COMMERCIAL

Press, Volume LXXXIII, Issue 25139, 21 March 1947, Page 8

COMMERCIAL

STOCK EXCHANGES ISSUES IN DEMAND BUT FEW SELLERS There were firm buyers for most issues on the Christchurch Stock Exchange yesterday, but sellers were scarce and there was only a small sales list. Broken Hill Pty. shares maintained recent sales prices when 200 shares were sold at 51s. Dunlop New Zealand, preference shares, changed hands at Us lOd. showing no alteration. A reported sale of Self ridges Australasia shares was made at the unchanged rate of 49s 9d, and there was further business in Woolworths. Ltd., rights at 20s. Grey River Gold Dredging shares had reported business at 9s. the first for some time. National Bank of New Zealand shares were firmer at 72s 6d. 735. Dalgety shares were also firm at £l2 12s 6a, £l2 17s 6d. DOMINION TRANSACTIONS Christchurch

Auckland Sales.—N.Z. Govt. Stock, 1/10/53, 24 p.c. (£500), £97 13s 9d; 15/4/60-63, 3 p.c. (£360), £lOO 15s; 15/11/57-60, 3 p.c. (£1050), £lOO 10s; 15/6/52-53. 4 p.c. (£410), £lO4 17s 6d; Wool, 1/2/48 (180), 225; 1/2/49 (105), 21s 6d; N.Z. Farmers Co-op., 31/1/50, 4J P.c. (£200) £101; 31/1/55, 44 P.C. (£400), £lOl 2s 6d; Bank of N.S.W (4), £4O ss; Auckland Gas (114), 7s Id; Northern Steam (550), 12s 3d; N.Z. Breweries (50), 60s; A.C.I. (451), 60s 6d, (50) 61s; Brents (145). 48s 6d; Broken Hill Pty. (100). 51s; Claude Neon, N.Z. (50), 525; Consolidated Bricks (300), 17s 9d; Dunlop, N.Z. (150). Ils 9d. pref. (200) Us lid; Electro. Zinc (50), 68s, pref. (100) 695; Fletchers (100), 38s 3d; Gordon and Gotch (100), 91s; National Electric (250). 52s 6d; Radio, 1936 (200), 20s; Sanford (250). Us 6d; Woolworths, Syd., rights (125) 20s; North Broken Hill (100), 80s. Unlisted: Korma, pref. (550), 26s 6d. Wellington Sales.—Late Wednesday: Bank of N.S.W. (5), £4O ss; Sanford, Ltd., ord. (200), Us 6d; Broken Hill Pty. (100). £2 Ils. Yesterday: N.Z. Govt. 3 p.c. Stock, 15/5/53-56 (£500), £lOO 12s 6d; Dunlop, N.Z., Ltd., ord. (100), Ils 9d; N.Z. Govt. 24 p.c. Stock, 15/2/49-50 (£200), £9B 56; 3 p.C. Stock, 15/2/55-58 (£500), £99 15s; A.C.I. (100), £3, (501) £3 Os 6d; Broken Hill Pty. (96), £2 Us; Consolidated Brick (200), 17s 9d; Broken Hill Pty. (100; two sales), £2 Dunedin Sales. —National Mortgage (A) (25), £5 ss, (156) £5 ss; Dunlop (N.Z.), ord. (50), Us 9d. Sales Reported.—Dunlop (N.Z.), pref. (200), Us Id, (200) Us Id; Fletcher Holdings, ord. (100). 38s 3d; Fanners' Fertiliser, pref. (133), 27s 9d; National Bank, pref, (late; 40), 72s 6d; Bank of N.S.W. (late; 13), £4O ss; Dunedin Breweries (late; 200), 38s; North Broken Htll (latef 75), £4. (50) £4; N.Z. Govt. 24 p.c. Stock. 1953 (£1780). £97 15s; 4 p.c. Stock, 1952-53 (£410), £lO4 17s 6d; Bank of A'asia. (29). £l3 10s; Waitaki Farmers (25). £8 7s 6d; N.Z. Breweries (250), 60s; Dunlop (N.Z.). ord. (50), Ils 9d. Sydney Prices of many shares were taken to new record levels on the Sydney Stock Exchange yesterday. Shares traded at new levels included Burns Philp, Mark Foy, and Selfridges, A.G.1., from which a new share issue is in prospect, rose sharply, and Broken Hill Pty again improved. Sales.—Bank of New South Wales, £39 10s; Commercial Bank of Sydney, £24 19s; Commercial Bank of Australia, 21s 6d; National Bank (£5 paid), £7 19s; Associated News. 19s 3d; Howard Smith. 245; Burns Philp, 84s; Australian Gas. £7 10s; British Tobacco, 54s 9d; Tooths. 78s 3d; Tbohey’s, 37s 9d; Selfridges, 48s; Dunlop. 35s 10V 2 d; Farmers. 48s 3d; David Jones, 56s 6d; Anthony Hordern, 29s 3d; Anthony Hordern (pref.), 29s l%d: Australian Paper. 36s 6d; A.C.1.. 60s 6d; Yarra Falls. 51s; Felt and Textiles, 60s; Goldsbrough Mort, 355; Wilcox Mofflin. 17s 6d; Morris Hedstrom, 52s 6d; Electro Zinc (pref.). 665; Mount Lyell, 25s 9d; Zinc Corporation, £6 17s '6d; Broken Hill Pty., 49s 3d; Broken Hill Pty. (new). 49s 3d; Loloma (London delivery), 22s 3d,

