SOUTHERN EXCHANGES

Auckland Star, Volume LXIX, Issue 208, 3 September 1938, Page 4

SOUTHERN EXCHANGES

TO-DAY IN CHRISTCHURCI^.

[NEW ZEALAND SHARES RECEDE. REACTION TO TAX PROSPECT. (By Telegraph.—Special to " .Star.") CHRTSTCHURCH, this day. The Christehurch Stock Exchange responded to the prospect of Social Security taxation on companies by an allround writing down of values this morning. Fhere was scarcely a buyer on the list for any X'ew Zealand shares. Xew Zealand Breweries fell by 1/10 to a sale at 40/, after which unsupported sellers asked 40/6. Sellers of Dominion Breweries dropped to 30' without buying lespouse. Contrasting with these quotations. the Australian firm of Tooths had a well-sustained market from 54/6 to 35,/. Other examples of the withdrawal of buying support came in Farmers' Fertilizers, which were quoted from 15/9 to 18 '. compared with recent sellers at 18'9, V\ ilson Cements, with a market from 12/6 to Wll. compared with business yesterday at 17/, and Xew Zealand Refrigerating with unsupported sellers at 18'3 for the fully paids and 8 2 for the contributing*. Australian securities were relatively steady, though a few f-ellinjz concessions were made. Dunlops eased 2d to 21'. and O. J. Coles had a market from 78/3 to 78 !). Broken Hill Proprietary were on offer at 57/3.

SALES RECORDED. (By Telegraph—Press Association.) CHRISTCHCRCH Friday.—National Hank ot New Zealand, t U FJ/0: I'nion ltmik. US 8/: Invincible Building, i; 4 10/: Canterbury Meat (pref.i. to 2 (i : K.C.1., 14/11: Wilcox Mofflin. (I/4 : Broken Hill Proprietary (eon.), :!X/7. 'I'llis Day.—New Zealand Breweries. 40/ : Punlop Perdriau, 21/. Reported : Donaghy's Hope, 40/. * .WELLINGTON. KrUlay.-—l'notfielnl: Woolwortlis (West Australia), 84/, odd lot. Tills Pay.—Stock. 3/30-43, 3i per cent, e 100 /1> : Commercial Hank (pref.). .£ 0 (>/ : Brnken Hill Proprietary, £2 17/3: British Tobacco. £2 7/10J (2). Reported: I Commercial Bank (pref.i. VI 4/0: National J Bank of Australasia (£10). 113 14/3: Wellington Investment. K/9 : Myers' Emporium (prcf.). £ 1 15/: 1.C.1, ipret'.), tl 1/7; Broken Hill Proprietary, £2 17/3; G. J. Coles, £3 18/6. DUNEDIN. Friday.—National Insurance. 10/11 : Woolwortlis (Sydney), £ 1 1/2: North Broken Hill. K 2 .">/. This Day.—D.l.C. (ord.). 14/0: Ponaghy's Rope and Twine, £2; New lllver, 6d.