FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 642, 19 April 1929, Page 10

FINANCE & MARKETS

Market Buoyant

Keen Demand for Banks

By

“Noon Call.”

HEALTHY trading is recorded on 'Change with the bank ing group attracting a wide range of interest.

FLUCTUATIONS:-

Pr ice movements shown by a comparison of sales over the past 24 hours, when compared with the price at the time of the previous recorded sale, include: — N.Z. Frmers' Fert., rise of 3d. Bank of Australasia, fall of 6d. One of the features of the market on ’Chang© at the moment is the very keen demand for banks. Commercials of Australia are the only shares in the group which show any outstanding firmness, however, recent higher levels in the market for this scrip being well maintained, with sellers showing little inclination to quit. Buyers are in for practically all the shares on the list. The insurance group is quiet and, generally. idle. A feature of the market in this group this morning was the improved demand for A.P.A.’s, buyers moving up to 9s without attracting a declaration from sellers. Although a buyer or a seller can generally be found for these shares, there is mostly a fairly wide margin between ideas of values, and, even across the Tasman, where the company’s head office is situated, sales are not an every-day occurrence. The loan and agency group, with the market forced to levels upon which

the prospect of high immediate return is not bright, is only receiving nominal attention. New Zealand and River Plat© scrip, which was dealt with yestei'day up to as high as 335, was easier this morning. L)algety’s are meeting with a very firm demand. The better demand for Kauri Timbers is sustained. The speculative interests, generally, are giving greater attention to the whole group, and buyers are on the market for shares in all the better-known timber concerns. In many quarters it is felt that the market has reached bedrock, and that better times must come f»*r several of the concerns having a wide range of interests. Kauris aie in this group. Business vesterdaj* afternoon: —National Bank of Australasia (eon.). £9 12s 6d; Sanford. Ltd. (pref.), 20s 3d; Ohinemuri Mining, Ss 3d: Auckland Gas (urd.). 24s 3d; New Zealand and River Plate, 32s 9cl and 335. Business at, this morning’s early call: —On ’Change: New Zealand inscribed Stock. 1933, 55 per cent.. £lOl 3s: Kauri Timber, 17s Sd: New Zealand Farmers’ Fertiliser. 21 § 9d. Reported: Alburnia Mining, Is lOd Business at mid-day:—Bank of Australasia. £l4 6s 6d: New Zealand Refrigerating (ord.), 15s 6d; Miln. j . and Choyce (deb. stock), 265.

TO-DAY’S QUOTATIONS

Closing quotatoins at to-day’s mid-daycall were:— Sellers. Buyers.

Sellers. Buyers.

SOUTHERN EXCHANGES

YESTERDAY’S SALES Press Association Wellington. —English. Scottish and Australian Bank. £8 J7s (three parcels); Wellington Meat Export. 12s Gd (two parcels); Bank of Australasia. £l4 13s Scl ; Staples and Company, 43s 9d. Christchurch.— Australian Bank of Commerce, 365: Commercial Bank of Australia, 30s Id (five parcels): Staples’ Brewery. 45s 6d: Dunlop Rubber (cum. div.), 2Ss 9d: Henry Jones Co-operative, 365; Mahakipawa Is Id: National Bank of Australasia (£5 paid). £9 12s 6d; New Zealand Refrigerating (10s paid). 7s 3d; A'j per cent. Inscribed Stock, 1938, £IOO.

KEEN DEMAND FOR WOOL

DUNEDIN SALE Press Association DUNEDIN, Thursday. The fourth wool sale of the season was held to-day. when a catalogue of 3.684 bales was offered to a full attendance of buyers representing all the world’s consuming centres. A good clearance was effected. The offering was composed chiefly of late shorn wools, which in most cases were heavy in condition and carrying seed. Taking these facts into consideration the sale must be considered a very satisfactory one. At times bidding was quite animated. Compared with the March sale tine wools may be quoted 2d per lb easier, while good crossbreds showed little if any change. Prices for the better style of pieces were easier by id per lb. while medium and inferior quality elicited good competition from scourers at prices equal to last sale’s rates. There was a good demand for crutchings, and these, with locks, sold well. BRADFORD TOPS MARKET /Australian and X.Z. P.css Association) Fve i cd n ’ m RON DON. Thursday. Jn rne Frr>dforel tops market there is no now business • ~9 U °^£ tlo 12 : 4?d: 6« S. 56 s. •-d; 40’s, 2-’d.

