THE WEEK REVIEWED.

Auckland Star, Volume LIX, Issue 171, 21 July 1928, Page 4

THE WEEK REVIEWED.

GOOD BUSINESS DONE.

SEVERAL LINES DEARER.

Better prices were paid for a number of lines this week on 'Change, an evidence that there is more money available for investment. One thing, however, is quite clear, namely, that people with money to invest are prepared to accept a lower rate of interest and pay high prices accordingly for what are known as "safe lines." For that reason the prices now being paid for quite a number of popular lines do not return a good rate of interest. It is quite possible that the lowering of the rate of interest by the banks may cause money to be used for other investments. Auckland Gas 6% per cent debentures, only issued this year, could be sold at a premium of £2 5/. Auckland Harbour Board 5Y< per - cent debentures changed hands at £96 10/, and the s'/i per cent are wanted at £99 5/. The latter price could also be got for Auckland City 5% per cent. Auckland Drainage Board 5 per cent debentures were 6old yesterday afternoon at £95 10/. Soldiers' per cent Loan, 1933, changed hands at £101, and the same price was paid for the Government Inscribed Loan, 1936. All the 4% per cent War Loans are wanted at the advances noted last week. A little more attention was paid to mining shares this week, and quite a number of sales were made of Wailii shares at 12/6 and 13/. Grand Junctions changed hands at 1/4 and Ohineinuri Mines at 7/1. Electrolytic Zinc sold up to £1 13/, and Mount Lvell shares advanced one shilling, sales taking place at £1 14/9 and £1 15/9. Thames and Coromandel mining shares are almost without inquiry. Woollen Company shares advanced this week as far as buyers offers were concerned. Kaiapois (ordinary issue) are now wanted at 10/, while for Mosgiels a buyer came in at £6 17/. Wellington Woollen finned a shilling yesterday; buyers offer £6 6/ for ordinary and £6 8/6 for the preference issue. Gear Meat shares sold at £2 this week, and a transaction took place in Sharland, Ltd., at 19/9. Taranaki Oil eased a little in price, sales being made at 10/. A transaction also took place in Tonson Garlick shares at 12/ yesterday.. Quite a number of sales were made of Auckland Gas at £1 3/1 and £1 3/2, and for the contributing issue 17/3 was again paid. Devonport Ferry shares had business at £1 3/3, and Northern Steam sold at 14/9. Shares in several coal companies improved this week. Taupiris sold at £1 6/9 and Pukemiros are wanted at £3 6/. Hikurangi Collieries -had better priccs offered for all three issues. The ordinary shares could now be placed at 5/10, but there are no quoted sellers. The preference issue could be placed at 9/3, and that brought in a seller at 10/. The A preference shares are wanted at 8/6. Westport Stockton (both issues) are in request at a slight advance in prices. Insurance shares had a little more business this week. Several sales were made of New Zealand Insurance at £2 2/6, and South British changed owners at £3 once more. A sale took place this week in Standard Insurance at £3 4/6, while Nationals had buyers at 15/7. j Bank of New South Wales shares advanced to sales at £50 5/ this week. Bank of Australasia sold at £14 16/6, and buyers of Commercial Bank (preference issue) offered up to £7 5/. Sales were made of National Bank of Australasia (contributing issue) at £9 2/6 and £9 5/, and for the ordinary issue £18 8/ was offered yesterday afternoon. Quite a lot of business was done in Bank of New Zealands from £2 19/9 to £3 0/3. National Bank of New Zealand shares are wanted at £7 1/6. and Unfon Bank of Australia at £15 1/6.