COMMERCIAL

Press, Volume LXXIX, Issue 23942, 8 May 1943, Page 6

COMMERCIAL

STOCK EXCHANGES STEADY SALES RECORDED AT CHRISTCHURCH The market opened buoyantly at the Christchurch Stock Exchange on Monday after the Easter vacation, and throughout the week, with the exception of Thursday, steady sales were recorded. Buying bids were strong, and many stocks rose, although they failed to reach the sales list. Apart from, vestibule business. the following transactions were recorded:— . „„„ Sales on ’Change.—Listed Stocks: £265 N.Z. Govt. 4 p.c. Stock, 1946-49, £lO2 ss: 500 Goldsbrough, Mort, 27s 9d; 200 New Zealand Breweries, 37s (2); 100 Macduffs (pref.), 22s 6d. Sales Reported.—Listed Stocks: 25 Union Bank of Australia, £7 13s 6d; 250 Mason, Struthers (£1 paid), 13s 9d: 250 Mason Struthers (14s paid), 7s; 400 M.K, Manufacturers, 7s Id; 500 Mount Morgan (crd.), 10s 6d. Trend of Markets

Government Stock has been steady with sellers appearing for the 2J per cent, and 3 per cent, issues The banking section was firm and active. Insurance shares showed slightly firmer prices, with occasional sales. Loan and Agency, apart from a sale of Goldsbrough Morts, have been quiet, with strong buying offers. Frozen meat shares all had strong inquiry. In the miscellaneous section numerous sales have been recorded. N.Z. Drugs and Farmers' Co-op. both were sought after at increased prices. LATEST QUOTATIONS

N.Z. Govt. Debentures.—2i p.c., Ins., 1946, b. £9B 7s 6d, s. £99; 2J p.c. Ins., 1947, s. £9B; 2J p.c. Ins., 1948. s, £99; 3 p.c. Ins., 1945, b. £100; 3 p.c. Ins., 395154, b. £99 12s 6d; 3 p.c. Ins., 1952-55, b. £9B 12s 6d; 3 p.c. Ins., 1953-56, b. £99 ss, s. £99 15s; 31 p.c. Ins., 1956-59, b. £101; 31 p.c. Ins., 1957-60, b. £101; 31 p.c. Ins., 1953-57, b. £lO3 10s; 4 p.c. Ins., 1946, b. £101; 4 p.c. Ins., 1949, b. £lO2 ss; 4 p.c. Ins., 1955, b. £lO7 7s 6d; 4 p.c. Ins., 195458, b. £IOB ss; 4 p.c. Bonds, 1946, b. £lOl 2s 6d: War Loan, 1/10/53, s. £94 12s 6d.

Other Debentures.—Springs Ellesmere, 41 p.c. (1/12/52), b. £lO7, S. £llO. Banks.—Adelaide (ex div.), s. £6 2s 6d; Australasia, b. £8 19s; Comm, of Australia, b. 16s 3d, s. 16s 6d; Comm, of Australia fpref.), b. £10; Comm, of Sydney, b. £l9, s. £2O 10s: E.. S., and A. (ex div.), s. £4 Is; Natl, of Australasia (£lO paid, cum div.), s. £l2 ss; Natl, of Australasia (£5 paid, cum div.), b. £5 12s 6d; National of N.Z,, b. £2 11s 3d; New Zealand (cum div.), b. £2 0s lOd; Union of Australia, b. £7 13s. Insurance.—New Zealand, s, £4 Is; Standard, b. £3 11s 3d. Loan and Agency.—Christchurch Building, b. £lB 7s 6d; Goldsbrough, Mort, b. £1 7s 9d, s. £1 8s 3d: Invincible Building, b. £4 12s 6d: National Mortgage "A.” b. £2 15s, s. £2 18s; National Mortgage "B,” b. £1 11s 6d; Mutual Benefit (ex div.), b. £ls; N.Z. Guarantee Corpn.,' b. 3s 6d; N.Z. Loan and Merc. (ord. stock), s. £3B; Permanent Investment, b. £10; United Building, b. £1 Is; Wright. Stephenson, b. £1 2s 6d.

