FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 686, 11 June 1929, Page 10

FINANCE & MARKETS

In Good Tone STEADY DEMAND FOR BANKS By “Noon Call.” A HEALTHY tone is recorded in the market for all the better-class securities on ’Change. Interests are widespread, but Banks and Insurances continue to attract a big share of attention.

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 sale, include: Farmers' Trading Co., fall of 2d. Henry Jones, fall of 1s 6d. Taranaki o*ll, fall of 3d. New Zealand Breweries (deb.), fall of 3d. Bank of New Zealand, rise of 6d. Wilsons Cement, rise of 3d. New Zealand Breweries, fall of 3d. f3usine&s On Auckland Market Business recorded on the Auckland market over the past 24 hours is as follows: Yesterday afternoon. —-New Zealand Breweries (deb.), 26s 6d; Bank of New Zealand, 62s 9d; Henry Jones, £1 14s; Taranaki Oil, 4s 9d. At this morning’s early call. On •Change: New Zealand Insurance, 47s fd (two parcels). Reported: Farmers’ Trading (ord.), 8s 6d; Mahakipawa Mining, Bid. At the mid-day call. —On ’Change: Bank of New Zealand, G3s; Wilsons Cement, 41s 9d. Reported: New Zealand Breweries, 72s^ !Waihi Market Weak The market for Waihi Mining scrip Continues weak, and buyers at the parly call dropped back a further 3d pn yesterday’s mid-day offer. With the exception of Mount Lyc-llts, 'Which were - dealt with in the South yesterday at 43s Id, 2d under the last Auckland sale, little interest is taken in minnig shares, and scrip in the smaller development concerns is practically neglected at the moment. * * • Movements At the Mid-day Call Commercial Banks were slightly weaker at mid-day, with sellers quoting 30s 3d. The market for New Zealand;* moved up a further 3d to see sales at G3s, the highest price for this scrip since March last, when the market touched 63s 9d. In the shipping group a buyer came 5n for Devonport Steams at 22s 9d, compared with the last recorded sale, put through in March, at 245. New Zealand Breweries were slightly

weaker, with sellers at 72s 9d, unsupported. Sellers of Sanford ordinaries at 19s, found buyers weaker at 17s 9d. Steady buyers of the preference issue offer par. Buyers of Adair Bros, have moved up above par to 21s, without attracting sellers. Goldsbrough, Morts Improving The market for Goldsbrough, Morts, has a decidedly firmer tone. The scrip was active on the Christchurch market yesterday, when sales were made at up to 51s sd. At this price the return, based on the latest dividend, is approximately £5 J6s Sd per cent. At the early call this morning buyers were offering 51s. Farmers’ Auctioneering scrip is meeting with a steady demand in the loan and agency section, but the shares are fairly strongly held, and sellers are' hard to locate at present market prices. All issues were sought at this morning’s call. , Steady buyers of Wright, Stephenson ordinaries at 24s fail to draw a declaration from sellers. At that price the approximate return, based on the latest dividend, would be £ 5 16s Sd per cent.

Morris, Hedstrom Profits A net profit for the year ended March 31, of £73,662 is shown in the 19th annual report and balance sheet of Morris, Hedstrom, Ltd. (Fiji). To this is added £36,558 brought forward from last year. A final dividend at the rate of 3 per cent, on the preference shares and 4 per cent, on the ordinaries, making 6 per cent, and 8 per cent., respectively, for the year, leaves £15,000 to be transferred to reserves, and £40,435 to be carried forward. The directors report that the position of the company has been strengthened considerably over the past few years, and express confidence in the assumption that the company will continue to earn moderate profits. The last recorded sale of the ordinaries on the New Zealand market was put through in May at 22s 6d. The preference issue saw- sales at 18s 9d. The company carries on the business of merchants, plantation owners, etc., with headquarters at Suva.

