COMMERCIAL

Press, Volume LXXXVII, Issue 26362, 5 March 1951, Page 3

COMMERCIAL

STOCK EXCHANGES WEEK’S TRANSACTIONS REVIEWED

The position on the waterfront had no appreciable effects on markets on the Christchurch Stock Exchange. The customary air of solidity continued throughout the week. The week was fairly active and listed transactions recorded a good percentage Improvement over the previous week. The week in Australia started on a very active note, but at the close markets were irregular in lighter trading. Australia, too. has its waterfront problems. Scant advices from London, coupled with a study of the overseas sharemarket Indices—a reliable guide in mdst seasons of the year—setve to indicate a fairly steady barometer for stocks of Interest to New Zealand. The turnover in Christchurch 'at 14,815 shares was 5279 up on the tally of the irevious week. Details, with the figures 'or the previous week in parenthesis, are as follows:—Government securities, £4lOO (£1610); bank shares, nil, 286; breweries, 1205 (150); frozen meat, 100 ( 760); Insurance, 250 (100); loan and agency, 4443 (320) shipping, 400 (1000); woollens. 400 (nil); miscellaneous, 7620 ( 6410); mining, 200 (300): unlisted, 200 (210).

The turnover in Government securities was up on that of the previous week, but no appreciable business was transacted. Steady rates prevailed and inquiries remained firm for ail.issues. The banking section was devoid of sales, and sellers appeared to predominate without attracting buyers. Activity prevailed in the breweries, section. Ballins sold early in the week at 30s 9d—a rise of la—and sales at the close were made at 31s 2d. New Zealand Breweries sold throughout the week at prices from 52s 9d (unchanged) to-52s 6d. Most issues were freely quoted throughout the week in the frozen meats section, but Southlands registered the only sale in a transaction at 76s 6d. In the insurance section New Zealands rose 2s in business at £8 13s. and South British, too. scored a rise of 3s 6d jn trading at £6 3s 6d. Because of the interest in New Zealand Guarantee Corporation the loan and agency section registered an appreciable rise In transactions. The shares of thia finance company, which have been actively traded throughout New Zealand during the week, sold locally at the unchanged price of 2s 2d. National Mortgage A shares, cum dividend, were disposed of at Ils 6d. a fall of 6d on prevlbus business. Steady quotations were evident for Dalgetys and New Zealand Farmers’ Co-operative shares, and buying inquiries improved for Wright, Steph, ensons without any business resulting. Among the shipping stocks Union Steam preferences were traded Id up at 28s 4d. Kaiapoi Woollens sold unaltered at 295. Felt and Textiles, New Zealand, ordinary shares rose 6d in a transaction at 435. Tlmaius appreciated 6d to sell at 27s 6d. Business in the miscellaneous section covered a fairly wide field. Broken Hill Proprietary, cum rights, were traded at 53s 8d early in the week arid later were quoted ex rights. The rights to this company’s new shares had several sales at sold early in the week at 80s 3d—down 3d—but Improved in the dying stages of the week, buyers offering 80s 6d, with sellers 8d shy. Colonial Sugars sold at £6l 10a—an odd loti—representing a fall at 30a. The righto to the new shares In Burns. Philp fell slightly to sell at 48s and 47* 6d. and Milers asked 48s at the close of the week. Woolworths, Ltd., had sales at 218 6d. 21* ?d. and 21s 9d. and rounded off on Friday afternoon with a aaia at 225; the company’s right* sold at 18s 3d, and on Friday advanced Id to sales at 16s 4d. New Zealand Forest Products again en-joyed-feii'ly active trading to sell at 0s 6d to 8* lOd, marking an advance of Id to Mil at Ifo Woolworth* New Zealand sUriPkd 3d to sale* at 30s 9d. Hay’s, Ltd, CUm righto to new issue, found new owners at 88*. Whakatane Board Mil’s changed hands at 25s 3d down to 255. New Zealand Drugs, which have been attracting considerable attention of late, sold unchanged at £6 10*. Mount Lyells suffered a slight fall «o sell at 23* 6d. Thia -was the only recorded vangaction in thejnmffig (section. For most of the New Zealand mining stocks, as usual, buyers and Milan were hopelessly divided. The only sale in toe .unlisted h section was that of Ros* and Gtandininff st 47a.

GROCERY- NOTES

Canned TomatoM.—The Wairba factory reports that because Of be*vy\rains th* Crop in that area is k nCbmpleM failure, and th* factory ha* ttMn.-tinobloto pack. No report* have yet >been received from Nelson or Hawke* Bay. which! nr* th* main sourcas of supply. Tartaric and Citric Acid.-*~No quotations can be obtained from the united Kingdom or Australia, but price* hav* been received from the United States' for tartaric and from Italy tor citric acid. In both cases they are higher than any previously recorded, but, as the household demand is very small, this will mainly concern manufacturers. Plena*.—Th* Hawke's Bar cannery has packed a quantity in 30oz cans, and de- . liveries may be expected when ships are again moving. It to two years since plums were last packed, and the price Is Id a dozen higher than previously. Poultry Mash.—The Price Tribunal has authorised increased price* on poultry mash. One manufacturer advises that laying mash has advanced by £1 7s 6d a ton. and chick mash by £1 lq* a ton. Genuine Glace Ch*rrl*«.—An Auckland pack in 2oz waxed pottles will be available as soon as shipment coastwise can be effected. These will no driubt be welcomed by consumer* who Have had to be content with the imitation product. Gravy Powder.—Advice has been received from an Auckland manufacturer that the price of hi* pock has been inhas also advanced and win now retail at Freight Rafesz—’ftw rai* from Singapore to New Zealand will be Increased by 12>,j. per cent, from April 1. The next sailing is the Wairata, which win not load until April, so ber cargo will bear the hitaier rate. Canned Fruft.—New season 1 * prices tor Australian pack* are 3s 6d a dozen above last season's, and indications are that the New Zeeland allocation will be much below requirements. One packer writes as fallows "Australia and Victoria, in par- , tlcuiar, is at present experiencing the most drastic and paralysing power restrictions ever imposed, ana these restriction* have had ;* disastrous effect on ■ our factory production. Mainly through power restrictions and also due to strikes. ’ sugar production In Australia has been severely > Tobacco and Cigarettes.—Manufacturers . generally are using rail-air whenever pos- : sible, and some supplies will be coming to hand shortly. Space by this mean* is limited, as the calls are many. RANGIORA HORSE FAIR 1 A small yarding of 16 comprised the , Rangiora horse fair on Friday. Demand was poor. Aged horses made from £4 ‘ to £7, and hack* sold at from £7 to ’ £lO.