Movements on ’Change

Sun (Auckland), Volume IV, Issue 996, 12 June 1930, Page 13

Movements on ’Change

By “Noon Call.” AVERY firm tone is recorded in the market for scrip in all well-managed profit-returning companies. The principal movements o Tr er the past 24 hours have been toward higher prices.

fluctuation* Price movements, shown by a comparison of eales on the Auckland market over the past 24 hours with the price at the time of the previous recorded sale, include:— Goldsbrought Mort, rise of Id. Wilsons Cement, rise of 3d. * * * Business on Auckland Market Transactions on the Auckland marover the past 24 hours have included the following: yesterday afternoon: —City of Auckland 1939. hk per cent., £96: Goldsi trough. Mort, £1 12s 3d; Huddartparker (prof. >, 19s lOd; .New Zealand Breweries, 51s 9d. At this morning s early call:—Farmers * Trading, 8s 9d; Wilsons Cement, 45s 3d. At midday:—Gisborne Sheepfarmers (deb.). Market at Midday Commercial Banks were a little firmer at midday, buyers offering 22s 6d. compared with sales at 22s 3d early lr.'th© week. New Zealands are very, steady, cum. div.. at a shade over 60s. Goldsbrough, Morts were a shade easier, with buyers down at 31s 3d. Newton King preference shares are in steady demand at about 12s. Mount Lyells are .a little easier, sellers dropping to 295, compared with <ales at up to 29s 4d earlier in the week. The market for gilt-edge stocks holds very firm, all classes of Government and local body debentures meeting with a steady demand. Gisborne Sheepfarmers’ Debentures Selling Gisborne Sheepfarmers’ 7£ per cent, debentures (free of income tax), due next year, are selling freely around £B2. These debentures seem to have several attractions around this figure. AVI t ho lit counting redemption, the return at the present price would be somewhere in the vicinity of 9.1 per vent., and there is every possibility that the rate of interest will be raised next year in an attempt to get debenture holders to sign up for another

term. In the event of the debentures being redeemed, which is most unlikely, the return would be in the vicinity of 21 per cent. The debenture holders are well secured, the company owning tKree freezing works, and a big stock and agency business, besides smaller assets. Monteith’s Phoenix Brewery A. net profit of £857 is shown in the annual report and balance sheet of Monteith’s Phoenix Brewery, Ltd., for the year ended March 31 last. The capital of the company is £13,000. The directors recommend a dividend at the rate of 5 per cent. * * * Mine Managers’ Reports Mine managers report as follow: New Waiotalii: The country rock in the fa.ee of the drive toward the Young American reef is of a firmer class of sandstone, and from the survey this lode should be at hand at any time now. 'Water is coming from the face Hume Steel, Ltd. Interim dividend at the rate of 10 per cent, per annum on the A and B preference shares of Hume Steel, Ltd., for the half-year ended March 31, has been declared. "The present prospects of business in Australia,” the report stated last September, "do not warrant the directors recommending paynient of a dividend on the ordinary shares. If the existing conditions improve, however, the matter will be considered in May of next year, when the payment of the usual divided on the preference shares is under consideration.” Dividends Due Devonport Steam—final, 33 p.c. Jun© e i.4 Bank of N.Z.—final and bonus, 1 \ 1 7 3 pc * p a 21 Mount LyeJl—interim, 5 p.c. . June 23 Australian Glass—final, ord., 5 p.c. bonus, 2£ p.c.; pref final, 4J p.c June 25 farmers’ Trading—ord., 10 p.c. _ P- a June 26 Loan ami Mercantile—interim, ord., 2 p.c.; 5 p.c. pref., 2*j p.c.; 6i p.c. pref., 3£ p.c. . June 30 Morris Hedstrom—final, 4 p.c. .. June 30 Reliance Loan Coy.—final; ord., 5 p.c., pref. 4 p.c June