AUCKLAND

Press, Volume LXXIV, Issue 22337, 26 February 1938, Page 14

AUCKLAND

[THE PRESS Special Service.]

AUCKLAND, February 25,

Under the influence of the better sentiment in London, a more cheerful tone developed on the Auckland Stock Exchange this week. With the reports of the developments in the British Cabinet came the news of the immediate recovery in the commodity markets and in prices on the London Stock Exchange. Since then the events have been reviewed in a calmer light and the advance has not been fully maintained. Levels, however, are deanitely better and are being assisted by the improvement on Wall Street, the direct cause of which has not yet become evident at this distance. The latent strength of the market was amply demonstrated by the eagerness of investors to operate upon any favourable news. The Auckland market exDerienced a really active week and it was satisfying to brokers to be able to meet clients with a more optimistic outlook. Business increased considerably in volume and share Drices showed more marked readiness to respond to increases of dividend and the development of more encouraging prospects overseas. Banks were somewhat less sensitive to the general activity and with the exception of New South Wales were rather easier at the close. Insurance were firm. Metals were the feature of the week and the firming in quotations on the London Metals Exchange was followed by an immediate lift in the levels of dependent shares. The increased Woolworths dividend, together with the announcement of another bonus, was a further tonic to the market. The market in Auckland rose steadily throughout the week and then eased slightly following the announcement. Dunlop Perdriau is another issue concerning which the market is in an expectant mood. The interim dividend announcement is due shortly.

PRICE OF SILVER

(bmtish omcin. wirhlxss.)

, RUGBY, February 24. Spot silver is quoted at 20Jd a fine ounce and forward at 19£ d,