COMMERCIAL

Press, Volume LXXXIX, Issue 27073, 23 June 1953, Page 13

COMMERCIAL

STOCK EXCHANGES MARKETS MAINTAIN SOLID FRONT The week on the Christchurch Stock Exchange opened yesterday on a sound note. There was a moderate turnover in diversified stocks, of which woollens predominated. Government securities were in unsatisfied demand, sellers appearing for only one issue. Banks were fairly quiet, and there were more sellers about, but buyers held the floor among the breweries.

There were better buyers for C.F.M. preferences at £6 2s 6d, and North Canterbury preferences at 21s 9d, but the section was bare of sellers as was also the insurance section. Dalgetys rights did not look like business, with buyers offering 3d against sellers’ price of 6d. Goldabrough Mort, rights actively traded unchanged at 5s 9d, and buyers remained m at this figure, with sellers Id away. For the first time for weeks, a seller appeared for Kaiapoi ordinaries, but the market closed wide, buyers offering Id up at 22s lOd. sellers holding on for 245. Felt (Australia) sold unchanged a l « 2s 6d> the market closing with buyers at 22s 3d—sellers 6d away. Felt and Textiles (New Zealand) gained Id in a sale at r 27s Id, and the market closed wide. Wellington Woollen ordinaries, which have been steady qn buyers’ quotations of £8 12s 6d for some time, changed hands 2s 6d up to £8 15s.

Broken Hill Proprietary were traded 3d down at 34s 6d, with buyers prepared to carry on at this price, but further sellers were missing. . Milburn Lipie sold 3d up at 23s 3d. with further buyers at 23s Id. Woolworths, Ltd., lost Id in a sale at 14s 2d, and the market closed With buyers offering 14s Id against sellers’ price of 14s 2d. There was no inquiry for Woolworths (New Zealand), for which sellers asked 19s 3d, ex dividend. /Coles were on offer at 14s 3d, and buyers were Id closer to business when they counter-offered 14s Id.

DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change, Listed

AUCKLAND Sales.—£slo 4 per cent. Stock, 1954-58, £99 15s; £5OO Auckland Harbour Board, 9/7/57, 41 per cent., £102; 103 Auckland Gas, 5s 9d; 90 N.Z. Insurance, £5 15s, and 50 £5 15s 6d; 100 F.A.C., "A” pref., 21s 9d, and 300 *‘B" pref., 21s 6d; 226 Goldsbrough, Mort, rights, 6s; 100 Kauri Timber, 21s 3d; 200 Feltex (N.Z.), 275; 100 Colonial Sugar, £36 7s 6d; 100 Farmers’. Trading, 38s; 400 Fletchers, 27s 6d; 400 G. J. Coles, 14s 2d; 200 Reid Rubber, pref., 17s; 330 Tip Top, cum div., 17s 6d; 700 Wm. Cable, new, 26s sd; 200 Wilson’s Cement, 12s lOd; 200 jyoolworths (N.Z.), 19s 3d; 200 Woolworths, Ltd., 14s 2d. Unlisted: 450 Wm. Cable “B” pref., 21s. WELLINGTON Sales.—£2so 3 per cent. Stock, 1951-54,' £99 10s; £750 3 per cent. Stock, 1952-55. £9B 2s 6d, and £2OO £9B 7s 6d; £265 3 per cent. Stock, 1957-flO, £93; £1925 3 per cent. Stock, 1960-63, £9l 12s 6d; 108 Wellington Gas. 235; 225 -Wright, Stephenson. 58s 6d; 25 Wellington Woollen, ord., £8 15s; 10 Colonial Sugar, £36 7s 6d; 400 Fletcher Holdings, 27s 6d; 100 Humes, Australia, 375;*100 J. J. Niven, new, 575; 75 N.Z. Newspapers, 43s 9d; 2.00 N.Z. Forest Products, Ils Id, and 100 pref. 16s; 500 William Cable, new (two sales), 26s sd; 200 Woolworths,’ Ltd., 14s 2d. Sales Reported.—£l92s 31 per cent. Stock, 1957-60, £95 2s 6d; 80 Dalgety, rights, 6d; 200 Gadsdens, 25s 6d; 73 Goldsbrough, Mort, rights (two sales), 5s 9d: 100 J. J. Niven, old, 595; 800 Woolworths, Ltd., 14s 2d. DUNEDIN Sales.—Late Friday: 100 Auckland Gas, 5s 9d; 150 Newton King, 10s 9d; 500 N.Z. Forest Products (two sales), Ils. Yesterday: £3OO N.Z. Govt., 3 per cent., 15/4/6063, £9l 12s 6d; 364 Goldsbrough, Mort, rights (two sales), 5s 9d; 265 Wright, Stephenson, ord., 58s 6d; 100 N.Z. Paper Mills, 32s 3d. Unlisted: 100 Mackintosh, Caley, Phoenix, 30s. OVERSEAS EXCHANGES SYDNEY Investment trading remained dull on the Sydney Stock Exchange yesterday, but barriers rose strongly, following the recent. strength in London of lead prices. Sales.—Aust, and N.Z. Bank, 37s 6d; Ampol, Bs 3d; Australasian Paper, 18s lid; British Tobacco, 35s 6d; Broken Hill Pty., 41s 6d; Burns, Philp, 54s 9d; Colonial Sugar, £43 10s; Courtaulds, 20s 6d; Dunlop, 29s 6d; Fairymead Sugar. 35s 6d; G. J. Coles, 16s 10Jd; Goldsbrough, Mort, 33s 9d, and rights 7s 6d; Henry Jones, 48s 9d; Howard Smith, 325; W. R. Carpenter, 15s 4Jd; North Broken Hill, 68s; South Broken Hill, 535; Mt. Morgan, 22s 3d; Oil Search, 3s lid.

