INCREASED TRADING

Sun (Auckland), Volume IV, Issue 937, 2 April 1930, Page 11

INCREASED TRADING

MARKET ON ’CHANGE

DEMAND FOR SOUND STOCKS By “Noon Call’' A decidedly brighter tone has been recorded on ’Change over the past few days, and there are undoubted indications that there has been an increase in business done on account of clients desirous of laying the foundation of a sound investment income. It would not be correct to claim that the market is rapidly throwing off all sings of depression, and that better times and easier money conditions are to appear as if by a wave of a wand; such is not the case, but it does seem that a certain section of the investment public is at last realising that everything is not as bad as the more pessimistic would have it, and that, although overseas markets are not favourable to New Zealand producers, and the national income will show a big reduction this year, there are many opportunities for very promising investments at the moment. Even over the past week there have been further signs overseas that the trend toward cheaper money in the chief centres of the world is having a favourable effect on industry. Even the most pessimistic have to agree that the position has not got out of hand as in previous slumps. Butter certainly dropped to under 130 s, but already a stronger inquiry is recorded and it seems most unlikely that the consuming public at Home will allow the market to go much lower. The position in respect to wool is much the same as that in regard to butter. At recent sales Bradford representatives have been operating freely on the lower levels, indicating to a large degree a trend toward a revival in the woollen trade. On the New Zealand Stock Exchange at the moment there is a strong inquiry for Government securities on a market very firm around the cver-the-counter Treasury rate: business in this class of security follows every shading of the selling price. Other securities are also coming more and more into the picture and banks, insurances and all sound industrials have been receiving more attention on a market, if anything, showing a rising tendency. A feature in investment circles over the past few weeks has been the increasing attention given to shares m sound tin-dredging concerns. Grouped in the same category as coal shares, this class of scrip has decided attractions, especially as many can be picked up at under par, even those which have proved very satisfactory dividendearners to holders in times when London spot prices for tin have been on higher levels. There is every indication at the moment that tin prices on the London market will improve and, when they do, there is an almost certain profit to be taken out of all shares in soundly-managed tin mining companies purchased at today’s prices. Return on Investment Below is a summary of business transacted on New Zealand Exchanges over the week ended April 1, giving the approximate return on investment based on the latest dividend:

Sale Price. Return on Investin't. £ s. d. £ d. BANKS— A list, of Commerce 1 5 4 r> 10 6 Adelaide 7 4 0 6 8 10 Australasia 1 2 2 6 15 4 Com. of Sydney .. 21 7 6 5 16 11 Eng-., Scot. & Aust. 6 11 0 b 34 (i Nat. of Aust. 14 19 0 6 13 9 Ditto (con.) . . . . 7 7 6 6 1 5 7 New South Wales . 39 0 0 5 7 New Zealand .. .. 17 3 0 Union of Aust. 12 0 0 5 4 2 INSURANCE— National 0 14 3 5 3 New Zealand . . 3 9 it 3 10 LOAN AND AGENCY— Dalgety and Co. . . 11 3 6 7 12 1 Goldsbrough, Mort . 1 12 3 9 6 0 Newton King (pref.) N.Z. Guar. Corp. 0 0 11 7 8 3 8 1 7 COAL— Grey Valley 1 7 0 5 18 6 Pukemiro 3 9 6 10 1 Renown Ditto (pref.) .. .. Ditto (new issue) Taupiri 0 0 0 1 15 0 3 1 2 10 6 0 7 13 10 Westport 1 11 1 6 8 8 GA^ — Auckland 1 3 8 6 15 Ditto (con.) .. .. 0 17 0 7 1 2 SHIPPING— Devonport Steam . . 1 2 10 G 11 Huddart-Parker (pref.) 1 0 0 Union Steam (pref.) 1 0 45 5 8 0 TIMBER— National 0 8 7 9 6 WOOLLEN— Kaiapoi (con.) 0 3 5 8 10 BREWERIES— N.Z. Breweries 9 11 6 Carlton 1 18 9 7 4 6 MISCELLANEOUS— Booth, Macdonald (pref.) 0 3 5 British Tobacco 2 Colonial Sugar 43 12 6 Dunlop Perdriau . . 0 Electrolytic Zinc (ord.) 1 7 0 Ditto (pref.) .. .. 1 8 4 9 Farmers’ Trading (A pref.) 0 16 3 Gear Meat 1 IS 0 N.Z. Drug . . . . 3 Milne & Choyce (deb. stock) .. .. 1 7 45 Mount Lyell 1 15 0 National Electric 0 10 6 Sharland and Co. (pref.) 1 0 8 6 15 6 DEVENTURES— Auck. Har. Bd., 4 90 0 0 Bay of Plenty P.B., 1963, 52 p.c 99 0 0 5 16 4 GOVERNMENT BONDS War Loan, 193S, 4* 97 10 0 7 INSCRIBED STOCKWar Loan. 193S, 4 5 97 10 0 Ditto, 1939, 4i p.c. 97 10 0 4 17 0