Taranaki Oils Rise Steeply on ’Change

Northern Advocate, 31 May 1939, Page 8

Taranaki Oils Rise Steeply on ’Change

Late News

[Special to “Northern Advocate ” 3 AUCKLAND, This Day.

Taranaki Oils held the limelight on the Stock Exchange this morning, advancing sharply to sell at 9/3. On top of yesterday’s substantial rise, this made an improvement of more than 50 per cent, in two days. Otherwise, business was quiet in contrast with yesterday’s activity, and the only other sale among listed securities was in Auckland Gas at the unchanged price of 16/6.

There was not the usual interest in Australian industrials, brokers quoting close to yesterday’s levels for nearly all issues. Ex-dividend quotations for Broken Hill Proprietaries were firm between £3 7/6 and £3 9/-, but A.C.I. had reduced buying offers at £1 18/6, holders asking 1/6 more. Colonial Sugars looked stronger, with best offers at £sl and sellers at £sl 15/-.

Strength in Farmers’ Fertilisers was reflected in a better demand at 17/-, which brought in a seller 6d higher. Milne and Choyce debenture stoc.v:i also had an improved market between 14/- and 16/-, and most New Zealand industrials were firm. Banks and insurance shares showed little change, but a slightly firmer Lone was evident in the Government section, where buyers predominated. Sales completed at the noon call were: National Banks, £2 6/6; Tooths, £2 18/-; Taranaki Gil. 9/3.