COMMERCIAL

Press, Volume LXXXVII, Issue 26465, 5 July 1951, Page 8

COMMERCIAL

STOCK EXCHANGES BRISK BUSINESS YESTERDAY Yesterday was an exceptionally busy day on the Christchurch Stock Exchange. This w;as doubtless due in some measure to the improvement in the industrial situation in the Dominion. Business was of a diversified nature and a wide range of stocks was dealt in. Price levels generally were well maintained, and some appreciable gains were recorded, including rises of 5d in Dunlop New Zealand preferences, and 4d in Norvic Shoes. Christchurch Gas shares arrested their decline with a rise of 3d in a sale at 19s. Government securities were actively traded, and at the end of the day there was a long list of unfilled buying orders. All told, it was a good day.

AUCKLAND Sales.—l/10/53, 2} per cent. (£590), £99 ss; 15/12/53-56, 3 per cent. (£2000), £99 15s; 15/4/56-59, 3 per cent. (£500), £99 17s 6d; 15/7/63-65, 3 per cent. (£7700), £lOO 10s; Comm. Bank of Aust. (100), 255; National Bank of N.Z. (100), 70s; Bank N.S.W. (5), £43 10s; Dominion Breweries (100), 82s; N.Z. Insurance (100), £6 10s; South British (50), £6 Is; Wright, Stephenson (50), 765; Devonport Ferry (100), 29s 6d; Taupo Totara (100), 435; Broken Hill Pty. (100), 49s 6d; Colonial Sugar (28), £5B ss; Consolidated Brick (150), 12s 3d; D.1.C., pref. (120), 28s 3d; Dunlop, N.Z. (400), 19s 9d, and pref. (200) 19s 10a; David Jones (100), 45s 3d; Fletchers, rights (30), 5s lid, and (706) 6s; M.K. Manufacturers (200), 16s; Forest Products (160), Ils 2d. and pref. (810), 15s 6d; Reid Rubber (100), 18s; Tip Top Ice, rights (240), 12s 9d, and (200) 13s; Whakatane Board, pref. (300), 25s 6d; Wilson’s Cement (800), 21s 3d; Woolworths, N.Z. (150), 30s 6d. Unlisted: Associated Foods, pref. (400), 23s 9d; Farmers' Trading, “C” pref., new (150), 24s 6d; Norvic Shoes (100), 13s 3d; Ross and Glendining (200), 48s 3d. WELLINGTON Sales.—Late Tuesday: Woolworths, Ltd. (200), 22s 4d. Yesterday: 3 per cent., 52-55 (£1000), £lOO 7s 6d; 3 per cent., 5356 (£2450). £99 10s; National Bank. N.Z. (350). 70s; Wellington Gas (250), 25s 9d; Huddart Parker (150), 575; British Tobacco (100), 39s 9d; D.1.C.. pref. (300), 28s 6d; Dunlop, N.Z., ord., two sales (575), 19s 9d; Fletcher Holdings, rights (50). 6s; G. J. Coles, two sales (400), 24s 3d; Hallenstein Bros. (100), 365; J. J. Niven (200), 56s 6d; N.Z. Paper Mills (569), 37s 6d. Unlisted: Black and White Cabs (100). 4s; Norvic Shoes, two sales (200), 13s; Ross and Glendining, two sales (350), 48s 3d; Wormaid Bros., N.Z., pref. (300). 13s. After call: Wright Stepkenson, ord. (200), 765; Ballins Brewery (200), 32s 7jd, and (100) 328 9d; Fletcher, rights (250), 6s; Woolworths, N.Z., three sales (1500), 30s 6d. Unlisted: Wormaid Bros., N.Z., pref. (500), 13s. DUNEDIN Sale.—Woolworths. Ltd. (400), 22s 3d. Sales Reported.—3 per cent., 1959-61 (£4500). £lOO 10s; National Bank of N.Z., late (100), 70s; Brown Ewings, pref., late (600). 265; G. J. Coles (300), 24s 4d; Kempthorne Prosser (53), £6 ss; N.Z. Paper Mills (869), 37s 6d; 31 per cent., 1953-57 (£450), £lOl 15s; 4 per cent., 195255 (£610), £lOO 7s 6d; National Insurance (100), 275; Wright. Stephenson, ord (200), 765; Union Steam, pref. (250), 28s 6d:; D.1.C., pref. (120), 28s 3d, and (400) 28s 6d; G. J. Coles (500), 24s 6d; Whakatane Board Mills, pref. (100), 25s 6d; Woolworths, Ltd. (1001, 22s 3d; Mt. Lyell (200), 21s 7d; Clutha River (1000), Is 2}d.

