A Quiet Morning

Sun (Auckland), Volume III, Issue 881, 27 January 1930, Page 10

A Quiet Morning

MARKET ON ’CHANGE By “Noon Call.” »|*HE market opened on ’Change this morning with prices 1 showing little movement from those at the close of last week Business continues confined to within a very small compass, and there is still a feeling of uncertainty as to the future.

Business on Auckland Market Only two sales were recorded on the Auckland ’Change this morning; both at the midday call. The sales were: Auckland Gas (con.), 18s sd; Hill and Plummer, 21» 6d. • • • Markst st Midday Sellers w'ere well in the majority at midday, this being particularly noticeable in the banking and insurance groups, where buying support had been practically withdrawn. Commercials of Australia failed to recover the decline of last week, and buyers were only offering 225, a price which allows an approximate return on investment of £ 6 16s 4d per cent. Unions of Australia were offered at £l2, without drawing buyers. No buyers appeared in insurance group. New Zealand Breweries are at last giving under pressure of the general depression and, following an easier market in the South. buyers have 'dropped back to 82s 6d. In the mining group, Moanataiaris liold fairly firm at last week’s improved levels. Reports from the mine indicate that the company has struck n fairly promising reef. It may prove worthless, like so many others, but there is a chance, and that is what is keeping the market firm.

N.Z. Breweries Debentures WELLINGTON, Saturday. Out of £750,000 of 10 per cent, debentures in New Zealand Breweries, holders of which were offered until January 10 the option of converting into fully paid shares at the rate of one share for every two debentures, it is reported that holders of approximately 684,700 debentures have availed themselves of this offer. It is anticipated that the company will exercise its rights and redeem the remainder of the debentures in July, 1933. Shares are to be allotted on April 1 to those debenture holders who have accepted the offer of conversion.—P.A. » * * Dividends Payable Due. British Tobacco, pref., final, 6J p.c. .. .. .. .. .. .. •• •• Jan. 31 Union Bank —interim, 12£ p.c. p.a. Jan. 29 Auckland Gas—final, 4 p.c. ..... Feb. 4 Commercial Bank of Australia — interim, ord., 15 p.c. p.a.; pref., 4 p.c., p.a Feb. 7 N.Z. Insurance—interim, lid a share Feb. 12 Queensland Nat. Bank —quarterly, 2J p.c Feb. 13 Victoria Nyanza Sugar—final for last financial year, 5 p.c., and interim for current year, 2£ p.c Feb. 25 Broken Hill South—quarterly, 2s a share .. Feb. 26 Wellington Gas—final, 4 p.c. . . Feb. Electrolytic Zinc—interim, ord. and pref., 12 p.c. p.a Mar. 6 Call— Moanataiari, 2s 2d paid—2d a share Feb. 6 Occidental —Id a share Feb. 7