Toward Higher Levels

Sun (Auckland), Volume IV, Issue 945, 11 April 1930, Page 11

Toward Higher Levels

Market on ’Change

By

“Noon Call.”

AX almost general improvement lias been noted in the market on 'Change over the past 24 hours. There is a steady demand for all sound investment stocks.

r, nrTUATIONS price movements, shown by a comparison of sales oyer the past 24 hours with the price at the time ot the previous recorded sale, include: New Zealand Breweries, rise of Bank of Australia,’ rise of t Auckland Gas, rise of Id. Electrolytic Zinc (pref.), rise of 3d Mount Lyell. rise of 6d. South British Insurance, rise of 6d. Business on the Auckland Market Transactions on the Auckland maria t over the past 2 4 hours included: * Yesterday afternoon. Commercial Bank of Australia, 22s l*d (two par,els); English. Scottish and Australian B«<nk, £6 17s 6d; Bank of New Zealmd,’ 595: South British Insurance, Jo s . ’ Auckland (las, 23s 7d; Northern Steam, 14s; New Zealand Breweries, 51s 6d. \t this morning's early call.—Electrolytic Zinc (pref.), 27s 9d: Auckland Gas. 23s 7d; Union Bank. £l2; South British Insurance, 625; Mount Lyell Mining, 24s 9d. Market at Midday A decidedly firmer tone was noted In the banking and insurance groups at midday. Loan and Agency scrip is weak, with gellers predominating. Xcw Zealand Breweries are very firm, buyers moving up to 525, a price which allows an approximate return, at the old dividend rate, of £5 15s 4d per cent.; whether the 15 per cent.

dividend payment will be continued, however, is subject to question. Farmers* Fertilisers are a little easier with sellers at 19s 6d, a price which allows a return, based on the latest dividend, of approximately £ 8 4s Id per cent. Kaikorai and Dunedin Trams The annual report of the Dunedin and Kaikorai Tram Company, which conducts the Stuart Street cable car service, states that the traffic receipts for the year totalled £11,904, a decrease of £2Ol. The cars ran 34,164 trips, covering in all 79,119 miles, carrying 603,538 down passengers and 790,726 up passengers. A further sum of £I,OOO had since the balance date been invested in the Government 5£ per cent. loan. One of the heavy costs of the year was the necessary repairs in connection with the breaking of the shaft. The directors declared an interim dividend at the rate of 10 per cent, per annum for the half-year ended July 31, 1929, and recommended a further dividend at the rate of 10 per cent, for the half-year ended January 31, 1930. They also recommended that the sum of £SOO be transferred from the appropriation account to the reserve account, which would then reach £11,500. Dividends Due Kenipthorne-Prosser Drug Co. — final, 5i p.e Now. Milne and Choyle, Ltd.—interim, ord., pref. and deb. stk., S P-e. P-a Now. N.Z. Breweries—interim, 71 p.c. Apl. 14 Waipa Collieries, annual, 5 p.e. May 1 English, Scottish and Australian

Bank, half-yearly interim . . May 1 CallReliance Loan Co., 2s Gd per pref. share, ou or before .. July 2