WAIHI GOLD MINING COY.

The following information has been eabled to the London office of the TVaihi Goldmining Company:—

"For the period ended April 6. comprising 195 crushing days, 15,422 tons of ore were crushed for a result of 5,041 fine ounces of gold, and 30,500 fine ounces of silver. This includes 738 tons mined from the Grand Junction area, which yielded 3450 z of gold and 5,1760 zof silver. “No. 9 Level.—Driving north-east from Bull’s crosscut on the north loader, the lode has been crosscut at 50ft, the full width being 135 ft, and assay value 40s 9d a ton. “No. 10 Level.—Martha lode: At 40ft down the Cow winze a crosscut was driven north 35ft across the lode, and measuring from the south wall the first 27ft is high grade ore. The last Sft is of little value. WAIKATO HORSE SALE The New Zealand Loan and Mercantile Agency Co.. Ltd.. Hamilton, reports: “We held a horse sale at Ohaupo yestetrday, when we submitted SO horses of' all classes. There was a strong inquiry for medium draughts and farm horses, and workers of this class sold exceptionally well. Young medium draughts with trials realised from £2B to £36: four to six-year-old hoi-ses, broken to wagon and farm work, £25 to £33: more aged draughts, £l7 lO.s to £23; useful aged farm horses, £lO 10s to £IG 10s: cobs, £3 to £«.” CHICAGO WHEAT MARKET (Australian and X.Z. Press Association) Reed. 9 a.m. CHICAGO, Thursday. Wheat. —May, l dollar 17 1-S cents a bushel: July, 1 dollar 21 cents; September. 1 dollar 24 cents.

£ d £ BANKS— Aust. of Com. .. 1 16 3 1 15 0 Adelaide 10 6 Australasia It IT 6 14 15 Com. of Australia . . 1 10 4 1 10 0 Ditto (con.) 0 14 0 Ditto (pref.) . . . . Eng., Scot. Aus. s IT s IT National of N'.Z. 0 0 0 Xational of Australasia (con.) 0 13 3 11 r, New South N\ ales . . 51 6 New Zealand . . . . 0 Ditto <D Mort.) . 1 s 6 Queensland Xational 9 12 G L nion of Australia . 15 10 6 — INSURANCE— — 0 :» 0 Xational .. .. .. 0 16 0 16 4 Xew Zealand .. .. 0 2 6 Queensland S 0 South British .. .. 6 6 Standard — 3 4 G LOAN AND AGENCY— Abraham and Willtams (pref.) — 4 0 Dalgety and Co. .. 15 12 6 Farmers’ Co-op. Auc. 10 0 16 0 Goldsbrough, Mort . 14 13 Xat. Mortgage 4 0 Newton King (pref) 1 13 6 1 12 X.Z. Guar. Corp. .. 0 !> 0 0 S s X.Z. Loan and Mer. 120 0 0 123 0 0 X. Auck. Farmers' Co-op, (ord.) 0 6 Ditto, B (pref.) .. 0 12 6 0 10 0 COAL— Grey Valley 1 3 6 1 2 9 Hikurangi — 0 2 G Ditto (pref.) .. .. 0 8 0 0 Ditto A (pref.) .. 0 0 4 9 Fukemiro Renown 0 IS 0 0 16 9 Ditto (pref.) .. .. 0 0 10 Taupiri • . . 1 b 3 1 6 Ditto (pref.) .. .. 1 3 0 NVaipa (ex diw) 0 11 f. >\ estport-Stockton 0 0 11 Ditto (pref.) .. .. — 0 • G CAS— Auckland 1 4 6 1 4 1 Ditto (con.) .. .. 0 IS 4 0 IS 1 Gisborne 0 13 6 0 10 G SHIPPING— Devon port Steam .. 1 4 ?, — Howard Smith .. 1 6 J luddart-Farker . . 6 4 9 Ditto (pref.) .. .. Ditto (con.) . . . . 0 4 0 P. and O. (def. l 6 Union Steam (pref.) — 1 6 TIMBER— Bartholomew .. .. 1 1 K 0 IS 0 Kauri Timber .. .. 0 IS 0 IT 1 14 c. 1 13 Xational .. .. •• .. 9 0 0 Parker-Lamb •• 0 13 0 — WOOLLENKaiapoi 0 14 6 14 Ditto (con.) .. .. Ditto (pref.) .. .. 0 17 0 13 I'RF.WERIES— C. U. Innes (pref.) 1 0 0 X.Z. Breweries J. Staples — 2 *> 0

