COMMERCIAL

Greymouth Evening Star, 24 November 1930, Page 2

COMMERCIAL

STOCKS AND SHARES. [special to “stab.”] AUCKLAND, November 22. Only moderate business was transacted on the local Stock Exchange for the week which ended last night, and the closing sessions were really dull with only two sales recorded at the last three calls. Values on the whole were fairly well maintained, but there was little life in the market, and buyers were evidently sticking rigidly to their limits. During the early part of the week there was the usual steady inquiry for banking shares,' but a decided falling off was noticeable later, and at yesterday’s calls, the scrip of many of the leading banks was passed without eliciting a buyer. It is many months since this has occurred. Another section that has been conspicuously dull of late has been that devoted to coal and its reputation will not be enhanced with investors by the address given in Wellington by Col. W. D. Holgate, president of the Coal Mine Owners’ Association, who has drawn attention to the grave position affecting the industry. According to Col. Holgate, it will be impossible for most of the dompanies to show profits unless production costs can be lowered, and this is a problem much more easily stated than solved. The only local sale during the week was one of Grey Valley Collieries at 19/3 showing a further drop in that scrip of 1/3.

AUCKLAND, November 24.

Sale: Bank of New South Waites £oz. Reported: Waihi 14/6; Colonial Sugar £34/15/-; Inscribed 51 (1936) £99/7/6. WELLINGTON, November 24. Sale reported: Commercial Bank 17/1.