COMMERCIAL

Press, Volume LXXXIII, Issue 25363, 10 December 1947, Page 4

COMMERCIAL

STOCK EXCHANGES GOOD VOLUME OF BUSINESS A good volume of business was recorded on the Christchurch Stock Exchange yesterday. with activity in Government stocks. Features of the day were a drop in New Zealand Breweries and the easing in Australian industrials and chain stores. DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change £ s. d. Varia-

Sales Reported: Unlisted British Standard Cement (200) .. 0 3 0 AUCKLAND Sales.—ls/9/57-60, 3i per cent. (£1545), £102; National Savings, 4/10/49 (£100), £lO6 7s 6d; Dominion Breweries (5), 735; N.Z. Breweries (200), 555, and (100), 55s 3d; N.Z. Insurance (30), £5 0s 3d; Kauri Timber ■ (300), 365; Felt and Textiles, Aust. (1500), 645; Felt and Textiles, N.Z. (300), 575; Colonial Sugar (6), £5B 7s 6d, and (20), £5B 10»; Consolidated Brick (300), 14s 9d; Electro'. Zinc (300), 735; Farmers’ Trading (100), 39s 6d; Fletchers (100), 38s; Coles (SO), 82s 3d; Macdufts (90), 60s; Macky, Logan (So) x 455; Milne and Choyce, deb. (262), 40s; Morts Dock (200), 28s; Niven (200), 395; Reid Rubber (100), 26s 9d; Silknit, N.Z. (100), 325; Woolworths, Sydney (100), 24s lOd; Woolworths Properties (300), 31s 6d; Wellington Alluvials (50), 3s lid. Unlisted: Henderson and Pollard (259), 255. WELLINGTON Sales.—Late Monday: N.Z. Breweries, ex div. (50), 55s 6d; Wbolworths, Ltd. (400), 255; Macduffs, Ltd., pref. (400), 30s; Wm. Cable and Co., ex div. (200), 345; Electrolytic Zinc, ord. (100), 735; Macduffs, Ltd., 2 sales (200), 60s. Yesterday: 15/12/53-56 (£350), £lOl 2s 6d; 21 per cent., 15/6/47-49 (£500), £lOO ss; N.Z. Breweries, ex div. (100), 55s 6d; 3 per cent., 1/8/51-54 (£700), £lOO 12s fld; .3 per cent., 15/4/60-63 2 sales (£3330), £99 15s; 3 per cent., 15/12/53-56 (£1325), £lOl 2s 6d; Kauri Timber, ex div. (200), 365; Felt and Textiles, N.Z. (50), 57s 3d, and (150), 575; Macduffs, Ltd., 2 sales (180), 60s 3d, (90) 60s, and (300) preference, 29s 6d; Farmers’ Trading, 2 sales (200), 39s 6d; J. J. Niven and Co. (200), 395; Dunlop. N.Z., Ltd., ord. (200), 14s 6d; N.Z. Drug (500), £6; Wool worths, Ltd., 3 sales (600), 255. Unlisted: Whakatane Paper Mills (100), Bs. DUNEDIN Sales.—Mount Lyell (600), 30s 3d; Ara--3 PC - Dec ’ i 95 3 -56 -Tj Sa w? S xi ßep ,°£j ed ' —Aust- Paper (100), 38s of Australasia, late sale (100), 31s 2d; National Bank of Austra- £ 1 . 60)^ 19s J2. d: « Hu<Jdart Parker. or ?' 81s 9d : Nz - Paper Mills, late d 41 ’ -i' Gibson and Howes B° nds Hosiery (150), 59s 10Id; Mosgiel (55), £l5 7s 6df INVERCARGILL i Reported.—Christchurch Gas, odd % l Ol Lr P £l d (171) ’ 13 ®I N.Z. Drug (50), £ B; jr H ’ 558 9d: NZ - Farmers’ 31s 8d; 1955-58, 3 p.c. »j lOO 7 s 6d; Capel Court, Ltd. 3d « Winchcombe Carson (100), 38s (200) ’ 10s 6d : Myttons, JJ d: Myttons, Ltd. (50), 54s Id; Millaquin Sugar (150), 55s Id. LATEST QUOTATIONS Buyers. Sellers. £ S. d. £ s. d.

