COMMERCIAL

Press, Volume LXXXIX, Issue 27038, 13 May 1953, Page 10

COMMERCIAL

STOCK EXCHANGES PRICES MOVE IN SELLERS’ FAVOUR A moderate turnover was recorded’ on the Christchurch Stock Exchange yesterday. Prices continued to move in sellers’ favour. Firmer buying quotations—in some cases advances were fairly sharp—were noticeable for an appreciable number of stocks, including Kempthorne Prosser’s N.Z. Drugs, National Electric, McKenzies Department Stores, New Zealand Refrigerating contributings, Hays, J. J. Niven, and New Zealand Newspapers. The insurance section displayed less activity than has been the case lately, and sellers in some cases were inclined to accept a little less. Buyers for Nationals, however, slightly advanced their offers. Better buyers appeared for Dalgetys, but the market closed wide with sellers at 10s 3d, fid away.

.Kaiapoi ordinaries and preferences both had better buyers at 21s 7d and 21s 9d, respectively, but. in common with all other woollens, sellers kept off the market. Buyers for Wellington Woollen ordinaries raised their bids by 2s 6d. Broken Hill Proprietary showed a fractional advance on both buyers’ and sellers’ quotations, whilst Fletchers B preferences were also wanted at an advanced price. Chain store, issues continued to excite modest attention. A parcel of G. J. Coles changed hands at 14s Id and more were on offer at 14s 2d. McKenzies, cum dividend, were wanted 4d up at 13s fid, but no sellers appeared. The market for Woolworths, Ltd.’s ordinaries advanced one penny, closing quotations being buyers 13s Bd, sellers 3d away. The ordinary shares of Woolworths, N.Z., were wanted 2d up at 17s lid, but sellers hung off for 18s 3d. There was a reported sale of 400 at 18s. AUCKLAND Sales.—l/8/51-54. 3 per cent. (£10,000), £99 10s; 15/5/53-56, 3 per cent. (£825), £96 ss; 15/5/54-59, 3 per cent. (£500), £95; 15/5/64-66, 3 per cent. (£300), £9l 7s 6d; 15/9/57-60. 34 per cent. (£600), £95 12s 6d; 15/1/53-57, 3J per cent. (£1630), £99 ss; Auckland Harbour Board, 10/9/71. 3j per cent. (£300), £B7 ss; N.Z. Breweries (300), 39s 9d; South British (650), 50s 6d; Northern Steam, new (400), 9s 8d; Kauri Timber (250), 22s 9d; Rotoiti (750), 14s 3d; A.C.I. (200), 35s 3d. and (150), 35s 6d; Berlei (500), 25s 6d; Broken HiU Proprietary (65), 34s 9d: Dunlop. N.Z. (100), 15s 6d; Fletchers (300). 27s 6d. and “B" pref. (200), 21s 6d; Coles (400), 14s Id; K.D.V. Boxes (500), Ils 9d; M. and C. deb. (127). 42s 6d; Forest Products (200), 10s; N.Z. Newspapers (80), 435; Reid Rubber (400), 12s; Tip Top (250), 17s 3d; Wilson’s Cement, new (2500), 12s; Woolworths N.Z. Props., pref. (250), 21s 9d; Woolworths, Ltd. (1000), 13s 9d. Unlisted:Huntly Brick (100), 255; Innes Indust., pref. (100), 20s 9d; Ross and Glendining (50). 47s 9d. WELLINGTON Sales.—3 per cent., 1955-58 (£2000), £96 10s; 3 per cent., 1960-63 (£1260), £9l 12s 6d; W.F.C.A., pref. (200), 18s 9d; 3 per cent., 1964-86 (£1250), £9l sk; 3 per cent, December. 1963-56 (£300), £97 15s; Wellington Gas (100), 235; Matheson Minst., pref. (100), 18s; McKenzies, cum div. (200), 13s 6d; 34 per cent., 1957-60 (£600), £95 12s 6d: 34 per cent., 1953-57 (£1630), £99 ss; Wellington Gas (100), 235; South British Insurance (600, 2 sales), 50s 6d; A.C.I. (200), 35s 6d; Colonial Sugar, cum (5), £37 ss; G. J. Coles (100, 2 sales), 14s; Hume’s Indust., N.Z.. pref. (150), 21s 3d; Woolworths, N.Z. (400), 18s. After call: 3 per cent., 1959-61 (£630), £93,12s fid; Dalgetys (500), 10s. Unlisted; Ross and Glendining (100), 47s 9d; 3 per cent, 1960-82 (£1000), £92 12s 6d. DUNEDIN Sales.—3 per cent., 15/5/64-66 (£300), £9l ss; 34 per cent., 15/9/57-60 (£500), £95 10s; Wright, Stephenson, ord. (50), 56s 9d. and (10), 575. Unlisted: Mackintosh, Caley, Phoenix (100), 295. Sales Reported.— Broken HiU Proprietary (75), 34s 6d; Electro. Zinc, ord. (100), 24s 9d; Dalgetys (200), 10s: Burns, Philp (188), 41s. Unlisted: Mackintosh, Caley, Phoenix, contr. (349), Ils 6d. INVERCARGILL Sales Reported.—Berlei Industries (500), 25s 6d; D.I.C. (100), 23s 6d; Tip Top Ice (250), 17s 3d.

