COMMERCIAL

Press, Volume LXXXVI, Issue 26078, 3 April 1950, Page 8

COMMERCIAL

STOCK EXCHANGES WEEK’S TRANSACTIONS REVIEWED (By Our Commercial Editor.) Business during the week was light and was confined in the main to a few stocks. In Australia there appeared to be fair activity and on the ’ whole prices improved. In London buyers appeared to reduce their limits for several Dominion issues.

The week’s turnover at 6833 shares was 1792 below that of the previous week. Details, with the previous week’s figures in parenthesis, are:—Government securities, £13,200 (£5200); bank shares, nil (160); breweries, 250 (260); frozen meats, 14 (nil); insurance, 100 (nil); loan and agency, 500 (1550); shipping, 300 (nil); woollens, 474 (nil): miscellaneous, 4664 (4215); mining, 100 (1000); unlisted, nil (500). Greater activity was shown in Government securities than in the previous week. A firm demand obtained for ahwst aU issues. No sales were recorded in the banking section. Commercials appeared fractionally easier, whereas E., S., and A.’s and Nationals were firm to firmer. « Bal tins Breweries were easier in business at 2lls 9d, and northern business was written at 28s 6d. New Zealand Breweries were traded at the slightly reduced rate of 4!)s 6d, but better buyers were in evidence at times during the week. Canterbury Frozen Meat preferences were unaltered when shares changed hands at £8 ss. Ordinary shares in the company had buyers in advance of the last sale price of £l7, Little more interest was displayed in New Zealand Refrigerating fully-paids, but the contributing shares were still quoted easy. Southland Frozen Meats were in firm demand. Christchurch Gas had reported business at 24s 9d—down 3d—and tne contributing shares sold at Ils 6d. , New Zealand Insurance shares were unaltered in business at £5 Bs, and subsequently sellers were prepared to accept less.

Business in the loans and agency section was: peculiarly dull. New Zealand Farmers’ Co-operative secured deposit stock was traded unchanged at £lO2 ss. A parcel, of Dalgetys changed hands at 10s—a drop of 2d. A sale of Huddart Parkers 9d up at 53s 6d represented the only business in the shipping section. Union preferences were close to business at about 30s. Among the woo Hens Kaiapoi ordinaries had a fair turnover at 28s 3d, and buyers were prepared to go on. Korma Textiles preferences showed moderate weakness with sales at 17s 9d. A parcel of Wellington woollens was traded at £9 17s 6d. In the miscellaneous section, which accounted for two-thirds of the week’s turnover, G. J. Coles,'* after early business at the unaltered rate of 24s 9d, Improved to sales at 25s 6d—these shares showed marked Improvement in Australia. Selfridges, Australasia, which have not been on the sales’ list for some time, confirmed better quotations to sell the considerably enhanced price of 575. Colonial Sugars were slightly improved with sales at £62 15s. Woolworths, Ltd., improved in price to sales at 26s Id—an advance of 4d on recent sales. Hay’s, Ltd., had light business at the unaltered rate of 72s 6d. Macduffii: had a fair turnover at 9s—the annual meeting of this company was held during the week and alterations in the directorate occurred. Woolworths New Zealand were firm with business at 25s 3d and more were wanted at that price. Midland Motorways preferences lost ground fractionally in a sale at 225. Beath and Company showed a fair rise to sell at 50s (Id. Dunlop New Zealand preferences changed hands at 19s. Maling preferences were unaltered in at 21s. Mount Lyells were easier in business at 20s 9d. No particular interest was displayed in the New Zealand mining section, noir were any sales recorded in unlisted stocks, although better breers obtained in the latter section for New Zealand Motor Bodies.