COMMERCIAL

Press, Volume LXXXV, Issue 25933, 13 October 1949, Page 6

COMMERCIAL

Macky, Logan. Caldwell. Ltd.—This

STOCK EXCHANGES

FAIR TURNOVER A fair volume of business was transacted on the Christchurch Stock Exchange yesterday. Prices generally were well maintained. DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change £ s. d. Var’n 2J p.C., 1949-51 (£555) ..100 5 0 3 p.c.. Dec., 1953-56 (£200; £300) .. 100 15 0 - Macduffs (100) .. 0 12 1 —sd Sales on ’Change, Unlisted Whakatane Board Mills (200) 0 18 6 Sales Reported C.F.C.A., ord. (100) 16 6 Felt and Textiles, N.Z. (200) . 1 14 6 N.C. Berlei, N.Z. (1000) .. 1 3 8 N.C. Fletcher Holdings (100) 1 10 3 N.C. Broken Hill South (100) 2 7 0 +6d Mount Morgan (100) 0 14 3 N.C. Sales Reported, Unlisted Korma Textiles,. ord. (200) 013 0 -1/[The sale of 1000 Berlei, N.Z., Ltd., at 23s 8d was incorrectly reported in. yesterday’s issue as 100 shares.] AUCKLAND Sales.—ls/6/52-55, 4 per cent, (bond/ (£250), £lO3 15s; 15/4/50-51,22 2 per cent. (£400), £lOO 8s 9d; 15/5/53-56, 3 percent. (£450), £101; 15/7/63-65, 3 per cent. (£2850), £lOO ss; Com. Bank Aus. (500), 22s 3d; Bank N.S.W., Sydney reg. (5), £36 ss; National insurance (200), 235; National Timber (100), 12s 9d; Colonial Sugar (5), £56: Dunlop, N.Z. (400), 18s; N.Z. Drug (122), £5 Is 6d, and (250), £5 Is; Phillipps Impey (400), 71s 6d; Silknit, N.Z. (100), 25s 6d; Carpenter (150), 38s; New Broken Hill (100), 335. Unlisted: Korma (400), 13s. WELLINGTON Sales.—Late Tuesday: Woolworths. Ltd. (200), 21s 6d. Unlisted: Whakatane Board Mills, pref. (100), 21s 6d: W. E. Woods (200), 10s. Yesterday: 3 per cent., 61-63 (£300), £lOO 2s 6d: 3»/ 2 per cent., 53-57| (£500), £102; W.F.C.A., Ltd., pref. (175), 20s 6d; Felt and Textiles, N.Z., ord. (200). 34s 9d; Berlei, N.Z. (200), 23s 7d; N.Z. Forest Prod., ord. (300), 5s Bd. Unlisted: W. E. Woods (600), 10s. Late sales: Southland Frozen Meat, two sales (105), 58s. DUNEDIN Sales Reported.—N.Z. Forest Prods., ord. (500), 5s 7d; Union Steam, pref. (212), 30s 6d; Mount Morgan (100), 14s 3d. INVERCARGILL Sales Reported.—Southland Frozen Meat (100), 58s; N.Z. Breweries (100). 43s 9d; Bruce Woollen, pref., odd lot (87), 275. LATEST QUOTATIONS

RESERVE BANK RETURN

The Reserve Bank return for the week ended October 5, with figures for the previous week in parenthesis, is:— Liabilities.—General reserve fund, £1,500,000 (same); bank notes, £51,447,526 (£50.891,277); demand liabilities: State, £8,094,443 (£5,742.575): banks. £77,287.986 (£80.490,653); other. £403,679 (£389,172); liabilities in currencies other than New Zealand currency, £46,229 (£12,069): other liabilities, £3,829.839 (£3.814.115). Total: £( N.Z. >142,609,702 (£142.839,862). Assets.—Gold, £3.580.612 (£3.502.336); sterling exchange. New Zealand currency, £45,379,384 (£47.570.597); subsidiary coin, £95,882 (£93,636'); advances: to State marketing organisations. £2,695,335 (£3,939,755); for other purposes, £37.000,000 (£34.000.000); other advances, £5,072,704 (£5,070,945); investments. £48,094,280 (same): other assets. £691,505 (£568.312). Total: £ (N.Z 1142.609,702 (£142.839,862). Proportion of reserve to notes and other demand liabilities, 35.642 per cent. (37.131 per cenQ.

