A Healthy Market

Sun (Auckland), Volume III, Issue 662, 14 May 1929, Page 10

A Healthy Market

INCREASED ACTIVITY By “Noon Call.” AVERY’ healthy volume of business was recorded on ’Change this morning.' Increased activity has been recorded in scrip which has been more or less idle and neglected for the greater part of the past twelve months.

FLUCTUATIONS Price moverr>ents, shown by a comparison of sales over the past 24 hours with the price at the previous reca ded sale, include: Auckland Gas (ord.), fall of 2d. Mount Lyell Mining, fall of 3d. N.Z. Paper Mills, rise of 7d. Commercial Bank of Australia, fall of Id. Union Bank of Australia, fall of Is. Auckland Gas. both issues*. were ;i< tive on ’Change this morning, the market easing 2d on last week. At midday buyers left the ’Change offering 1' is to sellers’ quotes of 24s 6d. Kauri Timbers are very firm, with middle price of 19s 6d, but the scrip, at the moment, appears strongly held and sellers refuse to break 20s on the open market. Parker Lambs, with the annual report and balance sheet due this week, are depressed and sellers at 17s 9d are not supported. * * * Tn the miscellaneous group Kempt borne Prosser’s New Zealand Drug are active in the South on a market • rm at 755. Sellers refrain' from making a declaration on the Auckland market. New Zealand Paper Mills continue to show an improvement, and the scrip has been active at 19s 6d, < ompart'd with a market at 18s lid little more than a week ago.

I Business yesterday afternoon.—Wil- ; sons Cement, 42s 3d; N.Z. Paper Mills, j 19s 6d; Waihl Mining, 12s 7d: Union Bank of Australia. £ls 9s. * * * Business at this morning’s early call. —Reported; Booth Macdonald (ord.), Is; N.Z. Paper Mills, 19s 6d. On Change: Com. Bank of Australia, 30s 1d (six parcels); N.Z. Inscribed Stock, 1938, 61 per cent., £99 17s 6d. * * * Business at midday.—On 'Change: Union Bank, £ls 9s; A.P.A. Insurance Co., 10s 3d: Auckland Gas (ord.), 14s 3d (two parcels); ditto (pref.), 18s 3d; Mount Lyell Mining, 64s 3d. ** ■ * A company which receives occasional quotation on the- Auckland ’Change, but which seems to merit greater attention, is Anthony I-lorderns. This concern has registered steady progress since it was formed into a public company three years ago and, apart from building up a reserve account of £60,000, this year the third and final sum of £20,598 of flotation expenses was written off. There is every likelihood that the dividend of 8 per cent, on the ordinaries will show a gradual increase in the future; progress over the past three years justifies that forecast. On the present market in the vicinity of 265, the return on the ordinaries is in the.vicinity of £6 3s Id per cent.

THE DAIRYING INDUSTRY PAYMENTS TO SUPPLIERS The • Cambridge Co-operative Dairy Company has paid out for butter-fat supplied to the end of April the sum of £232,000 this season, against £197,000 for the cori’esponding period last season, an increase of £34,900. For the April supply the company will advance £14,300 on the basis of Is 4a a lb. butter-fat for both butter and cheesy, against £13,900 for April last season, when the rate was Is 3id a lb. for butter-making and Is 5d a lb. for cheese. The company’s supply last month shoYved an increase of 6 percent. over that for April, 1925. The pay-outs by the Northern Wairoa Co-operative Dairy Company for April and for the season to date show a considerable increase over those of last season. The figures are:—Butter-fat supplied: April, 1929, 259.0641 b.; April, 1925, 235,3031 b.; increase. 23,7601 b. Pay-out: April, 3 929, at 3s 5d a lb.. £18.060 7s 9d; April, 1925, at Is 3d a lb.. £14,730 19s sd; increase, £3,329 8s 4d. Pay-out for season to date, £259.640 6s 9d; season to April, 3 927-28, £219,105 15s; increase £40,534 11s 9d. It is estimated that Hjhen the final figures are made up at the end of May the pay-out will be in the vicinity or £250,000, and the output of butter just under 3,000 an easy record in the history of the company’s operations.