LATEST QUOTATIONS

OTHER EXCHANGES SYDNEY Share dealings on the Sydney Exchange yesterday were again on a steady basis, but several prominent stocks showed fluctuation. Sales.—Commercial Banking of Sydney, £7 Ils; Bank New South Wales, £4B 15s; Tooths, £5 2s 6d; Associated News, 13s lid, and pref. 18s 3d; Anthony Hordern, 25s 4jd; Aust. Paper, 33s 6d, and cont. 20s IJd; A.C.1., 81s 6d; Berlei, 69s 6d; Broken Hill Pty.. 57s 3d. and cont. 35s 3d; Dunlop, 50s 9d; Feltex, 52s 6d; Coles. 28s 6d; Burns Philp, 87s 6d. and cont. 68a 9d; Colonial Sugar, £6B 12s 6d. and cont. £4B 10s; David Jones, 535: Drug Houses, 53s 9d; Goldabrough, 52s 3d; Hadfields Steel. 32s 3d; Henry Jones, 78s; Woolworths, 25s 3d: Wilcox. Mofflin, 10s lOd; Yarra Falls, 645; Mount Lyell. 25s 3d; Wellington. 2s 3d; Oil Search, 4s 8d; Broken Hill South, 695.

MELBOURNE Trading was active at firm prices on the Melbourne Stock Exchange yesterday, but a few narrow falls were shown in several leading issues. Sales.—Commercial Bank of Australia, 295; National Bank, 235; Carlton, 575; Goldsbrough, 525; Australasian Paper, 33s 2d, and new 20s; A.C.1.. 81s 3d; Broken Hill Pty., 575. and new. 35s 3d; Drug Houses. 545; Dunlop, 50s 9d; Felt and Textiles, 52s 6d, and new 50s 9d; G. J. Coles. 28s 6d; 1.C.1., 435; Herald. 18s; Woolworths, 25s 3d; BroketrHill South, 66s 9d; Mt. Lyell, 25s 6d; North Broken Hill. 925; Emperor. 8s 9d; Mt. Morgan, 25s 9d; Oil Search, 4s 4d. LONDON Australia and New Zealand Bank, sale 41s l)d; Commercial Bank of Australia, buyer 26s 3d. seller 27s 6d; E.. S., and A. Bank, sale £6 5e 71d; Bank of New South Wales, buyer £43. seller £44; British Tobacco, sale 365; Goldsbrough Mort, sale 40s 3d; Dalgety. sale 12s 9d; National Bank of New Zealand, buyer 66s IOJd. seller, 69s 4{d; Dalgety, 1955-70, buyer £99; seller £102; N.Z. Loan and Mercantile, 4 per cent, debs., buyer £9l, seller £95; New Zealand Loan and Mercantile, ord. stock, sale £124; P. and O. deferred, middle price 63s 6d; Broken Hill North. 70s 7jd; Broken Hill South, 52s 6d; Broken Hill Pty.. 465; Consolidated Zinc, 33s 3d; New Broken Hill, 30s; New Guinea, Is 7jd; Mount Morgan, 20s 4jd.

Import Control Criticised.—“The retention of Import control is now hard to justify," said the chairman of directors of A. J. Entrican, Sims, and Company, Ltd., Mr R. J. Sims, at the annual meeting of shareholders yesterday. “A free market would curb the upward price tendency of the manufacturer who is allowed a cost plus basis to compute his selling rate, such costs including many extras which are added by some factories." The list of decontrolled prices could with advantage be extended, said Mr Sims. All that merchants wanted was a fair return over expenses and competition in any case would take care of any excess charging.—P.S.S.

DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change £ s. d. Var’n 3 p.c., 1955-58 (£1500) 100 12 6 3 p.c., 1960-63 (£1300) 100 0 0 National Bank of A’asia. 12s 6d paid (100) .. 1 0 6 N.C. Ballins Breweries, cum. div (100) 1 12 6 + 6d Ballms Breweries, cum div. (100; 100) 1 12 9 +9d N.Z. Refrig, £1 paid (150) 2 4 6 —1/Christchurch Gas (400) 0 19 0 4-3d Nat. Insurance (200) 1 7 0 N.C. Dalgety & Co. (200; 100) 0 13 6 —9d Dunlop, N.Z., pref. (100) 1 0 0 + 5d Milburn Lime, contr. (100; 100; 100) 0 12 6 N.C. N.Z. Forest Prod., ord. (100) 0 11 1 -Id Woolworths, N.Z., ord. (100) 1 10 6 N.C. Sales on Change, Unlisted Hugh J. Kearns (100) 1 10 0 —

Sales Reported 3 p.c., Dec., 1953-56 (£200; £2450) 99 15 0 3 p.c., 1955-58 (£900) 100 12 6 3 p.c., 1960-63 (£910) Nat. Bank of N.Z. (200; 100 0 0 — 150: 82) 3 10 0 N.C. Bank N.S.W. (3) 43 10 0 -15/Union Steam, pref. (250 Broken Hill Prop. (50; 1 8 6 N.C. 50) 2 9 0 N.C. Courtaulds, 10s pd. (late <1M ! 1 1 3 8 0 6 N.C. Fletcher Holdings, rts. (37) 0 6 0 Mason Struthers (200; 100; 100) 1 16 6 K.P. and Co. (53) Skellerup . Industries, 6 15 0 +6d pref, (late sale Tuesday) (300) 1 3 9 + 1/3 Sales Reported Unlisted Andrews & Beaven, pref. (late sale Tuesday) . (100) 1 5 0 Norvic Shoes, 10s paid (100) 0 13 4 +4d Wormaid Bros., pref. (300) 0 13 1 —