OTHER EXCHANGES

Bank Australasia, sale, £9; Commercial Bank Australia, sale, £1 Is 3d: E.. S.. and A. Bank, buyer, £5 6s 3d, seller, £5 13s 9d; Union Bank Australia, sale, £8 15s; Bank New South -.Wales, sale. £34 10s; British Tobacco, sale. £1 17s; Goldsbrough, Mort, sale, £1 12s; Dalgety, sale, 9s 9d; National Bank N.Z., buyer,' £2 9s 6d. seller. £2 Ils 6d; Dalgety, 4 per cent, debentures, buyer, £9B. seller. £100; N*Z. Loan and Mercantile. 4 per cent, debentures, buyer, £94. seller, £96; New Zealand Loan and Mercantile, ord. stock, buyer. £lOO. seller, £102; P. and O. deferred. middle price. £2 ss; Broken Hill North, £3 9s ,6d: Broken Hill South. £2; Broken Hill Prop., £1 19s 3d: Consolidated Zinc, £1 5s 9d: New Broken Hill, £1 7s 7£d; Mount Morgan, 13s; Emperor Mines, 10s 3d. SYDNEY The investment demand kept the Sydney sharemarket yesterday on a firm basis, with price rises outnumbering falls. Sales.—Commercial Bank of Australia. 255; National Bank, 12s 6d paid, 21s 6d; Bank Australasia, £ll 7s; Commercial. Banking of Sydney. £24 10s: Union Bank. £11; Tooths, 77s 6d; Mercantile Mutual, 61s 6d: A.C.1.. 59s 6d; Bradford Cotton, 435; Broken Hill Prop., 495, and contributing, 25s 9d; Burns Philp, 79s 6d; Felt and Textiles, 44s 6d; General Industries, 34s 6d; Coles, 21s 4 1 , 2 d; Kandos, 41s 3d; Anthony Hordern, 235: Aus. Paper, 32s 9d; British Tobacco. 465; Colonial Sugar. £62 15s; Drug Houses, 39s 6d; Dunlop. 41s 3d: Goldsbrough. 39s 3d: Stedman. 265: Morts Dock. 26s 4’ 2 d; Wilcox Mofflin, 17s IJd: Woolworths, Ltd.. 23s 9d; Woolworths. New Zealand. 29s IJd; New Broken Hill. 34s 9d: South Broken Hill. 525: North Broken Hill. 86s; Emperor, 12s lid; Mount Morgan. 16s: Wellington, 3s lid: Oil Search. 6s 3d. MELBOURNE Investment trading again was active on the Melbourne Stock Exchange yesterday, with continued improvement in prices. Base metals were quiet but gold firmed. Sales.—Commercial Bank Australia, 25s 3d; Australasian Paper, 32s 6d. and pref., 37s 9d: A.C.1., 59s 3d; Drug Houses, 39s 6d; Gordon and Gotch, 245; Coles. 21s; Hume Industries. 18s 6d; Yarra Falls. 67s 6d; Herald. 18s; Broken Hill Pty.. 48s 9d. and contributing. 265; South Broken Hill, 52s 3d: New Broken Hill, 355; North Broken Hill. 86s; Loloma, 235: Mount Morgan, 16s 2d; Emperor. 12s 8d; Oil Search. 6s. GAINS ON NEW YORK EXCHANGE (N.Z. Press Association—Copyright) NEW YORK. October 11. The New York stock market to-day climbed to new high ground for 1949 on a buying wave centred in the shares of railroads and motor-car companies. Gains were from a few cents to round three dollars a share, with some market leaders reaching as high as four dollars. One of the factors in the rise was Wall Street expectation of an early settlement of the coal and steel strikes. The Associated Press states that the average of 60 stocks advanced by 60 cents to 67.40 dollars, which is the highest point since November 4. 1948. SHAREMARKET INDICES

company is paying an unchanged interim dividend ot 3 per cent, on November 1. ex October 20. The total distribution last year was 8 per cent.—N.Z.P.A.

