COMMERCIAL

Press, Volume LXXXIV, Issue 25583, 26 August 1948, Page 6

COMMERCIAL

STOCK EXCHANGES AUSTRALIAN STOCKS NOT FAVOURED Markets continifed quiet on the Christchurch Stock Exchange yesterday, and the only dealings were in New Zealand stocks. Dunlop, New Zealand, were 2d easier in a sale at 23s 3d. Buyers for Australian shares raised their bids further, but few sellers appeared. DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change £ s. d. Var’n. 3 p.c., 1956-59 (£400; £300; £200) ..100 5 0 Dunlop. N.Z. (100) 1 3 3 -2d Sales on ’Change—Unlisted Con. Brick, pref. (100) 1 0 0 - Sales Reported General Finance (500) .. 1 2 6 N.C. Smith and Smith, pref. (200) 15®AUCKLAND Sales.—ls/5/53-56, 3 per cent. (£550), £lOO 10s; 15/12/53-56, 3 per cent. (£1250), £lOO ss; 15/4/56-59, 3 per cent. (£1000), £lOO 7s 6d: J5/11/57-60, 3 per cent. (£3670), £lOO ss: 15/4/60-63, 3 per cent. (£3830), £lOO ss; 15/7/62-64, 3 per cent. (£400), £99 7s 6d; 31/5/54-58, 4 per cent. (£600), £lO5 7s 6d; Comm. Bank of Aus. (200), 225; Dom. Breweries (50), 675; N.Z. Breweries (100), 54s 3d; Taupiri (56), 935; Auckland Gas <600), 7s 9d; National Insurance (200), 25s sd: Devonport Ferry (200), 265; Nat. Timber (384), Ils; Fletchers (100). 31s 9d, and (100), 31s 6d; Coles (50), 81s; N Z. Newspapers (86), 48s; Phillips Imp. (600), 68s 6d; Woolworths, Sydney, rights (14), 6s 4d, and (66), 6s 6d; Woolworths, South Africa (400), 325. Unlisted.—Korma, pref. (1600). 265; Winstone, 10s paid (400), 19s.

WELLINGTON Sales—3 uer cent., 1957-60 (£200), £lOO 2s 6d; South British Insurance (50), 88s; National Insurance, late sale (200), 25s sd; Felt and Textiles N.Z., pref., late sale (300), 26s 9d; Woolworths, Ltd., rights, late sale (150), 6s, and (10) 6s 9d; Mount Morgan rights 4 sales (417), Is; Korma preference (1000), 265: Tingey, ordinary (300). 20s. DUNEDIN Sales Reported.—3 p.c. 1957-60 (£3670), (£2000), £lOO 10s; 1960-63 (£3830), £lOO ss; 1981-63 (£500). £99 7s 6d; N.Z. Breweries (500), 54s 3d; N.Z. Refrigerating cont. (300), 18s 9d.

OTHER EXCHANGES SYDNEY After Tuesday’s weakening trend the Sydney Stock Exchange yesterday developed a somewhat steadier tone. Most industrial leaders held their ground. Sales—Bank of Australasia, £ll 7s; Commercial Banking of Sydney, £24 ss; Tooths, 775; Associated News., 18s, and pref., 22s 6d; A.C.1., 65s 3d; British Tobacco. 50s; Broken Hill Prop., 595: Dunlop, 45s 9d; Howard Smith, 25s 6d; Wilcox MoffliiL 80s 9d; Woolworths, 23s IJd; Mount Isa, 40s 6d; Broken Hill North, 94s 9d; Broken Hill South, 49s 9d; New Broken Hill, 49s 3d; Zinc Corporation, £8 ss; Bulolo, £7 ss; Oil Search. 6s 3d; Mount Morgan, 8s sd. MELBOURNE Sales.—Goldsbrough, 34s 6d; Australasian Paper, 38s 6d and pref., 435; Dunlop, 45s lOd; Hume Pipe, 26s 7d; Kauri Timber, 345; Myer pref., 43s 6cf; Yarra Falls, 63s 6d; Emperor, 17s; Mount Morgan, 8s 7d. RESERVE BANK RETURN The effect of the appreciation of the New Zealand £ to parity with sterling on the finances of the Reserve Bank is not shown in this week’s return supplied by the bank, which is for the week ended August 18. The position should be disclosed in next week’s return, which will be up to August 25. The current return is as under, the figures for the previous week being given in parenthesis;— Liabilities.—General reserve fund, £1,500,000 (same); bank notes, £48,190,014 (£48.493,962): demand liabilities: State, £10.367,863 (£11,003,576); banks, £66,021,182 (£62,973.018): other, £242,854 (£255,237): liabilities in currencies other than New Zealand currency. £15,492 (£21.688); other liabilities. £3,372,816 (£3,351.465); Total, £(N.Z.) 129,710,221 (£127.598 944). Assets.—Gold, £2.802,147 (same); sterling exchange. £ (N.Z.)78.438,874 (£77,354.579); subsidiary coin, £108,148 (£106,463); advances: to State marketing organisations. £838,664 (£848,121); for other purposes. £32,007.766 (£31,000,000); other, £3.492.983 (£3,469,339). Investments, £11,326,239 (same); other assets, £695,401 (£692.056). Total. £(N.Z.) 129,710.221 < £127.598.944). Proportion of reserve to notes and other demand liabilities, 65.073 per cent. (65.296 per cent.). DOMINION SHARE-PRICES INDEX Share-prices index numbers for individual groups for years ended June 30 are given in the Abstract of Statistics in the following table, the base being: calendar year 1938 (equals 1000): —

