FINANCE & MARKETS

Sun (Auckland), Volume IV, Issue 1009, 27 June 1930, Page 13

FINANCE & MARKETS

Limited Trading

Market on ’Change

By

“Noon Call.”

BUSINESS on Change is quiet and buyers, for the most part, are tending to again adopt a general wait and see policy before placing orders with brokers. Comparatively few transactions have been recorded during the past 24 hours.

p..>>uations;._ Price movements, shown by a romP arlson of sa i es , over the past 24 Hours with the price at the time 0 f the previous recorded Auckland ~|e, include: —- Union Bank, rise of 6d. I Business cn the Auckland Market i Transactions on tho Auckland marm over the past 24 hours included: Yesterday afternoon. — Dominion In- : sestment and Banking. 20s. At the morning's early call:—Colonial Sugar. £42 10s. « At midday:—commercial Bank of i Australia. 21s 3d; Union Bank of AusEl jraiia. £H If, d; Electrolytic Zinc ■ f (jref.l, 25 4Jd; Glaxo (deb.), £9O 10s. Market at Midday j Signs were not w anting at midday [ j to show that prices fur sound stocks ■ | jud touched bedrock meantime, and 81 that buyers were giving the market j neater support, the general tendency 31 was for prices lo hold firm or show a slight improvement. In the banking group. Commercials, }- after further business at 21s 3d. were :£ a little firmer, with sellers at 21s 6d; :j buyers of New Zeulands at yesterday's i| soiling price failed to draw sellers belt low oSs 3d: Nationals of Australia meet with a steady demand. In the insurance group Queenslands St improved to see buyers in at 50s. a IS price which allows a return on investment of approximately £5 per : p cent. Waihi mining scrip i.s meeting with i j a very keen demand, partly from London. and sellers withdrew at middav, If leaving buyers in at 13s 9d. Mount l| Lyells are quietly, steady around 26s II - J - I Government and local body debentures meet with a firm market; buy - I ers predominate. Waihi Gold Mining Company

The following information has been tabled to the London office of the

TTTT Company:—ln the No. 9 lev-el of the Martha lode driving east, the next 30ft assays 58s 9d a ton In the No. 2 level of ‘the State reef driving east, the next 41ft assays 47s t>d a ton; at 92ft the full width of the ‘tTt ls^ T ' rt ’ assa s' in S 107* 6d a ton. in the No. lo level of the Martha lode, driving west, the next 28ft is of little or no value. Moanataiari Mining Company 1 ho position of the Caledonia, Kuranui, Moanataiari Consolidated Goldmining Company as a mining proposition has never been better, according to the chairman of directors, Mr. P. L. Watson, at the half-yearly meeting of shareholders held yesterday. Tie *aid that the reef system on which they were now working was something better than they had ever expected. Proposals for the testing of the possibilities of a. block of countrv held by the company for low-grade ore development were outlined in letters from the Thames Low Grade Ore Development Committee, and from the Hon. W . A. Veitch, then Minister of Mines. The Minister stated that a grant of £2OO was available to the committee to enable it to carry out these tests when it received the permission of the company and advice of the terms on which the land would be available for subsequent development. Mr. Watson said permission to make the tests had been given. It was decided to recommend the directors to grant the committee the use of the ground on tribute in accordance with tho Mining Act. Dividends Due Loan and Mercantile—lnterim, Duoord., 2 p.c.; 5 p.c. pref., 2& P.c.; 6i p.c. pref., 3£ p.c. . June 30 Morris Hedstrom—final. 4 p.c. .. June 30 British Tobacco—lnterim, 3 p.c. June 30 N.Z. and River Plate Land Mortgage Co., Ltd.—interim, 4 i P-c* July 1

TO-DAY’S QUOTATIONS

BANK OF ENGLAND RETURN Initcd r.A.—By Telegraph—Copyright LONDON, Thursday. The Bank of England return for the ended June IS is as follows: — Issue Department *otes in circulation £358,531,877 Jn banking department .. 58,350,001 Total £416,851,87S government debt £11,015,100 Jther Government securities 232,893,998 »»ther securities 11,628.881 silver coin 4,462,021 Fiduciary issue 260,000,000 <Jold coin and bullion .. .. 156,881,878 Total £416,881,878 Banking Department Froprietors’ capital 14,553,000 public deposits 21.504.550 JJtner deposits, bankers .. 63,776,222 Jr ther accounts 56,113,767 and other bills . 3,200 ~ Total £139.336,352 government securities .. .. £48,855,547 '-'tner securities, discounts, ~ advances 15,899,161 Securities 15,340,231 UoJ d and silver coin .. .. 891,412 Total £139,336,352 SHORT LOANS AND BILLS • The Bank of England discount rate is ? P?}' vent. The proportion of reserves liabilities is 48.70 per cent. Short are dntded at 23 per cent, (compared 2 per cent, last week), and three youths’ bin at 2 5-16 per cent. (2 15-32 per cent, last week).

