COMMERCIAL

Press, Volume LXXXVI, Issue 26205, 31 August 1950, Page 8

COMMERCIAL

STOCK EXCHANGES BUOYANT MARKETS A moderate turnover was recorded on the Christchurch Stock Exchange yesterday. Dealings were well spread and, witn the exception of G. J. Coles’ shares, there was a continued demand for Australian industrial and chain store issues at higher prices. DOMINION TRANSACTIONS CHRISTCHURCH , £ s. d. Var’n. Sales on ’Change Colonial Sugar, rts. (1) 30 0 0 +l5/G. J. Coles (100; 100) .. J < » G. J. Coles (100) .. ISO —4d Sales on ’Change, Unlisted Gadsdens, pref. (100) 1 311 N.C. Sales Reported 3 p.c., 55-53 (£800) .. 99 5 0 Dornin. Breweries (100 ) 312 6 N.C. N.Z. Insurance (100) .. 511 6 +4/3 Wellington Wool, pref., ex div. (113) •• 10 0 0 Woolworths, N.Z. <150; _ 250) .. •• 16 0 N.C. N.Z. Guarantee, late sale _ Tuesday (500) • - 0 4 9 N.C. Sales.—l/S/Sl-SI! 0 ? per cent. (£665), £99 10s; Auckland Gas. 4J perp. deb. stocK (£500), £lOO 10s; Commercial Bank of Aus. (500), 26s 3d; National Bank of N.Z. (270), 59s 9cL and (750), 60s; Bank .of N.S.W. (5), £42 15s; Dominion Breweries (200), 72s 6d; Auckland Gas, 5s paid (MO). 4s 8d; N.Z. Insurance (50), £5 Ils 6d; F.A.C., “B” pref. (150), 275; Bruce Wool (50), 425, Timaru Wool, rights (100), 2s Id; Hill Proprietary (400), 545; Colonial Sugar, rights (3), £29 15s, and (6), £29 17s 6d, Consolidated Brick < looo }’ ® s; o -v Trading (100), 435; Coles (600), 255; K.D.V. Boxes (450), 12s 6d; M.K. t Ma ?" laC s^ r oJ S (265), 12s 6d; Forest Products (100), 6s 3d, N.Z. Refrigerating, 10s paid (500), l»s. Radio, 1936 (200), 15s 3d; Sharland, pref. (176), 52s 9d; Skellerup, pref. (200), 225, Tip Top Ice (600), 20s; Union Oil (100), 345; Woolworths, Ltd., rights (200), Ms Jj. Mount Morgan (2do), 22s 6d. Alex. Harvey (400), 56s 6d; H a rdie B ros., pref. (500), 20s; Gadsden, pref. (200), 245, Korma, ord. (100), 13s; R<k»e (450), 9s 6d; Ross and Glendining (450), 54s 6d; Whakatane Board (500), 19s,

WELLINGTON Sales.—Late Tuesday: National InS iHrance (400, 2 sales), 25s 3d. Unlisted: Tekau (250, 2 sales). 27s 6d. Yesterday: 3 per cent., May. 1953-56 (£200), £99 17s 6d; 3 per cent., 1959-61 (£3000), £9B 10»; 3 per cent., 1960-63 (£515), £99 ss; 3J per cent., 1953-57 (£815), £lOO 17s 6d; Commercial Bank of Aust. (600), 265; National Bank of N.Z. (50), 60s; National Insurance (200), 25s 3d; Wellington Investment Trust (100), 10s 3d; Fletcher Holdings, pref. (250), 31s 6d; Hallensteins (100), 29s 8d; N.Z. Drugs (50), £5 15s; Woolworths, Ltd., cum div (165), 25s Id, and (500, 2 sales), 25s 2d; Woolworths, N.Z. (492, 2 sales), 265. After call: Woolworths, Ltd., rights (334), 14s 9d; Coles (100), 255; Turnbull and Jones (200). 36s 8d; 3 per cent., December, 1953-56 (£825), £99 12s 6d; 3 per cent., May, 1953-56 (£950), £99 17s 6d; 4 per cent., 1952-55 (£lB4O, 2 sales), £lO2. DUNEDIN Sales.—Mount Morgan (300), 22s 6d. Sales Reported.—Commercial Bank (100), 265; D.1.C., pref. (500), 27s 6d; Woolworths, N.Z., ord. (250), 265. Unlisted: National Tobacco (200), 26s 3d. INVERCARGILL Sales Reported.— Huddart Parker (100), 56s 6d; Mackintosh, Caley (100), 42s 6d. LATEST QUOTATIONS Buyers Sellers £ s. d. £ s. d.

