COMMERCIAL

Press, Volume LXXVIII, Issue 23819, 12 December 1942, Page 6

COMMERCIAL

STOCK EXCHANGES

MODERATE CHRISTCHURCH

BUSINESS

During the week the Christchurch Stock Exchange experienced only a moderate turnover. Price levels have been fully maintained with buyers still outnumbering sellers. The demand for banking shares has not decreased, and rises have been recorded in Bank of New Zealand, National Banks, and E„ S., and A. Frozen Meat shares have been fairly active and Gear Meat shares have risen sharply. Westport Coals have dropped slightly during the week. Insurance and Breweries shares have been inactive. Broken Hill Proprietary and G. J. Coles have changed hands at higher prices, and Booth Macdonald preference have been in demand. Sale on ’Change.—Listed stock: 100 Mount, Morgan, 9s.

Sale on ’Change.—Unlisted slocks; 100 N.Z. Oil Concessions (rights). 17s 6d. Sales Reported.—Listed stocks; £125 Auckland Gas. 3i p.c. Perp. debentures (late sale Thursday), £B9; 100 Bank of N.Z.. 40s 6d; 200 Gear Meat, 20s 3d; 200 Westport Coal, 24s 6d: 100 Broken Hill Pty. I late sale Thursday), 40s 9d; 100 Broken Hill Pty., 40s 9d. LATEST QUOTATIONS

N.Z. Govt. Debentures.—2J p.c. Ins., 1946, b. £9B 10s; 3 p.c. Ins., 1943, b. £IOO 10s; 3i p.c. In?.. 1957-60. s. £lOl 15?; 3J p.c. Ins., 1953-57, b. £lO3 10s, s. £104; 4 p.c. Ins., 1943-46, b. £IOO 15s; 4 p.c. Ins., 194932, s. £lO5 10s: 4 p.c. Ins., 1952-55, b. £lO7 ss; 4 p.c. Bonds, 1955, b. £lO7 ss; Liberty Bonds, b. 18s 3d; War Loan, 1/10/53, s. £94 10s; 3 p.c. Ins., 1952-55, b. £99 7s 6d. Banks.—Adelaide, b. £5 7s 6d; Australasia, b. £8 17s 6d; Comm, of Aust., b. 15s; Comm, of Aust. (pref,), b. £lO Is; E.. S„ and A., b. £3 15s: Natl, of A/a?ia. (£lO paid), b £l2 2s fid; National of A/asia. (£5 paid), b. £5 12s fid; National of N.Z., b. £2 Bs, s. £2 9s: New Zealand, b. £2 0s 6d, s. £2 Is; Union of Aust., b. £7 12s 6d, Loan and Agency.—Dalgcty and Co., b. £7 ss, s. £8; Goldsbrough, Mort, b. £1 7s 9d.

Frozen Meat.—Canterbury, b. £l2 ss, s. £l3: Canterbury (pref.), b. £7 ss; Gear, hj. 19s 9d; N.Z. Refrig. (£1 paid), b. £1 4s 3d. s. £1 ss: N.Z. Rcfrig. (10s paid), b. 10s 9d, s, 10s lid; Southland, b. £1 15s; North Canty. Freezing (pref.), b. £1 Is. Woollens.—Felt and Textiles, b. £2 fls 6d, s. £2 3s; Kaiapoi (17s paid), b. 19s 3d; Kaiapoi (pref.). hj. £1 Os fid; Manawatu, b. £1 10s, s. £1 15s.

Coal.—Grey Valley, b. 7s fid; Kaitangata, b. £1 13s: Westport, s. £1 4s 9d: Westport Stockton, b. 2s fid, s. 3s; WestportStockton (pref,), b. Bs, s. 8s 9d. Breweries, —Ballins (15s paid, ex div.l, b. 12s 9d, s. 14s 6d: Dunedin, b. 19s fid: New Zealand (ex div.). b. £1 14s 3d. s. £1 15s 9d; Swan, hj. £1 Is. Miscellaneous.—Alloy Steel (N.Z.). b. £ 1 15s 3d: Andersons (Ist pref.). b. IBs fid: Aust. Con. Industries, s. £2 11s fid: Beath and Co., b. £1 3s 3d. s. £1 ss; Beath and Co. (pref.), b. £1 3s fid; Beath and Co. (Is paid), b. Is; Berlei (N.Z.). b. £3 8s fid; Booth. Macdonald (pref.), b. 7s: Broken Hill Ptv,, b. £2, s. £2 Is; Canterbury Roller Four. b. 10s fid; Colonial Sugar, s. £32 10s; Dorn. Fertiliser, b. £1 Is 9d, s. £1 2s fid: Donaghy Rope, b. £2 12s; D.I.C. (10s paid), b. 15s fid: Evans Atlas Flour, b. £1 4s. s. £1 6s fid; Hay’s, Ltd., b. £ I 10s, s. £1 13s; Hay’s, Ltd. (cont.), b. £1 ss; Mason. Struthcrs (£1 paid), b. 12s fid: Mason, Struthcrs (14s paid), b. ss; Milhurn Lime. b. £1 13s fid; N.Z. Farmers’ Co-op. (£2 10s paid), b. 8s; N.Z. Forest Products, b. 3s 3d: N.Z. Paper Mills, b. £1 14s fid, s. £1 15s fid; Northern Roller Milling, b, £1 2s 3d; Otago Daily Times, hj. £2 2s fid. s. £2 4s fid 1 , Taranaki Oilfields, s. 5s fid; Tingey. R. and E. (pref.), b. £1 2s; Urlwins (pref.), b. £1 2s; Whitcomhe and Tombs, b. £4 4s fid; Woolworths, Ltd., b. 15s lid, s. 16s; Woolworths (N.Z.), b. 14s 7d: Woolworths (N.Z.) (pref.). b. £1 19s; Woolworths Properties, b. £1 4s fid: W. R. Carpenter, b. £1 5s fid.

