COMMERCIAL

Press, Volume LXXXV, Issue 25712, 26 January 1949, Page 6

COMMERCIAL

STOCK EXCHANGES MODERATE TURNOVER There was a moderate turnover on the Christchurch Stock Exchange yesterday, and prices generally were well maintained. The only fall recorded was in New Zealand Forest Products, of which a large parcel of the ordinaries changed hands at 5s 6d—down Id, and the preference lost 3d, with business at 13s.

DOMINION TRANSACTIONS

AUCKLAND Sales.—Stock, 1947-49, 2V 2 per cent. (£500), £99 17s 6d; Stock, 1955-58, 3 per cent. (£400), £lOO 12s 6d; 1952-55, 4 per cent. (£500), £lO2 17s 6d; Hauraki Plains County Council, 1962, 4A per cent. (£800), £lO9 17s 6d; Auckland Gas (500), 8s 8d; N.Z. Insurance (400), 93s 3d; Broken Hill Pty. (250), 51s 6d; South British (200), 89s; Trading Finance, 10s paid (500), 9s 6d; Colonial Sugar (10), £54 10s; Caros, pref. (175), 26s 9d; Dominion Fertiliser (200), 27s 3d; Coles, rights (218), 22s 3d; Coles, rights (105), 22s 2d; Forest Products (400), 5s 7d; Radio, 1936 (137), 15s 6d. Unlisted: Alex. Harvey (200), 255; Reid Rubber, pref., fully paid (300), 21s 6d; Selfridges, N.Z. (170), 12s 6d; Tip Top, ord. (100), 51s 6d. WELLINGTON Sales.—Yesterday: Government Stock, 1956-59, 3 per cent. (£1000), £99 17s 6d; Govt. Stock, three sales, 1960-63, 3 per cent. (£3690), £99 15s; Govt. Stock, 195255 (£1015), 4 per cent., £103; Consolidated Brick, ex div. (100), Ils 6d; J. J. Niven and Co. (100), 37s 6d; Dunlop, N.Z., Ltd., pref. (200), 21s 8d; Caros Bargain Stores, (175), pref. 26s 9d; G. J. Coles and Co., rights (48), 22s 3d; G. J. Coles and Co., rights (30), 22s 2d; Woolworths, Ltd. (500), two sales, 20s 6d. Unlisted: Selfridges, N.Z. (260), 16s paid, 12s 6d. DUNEDIN Sales on ’Change.—Wilson’s Cement (400), 16s 9d. Sales Reported.— 3 per cent. Govt. Stock, 1953-56 (1000), £99 17s 6d; Standard Insurance (133), 85s 6d; Radio, 1936 (137), 15s 6d; Woolworths, Ltd. (400, 100), 20s 6d.

OTHER EXCHANGES

SYDNEY After its recent hesitancy, the market on the Sydney Stock Exchange steadied yesterday and most industrial leaders sold at unchanged levels. Sales.—Commercial Bank of Sydney, £24 Ils; National Bank (12s 6d paid), 21s 6d; Tooths, 79s 6d; Associated News (pref.), 21s 3d; Huddart Parker, 65s 6d; Anthony Hordern, 26s 3d; A.C.1., 56s 6d; British Tobacco, 51s 3d; Burns, Philp 795; Australian Paper, 345; Colonial Sugar, £6l 2s 6d; Felt and Textile, 53s 6d; General Industries, 33s 9d; Howard Smith, 25s 6d; Wilcox, Mofflin (new), 17s 6d; Goldsbrough, 36s 3d; Kandos, 43s 6d; Mount Lyell, 27s 9d; Mount Morgan, 10s 3d; Placer Development, £8 17s 6d; Oil Search, 6s 2d; Rawang, 7s 7d. MELBOURNE Melbourne Stock Exchange sales yesterday were:—Commercial Bank of Australia. 24s lOd, pref. £ll 2s; E„ S., and A. Bank. £6 15s 6d; Huddart Parker, 65s - Coles, 775; Herald, 20s sd; Hume Pipe 28s 4d: Woolworths. 22s 9d; Broken Hill Pty., 58s 9d; North Broken Hill, 89s; South Broken Hill, 52s 3d; Mount Isa 44s 6d; Wellington Alluvials, 3s 4d; ’ Oil Search, 6s sd.

COMPANY NEWS

Rubber Distributors.—As the company’s finances have shown no improvement since the last balance date. Rubber Dis- : tnbutors, Ltd., Wellington, has adviseo shareholders that it has been necessary : to postpone payment of dividends. In- : creases in costs of the completion of the : new factory, expansion of working capi- • tal in an increased turnover, ! and failure to secure full subscription of I the last issue of shares were the reasons ! for the recommendation. In a circular ' i to shareholders the managing director says: “It had been expected that before the end of 1948 arrangements for an overseas company to take a substantial interest in this company, and so provide the additional capital necessary, would have been finalised. It is regretted that so I far no satisfactory result has been ob- L tained. although efforts are being continued.” •'

Australian Motorists’ Petrol Co.—Australian Motorists’ Petrol Company, Ltd., has changed the company’s name to Ampol Petroleum, Ltd., and capital has been reconstructed to be £2.000.000 in 250,000 £1 preference shares and 1.750.000 £1 ordinary shares. Both classes of shares are now officially listed by the Stock Exchange Association of New Zealand.

