HEALTHY TRADING

Sun (Auckland), Volume II, Issue 560, 12 January 1929, Page 10

HEALTHY TRADING

Keen Demand for Banks (By ‘‘Noon Call”) FURTHER noteworthy rises in the market for popular investments have been recorded over the past 24 hours. A healthy volume of business was maintained right up to E the close.

Unions of Australia show the greatest movement in the banking group, sales being made yesterday afternoon at £ls 17s, an advance of 3s on the market at the beginning of the week. New Zealands continue active at 62s with more wanted at that figure. The whole group has a very firm tone with a wide range of shares sought.

In the insurance section New Zealands show a decided movement toward the high level of early November last. Sales were made at 47s 3d yesterday afternoon and this morning tbe market held that figure as a middle price. South British are again easier, sellers dropping another 3d to 64s 3d. The last recorded sale of this scrip was made during the second week of December, when the market was very firm at 64s 9d.

One of the outstanding features of the loan and agency section is the firm tone of New Zealand and River Plates. Sellars are hard to locate and buyers advanced to 33s this morning. This was the figure at which rhe last recorded sale (made during the last week in October) was put through. Buyers of Newton King preference shares have also improved 3d to Bs. New Zealand Guarantee Corporations are neglected. In coals, sellers of Hikurangis Continue to find support on present levels. JEtenowns are very firm with buyers at 35s not attracting sellers. Sellers of Taupiris dropped 3d without effecting a sale.

Breweries are very firm. New Zealands have moved up to see business at 58s 6d, compared with 5Ss earlier in the week, and 57s when the 'Change closed in December. Sellers of Staples are hard to locate with steady buyers at 425. In the mining group Waihis are slightly weaker, with sellers at 14s 6d, supported by buyers at 14s 2d. The returns for this company, released earlier in the week, showed a substantial drop in the earnings off the Junction property. An error in the transmission of the telegram from Waihi has since been corrected, and the revised report shows that, while the return from the Waihi mine worked out at approximately £1 11s 8d a ton, the yield from the Junction was £2 13s 6d a ton, an increase of over 4s a ton on the yield for the previous month. The improvement in Mount Lyells is maintained and the market for this scrip is very firm with sellere at 425, supported by buyers at 41s. Business yesterday afternoon: Bank of New Zealand, 625; Union Bank of Australasia, £ls 17s; New Zealand Insurance, 47s 3d; New Zealand Breweries. 58s 6d; British Tobacco, 55s 9d, 55s 7d; Hayward’s Pictures, 20s 9d. * * * Business this morning:—On ’Change: Bank of New Zealand, 625; New Zealand Breweries, 58s 6d. Reported: New Zealand Breweries. 58s 6d; Bank of New South Wales, £SO 15s.