COMMERCIAL

Press, Volume LXXXVI, Issue 26199, 24 August 1950, Page 10

COMMERCIAL

STOCK EXCHANGES MARKETS ACTIVE Markets were fairly active on the Christchurch Stock Exchange yesterday, and prices on the whole were well maintained. Government securities were again in strong demand, but sellers were few. DOMINION TRANSACTIONS CHRISTCHURCH

AUCKLAND Sales.—ls/5/53-56, 3 per cent. (£370), £99 17s 6d; 15/12/53-56, 3 per cent. (£400), £99 12s 6d; 15/2/55-58, 3 per cent. (£740), £99; 15/7/63-64, 3 per cent. (£200), £9B ss; 15/7/63-65, 3 per cent. (£1000), £9B ss; Auck. Gas, 4V a per cent. perp. deb. (£2500), £lOO 10s; Bank N,S.W. (10), £42; Dominion Breweries (300), 72s 6d; Queensland Brewery (700), 365; Auck. Gas (200), 9s lOd; Newton King, pref. (100), 225; Korina, pref. (200), 18s 9d; Timaru Wool, rts. (575). 2s; Assoc. Leathers (200), 20s, and (300), 20s 6d; B.H. Pty. (127), 50s; Col. Sugar, rts. (10), £2B 15s, and (8), £29; Farm. Trading (200), 42s 9d; Coles (980), 21s sd; Gordon and Gotch (650), 235; Milne and Choyce (100), 655; Forest Prods., pref. (100), 13s Bd, and (200), 13s 9d; Reid Rubber (1100), 16s, and pref. (100), 21s; Southland Meat (50), 645; Woolworths, N.Z. (250), 265; Martha (200), 4s; Mount Isa (100), 38s 6d. Unlisted: Banks Box (280), 40s; Whaka. Bd., pref. (308), 225. WELLINGTON

Sales.—Late Tuesday; Goldsbrough Mort (100), 42s 3d; Aust. Paper Mfr., 6 per cent., pref. (300), 26s 6d; Col. Sugar, rts., two sales (16), £2B 15s; Fletcher Holds., two sales (200), 325; Hallenstein Bros. (200), 29s 8d; Wilson Cement, two sales (300), 20s. Unlisted: Whakatane, pref. (308), 225. Yesterday: 3 per cent., 57-60 (£1100), £99 7s 6d; 3 per cent., 59-61 (£500), £9B 10s; 34 per cent., 57-60 (£520). £lOl ss; Bank N.S.W. (5), £42; N.Z. Refrig. (59). 39s 9d; Auck. Gas. (200), 9s 10d; National Insurance (200), 255; Consol. Indust. (100), 54s 6d; B.H.P. (300), 50s; Goldsbrough Mort (150), 42s 9d; Goldsbrough Mort (50), 435; G. J. Coles, two sales (200), 21s 6d; Gordon and Gotch (100), 225, and (420), 22s 6d; Reid Rubber, two sales (700), 16s; Wool worths. Ltd. (100), 23s lOd. Unlisted: Tekau Knitwear (100), 27s 4d.

DUNEDIN Sales.—Colonial Sugar, rts. (4), £29, Kempthorne Prosser (82). two sales, £5 15s 9d; Wool worths, Ltd., rts. (100), 13s 9d. Sales Reported.—Woolworths, N.Z. (100), 265; Farmers’ Trading (150). 42s 7}fcd; N.Z. Drug (111), £5 16s; Macduffs Holding, pref. (500), Ils 7d; Assoc. Leathers (200), 19s 3d; B.H. Pty. (300), 50s 3d; Dominion Rubber (150), 20s. Unlisted: Gadsden, N.Z., ord. (100), 265; Ross and Glendining (200), 54s 6d; Gadsden, N.Z., pref. (100), 23s 6d.

OTHER EXCHANGES

MELBOURNE The market tone was very firm and turnover high in investments on the Melbourne Stock Exchange yesterday. Base metals were strong. Sales.—Commercial Bank Australia, 27s 9d; Goldsbrough, 47s 6d; A.C.I- new issue 58s 6d; British Tobacco, 48s 6d; Dunlop. 43s 9d; Colonial Sugar, rts., £3O; Felt and Textiles. 50s; Coles, 23s 7d; Gordon and Gotch, 255: Hume Ind., 17s 3d; N.Z. Forest 7s 3d; Electro Zine. 83s; Broken Hill Pty., 53s 9d; New Broken Hill, 40s 6d; North Broken Hill, 87s 6d; Emperor, Ils 9d; Loloma, 24s 6d; Mount Morgan, 24s 4d; Mount Lyell, new issue, 21s lOd.