Buyers. £ s. d. Sellers. £ s. d. Banks— Comm, of Aust. .. 15 0 15 2 Pref a— 9 5 0 Comm, of Sydney —— 23 10 0 Nat. of A’asia., £1 —a— 1 15 0 12s 6d 1 0 0 1 0 6 Nat. of N.Z. .» 3 10 0 3 10 6 N.S.W. 43 10 0 44 0 0 Breweries— Ballins, ord., c.d. .. 1 12 6 1 12 10 Pref., c.d. 1 2 10 New Zealand —— 2 13 Westland .. 2 6 0 i — Coal— Kaitangata .. 1 7 0 1 9 0 Pukemiro a—a 1 10 0 Frozen MeatCanterbury, pref. 8 5 0 8 15 0 N.Z. Refrig., £1 pd. — 2 4 6 Nth. Canty., pf. .. 1 3 0 —■II Southland —— 3 17 6 Waitaki 10 17 6 a— GasChristchurch .. 0 19 0 Timaru •. 0 14 9 ——* InsuranceNational ,. 1 7 0 17 1 New Zealand 6 8 6 a—— South British 6 10 6 2 0 Loan and Agency— k Dalgety Gen. Finance 12 6 0 14 0 Goldsbrough Mort — 2 7 0 Invincible Bldg. .. 5 5 0 *— Nat. Mort. "A* .. 0 11 4 0 11 6 N.ZT. Co-op. —— 0 16 0 “A” pref. 6 0 0 — "B" pref. 6 1 0 6 5 0 4J p.c. Stk., '60 .. 104 0 0 —• 41 p.c. Stk., '55 .. 104 0 0 aa— N.Z. Guar. Corpn. 0 2 2 0 2 3 Perm. Invest. 13 7 6 United Building .. 1 3 4 aa—> Shipping— Devonport Ferry, c.d. 1 8 0 a—Union, pref. 18 9 Woollens— Bruce 2 3 0 a— Felt and Textiles 2 4 0 2 6 0 Felt and Textiles of N.Z 2 4 0 2 6 6 Pref 1 4 9 a— Kaiapoi, 17s pd. .. 19 0 >— Oamaru 3 0 0 Timaru 17 0 — Miscellaneous— Acetone, pref. 13 0 —» Alloy Steel, N.Z. —- 2 12 6 Aust. C.I. 3 10 0 — Avon Metail —— 0 16 0 Beath and Co. 2 17 0 aa— Is paid 16 0 a— Begg and Co. 2 16 2 2 6 Booth, Macdonald 0 3 9 a>— Pref 0 14 6 British Tobacco .. 1 19 6 —a Broken Hill Pty. .. 2 9 0 2 9 6 Claude Neon, N.Z. 2 13 0 Colonial Sugar 58 0 0 Contr., new 40 0 0 _a> Consolidated Brick — 0 12 6 Courtaulds, 10s pd. 1 3 0 Dom. Builders 0 14 0 Dom. Fertiliser 1 17 3 — Dom. Rubber i ii 6 Donaghy’s Rope .. 3 0 0 Dunlop, N.Z. — 10 0 Pref. 0 19 10 10 0 Electro. Zinc, ord. _—, 5 0 0 Evans Atlas 1 7 6 19 6 Flecther Hldgs., rts. 0 5 9 Gordon and Gotch 12 0 G. J. Coles 1 4 0 14 4 Greater Crystal .. 13 7 Harley Chambers .. 1 9 0 1 11 0 Hay’s. Ltd. 4 4 0 Henry Jones 3 10 3 4 0 Henry Berry 1 3 0 13 6 LC.I. A. N.Z., ord. 1 15 9 J. Gadsden 19 0 1 10 0 Pref. 14 9 J. J. Niven 2 16 3 McKenzies ,, 3 6 0 McLeod 2 13 0 — Maling, pref. 12 6 Mason, Struthers, £1 paid —— 1 17 0 Midland Mot., pref. 1 1 9 Milburn Lime, cont. 0 12 4 0 12 9 M.K. Manufacturers 0 16 3 Morts Dock 1 4 3 14 9 K.P. & Co. 6 15 0 N.Z. Forest Prod. 0 11 0 0 11 2 Pref. 0 15 0 0 15 8 Otago Daily Times 2 11 6 Reid Rubber 0 17 6 Pref 116 __ Silknit 1 10 0 Simpson and Wili liams 3 10 0 __ Skellerup, pref. .. 1 3 9 14 0 Turnbull and Jones 2 2 9 Weeks 2 9 0 a—. Whakatane Board Mills, pref. 1 5 3 Whit, and Tombs 17 9 — Wilcox Moffiin 0 8 7 Wilson Malt 114 8

Buyers. Sellers. £ s. d. £ s d Wilson’s Cement .. — 1 1 4 Woolworths, ord. .. 12 0 1 2 3 (N.Z.), ord. 1 10 3 1 10 7 Properties W. R. Carpenter 1 4 0 0 16 0 •— W. R. Cooke & Son 0 8 3 — Overseas Listings— Woolworths (S.A.) 10 0 1 2 0 UNLISTED STOCKS Buyers. Seilers. £ s. d. £ s. d. Amal. Batteries 15 0 1 7 6 Deaths, Is pd., 19s deposit Hugh J. Kearns .. Canty. Seed, N.Z. 2 5 6 19 0 1 10 0 —— John Chambers .. 1 16 0 Mack. Caley, Phoe., paid 0 10 9 Matea Forests 0 3 9 Norvic Shoes, 10s paid 0 12 11 0 13 6 National Tobacco .. 1 11 0 —— Reece, Ltd., E., ord. 0 2 0