A Firm Tone

Sun (Auckland), Volume III, Issue 739, 12 August 1929, Page 10

A Firm Tone

Market on ’Change By “NOON CALL” THE week opened on Change this morning with all the better-class securities meeting a very steady demand. < )ne of the features of the market is the steady advance of Farmers’ Trading scrip.

Transactions on the Auckland Market Transactions on the Auckland market during the morning include the following: At this morning's early call.—Reported: Auckland Gas, 24s 2d; New Zealand Insurance, 47s 6d; Farmers’ Trading, 9s; Northern Steam. 14s 3d. At midday.—Reported: Taranaki Oils, 3s lid. * * * Market at Midday The banking group is quiet, several shares showing a slight easing tendency. Nationals of New Zealand, offered at last week’s market price of i)t» 19s 6d. failed to draw buyers above £6 18 s. In the insurance section, A.P.A.’s were not quoted this morning. Nationals were very firm, buyers moving up to 16s 4d to find sellers firm at 116 s 6d. In coals. Renowns were weak, sellers of both issues being unsupported. noth issues of A. J. Entrican were offered at nominal prices without drawing a response from buyers. A further rise was recorded in the market for Farmers* Trading ordinaries; buyers lifting their offers to this morning’s selling price of 9s 3d, but sellers wanted 9s 6d. The market has a very firm tone. Electrolytic Zincs meet with a steady demand on a market which shows a rising tendenev. * * * Farmers’ Trading New Issue Filled The lists for the issue of £IIO,OOO of new capital in the Farmers’ Trad-

ing Company, Limited, closed at the end of last week, a rush of late applications on Saturday morning having to be turned down. The Stock Exchange market registered the closing immediately, and sales of the old issue of ordinaries were made at 9s. This morning, following further sales at 9s outside the call room, buyers moved up to 9s Id. but sellers held for 9s 3d. * * * Farmers’ Fertilisers Steady The market for Farmers’ Fertilisers is steadier, closing this morning with a middle price of 23s 6d. At this price the approximate return, based on the latest dividend, is £6 16s 2d per cent. Even at this price the scrip has certain attractions, as although the company is meeting with considerable competition at the moment and will meet with more in the future, there is an ever-growing market for its output. ❖ * * Dividends Due _ . . , Due. Dominion Investment A, B and C shares . . . . Today. Victoria Nyanza Sugar Co., Ltd. —lnterim dividend of 7i p.c. (Is 0d a share) Aug. 31. Wellington Woollen—lo p.c. p.a. Aug. Bank New South Wales—lo p.c. p.a. (int.) Aug. 27. Standard Insurance—Final dividend of Is 3d a share .. .. Sept. 3. Electrolytic Zinc—G p.c. ord. and pref. (final) Sept. 6. Holden’s Motors—ls a share ord. (final), making 10 p.c. p.a. and S p.c. A and B pref. Sept. 11