MISCELLANEOUS— Auck. Am us. Park . 0 3 0 Ditto (pref.) Aust. Iron and Steel 0 13 0 — (pref.) 1 1 1 1 0 Australian Glass S British Tobacco s 0 S Bycroft, Ltd 1 12 9 Checker Taxi .. .. 0 1 Colonial Sugar . . . . 60 0 Dominion Pictures . I 6 Ditto (pref.) .. .. 1 1 C Donashy’s Rope . . T 13 • Farmers' Trading . Ditto, A (pref.) . 0 17 Ditto, R (pref.) . 0 34 Gear Meat 6 Grey & Menzies 0 10 Hayward s Pictures 1 1 1 Henry' Jones . . . . 1 16 6 11.M. Arcade Theatre (pref.) Holden's Motors 1 Kempthorne Prosser Lewis Eady, Ltd. — •* 10 0 0 19 Milne and Choyce 1 Ditto (pref.) .. .. 1 b 9 1 9 Ditto (deb. stock) 1 1 X. V. Farmers Fert. 1 1 9 1 1 N.Z. Paper Mills . . 0 IS 3 Ditto (con.) .. .. 0 5 0 2 Robinson Ice Cream 1 6 Sanford, Ltd 0 19 0 0 18 Ditto (pref.) .. .. 1 0 1 0 0 0 Thames Theatre Co. 0 \\ hittoin# Stevenson 10 0 4 \\ ilsons Cement — 2 MINING— Alburnia (2s 8d pd.) 0 O 0 0 l 7 Moanataiari (paid) . 0 1 4 Lucky Shot (4s pd ) 0 0 Maoriland (con.) 0 9 6 (2s paid) . . . . . 0 0 0 Ohinemuri (ord.) 0 S 9 0 8 Ditto (pref.) .. .. 0 0 ft Waihi Grand June. . o 0 10 Mount Lyell 2 4 3 2 DEBENTURES — ** 0 0 Ditto, 1335, 6i p.r. — 103 0 0 100 0 0 Ditto, 0 p.c City of Auckland. — 103 0 0 1010. ok p.c. 00 0 0 Ditto 1043 5J p.c. 100 0 0 Auck. Fire Board. 6 101 0 0 Bor. Mt. Eden, 6 p.c. 103 0 0 X.Z. Breweries .. .. 1 6 1 6 Gisborm* Sheepfarmers 97 10 0 9o 10 0 GOVERNMENT BONDS War Loan, 1038, 41 100 0 0 00 10 0 Ditto, 1039. 4 ], p.c. 99 10 0 Ditto. 1033, 5* p.c. 99 0 Ditto, 1033, 51 p.c. 101 10 0 101 6 Ditto, 1936, 51 p.c. . — 101 5 0 INSCRIBED STOCIi — War Loan, 1938. 41 100 3 6 — Ditto. 1939. 41 p.c. too 6 — Ditto. 1033. o\ p.c. 99 0 0 Ditto. 1033, 51 p.c-. 101 0 0 Ditto. 1936, 51 p.c. 101 12 6 101 5 0