CALL AND DIVIDEND LIST

Macduffs, Ltd.—3 p.c. pref., 44 p.c. arrears, making 101 P.c. for year; 5 p.c. ord. (ex March 8) Mar. Bl Silknit, N.Z.—7 p.c., p.a. (ex March 17) Mar. 14 Aust. Gypsum—int. 2 p.c. (ex • March 19) .. Mar. 26 Mauri Bros.—int. ord., 5 p.c. (ex March 18) .. Mar. 27 Milburn Lime—int. 5d (ex March 21) .. Mar. 27 Peters Ice (Vic.) —int. 5 p.c. (ex March 1) Mar. 27 Bank of Australasia—fin. 5s a share, less 9s in £1 tax. making 84 p.c. for year (ex Mar. 4) .... .. Mar 28 Bonds Hosiery. N.Z. (10 p.c. for year (ex March 14) Mar. 28 Beath and <?o.—int. 5 p.c. ord., 24 P.c. T>ref. (ex March 17) Mar. 28 Auck. Laundry—lst and finl. 3 p.c. (ex March 15) .. Mar. 28 Metters, N.Z.—9d (6 p.c.), p.a. (ex March 28) .. Mar. 28 Silverton Trams—int. 6d (ex March 7) .. Mar. 29 Huddart, Parker—fin. 7 p.c. ord. (12 p.c. year), 3 p.c. pref. (6 p.c. year) (ex March 19) .. Mar. 29 Dunlop Rubber, Aust. (int. 34 p.c., ord. 5 p.c. pref, (ex March 11) Mar. 31 W. R. Carpenter—int., 4J p.c. .. Mar. 31 Brit. Tobacco—int., 2 p.c. (ex March 5) .. Mar. 31 Felt and Text., Aust.—int. 3 p.c. Ist pf., 61 p.c. ord. .. .. Apl. 1 United Bldg.—fin. 6d share, or 5 p.c. year (ex March 24) .. Apl. 1 W’worths, S. Af.—int. ord., 10 p.c. (ex March 15) .. Apl. J W’worths, Syd.—fin., 9 p.c. ord. (ex March 19) Apl. 5 N.Z. Drug—fin., , 44 p.c., plus bonus, 11 p.c. (ex March 11) Apl. 12 W’worths. Vic.—irft. pref., 34 p.c. (ex March 22) .. .. Apl. 15 W’worths, V/.A.—fin., ord. 9 p.c., making 14 p.c year (ex March 25) ~ Apl. 15 W’worths, N.Z.—44 p.c. half year, less security taxes Is in £1 (ex March 24) .. Apl. 15 Nat. Mortgage—finl. 24 p.c., bonus U p.c. year .. Apl. 22 Elect. Zinc—int. 6 p.c. pf. and ord (ex March 11) .. .. May 9 M.K. Mfrs.—B p.c., p.a. (ex March 21) .. .. Apl. 18 How. Smith—fin., 3 p.c. (ex April 16) •• o •• .. Apl. 30 Wm. Cable—pref., 34 p.c. (ex April 1) .. .. .. May 1 1 SHAREMARKET INDICES London.—" Financial Times” (1926

