An Active Market

Sun (Auckland), Volume III, Issue 892, 8 February 1930, Page 11

An Active Market

IMPROVED TONE ON ’CHANGE By “Noon Call.” COMPARATIVELY heavy trading has been recorded on ’Change over the past 24 hours; prices show a general upward tendency, and several rises have taken place in the market for sound stocks.

Fluctuations Prfce movements, shown by :v comparison of sales over the past 114 hours with the price at the time of the previous recorded sale, Include: South Eiritish Insurance, rise of 1s 6d. Dalgety and Company, rise of 2s 6d. New Zealand Insurance, rise of 4Jd. ‘Sank of New Zealand, rise of Is. Business on Auckland Market Transactions on the Auckland market over the past 24 hours included: Yesterday afternoon: —New Zealand Inscribed Stock, 1933. 5i per cent., £9S- Bank of Australasia, £ll 10s; National Bank of New Zealand. £0 4s New Zealand Insurance, 425; Daleety and Company, £l2 as; Pukeiniro Collieries, 725: Waipa Coal, 14s; Auckland Gas, 23s Sd; ditto (con.), 17s 6d; British Tobacco, 435; New Zealand Farmers’ Fertiliser, 21s 6d. Business this morning: —Bank of New Zealand, 575; South British Insurance, 60s; British Tobacco, 435. . * * National Mortgage New Issue T! e directors of the National Mortuakf and Agency Company appear to have misjudged the market slightly when they placed a premium of 15s on :he new issue of 20s paid shares. Rigl ts are being offered at the nominal tigure of 2d, without attracting interest from buyers. In spite of the fact that the new issue will be fully paid the £2 103 paid £lO shares seem to b) regarded as better buying; even these shares are not attracting any interest on the present depressed market, however. This Morning’s Market A bright tone was registered in the market for all sound stocks this morn-

ing. There was an all-round advance in prices. In many instances buyers moved up to yesterday’s selling quotations only to find sellers either withdrawn or having higher ideas of values. , One of the significant movements of the coal group over the past day or so has been the increased inquiry for Waipas; this scrip is now meeting with a steady demand at 14s. Mining is idle and neglected. Northern Boot Amalgamation Modern Shoes Finality has now been reached in respect to the negotiations by the Northern Boot and Shoe Manufacturing and other kindred companies to effect/ an amalgamation of interests. An official announcement states that Northern Boot, Modern Shoe, Ltd., and Shoecraft, Ltd., are to amalgamate and form a new company under the name of Modern Shoes, Ltd. The new concern will be under the management of Mr. S. E. Marler, and will be organised on the most modern methods with the latest and most up-to-date equipment. No details are given regarding the terms of the amalgamation. * * * Dividends Payable Due. 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, p.c Feb. 25 Broken Hill South —quarterly, 2s a share Feb. 26 Wellington Gj-.s—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—ld a share Feb. 7