Increased Business

Sun (Auckland), Volume IV, Issue 1052, 16 August 1930, Page 11

Increased Business

Market on ’Change

By

“Noon Call.”

A BIG increase in turnover has been recorded on ’Change during the past 24 hours. Prices, for the most part, remain firm at late rates.

i ir.TUATIONS Prica movements, shown by a comparison of sales over the past 24 hours with the price at the time of the previous recorded sale, include: South British Insurance, fall of 6d Trading, rise of 2d. Business on the Auckland Market Transactions on the Auckland marlet over the past 24 hours have included the following: vUterday afternoon: Comemrcial Bank of Australia, 20s 4d; Bank of South Wales (Melbourne regis•N;’7 7s lid: Union Bank, £lO 13s South British Insurance, 56s 6d; inVHand Gas, 245: Timaru Brewery twJ paid). 13s lid; Union Oil, 31s; morning: Union Oil. 3ls; Bank of New Zealand, 55s lid; Union Bank, £lO 13 55 6d' Commercial Bank of AustraHa, 30s 4d; Farmers* Trading-, Bs. Market This Morning For a Saturday morning there was rather a heavy turnover on 'Change todav. Buyers were in for most of the more popular stocks, particularly in the banking section. The loan and financial section continues more or less neglected, with buying quotations mostly well below sellers’ ideas of value. In the mining group, vv ailns and Waihi Junctions are in demand on a firm market. # m Waikato Coals Weak The market for shares in Waikato coal companies is, if anything, even weake’r. The controversy at present soing on between the various companies does not tend to attract favourable interest in the scrip. In many quarters the fear is that lower profits can bo looked for in the near future. Up till a month ago it was hoped that Renown preference holders would receive a dividend, if not the ordinary nhareholders as well, but recent developments make this doubtful. * * * Commercial Banks Active Commercial Bank shares continue active on New Zealand Stock Exchanges, so much so that it would be interesting to see the share register. A very big percentage of this bank’s shareholders must now be resident in New Zealand. At 20s 4d, the price at which several hundred shares have changed hands during the past 24 hours, the approximate return is £7 7s 6d per £IOO invested. • * * Increases in Capital Increases, in the capital of Auckland companies have been registered, as follow:—* Blain and Company, Limited. Capi-

tnl increased from GOO £1 shares to 1,250 £1 shares. Thoroughfare Advertising Company (N.Z.), Limited. Capital of company increased to £3.000 by creation of 1,000 shares of £1 each, and resolution. January 23, 1930, capital increased from £3,000 to £5,000 by creation of 2,000 shares of £1 each. Okarito Dredging Company A return of 60oz sdwt is reported from the Okarito Five-mile Beach Gold Dredging Company, Limited, Westland, for three weeks’ hydraulic elevating, of which 530 z sdwt were obtained from the boxes and 7oz from the tables. The ground just treated comprises a block to the south of the previous paddock, some of which had been worked about 40 years ago by a miniature suction dredge, which failed to make satisfactory progress. Payable prospects continue lagoonward beyond the limits anticipated, and additional ground will now be taken out in this direction for the dual purpose of ascertaining the payable limit and for the convenient launching of the dredge pontoons, the construction of which is now well under way. As soon as this work is completed the elevating plant will be shifted to the shallow and richer ground at No. 25 bore, some 25 chains northward, where the main pipeline already passes. Hydraulic elevating will then continue in this locality until the dredge is completely equipped and ready to commence dredging. It should be noted that the capacity of the hydraulic elevator does not exceed one-fifth that of the dredge now under construction. * * * Company Registrations Three private companies were registered in Auckland yesterday. Details are:—Bedford Park, Limited. Objects: To purchase and develop estates and properties. Capital, £3,000, in £1 shares. Subscribers: Myrtle Scott and Bruce Scott, 1,000 shares each: Walter George Bedford, 700 shares; Edna Lyla Bedford, 300 shares. L. S. Marfell, Limited, chemists and druggists. Capital, £1,300, in £1 shares. Subscribers: Leslie Seymour Marfell, 1,290 shares; Frederick John Marfell, 3 0 shares. Mitchell, Buttle and Company, Limited, land and financial agents and sharebrokers. Capital, £SOO in £1 shares. Subscribers: James Thomson Ferguson Mitchell and Keith Nicholson Buttle, 250 shares each.

Dividends Due Grey & Menzies—annual, 8 p.c. Aug. 21. Victoria Nyanza Sugar—lnterim. 7J p.c. Aug. 25. Bank of New South Wales—quarterly, 2i p.c Aug. 27. Electrolytic Zinc—-ord. and oref final 4 p.c. . . Sept. 4. Standard Insurance—final. Is 3d a share Sep. 9.