OTHER EXCHANGES SYDNEY The Sydney Stock Exchange yesterday rallied and threw off much of its recent hesitancy. The turnover expanded, and Colonial Sugar advanced to its highest level for over a year. Sales.—Bank of New South Wales, £37; Commercial Bank of Australia, 21s 9d; Union Bank, £11; Howard Smith, 275; Tooths, 83s fld; Dalgetys, £ll 15s; Mount Lyell, 31s 2‘id; Broken Hill Prop., 56s 3d; New Broken Hill, 475; Kuala Kampar. 25s 3d; RaWang, 10s; Arahura, 34s 3d; Ngahere, 9s 3d; A.C.1., 65s 9d; Associated News, 18s 9d, and preference, 22s fld: Australian Iron and Steel, pref., 38s fld; Anthony Hordern, 295; British Tobacco. 52s 6d; Colonial Sugar, £59 7s fld; Drug Houses, 41s fid; Dunlop. 43a: Felt and Textiles, 64s 9d; Kandos, XBs; Woolworths, 24s RHfcd; W. R. Cflfrpenter, 47s fld. MELBOURNE Sales on the Melbourne Stock Exchange yesterday were:—Cox Bros., 10s sd; Dunlop, 43s 3d; Gordon and Gotch, 96s 3d; Masonite, 48s; Woolworths, 255; Yarra Falls, Sit 6d; North Broken Hill. 77s 6d; Emperor, 18s 3d: Lolomfl. 235: Mount Morgan, Ils 7d; Wellington Alluvials, 4s Id.

OUTLOOK FOR WOOL' BRADFORD- MARKET FIRM (Special Correspondent N.ZPA.) LONDON. December 8. Although new business is less plentiful, the Bradford wool, top, and Y®rn market is firm at recent levels and tope quotations are unchanged compared witn last weeld says the international Wool Secretariat’s weekly markets report. Commercial advices’ report that American buyers are active in Dominions markets for good style wools, but that the aemand in Australia and at the c *P® M ", a , B been less firm for faulty sorts. Britains wool tops output is sold until well into next year, and as tops production Is continuing to rise, traders are urging the abandonment of directional control of tops usage, on the grounds that it is no longer necessary. Britain’s tops production is now approaching s.ooo,ooolb*Aveekly, compared with half that quantity during the later stages of the war. It is now Delieved to be equal to all demands without the need for official direction of output into this or that channel. Disappointment is expressed in tne Bradford market at the report of the Sydney shipping clerks’ strike, which is understood to have delayed wool shipments. LONDON SALES BANK OF N.Z. REPORT The Christchurch branch of the Bank of New Zealand has received the following cabled advice from Its London office, under date December S.— The sales have closed with good inquiry from all branches of the trade. There was strong general competition. The previous easier tendency for inferior types mainly disappeared. Greasy Merinos unchanged. New Zealand scoured crossbred prices are fully firm, greasy crossbred easier, current quotations for wools of average con-

VEGETABLES, FRUIT, AND MEAT A scarcity of oranges and lemons still obtains. Bananas should be in the shops within the next few days. Details of prices are as under:—

