FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 689, 14 June 1929, Page 10

FINANCE & MARKETS

Price movements, shown by a comparison of sales over the past 24 hours With the price at the time of the previous recorded sale, include: Devonport Steam, fall of Is. N.Z. Guarantee Corp., rise of sd. Auckland Gas, rise of 2d. Australian Iron and Steel (pref.), rise of Id. • • * Business On Auckland Market Yesterday afternoon: New Zealand Guarantee Corporation, 9s sd; Auckland Gas, 24s 4d (two parcels); Devonport Steam Ferry, 235; Australian Iron and Steel (pref.), 21s lOd: Taranaki Oil. 4s 3d; Victoria Nyunza fcSusrux*. 46s 4d. At the midday call.—On ’Change: Taranaki Oil. 4s 3d. V/aihi Crushing Returns The market for Waihis continues weak, buyers valuing the scrip for open quotation at 12s lOd at the early call this morning. Returns released t>y the company for the period ended •Tune 1 show results at the Waihi mine to have been approximately 34s 3d a ton of ore crushed. The yield was higher at approximately 5Ss 8d a ton for the Junction area; but owing to the comparatively small tonnage handled there, the average for the period over both fields was approximately 35s Id. Tui Gold Mining Company An addition to the development concerns operating in the Thames district is the Tui Gold Mining Comwhich has been formed to work the Karaka Creek (Thames) property, previously worked by the London arid Globe Corporation of 30 years ago. Three reefs of a promising nature Mere met with by the old company, and these are still in practically a virgin state. Mr. L. G. P. Spencer lias been been appointed chairman of directors of the concern. Mr. j. w. Nlchol secretary, and Mr. \V. Moorcraft mine manager. It is intended to start active development work without delay.

A Firm Market Movements On ’Change By “Noon Call.” PRICES for most of the better-class securities continue on comparatively high levels. The volume of business remains restricted to within a small compass.

Guarantee Corporations Improve A further sharp advance in the market for New Zealand Guarantee Corporations took place yesterday afternoon, when sales were made up to as high as 9s Sd in the South. The Auckland market strengthened in sympathy, and sales were made at 9s sd. This morning buyers at 9s 4d failed to attract sellers on to the open market. At 9s Sd the return, based on the latest dividend, is approximately £6 17s lid pei’ cent. This company does not close its financial year until August. An interim dividend at the rate of 8 1-3 per annum was paid in March last. Movements at the Midday Call An exceptionally quiet tone was registered at the midday call. Only one sale was put through. Banks and insurances met with a steady inquiry, but there was no life in the market. A slightly firmer tone is being registered in the coal group, especially in regard to scrip in West Coast South Island concerns. Buyers offered Id above the latest market price for Grey A alleys; Westports are sought at 34s 6d, with buyers holding for 3Gs; even W estport Stocktons show increased strength. The timber group is weak, and practically neglected. Sellers of Kauris at 20s are unsupported; holders of Leyland-O’Briens dropped their quotations to 335, but buyers were not attracted. New Zealand Breweries, which were active on the Christchurch market yesterday at from 71s to 72s 2d, were sought at 71s 9d this morning. Dunedins, which were dealt with in the South yesterday at 30s, were sought at 29s this morning. Little movement is registered in the miscellaneous group. Sellers of Wilsons Cements have withdrawn following sales yesterday at 425; buyers offered 41s 9d at midday. Steady buyers of Adair Bros, fail to attract sellers. Gear 'Meats are very firm, buyers moving up to 42s 6d. "Mount Lyells have a slightly weaker tone, sales taking place in the South yesterday at 425, a drop of 2s Id over the week.

The Wingatui lifts cargo at Duneuin on Monday, thence Oamaru, Timaru, Lyttelton, Wellington, arriving at Auckland in about ten da vs’ time Tho Waikouaiti was loading at Timaru yesterday, thence Lyttelton V, 1 . ld . Bicton, arriving at Auckland on Wednesday or Thursday next The Ivurow is loading at Adelaide at the moment, thence Edithburg, Waland . Melbourne, arriving at direct about the end of TiJnf -Kfiapoi loads at Melbourne and I-lobart toward the end of the month for the Bluff, Dunedin, Lyttelton, Well - lr.gton and Auckland. The vessel is July at thiS port about middle of AUSTRALIAN PRODUCE (Lnxtcd P.A.—By Telegraph — Copyright) SYDNEY, Thursday. are sl + . is , lif Gess. Prices trucks at Sydnev y Stat,ons * 4a 3 i d ex Klour.— £U 10s. Pollard.— £S. Bran.— £7 6s. £13 Ot los OeS ' —TaSmanian ’ £l7; Victorian, Onions.—Victorian, brown, to £l4 Oats.—White, 4s Sd. ' Maize.—ss 6d. Reed. 9.25 a.m. MELBOURNE, Today. Wheat. 4s sd. Klour, £lO 15s to £ll Bran, £7. Pollard, £7 10s. Oats, 3s 7d to 3s Sd. (Barley, unchanged. Maize, 5s 7d to 5s Sd. PUKEKOHE STOCK SALE i . (From Our Own Correspondent) ' PUKEKOHE. Thursday. Springers met with keen demand at ! Alfred Buck la ml and Sons sale at Puk< : - kohe today. Few beef or store cattle ! , were offered. There was a .smaller yard- I mg of pigs than usual. Prices were good. Quotations are: Dairy-—Best springing cows and heif- j ers close to profit sold from £l3 10s to £ls: others, £lO 10s to £l2 10s: back- j ward. £5 10s to £8 15s. Beef.—Fat steers. £l2 5s to £l3 10s; i heavy fat cows and heifers, £8 to £lO i 15s; lighter sorts, £5 10s to £B. Stores. —Empty cows and heifers, £4 5s to £5 15s; store cows and boners, £2 ! 15s to £5; bulls, up to £7 2s 6d. Pigs.—Heavy baconers, £3 15s to £4 i 4s: medium baconers, £3 to £3 7 0s; : heavy porkers, £2 8s to £2 14s; light i porkers. £1 15s to £2 2s; stores and good j slips, 18s to £1 7s; weaners, 6s to 12s. MINING NEWS OCCIDENTAL-UNA.—The manager re- I ports: Storing the No. 2 reef, north and i ; south, is still progressing favourably. The j ! reef is still averaging about five feet in j j width at each end. and is looking well, j with colours of gold still showing. In ! about a week's time we will be trying the j | hanging wall which we found lately. 1 i All the quartz is being saved for crush- ; j ing. which will be resumed about the j end of the week.

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