OVERSEAS EXCHANGES SYDNEY

Most leading shares rose strongly in a much brighter market on the Sydney Stock Exchange yesterday, but a shortage of good-class scrip kept business light. Sales.—Commercial Bank of Sydney. £2l 4s; Commercial Bank of Australia, 21s 6d; Tooths, ex dividend, 69s 3d; Associated News, 14s 3d, and pref., 17s 44d; Anthony Hordern, 20s; Australasian Paper, 18s; A.C.1., 435; British Tobacco, 34s 3d; Broken Hill Proprietary, ex distend, 41s 9d; Burns, Philp, ex dividend, 535; Colonial Sugar, £44 12s 6d; Felt and Textiles. 25s 3d; G. J. Coles,, 16s 9d; Goldsbrough, 38s; 1.C.1., 355; Woolworths, Ws 6d; South Broken Hill, 535; Oil Search, 2s 3d; Bradford, 34s 4Jd.

MELBOURNE More interest was shown in investment shares on the Melbourne Stock Exchange yesterday, and a firmer undertone was evident. Sales.— National Bank, 12s fid paid, 19s 9d; Goldsbrough, 37s 6d; Australasian Paper, 17s lid; A.C.1., 43s 3d; British Tobacco, 34s Id; Broken Hill Proprietary, 41s 3d; Drug Houses, 33s 6d; Electrolytic Zinc, 28s 9d; Felt and Textiles, 255; G. J. Coles, 16s 8d; Herald, 15s; Humes, 40s; 1.C.1.,* 34s fid; United Provisions, 13s; South Broken Hill, 53s fid; Emperor, 9s 8d; Mt. Morgan, 225; Oil Search, 2s 4d.

DOMINION TRANSACTIONS CHRISTCHURCH Sales on 'Change, Listed

CHRISTCHURCH QUOTATIONS

STOCK SALES

ASHBURTON Prices for ewes were firm on late rates and sold about the same price as last week at the Ashburton stock sale yesterday. Wethers were easier, from 2s to 3s a head. The yarding was of average size. In the fat sheep sectiom light wethers sold up to 545, medium wethers brought from 56s Id to 595. ‘ and heavy from 60s to 68s 7d. E. C. and H. White, Eiffelton, sold a line of 38 from 67s Id to 68s 7d. Medium ewes sold from 32s to 375, and heavy ewes from 38s to 43s Id. H. A. Sheat, Westerfield, sold 55 heavy ewes at 43s Id. Lambs brought prices up to 76s Id, a line of 78 being sold by Mr E. J. Body at this price. In the store section, 96 s.m. ewes were sold at 555. » TEMUKA “The Press" Special Service TIMARU,. May 12. Values eased £2 to £3 a head for an entry of not outstanding quality cattle at Temuka today. Store cattle also barely held to late rates. With southern competition, values for the best wethers appreciated 12s a head, and best ewes 5s a head. ' . * Late rates were held in the very large yarding of mixed quality store aheep. Values were:— , Fat Cattle.—Fat steers: best, £36 to £4l 17s 6d; medium, £34 to £35 17s 6d; light, £32 to £33 17s fid. Fat heifers: best, £2B to £33 Ts fid; others, £24 to «27s 17s fid, Fat cows: best, £22 to £24 7s 6d; medium, £l7 to £2l 17s 6d; light, £l2 to £l6. Store Cattle.—Bulls, £l2 to £23 15s; steer calves, £l2 to £18; heifer calves, £9 to £l5; 18-months Hereford steen, to £22 10s Fat Cheep.—Fat wethers: best, 79s to 84s Id; medium, 73s to 775; light, 65s to 725. Fat ewes; prime maiden, 50s to 60s: good. 45s to 50s; medium, 39s to 445; light, 27$ to 345. Fat lambs: prime heavy, 70s to 73s lOd; prime. 64s la to 68s lod; light, 53s lOd tJ 58s lOd. Store Sheep.—Wether lambs, 30s to 495: rape ewes, 20$ to 275; two-tooth ewes, medium, 60s; two-tooth wethers, 60s to 62s fid.

