A Brighter Tone

Sun (Auckland), Volume III, Issue 839, 6 December 1929, Page 10

A Brighter Tone

Market on ’Change

By

“Noon Call.”

A BRIGHTER outlook is reflected by tlie market for the better-class stocks on ’Change. An increase in the buying strength is noted, -with the general level o£ prices showing an upward tendency.

FLUCTUATIONS Price movements, shown by a comparison of sales made on the Auckland 'Change over the past 24 hours, compared with price at the time of the previous recorded sale, include:—J Commercial Bank of Australia, rise of 3d. Bank of New South Wales, rise of 17s 6d. Auckland Gas, fall of 2d. * « * Business on Auckland Market Transactions on the Auckland market over the past 24 hours have included the following: Yesterday afternoon: Kawarau Mining. 4d: Commercial Hank of Australia, 26s 2d and 26s 3d; Hank of New South Wales, .C 42 ss; Goldsbrough, Mort (rights). ss: Renown Collieries (new issue, pref.), 3s; Auckland Gas, At this morning’s early call: —On 'Changf*: Waihi Mining, 12s Sd (two parcels); British Tobacco, 45s 3d (three parcels). Reported: Tukeiniro Collieries, 73s 6d. Commercial Bank New Issue The head office of the Commercial Hank of Australia advises that it is intended to make a new issue of 500,000 ordinary shares of 10s each at an early date. Particulars are not yet available. This bank has made an annual issue of new shares since 1921. The shares

will no doubt be issued at the usual premium of 10s, and be in the proportion of one new share for every seven now held. * * * Quiet Market at Midday The market at midday was quiet, no sales being made either in the room or reported from the vestibule. In the banking group, Commercials of Australia meet with a steady demand at 26s 3d, but sellers now hold for 26s 7d New South Wales shares sustain yesterday’s advance. The buying strength of the group, generally, shows a considerable improvement on the early part of the week. The loan and agency section remains quiet. Goldsbrough, Morts are depressed, with sellers showing a further decline at 38s 9d. In the miscellaneous group, British Tobaccos were active this morning at 45s 3d, several sales taking place. Farmers' Trading are easier, sellers of the ordinaries dropping to 9s, with buyers down to par. * * * Dividends Payable Due. Bank of N.Z.—lnterim, Is 4d a share Dec. 7 Amalgamated Wireless—B p.c. P-a. Dec. 8 Mount Lyell—final, 2s 9d a share Dec. 13 Kauri Timber—3 p.c. .. About Dec. 13 Loan and Mercantile Agency Co.—final, pref., 2£ p.c. and ord., 5 p.c Dec.