Market Closes In Good Tone

Sun (Auckland), Volume II, Issue 508, 10 November 1928, Page 12

Market Closes In Good Tone

Further Advance In Waihis

(By

“Noon Call.”).

F[E healthy tone registered on ’Change during the week held to the close. All the popular investments met with a very firm demand.

The banking group shows little Change. Nationals of N.Z. are slightly firmer and buyers at £7 this morning failed to draw sellers. Business in this scrip was put through (a the South during th l morning at £ i ->s. The feature of the insurance section is the increased number of sellers. p A.'s were offered at Ss. vueensiand are very firm with no sellers. Slightly more interest is being taken in timbers following the publication of the year's results of one or two of the bigger companies. Kauris were sought this morning at 18s. Leyland O'Briens found a buyer at 30s, 2s below the market price during the second week in August, the date of the last reported sale. No business took place, sellers asking 34s 6d. It is interesting to note that a buyer for Dental and Medical shares came in this morning at 10s, after a long period of neglect. Colonial Sugars are slightly easier, with sellers at £62 5s supported by buyers at £6O. The reason for the

slight awakening of interest in Fullers’ Pictures last week was seen when the announcement was made last evening of the payment of an interim dividend at the rate of 4 per cent. Sellers this morning were unsupported. Waihis continue to register an upward movement, reaching 13s lOd in the call-room this morning. The reason for the strength of the market is hard to adduce. The substantial dividends paid out recently certainly give the scrip a big attraction. In addition, there seems to be a very optimistic feeling in some quarters that the company may yet strike a profitable patch. * Business yesterday afternoon: New Zealand Insurance, 47s 6d (two parcels); N.Z. Breweries, 58s 6d>. iWaihi Mining, 13s Bd. Business this morning.—On ’Change: Waihi Mining, 13s Reported: Hikurangi oCal (pref.), ils; Commercial Bank of Australia, 30s 4d~