Broken Hill Proprietary (75) £ s. d. Var’n. 1 14 6 +2d Electrolytic Zinc, ord. (100) 14 9 N.C. ’ (200). ord. .. 14 6 -3d G. J. Coles (400) .. 0 14 1 N.C. Whakatane Board Mills, pref. (100) 1 0 9 +3d Sales Reported, Listed Australian Consolidated 1 Industries (200) 1 15 6 — Colonial Sugar (cum). (5) .. . .. 37 5 0 -5/Matheson Minster, pref. (100) 0 18 0 - Skellerup Industries, pf. (500) 10 0 N.C. Woolworths (N.Z.), ord. (400) 0 18 0 +3d

N.Z. Govt— Buyers £ b. d. Sellers £ i. d. 2} p.c., 1/10/53 .. 99 15 0 2J p.c., 15/8/54 .. 98 15 0 ww 2} p.c., 15/6/54-55 97 10 O 21 p.c., 15/5/55-56 '96 10 0 we 3 p.c., 15/9/52-55 .. 98 2 6 3 p.c., 15/2/55-58 ., 96 5 0 —— 3 p.c., 15/4/56-59 .. 94 15 0 3 p.C„ 15/11/57-60 .. 94 15 0 3 p.c., 16/8/59-61 .. 93 10 0 ■w 3 p.c., 15/4/60-63 .. 91 15 O 92 0 0 3 p.c., 15/7/61-63 .. 92 0 0 3 p.C., 15/7/62-64 .. 3 p.c., 15/5/64-66 .. 91 7 6 91 0 0 — 31 p.c., 15/1/56-59 97 0 0 Will .31 p.c., 22/5/60 .. w* 98 10 0 4 p.c., 31/5/54-58 .. 101 7 6 Other Debentures— Wellington City, 31 p.c., 1/11/62 Banks92 10 0 Aust. and N.Z., c.d. 1 12 6 1 13 6 Comm, of Aust. .. 0 17 a Comm, of Sydney no* e-