Shipping.—Huddart Parker, b, £2 Os; Union (pref.), b. £1 10s. Frozen Meat.—Canterbury (pref,), b. £7 12s fid; Gear, b, £1 Is fid, s. £1 2s fid; N.Z. Refrigerating (£1 paid), b. £1 4s fid; N.Z. Refrigerating (10s paid), b. 11s 4d; North Cant. Freezing (pref.), s. £1 2s 9d; Waifakl, b. £5 ss; Wellington, b. 9s fid. Woollen.—Bonds Hosiery, b. £1 12s; Bruce, b. £1 fis 3d; Felt and Textiles, b. £2 3s fid: Kaiapoi (17s paid), b. £1 Is; Kaiapoi (7s paid), b, fis; Manawatu, b. £1 13s; Mosgiel (ex div.), b. £11; Oamaru (ox div.), b. £1 4s; Timaru, b. 19s lOd, s. £1 Os 3d; Wellington, b. £8; Wellington (pref.), b. £8 7s fid. Coal.—Kaitangata (cum div.), b. £1 14s, s. £1 18s; Westport, b. £1 4s 9d; West-port-Stockton, b. 2s fid, s. 3s; WestportStockton (pref.), b. ss, s. 7s fid. Gas.—Christchurch, b. £1 ss; Christchurch (10s paid), b. 12s, s. 12s fid. Breweries.—Ballins (15s paid), b. 15s; Dominion, b. £1 14s 3d, s. £1 17s fid; New Zealand, b. £1 )6s fid, s. £1 17s 3d; Swan b. £1 4s; Tooheys, b. £1 IJs, s. £1 13s 9d: Tooths (cum div.), b. £2 17s. Miscellaneous.—Alloy Steel (ex div.), b. £1 16s; Aust. Consolidated Industries, b. £2 11s 3d; Beath and Company, s. £1 4s lid; Beath and Co. (pref.), b. £1 4s; Berlei (N.Z.), b. £3 8s fid; Booth, Macdonald (pref.), b. Bs, s. 8s 4d; British Tobacco, s. £2 7s fid; Broken Hill Pty. (ex div.), b. £2 Is 7d, s. £2 2s 3d; Cant. Roller Flour, b. 13s; Carrier Air Conditioning, s, £1 Is; Dominion Fertiliser, b. £1 4s; Donaghy Rope, b. £2 16s fid; D.I.C. (10s paid), b. 17s 4d; D.I.C. (pref,), b. £1 ss; Dunlop Rubber, b. £1 Is, s. £1 2s; Electro. Zinc, b. £2 14s, s. £2 16s: Electro. Zinc (pref.), b. £2 15s; Evans Atlas Flour, b. £1 4s; G. J. Coles, s. £2 15s; General Industries, b. 19s; Hay's, Ltd., b. £1 12s fid; 1.C.1. (Aust. and N.Z.. pref.), b. £1 4s fid; Mark Foy, s. £1 7s; Mason, Strulhers (£1 paid), s. 14s fid; Mason, Struthers (14s paid), b. fis, s. 7s 9d; Meggitts, b. £1 12s fid; Milburn Lime, s. £1 15s; M.K, Manufacturers, b. 7s, s. 7s fid; Macduffs, b. 9s fid, s. 10s; Macduffs (pref.), b. £1 2s; National Electric, b. £1 fis; N.Z. Drug Company, b. £4 8s 3d; N.Z. Drug Company (£1 paid), b. £2 13s; N.Z. Fanners' Co-op. (£2 10s paid), b. 13s; N.Z. Farmers' Co-op. (Ist pref.), b. £4 8s; N.Z, Farmers’ Co-op. ("A” pref.), b. £2 14s fid, s. £3; N.Z. Farmers’ Co-op. ("B” pref.), b. £2 4s fid; N.Z. Farmers' Co-op. (4J p.c. Stock, 1949), b, £95 10s; N.Z. Farmers' Co-op. (4J p.c. Stock, 1940), b. £95 10s; N.Z. Farmers’ Co-op. (4J p.c. Stock. 1955), b. £95 10s; N.Z. Newspapers (cx div.), s. £1 16s; Otago Daily Times, b. £2 3s fid; Quill Morris (1936), b. £1 2s fid: Tingey. R. and E. (pref.), b. £1 7s fid; Taranaki Oilfields, s. 3s 9d; Urlwins (pref,), b. £1 2s 9d; United Provisions, b. 12s; Weeks, Ltd., b £lO 10s; Whitcombe and Tombs, b. £4 12s fid; Wilson’s Cement, hj. 18s; Woolworths (Syd,, ord.), s. 16s 3d; W. R. Carpenter, b £1 14s; Woolworths (West Aust.), b. £2 17s.

Overseas Listings.—'Woolworths (South Africa), hj. £1 3s 6d.

