SENTIMENT IMPROVES

Evening Star, Issue 23000, 4 July 1938, Page 6

SENTIMENT IMPROVES

AUSTRALIANS MARKED UP G. J. COLES CHANGED HANDS AT £4 3/9 The brighter week-end overseas advices were reflected on the local Exchange this morning when transtasman issues reacted to the improved American sentiment and recorded further advances. Mining shares showed an almost general rise, while values of Commonwealth industrial leaders improved, in some oases appreciably. Business was quite good. A firm inquiry persisted for 4 per cent. Government loans at £lO2, but what declared vendors there were asked £lO3. Banking issnes displayed little change, New Zealands remaining quiet between £2 2s 9d and £2 3s M. Kaitangatas showed the only movement in coal stocks, easier sellers offering at £1 8s 6d, a 6d decline. Bruce Woollen ' (ords.) came on to the sales list at 7s 6d, a rise of 2s 6d since the last transaction, which was recorded early last month. Commonwealth industrials revealed another slight improvement, although market leaders were the only shares to display any appreciable movement. G. J. Coles, after reported business at £4 3s, sold in the room at 9d above that price, the highest local transaction this year. Broken Hills had buyers Is up, while Sydney Woolworths closed fractionally better. Oil shares remained lethargic, while movements in New Zealand industrials, were few. New- Zealand Drugs had an inquiry at £3 Bs, but holders were not interested. Dunedin Breweries held Saturday’s recovery at buyers £1 ss. The uncertain trend evident toward the close last week in Australian mining stocks was replaced this morning by a marked improvement. Electrolytic Zinas (ord.) were the only shares to reach the sales list, three transactions being recorded at £2 3s. the best price obtained on the local Exchange since early March Mount Lyells recorded a substantial improvement to finish 9d up, vendors quoting on the £1 10s mark. Norths and Souths advanced by Is 6d and 9d respectively, while Morgans closed uncertain. SALES REPORTED. Bruce Woollen (ord.), 7s 6d. G. J. Coles. £4 3s. Mount Lyell, £1 9s (all late Saturday) . SALE ON ’CHANGE. —This Morning.— G. J. Coles, £4 3s 9d. SALE AFTER CALL. —This Morning.— Electrolytic Zinc (ord.), £2 3s (3). AAAAAAAAAAAAAAAAAAAA

DIVIDENDS DUE. Noyes Bros. (Melbourne) Ltd.Final, 6i per cent, and bonus H per cent., making 14 per cent, per annum July a Howard Smith—Quarterly pref. at at 6 per cent, per annum ... July I National Bank of N.Z.—Final, at 5 per cent, per annum, less English income tax July 9 Hume Steel—Half-yearly. per cent, cum pref July 14 G. J. Coles—lnterim on “A” cum pref., 8£ per cent, per annum July ib Woolworths (N.Z.). ord.—s per cent July lb Mount Morgan—3d a share ... July 2u