COMMERCIAL

Press, Volume LXXXIII, Issue 25328, 30 October 1947, Page 8

COMMERCIAL

STOCK EXCHANGES MARKETS AGAIN QUIET Markets continued quiet on the Christchurch Stock Exchange yesterday, and prices were irregular. Buyers of loan and agency shares were prominent and the few sellers who appeared failed to do business. Woolworths, N.Z., Ltd., following the announcement of the increased dividend, were firmer. _ DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change £ s. d. Varia-

AUCKLAND Sales.—llo/53, 2 J p.c. (£2800), £97; 15/12/53-56, 3 p.c. (£250), £lOO 12s 6d; 15/2/55-58, 3 p.c. (£800), £100; 15/4/56-59, 3 p.c. (£400), £99 10s; 15/11/57-60, 3 p.C. (£100Q), £lOO 15s; 15/4/60-63, 3 p.C. (£515), £99 10s; 15/7/61-63, 3 p.c. (£1850), £lOO 2s 6d; Liberty Bonds, 15/9/49 (100), 22s 8d; National Savings, 15/6/50 (£100). £lO4 4s; 14/12/48 (£100), £96 5s 3d, and 29/6/48 (£500), £lll ss; National Bank N.Z. (95), 65s 9d; (11), £37 15s; Dominion Breweries (200), 735; N.Z. Breweries (200), 58s; Pukemiro Coal (200). 365; Auckland Zlas (3637), 8s; South British Insurance 1250), 91s 6d; N.Z. Insurance (450), £5 Is; Standard Insurance (150), 89s; F.A.C., £2 paid (100), 50s, and "B” pref. (250), 28s 3d; North Auckland Farmers, “B” pref. (100), 17s; Huddart Parker (250), 1 58s 7»/ 2 d; A.C.I. (50), 66s 6d. and (50), 67s 6d; B.H. Pty (100), 535, and (100), 52s 9d; Consolidated Brick (500), 14s 9d; Dunlop, Aus. (200), 39s 9d: Fletcher Holdings (200), 38s; 1.C.1. (A. and N.Z.), pref. (200), 27s 3d; Radio, 1936 (800), 17s; Sanford, pref. (200), 27s 6d; Woolworths. N.Z. (100), 30s 9d, and (400), 31s; Woolworths Holdings. South Africa (100), 43s 6d; Martha (344), 5s 7d, and (500), 5s 8d; Emperor (300), 18s 3d; Mount Morgan (178), 10s Bd, and (1000), 10s 7d; Kanieri (150), 235. WELLINGTON Sales.—Late Tuesday: 3 p.c. 15/11/57-60 (£500), £lOO 15s; South British Insurance (100), 91s 6d; Felt and Textiles, Aust (100), 60s 6d; McKenzies Dept. Stores, 2 sales (400), 67s 6d. Sales yesterday:2 22y 2 p.c., 15/6/47-49 (£200), £lOO 2s 6d; Felt and Textiles, Aust. (100), 60s 6d; 21 p.c., 1/10/53 (£2800), £97; Bank of New South Wales, cum div. (5), £37 15s: Auckland Gas, 3 sales (1237), 8s; N.Z. Insurance (100), £5 Is; South British Insurance (150), 91s 6d; Felt and Textiles. Aust. (156), 60s 3d; Macduffs, Ltd., 2 sales (300), 555; Woolworths, Ltd., ex div. (132), 24s 3d; Woolworths N.Z., Ltd., cum div. (100), 31s 3d; Mount Morgan (300), 10s 9d; 3(4 p.c., 57-60 (£510), £lOl 12s 6d.

