Markets and Money
A Review for Business Men
ON THE ’CHANGE
BUSINESS BRISK WAIHIS FIRM A healthy tone still prevails on the market and many sales are being - recorded. Bank of Australasia and Commercial Bank of Australia shares are firm and changing hands freely. New Zealand Loan and Mercantile stock, both ord. and pref.. are firm, with buyers a? £92 and £BO respectively, sellers appearing for ord. stock at £95. Timber shares are weak, Kauri and I National being the only companies supported. Colonial Sugar shares are steady, with buyers £52, no sellers quoting. In the mining section Lucky Shots are in demand at increased prices and Waihis remain steady, with buyers 20s, sellers 20s 3d. SALES REGISTERED At yesterday afternoon’s call. —On 'Change: Lucky Shot G.M. Co. (contg.), 2s: Majestic G.M. Co., 3d; Waihi G.M. Co., £l. Keported.—Bank of Australasia, £l4 14s 6d: Commercial Bank of Australia (ord.), £1 7s 9d; Bank of New Zealand, £2 ISs 3d: Hikurangi Coal (A pref.), 6s 3d; Auckland Amusement j Park (ord.), 15s. At this morning's 10 o’clock call. — On 'Change: Commercial Bank of Australia (ord.), £1 Ss; Lucks' Shot G.M. Co., 2s. Reported.—Bank of Australasia, £l4 14s; Whittome, Stevenson and Co., £2 5a
Reported.—Commercial Bank of Australia (ord.), £1 7s lid; National Bank of N.Z., £6 15s 9d; Waihi G.M. Co., £l. MID-DAY QUOTATIONS Closing quotations at mid-day to-day were:—
MINING NEWS KURANUI.—The manage, reports: The drive on Hunt’s reef from the top of the rise has been advanced Bft. for the week. The reef still looks very promising for making gold, and shows some nice silica and blend when broken out The drive seaward on Oddfellows’ reef has been driven 7ft. for the week, making a total of 18ft. from the cross-cut. The reef still maintains its size, and is very heavily mineralised, but no gold has been seen.
With Investors on the Change
THE WEEK REVIEWED DEMAND FOR COALS WEDNESDAY, 10 aan Though no great increase in the volume of. the business put through has been registered, the market for most classes of shares Js in good tone, and inquiry over the week has indicated more money available for investment. Banks continue to stand high in public favour, and, as a section, are the most frequent sellers. The market all round has a firming tendency. New Zealands are an exception, though they head the list of reported sales in this section. Three parcels were dealt with in Dunedin at 5Ss 3d on Wednesday and one: parcel in Wellington. Other sales were, made over the period, but Christchurch saw a sale on Monday at 5Ss. Commercials saw eight reported sales on a market opening at 27s 7d and firming to 27s 9d yesterday. Other bunks draw firm buyers and the market generally is j active.
Insurance shares continue in good tone on a firm market. In the loan and finance section New Zealand Guarantee Corp. command the most attention with a strong Southern inquiry on a market up to 9s 3d. Auckland, which put through these shares at 9s, is the weakest market. Coals are firm at late quotations, with a strong inquiry for most shares, and a tendency for sellers to keep ahead of the market. Westports were dealt with three times in Christchurch at 33s 6d. Pukemiros are slightly weaker after a sale at 61s on Friday. Renowns remain firm on a market around 7s. Taupiris saw two sales on the Auckland Change toward the latter end of last w€*ek. ATTRACTIVE PROPOSITION Waipas, which were dealt with at 15s 6d on Saturday, offer one of the most attractive propositions on the 'change. Operating on a comparatively small capital and regularly finding 10 per cent, for its shareholders, even at a few shillings more, offer greater returns on investment than most other coal shares. At 15s 6d the return worked out at 10 per cent, would represent £9 13s 6d. Gas shares are generally quiet, though Auckland and Christchurch shares continue to see sales on a market with a slight firming tendency. In the miscellaneous section, Wilsons Cements have firmed to see sales at 35s 6d, with a strong demand from the four centres. This, offering a return of approximately £5 10s per cent, on investment, places these shares on a par practically with banks, and makes it, a moot point whether capital so invested is placed to the best advantage. Most other shares in this section are quiet. New Zealand Fertilisers are weak. Auckland Amusement Park have improved from sales in Dunedin on Thursday at 14s to see ' buyers in at 15s yesterday and no sellers. With the exception of Waihis which are firm at 20s to 20s 3d. mining is depressed and mostly idle. Lucky Shot improved 6d to 8d yesterday following on go<3d news from the mine. Timbers are slightly weaker and generally idle. Woollens are depressed and command little attention. Isolated sales of Government and local-body debentures were made over the week, but the market is, if anything, slightly weaker.