Fruit and Vegetables Bananas, lb, 7d; lemons, lb. Ha; (Australian), Is Ijd; oranges (Australian), lb, lid; (Island) 7d; grapefruit, lb, lid; cabbages, lb, 33d; spring cabbage, lb, 32a. spring carrots, lb, 6jd; onions, lb. fid; parsnips, lb, 4Jd; spring parsnips, lb, Aid; potatoes, lb, 2d; silver beet, lb, sd; spring swedes, lb, 3Jd; kumeras, lb, 6d (all governed by price orders).. For purposes of comparison Canterbury December wholesale prices as given in the latest price order are: spring carrots, 41s cwt or 4Jd lb; parsnips, cwt, 27s 6d, or about 3d lb; spring parsnips, 41s cwt, or 4£d lb; spring swedes, 22s 6d cwt, or about lb; cabbage, main crop, 17s 6d, or about 2d lb; spring cabbage, 21s cwt, or about £d lb; silver beet, 295, or about 3Jd lb; onions, f.a.q., £34 a ton. In the case of the following lines, retail prices afl-e given .-—spring beetroot (bunch), 6d; spring turnips (bunch), 6d; spring cauliflowers, 6d to Is; lettuce, 3d to 6d; passion fruit, 6d to 8d each; rhubarb (bunch), 9d to Is 3d; spinach (bunch), 6d; radishes (bunch), 3d; new potatoes, 6d per lb; asparagus (bunch). Is 3d to 2s; peas, 6d to lOd per lb; cucumbers, 2s per lb; broad beans, 6d per lb; tomatoes, 2s 6d to 3s 6d per lb; gooseberries, Is 6d per lb; strawberries (punnet), 2s 6d to 3s 6d; cherries, 3s to 4s per lb; Jamaican orange juice, 2s 3d a tin. Eggs Heavy grade, 2s BJd a dozen; standard, 2s 6d; medium, 2s sjd; pullets, 2s 3jd; ducks, 2s 6d. Retail Meat Prices Veal.—Fillet, Is, lOd; loin, lOd, 8d; stewing, 7d, 6d; soup meat, sd, 4d; steak. Is Id, lid; rump steak, Is Id, Is Id; cutlets, Is Id, lid; rolled, lid, fld; stuffed. Is, lOd. Beef.—-Rump steak, Is 6d, Is 3d; fillet. Is Bd, Is 4Jd; porter house steak (bone in). Is 6d, Is 3d, bone out, Is lOd, Is fld; tenderboy steak, Is 2d, ll}d; thick flank or top rump steak. Is Id. lid; topside steak. Is Id, lid; skirt steak, is, 9Jd; chuck steak, 10jd, 9d; blade or baolor steak. Is, lOd; sirloin, Is 2d, llid; sirloin, rolled and boners, Is sd, Is 2d; prime ribs, Hid, 9Jd; prime ribs, rolled and boneless, Is 2jd, Is; chuck ribs, BJd, 7d; chuck ribs, rolled and boneless, lljd, 94d; back ribs, rolled and Boneless, Is, lOd; wing ribs, bone in, Is 2s, 11 Jd, bone out, Is 6d, Is 3d; blade, rolled and boneless, lid, 9d; topside, Is id, lid; gravy beef and shin beef, BJd, 7d; corned silverside. Is lid, lid; rolled brisket, corned or otherwise, lOd, Bid; brisket on the bone, s}d, sd; flat ribbed, 6id, sid. Legs and shins, whole, sd. 4Jd; halves, thick end, s)d, sd; knuckle end, sd, 4Jd; thin flanked, 4id, 4d. Mutton.—Legs, whole. Is lid, lid; shank end- up to six lb. Is 2id, Is; thick end. Is lid; lid; middle fillet. Is 21d, Is. Four quarters, whole, Bd, 6id; shank end. Bid, 7d; Spanish neck, 9id, 3d. Shoulders, Whole, 10d, 8d; shank end, 10id. Bid; blade end, lid, fld; neck and breast, 7id, 6Jd; neck, best end.. 9d, 7id; scrag end, 7id, 61d. Loin, middle, Is Id, lOjd; . rib end, lid, 9d; chops, loin middle. Is 3d, Is ©id; rib, is, lOd; shoulder, trimmed. Is, lOd; leg or chump, Is 2id, Is; Spanish neck, 10id, Bjd; stewing, lOd, BJd; flaps, 6d, sd; flaps, whole, 3d, 2]d; cutlets, French, Is sd, Is 2d; stuffed roll. Is 3d, Is Oid. Prices for third grade mutton from id to 2d below second-grade schedule. Pork.—Stuffed, Is sid, Is 2Jd; rolled. Is sd, Is 2d; leg. Is 3d, Is Oid, Loin, Is 3d, Is Oid. Chops, loin. Is sd, Is 2duJoreloin, Is 2d, lljd. Foreloin, Is Id, lOld. Corned, hand, Is 9d; belley. Is lid. lid.

