COMMERCIAL

Press, Volume LXXXV, Issue 25767, 31 March 1949, Page 6

COMMERCIAL

STOCK EXCHANGES A DULL DAY Sellers outnumbered buyers on the Christchurch Stock Exchange yesterday, and altogether it was a dull day. Markets were quiet and price movements irregular. Buyers appeared for 20 issues of Government stocks, but only one seller was on the quotations board. DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change £ s. d. Var’n. Comm. Bank of Aust. (200; 200; 100) .. 1 1 J B.H.P. (100) .. .. 2 8 6 -6d Ngahere (150) .. •• 0 3 1 —l/11 Sales Reported 3 p.C., 55-58 (£1800) ..100- 2 6 3 p.c., 56-59 (£500) ..101 0 0 Comm. Bank of Aust. (200) •• 111 m N.Z. Breweries (50) (150 ) 2 8 9 N.C. Late sale Tuesday (50) 2 8 9 N.C. A. rights (158) .. 0 0 51 +ld (200) .. 0 0 5 N.C. B. , late sale Tuesday (200) .. •• 2 8 6 —6d AUCKLAND Sales.—ls/12/53-63, 3 per cent. (£350), £lOO 10s; Comm. Bank of Aust. (400), 21s; National Bank of New Zealand (100), 55s 3d; South British Insurance (100), 85s; Loan and Mercantile (£500), £101; B.H. Pty. (100), 48s; Bycroft (100), 70s; Con. Brick (150), 10s; Macduffs (200). 10s; Forest Products (100), 5s 6d; N.Z. N e 'Y®7 papers (50), 51s 6d; Reid, pref. (834), 21s 3d; Wm. Cable (100), 30s 6d; Woolworths N.Z. (300), 22s 2d; Wool worths, Sydney (450), 20s 3d; Barrytown Gold (250), 17s; Unlisted: Korma, pref. (700), 21s; Dominion Life, ord. (1000), Bs. WELLINGTON Sales.—Late Tuesday: Dominion Life, ordinary (800). Bs. Yesterday: 21 per cent., 1950-51 (£250). £99 17s 6d; 3 per cent.. May. 1953-56 (£200), £lOO 15s; 4 per cent., 1952-55 (£550), £lO3 10s; 3 per cent., 1960-63 (£2060), £lOO 17s 6d; Australian Foundation, rights (200), sd; N.Z. Drug, ex div. (62), 98s, and (39), odd lot, ex div., 98s; Woolworths. Ltd., ex div. (100), 20s 3d. Unlisted: John Chambers, ordmarv (250), 31s; Korma Textiles, preference (500), 21s. DUNEDIN Sales.—Union Bank of Aust. (50), £9 15s; N.Z. Refrigerating, paid (200), 37s 6d. Sales Reported.—3 per cent., 1961-63 (£1000), £99 17s6d; 1962-64 (£100), £99 17s 6d. and 1963-65 (£1000), £99 17s 6d; N.Z. Loan and Mercantile, ordinary (£o00), £101; Wright, Stephenson, pref. (185), 255. INVERCARGILL Sales Reported.—l9s6-59. 3 per cent. (£400), £lOO 15s; Macduffs, ordinary (100), 10s.

LATEST QUOTATIONS

OTHER EXCHANGES SYDNEY Prices tended downward on the Sydney Stock Exchange yesterday, thougn falls were srfiall in amount. Sales.—E., S„ and A. Bank. £11; Commercial Bank of Australia. 245; Tooths. 79s 9d; Mercantile Mutual, 58s 6d; Broken Hill Prop.. 53s 3d; Drug Houses, 395; Felt and Textiles, 50s: Bradford Cotton, 435; British Tobacco, 48s 6d; Burns, Philp South Sea, 535: Claude Neon, 375; Mount Lyell, 24s lOJd; Broken Hill North, 725; Broken Hill South, 45s 9d; Zinc Corporation, £6 18s; Placer Development, £7 7s; Oil Search, 6s 3d; Bulolo, £6 2s 6d. MELBOURNE With a further shading-down of investment prices on the Melbourne Stock Exchange yesterday, buyers were more in evidence and the turnover was considerable. Sales.—Union Bank, £11; Goldsbrough. 34s 9d; Carlton Brewery, 66s 6d; A.C.1.. new issue, 535; British Tobacco, 53s 6d; Felt and Textiles, 49s 9d; Coles, 70s 9d; Herald. 19s; Hume Pipe. 29s 9d; Myers, pref., 42s 9d; Woolworths. 22s lOd; Broken Hill Pty., 52s 6d; New Broken Hill. 365; Mount Isa, 375; Mount Lyell 24s 9d; Mount Morgan, 9s; Wellington Alluvials, 2s lOd; Oil Search, 6s 3d.