LONDON MARKETS By Cable.—Press dissociation.—Copyright LONDON, Monday. WOOL At the London wool sales on September 13, 124,000 bales will be offered, of which the new arrivals are: Australian. 34,500 bales; New 2iealand 41,000. THE METAL MARKETS (Quotations on Sept. 1 in parentheses.) Copper.—Spot, .6 54 15s 71d (£54 13s ljd); three months, £55 5s 7*d (£53 ! 3s l£d). Lead. —Spot, £2l 17s 6d (£22 Bs9d); three months, £22 8s 9d (£22 17s 6d). Spelter.—Spot, £27 2s 6d (£27 ss); three months, £27 13s 9d (£27 7s 6d) Tin.—Spot, £289 12s 6d (£2BB 7s months, £2S4 7s 6d ( £284 Silver.—Standard. 25 3-Sd (25 l-8d) per oz; fine, 27 3-8 d (27 l-8d). WHEAT Wheat cargoes are dull at 3d easier owing to lower week-end cables from America. Parcels had a poor response at 3d decline. Liverpool futures: October, 10s 8 7-8 d per cental Lecember, 10s 9 3-Sd; March, 10s SSd: May, BRADFORD TOPS The market is quiet. Spinners are receiving a few more particulars, but there has been very little new business. THE PRICE OF GOLD The price of gold is S4s lljd per oz. RUBBER —A hf and° C NZ of rubber are 051 - tons. BUTTER AND CHEESE OFFICIAL LONDON QUOTATIONS offlce d of the I 'Nfw P v«?i be a the London vmus week given in parenthtles) butter 7,7,’v Marhe * finn to A l7os) tine: L ' nsalled ' 1703 to 174 s (166 s Dutch: Unsalted, 174 s (166 s to 170 s) ~? s * onian: Salted. 166 s t<» (if °V- t i 1665); unsalted, 170 sto 172 s (16S s L Latvian: 168 s to 170 s (164 s tn -cc c , : isos - *advmfchtg'* : on°Monday* - to Damsh Is lOd, Colonial Is, 9d. y 1 j CHEESE Zealand: White and coloured good demlnd ilarket «rm with 96s to 975. up'to’WlDas *o d 9te) lOU^»r Se U irVeis,in 9 g 7S iS t° 92s Ch t : o 1 9 - 3s L ' Powel1 ' v - Young and G. English Finest Farmers’: l'°s to use (112 sto 116 s). X “ S to 118 s ; Retail prices unchanged.
Sellers. Buyers. BANKS— £ s. d. £ s. d. Bank of Australasia 14 16 6 14 13 0 Com. Bank of Aus. 1 8 1 9 Ditto (pref.) 6 19 0 Com. Bank, Sydney 24 b 0 National of N.Z. . . 6 17 0 6 15 9 Nat. of Australasia 17 3 0 New South Wales 44 0 0 43 7 6 New Zealand . . IS 2 18 0 Ditto, mortgage (10s paid) .. .. 0 16 0 Ditto, mortgage (20s paid) 1 7 0 1 6 0 Union of Australia. 15 2 0 — INSURANCE— New Zealand .. .. 2 0 0 1 19 6 South British .. . . 2 IS 6 2 17 Standard (ex div.) — 2 19 0 LOAN AND AGRNC3. -rFarmers’ Co-op. Auet (A pfef.) 0 is 0 0 16 0 Ditto (B pref.) .. 0 lb 0 14 Newton King (pref.) 0 14 0 N.Z. and River Plate 1 7 6 1 N.Z. Guar. Corp. .. 0 9 N.Z. Loan and Merc. 95 0 92 Ditto (pref.) .. .. 80 0 0 N. Auck. Farmers’ (B pref.) — 0 5 6 COAL— Renown (con.) . .. 0 7 6 0 6 3 Hikurangi 0 a 6 0 3 Ditto (pref.) .. .. 0 9 0 7 0 Ditto (A pref.) .. 