Heavy Trading

Sun (Auckland), Volume III, Issue 732, 3 August 1929, Page 10

Heavy Trading

Market on ’Change By ‘‘Noon Call.” A COMPARATIVELY heavy volume of trading on a steady market is recorded on ’Change. One of the features of the market continues to he the keen interest taken in the coal group.

FLUCTUATIONS Price movements, shown by a comparison of sales over the past hours, with the price at the time of the previous recorded sale, include:— N.Z. Insurance, rise of I^»d. * * + Business on the Auckland Market Transactions on the Auckland 'Change over the past 24 hours have included the following: Yesterday afternoon:—N.Z. Breweries (deb.), 28s 3d; Com. Bank of Australia. 30s; National Insurance, 16s 2d; N.Z. Insurance, 48s; Renown Collieries, 17s; Auckland Gas, 24s Id; Kauri Timber, 18s 6d; Colonial Sugar, £ 57 10s; Gear Meat, 445; Alburnia Mining, Is 6d. This morning:—On 'Change—Renown Collieries, 17s (two parcels). Reported—New Zealafld Insurance, 48s; Renown Collieries, 17s: Auckland Gas, 24s Id; Ohinemuri Mining, 10s. N.Z. Insurance Slightly Firmer The market for N.Z. Insurance scrip is slightly firmer and, following sales iit 4Ss, more wanted at that price saw sellers withdraw to 4Ss 6d. At 48s the return is slightly under C* 3 18s per cent, after deducting the Jld dividend due next week. South British scrip was a little easier this morning. * # * Waipa Coals Easier Sellers of Waipa Coals at 15s this morning failed to find support from buyers. Renowns are active in the coal group around 17s. Pukemiros are very firm, with buyers at 71s and no sellers. Taupiris are also in good tone, with sellers hard to locate. Part of the strength of the market for this scrip is due to the decision of the directors to issue the balance of their unallotted share capital, 9,000 £1 shares. They are to bo offered on a pro rata basis

to holders of both the ordinary and pre ferenco scrip.

New Zealand Breweries Firmer The market for New Zealand Breweries has a decidedly firmer tone and, following sales in the South yesterday at S4s 4d, buyers offered 84s 3d on the Auckland market this morning, to sellers withdrawn to 85s. The previous sale of this scrip was reported from Wellington on Wednesday at 83s 3d. Wilsons Cements Show Further Rise Sellers could not be drawn to make a declaration for Wilsons Cements on the open market this morning. Buyers moved up a further 3d to 44s 6d. At this price the return, based on the last dividend, is approximately £4 9s lOd. This company closes its financial year on March 31, and usually pays out its dividends during September and March. Ohinemuris Still Rising The market for Ohinemuri Mining scrip jumped several more points this morning to see sales at par. A move in this direction was indicated in these columns yesterday. This morning’s call closed with sellers asking 11s 6d. Reporting for the period ended August 3, the mine superintendent stated that the construction of the mill is being carried out vigorously, and the work should be completed early next month. * * Calls and Dividends Calls and dividends are due as follow: Dividends— Due. Electrolytic Zinc, 6 p.c , ord and pref. (final) ! Sept. 6 t\.Z. Insurance, lid a share (final) .. .. August 6 Com. Bank of Australia, 4 per cent, p.a. (pref), 15 per cent , p.a. (ord.) August 8 Dominion Investment, 7 p.c. August 9 v ictoria Nyanza Sugar, 72 Calls— CGnt (interlm) August 31 Alburnia—2d a share July 31