New York.—Dow Jones (126 equals 100), 1939. Highest (Sept.), rails. 35.90: industrials, 151.22. Lowest (April), rails 24.15; Industrials, 121.4. Shares

INCREASED TALLOW PRICES “Producers throughout the Dominion will be gratified to read the Government’s announcement regarding the increased prices to be paid for tallow," stated the general manager of the New Zealand Meat Producers’ Board. For some time the board had been urging this step to stimulate the collection of fat and so bring into production the many hundreds of tons being wasted .throughout the Dominion, he said. Tallow prices had been advanced by about 80 per cent, overall. The increases, which ranged from £ll 2s a ton for losv-grade gut tallow to £2l for firstgrade beef tellaw, would enable .dealers to pay increaJEd prices for fat, thus- providing the necessary incentive to those who could make additional supplies available. Tungsten.—Th6 Government buying price of wolfram (world) has risen from 92s 6d-97s 6d c.i.f. a unit to 955-100 s a unit.—(London, March 19.)

Combined Search for’ Oil.—Referring to the activities of Zinc Corporation, Ltd., London, in the search for natural gas in Australia, the chairman, Mr J. R. Govett, in an interim statement, said that these operations had been enlarged. The company had joined forces with the D’Arcy Exploration Company, Ltd. a subsidiary of the Anglo-Iranian Oil Company, Ltd., and with the Vacuum Oil Company, Pty., Ltd., in the search for both natural gas and oil in Australia. As a result the chances of success were multiplied, and the burden of finance was more widely distributed. The chairman hoped that in the next 12 or 18 months there would be an indication .of the possibilities of certain areas now being surveyed. Rayon Factory for Australia.—Court* aulds, Ltd., the English rayon manufacturers, will proceed with their plans to build a £5.000,000 rayon yarn staple ixlory near Newcastle, New South Wales, as soon as the Commonwealth Government • formally ratifies the agreement with Britain to avoid double, taxation. Double taxation is stated to make it virtually impossible to manufacture in Australia on a competitive basis.

Sales Varia- £ s. d. tion. B.H.P. (100; 50; 50) 2 11 0 N.C. Dunlop N.Z., pf. (100; 50) 0 11 10 N.C. W’wths. Syd., rts. (50; 125; 50; 75;- 45) 10 0 N.C. Sales Reported Self ridges (100) 2 9 9 N.C. Grey River (200) 0 9 0 — Union Bank (10) 13 6 0 4-1/-