OTHER EXCHANGES

LONDON Bank of Australasia, sale £9 ss; Commercial Bank of Australia, buyer 25s 6d, seller 26s 6d; E„ S„ and A Bank sale £6 2s 6d; Union Bank of Australia, sale £9 Is; Bank of New South Wales, buyer £4O 5s seller £4l; British Tobacco, buyer 37k 3d, sellers 38s 3d; Goldsbrough, Mort sale 41s 6d; Dalgety, sale 10s 6d; National Bank of New Zealand, sale 49s 6d, Daleety, 4 per cent, debentures, buyer £99, seller £100; N.Z. Loan and Mercantile. 4 per cent, debentures, buyer £9o, seller £97; N.Z. Loan and Mercantile, ord. stock, sale. £ll7 10s; P. and O. deferred, middle price 495; Broken Hill Proprietary, 44s 6d; Consolidated Zinc. 30s; New Broken HUI, 32s 3d; Mount Morgan, 19s. SYDNEY , Strong conditions on the Sydney Stock Exchange yesterday lifted the index for industrial share prices to more than zoo—a new record. The base of 100 was established in 1934. - Sales.—Commercial Bank of Sydney, £26 16s; Bank of New South Wales, £4B 17s 6d; National Bank (12s 6d paid), 24s 6d; Tooths, 935; Tooheys, 41s; Associated News, 16s 6d; Anthony Hordern, 265; Aus. Paper, 325; A.C.1., *6ls 6d; British Tobacco, 47s 9d; Broken Hill Proprietary. 57s 9d; Colonial Sugar, £6l 10s; Colonial Sugar (rights), £3O ss; Electro. Zinc, 84s Gd; Felt and Textiles,. 51s; General Industries, 42s 6d; Coles, 26s 7Jd; Goldsbrough, 51s 6d; Howard Smith, 29s 9d; Mort’s Dock, 25s 6d; Wilcox, Mofflin (new), 20s 6d; Woolworths, 27s 6d; Bradford Cotton, 46s 6d; Burns, Philp, 925; Drug Houses, 465; Gordon and Gotch, 24s 9d; N.Z. Forest, 7s 2d; Mount Lyell, 23s 4Jd; Mount • Lyell (new), 22s 3d; New Broken Hill, 40s 6d; Broken Hill North, 88s; Broken Hill South, 54s 6d; Mount Morgan, 245; Oil Search, 4s. MELBOURNE Investments soared again on the Melbourne Stock Exchange yesterday, and the volume of trading was very heavy. Sales.—Commercial Bank of Australia, 27s 9d; Dalgety, 12s 6d; Goldsbrough, 51s 3d; Huddart Parker, 61s 6d; Australasian Paper, 325; A.C.1., 61s 6d; British Tobacco. 495; Colonial Sugar, rights, £3O 10s; Courtaulds, 6s 2d; Drug Houses, 45s 6d; Felt and Textiles, »51s 6d; Coles. 27s 6d; Herald, 20s; Howard Smith, 30s; Kauri, 35s 6d; Myer, 14s 2d; New Zealand Forest, 7s 6d; Yarra Falls, 71s 6d; Broken Hill Pty., 57s 9d; Broken Hill South, 54s 3d; New Broken Hill, 40s 6d; Mt. Isa, 41s 6d; Mt. Lyell, 23s Id; Mt. Morgan, 24s 3d. RESERVE BANK RETURN A decline of mote; than £ t.000.00Q ip sterling exchange is disclosed in the Reserve Bank return for the week ended August 23. Details, with the figures for the previous week in parenthesis, are as follows: Liabilities.—General reserve fund, £1,500,000 (same); bank notes, £54,627,200 (£54,321,364); demand liabilities: State, £12,124,553 ,(£11.519,594); banks, £70.393,785 (£72,715,184); other, £1,059,030 (£931,882); liabilities in currencies other than New Zealand currency, £67,742 (£12,790); other liabilities, £4,595,903 (£4,586,413). Total: £ (N.Z.) 144.368,213 ( £ 145,487,226). Assets.—Gold, £4,388,856 (£4,342.363); sterling exchange New Zealand currency, £56,253,487 (£57,413,575); subsidiary coin, £207,624 (£227,676); advances to State marketing organisations, £3,498,962 (£3,433,929); for other purposes, £53,000,000 (same); other advances, £5,479,527 (same); investments. £17,658,142 (same); other assets, £3,881,615 (£3,932,014). Total: £(N.Z.)144,368,213 (£145,487,226). Proportion of reserve to notes and other demand liabilities, 43.829 per cent. (44.295 per cent.).