STOCK SALES TINWALD Values remained firm at late rates at the Tinwald stock sale yesterday when there was an average yarding. Wethers realised up to 37s 6d for medium-weights, from 38s to 43s 6d for prime weights, and from 44s to 46s 4d for extra prime quality, L Sutton (Ashburton) sola four at 46b Two-tooth ewes made from 40s to 44s 4d, while older ewes brought up to 26s for medium-weights, from 27s to 29a fld for prime quality, and from 30s to 34s 4d for extra prime quality. J. J. Richardson (Springburn) sold 22 at from 27s lOd to 34s 4d. Fifty-one lambs brought 36s Id, 15 brought from 37s lOd to 41s 4d, four sold at 42s 4d, and three at 44s 4d. There was a good sale of hoggets, the best prices being 38s 4d to 44s 7d for 29, 37s 4d to 44s 4d for 83. and 37s lOd to 44s 4d for 11. Eleven Black Poll heifers realised £l3 10s each. Cows made £9 17s 6d, £l2 7s 6d, and £l4 2s 6d. TEMUKA "The Press” Special Service TEMUKA, December 9. The 170 head of fat cattle yarded at yesterday’s sale comprised several excellent lines of steers and heifers. Competition was slow and erratic at times, but, with outside competition, values held firm, with a slight easing of odd pens. large penning of store cattle held very firm in spite of dry conditions. Prime heavy steers made from £2l 171 6d to £25 7s 6d; light to medium steers, £l6 2s 6d to £l9 17s fld; prime heifers, £l5 2s 6d to £l7 2s 6d; light to medium heifers, £lO 2s 6d to £l3 7s 6d; prime fat cows, £l4 7s 6d to £l7 2s 6d; light to medium cows, £7 17s 6d to £ll 7s 6d.

Store Cattle.—-Bulls, £8 to £lO ss; yearling steers and heifers, £7 2s fld to £ll 3s; 18 months steers and heifers, £lO 2s 6d to £l2 15s; empty cows, to £5 8s; calves, to £4 10s; dairy cows and heifers, £lO to £l7 10s.

The fat sheep yarding was a large one. and included several lines of quality with hoggets and. two-shear wethers.’. Competition was steady and values held firm. There was keen competition for about 100 fat lambs. Prices were:—prime heavy wethers, 47s lOd to 52s 4d; light to medium wethers, 38s Id to 425; prime heavy ewes, 33s Id to 35s Id: light to medium ewes, 24s Id to 28s Id; prime hoggets, 42s lOd to 45s Id; prime fat lambs, 38s 4d to 42s 4d. COMPANY NEWS Donaghy’s To Increase Capital.—The directors of Donaghy’s Rope and Twine Company, Ltd., advise that the company has been authorised to increase its nominal capital from £125,000 to £250,000. A meeting will be held on January 19, and, if the shareholders approve the increase, the board proposes to issue 62.500 £1 shares at a premium of 20s t share as fljfed by the Minister of Finance. The issue will be made to existing shareholders in the proportion of one new share for every two shares held, and 20s will be payable on March 1, and 20s On April 1. Traders’ Finance Corporation.—Proposals to increase the capital of the Traders’ Finance Corporation, Ltd., are to be submitted to an extraordinary meeting of shareholders on December 19. It is proposed to increase the company’s capital from £122.500. divided Into 140,000 shares of 17a fld each, to £183.750, by the creation of 70,000 shares of 17s fld each, ranking in all respects equally with existing shares. Subject to the consent of the Minister of Finance the shares will be Offered at par to existing shareholders on the basis of one for two.—(P.S.S.). MINING Austral New Zealand.—This company reports frpm Cromwell that for the 14 days ended December 6, the dredge operated for 223 hours, producing 407 ounces of bullion.—(PA.)

tion. 2»fc p.c., 1953 (£530) 97 5 0 mm 3 p.c., 1957-60 (£395) .. 99 12 6 mm Macduffs (100; 100) N.Z. Farm. Fertiliser 3 0 0 N.C. (100) 1 11 9 — Sales Reported: Unlistec British Standard Cement (150) 0 3 0 — Sales Reported: 3 p.c. Dec., 1953-56 (£600) Listed 101 7 6 — 3 p.c., 1955-58 (£3500) .. 100 7 6 MM N.Z. Breweries (100; 200) 2 15 0 -1/6 Mosgiel Woollens (55) •.. B.H.P. (50; 50) 15. 7 6 —m 2 15 9 -3d Fletcher Holdings (100; N.Z. Farm. Fertiliser (200) 1 11 9 — Mount Lyell (100) 1 10 3 4-3d N.Z. Guar. Corpn. (300) 0 5 6 4-3d

