YESTERDAY'S SALES.

New Zealand Herald, Volume LXVII, Issue 20520, 22 March 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 tho quoted price. In the case of Government and other redeemable securities the return includes redemption. Tho first column givos the figures at which tho sales were made:— AUCKLAND EXCHANGE.

REVIEW OF THE WEEK.

PRICE LEVEL FLUCTUATES.

BANKS CONTINUE ACTIVE.

After a quiet opening a brighter tone developed on the New Zealand Stock Exchanges this week. The general tendency of price movements was upward, but in some cases part of the ground gained was lost later. On the whole, however, the market was stronger than during the previous week. Yesterday a, return of hesitancy was evident. In Government investments, for which there was steady inquiry on the Auckland Exchange with little response from holders, the tax free issues claimed the bulk of the business recorded. Inscribed Stock, 1938, 4£ per cent., made several sales at prices ranging from £97 5s to £97 10s. War Loan, 1930, 4 2 L per cent., was dono at £99 ss, and War Loan, 1933, 5£ per cent., was dealt in once at £99 2s 6d. Local body business was confined to a sale of Hamilton Fire Boards, 1939, 6 per cent., at £lOl 10s. Bank shares were again freely traded in and, generally speaking, gained strength. Commercials of Australia, which had been as low as 21s 5d in the previous week, rose to 22s 2d and closed with sale at 21s 10(1. Transactions in Australasias and Australians of Commerce were also carried out at improved prices. New Zealands, after steady trading at 56s 9d, weakened a penny in Christchurch yesterday." Nationals of Np<w Zealand showed little variation from the previous level. Unions, done several times unchanged at £l2, lost ground Is at the close. New South Wales weakened, falling below £4O for the first time since early in February. Adelaides were dealt in twice sixpence cheaper at £7 2s. The insurance group remained firm. New Zealand showed activity with the price unchanged at 43s 9d. South British sold once, unchanged, at 61s.

A hesitant tone is still evident in the loan and agency section. Dalgetys, which have been falling since they were done at £l2 in the third week of February, lost another 2s with sale at £ll 2s. Golds-brough-Morts were unsteady, opening stronger at 325, but suffering a relapse. After a lapse of some months North Auckland Farmers and New Zealand Farmers, B pref., were dealt in, the former falling from 3s to 2s 6d and the latter from 65s 6d to 52s 6d.

In breweries Carltons rose Is 6d to 38s 6d, but relapsed later to 36s 3d. New Zealands moved similarly, gaining 3d to 83s and selling later at 82s Id. Staples' were dealt in once unchanged at 48s. More activity was shown in gas by Aucklands which sold 2d weaker at 23s 6d. The contributing issue was dealt in at a similar decline. Christchurch sold 3d dearer at 26s 3d. In coal Pukemiros sold unchanged at 69s 6d, but offers afterward weakened to 665. Grey Valleys gained strength.

In shipping solitary transactions took place in Huddart-Parkers and Unions, which weakened Is and 6d respectively. In the miscellaneous section British continued to be the most active stock, being dealt in at higher levels than in the previous week. Sales were made as high as 42s 6d, but the level was not maintained. Both issues of Electrolytic Zincs made appreciable gains and closed firm. Colonial Sugars, after selling 2s 6d weaker, recovered to the recent level of £44. Mount Lyells practically monopolised attention in the mining section, and averaged about Is better than in the previous week. FROZEN MEAT MARKET. QUOTATIONS FROM LONDON. Dalgety and Company, Limited, report having received the following cablegram from their London house, dated March 20. regarding the frozen meat market:— Now Zealand Lamb.—Primo Canterbury, 281b to 361b, 9d, North Island B|d; Canterbury, 361b to 421b, BJd, North Island Canterbury, second quality, BJd, North Island B|d; Canterbury, 421b to 501b, Bid, North Island Bd. The market is weak and the demand is poor owing to cold weather. New Zealand Mutton.—Primo Canterbury, 481b to 561b, 7|d, North Island 7d; Canterbury, 561b to 641b, 7d, North Island 63d; Canterbury, 641b to 721b, The market is weaker. The demand runs principally on light-weights. Pork.—English, 801b to 1001b, 12d; Now Zealand porkers, 801b to 1001b, lid, 1001b to 1201b 10j|d. The market for New Zealand pork is very firm. The demand is active.

TIMARU BREWERY COMPANY, DIVIDEND OF 10 PER CENT. The annual report of the Timaru Brewery Company, Limited, discloses a net profit of £4506 .for tho year ended February 28, 1930. With £9409 brought forward, £13,915 is available for distribution. Dividend at 10 per cent., the same rate as was paid in the previous year, absorbs £3630. After payment of directors' fees, £250, there is left £10,035 at the credit of the profit and loss account. EGMONT COAL COMPANY. [BY TELEGRAPH. —OWN CORRESPONDENT. ] NEW PLYMOUTH, Friday. The Egmont Coal Company's mine at Tangarakau is to be officially opened by the Hon. W. A. Voitch, Minister of Mines, on March 29. The mine has been working for some time, and tho present output is 50 tons a day. Next week it will bo increased to 100 tons, and the following week, when electric coal-cutting machinery is in operation, it will be 150 tons daily.

Keturn on Sale Price. Investment. £ 6. d. £ s. d. Inscribed Stk., '38, 4J 97 7 6 4 18 0 Com. Bk. Australia 1 1 10 6 17 5 Union Brink 11 19 0 6 4 7 Grey Valley Coal .. 1 7 0 b 18 G Auckland Gfis (2) .. 1 3 6 0 16 2 Wellington Meat 0 7 6 — WELLINGTON EXCHANGE. Inscribed Stk., '38, 41 97 10 0 4 17 7 Bk. of Now Zealand 2 1G 9 5 1 0 N.Z. Insurance 2 3 9 4 3 10 N.Z. Guar. Corp. r.-. 0 8 G 7 16 10 Auckland Gas 1 3 6 G 16 <2 CHRISTCHURCH [ EXCHANGE. ' Bk. of New Zealand 2 16 13 5 1 2 Bank of . N.8.W. .. 39 7 13 6 1 7 Ditto 39 2 iB 5 2 2 Union Bank 11 19 0 5 4 7 Com. Bk. A via, (n.f.p.) 1 1 6 — 0 Nat. Bk. A'sin. (£5 pd.) 7 7 0 6 16 Goldsbrougk-Mort 1 11 4 9 11 6 Ditto (2) .. 1 11 5 9 11 0 Grey Valley Coal .. 1 7 1 5 18 2 Chxistchurch Gas 1 6 3 6 i 10 British Tobacco 2 1 11 5 14 e Electro. Zinc (pref.) 1 7 9 8 12 11 KiUvarau .. . .i 0 0 i — Mount Lyell .. 1 13 6 11 18 9