DEFINITE TONE

Hawke's Bay Tribune, Volume XXII, Issue 155, 16 June 1932, Page 10

DEFINITE TONE

OF GREATER CONFIDENCE INVESTMENT PRICES RELATIVELY STEADY. HEALTHY TRADING [Special to “Tribune.”] (By “Noon Call.”) Auckland, June 16. Investment prices have held relatively steady over the past week. Rises have been recorded in certain directions, and a definite tone of greater confidence is recorded. Nevertheless, there have not been the advances in prices of certain Australian securities the more optimistic were inclined to look for.

Comparatively healthy trading has been recorded on New Zealand Exchanges over the past week, but .business has been confined mostly to divi-dend-earning securities. The gilt-edge section remains very firm with buyers for Government securities well in the majority, and sellers not exceptionally easy to locate at present prices. Most issues can still be bought at a price which allows a return of five and a half per cent, or over when redemption is taken into consideration. Debentures of farmers’ companies continue to change hands at a discount. Gisborne Sheepfarmers’ six and a half per cent., for instance, changed hands this week at a price which shows a return of over nine per cent. Farmers’ companies aye not very popular with investors to-day, even the big departmental store of the north, the Farmers’ Trading Company, not earning enough to pay a dividend this year. This, however, is not necessarily the result of ordinary trading, but must be put down largely to the consequences of coming out in further fields of enterprise, namely, a campaign to combat cut-rate grocery stores on their own territory, and also to enter into active competition with the big departmental stores like Woolworths.

COMPANY PROMOTERS’ ACTIVITIES.

In spite of the times, company promoters continue to bring forward fresh schemes for the consideration of investors. Ono of the latest is a proposition to establish ten-acre tung oil farms on which investors are told they can retire in five years’ time to live on the profits which ate said to become available in that time.

Promoters of mining vc fares are also busy, and are meeting v. ith a certain amount of support. Considerably more activity it being recorded in the Thames district, and hopes are held out there for big developments in the sphere of low grade ore. In the south there are a number of companies reporting satisfactorily every week, and this serves as a stimulus to further investment.] In the sphere of dividend-earning securities there are still many worthwhile investments, particularly now that it seems there is to be some certainty as to political policy across the Tasman.

The banking section should be exceptionally worthwhile for the careful selector, shares in concerns such as New South Wales, English, Scottish and Australian and the Commercial Bank, to name only a few, must prove good holding. There is much speculation as to what dividend the Commercial Bank will pay this year, but, even apart from the point of immediate return, shares in this concern, as in many others, have a prospective value and should increase in price very appreciably once the market definitely improves.

Below is a summary of some of the better-class business put through on New Zealand Stock Exchanges over the past few days, giving the return on investment based on the latest dividend. Return

Sale price. n investment. £ s d £ s d Bank of N.Z. ... National Bank o 2 2 6 6 14 11 Australasia 5 0 0 8 0 0 National Insurance 1 1 6 13 0 Auckland Gas .. 1 0 7 6 16 1 N.Z. Breweries . 1 4 9 6 9 3 STERLING EXCHANGES. British Official Wireless Service Rugby, June 13. The following quotations of exchange are current to-day compared with those of June 12 and par:— Pai June 12 June 13 Pans, fr. co £ ,24.21 93 5-16 93 5-16 N.Y., dol. to £ 4.86} 3.673 3.672 Montreal, dol. to £ 4.86J 4.24J 4.26 Brussels, bet. to & 35.00 16.35 26 3-8 Geneva, tr. to £ 25.22: 18.82} 18 13-16 Amst-dam, fl. to £ 12.18'/ 9.07} 9.07} Milan, lire to £ 92.4f 713 71 11-16 Berlin, mks to £ 20.43 15.52$ 15 9-16 St'holm, knr to £ 18.159 19.50 19} C’hagen, knr. to £ 18.159 18.30 18 5-16 Oslo, knr. to £ 18.159 20 1-16 20} Vienna, scligs. to £ 34.585 36} 36$ Prague, knr. to £ 154.25 1238 124 nel'forB. mks. to £ 193.25 215 215 Madrid, pea. to £ 25.225 44$ 44 5-8 Lisbon esc. to £ 4.50 110 110* Athens, drach. to £ 375 570 570 Bucharest, lei. to £ 813.61 617} 617} Rio de J., p. to mil 16.70 J B. Aires, p. to peso 47.62 34* 34‘ M. Video, p. to peso 51 30’ 31» Bombay, p. to rup 18 17 15-16 1715-11 Shanghai, p. to tael — 19} 19 29-32 H. Kong, p. to dol. — 15 3-8 15 11-31 Y’haina, p. to yen, 24,582 215-8 20 5-8 •Nominal. BASE METAL QUOTATIONS London, June 1 1 The official London (middle) quo tions for to-dav compare as 1 low W,. I those previously abled •— June 13 June 14 Per ton Per ton £ s d £ s <1 Copper— 27 3 9 Standard fwd 27 4 I • Standard spot 27 < ! t 0 7 ’'Electro,\ iiilo ‘II I (; J II 0 0 II 10 0

Wire bars . 31 10 0 31 10 0 Lead — Spot . 9 10 0 9 5 0 Forward . 9 18 9 9 13 9 Spelter- — Spot . 11 11 3 11 8 9 Forward . 11 18 9 11 16 3 Tin-r-Spot 115 2 6 113 7 6 Forward 117 12 6 115 12 6 Silver — Standard, per oz 16 ’ 7-8d 16 7-8d Fine, per oz. 18 3-16d 18 3-1 (id *American not quoted.