Overseas Lists. —Woolworths (S.A.), b £ 1 Is.

N.Z. Mining.—Arahura (def., cum div.), hj. 19s. s. £1 ss; Arahura (nrd.), b. £1 7s; Barrytown, b. Its; Barrytown (def.), s. 10s 6d: Grey River, s. 14s; Ngaherc, b. 6s; Slab Hut (5s paid), b. ss, s. 5s sd; Snowv River (5s paid), b. 6s 6d, s. 7s. Unofficial List.—Aust. Invest. Trust, s. Its; Aust. Mot. Petrol, b. 11s 6d; Christchurch Press, b. £8 12s 6d. s. £10; Fletcher Holdings (ord.), s. £1 7s; N.Z. Oil Concessions, s, £1 10s: N.Z. Oil Concessions (rights), s. £1; Recce, Ltd., E. (prof.), b. 4s 9d: Silknit, b. lls; Warners, Ltd., b. £6 6s; Westland Breweries, s. £1 3s. AUCKLAND Sales.—Liberty Loan, 15/9/52-55, 3 p.c., £99 10s; N.Z. Govt. Slock, 15/5/49-52. 4 p.c., £105; Auckland Gas (perp. deb.). £B9; Commercial Bank. 15s 3d; National Bank of N.Z., 48s 6d; Bank of N.Z.. 40s 6d; National Insurance, 21s 6d; N.Z. Insurance, 775; Wright, Stephenson, 20s 9d; Perpetual Trustees, 48s; Leyland O'Brien, 20s; N.Z. Breweries, 34s 6d; Colonial Sugar, £52; Farmers' Trading (odd lot), 225; G. J. Coles, 575; Reid Rubber, 255; Woolworths (N.Z.). 14s 9d, 14s lOd; Mount Morgan, 9s Id. WELLINGTON Sales.—Bank of New Zealand (2). 40s fid; Equitable Buildings (10s paid), 10s; National Insurance. 21s sd; Leyland O’Brien, 20s; Woolworths, Ltd. (4), 15s lOd. DUNEDIN Sales Reported.—Martha Gold, 9s; G ; Coles and Company. Ltd., 57s 3d; Star-v ard Insurance, 70s.

COMPANY NEWS

P. and O. Steam Navigation Company (London) has declared a final dividend on preferred stock of 2i per cent., making 5 per cent, for the year (unchanged) and on deferred stock 3 per cent, plus a bonus of 3 per cent. (8 per cent, for the year against 7i per cent.), all less United Kingdom tax. R. and E. Tingcy, Ltd., Wellington, have declared a yearly preference dividend of 3 per cent., payable December 31. Taranaki (N.Z.) Oil Fields.—Accounts of Taranaki (N.Z. Oil Fields, N.L., for year ended April 30 show that expenditure exceeded receipts by £232. Drilling at the Morere well ceased in December last owing to insuperable drilling difficulties and operations at the Midhirst well ceased In February last. Both wells were being drilled by New Zealand Petroleum Company, Ltd., in which the Taranaki company was Interested through its subsidiaries. Activities have since been transferred to the Devon well. Royalty at the rate of 5 per cent, of the value at the well’s mouth of oil which may be won from the Devon No. 1 well is payable to Moturoa Oil Fields, Ltd.—ln which Taranaki (N.Z.) Oil Fields, N.L., has a 50.58 per cent, interest. Production to June 30 at the Nos. 1, 2, and 4 wells of the company totalled 44,636 barrels. Taranaki (N.Z.) Oil Development Company, N.L., an associate of Taranaki Oil Fields, In accounts for year ended April 30, show that expenditure exceeded revenue by £1344. Hume Steel Profit.—Hume Steel (Melbourne), Ltd., reports a profit of £55,521 before providing taxation for year ended September 30, against £61,240 in 1940-41. Preference dividend of 71 per cent, takes £11,250, and the ordinary dividend at 2J per cent. £6250. National Tobacco Company.—Net earnings of the National Tobacco Company, Napier, for the year ended October 31 were £3013, compared with £5445 in the previous year and £7582 in 1940. The result was struck after providing £24,107 for income and security taxes (against £10,330). The directors propose dividends of 71 per cent, on both ordinary and