Quotations Sellers. £ s. d. Buyers. £ s. d. Banks— Adelaide 7 15 0 Australasia 13 7 0 —— Comm, of Aust. .. — 12 6 Comm, of Sydney 26 0 0 Natl of A’asia.— ■ (£10) 16 0 0 — (£5) — 8 5 0 Nat. of N.Z. 3 12 3 3 13 0 N.S.W. — 40 10 0 Union 13 5 0 13 7 6 Insurance— F.A.M.E. 17 0 —. National * 1 8 0 —xSouth British 4 15 0 — Loan and Agency— C.F.C.A. (ord.) .. 15 6 — (pref.) 2 15 6 — Dalgety 12 12 6 12 17 6 Goldsbrough 1 15 9 — Mutual Benefit 19 12 6 — Natl. Mort. A. c.d. 5 4 0 — B 2 10 0 —_ N.Z.F Co-op.— 10s paid 0 10 4 4J pc Stock, 1950 101 0 0 — N.Z. Guar. Corpn. 0 5 2 — Perm Invest. 11 15 0 United Bldg., c.d. 14 6 Wright. Steph. 1 18 6 — Pref. —. 18 0 Shinping— Northern, cont. 0 3 6 Hud. Parker, e.d. — 3 7 0 Wnol’ensFelts, x:r. 3 3 0 Felts, N.Z., x.r. .. __ 3 3 0 Kaiapoi — 19 9 pref. ' — 18 0 Mosgiel 15 0 0 Timaru 1 6 6 Frozen Meat— Refrig. 1 19 3 Waitaki 8 12 6 Coal— Kaitangata 1 6 0 Westport 1 12 6 1 13 0 Gas— Christchurch 15 9 16 9 Wellington 1 14 6 Breweries— Ballins 1 15 6 — Dominion 3 10 6 New Zealand 2 19 0 3 0 6 Swan 2 5 0 Westland 2 4 6 Mis« eilaneous— Alloy Steel (N.Z.) 2 TW 6 2 19 0 Anthony Hordern 1 9 0 Aust., C.l. 3 0 0 _j Aust. Fd. Invest. .. 0 6 0 . . rts. 0 0 9 — Beaths, x.d. 2 8 0 2 10 0 Booth. Mac. o 3 y pref. 0 12 6 Brit. Tobacco 2 16 6 2 17 3 Broken Hill Pty. .. 2 11 0 2 113 Burns, Philp 4 4 0 Bulleid 10 9 Roller Flour 0 15 3 , 0 16 9 Claude Neon 2 13 0 Colonia) Sugar 56 17 6 57 5 0 Dom. Builders 0 8 0 Dom. Rubber 0 17 0 Dunlop Rubber 1 16 9 Dunlop. N.Z 0 11 7 0 11 9 pref. — 0 12 0 Electro. Zinc, pref. 3 8 3 3 9 0

Buyers. £ s. d. Sellers, s d. Evans Atlas 16 0 Fletcher Hold. 1 18 6 Frozen Products . 10 0 1 3 0 G. J. Coles 4 16 0 4 17 6 Griffin and Sons . 2 15 0 — Hadfields 0 7 6 0 9 0 Hay’s, Ltd. 3 0 0 — 15s paid . 2 16 0 — Hume Pipe 12 9 — I.C.I. (pref.) 18 4 — Kauri Timber 1 14 9 — Mas., Struthers . 13 3 13* .14s paid — 0 17 0 10s paid 0 13 0 iMetters (N.Z.), c.d — 1 14 0 Milburn Lime, c.c 1 17 6 M.K. Manufac. —M 0 14 0 Macduffs —— 1 19 0 pref. 17 3 1 8 0 Nat Electric \ 2 10 0 —• New Colosseum 2 10 0 — N.Z. Drug 5 10 6 N.Z. Express, pf. 1 10 0 F. Fertiliser 19 0 Forest Products 0 4 9 0 5 J pref. 0 8 6 N.Z Newspapers 2 12 0 •• Paper Mills 2 6 0 — Otago D. Times 2 17 6 —. Quill, Morris (193 1 16 0 — Radio (1936) 10 0 Reid Rubber __ 18 6 Smith & Smith, p 16 0 1 7 6 Selfridges 2 9 6 2 10 0 United Prov. 10 6 — Whit and T.. x.d « 7 6 — Wilsons Cement 10 0 W’worths., ord. 15 6 16 0 pref. 0 19 9 10 0 N.Z., ord. 1 10 0 1 10 11 Properties — 1 13 o (W.A.), c.d. 5 0 0 6 0 0 W. R. Cooke Walkers, Ltd. 0 15 0 0 16 0 2 2 9

equals 100):— Inds. Ord. Govt. Gold. January 3 .. 136.0 120.6 129.4 January 31 .. 134.7 120.52 129.51 February 28 132 119.82 135.28 March 11 .. 129.6 118.12 129.95 March 18 .. 129.0 117.92 126.86

Ralls. Indus. sold. December 31 .. 51.13 177.20 1,820.000 January 31 .. 50.88 180.44 1,310,000 February 23 .. 50.39 178.90 630.000 March 11 .. 48.88 174.68 950.000 March 15 .. 48.01 172.37 370,000 March 18 .. 48.7 174.95 600,000