Australian Influences

Sun (Auckland), Volume IV, Issue 1020, 10 July 1930, Page 11

Australian Influences

Market on ’Change

By “Noon Call.”

CONFIRMATION of fears relative to an all-round increase in taxation in Australia lias been followed by a further drop in prices for shares in Australian companies. Although a steady volume of business is passing, the market for anything but shares in sound New Zealand companies and giltedge investments is weak.

mi iiCTUATIONS Price movements, shown by a mpaP i son of sales over the past 24 hours with the price at the Jime of the previous recorded sale, include: South British Insurance, fall of 3d g an k of New South Wales, fall Mount Lyell (rights), fall of 3d. Waihi Mining, rise of Id. Bank of Now Zealand, rise of 3d. British Tobacco, rise of 2d. 4 Wilsons Cement, fall of 9d. • • • Business on Auckland Market Transactions on the Auckland marj.j?t o ver the past 24 hours have included the following: Yesterday afternoon: South British Insurance. 39s 3d: Waihi Grand Junction. 2s: Mount Lyell (rights), 3s. At this morning’s early call.- —Bank of New South Wales, £3B 7s 6d: Waihi Mining. 14s 3d; Mount Lyell (rights), 2s 9cl. At midday.—Commercial Bank of Australia. 21s Id; ditto (pref.), £6 12s; Bank of New Zealand, 57s 6d; British Tobacco, 36s 9d: Hill and Plummer, 21»; Sanford (pref.), 19s; Wilsons Cement, 435. 0 0 * Market it Midday Commercial Banks met with a steady demand at 21s Id; Bank of New South Wales shares are a little weaker, with sellers at £ 3S ss, compared with sales

recorded early in the morning at £3S 7s 6d. Farmers’ Fertiliser are very firm. * Robinson Ice Cream are firmer, with buyers at 25s 3d, compared with several sales last week at 255, a price which allowed an approximate return, based on the latest dividend, of 8 per cent. Wilsons Cement are weaker. omm Electrolytic Zinc Dividend Cable advice has* been received by the Auckland Stock Exchange that the directors of the Electrolytic Zinc Company of Australia. Ltd., will recommend a final dividend for the year ended June 30 on both ordinary and preference shares at the rate of 8 per cent, per annum. The interim dividend paid last March was at the rate of 12 per cent, per annum. The total distribution for the year, therefore, is 10 per cent., a reduction of 2 per cent, on that made the previous year. * m m Dredging For Gold A message from Dunedin states that, the running trials of the machinery of -the Golden Terrace Extended Company’s dredge on the Sliotover began on May 27 and were continued for several weeks, off and on. The dredge is now quite ready to be set to work. The company’s claim stretches to the mouth of the Shotover and the present position of the dredge is four or five miles up the river. Dividends Payable Farmers’ Fertiliser Co.—B p.c. Aug 2 Nat. Bank of New Zealand—final, 12 p.c. p.a July N.Z. Insurance, final of Is a share . Aug. 5