COMMERCIAL

Press, Volume LXXVIII, Issue 23746, 18 September 1942, Page 6

COMMERCIAL

STOCK EXCHANGES CONDITION OF LOCAL MARKETS There was a good demand again on the Christchurch Stock Exchange yesterday for all classes of Investments, although the recorded business was the smallest for the week, sellers being cautious and quoting wide of the market. Government stock issues have varied little this week, buyers being content to mark time on their quotations with sellers scarce. The only change in the banking section was a sale of Bank of New Zealands at 39s 3d, an advance of 2d on last marking, buyers advanced their quotations to 26s lOd for Goldsbroughs, sellers asking 5d more; otherwise this section, together with the frozen meat, woollen and coal groups, remained firm at late rates. In the shipping section. Huddart Parker scrip was asked for at 43s 6d. and P. and O. Deferred stock at 345, but sellers were reticent. Union Steam Ship (preference) advanced to 27s 9d on buyers’ quotations, sellers asking 3d higher. New Zealand Breweries were firm at 33s 6d buyers, 34s sellers, and in the miscellaneous section Australian Consolidated Industries .advanced on last business to 47s 3d without buyers. Other Australian securities in demand were British Tobacco at 40s, G. J. Coles at 51s 6d, and Woolworths, Ltd., at 16s, but sellers did not declare. The only alteration In the mining tions was Snowy River, which closed 6s 9a buyers, 7s sellers, an advance of Id on the last buying quotation. Apart from vestibule business, the following transactions were recorded:— Sales Reported.—Listed stocks: 100 Bank of New Zealand, 39s 9d; 200 Woolworths, Ltd. (cum dlv.), 16s. AUCKLAND Sales— Liberty Loan. 15/9/47, 2J p.c., £97 ss; Liberty Loan, 15/9/52-50, 3 p.c., £9B 12s 6d (2): Auckland Gas Perpetual Debentures, 3J p.c.. £BO 10s; Bank of New Zealand, 40s (4); Union Bank, £7; South British Insurance. 62s 9d; New Zealand Refrigerating (con.). 9s 7d. WELLINGTON _ , Sales.—Taranaki Oilfields, 6s; Woolworths Holdings. 18s 6d. DUNEDIN Sale Reported.—Donaghy’s Rope, 49s 6d. Sydney.—An absence of sellers caused the Sydney Stock Exchange yesterday to be comparatively inactive. Sales were:— Coles, 47s 6d; Placer Development, 40s 9d; Broken Hill Pty., 375; Drug Houses. 28s 10Jd; Tooheys Brewery, 265; Standard Cement. 19s 3d; Colonial Sugar. £47 10s: Bank of N.S.W., £25 15s; Tooth’s Brewery, 48s; Australian Consolidated Industries, 475; Associated News (pref.), 14s 10d; Australasian Paper. 32s 3d. The produce market was unchanged. STOCK SALES ST. ANDREWS (P.S.S.) TIMARU, Sept. 17. The entry of fat cattle’ at the St. Andrews sale was larger than at the previous sale. All classes . sold under keen competition, and values appreciated slightly on late rates. Best steers made from £ls 2s 6d to £l6 7s 6d; light to medium £ll to £l4; prime heifers. £l2 12s 6d to £l4 17s 6d, light to medium £9 17s 6d to £lll7s 6d; extra prime cows made to £ls 17s 6d, prime £lO to £l3 7s 6d. light to medium £7 7s 6d to £9 12s fid. The few pens of fat sheep yarded sold at late rates. Fat wethers made from 34s lOd to 39s lOd; prime ewes, 31s lOd to 35s 10d, light to medium 23s Id to 29s lOd. A line of ewes, with lambs at foot, realised 12s, all counted. Okarito Dredge.—The return was’ 20oz 18dwt from 3226 yards. In 81 hours. j j