THE WEEK REVIEWED.

Auckland Star, Volume LIX, Issue 213, 8 September 1928, Page 4

THE WEEK REVIEWED.

COLONIAL SUGAR ADVANCE.

WOOLLEN SHARES BETTER.

Fewer transactions were recorded on 'Change this week, but this is not due to shortage of money for investment. The real position is that prices for many lines popular with the investing public ha'/e now reached a point beyond which the rate of interest returned would be too low, and that lessens sales. New Zealand Insurance had several transactions at £2 4/, and South British Insurance changed hands at £3 3/6, at which prices the buyers must be content with a moderate return upon their investments. Colonial Sugar Refining Co.'s shares had a good rise this week, up to £62 10/ being offered at the noon call yesterday, without sales resulting. At the afternoon call, however, buyers dropped to £61 10/, but sellers still asked £64. N.Z. Loan! and Mercantile Agency ordinary share? 1 are wanted at £110, but sellers ask I £118. P. and O. Deferred Stock are inquired for at £235, but the sellers want another £10. The 4% per cent War Loan, 1938, sold at £99 7/6 and then the buvers dropped to £98 15/, but the issues maturing in 1930 could be placed at £99 5/. Business was done in Auckland Gas G% per cent, 1935, at £102 5/, and a number of transactions took place in Auckland Harbour Board 6 per cent debentures at £104 15/. . ! A fair number of Bales were recorded of Commercial Bank ordinary issues at £1 10/9, after which a penny less was j accepted yesterday afternoon. National Bank of Australasia contributing issue sold up to £9 8/9, and for Union Bank £15 5/ was paid. Several sales were made of Bank of New Zealand at £3 1/3. National Bank of New Zealand shares were offered at £7 2/6 yesterday afternoon, but buyers only quoted £7 )/'. Bank of New South Wales shares could now be placed at £50 5/, but latterly no i sellers quoted. ; Inquiry ha.-, set in again for shares m 'Dalgety, Ltd., at £15 1/, while Golds- ! brough, Mort shares had steady demand at £2 11/. N.Z. Farmers' Fertiliser ! shares firmed to buyers at £4 4/6. Northern Steam shares had several transactions during the week at 14/6, and sales were made of Devonport Ferry at £1 4/6. Business was done yesterday in Amusement Park shares at 5/, also in Morris Hedstrom at £1 I/. Further sales were made of Auckland Gas at £1 3/4. Gear Meat shares changed hands at £2 1/. and for British Tobacco £2 3/6 was again paid. Business was also done in Havward's Pictures at £1, and in N.Z. Refrigerating contributing issue at 8/11. Several transactions took place in Wilsons Cement at £1 18/9, and buyers now offer threepence under that figure. Woollen company shares are firmer this week. Sales were made of Kaiapoi ordinary issue at 13/3 (cum div.), and that price was again offered yesterday afternoon. Wellington Woollen ordinary shares sold as high as £0 12/6 during the week. In coal shares the only business that occurred was in Tairpiris at £1 7' j and £1 6/9 and Westport Stockton ordinary issue at 3/8. Buyers now oiler 9/ tor Renown shares, but sellers ask another 3/6. An improvement has taken place in the_ inquiry for shares in timber companies. Kauris are now wanted at £1 0/3 and for L.O'B. shares £1 13/9 was offered yesterday afternoon. ParkerLamb shares could be placed at 17/6 and Nationals at 8/6. Better prices were also offered for brewery shares. Staples Brewery were wanted at £1 19/ and N.Z. Breweries at £2 8/6, while C. L. Innes, Ltd., preference issue, sold at £1. In mining shares the only sales were Ohineniuris at 7/9 and Waihia at 12/ and 12 I. A sale was made at 8/ of shares in Taranaki Oilfields.