0 6 y 0 6 0 Pukemiro i 6 Taupiri 1 1 4 9 Ditto (pref.) .. .. — 1 3 6 Waipa 0 6 "W estport — 1 13 3 GAS— Auckland 1 3 0 1 «» 9 Ditto (con.) . . .. 0 17 0 16 Birkenhead and Northcote 0 16 0 Ditto (pref.> .. .. 1 0 0 SHIPPING— Devonport Steam .. 1 4 3 Huddart-Parker. 2 7 3 2 Northern Steam 0 15 0 Ditto (con.) .. .. 0 7 0 0 P. & O. (def. stck.) 285 0 0 Union Steam tpref.) 1 0 3 0 L9 9 TIMBER— Kauri Timber .. .. 1 5 National 0 .5 0 0 Parkey-Lamb 1 0 Taupo Totara .. .. 0 17 0 WOOLLEN—
Wellington (pref.) . 6 5 0 5 17 6 BREWERIES— C. L. Innes (pref.).. 1 0 0 N.Z. Breweries .. .. 2 3 3 MISCELLANEOUSAuck. Amuse. Park. British Tobacco 14 9 Bycroft, Ltd 1 10 Checker Taxicab . . Colonial Sugar (Aus.) 52 Dental and Medical 0 Dominion Pictures . Ditto (pref.) .. .. 1 Electro. Zinc (pref.) 1 10 Gear Meat Co. Hill and Plummer .. 1 6 H.M. Arcade (pref.) 1 N.Z. Drug 3 5 0 Lewis R Eady & Son. Ltd. (7 p.c. B pref.) 1 1 0 Murchison Oil (20s paid) 0 19 6 Farmers’ Fertiliser. N.Z. Paper Mills .. 0 17 N.Z. Refrigerating . 0 14 0 Ditto (con.) .. .. 0 Northern Boot .. .. 0 IS 0 Phillipps and Impey 1 14 0 Robinson Ice Cream 1 6 Sanford, Ltd 1 1 9 Ditto (pref.) .. . 1 1 9 Thames Theatre 1 0 0 0 15 0 Ton son Garlic k 0 11 0 10 0 Union Oil 0 0 6 Whittome Stevenson 4 0 6 Wilsons Cement .. — 1 15 6 MINING — Alburnia 0 3 0 o Ballarat (con.) 0 b 6 Moanataiari (pd) 0 10 0 Empire Reefs (con.) 0 0 8 Golden Age (con.) . 0 0 6 Kawarau 0 l 0 0 Komata Reefs .. .. 0 0 3 Kuranui 0 0 4 Lucky Shot (2s pd.) 0 3 0 0 0 Ditto (con.) . . . . 0 0 V 1 10 Maoriland (con.) 0 1 3 Mt. Welcome (con.) 0 1 6 New Waiotahi (4s paid) 0 1 1 0 0 9 Ditto (con.) .. .. 0 0 10 0 0 7 Oliinemuri 0 Waihi 1 0 3 Waihi Grand June. . 0 1 0 1 AUSTRALIAN— Mount Lyell — 1 0 0 DEBENTURES— Auckland Gas, 1928, 6i P.c 101 0 0 Auckland Harbour Board, 4 p.c. .. 85 Ditto, 5?; p.c Ditto, 52 p.c 101 0 0 99 Ditto, 6 p.c City of Auckland, 1940, 5J p.c Auck. Elec. Power Board, 55 p.c. .. 100 0 0 96 Bor of Devor.port, 6 p.c 100 0 0 Ditto. 45 p.c. 92 0 0 Borough of Mount Albert, 6 p.c. 103 10 0 N.Z. Breweries .. . . Glaxo — 89 0 0 GOVERNMENT BONDSWar Loan, 1930, 45 — 97 Ditto. 1938, 4 5 .. 96 10 0 96 Ditto, 1939, 45 96 10 0 96 0 0 INSCRIBED STOCK War Loan, 1929, 5 5 Ditto, 1938, 4i .. 96 10 0 9 Ditto, 1939, 45 .. 96 Ditto, 1933, 55 .. 100 15 0 100 Ditto, 1936, 55 .. 100 5 0
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/SUNAK19270907.2.27
Bibliographic details
Sun (Auckland), Volume I, Issue 143, 7 September 1927, Page 2
Word Count
1,876Markets and Money Sun (Auckland), Volume I, Issue 143, 7 September 1927, Page 2
Using This Item
Stuff Ltd is the copyright owner for the Sun (Auckland). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.