Market on ’Change

Sun (Auckland), Volume III, Issue 900, 18 February 1930, Page 10

Market on ’Change

LESS MONEY FOR INVESTMENT

By

“Noon Call

THE market on ’Change continues quiet, with buyers again tending to adopt a “wait-and-see” policy in respect to the near future of the market. The reduced prices for primary produce are also being reflected on the market, forcing sales on the one hand, and bringing about a reduction in the amount of money available for investment on the other.

Fluctuations Price movements on the Auckland Market shown by a comparison of sales over the past 24 hours with the price at the time of the previous recorded sale, include: Auckland Gas, fall of Id. Ohinemuri Mining, fall of Id. N.Z. Breweries, fall of 3d. • * * Business on the Auckland Market Transactions on the Auckland market over the past 24 hours included the following: Yesterday afternoon: —Ohinemuri ‘Mining, 2s 4d: Auckland Gas. 23s 6d. Business this morning::—Auckland Gas, 23s 6d; Ohinemuri Mining, 2s 4d; farmers’ Trading (B pref), 12s 3d. At midday: Commercial Bank of Australia, 2s 3d (two parcels); Mew Zealand Breweries, 83s 9d; Auckland Gas, 23s 6d; Ohinemuri Mining, 2s 3d. ♦ * * {Standard Insurance Dividend A Press Association message from T)unedin states that the directors of the Standard Insurance Company have declared a dividend of Is 3d a share for the half-year. * * * JMine Managers’ Reports Mine managers report as follow: Tui.—“During the week the drive on Mo. 3 reef was advanced 6ft, a total from the crosscut of 79ft. The reef is carrying a fair amount of iron pyrites but no gold has been seen.” Moanataiari.—“During the week the f-haft was sunk a further 6ft, a total »->f 84ft. The reef formation is still showing in the southern end of the ehaft; good dabs of gold were seen in this portion of the formation. We bored into quartz on the northern end of the shaft, but as it is not yet mucked out we cannot yet determine the strike or size of the quartz; but what little quartz that was blown out is heavily mineralised.”

Dunlop Perdriau Market The market for Dunlop Perdriau scrip continues depressed with sellers unsupported. Commenting on the market for th€*.se shares Messrs. J. B. Were and Soil, Melbourne, in their latest review, state that up to 19,000 shares changed hands during the week ended February 7. The interim dividend announcement of this company is due any day now; general expectation on ’Change, according to Messrs. Were and Son, is that it will be 8 per cent, instead of 10 per cent, as last year. Market at Midday Commercial Banks are firm with steady buyers at 235, and rights in the new issue active at 2s 3d. The market for New South Wales shares is steady at yesterday’s slightly easier rates. Little movement is shown in the insurance group, buyers exercising considerable caution in placing bids. The loan and agency group is quiet, with sellers predominating. In the miscellaneous group Milne and Choyce debentures are firm on a market which allows a return on investment of approximately £5 18s 6d per cent.; at this price, in spite of the fact that the company is very sound and well-managed, the scrip seems rather highly-priced. The mining section continues neglected. * * * Dividends Payable Victoria Nyanza Sugar—final for DU °* last financial year, 5 p.c., and Interim for current year, 2i p c Feb. 25 Broken Hill South—quarterly, 2s a share Feb. 26 Bank of New South Wales, ouarterly, 25 per cent Feb. 27 Carlton Brewery, mt. 7 per cent. Mar. 1 Electrolytic Zinc—interim, ord. „ nd , *£ ef - 12 DC - p a Mar. 6 Huddart Parker, intermim, 3 per cent, on prefs. and 5 per cent. on ords Mar 15 C. L. Innes, interim, 4 per cent. Marl 31