TO-DAY’S QUOTATIONS

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

SOUTHERN EXCHANGES YESTERDAY’S SALES Press Association Christchurch. —Australian Dank of Commerce, £1 16s 9d: Bank of Australasia, £l4 15s (three); National Bank of Australasia, £lO 11s; ditto (con,*) £9 12s (tow), £0 11s 6d; Goldsbrough, Mort, £2 11s (two), £2 11s 3d (four); New Zealand Refrigerating (con.), 7s sd: New Zealand Breweries, £3 11s 9d (two), £3 12s; British Tobacco, £2 9s 3d (three); Henry Jones Co-op., £1 14s 3d, £l 14s 6d; New Zealand Farmers’ Co-op., 1939, 6i per cent., £9O (four); Westport Coal, £1 14s Gd; Hume Pipe (Australia), ISs 3d; Goldsbrough, Mort, £2 11s 2d (two), £2 11s 4d and £2 11s 3d (two); Henry Jones Co-op., £1 14s 4d; Mount Lyell, 43a Id; Mahakipawa, Sd; Winding Creek (6d paid). Is 2id (two). Wellington.—Commercial Bank of Australia, £1 10s 4d: Bank of New South Wales. £3l; Union Bank of Australia, £ls 15s; Dalgety and Co., £ls 5s (Melbourne Register); National Mortgage, £4 8s 3d; Electrolytic Zinc dpref.). £1 17s lid; New Zealand Breweries £3 11s 9d; Staples Brewery. £2 8s 6d; KempthorneProsser. £3 15s 6d.

NORTHERN HERD TESTING DETAILED MAY RESULTS (From Our Own CorrespondentJ JDARGAVILLK, Monday. The summary for the period ending May 28 of the Northern Wairoa Herd-testing Association is as follows: Tangiteroria Group.—Number of cows, o, SOS ; average lb. of milk, 255 ; test, 5.70 ; lb. of fat, 14.55. Highest cow: 6151 b. milk, 6.2 test, 38.131 b. fat. Dargaville Group.—Number of cows, 722 : average lb. milk, 2SS ; test, 5.69 ; lb. of fat, 16.41. Highest cows: S2slb. milk, 6.6 test, 54.451 b. fat. Te Kopuru Group.—Number of cows, 555 ; average lb. milk, 248 ; test, 5.66 ; lb. fat, 14.04. Kaihu Group—Number of cows, 3G3 ; average lb. milk, 237: test, 5.42; lb. fat, 12.55. Highest cow: 5251 b. milk, 7.0 test, 36.751 b. fat. Ruawai Group.—Number of cows, 1,083 ; average lb. milk, 257 ; test, 5.61 : lb. fat, 14.42. Highest cow: 5401 b. milk, 6.3 test, 36.721 b. fat. Maungaturoto Group.—Number of cows, 515 ; average: lb. milk, 233 ; test, 5.95; lb. fat, 13.58. Highest cow: S4olb. ; milk, 7.2: test. 60.481 b. fat. Individual Group.—Number of cows, 306 j average lb. milk. 280; test. 5.59: lb. fat. 15.65. Highest cow; 5701 b. milk, 6.4 test, 36.481 b. fat.

Dunedin.—New Zealand Breweries, £3 12s; Staples Brewery. £2 8s 9d (two).

BANKS— £ a. d. £ a. A. Aust. of Commerce. 1 16 3 1 17 Com. of Australia . 1 1ft 1 1 10 3 Ditto (pref.) .. .. 7 7 Com. of Sydney Kng., Scot. & Aust. 0 7 0 0 Nat. of Aust. (con.) 0 New South Wales 50 15 New Zealand k Union of Australia INSURANCE— 15 16 6 ft ift ft 0 10 9 5 2 7 3 2 X ft 3 South British .. •• LOAN AND AGENCY— Abraham and Williams 4 J»algety and Co. .. 0 Farmers’ Co-op. Au<_ Ditto, A (pref.) . . — TB 9 « oldsbrough, Mort . 1 1 Nat. Mortgage . . . Newton King (pref.) N.Z. & River Plate 1 11 1 12 6 N.Z. Guar. Corp. .. — N.Z. Loan & Merc. 125 Ditto (pref.) .. .. K. Auck. Farmers’ 9 Ditto <B pref.) .. 1 o "Wright. Stephenson & COAL— Illkurangi (pref.) .. 0 3 6 ft 7 0 Ditto A (pref.) . . ° Renown ft 3 *Taupiri 5 ft Westport-Stockton . ft 3 2 GAS— Auckland 1 4 1 1 4 4 Gisborne 0 •» SHIPPING— Devonport Steam .. 1 2 9 1 4 0 1 toward Smith .. .. 5 !luddart-Parker 6 Ditto (pref.) .. .. 1 ft 0 Ditto (con.) .. .. 7 Union Steam (pref.) — TIMBER— Bartholomew .. .. 0 IS 0 1 1 6 Kauri Timber . . . - l .eyland-O Brien . . National 0 Parker-Lanib .. WOOLLEN— Kaiapoi ft 13 11 0 14 6 Ditto (con.) .. .. 0 Ditto (pref.) .. .. 0 13 6 Wellington Ditto (pref.) .. .. BREWERIES — C. L. Innes (pref.) 1 0 0 — N.Z. Breweries . . . J, Staples — - 9 MISCELLANEOUS— Auck. Amuse. Park 0 ft G ft 2 ft Ditto (pref.) .. .. Aust. Iron and — 0 12 0 Steel (pref.) .. .. 1 1 6 1 2 0

