Increased Activity

Sun (Auckland), Volume IV, Issue 932, 27 March 1930, Page 10

Increased Activity

Market on ’Change By “Noon Call.” HEALTHY trading has been recorded on 'Change over the past 24 hours. There is a brighter tone in tl/e market for sound stocks and prices for Australian seeurit’oes, especially, show an upward tendency.

FLUCTUATIONS Price movements, shown by a comparison of sales on the Auckland market over the past 24 hours, with the price at the time of the previous recorded sale .include:— Electrolytic Zinc, fall of 7id. Business on the Auckland Market Transactions on the Auckland market c>ver the past 24 hours included the | following:— Yesterday afternoon. National Bank of New Zealand, £6; Farmers’ Trading (A pref.), 16s 3d; Grey Valley, 275; Renown Coal (new issue), 275; Mount Lyell. 345. At this morning’s early call. —Electrolytic Zinc, 275; Gear Meat, 38s. At midday: Farmers’ Trading (A pref.), 16s 3d; Moanataiari Mining, Is lOd. Market at Midday Tho midday market was quiet, allowing little movement. Farmers’ Trading (A pref.) shares «re quietly active at 16s 3d, a price •which allows a return of £7 6s 5d per cent. Coals are quiet, with sellers predominating. In the mining section slightly more interest is being taken in tin shares, but little actual business is recorded. Howard Smith Profits The P. and L. account of Howard Smith, .Ltd., for the year ended December 31 shows that interim dividends at xhe rate of 6 per cent, on preference and T* per cent, on ordinary shares are to be supplemented by a final distribution at the rate of 6 per cent, on prefs. Capital is £2,250,000. creditors are owed £861,655, and assets comprise

freehold £137.455, leasehold £13,868, plant £45.541, sbrares £2,1)30,847. stock £24,955, debtors £249,229, bills £9,110 and cash £4,670. The poor results are due principally to the closing down of the associated mines on the northern coalfields. During tho year further substantial interests were acquired in Australian Iron and Steel and Soi/thern Portland Cement, which are developing satisfactorily. Australian Glass Prospects The market for Australian Glass is quietly firm following increased inquiry for the company’s scrip in Australia. Despite the fact that the company’s earnings are affected by quietnes§ of trade, particularly in breweries, it is not expected that any difficulty will be experienced in maintaining the current rate of dividend. It is understood that inner reserves are substantial, but the time is hardly propitious for disclosure, and capitalisation, notwithstanding that the recently formed subsidiary was financed without calling, upon shareholders for additional capital. Dividends Payable Dunlop Perdriau—intofrim, cum. pref., 5 p.c., ord. 3 vwc Mar. 2S Fukemiro Collieries, fntermim, Cs a share Mar. SI British Tobacco —interim, 3 p.c. Mar. 31 Hume Pipe Co. (Aus.)—interim, 4 p.c. .. .. .. , Mar. 31 C. L. Innes—lnterim, pref., 4 p.c. Mar. 31 N.Z. Guaranteed. Stock—interim, and 4d on 8s pd., lOd on fully pd., 7 p.c. cyh pref Mar. 31 Timaru Brewers—lo p.c April Bank of Australasia—final, 7 p.c. Apl. 4 Howard Smith, Ltd.—interim, cum. pref.* 6 p.c., p.a Apl. 6 Kempthorner-,Prosser Drug Co.— final, 5} pjc Apl. 8 Milne and •Choyee. Ltd.—interim, ord.. prqfc. and deb. stk.. 8 p.c. p.a. .. Apl. 10 New Zealafnd Breweries—interim 7 -i P C Apl. 14