CHRISTCHURCH Sales on ’Change G. J. Coles, rights (93) £ s. d. 12 4 Var’n. N.C. Wool worths (100; 200) .. 10 6 N.C. Sales Reported Trustees Executors (40) 5 13 0 —■ Booth, Macdonald, pref. (200) 0 12 0 N.C. Dominion Fertiliser (380) 17 3 N.C. G. J. Coles, rights (20) 12 4 N.C. N.Z. Forest Products (3000) 0 5 6 — Id Pref. (400) 0 13 0 — 3d Colonial Sugar (5) 54 10 0 N.C.

LATEST QUOTATIONS Buyers. £ s. d. Sellers. £ s. d. Banks— Australasia 10 0 0 10 10 0 Comm. of Aust., c.d. 1 1 3 Pref., c.d. — 9 7 6 E., S., and A. 5 10 0 Nat. of A'sia. (£1) — 1 10 6 National of N.Z. .. 2 18 0 Breweries— New Zealand .. 2 9 0 2 9 9 Tui 2 6 6 — Westland »• 1 18 0 — Coal— Kaitangata .. — 2 7 0 Pukemiro .. —— 2 11 0 Frozen Meat— Canterbury .. —— 16 7 6 Pref. — 8 12 6 N.Z. Refrig., £1 pd, x.d. — 2 0 0 10s paid, c.d. .. — 0 19 3 North Canty. pf. 1 2 0 — Southland — 3 2 6 Christchurch 1 5 0 — 10s paid — 0 12 3 Timaru — 0 13 0 , Wellington 1 8 6 —— Pref. — 1 6 6 Insurance— F.A.M.E. —— 1 5 0 Pref. — 4 7 0 National .. —— I 3 9 New Zealand — 4 13 9 Standard 4 5 0 4 5 6 Loan and Agency— General Finance .. 1 0 0 — C.F.C.A., ord. — 10 0 Dalgety 0 11 4 0 12 0 Invincible Building 5 0 0 —— Mutual Benefit -. 19 2 6 —- Nat. Mortgage "A” 4 3 0 — “B” 2 3 0 ■ — N.Z.F. Co-op. 0 11 0 0 12 2 4i p.c. Stk.. ’55 102 7 6 — . Perm. Invest, x.d. 0 12 0 — Sth. Island Finance 1 3 9 — Shipping— Union, pref. — 11 0 Woollens— Bonds — 2 12 0 Bruce — 2 5 6 Felt and Textiles of N.Z. 19 0 2 4 0 Kaiapoi, 17s paid 1 6 2 1 6 5 Pref. — 7 6 Timaru 1 8 6 i 9 0 Wellington — 9 10 0 Miscellaneous— Avon Metals — 1 2 0 Aust. Fnd. Invest. 0 5 5 0 6 0 Beath and Co. — 2 10 0 Is paid 0 18 0 — Booth, Macdonald 0 3 0 0 3 9 Pref. 0 12 0 0 12 6 Brit. Tobacco — 2 6 0 Broken Hill Pty. 2 11 6 2 12 0 Bulleid — 1 0 0 Claude Neon, N.Z. — 2 9 6 Colonial Sugar 54 10 0 55 0 0 Denhard Bakeries —— 0 14 0 Pref. — 1 14 0 Dom. Builders 0 9 6 — Dorn. Fertiliser — 7 6 Donaghy’s Rope .. —— 3 0 0 Dunlop, N.Z. 1 1 7 — Pref. — 1 1 8 Electro. Zinc, ord. 3 6 6 — Pref. — 3 11 0 Evans Atlas t 1 7 3 9 0 Fletcher Holdings — 1 11 6 Frozen Products .. — 3 0 G. J. Coles — 3 10 0 Coles, rights 2 3 1 2 5 Harley 1 8 0 — Harley, pref. — 1 4 6 Hay’s, Ltd. 3 5 0 — Mason, Struthers, £1 paid 1 7 0 — Matches (N.Z.) — 0 15 0 Midland Mot., pref. — 1 1 0 Milburn Lime 1 12 0 1 13 6 M.K. Manufac. 0 11 3 0 11 9 Morris Hedstrom .. — 2 15 0 Macduffs 0 10 11 — Pref. .. — 7 6 McKenzies 3 6 9 McLeod Bros. ——. 3 0 0 N.Z. Drug — 5 4 0 N.Z.F. Fertiliser .. 1 10 0 1 11 3 Pref. 4 6 0 — N.Z. Forest Prod. 0 5 5 0 5 6 Pref. 0 12 6 — N.Z. Newspapers .. — 2 8 9 N.Z. Paper Mills .. — 2 2 3 Otago Daily Times — 2 14 0 Quill, Morris (1936) 1 16 0 — Reid Rubber — 0 19 6 Silknit — 10 0 Skellerup (pref.) — 1 2 6 Taringamutu Timb. 0 16 9 Taupo Totara — 1 3 0 Weeks, pref. — 1 6 0 W’worths, ord. 0 16 9 — Pref. 1 0 6 — (N.Z.), pref. 1 3 3 1 3 6 W. R. Cook & Son 0 7 0 — Aust. Mining— Mount Morgan — 0 9 0 Mining— Alexander — 0 3 0 Ngahere 0 3 0