Restricted Trading

Sun (Auckland), Volume IV, Issue 1035, 28 July 1930, Page 11

Restricted Trading

Market on ’Change By “Noon Call.” THE investment market does not seem able to sliake off the gloom cast over all dealings by increased taxation proposals contained m the Federal and New Zealand Budgets Trading has been reduced to the lowest ebb for many rears. For the most part there does not appear any real reason for the low prices of many of the more popular stocks; the dechne is merely the result of a lack of confidence in the near future by investors.

Msrkets This Morning Xo sales were recorded on ’Change this morning. All sections are quiet and investors, generally, are exercising considerable caution in the placing of buying orders. A feature of the market is the increasing weakness of local body loans, several 52 per cent, issues being offered, unsupported, at par. On the present market it seems that smaller local bodies would experience difficulty in raising new issues even at 6 per cent.’ IVloanataiari Mining Company The manager of the Caledonia Kurajmt Moanataiari Mining Company reports: — During the week we drove Cft south on No. 1 reef. Colours of gold were seen in the ore broken, but no picked stone was obtained. A change ot country came in in the last firing out

and the hanging-wall of the reef is now frosted on to the wall. We drove 3ft ° n *\°\ 1 nort h. the reef is wider than 1 1°. d F lv ® ancl is dipping at an angle ot 1 m 1. The reef looks well but no gold has been seen. * * * Victoria Nyanza Sugar Advice has been received 'by the Auckland Stock Exchange that the directors of Victoria Nyanza Sugar nave declared an interim dividend of Is 6d a share, which is at the usual rate of 15 per cent, per annum. The dividend is payable on August 25. * * * Dividends Due British Tobacco—pref.. quarterly 6* p.c. p.a July 31 Farmers’ Fertiliser Co.—B p.c. Aug. 15 N Z Insurance—final. Is a share Auir 6 Electrolytic Zinc—ord’. and* pref.. final. 4 p.c Sept. 4 ■