A Weaker Tone

Sun (Auckland), Volume IV, Issue 1046, 9 August 1930, Page 11

A Weaker Tone

MARKET ON ’CHANGE By “Noon Call.” A DECIDEDLY weaker tone was registered in the market on ’Change this morning and several rather substantial falls were recorded.

cl Iir.TUATIONS Price movements, shown by a comparison of tales over the past 24 hours with the price at the time of the previous recorded sale, include: — N.Z. Breweries, rise of 9d. Australian Bank of Commerce, fall of 4d. Commercial Bank of Australia, **Mount Lyell, fall of 1s 3d. Business on the Auckland Market Transactions on the Auckland market over the past 24 hours have included the following: Yesterday afternoon: Australian rank of Commerce, 32s 3d: Commercial Bank of Australia (ox divA, 20s 3d; \ew Zealand Breweries, 51s; Blectrojytic Zinc (pref.). 23s Sd; Mount Lyell 3l Th"f morning: Commercial Bank of Australia, 20s 3d. Mew Zealand Breweries, Dls. Market This Morning The market had a decidedly sick tone this morning, with little strength •flown in any section outside that for Government bonds and stocks. Banks were weak, and any business was transacted on lower levels. foals are neglected at the moment and even shares In the more popular South Island companies are weaker-. U 1 the talk in Parliament brought on largely by a director in Renowns is having,a detrimental effect on the confidence of investors in Waikato coal companies. . , „ Mew Zealand Breweries have a decidedly firmer tone, providing one of Hie few bright phases to an otherwise (lull market: the shares have an advancing tendency. , , Mining is dull, and neglected, with Waihi Junctions one of the few exccp-

lions. Firm buyers are in for these shares at yesterday’s improved price of 2s. Masterton Hoisery Mills The annual report of the Masterton Hosiery and Spinning Mill, Ltd., states that in November last an agreement Mas entered into with Bing, Harris, and Co., Ltd., to Jiandle the factory’s goods, and since that date practically all their sales have been made through that company. The agreement is mutually advantageous, of course, but tho directors unhesitatingly state that they are pleased to have the cooperation of Bing, Harris and Co., Ltd., and that that company is optimistic enough of tho future prospects tc advise the increasing of tho number of their machines. “Tho existing arrangements, although in operation only some eight months, have already had a marked effect on our position, and the annual accounts, in distinction to previous years, show a small profit. All bad and doubtful debts have been written off, and ample allowance made for depreciation of machinery and plant. We look hopefully to tho ensuing year to successfully establish what must be regarded as an important local industry.” Dividends Due Com. Bank Aus.—final, pref. 4 p.c. p.a.; orcl., 15 p.c. p.a. Now. Queensland National Bank—quarterly. 2 p.c., making 9 per cent, for year Aug. 14. Farmers’ Fertiliser Co—B p.c. Aug 15 Dominion Investment and Bank»ne: —annual. 7 p.c.. Aug. 15 Grey Sr Menzies—annual, 8 p.c. Aug. 21. Victoria Nyanza Sugar—interim, 7£ d.o. . Aug. 25. Bank of New South Wales—quarterly, 24 p.c Aug. 27. Electrolytic Zinc—ord. and oref final 4 p.c. .. Sept. 4 Standard Insurance—final, Is 3d a share Sep. 9.