Market Still Sagging

Sun (Auckland), Volume IV, Issue 1080, 18 September 1930, Page 11

Market Still Sagging

Position on ’Change

By

"Noon Call"

ANOTHER very <iuiet period has beeu experienced on ’Change. Further price falls have been recorded.

pi.,filiations—price movements, shown by a comparison of sales over the past 24 hours with the price at the time of the previous recorded sale, include: — Commercial Bank of Australia, fall of 3d. Bank of New Zealand, fall of 3d. New Zealand Breweries, fall of Sugar, fall of 15s. Business on Auckland Market Transactions on the Auckland market over the past 24 hours have inoludea: ■ Yesterday afternoon: —Bank of New Zealand. 55s 6d: New Zealand Brewer*eAt*this morning’s early call:—Commercial Bank of Australia, ISs; Bank of New Zealand, 55s 6d; Waihi Mining - , lit; lid. At midday:—Colonial Sugar. £3O ’Os- New Zealand War Loan, 1936, per cent.. £99 7s 6d. A Weak Market A preponderance of selling orders has apparently pushed the market to even lower levels, and substantial rail* have been recorded in the mar - lcet for sound stocks over the past j 4 hours. Even the gilt-edge market appears to have been affected, for there was not the same wide inquiry in this section this morning. # In the miscellaneous section buyers for many of the best stocks are hard to locate even on levels. Undoubtedly the nearness of the half-yearly bank balance date is having some affect on the buying strength, buyers preferring to hold' oft until after the 30Ur. S. R. Maxwell and Co., Ltd. Net profits amounting to £2,714 are shown in the 22nd annual report and balance sheet of S. R. Maxwell and

Company, Ltd., for the year ended May 31. The sum of £4,297 was brought forward from last year, making a total of £7,011 available for distribution. 'Hie directors propose to pay a dividend at the rate of 7t per cent, and leave £4,761 to carry forward. * * * Mahakipawa Goldfields, Ltd. During the past week Mr. K. M. Barrance, manager of Alexander Mine, Reefton, and Mr. Hi. J. Scoble, inspector of Mines, made a thorough inspection of the underground workings of the mine. It is anticipated that Mr. Barrance’s.->report will be in the hands of the directors within the next three weeks, when an extraordinary general meeting of shareholders will be called to consider it. Mr. Barrance has in the meantime authorised the directors to state that samples were taken from various parts of the workings, and at one likely place a bulk sample was taken which washed out at well over an ounce to the truck (2* trucks equal a yard of wash). He was unable to state the extent of this payable wash. The location of it was near the end of the present workings toward Nos. 8 find 4 bores. A number of other samples was taken from various parts of the mine, with varying results. The inspection has definitely established that the wash round No. 3 bore has never been proved. * • • Dividends Dus ] Hudilart-Parker—interim, ord. 4 p.c., prel’., 3 p.c Sept. IS Kenipthorne and Prosser—interim, 4£ p.c. Sept 24. British Tobacco—quarterly, 3 p.c Sept. 30. C. L. Innes, final, 4 p.c. ord. and pref Oct. | Bank of Australasia, interim. 14 p.c. p.a Oct- 3. Milne and Choyce—shares and j deb. stock, 8 p.c. p.a Oct. 10. ; Wright, Stephenson, interim, ord., 3J p.c. .. . Oct. 6. ; Dunlop Perdriau Rubber, final, of 3 p.c. on ords., and 5 p.c. on prefs Oct. 10