AUSTRALIAN COPPER PRICES APPRECIABLE RISE The Australian price of copper to producers has been raised from £l6O to £lBO a ton, compared with the present London fixed price of £l4O sterling '(£Al75) a ton. The new price was fixed on March 25 at the Prices Ministers’ conference in Adelaide. Of the new price of £lBO a ton, £lO a ton will be paid from the copper pool, so that the price to consumers will be £l7O. The British Ministry of Supply’s fixed price was raised from £132 sterling to £l4O sterling a ton in October last. Australia had to import 10,000 to 12,000 tons of copper last year because production did not meet requirements. The landed price was £AIBO a ton. The date from which the new price will operate has yet to be declared. The Australian producers asked the price authorities to increase the price in January last

Banks— Buyers. £ s. d. Sellers £ s. d Australasia — 10 15 0 Comm, of Aust. .. — 113 E., S., and A. 5 7 6 6 0 0 Natl, of N.Z. 2 15 0 — New South Wales — 36 5 0 Union — 9 19 0 Breweries— Ballins — 19 0 New Zealand 2 8 6 2 9 0 Tui 2 6 9 — Frozen Meat— Canterbury, pref. — 8 10 0 N.Z. Refrig., £lpd. 1 17 6 — 10s paid — 0 18 0 Nth. Canty., pref. 12 0 — Southland — 3 0 0 /i s Auckland — 0 8 3 Christchurch 14 0 14 6 10s paid .. — 0 11 4 Insurance— F.A.M.E., pref. — 16 6 National — 1 1 10 New Zealand — 4 10 0 South British, c.d. 4 4 0 — Loan and Agency— C.F.C.A.. ord. — 1 10 0 Pref. 3 0 6 3 2 0 Dalgety — 0 10 8 Walter Reid 2 16 — Invinc. Building .. 5 5 0 — Nat. Mort., "A,” c.d. 4 4 0 — *’B,” c.d. 2 3 0 - N.Z.F. Co-op. —- 0 11 6 4J p.c. Stk. ’50/60 100 10 0 — 44 p.c. Stk. ’55 . . 100 10 0 —■ N.Z. Guar. Corpn. 0 5 4 — Perm. Invest. 12 4 0 Perpetual Trustees 2 3 0 United Building 14 1 — Wright. Stephenson 2 2 0 — Pref. 14 9 — ShippingUnion, pref. 1 10 6 1 10 11 Woollens— Bruce — 2 2 6 Felt and Textiles of N.Z.. ex rights — 1 19 6 Kaiapoi, 17s paid .. — 17 0 Pref. 16 6 — Mosgiel 14 10 0 15 0 0 Timaru — 18 9 Miscellaneous— Alloy Steel (N.Z ) — 2 15 0 Andersons. 1st pref. —— 17 0 Matches (N.Z.) — 0 15 0 Aust. Foun. Invest., rights — 0 0 7 Avon Metals 119 — Beath and Co. 2 7 0 — Booth, Mac., pref. — 0 12 3 Broken Hill Pty. .. — 2 9 0 Bulleid — 0 18 6 Canty. Roller Flour 0 15 0 0 18 0 Colonial Sugar 54 10 0 54 17 6 Denhard Bakeries — 0 14 0 Dom. Builders 0 9 9 — Dunlop, N.Z. — 10 6 Pref. — 10 9 Evans Atlas 17 0 — Fletcher Holdings 17 9 19 3 Gordon and Gotch — 4 0 0 Midland Mot., pref. — 10 6 M.K. Manufac., x.d. — 0 11 7 Macduffs 0 9 9 0 10 0 Pref. 17 3 17 9 McKenzies 3 2 6 — McLeod Bros. — 2 17 6 National Electric .. — 2 13 0 McKendrick 1 14 6 — N.Z.F. Fertiliser, pf. 16 0 — N.Z. Forest Prod. 0 5 5 0 5 6 N.Z. Newspapers .. 2 10 6 2 13 0 Skellerup. pref. 119 12 3 Turnbull and Jones —— 1 17 0 Pref. — 15 0 Whit, and Tombs 119 — Wm. Cable — 1 11 0 Wilson Malt — 1 17 0 W’worths, ord. — 10 3 (N.Z.), ord. — 12 2 W. R. Cooke and Son — 0 8 0 UNLISTED STOCKS Buyers. Sellers. £ s. d. £ s. d. Amalg. Batteries .. 12 9 — Pref. 12 9 16 0 Ass. Mot. Pet., pf. 1 11 0 — Ma tea Forests 0 3 0 Macduffs Holdings 0 10 5 — Mackintosh, Caley, Phoenix 1 15 0 1 16 0 5s paid — 0 13 6 Mount Cook Tours 0 8 3 — Reece, Ltd.. E., pf. 0 11 0 — Rink Investments 0 18 6 12 6 Scales "C” pref. .. 0 5 3 —* Whakatane Board 0 18 0 — Pref. — 116