Banks— Australasia 10 10 0 — Comm. of Aust. .. 1 6 0 — Comm, of Sydney 23 0 0 — N.S.W. 42 0 0 — Union 10 10 0 11 0 0 Breweries— Ballins, ord. 1 10 0 1 10 5 Dominion 3 11 3 3 13 6 New Zealand 2 10 0 — Westland 2 5 0 —— Coal— Kaitangata 0 19 9 Pukemiro 1 4 0 — Frozen Meat— Canterbury 18 5 0 — Pref. 8 2 6 — N.Z. Refrig.. £1 pd. —— 1 19 9 10s paid — 0 19 0 Nth. Canty., pref. 1 2 3 — Southland 3 3 3 3 5 6 Auckland 0 9 9 0 10 0 5s paid 0 4 7 — Christchurch —- i * 9 10s paid 0 11 2 0 11 6 Timaru .. 0 10 9 0 11 8 F.A.M.E. 1 4 0 — New Zealand 5 11 6 South British 5 1 6 . Standard 4 13 0 —. Loan and Agency— C.F.C.A., ord. 1 8 6 —— Pref. 3 8 9 Dalgety 0 11 6 0 12 0 General Finance .. 1 1. 6 — Goldsbrough, Mort 2 6 6 — Invincible Bldg. .. 5 7 6 —* Nat. Mort. "A” 0 8 9 — ’’B” 2- 5 0 2 7 6 N.Z.F. Co-op. 0 13 9 0 15 0 "A” pref., c.d. .. 5 2 6 —— 4i p.c. Stk., ’50-60 102 10 0 — 4J p.c. Stk., ’55 . . 02 10 0 — N.Z. Guar. Corp. 0 4 6 — N.Z.L. and Merc., ord. 133 0 0 —— Pref. 112 0 0 — Perm. Invest. 12 15 0 —• South Island Fin. 1 4 0 United Building .. — 1 4 0 Wright, Steph.enson 3 0 0 — Shipping— P. and O. 2 14 0 — Union, pref. 1 8 0 —— Woollens— Felt and Textiles 2 6 6 —— Felt, and Textiles of N.Z. — 1 18 6 Pref. 1 4 3 — Kaiapoi, 17s pd., ex. 1 7 3 1 8 6 Pref., ex. 1 7 3 1 8 3 Korma Tex., pref. 0 18 9 — Mosgiel 2 13 0 — Timaru, rights 0 2 0 0 2 6 Timaru 1 5 0 —— Miscellaneous — Acetone, pref. 1 3 0 — I Alloy Steel (N.Z.) — 2 12 0 Andersons, 1st pf. 1 5 6 —— Apex Ice 1 19 0 —— Avon Metal — 0 19 0 Beath and Co. 2 13 3 2 15 0 Is paid 1 2 3 — Pref. 1 7 0 •— Begg and Co. 2 0 0 Berlei (N.Z.) 1 9 0 —— Booth Macdonald — 0 4 6 British Tobacco — 2 6 0 Broken Hill Pty. 2 14 0 —— Claude Neon, N.Z. 2 15 0 — Colonial Sugar 57 5 0 —. Rights 29 10 0 30 0 0 Consolidated Brick 0 8 6 •— Dental and Medical 1 11 0 — Coulls, Somerville, Wilkie 1 17 0 — Donaghy's Rope .. 3 3 0 — D.I.C., 10s pd. 1 13 6 1 14 0 Pref. 1 7 3 1 8 0 Dunlop, N.Z. 0 17 0 — Pref. 0 18 3 0 18 6 Farmers Trading 2 2 « — Frozen Products .. 1 3 6 —— Gordon and Gotch 1 2 6 — G. J. Coles 1 4 10 1 5 0 Hadfields 0 15 6 — Hay’s, Ltd. 3 16 6 — Henrjf Jones 2 18 0 —— Humes 1 15 9 — J. J. Niven 2 5 0 — K.D.V. Boxes, c.d. 0 12 0 — Macduffs Hldgs., pref., x.d. 0 11 4 — Macky Logan — 2 4 0 McKenzies 3 J 6 — McLeod 2 18 0 Maling, prefi 1 2 3 — Matches, pref. — 0 17 6 Mason, Struthers, 10s paid, x.d. .. 0 14 0 Matches (N.Z.) 0 2 6 — Metters (N.Z.) .. 1 2 6 1 6 6 Midland 'Mot., pref. 1 2 0 —— M.K. Manufact. 0 12 6 0 12 9 N.Z. Express 0 14 0 — N.Z.F. Fertiliser .. 1 14 6 —— N.Z. Forest Prod. 0 6 0 6 4 N.Z. Newspapers .. 2 15 0 — Quill, Morris (1936) 2 10 0 — Radio (1936) 0 14 9 — Reid Rubber — 0 16 3 Pref. 1 0 7 —. Smith and Smith, pref. 1 3 6 — Simpson and Williams 3 0 0 — Skellerup, pf., c.d. — 1 2 6 Turnbull and Jones — 1 17 0 Weeks, pref. 1 6 0 Wilson Malt 1 13 0 — Whit, and Tombs 1 5 1 —— Wm. Cable 1 12 6 1950, new issue 0 16 0 Wilson’s Cement .. 1 0 0 1 1 0 W’worths.. ord., c.d. 1 4 7 — Rights 0 14 0 (N.Z.), ord. 1 6 0 — W. R. Cooke and Son 0 8 7 — UNLISTED STOCKS Buyers. £ s d. £ s d. Amalg. Batteries 1 6 0 1 10 0 Pref. 1 5 6 Charming Creek .. 1 15 0 — Beaths 'Is paid, 19s dep.) 2 0 0 —— Canty. Seed 1 8 0 — Christchurch Press 13 2 6 13 17 6 Dominion Life 0 8 4 0 9 0 Gadsdens, ord. 1 6 6 6 Pref. 1 3 11 1 4 0 Matea Forests 0 2 0 N.Z. Fisheries 0 10 0 0 13 0 Prudential Build. 0 17 6 1 2 6 Reece, Ltd., E., ord, c.d. 0 1 4 ___ Smith Wylie 0 18 0 —