A Healthier Tone

Sun (Auckland), Volume III, Issue 841, 9 December 1929, Page 10

A Healthier Tone

Market on ’Change

THE market opened for tlie week on ’Change this morning with most of the better-class securities meeting with a steady demand. A decidedly better tone is recorded on the lower levels.

Business on the Auckland Market Transactions on the Auckland market during the morning included the following: At the early call. —On ’Change: New Zealand Farmers’ Fertilisers, 22s Cd. At midday today:—New Zealand Farmers/ Fertilisers, 22s Cd. • • • e Managers’ Reports ine managers .report as follow: olden Age.—The drive on Fox’s er has been extended seven feet the week. The leader is six es wide, and is carrying a high ontage of iron and copper pyrites, rood class of country is being met i ickv Shot.—ln the stopes north No. 2 winze the reef has made a •e. each portion being - about 12 es wide. Colours of gold can be in the ore at each breaking clown. ie drive south of No. 2 winze we » started the leading stope. The shows a width of two feet of heavily mineralised ore. The r ery is crushing full time with ten : of stamps. * • * •• ket at Midday ae market at midday showed little ' ement, and only on© sale was reed. There was a tendency for ng strength to weaken, and sellers . ominated in most of the more liar groups. The banking section a case to the point. Commercials, Zealands and New South Wales a g the only shares attracting buyfir quotations.

Coals are a little easier. Pukemiros. which were active last week at 73s 6d. were not quoted. Timbers, woollens and breweries were practically neglected. In the miscellaneous group Farmers’ Fertilisers are active around 22s 6d, a price which shows a return, based on the latest dividend, of approximately £7 2s 3d per cent. Mining is weak and neglected, even Waihis showing less activity this morning. Queensland Insurance Profits After transferring £ 20,000 to Reserve for Unexpired Risks, the revenue account of the Queensland Insurance Company, Limited, for the year ended September. 1929. shows a profit of £ 82,509. compared with £95,869 for the previous year. The usual 10 per cent, dividend, plus a bonus of 21 per cent., went to shareholders, and the sum of £41,484 was carried forward to the next year’s accounts. The company’s investments and cash reserves make a very healthy showing, standing at £1.478.749. almost three times the paid-up capital of £500,000. Interest and rents accounted for the sum of £75,584 in last year’s returns. Dividends Payable Due. Mount Lyell—final. 2s 9d a share Dec. 18 Kauri Timber—3 p.c. .. About Dec. 13 Loan and Mercantile Agency Co.—final, pref.. 24 p.c, and ord.. 5 p.c Dec.