YESTERDAY'S SALES.

New Zealand Herald, Volume LXVII, Issue 20496, 22 February 1930, Page 7

YESTERDAY'S SALES.

BUSINESS ON EXCHANGES. RETURN ON INVESTMENTS. Following is a list of yesterday's transactions on New Zealand Stock Exchanges. In the second column is given the return, based on the last dividend, from investment at the quoted price. In the case of Government and other redeemable securities the return includes redemption,. The first column gives the figures at which the sales were made:— AUCKLAND EXCHANGE.

REVIEW OF THE WEEK.

UNCERTAIN TONE PERSISTS. BANKS FAIRLY STEADY. Although business on the New Zealand Stock Exchanges has not been so extenv sive. the investment market has been somewhat steadier during the current week. While movements at the moment are slight and numerically few. most of the bank stocks and some of the stronger industrials have registered improvement upon, last, Friday's quotations. In the gilt-edged division inquiry was restricted, but, except in the case of local body and commercial debentures, there was little evidence of great selling pressure. Declines in the banking section principally affected Commercials of Australia and Australians of Commerce. The former depreciated 7d to 22s 10d. and yssterday the highest offer was 22s 7d, with, sellers asking~23s. Eights to the new issue sold freely between.2s and 2s 3d. Australians of Commerce, which hist week had sale up to 25s 4d, were dene down to 255. at which price they remained fairly steady. Nationals of Australasia were in demand 7s 6d better at £ls 7s 6d. with sellers unchanged at £ls lis. and New _ South Wales were also a shade firmer with, inquiry at £4O 10s. The sale price of New Zealands advanced 3d to £2 18s. and Unions moved, up 3s to £l2, at which level there was further business offering. Notable movements in other sections of the market were comparatively few. Business was slack in insurance. For New Zealands sellers wanted 44s 6d, with buying limits standing firm at 43s 3d. The unaltered price of 61s was paid far South British. Pastoral stocks were dull cf sale. A quotation of Daigeiys at £l2 3s 6d attracted an offer of £ll 15s. Offers for Goldsbrough-Morts advanced from 30s 9d to 31s 3d. without business being done. In gas Aucklands weakened to 23s 6d. Shipping investments cllaimed better support. and business was done in Northerns at 14s, an advance of 3d on the previous week's figure. Breweries also received constant attention, but little business was transacted locally, more being done in. th.e Southern centres.

There was a weaker demand for general investments. In Christchurch British Tobaccos registered improvement from 41s 4d to 425. There was no business an the local market, bat cfters closed yesterday at 425, a rise of Is on the previous week's level. Colonial Sugars reacted to unfavourable influences and receded 10s to £43 17s 6d. The steady price of 41s 6d was paid for Whittome-Stevensons and Wilsons Cements had sale several times at 395, offers closing firmer vesterdav at 58s lOd. In raining chief interest centred in Mount Lyeils, which after easing to 34s Id, recovered to 34s sd. Waihis made the steady price of 13s 3d. WELLINGTON MORTGAGES, LTD. DIVIDEND OF 7 PEE CENT. [BY TELEGEATH. —OW?T COBBESEONDENT. ] -VTELLES T GTON ( Friday. The second annual meeting' of share-holders-of Wellington Mortgages, Limited, was held yesterday afternoon. In moving the adoption of the report and balance-sheet the chairman, Mr. W. M. Wright, said that during the past financial year the business of the company had been profitable and the accounts showed a large increase in every item. The average amount of the loans granted was £333, The largest loan was £IOOO and the smallest £2O. The company had adopted the insurance principle of dealing with mortgages and every one of them had been inspected by the directors before being accepted. Tha meeting recommended the directors to call up the balance of the capital and to issuo the amount that had not been allotted. The report and balance-sheet were adopted and an interim dividend of 4 per cent., making ? per cent, for the year, was declared. The directors were voted a honorarium of £l5O among them. Messrs. E. P. Hay and F. Meadowcroft were re-elected directors and MrC. E. Webb was reappointed auditor.

AMERICAN WHEAT MARKETS. FURTHER SHARP DECLINES. (Received February 21. 5.5 pjmJ CHICAGO. Feb. 20. Wheat prices declined at Winnipeg today by 2i to 2J cents a bushel. The prices to-day at Chicago were:— March, 1 dollar 8J cents a bushel; May, 1 dollar 13i cents; July, 1 dollar 15 cents; September, 1 dollar 17 cents. The market, closed with sharp losses in all American markets, with both local and foreign news generally discouraging. Tha Chicago prices.' were affected especially by the Winnipog news, and traders watched that market, expecting a further sharp break at any time. The local situation is indicated by the fact that prices are now sGjj cents lower than in July, and 8 cents under the figure at which the market stood when the Federal Farm Board organised the Stabilisation Corporation. To-day's local wheat movements were characterised by extremely heavy short covering, which brought back the market several times, after the selling wave had forced new low Bgnres. But more selling appeared whenever the market threatened to movo above the previous closing price.

Return an Sals Price. Investment. £ a d £ a d Bk. of N.Z.. D pref. L 6 3 5 14 3 CHRIST CHURCH EXCHANGE. Com. Bank Aub. 1 2 9 6 11 10 Ditto 1 2 10* 6 11 I Union Bank 152 1 6 5 3 0 Westport Coal 1 10 8 6 10 5 N.Z. Breweries 4 3 0 3 12 3 Tooth's Brewer? (2) 1 19 6 6 6 7 jS.Z. Eefrig.. 20a Pd. 0 5 3 — Ditto 0 5 11 «— Booth-\TacdonaId. pi. (3) 0 4 6 Ditto 0 4 7 — New Colosseum 2 0 8 H 2 2 Ditto .. 2 0 0 11 5 0 Colonial Sugar 44 0 0 5 13 7 United Building 0 15 o 6 10 11 Electro. Zinc., ord. . X 10 0 S 0 0 Ditto 1 3 9 8 14 Mount Lyell (2) . . 1 13 9 11 17 0 Ditto ., 1 13 3 11 17 7 The following sales also took place:— N.Z. Refrigerating, 10b paid, 5b lOd; Mahakipawa, lid. DUNEDIN EXCHANGE. Nat. Bank of N.Z. .. 6 0 0 6 16 8 N.Z. Breweries 4 3 9 3 11 8 Electro. Zinc, ord. . . 1 9 6 a 2 8 WELLINGTON EXCHANGE. War Bonds. 1939. 4J .. 98 17 a i 13 1 Staples and Co. 2 8 0 5 4 2 Ifaunt Lyell I 14 0 11 15 3 The return on New Zealand Breweries shares does not include bonna accretion.