HEAVIER TRADING

Sun (Auckland), Volume III, Issue 840, 7 December 1929, Page 14

HEAVIER TRADING

Market On ’Change

By

“Noon Call."

THE heaviest Saturday morning’s business for several iveeks was recorded on Change this morning. The brighter tone of the past few days is well sustained.

FLUCTUATIONS Price movements shown by a comparison of sales over the past 24 hours with the price at the time of the previous recorded sales include: British Tobacco, rise of Id. South British Insurance, fall of 6d. Commercial Bank of Australia, rise of 3d. Business on the Auckland Market Transactions on the Auckland market over the past 24 hours have included:— Yesterday afternoon. Commercial Bank of Australia, 26s 6d; Abraham and Williams (pref.), £4 13s; Goldsbrough, Mort. (rights), 5s 6d (two parcels). This morning.—On 'Change: Goldshrough, Mort. (rights), 5s 3d; South British Insurance, 645: British Tobacco, 45s 4d; ditto (Melbourne Register). 45s 3d: Commercial Bank of Australia, 26s 6d; Renown Collieries (Ist pref.). 3s sd; Pukemiro Collieries, 73s fid; Williamson’s Films debentures, £lO2 17s 6d. Market This Morning Although the customary Saturday morning lack of attention to certain stocks was noted on 'Change this morning interest was spread over a • omparatively wide range. An increased number of buyers has come into the market for bank shares, and There ar© signs that the depressing influence from across the Tasman is easing. In the insurance group. South British eased to see two parcels change hands in the call room at 6d below last week’s market. Coals hold very firm. Pukemiros are active at a price which allows a return, based on the latest dividend of approximately £9 10s 6d per cent Little movement is shown in the miscellaneous market; British Tobaccos show increasing activity, mostly as a result of a brighter tone in the Australian market for this scrip. Wilsons Cements are slightly easier.

Canterbury Frozen Meat Losses A net loss for the year of £48,414 is disclosed in the annual report of the directors of the Canterbury Frozen Meat and Dairy Produce Export Co., Ltd. After deducting the amount carried forward from the previous year and adding the dividend paid at the half-year, the balance standing at the debit of profit and loss account is £50,108. The directors propose to transfer the sum of £50,000 from the general reserve fund account to profit and loss account, which will then show a balance of £5,892. It is proposed to deal with this amount as follows* —To the payment of a further dividend of 3 per cent, on preference shares and 2 per cent, on the ordinary shares, which will absorb £5,250, and to carry forward £ 642. North Auckland Farmers’ Depressed The market for North Auckland Farmers’ scrip is weak, with buyers not prepared to come on the open market. Although the market for this scrip is influenced slightly by the general depression, the principal reason for the present weakness is the fact that, the preference dividend authorised by the annual meeting over two months ago has not yet been paid. The company’s finances are apparently being taxed at the moment to meet seasonal advances to clients (the directors stated at the annual meeting that more capital was desired for this purpose), and the present rather unorthodox method of using shareholders’ money has been adopted as a temporary expedient. Indications are that the preference shares are good buying at somewhere around 12s. Although the directors are reticent as to when the dividend will bo paid, a distribution at an early date is almost assured. * * * Dividends Payable Due. Dank of N.Z.—lnterim, Is 4d a share .. Dec. 7 Amalgamated Wireless—B p.c. p.a. Dec. 8 Mount Lyell—final. 2a 9d a share Dec. IS Kauri Timber—3 p.c. .. About Dec. 13 Loan and Mercantile Agency Co.—final, pref.. 2i p.c. and ord.. 5 p.c. .. Dec.