FINANCE & MARKETS

Sun (Auckland), Volume IV, Issue 1057, 22 August 1930, Page 11

FINANCE & MARKETS

Healthy Trading Market on ’Change

By •

“Noon Call,”

A COMPARATIVELY healthy volume of business has been transacted on ’Change over the past 24 hours. Little real change has taken place in the general level of prices.

ei lICTUATIONS price movements, shown by a romoarison of sales recorded over *2, past 24 hours with the price a t the time of the previous recorded sale, include: Nevr Zealand Breweries, fall of 2d. Northern Steam, fall of Id. VVaihi Mining, rise of Id. Business on Auckland Market Transactions recorded on the Auckland market over the past 24 hours include the following: Yesterday afternoon. —New Zealand War Loan, 1938, 4i per cent., £100; Seyr Zealand War Loan, 1933, 5* per ‘nt £99 ss; Commercial Bank of Australia (pref.), £6 7s 6d; Auckland Gas 245; Huddart Parker (pref.), 20s; Northern Steam, 14s fid; Kauri Timber, 13s- New Zealand Breweries, 50s lOd; Hili and Plummer, 21s; Robinson’s Ice Cream, 23s fid; Waihi Mining, 14s 4d (two parcels). At this morning’s 10 o’clock call.— Wairakei, 6s 6d. Market at Midday The Australian position was again reflected in the market at midday, many Australian stocks being unsupported with few not showing some signs of weakness. In the pastoral section Dalgety’s and Goidsbrough Morts were offered at lower prices without drawing buyers. The market for Government stocks and bonds holds very firm, with buyers predominating and sellers hard to locate. Australian Gas Profits Down High manufacturing costs, due to the dispute on the New South Wales coalrields, cut heavily into the profits of the Australian Gas Light Company for the year ended June 30. The amount shown, before the usual allocation to special purposes and depreciation fund is £310,573, compared with £471,182 for the preceding 12 months. A balance of £35,294 brought in from the 1928-29 accounts increased the amount avail-

able to £345,867, but the directors point out that the sum required for dividend of 8 per cent, was £18,227 below the amount of the year’s net earnings. The stoppage on the Maitland coal field made it necessary for the company to withdraw £181,647 from its special purposes fund to meet the extra cost of coal used during the year. The gas manufacturing figures show a net expenditure of £1,066,885, and distribution costs amounting to £468,256. Total outlay provided for in the revenue account was £1,908,617. Gas sales totalled £2,092,987, residuals yielded £229,380, and meter rents £26,896. The charge for gas to private consumers was 5s 9d a thousand cubic feet. Capital expenditure shows an increase on the year from £6,682,608 to £6,982,121. Waihi Gold Mining Co. The following information has been cabled to the London office of the Waihi Gold Mining Co.: In the No. 9 level of the Martha lode in the Grand Junction area driving east, the next 23 feet assays 41s 6d a ton. In the State reef in the Grand Junction area driving east, from 169 to 214 feet, the vein is very flat, showing only bands of quartz, assaying 32s 9d a ton. In the No. 11 level of the Empire lode, driving east, the next 21 feet assays 9s 9d a ton; driving west the next 12 feet assays 25s 3d a ton. Taranaki Oil Call A further call of 6d a share has been made by the directors of Taranaki (N.Z.), Oil Fields, N.L. This makes the shares paid up to 235, with 7s ye-t to be called up. The call is payable on September 10 at the company’s Melbourne office. * * * Dividends Due terim, 7i p.c .. Au~ 25 Bank of New South Wales—quarterly. 22 p.c Aug. 27. Electrolytic Zinc—ord. and Dref. final. 4 d.o. . .. Sept. 4 Standard Insurance—final, Is 3d a share Sep. 9 Holden’s Motors—final, ord., fid a ’share; pref., 8 p.c. P- a Sept. 10.