia, 265; New Zealand and River Plate. 31s 3d. Market at Midday A better tone is noted in the mining group, and there are signs of a return of buying strength to more normal proportions. Commercials of Australia ar»> meeting with a steady demand at 265. a price which shows a return, •>n the 13 per cent, dividend basis, of approximately £3 13s 3d per cent. •Vcw Zealands show little movement, holding a steady market around 60s. In the loan and agency group Dafgetys are again easier, sales takingplace at £l3. a price which allows a 'iVturn based on the latest dividend rate of# £6 10s 9cl per cent. Goldsbmugh, Morts. are also easier, with sellers at 39s 6d unsupported.

A slightly better tone is recorded in tho shipping group, buyers supporting sellers in every instance. Tho feature of the timber group is tho continued falling tendency of the market for Kauris. Sellers at 16s Od this morning were unsupported. The last recorded business in this scrip on the New Zealand market was during the first week in November when sales were made at lCs 9d. Waihi Mining shares continue to meet with a very firm demand, and a further slight advance has taken place over the past 24 hours. Mine Managers’ Reports Aline managers report as follow: Tui Goldmining Company.—Development work at the mine has been hampered by wet weather, but sinking is being continued on the No. 1 lode, where the reef is now IS inches wide an«l Is heavily mineralised. Hauraki. —Development work at the mine is proceeding satisfactorily. Stoping on the Stockwood reef above the 400 ft level has been in progress as usual; the reef maintains its average width of 12 inches. The country rock continues of the same nature as where tho gold was obtained; a few strong blotches of gold were seen in the quartz taken down. Rising is in progress for another stope. Dividends Payable Due. Bank of N.Z.—lnterim, Is 4d a share Dec. ? Amalgamated Wireless—S p.c. p.a. Dec. 8 Mount Lyell—final. 2a 9d a share Dec. 18 Kauri Timber—3 p.c. .. About Dec. 13 Loan and Mercantile Agency Co.—final, pref., 2i p.c. and ord.. 5 p.c Dec.