SYDNEY The announcement of a dollar loan to Australia yesterday gave fresh impetus to the upward trend in the record trading on the Sydney Stock Exchange. Sales.—Commercial Banking of Sydney, £26; Commercial Bank of Australia, 28s; National Bank, 12s 6d paid, 245, and 20s paid, 395: Bank New South Wales. £4B 12s 6d; Union, £lO 19s; Tooths, 93s 9dAssociated News, 15s lOlid. and pref., 19s 3d; Aus. Paper, 34s 6d; Anthony Hordern. 25s 3d. and pref., 28s 6d; Broken Hill Prop., 53s 9d; Colonial Sugar, £6l, and rights. £29 15s; Electro Zinc, 84s, Felt and Textiles, 50s; General Industries, 42s 3d; Goldsbrough, 48s; Howard Smith, 30s; Morts Dock. 25s 9d; Sterling Henry, 9s 9d; Wilcox. Mcfflin, 19s 9d; Woolworths, 25s 9d, and rights, 14s 9d; British Tobacco. 48s 6d; David Jones, 58s; Dunlop, 445; Drug Houses, 43s 6d; Henrv Jones, 655; Carpenters, 245; Mount Lvell, new issue. 21s 10jd: New Broken Hill, 40s 6d; Broken Hill North. 97s 3d; Broken Hill South, 555; Placer Dev., £6 ss.

RESERVE BANK RETURN Little variation in sterling exchange is disclosed in the Reserve Bank return for the week ended August 16. Details, with the figures for the previous week in parenthesis, are as follows: Liabilities.—General reserve fund, £1.500,000 (same); bank notes, £54.321,364 (£54,597,000); demand liabilities, State, £11,519,594 (£18,411,000); banks, £72,715,184 (£71,394,000); other, £931.882 (£503,000); liabilities in currencies other than New Zealand currency. £12.790 (£13,000); other liabilities, £4,586,413 (£4.566,000). Total, £( N.Z.) 145.487.226 (£150,984,000). Assets.—Gold, £4,342,363 (£4,334,000); sterling exchange. New Zealand currency, £57,413.575 (£57,780.000); subsidiary coin, £227.676 (£234.000); advances. State marketing organisations, £3,433,929 (£3,517,000); for other purposes, 000.000 (same); other advances, (£5,473,000); investments, £17.658,142 (£22,658.000); other assets, £3,932,014 (£3.986,000). Total £(N.Z.) 145.487.226 ( £ 150.984,000). Proportion of reserve to notes and other demand liabilities, 44.295 per cent. (42.856 per cent.). MINING Blackwater Mines.—Blackwater Mines, Ltd., announces the following return for the four-weekly period ended August 11: crushed 1765 tons, yielding 606 fine ounces of gold. LONDON LEAD QUOTATIONS (N.Z. Press Association—Copyright) LONDON, Aug. 22. The Minister of Supply has announced new maximum prices for lead as follows: Foreign pig £ll2 a ton, domestic £ll3 10s a ton.

Sales on ’Change Var'n. £ s. d. 3 per cent., Dec., 195356 (£200) 99 10 0 Union Bank (25) 10 10 0 N.C. G. J. Coles (100; 400) .. 115 -Id N.Z. Drug (39) 5 16 0 ■f* 1/Woolworths, Ltd. (200) 14 0 — 3d Woolworths, Ltd., rights (25) 0 14 0 N.C. Woolworths, N.Z. (125) .. 16 1 4-10d Sales Reported N.Z. Breweries (300) .. 2 10 0 N.C. Christchurch Gas (160) 14 0 4-Id Timaru Wool, rights (15G) 0 2 0 N.C. G. J. Coles (200) 115 — Id Macduffs Holdings, pref. (500) 0 11 7j + Jd N.Z. Drug (61) 5 16 0 + 1/Sales Reported, Unlisted Tekau Knitwear (100) 17 6 —6d