DUNEDIN Sales.—3’/ 2 p.c., 1953-57 (£500), £lO2-12s Sales Reported.—Mount Lyell, late sale (100), 30s; 3 p.c., 1956-59 (£500), £99 7s 6d; 3>4 p.c., 1957-60 (£2060), £lOl 12s 6d; 4 p.c., 1949-52 (£2010), £lO3 ss; 3*/ a p.c., 1953-57 (£1185), £lO2 12s 6d; 4 p.c., 195255 (£1190), £lO4 17s 6d; Kaiapoi Woollen, ord. (100). 27s 3d; Woolworths, N.Z. (100). 31s. Unlisted: Korma Textiles (100), 295.

OTHER EXCHANGES SYDNEY A slightly easier tone developed in some sections of the Sydney Stock Exchange yesterday. Falls, which exceeded rises were, however, of a minor nature. Colonial Sugar went to its highest level this year Sales.—Bank New South Wales, £3B 12s T? : J 9 o ?2 n 3, erc . ial Bank of Sydney, £24 15s; Huddart Parker, 58s 6d; Burns Philp, 87s 9d; Tooths, 80s 9d; Wilcox Mofflin, 18s 6dMount Lyell. 29s 9d; Zinc Corporation’ new issue. £7, old issue. £7 Is 6d; Broken Hill Prop.. 53s 6d; North Broken Hill, 78s 6d; South Broken Hill, 43s 3d; Placer Development, £9: A.C.1., 66s 6d; Associated News, pref., 235: Anthony Hordern. 30s 6d; Australian Paper, 39s 3d: Colonial Sugai, £59; Drug Houses, 42s 3d; Felt and Textiles, 60s; Wool worths, 24s 3d; Yarra Falls, 62s 6d. ’

AUSTRALIAN TRADING BANKS • TOTAL ASSETS (N.Z. Press Association—Copyright) CANBERRA, October 28. . The nine trading banks which the Australian Government proposes to nationalise have assets totalling £716.942.000. The Commonwealth Bank's assets total £63,403,000. and th State banks have assets totalling £42,693,000. These figures were released by the Commonwealth Statistician to-day. Of the trading banks assets, £236.253.000 is lodged in a special account with the Commonwealth Bank. This account was established as a war-time measure by the Government. The liabilities of the nine trading banks are given as £651,397,000, of which deposits make up £638,915,000.

COMPANY NEWS WOOLWORTHS N.Z., LTD.’S PROFITS INCREASE IN DIVIDEND RATE (P.A.) WELLINGTON, October 29. The directors of Woolworths, N.Z.. Ltd., announce, subject to completion of audit, that the profit for the year ended October 2, 1947, amounted to £355,762, which ia subject to an amount for taxation of £215,000. The eighteenth annual general meeting will be held on December 2. Advice has also been received that a final dividend of 10 per cent., which, with 5 per cent, already paid, will make 15 per cent, for the year, together with a bonus of 2 per cent, on the paid-up ordinary capital, is recommended for payment on December 15, 1947, based on shareholdings as at November 29. Last year’s dividend was 14-per cent. KORMA TEXTILES MERGER WITH FELT AND TEXTILES, AUSTRALIA (P.A.) AUCKLAND, October 29. The directors of Korma Textiles, New Zealand, Ltd., have announced that Felt and Textiles of Australia, Ltd., has acquired frgm the present holders all issued ordinary shares in the capital of the company. This association, the directors state, will have many advantages to Korma Textiles (New Zealand), Ltd., as Felt and Textiles of Australia, Ltd., is the source of some of its principal raw material supplies. Korma Textiles (New Zealand), Ltd., will continue to be ad-