WANTED—PUSH

N.Z. WOOLGROWERS AT HOME LONDON. Wednesday. New Zealand woolgrowers at Bradford conferred with representatives of the British Wool Federation on the subject of advertising wool. They were introduced by Mr. B. Tripp, who said that, judging by what he had seen at Bradford, British manufacturers could produce the goods. What was wanted was to push them. Colonel K. W. Andrews said the world was passing through a period of lack of confidence which had depressed the values of all raw materials, yet wool stocks today were not excessive. If anything they were below normal. Sir Frederick Aykroyd, in introduc ing the subject of the character of New Zealand wool, said the methods of crossing had resulted in the production of irregular staples and fibres in the same fleece. The value of fleece was based on the coarsest fibre, so the grower was not receiving a proper return for his fleece. While they used to buy New Zealand wool for single yarn in the trade they now had to go to South America which had imported Lincolns extensively. Dr. S. G. Barker, of the Wool Industry Research Association, said wholesale manufacturers now had a marking fluid to replace tar and paint and had made arrangements to make supplies of it procurable in New Zealand next

Closing quotation* at today* midday Buyers. Sellers. m. <L £ s. CL j BANKS— * Aust. of Commerce I 3 Com. of Australia 1 1 1 Ditto (pref ) . . K 10 0 ling.. Soot.. & Aust 6 0 0 National of N.Z. . 6 Nat. of Australasia 14 17 0 15 0 0 Ditto (con.) . . . 1 0 New South Wales 38 6 39 0 0 New Zealand IS 0 IS Ditto (D Mortjf.) 1 6 0 Union of Australia 11 14 0 12 o 0 INSURANCES— New Zealand . * . -> 6 0 ? 7 o Queensland 2 10 0 12 South British .. . 2 19 0 2 0 LOAN AND AGENCY— Dorn. Invest and Bank 0 19 0 Ditto CB shares) 1 0 0 farmers' Co-od. Auct A (pref.) 0 17 0 Ditto B (pref.) . 0 16 0 Goldsbrough, Nlort, (ex div.) .. . 1 8 1 3 0 0 N.A & River Plate i N.Z. Guar. Corp. . 0 10 0 8 Roan and Mere. 90 0 0 Reliance Loan (pref) 1 0 0 COAL— Grey Valley . . . 1 0 1 R 0 HUkuranp-i o 1 0 0 0 Pukemiro Renown 0 1 4 0 la 0 Ditto (new issue) 0 10 Taupiri R Ditto (pref.) .. . i o estport i 10 6 — GAS— Auckland 0 Ditto (con.) .. . 0 IS 0 0 IS 9 SHIPPING— •> 0 Hud da r t- Parke r Northern Steam . 0 0 Ditto (con.) .. . 3 0 9 P. and o. (def. 2 s 0 Union Steam (pref.) 1 0 3 timber— Kauri Timher National . — 0 9 0 Barker-La tub .. . 0 11 0 0 16 0 breweries— n Ditto (pref.) .. . 1 1 0 —

cal) were* Buyer*. Sellerr*. £ s. d. £ a. d N.Z. Breweries *> 10 6 12 J. Staples — 2 S 6 MISCELLANEOUS— Booth. Macdonald ( pref. > 0 4 0 British Tobacco 1 IS Burns, Philp .. .. 1 17 Bycroft, Ltd 1 13 0 Colonial Sugar . . . . 42 0 0 43 0 0 < on. Brick and Pipe Dominion Pictures . 1 1 6 Ditto (pref.) .. .. 1 1 6 Electro. Zinc (ord.) 1 4 Ditto (pref.) . . . . 1 0 9 Farmers’ Trading . . 0 S 1 0 Fullers' Pictures .. 0 3 4 0 Hayward’s Pictures 0 14 0 (pref.) 1 0 0 Kempthorne Prosser 3 Milne and Choyce (deb. stock) . . . . National Pictures . 0 13 N.Z. Farmers’ Fert. 1 0 Robinson Ice Cream 1 4 0 Sanford, Ltd 0 17 0 Ditto (pref.) . . . . 1 0 Taranaki Oilfields . . 0 0 n Thames Theatre Co. 0 10 0 0 Union Oil Whittome Stevensons i 19 0 Wilsons Cement .. — 2 5 u MINING— Alburnia 0 0 4 Moanataiari (pd.) . . — 0 1 3 Lucky Shot (4s pd) 0 1 0 Waihi 0 13 Waihi Grand June. 0 1 0 1 Mount Lyell 1 6 0 1 6 2 DEBENTURES— Auck. Gas, 1935, 61 too 0 0 Auck. Harbour Board, 51 per cent 96 0 0 98 0 Ditto. 55 p.c. . . . 100 0 0 Bor. Devonport, 41, 1937 93 10 0 Booth, Macdonald . 70 0 0 Gisborne Sheepfarmers SO 0 0 N.Z. Breweries 1 1 f. Glaxo 90 0 0 91 10 0 GOVERNMENT LOANS— War Loan, 1930, 4 5 99 5 0 Ditto, 1038, 4J p.c. 99 0 0 — Ditto, 1939, 45 p.c. 99 0 0 Ditto, 1941, 4i p.c. 98 15 0 100 0 0 Ditto, 1933, 55 p.c. 99 0 99 10 0 Ditto. 1936. 55 p.c. 99 0 0 — INSCRIBED STOCK War Loan. 1938, 41 9S 15 0 Ditto, 1939, 45 p.c. 9S 15 0 — Ditto, 1927-41, 5.1 9S 12 6 Ditto, 1933, 55 p.c. 99 0 0 Ditto, 1936, 51 p.c. 99 0 0 —