Comm, of Aust. .. — 1 2 0 Comm, of Sydney —m 24 15 0 Nat. of A’sia (£1) 1 11 0 1 11 6 (12/6) 0 19 8 National of N.Z., c.d. — •3 12 6 Union 10 19 0 Breweries Bailing, x.d. .. • 119 6 Dunedin 2 0 g New Zealand 2 16 0 Swan mm 2 3 0 Coal— Taupirl .. mm 4 12 6 Frozen MeatCanterbury IS 10 0 16 10 0 Gear 1 15 0 N.Z. Refrig., pd. 0 19 10 10$ paid Southland o i«T 6 10 0 3 9 6 Waitaki __ 9 2 6 GasChristchurch .. 1 6 8 17 1 Tirnaru .. 0 8 0 Insurance— F.A.M.E. M— 12 0 Pref. 1 4 6 National 6 South British 4 10 0 4 10 6 Standard mm 4 8 6 Loan and C.F.C.A., ord. 1 5 0 Dalgety 11 5 0 GoIdsbrough, Mor., —m 1 16 0 Invincible Build. .. 5 10 0 Mutual Benefit 19 10 0 MM N.ZJF. Co-op. 0 11. 0 0 11 2 First pref. mm 7 7 6 “A" pref. 4 12 0 Mm “B” pref. A 11 6 MM 4’i p.c. Stk., '50 mm 103 0 0 Perm. Investment 11 10 0 MM Woollens— Felt and Textiles of N.Z. mm 2 17 6 Kaiapoi (17s pd.) .. — 17 3 Pref. 1 6 6' MM Tirnaru 1 9 3 MM Wellington 10 2 6 MM Miscellaneous— Alloy Steel (N.Z.) mm 2 16 0 Aust. Fd. Invest. 0 6 2 MM Beath and Co. 2 12 6 MM (Is paid) 0 19 0 MM Booth Mac., pref. •— 0 13 9 Brit. Tobacco 2 13 0 Broken Hill Pty. 2 15 3 2 15 9 Beggs 1 14 0 MM Canty. Roller Flour 0 16 6 M— Claude Neon, N.Z. 2 6 0 MM Colonial Sugar 58 0 0 MM Dunlop, N.Z. 0 14 3 MM Electro. Zinc, ord. MM 3 13 6 Pref. —— 3 13 0 Fletcher Holdings 1 17 6 1 18 0 Frozen Products .. 1 0 6 MM G. J. Coles 4 2 6 Gordon and Gotch —. 4 17 0 Hay’s. Ltd. N.F.P. 3 10 0 3 12 0 I.C.I.A.N.Z., pf. .. 1 7 0 18 3 K.D.V. Boxes m_ 014 0 Macky Logan . i 2 3 6 MM Mas. Struthers, £1 paid 1 5 6 17 0 14s paid 0 16 6 MM 10s paid — 0 13 0 Milburn Lime 1 14 9 —— M.K. Manufacturers 0 14 0 0 14 3 Morris Hedstrom, c.d. *. 2 16 0 MM Morts Dock 1 7 8 18 2 Macduffs mm 3 0 0 McKenzies, c.d. MM 3 10 0 National Electric .. 2 14 0 MM N.Z. Drug mm 6 0 0 N.Z.F. Fertiliser .. 1 11 6 MM N.Z. Forest Prdd. mm 0 6 6 N.Z. Newspapers .. 2 11 6 Niven and Co. mm 2 0 0 Quill, Morris (1936) MM 2 0 .0 Relax, Ltd., pref. 1 2 0 MM Taringamutu Tlmb. —• 0 19 6 Taupo Totara 0 18 9 MM Whit, and Tombs 8 3 6 M— W’worths (ord.) .. 1 4 8 1 4 10 (N.Z.), ord. 1 10 0 1 10 9 W. R. Cook and Son 0 6 0 MM Zealandia Soap 0 16 5 —- UNLISTED STOCK Amalgam’d Batt. 1 1 6 MM Pref. 1 0 6 MM Aust. Invest. Trust 0 16 9 MM Avon Metal 1 2 6 MM British Cement I (con.), c.d. 0 2 1) MM Ch’ch. Press 13 5 0 MM Korina Textiles 16 0 Mount Cook Tours mm 0 10 0 ■ Marathon Rubber 1 7 0 MM N.Z. Fisheries — 0 18 6 Para Rubber 1 3 0 MM Reece Ltd., E. (pf.) 0 1 0 0 16 Regent Theatre .. 0 11 0 MM Soales °C” (pref.). z x.d. .0 2 6 MM Smith Wylie 'O 19 0 MM Whakatane Paper 0 7 8 0 8 0

dition: — . Mer Supe7, 60/64’s .. •• 39 to 42 KaMbrods- 294,033 M/56-s II .. •• 274 to 31 Crossbreds— 24 to 27 4s/50’s .. 22 to 24 46/48's 21 to 23 44/46's .. .. •• 20 “ 21J