ministered by its own board of directors. New Zealand Paper Mills’ Dividend.— The directors of New Zealand Paper Mills have authorised the payment of an interim dividend of 3 per cent., payable November 28.—(PA.) . Alloy Steel Dividend.—The directors of Alloy Steel (N.Z.), Ltd.. have declared an interim dividend, payable Immediately, of 3i per cent.—(P.A.) Australia’s Output of Rubber Tyres.— Australia’s output of rubber tyres and tubes is being maintained well above pre-war and last year’s levels, according to a new series added to the Commonwealth Statistician’s monthly production statement. In August 150,000 tyres for motor-cycles, cars, trucks, aeroplanes, etc., were produced, with a further 126,000 cycle tyres. This compares with the monthly averages of 140,000 and 100,000 for 1946-47; and of 113,000 and 70,000 for 1938-39. Rubber tubes numbering 142,000 for motor-cycles, cars, trucks, aeroplanes, and 74,000 for cycles also were well above figures for previous years. Morris Hedstrom.—An interim dividend of 5 per cent, on ordinary shares is payable on December 31. Books will close on December 19.—(P.A.) Goldsbrough Mort.—By a judgment of the Supreme Court in Melbourne, Goldsbrough Mort and Company, Ltd., will have to repay its debenture capital of £1.407,600 in sterling. This involves 25 per cent, (or £350,000) more than if the amount were in Australian currency. Provision lips been made by the company for this repayment on January 1, 1948. *

BRITAIN’S EGG SHORTAGE SOURCES OF SUPPLY LONDON, October 8. Allocations of shell eggs in the United Kingdom have been supplemented by the arrival of several cargoes of Canadian shell eggs, and it is reported that a cargo liner will leave Montreal for Britain next week with 10,000,000 fresh eggs, the season’s largest consignment. Some suplies of Polish and Australian eggs have also been released, but these imports merely serve to offset the diminishing production of home and Irish eggs and the egg supply outlook continues bleak for the ordinary consumer. The fact that eggs appear to be readily obtainable in the black market providing the outsize” price demanded is forthcoming, provides another reason for the ordinary consumer’s shell egg allocation being only about one a fortnight at present.

Further light has been thrown on the reasons for the egg supplies from Eire being much smaller than formerly. Ordinary egg prices in Dublin are reported to have reached 5s 6d a dozen—the highest price in the open market since 1918. The seasonal fall in egg production is, ot course, partly responsible for the price advance, but is claimed to be due also to the prohibitive prices ruling for meat m Eire which are forcing many families to revert to eggs as a staple food, which.

incidentally illustrates the enormous unfilled demand for eggs awaiting satisfaction in Britain where meat is out of reach, not because of high prices but as a result of the unavoidable rigid rationing.

31 p.C.? 1957-60 (£665) .. 101 10 tion. 0 — G. J. Coles (50) 4 1 9 —3d Mount Morgan (300) 0 10 10 +8Jd Austral N.Z. (100) 0 8 0 —3d Sales Reported 3 p.c., 1961-63 (£250) .. 100 0 0 — N.Z. Brew. (200; 100) .. 2 18 0 —3d Kaiapoi Woollens (200) .. 1 7 3 +3d B.H.P. (200; 100), cum div. 2 13 3 +1/6 Mt. Morg. (100) (L.S.Y.) 0 10 6 +4id Mt. Morg. (300) (L.S.Y.) 0 10 6J +5d Mt. Morg. (50) (L.S.Y.) 0 10 61 +5d

