SOUTHERN EXCHANGES

Auckland Star, Volume LXIX, Issue 120, 24 May 1938, Page 4

SOUTHERN EXCHANGES

TO-DAY IN CHRISTCHURCH. MARKET STEADIER. N.Z. BREWERIES WEAKER. (By Telegraph.— Special to "Star.") CHRISTCHURCH, this day. \ esterday morning's panic selling on Exchange lias received a check, and business to-day opened on a steadier level for metal and Australian industrial shares, though signs of definite recovery- are still lacking. lwo classes of shares, however, were heavily _ marked down. Xew Zealand Breweries confirmed the disappointment with wlucli the market heard-the dividend announcement, and business at £2 3/3 was at a reduction of 1/9. Kaiapoi Woollens have been quoted at easy rates for some time, but an odd parcel sold to-day brought a lower rate than market quotations suggested. The price of 10/2 was a reduction of 1/10, compared with a month ago, and made a later selling quotation of 12/ seem very wide. Investors were not particularly interested in banking shares, for there was only a little more attention paid them than yesterday. In breweries the markets, apart from New_ Zealand, included a buying offer of £1 7 3 for Swans and a selling limit of £2 14/ for Tooth's. Industrials generally looked stronger. Buyers for Tobaccos offered £2 7/7 and for Broken Hill Proprietary £3. Dominion Builders' Supplies jumped to 4/, compared with 3/ paid a month ago. Radio (1930) had inquiry at 17/6. G. J. Coles sold actively at a rise to £4 3/, with more wanted at Id lower. In the mining class a fractional easing in Grey Rivers brought sales and further sellers at 12/3. Australian issues were almost unaltered from yesterday, though Morgans seemed likely to recover, finishing with sellers at 8/1. In the unlisted section Ballins Breweries looked better, buyers for the 15/ paid shares offering 14/, and Selfridges (Australasia) had selling offers at £1, and Selfridges (New Zealand) at 16/9. SALES RECORDED. (By Telegraph.—Press Association.) WELLINGTON.

M«*i<lny.—National Hank of New Zealand £- 3-/3; South British, 4: 2 7/3: West port, Stockton (prof.). 0/11: Consolidated Brick, 9/: Taranaki Oil, S/10 ; Inscribed stock, 15/11/38-52, 3J per cent, £102 5/ (3 parcels). Tliis Day.—Morning call: South British Insurance. £2 7/3; Taranaki Oil. 8/!); Wool worths (rights), 3/10; Farmers' Trading. £ 1 0/6. Noon Call.—Si per rent Stock, 3/39/43. £ 100 5/ ; 25 per cent Stock, 1938-52, £102 5/; Bankers and Traders' Insurance, £1 10/1 ; Mount Morgan, 8/. CHRISTCHURCH. Monday.—National Bank of New Zealand. £2 12/3: Broken Hill Proprietary, £3; Electrolytic Zinc. £1 IS/11. £1 18/9(pref.), i; 2 2/0 (2 parcels), £ 2 2/7; Wilsons Cement. 17/; Mount Lvell, £1 .*?/<)• Mount Morgan. 8/1, 8/; Broken Hill South'. 7/0 ; No>th Broken Hill. £2 1/3, £2 This Day.—Kaiapol Woollens (17/ paid), 10/2 (odd parcel) ; New Zealand Breweries, £2 3/3: Dominion Builders, 4/; G. .1. Coles, £4 3/; New Zealand Paper Mills (rights). 1/3: Wool worths (Svdnev, ord.), £1 1/10; Grey River. 12/3; Broken Hill South, £1 8/1; Mount Lyell, £1 3/9; Mount Morgan, 7/11, 8/. Reported: South Canterbury Electric, 4J per cent, 1/3/40. £103 10/. DUNEDIN. Monday.—Farmers' Fertilizer, 19/6" Woolworths (Sydney), £1 l/ll ; Woolworths Properties (rights), 3/10; Mount Morgan, 8/3.