Buyers. £ s. d. Sellers. £ s. d. Banks— Comm, of Aust. — 1 2 4 E., S., and A. 5 15 0 — Natl, of N.Z. 2 13 9 — Union 8 15 0 — Breweries— Ballins .. — i 11 n Dominion 3 4 0 3 5 0 New Zealand — 2 4 0 Tooths 3 8 0 3 12 0 Westland 1 19 0 2 1 0 Ccal— Kaitangata .. — 1 15 0 Pukemiro — 1 18 6 Frozen Meat— Canterbury 16 7 6 — Pref. 8 3 6 8 12 6 N.Z. Refrig. (£1 pd.) 1 18 6 — 10s paid 0 18 9 0 19 6 Southland 2 18 0 — Auckland — 0 8 0 5s paid .. 0 2 11 — Christchurch 15 0 — 10s paid — 0 12 0 Timaru 0 10 0 0 12 6 Gisborne 0 5 9 — Insurance— National 12 9 — New Zealand 4 18 0 4 19 0 South British, c.d. 4 7 6 — Loan and Agency— C.F.C.A.. ord. 16 0 17 0 Pref. 3 2 0 3 5 0 Dalgety 0 10 0 0 10 6 Goldsbrough, Mort 1 14 9 — Invincible Bldg. .. 5 9 0 — Mutual Benefit 19 0 0 — Nat. Mortgage “A” 0 8 6 0 9 0 "B” 2 3 0 — N.Z.F. Co-op. (“A" pref.) 6 15 0 — “B” pref. 4 10 0 —- 4.'. p.c. Stk., 195060 102 5 0 — 4J p.c. Stk.. 1955 102 7 6 — N.Z. Guar. Corpn. — 0 5 7 Perm. Invest. 12 15 0 — Perpetual Trustees, x.d. 2 6 0 — South Island Fin . c.d. 1 3 0 — Wright. Stephenson — 16 6 Shipping— Huddart Parker — 2 8 0 Pref. — 1 10 0 New Zealand, pref. 14 0 0 — Woollens— Felt and Textiles .. 1 18 9 — Felt and Textiles of N.Z. 1 14 6 115 0 Pref. 13 9 — Kaiapoi (17s pd.) .. 1 7 3 — Pref. 17 3 — Korma Tex. (pref.) 0 19 6 — Miscellaneous— Anderson’s (1st pref.) _ • ■ 16 0 — Bartholomew Tim. 1 15 0 — Aust. C.I. 2 13 0 2 14 0 Aust. Foun. Invest. — 0 5 9 Avon Metals — 1 1 11 Beath and Co. (Is paid) 0 18 0 12 6 B.H.P.. contr. — Begg and Co. 1 13 6 1 14 0 Berlei (N.Z.) 1 3 7 14 3 Booth, Macdonald — 0 3 6 Pref. — 0 15 3 Brit. Tobacco — 2 2 3 Broken Hill Pty. . . — 2 3 6 Bulleid — 0 18 0 Claude Neon. N.Z. 2 7 9 — Colonial Sugar 55 17 6 — Consolidated Brick — 0 9 6 Dorn. Rubber 0 9 0 —— Donaghy’s Rope .. 2 18 3 D.I.C. (10s pd.) — 110 3 Dunlop Rubber — 117 0 Dunlop, N.Z., pref. — 10 9 Electro. Zinc, ora.. x.d. • • — 3 4 0 Fletcher Holdings 1 10 3 1 10 6 General Industries — 1 12 0 G. J. Coles — 0 19 0 Hogg and Co. 0 8 0 0 10 0 I.C.I. A. N.Z. (pf.) — 13 6 Maling (pref.) 1 1 0 116 Mason, Struthers (£1 paid) 1 7 6 — 14s paid 0 17 9 — 10s paid 0 13 0 — Matches (N.Z.) — 0 13 0 Metters (N.Z.) 13 9 —- Midland Mot. (pf.) 1 1 9 Macduffs 0 12 0 0 12 2 Macduffs Holdings. pref. 0 10 11 — McKenzies 3 3 0 — National Electric 3 0 0 — N.Z. Drug 5 0 0 N.Z. Express 0 15 0 N.Z. Forest Prod. 0 5 5 0 5 6 N.Z. Paper Mills .. 1 16 6 1 17 0 Niven, J. J. 2 0 9 2 2 6 Northern Roller Milling 1 11 3 —— Quill, Morris (1936) 2 1 0 Radio Corpn. 0 10 0 0 13 0 Rotoiti Timber, c.d. 0 13 9 Silknit — Rubber Distrib. — Skellerup (pref.) . — 119 Simpson and Williams 2 13 0 2 17 0 Procera — 0 10 0 Turnbull and Jones — 1 16 0 Weeks, pref. 15 0‘ Whit, and Tombs 1 1 9 12 6 Wm. Cable 1 11 0 —- Wilson's Cement .. 0 17 3 Woolworths, ord. .. 113 116 (N.Z.). ord. 1 3 9 14 0 W. R. Cooke & Son 0 7 9 0 8 1 UNLISTED STOCKS Amalg Batteries .. 1 3 0 1 5 0 Pref. 1 4 0 18 0 Andrews & Beaven. pref. 1 3 9 —— Ass. Mot. Pet., pf. 1 12 0 Belvedere Maison — 15 0 British Standard Portland Cement — 0 4 9 Beaths (Is pd., 19s deposit) 1 17 0 2 0 0 Black and White Cabs 0 2 6 — Canty. Seed 15 6 — Korma Text., ord. — 0 13 6 Lane, Walker. Rudkin — 3 2 0 Mac.. Caley. Phoenix 1 13 0 — Matea Forests 0 2 0 0 2 6 Mt. Cook Tours. c.d. 0 11 0 0 13 0 Mac., Caley, Phoenix, contr. — 0 11 6 National Tobacco — 0 1 9 N.Z. Fisheries — 0 14 0 Reece. Ltd.. E.. ord. 0 10 —— Reece, Ltd., E.. pf. 0 11 3 — Scales *'C" (pref.) 0 7 0 0 8 6