LATEST QUOTATION Buyers. £ s. d. Sellers. £ s. d. Comm, of Aust. .. 10 10 0 Pref. 1 5 6 Comm, of Sydney 22 10 0 E.. S., and A. National of A'asia, 6 10 0 7 5 0 12s 6d i i 6 1 2 0 Union 10 10 0 Ballins, ord. 1 10 0 1 10 6 Pref. 0 11 3 0 11 9 Dominion 3 10 0 New Zealand 2 10 0 2 10 3 Queensland 1 16 0 Westland .. Coal— 2 5 0 — Kaitangata 0 15 0 0 19 0 Pukemiro .. Frozen Meat— 1 3 6 Canterbury 18 5 0 Gear 1 10 0 N.Z. Refrig., £1 pd. 2 0 0 10s paid 0 18 9 0 19 3 Nth. Cant., pref. .. 1 2 0 — Southland, x.d. — 3 4 0 Christchurch 1 4 0 — 16s paid 0 11 2 0 11 8 Timaru 0 12 0 Insurance— F.A.M.E. 1 2 9 National 1 5 0 New Zealand 5 11 6 __ South British 5 1 0 Standard ., Loan and Agency— 4 13 3 4 15 0 C.F.C.A., ord. 1 8 6 Pref. 3 8 6 __ Dalgety 0 10 5 0 11 0 Goidsbrough, Mort Nat. Mort. “A” 2 2 9 — 0 8 9 “B" 2 4 0 __ N.Z.F. Co-op. 0 13 3 0 13 9 First pref. 7 7 6 "A” pref. 5 2 6 __ “B” pref. 5 2 6 4} p.c. Stk., ’50-60 102 10 0 p.c. Stk., ’55 .. 102 10 0 N.Z. Guar. Corpn. N.Z. L. and Merc. 0 4 6 0 4 11 ord. 110 0 0 Perm. Invest. 12 12 6 — Perp. Trustees S.I. Finance United Building .. 2 10 0 2 15 0 1 3 0 Wright. Stephenson, c.d. Shipping— — Hud., Parker, c.d. 2 15 9 - Union, pref. Woollens— 1 8 9 Felt and Textiles of N.Z., pref. .. Kaiapoi (17s paid). 1 4 0 1 4 6 cum 1 8 9 Pref., cum. 1 8 5 1 9 0 Manawatu 3 1 0 Mosgie’ 2 13 0 Timaru, rights 0 1 11 0 2 0 Timaru Miscellaneous— 1 5 9 Acetone, pref. 1 3 0 Alloy Steel (N.Z.) 2 12 0 Ampol. rights 0 6 4 Andersons, 1st pf. 1 5 9 Apex Ice 1 18 6 Aust. CJ. Aust. Fnd. Invest., 2 13 0 2 16 0 Avon Metal 0 17 0 Beath and Co. 2 13 0 . Is paid 1 1 10 Begg and Co. 1 18 6 Booth, Macdonald — 0 4 6 British Tobacco — 2 6 6 Broken Hill Pty. 2 10 3 2 10 6 Colonial Sugar, rts. Coulls, Somerville. 1 9 0 Wilkie 1 16 6 Consolid. Brick 0 8 0 Dental and Med. 1 11 0 Eonaghy's Rope .. 3 2 9 D.I.C., 10s pd. — 1 14 0 Dunlop N.Z., pref 0 18 3 0 18 6 Electro. Zinc, ord. 3 16 0 i— Pref. 3 15 0 3 17 9 Evans Atlas 1 7 0 Farmers’ Trading 2 2 6 Frozen Products 1 1 0 — >rdon and Gotch 1 2 6 1 5 0 J. Coles 1 1 3 fields 0 15 6 s, Ltd. 3 16 0 aes 1 16 0 _— . Niven 2 5 0 D.V. Boxes 0 12 0 icduffs Holdings, pref. 0 11 7 Macky Logan 2 4 0 Maling, pref. Mas., Struthers, £1 1 ™ 3 — paid, c.d. 1 13 3 14s paid, c.d. 1 2 3 — 10s paid. c.d. 0 15 0 Matches (N.Z.) 0 2 6 — Metters (N.Z.) 1 2 7 1 6 6 Milburn Lime 1 17 0 Marches, pref. 0 17 6 M.K. Manufac. 0 12 0 0 12 8 N.Z. Drug 5 16 0 5 17 0 N.Z. Express 0 14 0 — N.Z. Farm. Fert. 1 14 6 — N.Z. Forest Prods. 0 6 0 __ Pref. — 0 13 11 Ctago Daily Times Quill, Morris (1936), 2 7 0 — c.d. 2 6 — Radio (1936. x.d. 0 15 0 — Reid Rubber 0 16 0 0 16 3 Pref. Smith and Smith, 1 0 6 1 1 0 pref. 1 3 0 — Skellerup. pref. . — 1 2 3 Weeks, pref. 1 6 0 — Whit. and Tombs 1 5 0 — Wilson's Cement .. 1 0 0 1 1 0 W’worths. ord. — 1 4 3 Rights —_ 0 14 0 (N.Z.), ord. W R. Cooke and 1 6 0 1 6 6 Son 0 8 7 — UNLISTED STOCKS Buyers. Andrews & Beaven, pref. £ s. d. £ s. d. 1 4 0 Dominion Life Brit. Stand. P. 0 8 3 0 9 0 Cement, Ils 3d pd. — 0 8 6 Christchurch Press 13 5 0 14 2 6 Gadsdens, ord. 1 6 3 Pref. 1 3 7 1 3 9 Lane, Walker, Rudkin, c.d. Mac., Caley, Phoe3 1 0 nix, 15s pd. 1 16 0 Matea Forests Reece, Ltd., E., 0 2 1 ord. 0 1 3 0 1 8 Reece, Ltd., E., 0 12 3 Scales, C, pref. .. 0 8 3 0 9 0 Tekau Knitwear .. 1 8 0 Taramakau, 5s pd. 0 5 0 Victoria Mansions 1 2 0 Tingey, R. and E. Waikari Lime, 17s 1 0 0 — 6d paid .. 1 13 0 —