Price variations in the investment section of the Melbourne Stock Exchange yesterday were small on moderate trading. Silver and lead stocks firmed.

Sales.—Aust, and N.Z. Bank, 37s 6d; Commercial Bank of Australia, 21s 6d; Goldsbrough, 33s Jd; Amalgamated Wireless, 29s 6d; Australasian Paper, 18s 2d; Broken Hill Pty., 41s 7d; Courtaulds, 20s lOd; Drug Houses, 32s 3d; Dunlop, 29s 6d; Electro. Zinc, 27s Id, and pref. 25s 6d; Felt and Textiles, 265; Coles, 16s lid; 1.C.1., 34s 9d; Broken Hill South, 53s 9d; North Broken Hill, 68s 6d; Emperor, Ils lid; Oil Search, 3s Bd.

£ s. d. Var’n. 114 Goldsbrough, Mort (rights), 3 sales .. 0 5 9 N.C. 300 Broken Hill Pty,, 3 sales 1 14 6 -3d 100 Milburn Lime 3 3 -|-3d100 Woolworths, Ltd. 0 14 2 — Id Sales Reported, Listed £1000 N.Z. Govt., 3 p.c., 1951-54 99 10 0 £1000 N.Z. Govt. 3 p.c., 1952-55 98 5 0 116 Goldsbrough, Mort (rights), 2 sales .. 0 5 9 N.C. 200 Felt and Textiles of Aust. 1 2 6 N.C. 200 Felt and Textiles of N.Z. 1 rj 1 4-Id 4-2/6 25 Wellington Wool 8 15 0 200 Broken Hill Pty., late sale Friday .. 1 14 0 -3d

