FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 608, 9 March 1929, Page 12

FINANCE & MARKETS

Healthy Tone to Close

STEADY DEMAND FOR COALS

By

“Noon Call.”

DESPITE the fact that the volume of business reported for this morning was not heavy, a very healthy tone was recorded in the market on ’Change right to the close.

FLUCTUATIONS Movements shown in sales over the past 24 hours, when compared with the price at the time of the previous reported sale, include: Grey Vall«y Collieries, rise of 6d. N.Z. insurance, rise of 3d. Bank of N.Z., fall of 6d. Renown Collieries, rise of 6d. Huddart-Parker, fall of 9d. N.Z. Farmers’ Fertiliser, rise of 6d. The bank.ng group is quiet, with the market for several shares showing a decidedly weaker tendency. Australians of Commerce have eased, following sales in the South earlier in the week at 395, to see sellers this morning at 3Ss with buyers not prepared to lift their offers above 375. A further weakening in New took place yesterday afternoon, when the market dropped 6d on the previous celling price, making a decline of 9d tor the week. Commercials provide one of the bright spots to the group, firming to see sellers at 29s 3d, supported by buyers at 29s Id. * * * Coals continue to attract a fairly nvido range of interest, largely froip speculative quarters. Steady buyers *>f the Hikurangi preference scrip at f>s 6d failed to move sellers below Bs. T’ukemiros are meeting with a consistent demand, steady sales taking "place at 67s 6d. In the miscellaneous section yester-

day’s firmness in the market for New Zealand Farmers’ Fertilisers has been maintained, to culminate last evening in a sale at 21s. Prior to this sales had been put through in the South up to as high as 29s lid. After a long period of neglect Dental and Medicals found a buyer at 9s 6d. but - sellers were not attracted. This scrip was

All Government and local body securities are meeting with a steady demand, 4* per cent, free of income tax Government loans selling freely at par. New Zealand Rural Credit 5 per cent, bonds were quoted on ’Change this morning, making one of the few tfmes quotations for this security have been made public in the knowledge of the writer. On this morning’s middle price the market was 5s below the price at which the bonds can be bought over the counter in the Treasury Office, <£94 10s.

Business yesterday afternoon:—Colonial Sugar, £6O; New Zealand Inscribed Stock, 1939, 4i per cent., £100; Bank of New Zealand, 635; New Zealand Insurance, 475: Renown Collieries, 17s 6d; Grey Valley Collieries, 225; Huddart-Parker, 465; Staples Breweries, 445; New Zealand Farmers’ Fertiliser, 21s; Ohinemliri Mining, 8s 3d; Waihi Mining, 13s 3d. * * # Business this morning:—Reported: Whittome Stevenson, 465: New Zealand War Roan, 1938, 4i per cent.. £IOO.