Australian Mining.—Bulolo. 1). £2 10s; Loloma, s. £1 4s Cd; Mount Morgan, b. 10s 4d; Mount Morgan (pref.), b. £1 Is; North Broken Hill, b. £2 9s 6d; Wellington Alluvials, b. 2s 3d. N.Z. Mining.—Arahura (ox div.), b, £1 6s, s. £1 10s; Austral (N.Z.), s. £1 2s; Barrytown, s. 14s; Barrylown (deferred), s. 10s Gel; Blackwater, b. 16s; Grey River, b. 13? 6d, s. 14s; Kanieri. s. £1 Os 6d; Ngahere, b. 6s; Slab Hut, b. 5s 7d. s. 5s lOd; Snowy River, b. 7s 3d: Wailn Investments, b. 4s 4d; Una Hill, s. Is.

Unofficial List.—Apex Ice (ord), b. 14s 6d; Amalgamated Batteries, s. 14s; Ass. Mot. Pet, (pref ), b. £1 2s 9d; Aust. Mot. Petrol, b. 12s. s. 16s; Ballms’ Breweries "Debs.," b. £9B; Clieh. Press, b, £9 2s 6d. s. £10; Coulis, Somerville, b. 19s, s. £1; Mikonui (3s 6d paid), b, 3d; Mikomil (deferred), b. Is; Woolston Tanneries "B," b. 16s, s. £1; Whakatanc Paper, b. 8s; Whakatanc Paper (pref.), b. 16s. AUCKLAND 31 p.c. Stock, 15/9/57-60, £lOl 10s; 4 p.c., 31/5/54-58, £IOB 7s 6d; Auckland Gas iperp. deb.), 3i p.c., £B7 10s (2); National Bank of N.Z., 51s Gd; Bank of N.Z.. 41s; South British, C9s Cd; Newton King (pref.), 17s; Kaiapoi Woollen (con.), odd lot, 8-j; N.Z. Newspapers, 35s 4d; Santord, 5s sd; Forest Products, 4s 8d; Radio (1930, 14; Cd; Mt, Morgan, 10s Cd. WELLINGTON Sales.—Late on Thursday: 3 per cent. Stock, 15/9/52-55, £9B 15s; Commercial Bank, 16s 4d; National Insurance, 22s 3d; New Zealand Insurance, 80s; Wellington Woollen (pref,), £8 7s Cd; National Electric, 27s 3d; Wooiworlhs (Sydney), 15s lid. DUNEDIN Sales Reported.—lnscribed Stock, 4 per cent. 1254-53, £lO3 ss; Katapoi Wolien lord.), 225: McLeod Bros., £24; Whakatanc Paper Mills (unlisted), 5s 6d; Bank of New Zealand, 41s.

COMPANY NEWS

Kauri Timber Co.—Cable advice has been received from the head office of the Kauri Timber Company, Melbourne, as follows:—Board resolved pay interim diviend 2 per cent, for half-year ended February 28, 1943. Dividend payable June U Alloy Steel (N.Z.), Ltd.—The company advise that a final dividend of 3J per cent, which together with the interim dividend declared in October, 1942, of 3? per cent., makes a total of 7 per cent, for the year, together With a bonus of Is per share, will be recommended at the annual general meeting to be held on May 25. This dividend, if approved by the shareholders, will be paid on May 25 to members on the share register of the company as at April 28, 1943. N.Z. Paper Mills, Ltd.—The company advise the payment of a final dividend of 4 per cent., making with the November interim dividend 7 per cent, for the ye:.-, distribution to shareholders on May 28 The share transfer books will be closed from May 14 to May 27 inclusive. Bycroft.—The directors of Bycroft recommend a final dividend of 4 per cent., payable on May 17.

MINING

Bulolo Gold Dredging, Ltd.—Cable advice has been received that the directors report for the year ended May 31, 1942. states that the annual meeting will be held on March 29. Eight dredges operated from June 1, 1941. to January 21, 1942. when dredging ceased owing to Japanese aerial attacks upon the area. A Preliminary claim amounting to £A538,426 has been filed with Australian War Damage Commission in respect of stores supplies and fixed assets damaged or destroyed. Under Australian regulations, settlement of war damage claims will not be made until after the war. Net working profit for the period before amortisation and an appropriation of 2,000,000 dollars to war contingencies reserve was 2,354,644 dollars. Estimated dredgeable gravel reserves are 129,000,000 yards, plus about 21,000,000 yards, which will be handled hydraulically. • . .. Maori Dredge.—The return from the Maori Gold Dredge for the week ending May 7 was 48oz Bdwt from 13,800 yards in 124 hours.