A FREER MARKET.

Star (Christchurch), Volume LXVI, Issue 20649, 25 June 1935, Page 7

A FREER MARKET.

Mortgage Business Better in Dunedin. (Special to the Star.”) DUNEDIN, This Day. The mortgage money market is showing more movement in Dunedin than it was three months ago. A few farming properties in the province are changing hands, but there is an evident reluctance on the part of legal firms to advance mortgages on farm security. Good city security, however, is being accepted readily, current general rates being 4} per cent and 5 per cent for first mortgages. Most transactions are being made at the lower rate of interest, and 6 per cent rules for second mortgages, when accepted leasehold second mortgages are at 7 per cent. Three months ago a great amount of money was lying idle, but lenders are happier now, and the supply is still more than equal to the demand. The freedom of the market is revealed by increased building of city properties. MINING REPORTS. AUCKLAND, June 24. The Mataki return for the week encfed June 23 was 38oz for 134} hours’ work. Goldfields Dredging. The secretaries of the Goldfields Dredging Company, Ltd., report that the dredgemaster did not wash up last week, in view of the absence of solid ground. Euratha Shares. The Sydney Stock Exchange has acceded to the request of the directors of the Euratha Gold Mine, Ltd., to delist the company's shares for another month. YESTERDAY’S SALES. The following sales were completed in other centres yesterday afternoon:— Auckland—New Zealand Bonds, 4 p.c., 1940, £104; 1946, £108; 1949, £109; 1955, £lll 15s; Inscribed, 4 p.c., 1955, £lll 15s; Bank of New Zealand (D mortgage), £1 12s 9d; Auckland Gas, £1 6s 6d; Taupiri Coal, 16s 6d; Dunlop Rubber, 16s 4d; Farmers’ Trading, 7s 2d; New Zealand Newspapers, £1 18s 9d: Gillespie’s Beach, Is 6d. Unlisted; Auckland Farmers’ Freezing (£5 paid), £5, (£1 paid). £1; Woolworths (Sydney), £4 13s 6d; Golden Crown (lid paid), 3s B}d. Wellington—Comm. Bank of Aust., Jss 6a; Rotoiti Timber, 4s 10}d. Unlisted: Woolworths (Sydney), 93s 6d (2), 93s 9d. 94s (late sales, June 22); Procera Bread (ord.), £3 (sale, June 24). Dunedin—Sale on 'Change: Big River, 2s 2d. Sales reported: Bank of New Zealand, £2 10s 3d; Timaru Brewerv, 8s sd. Sydney.—On the Stock Exchange yesterday, despite a slight reaction in some issues from the upward swing of last week, the general investment market remained strong. Afternoon dealings were; Colonial Sugar, £43 12s 6d; Bank of New South Wales, £3l 17s 6d; Comm. Bank of Sydney, £l7 15s; Howard Smith. 14s sd; British Tobacco. 39s 4 Id; Tooth's Brewery, 56s 6d; Dunlop Perdriau Rubber, 16s 6d: Goldsbrough Mort, 29s 9d; Wilcox, Mofflin, 10s lid: Morris Hedstrom. 21s 10}d: Greater J. D. Williams, 6s 9d: Henry Jones Co-op.. 37s 6d: Fairymead Sugar. 40s: Farmers. 25s 9d; Anthony Hordern, 18s 10}d, pref. 23s 3d; Standard Cement., 23s 3d: Australian Iron and Steel (pref.). 23s lirl; Mount Morgan, 36s 9d: Broken Hill Proprietary, 59s 3d; Broken Hill South, 85s 6d: Rawang Tin. 7s 4d: Placer Development. £3l 2s 6d; General Industries, 19s 4 Jd. Melbourne—Dunlop Perdriau Rubber (pref.), 33s 6d: Australian Glass, 41s; Broken Hill Proprietary, 59s 9d.