Queensland Brewery.— Queensland Brewery, Ltd., earned £123.204 in the year ended June 30, an increase of £2392. Dividends were again 7 per cent, ordinary and 5j per cent, preference.

LATEST QUOTATIONS £ s. d. £ s. Australasia 9 15 0 Comm, of Aust. .. and A. 0 19 . 8 6 ( 0 Union 9 1( 0 Ballins 1 14 0 Dominion 3 8 0 Melbourne Co-op. 2 5 0 F Westland 2 J 1 0 Canterbury 15 11 6 — N.Z. Refrig.I £1 pd. 1 IS 0 2'0 0 10s paid 0 18 6 — Auckland 0 8 0 5s paid 0 2 6 Timaru 0 9 0 Wellington, pref. .. 1 ~6 6 — National New Zealand Loan and Agency— C.F.C.A., ord. * Pref. — 4 18 0 3 0 0 Invfncible Building 5 10 0 Nat. Mortgage “A" 3 17 0 — N.Z.F.* Co-O£.» c.d. 0 13 9 “A” pref., c.d. .. 5 0 0 N.Z. Guar. Corpn. 10 0 5 9 N.Z.L. & Mor., ord. 108 0 0 —- United Building .. Shipping— Union, pref. 1 4 0 — 1 13 3 Northern — 0 8 6 Felts, N.Z., 1 6 0 — . of N.Z. 2 7 6 2 10 0 Wellington, c.d. 9 15 0 Pref., c.d. 10 5 0 — Alloy Steel (N.Z.) Acetone, pref. Andersons, 1st pref. Aust., C.I. Beath and Co. 2 11 6 — 1 i 5 6 — 2 12 0 Canty. Saleyards Booth, Macdonald Pty .. 1 17 0 2 12 0 2 16 1 0 Claude Neon, N.Z. 2 5 0 2 8 9 Colonial Sugar Dom. Builders Donaghy’s Rope .. D.I.C. (10s pd.) 51 0 0 3 1 2 6 1 14 6 — Dunlop, N.Z. 1 3 2 — ’ Clectro. Zinc, ord. 3 7 0 Fletcher Holdings 1 11 0 1 12 0 G. J. Coles 3 13 0 4 2 6 Greater Crystal Mason, Struthers, £1 paid Matches (N.Z.) .. Macduffs — 15 0 1 12 0 0 13 0 McKenzies 3 6 6 N.Z.F. Fertiliser (pref.) N.Z. Forest Products (pref.) Jeid Rubber, £1 0 13 8 — siBmlt ’' 7. 1 10 0 Tingey, pref. 1 12 0 Taringamutu Timb. Taupo Totara, ex Turnbull and J — 0 17 6 1 6 Wilson’s Cement .. o 17 7 W’wths. (ord.), c.d. 1 0 ) ord. ;; 0 0 7 5 (W.A.), c.d. 2 15 6 — Son 0 7 6 Unlisted Stocks Buyers. Sellers. Amuri Lime Andrews and Beav10 0 en, pref. 1 3 9 14 0 Beaths (1/- pd.. 19s Canty. Jseed 1’on. Brick, pref. .. .fatea Forests Midland Motors, pf. Mackintosh. Caley, 1 *3 ) 17 6 0 3 5 1 3 *0 Phoenix 1 15 2s 6d paid 0 9 6 Mt Cook Tours .. 0 10 0 13 0 Skellerup Inds., pf. 13 9 Taramakau, 5s pd. 0 8 0

1936. 1946. 1947. 1948. Frozen meat 1214 1803 1975 2088 Wool ... 1195 1864 1980 1982 Gas .. 1268 907 899 888 Timber .. 1090 1508 1600 1626 Minerals .. 1211 1085 1136 1329 Miscellaneous (inc. brew.) 99% 1350 1429 1428 All industrial groups 1104 1333 1409 1452 Banks .. 1147 1103 1268 1224 Insurance .. 1036 1847 1872 1813 Loan and agency 1033 1319 1649 1722 Miscellaneous, other 1007 1714 1929 1898 All finance, etc., groups 1094 1513 1680 1644 All groups 1099 1425 1545 1548