Heavy Trading

Sun (Auckland), Volume III, Issue 676, 30 May 1929, Page 10

Heavy Trading

SOUTHERN MARKET ACTIVE

By

"Noon Call.”

ALL the better-class seeurii demand on ’Change. On at the moment is the partieuli FLUCTUATIONS Price movements, shown by a comparison of sales made over the past 24 hours, with the price at the time of the previous recorded Mahakipawa Mining, fall of I|d. New Zealand Insurance Stock, fall of ss. Milne and Choyce (deb. stock), rise of 2d. Auckland Gas (ord.), fail of Id. N.Z. Guarantee Corp., rise of 1d (sale at 9s 2d in Christchurch yesterday). • * « Business yesterday afternoon: City of Auckland, 1940, 51 per cent., £99 ss: Staples Breweries, 48s: Milne and Choyce (deb. stock), 26s 3d; Lucky Shot (con.), lOd; Mahakipawa, 102 d. Business at this morning’s early call: *>n 'Change—Auckland Gas, 24s Id; Moanataiari Mining (con.). 2d; New Zealand Inscribed Stock, 1935, 42 per cent., £99 15s. .Reported—Mahakipawa Mining, lOd. * * # Business at mid-day:—Reported: AVaihi Mining, 12s lOd: Electrolytic ( Zinc (ord.). 36s 6d; Queensland Insurance, 655: X.Z. Guarantee Corp., 9s 3d; X.Z. Breweries, 68s 102 d. * * * The banking and insurance groups M*e very firm, most shares meeting with a steady demand. A.P.A. Insurance shares are sought at 10s 6d, with sellers holding for 11s. <S * * New Zealand Farmers* Fertilisers arc slightly easier, and, following recent at 21s 9d, sellers offered more at

ies meet with a very firm ; of the features of the market irly heavy trading on ’Change. !3d under that figure at mid-day. At ! 31s 6d the approximate return is £ 7 8s 9d per cent. j Sellers of Taranaki Oils have with- : drawn, leaving buyers in at ss. The j report from Gisborne that the comi pany had almost reached its first obj jective in its second Morere well, and | that there was- a strong flow of gas coming up the bore, has evidently had something to do with the increasing strength of the market. Greater strength is shown in the market for both issues of Lewis Eady shares. Steady buyers for the nreference, at 18s Gd, the last recorded market price, fail to attract sellers below par. One of the reasons for the weakness of this issue over the past few months has been the fact that there have been two large estates on the market. This lias had a bearing effect jls the trustees have apparently been desirous of cleaning up their estates without too much regard to supply and demand.

Devonport Steams are idle, and sellers at 24s are unsupported. The last recorded sale of this company’s scrip was made during the closing week of March. No doubt the market is influenced to a certain extent by the talk of a harbour bridge. Profits for the year ended April 30 are shown at last year’s rate, and the usual 7& per cent, dividend will go to shareholders, leaving £554 to carry forward. One of the bright spots in the directors’ report is the forecast that something may be expected from the company’s subsidiary, the North Shore Transport Company, at the end of next year.