Australian Glass 2 10 6 — Booth, Macdonald (ord.) 0 1 1 Ditto (pref.) .. .. 0 fi British Tobacco 0 Bycroft, Ltd 1 11 Colonial Sugar . . . . 58 5S Dominion Pictures . 1 0 r» Ditto (pref.) .. .. 1 0 Donagliy's Rope Dunlop Rubber . .. Electrolytic Zinc (ord.) 1 15 Ditto (pref.) . . . . 1 17 Farmers’ Trading .. 0 Ditto A (pref.) .. 16 Ditto, B (pref.) .. 0 13 0 15 Fuller’s Pictures 1 Gear Meat 0 Grey and Menzies . 0 10 9 Hayward’s Pictures 1 K.M. Arcade (pref.) 1 1 0 N.Z. Drug 15 1G Lewis Eady (ord.) 1 1 Ditto (pref.) .. .. 1 0 0 Milne and Choyce . 1 6 Ditto (pref. > .. .. 1 6 3 .Ditto, B (pref.) .. 1 6 3 Ditto (deb. stk.) 1 6 3 1 6 N.Z. Farmers’ Fert. 1 t 6 1 N.Z. Paper Mills . . 0 19 6 N.Z. Refrigerating (con.) 0 7 Robinson Ice Cream 1 3 0 1 0 Sanford. Ltd 0 17 9 0 19 0 Ditto (pref.) .. .. 1 0 0 Sharland and Cp. .. 1 0 Ditto (pref.) .. .. 1 0 6 S. R. Maxwell & Co. r» Taranaki Oilfields . 0 4 0 5 0 Thames Theatre 0 10 0 Tonson Garlick . . 0 6 Victoria Nyanza Sugar 5 Wilsons Cement 2 1 6 2 2 0 MINING— Alburnia (2s 8d pd.) 0 0 7 0 1 9 Moanataiari (con.) . 0 6 Lucky Shot (4s pd.) 0 1 n 0 Ditto (con.) .. .. 0 0 6 0 1 0 Occidental-Una (2s paid) 0 0 0 0 7 Ohinemuri (ord.) 0 s 6 Waihi 0 12 7 Waihi Grand June. 0 0 84 0 0 11 Mount Lyell 2 2 9 2 3 6 DEBENTURE* — Auckland Gas. 1952. 95 0 0 Auckland liar. Bd., 5 per cent 98 0 0 Ditto, 5} per cent. 99 0 0 Ditto, 1947, 51- p.c. 100 0 0 102 0 City of Aucklana, 1940. 5J p.c99 0 0 100 0 0 1943. 54 p.c 101 0 0 Auck. Hos. Bd., 54 100 0 0 101 10 0 Borough .of Devonport. 6 p.c., 1963 103 10 0 Borough of Mount Eden, 6 p.c 104 0 0 N.Z. Breweries . . . . 1 6 4 Gisborne Sheepfarmers — 98 0 0 GOVERNMENT BONDS — War Loan, 1938, 44 . 99 15 0 Ditto, 1939, 44 p.c. 99 15 0 Ditto. 1933. 5J p.c. 99 b 0 Ditto, 1S36. 54 p.c. 101 5 0 — INSCRIBED STOCK — War Loan, 193S, 44 100 0 Ditto. 1927-41. 54 . 99 0 Ditto, 1933. 54 p.c. 99 ft Dito, 1933. 54 .. 101 0 Ditto. 1936, 54 .. 101 5 0 —