Prices Erratic

Sun (Auckland), Volume IV, Issue 972, 15 May 1930, Page 13

Prices Erratic

Market on ’Change

By

“Noon Call.”

FOLLOWING a period of comparatively heavy tradingF . ther V h , as been a . tendency toward slightly easier priels agam on Change; prices, at the moment, are slightly erratic!

FLUCTUATIONS 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: — Commercial Bank of Australia fall of Id. Farmers' Trading, rise of 2d. Wilsons Cement, rise of 2s 9d. » » • Business on the Auckland Market Transactions on the Auckland market over the past 24 hours includeYesterday afternoon: Auckland Harbour Board. 1948, 5J per cent., £99Knglish, Scottish and Australian Bank £6 2s; Union Bank (Melbourne register). £ll 7s 6d; N.Z. Breweries, 52s At this morning’s early call: N.z! Breweries, 525; Commercial Bank of Australia, 20s 8d; National Bank of New 2iealand, £6 6s; New Zealand Insurance, 43s 6d; Farmers' Trading, 8s 3d; Gisborne Sheepfarmers' (debentures), £B2. At midday.—British Tobacco, 38s 6d; ■Wilsons Cement, 42s 6d, A Fluctuating Market Prices are erratic on 'Change at the moment and, although some classes of shares, principally those in sound progressive New Zealand concerns, show a rising tendency, others show a tendency to drop to lower levels again Commercial Banks are easing following the improvement of earlier in the week; other banks also show a slightly easier tendency. The feature of the miscellaneous group is the advance in Wilsons Cement, following the announcement of the results for the year ended March 31 last, and the decision of the directors to pay a bonus. Farmers' Trading ordinaries are moving up, no doubt in anticipation of a good showing in the annual accounts which are due for publication shortly. Mining is neglected. * * * Taxation of Gold Mines Dividends, paid by goid-mining companies in Victoria, and also the proceeds of gold-mining leases will be exempted from taxation as from July 1, 1929, according to a recent decision of that Government. Those interested in gold-mining development consider the Government’s concession marks the beginning of a new attitude toward the Industry, and a full realisation of its importance at this period of financial depression. * * * "Westport Coal interim Dividend The directors of the Westport Coal Company have declared an interim dividend of Is a share, payable on May 30. This is at the same rate as last year.

Mine Managers’ Reports

Mine managers report as follow; Hauraki.— The stope on the cross reef, above the 300 ft level, is now up 40ft, and 30ft in length. No gold lias been seen m the last two stopes. A start has been made to sink on the junction below the level, then an underhand stope wil be carried along under the point where the rich stone was got just above the level. * * * Financing in Bad Times In their report for the year ended T + *, rC £L 3l the -directors of Whitefield, Btd., <the Sydney financiers and investors, state that, while a period of financiai stringency favours such a company as theirs, the running of the business is attended with anxiety because some of the mortgagors find it hard to maintain regularity in the payment of their periodical Instalments, lhis is due to unemployment and other °oo T «f ©oVr Whitefield’s net income, at ±-32,887, shows an increase, and dividends are maintained at 8 per cent, on preference and 15 per cent, on ordinary shares. Australian Glass a A m essage from the head office of Australian Glass Manufacturers, Ltd., announces that the directors have decided to pay the Usual 9 per cent, on the preference shares for the final halfyear ended March 31, and 10 per cent., plus a bonus of 2J per cent., making i-<s3 per cent, for the year on the ordinaries. The dividends are the same as last year. This company is very soundly managed, with a wide spread of interests, and it is confide-ntly expected that there will be a distribution of reserves in some form or other within the next five years. Dividends Due Dalgety and Co.—interim, 5 p.c. Mayls] National Insurance—interim, 4d Bycroft, Ltd.—final, 10 p.c. p.a. May 16. Dental and Medical Supply—annual, 4 p.c May 19. Grey Valley Coal interim, 3 p c May 21. National Bank of Australasiafinal, both issues, 10 p.c. p.a. May 28. Bank of N.S.W.—quarterly,. 2J Yu pc ‘ , *• -* •• -• May 28. Farmers’ Trading—A and B „ pre £;: ~7 P- c - P.a May 31. Burns-Philp—final, 10 p.c. p.a. May New Zealand Paper Mills—final, 7i p.c. p.a May 29. P. and O. Deferred Stock—interim, 5 p.c., free of English tax May. Wilsons Cement—final, 5 p. 0., bonus, 21 p.c. . .. June 4. Mount Lyell—interim, 5 p.c. .. June 23. Faterine Stock Foods—pref., 5 p.c. p.a June. Calls Reliance Loan Co.—pref., 2s 6d a share .. .. .. July 2.