CHRISTCHURCH QUOTATIONS N.Z. GovernmentBuyers. £ s. d. Sellers. £ s. d. 24 p.c, War Loan, 1/10/53 .. 99 15 0 24 p.c., 15/8/54 98 0 0 3 p.c., 1/8/51-54 .. 99 7 6 MM. 3 p.c., 15/9/52-55 .. 98 5 0 WM 3 p.c., 15/5/53-56 .. 96 17 6 MM 3 p.c., 15/12/53-56 .. 96 10 0 WUM 3 p.c., 15/2/55-58 .. 94 5 0 3 p.c., 15/4/60-62 .. 91 10 0 — 3A p.c., 15/1/56-59 .. 96 5 0 MM 31 p.c., 15/9/57-60 .. 95 0 0 — 34 p.c., 15/1/53-57 .. 99 0 0 MM 34 p.c., 22/5/60 — 96 10 0 4 p.c., 15/6/52-55 .. 99 10 0 4 p.c., 31/5/54-58 .. 99 15 0 MM Banks— A. and N.Z, 1 11 9 1 13 0 Comm, of Aust. .. 0 17 9 0 18 1 E., S., and A. 4 14 0 MM Natl, of A’sia (£1) _m 17 6 National of N.Z. .. 3 2 6 . MM N.S.W. 31 12 6 32 0 0 Sydney 32 0 0 Breweries— Ballins, ord, .. 12 9 MM Pref. 1 0 10 MM. New Zealand 1 18 3 119 9 Westland .. 1 10 0 MM Frozen MeatCanterbury, pref. 6 2 6 MM N.Z. Refrig., 20s .. 1 13 9 MM 10s , 0 16 6 MM Nth. Canty., pref. 119 MW Southland 3 0 6 MM GasChristchurch MM 0 16 3 10s paid •• 0 6 0 0 6 6 Insurance— New Zealand 5 15 0 MM Standard 3 19 0 M— Loan and Agency— C.F.C.A., ord. 16 9 UM Pref. 3 0 6 MM Ch’ch. Building MM 16 5 0 Dalgety, rights 0 0 3 0 0 6 Goldsbrough, Morts 17 3 MM Rights .. 0 5 9 0 5 10 N.Z.F. Co-op. 0 11 8 0 12 3 First pref. 6 2 6 MM “A" pref. — 4 13 0 *'B” pref. — 4 13 0 44 p.c. Stock, ’60 95 10 0 MM 44 p.c. Stock, ’55 95 10 0 M— N.Z. Guar. Corpn. 0 2 1 MM N.Z. L. & M., ord. 10 6 MM Perp. Trust 2 3 6 MW S. Island Finance, pref. .. .. MM 1 1 0 United Building .. 0 17 9 0 18 6 Wright, Stephenson 2 18 0 2 19 0 Pref. 1 2 10 MM Shipping— P. and O. .. 2 17 0 MM Union, pref. 14 6 MW Timber— Taupo Totara 3 11 0 MM Woollens— Bruce ' .. .. —— 12 6 Feltex .. • 12 3 12 9 N.Z. .. 17 0 17 9 N.Z., pref. 10 0 ■ Kaiapoi, 17s paid .. 1 2 10 14 0 Korma Text. 0 14 0 MM Lane, Walker, pref. 12 6 M— Mosgiel 2 9 6 Timaru 12 6 13 3 Wellington, pref. .. 8 12 6 — Miscellaneous— Amalg. Batteries .. 1 4’0 MM Andersons, 1st pref. 119 —M Aulsebrooks, pf. .. 12 0 -M Aust. C.I. 1 16 6 1 17 0 Beath and Co. 2 4 0 MW Begg and Co. 1 16 0 M— Booth, Mac. 0 4 6 0 5 0 Broken Hill Pty. .. 1 14 6 MM Colonial Sugar 36 5 0 36 10 0 Dora. Rubber 0 19 9 12 6 Dom. Fertiliser 1 10 3 __ Donaghy’s Rope .. M— 3 0 0 DJ.C., pref. 13 1 ~ ■ Dunlop Rubber 13 3 14 6 Electro. Zinc, ord. 12 0 13 9 Evans Atlas -Ww 0 18 8 Fletchers, “B” pref. — 1 a o

Buyers.. £ s. d. Sellers. £ s. d. Frozen Products .. 0 7 0 G. J. Coles 0 14 1 0 14 3 Greater Crystal .. 0 19 0 —— H. J. Kearns MM 14 0 Hallenstein Bros. .. 18 3 MM Pref. 5 13 0 MM Hay’s, Ltd. 3 8 0 MM. Henry Berry, pref. 116 MM. Humes 1 16 0 MM. Humes (N.Z.), pf. 12 0 MM I.C.I., A., N.Z. 19 0 MM. J. Gadsden, pref. .. 12 0 MM Maling, pref. 0 19 9 116 Mason Bros., pref. .113 MM, Mason, Struthers, £ 1 paid 1 13 0 MM McKenzies 0 13 3 0 13 6 Milburn Lime 13 0 — New, fully paid.. 12 9 MM M.K. Manufac. 0 12 9 0 13 3 Morris, Hedstrom .. mm. 2 2 6 McCaskey, J. J„ pf. 0 17 0 0 18 4 National Electric .. 4 10 0 M. N.Z.F. Fert., pref., c.d. 13 6 MM N.Z. Forest Prods. 0 11 0 N.Z. Newspapers .. 2 4 0 mm Norvic Shoes 0 17 6 0 18 8 Quill, Morris (1936) 10 0 MM Sharland .. 2 4 0 MM Skellerup, pref. .. —- 1 1 6 R. E. Tingey —- 14 6 Weeks, pref. 12 0 MM Whakatane, ord... 0 17 8 MM Wm. Cable Holds. 16 9 MM New 16 3 16 9 Wilson's Cement .. 0 12 7 0 12 10 W’worths., ord. 0 14 1 0 14 2 (N.Z., ord., ex div. MM 0 19 3 (N.Z.), pref. 12 0 —— W. R. Cooke and Son 0 7 6 MM Australian Mining— Mount Lyell 0 15 0 0 16 0 UNLISTED STOCKS Amuri Lime — 0 19 6 Andrews and Beaven, pref., c.d. .. 1 1 0 MM New, cum div. .. 113 MM . Black and White Cabs MM .079 Buntings .. 14 0 Canty. Seed MM. 1 13 6 Christchurch Press 11 0 0 Matea Forests 0 2 1 MM N.Z. Motor Bodies 1 19 9 MM Prudential Bldg. .. 10 6 Reece. Ltd.. E„ pf. 0 11 0 MM Tekau 0 15 0 Viet. Mansions 16 0 Watties Canneries ns 6