Buyers. £ s. d. Sellers. £ s. d. E.S. and A. 4 16 6 .4 19 0 Natl, of A., £1 c.d. 14 6 16 3 12s 6d, c.d. 0 16 0 —— Natl, of N.Z. 3 12 3 4 0 N.S.W., x.d. - .. —— 32 0 0 Breweries— Ballins, pref. 10 3 MM Ord. 12 0 MM New Zealand 1 19 « 2 0 0 Frozen MeatCanterbury 19 0 0 20 0 0 Pref 6 0 0 — ■ N.Z. Refrig. 1 11 3» 10s. . 0 15 6 0 15 9 Nth. Cantby. pref. 1 1 4 •MB Southland 3 0 0 MM Gas— Auckland .. MW 0 6 5 Christchurch 0 16.0 —— 10s paid ... 0 6 0 0 6 4 Timaru 111 MMH Insurance— National .1 '.112 ■W , * New Zealand 5 11 0 —— South British 2 11 9 Loan and Agency— C.F.CA, ord. 16 0 17 0 Dalgety 0 9 9 0 10 3 Golds., Mort., c.r. 1 10 0 ■ 1 11 6 Invincible Bldg. .. •— 4 19 0 Mutual Benefit 15 0 MM Nat. Mort. A. c.d. wm 0 8 0 B, c.d. 1 17 6 1 18 6 N.Z.F. Co-op. 0 11 6 •MM 1st pref. 6 0 0 MM “A” pref. MW 4 13 6 “B” pref. •■m 4 13 6 4J p.c. Stk., ’60 .. 95 5 0 M — 4J p.c. Stk., ’55 .. 95 5 0 MM N.Z. Guarantee .. 0 2 1 MM Perm. Invest. 10 15 0 ■MM P. Trustees, c.d. ... 2 3 6 MM S.I. Finance 14 3 MM United Building .. —M 0 18 9 Wright, Stephenson 2 16 0 MW Pref. 12 9 ■MW ShippingNorthern WM 0 9 9 Union, pref., c.d. .. WM15 0 Timber — Parker, Lamb 0 5 9 WM Woollens— Bonds 3 10 0 MM Bruce 1 15 0 MM Felt and Textiles (Aust.) 110 MM Kaiapol ». 117 MM Pref. 119 MM Lane v Walker, Rudkin .. 2 14 0 MM. Pref. 1 1 2 MM Oamaru .. 1 19 0 MM Mosgief ., .. 2 8 0 WM Timaru .. 12 0 12 3 Wellington 8 12 6 MM Pref 8 12 6 Miscellaneous— Amalg. Batteries .. 1 4 0 WM Anderson, 1st pref. 1. 1 6 WM Aust. CJ. 1 15 0 1 16 4) Aulsebrook, pref. .. 12 0 MM Beath and Co. .. 2 3 3 M— Booth, Mac. WM 0 4 10 RHtich Tobacco .. 18 0 19 0 B.H.P. . 1 14 6 1 15 0 Burns, Philp 2 3 0 MM Claude Neon, N2. 2 19 —— . Colonial Sugar, c,d. 37 0 0 37 10 0 Dental, Medical .. 1 12 0 MMB Dorn. Fertiliser • 1 11 0 MM Dom. Builders ,. 0 11 0 0 12 0 Donaghy's Rope .. 2 11 9 MM D.I.C.I pref 12 6 ■MB Dunlop Rubber ... 14 0 . MM Electro. Zinc. ord. 14 3 14 5 Pref. 12 0 13 9 Fletchers "B," pf. 116 MM Frozen Products .. i M 0 7 0 G. J. Coles 0 14 1 0 14 1 Greater Crystal .. 10 0 12 6 Hallensteins 17 0 MM H. Berry .. 116 WM .Hay’s 3 7 0 BM* Humes, N.Z.. pref. 1 1 4 <115 I.C.I., A., N.Z. .. 19 0 MM J. Gadsden 15 0 MM Prof. J. J. Niven .. 1 1 6 2 16 0 MW New 2 14 6 MM K.P. Drug* 5 4 0 MM Ma ling, pref. WM 110 McKenzies, c.d' .. 0 13 6 MM Matheson Min., pf. 0 18 0 WM Metters, N.Z. 0 9 3 WBW Milburn Lime • Ww 13 3 M.K. Manufac. 0 12 9 0 13 3 Natl. Electric 4 8 0 BMW N.Z.F. Fert. 1 17 0 MM Pref 13 0 WM N.Z. Forest Prods. 0 9 11 MM Pref. 0 14 6 -WM N.Z. Newspapers .. 2 3 0 i Norvic Shoes WM 10 0 Otago Daily 2 4 9 Quill, Morris 10 0 Mm Reid Rubber, pref. O 17 3 WM Sharland .. 2 4 0 WM Smith, S., pref. .. —— 110 Simpson, Wims. 2 16 0 WM Skejlerup, pref. .. — 10 3 Tingey, pref. 14 6 MM> TUrnbull and Jones 1 14 9 MM Pref. 10 6 ■MB Weeks, pref. 119 MM Whakatane, ord. .. 0 17 3 MW Pref. 10 6 1 1 6 Whit, and Tombs .. 0 19 9 10 6 Wm. Cable 15 9 MM Wm. Cable (New) 15 0 MM Woolworths, ord. .. 0 13 8 0 13 11 (N.Z.), ord. 0 17 11 0 18 3 Pp., pf. 119 MM W. R. Cooke 0 7 6 ■BW Australian MiningMount Lyell .. 0 15 6 WM Mining— ■ Grey River 0 1 10 0 2 9 UNLISTED STOCKS Amuri Lime 10 0 Andrews and Beaven., pref. . .. 1 1 0 12 0 New 10 9 119 Beaths (Is paid, 19s deposit) **. 1 13 0 BwW > Canty. Seed (N.Z.) ■MB 1 13 6 Mack.. Caley, Phoe. 18 0 WM Contr. 0 10 9 MM Matea Forests 0 2 1 —— Prudential Building *WM 10 0 Rink Invest. WM 1 12 0 Scales “C” pref. .. Ross and Glendin0 5 2 — ing 2 7 0 WM Tekau MM 14 0 Vi aria Mansions 16 0 MW