LATEST QUOTATIONS Buyers. Selters £ s. d. £ s. a. Banks— Comm, of Aust. . 1 1 8 1 2 1 Pref. 10 10 0 — . Comm, of Sydne — 25 0 0 E., S.. and A. — 7 0 0 Natl, of A’asia (£1) c.d. 1 11 0 — 12s 6d, c.d. —T* 1 2 0 Natl, of N.Z. 3 5 0 3 6 6 N.S.W., c.d. 37 17 6 — Union 10 18 0 — Breweries— Beilins • 1 16 9 — Dominion 3 12 0 3 13 6 New Zealand 2 18 0 2 18 3 Swan — 2 2 6 Coal— Kaitangata —- 1 18 0 Frozen Meat— Canterbury 15 10 0 16 5 0 Cantby. (pref.) 8 2 6 — Gear 1 13 0 — N.Zz Refrig. (10 paid) 0 19 10 1 0 0 Nth. Cant, (pf.) . 1 3 6 Southland . 3 4 0 •— GasAuckland 0 7 8 — Christchurch' — 1 6 5 (10s paid) — 0 13 0 Timaru 0 8 4 ' 0 11 0 Insurance— F.A.M.E. i 5 6 (Pref.) — 1 7 6 National — 1 7 0 Standard — 4 12 0 Loan and Agency— C.F.C.A. (ord.) 1 7 0 1 7 6 Chch. Bldg., c.d. . 21 10 0 —— Dalgety 10 15 0 — Invinc. Bldg. 5 7 6 —— Mutual Benefit . . 19 5 0 —— . Nat. Mort. “A” . 4 14 6 —- ••B” 2 6 9 N.Z.F. Co-op. ' . — 0 12 0 1st Pref. 7 5 0 7 10 0 "A” Pref. 4 11 0 *’B” Pref. 4 11 0 —— 4J p.c. Stk., ’50 . 102 0 0 __ 4A p.c. Stk., t .’55 . 102 0 0 N.Z. Guam. Corp — . 0 5 6 Perm. Invest. 11 10 0 Woollens—

Bruce 2 7 0 Kaiapoi (17s pd.) . Miscellaneous— 1 7 6 Alloy Steel (N.Z. Bartholomew Tim 2 14 6 2 16 0 1 12 0 1 13 6 Aust. C.I., c.d. 3 2 0 Beath and Co. 2 9 9 .—. Booth Mac., pref — 0 13 9 British Tobacco . 2 9 9 2 10 9 Brok. Hill Pty., c.d 2 13 0 2 13 6 Chas. Begg, rts. . 0 12 3 David Jones — 2 18 0 Colonial Sugar 57 12 6 Consol. Brick, x.r 0 14 6 0 14 10 Cribb and Foote . 0 19 0 Donaghy’s Rope 3 15 0 4 2 6 Dunlop Rubber . — 2 0 0 Dunlop, N.Z., pref. 0 15 11 0 16 0 Electro. Zinc, ord —. 3 13 0 Evans Atlas 6 0 Fletcher Hold. 1 17 6 Frozen Products . 1 0 0 General Industries 1 12 0 G. J. Coles 4 1 6 2 6 Hay’s. Ltd. (N.F.P.) — 3 11 0 Hume Pipe (Aufet.) 1 5 0 K.D.V. Boxes Mas. Struthers, £ 1 paid .. 1 0 14 0 4 6 14s paid 0 16 10s paid Matches (N.Z.) Metters (N.Z.) 0 12 0 i 6 0 0 Macky Logan 2 3 0 McKendrick Bros j 14 0 Morris Hedstrom . 2 16 0 Morts Dock 1 6 3 1 6 9 McKenzies 3 8 o National Electric . 2 15 9 N.Z. Paper Mills . 2 4 0 North. Roller 1 10 9 Quill Morris (1936 2 0 0 Reid Rubber 1 7 0 (part, pd.) 0 10 3 Sanford 0 12 0 Taringamutu Timb 0 0 Taupo Totara —» 0 17 6 United Provs., x.d 0 18 6 1 11 6 Wilcox, Moffiin . o 19 0 Wilson’s Cement . 0 18 6 W’worths, ord. 1 4 8 N.Z., ord., c.d. . 1 11 0 H 2 W. R. Carpenter . 2 3 9 Zealandia Soap 0 16 0 UNLISTEI STOCKS Amalg. Batteries . 6 6 — Aust. Inv. Trust o 18 Christchurch Pres 13 10 0 Korma Text, (pf.) 2 9 Marathon . 1 6 0 Prudential Building 1 1 6 Regent Theatre . 0 15 3 0 0 19 0 Tudor Hosiery Selfridges (N.Z.) 1 1 0 — pref. 2 2 0 Taramakau (5s pd. 0 7 9 o Whak. Paper 0 7 11 0 8 1