London.—•‘Financial Times” (1926 equals 100):— December 30 Ind. ord. Govt. 121.2 113.66 Gold. 95.91 January 31 122.5 113.89 89.87 February 28 118.6 113.92 90.70 March 31 114.6 113.74 103.89 April 29 115.4 113.97 103.35 May 31 109.6 113.06 99.86 June 30 101.6 109.58 103.21 July 29 101.7 107.8 110.13 Aug. 31 104.4 106.58 110.66 Sept. 30 105.1 107.13 135.15 Oct. 7 105.2 107.48 135.30 Oct. 10 105.4 106.98 132.11 Oct. 11 106.0 106.53 131.89 .New York. —Dow Jones (1926 equals 100):— Rails. Indus. Gold. December 31 52.8.5 177.30 1.3811.000 January 31 52.57 179.12 610.000 February 28 47.71 173.06 740,000 March 31 49.02 177.10 980.000 April 30 47.27 174.16 310,000 May 31 44.49 168.30 1,240.000 June 30 42.57 167.42 580,000 July 29 44.47 175.92 640,000 Aug. 31 45.09 178.66 720,000 Sept 30 47.87 182.51 1,100,000 Oct. 7 48.52 185.27 1.280.000 Oct. 8 48.71 185.36 540,000 Oct. 10 48.75 185.15 1.120.000 Oct. 11 49.77 186.74 1,660.000