COMMERCIAL

Press, Volume LXXXIX, Issue 27097, 21 July 1953, Page 12

COMMERCIAL

STOCK EXCHANGES WEEK OPENS ON BRIGHT NOTE A bright tone prevailed on the Christchurch Stock Exchange yesterday, when a heavy volume of diversified business was handled. Prices continued to harden and buyers in many instances remained unsatisfied. The rights to the Commercial Bank of Australia’s new issue were in keen demand, a large number of sales taking place at Is 5d and Is 4d, and the market closed firm with unsatisfied buyers at Is sd—sellers Id away. Dalgety's shares returned to the sales list in a transaction at 9s 9d, with more on offer at the same price, buyers bidding 9s Bd. Broken Hills were steady with sales and buyers at 36s 6d. In line with recent improved quotations, Hay’s, Ltd., sold at 73s—3s up—and there were further buyers at the same figure, but no more sellers appeared. KF. N.Z. Drugs rose sharply to sales at £5 12s, with further buyers at £5 10s—no sellers. Chain stores were not very active. A small parcel of Woolworths, Ltd., changed hands Id down at 14s 6d, and more were wanted at the same price, but sellers held for 14s Bd. Woolworths, N.Z., were quoted wide at 19s ld-19s sd. A sale of Coles took place at the unchanged price of 15s 9d, with more wanted at 15s Bd—sellers Id away. Buyers for McKenzies again quoted 13s 9d. but sellers were not interested—these shares are being closely held. Skellerup preferences rose to sales at 21s 9d, with more wanted at 21s 6d, sellers asking 21s lOd. Fletcher Holdings scored a sharp rise to sell at 30s, and the market closed with buyers at 29s lOd —no sellers. Two substantial parcels of Henry Berry’s shares sold unchanged at 22s 6d, but the market closed wide with further buyers at 22s 3d—sellers 9d away. A sale of Andrews and Beaven ordinaries—seldom traded on the open market —took place at 255. E. Reece, Ltd.’s, preferences sold unchanged at Ils 6d, as did Mount Lyells at 15s 6d. A small parcel of Felt and Textiles (N.Z.) was traded at the steady price of 30s, with more wanted at the same price, but sellers held for 30s 9d. The market for insurances was very buoyant, with better buying offers in most cases. Buyers for Canterbury Frozen Meats quoted higher at £l9 15s, but sellers remained reticent. DOMINION TRANSACTIONS

AUCKLAND Sales.—£2so 3 per cent. Stock, 1959-61, £93 17s 6d; £l5OO 3 per cent. Stock. 196062, £92 17s 6d; £2050 3 per cent. Stock, 1960-63, £92 7s 6d; £3OO 3 per cent. Stock. 1964-66, £9O 2s 6d; 125 A. and N.Z. Bank, 32s 6d; 400 Commercial Bank of Aust., 17s: 765 rights. l s sd, 150 at Is 6d. 913 at Is sd, and 3609 at Is 6d; 100 Auckland Gas. 5s paid, 3s; 1600 Dalgety, 9s 3d; 200 D.1.8.A., 21s; 100 Feltex, N.Z.. pref., 225; 550 Kerma, pref., 16s; 400 Fletchers, 30s: 200 Forest Products, Ils 9d; 500 Toppa Holdings, 5s 8d; 100 Woolworths, N.Z., 19s 3d; 500 Woolworths, Ltd., 14s 6Jd. WELLINGTON Sales.—Late Friday: 225 Tip Top (Auckland), 18s 9d. Yesterday: £4OO 4 per cent., 1954-58, £lOO 7s 6d; £5OO 3 per cent., December, 1953-56, £97; £250 3 per cent.. 1955-58, £96 17s 6d; 862 Commercial Bank of Aust., rights (3 sales), is sd; 200 National Insurance. 23s 6d; 500 Henry Berry, 22s 6d; 200 N.Z. Forest Products, Ils 9d: 300 Burns, Philp, 47s 3d; 100 Wilsons Malt Extract, 18s lid. DUNEDIN Sales.—Late Friday: 75 Wright, Stephenson, 58s 9d; 300 G. J. Coles, 15s 9d. Yesterday: 1564 Commercial Bank, rights (6 sales). Is 4d; 50 National Bank of N.Z., 64s 6d; 120 National Bank of A’asla., con., 17s 3d; 200 N.Z. Refrigerating, paid, 34s 3d; 50 South Otago Freezing, £7 ss; 380 N.Z. Guarantee Corporation, 2s 4d; 100 Henry Berry,. 22s 6d. Unlisted: 300 R.

and E. Tingey, ord., ex, 12s 3d; 100 Ross and Glendining, 50s. INVERCARGILL Sales.—lol7, Commercial Bank, rights (3 sales). Is 3Jd; 50 South Otago Freezing Co., £7 ss; 171 Otago Daily Times, 44s 6d. OVERSEAS EXCHANGES SYDNEY The Sydney stock market improved a shade yesterday, following the slight reaction from recent gains that characterised the end of' the week business. Sales.—Bank of New South Wales. £37 10s; Commercial Bank of Sydney, £2l 6s; Commercial Bank of Australia, rights, Is 4d; Tooths, 71s 9d; Tooheys, 30s 6d; Associated Press, 14s, and pref., 17s 6d; Amalgamated Wireless, 30s; A. Hordern, 20s 3d; A.C.1., 45s 9d; Bradford, 365; Broken Hill Proprietary, 43s 3d; Colonial Sugar, £43 17s 6d; Drug Houses, 325; Dunlop, 29s 6d; Felt and Textiles, 28s; Coles, 18s 6d; Goldsbrough, 35s 6d; 1.C.1.. 355; Woolworths, 17s 4Jd; Mount Isa, 39s 101 d; South Broken Hill, 55s 6d; Emperor, 13s lid; Mount Morgan, 23s 4Jd; Oil Search, 6s. MELBOURNE The investment section of the Melbourne Stock Exchange was quieter yesterday, but prices remained firm. Sales.—Commercial Bank of Australia, 20s 6d, rights Is 3d, and pref. £8 3s; Australasian Paper, 18s Id; A.C.1., 4fes; Bradford, 35s 6d; British Tobacco, 36s 3d, and pref., 24s 9d; Broken Hill Proprietary, 435; Drug Houses, 32s 3d; Dunlop. 2s)s 6d; Electrolytic Zinc, 265; Coles, 18s 6d; Gordon and Gotch, 235; Herald. 16s; 1.C.1., 355; Woolworths, 17s 6d; South Broken Hill, 555; Mount Lyell, 18s Id; New Broken Hill, 265: Emperor. 14s 2d; Mount Morgan, 235; Oil Search. 6s 2d.

CHRISTCHURCH £ s. d Var’n Sales on ’Change Listed 894 Comm. Bank Aust., rights (3 sales) 0 1 4 N.C. 2740 Comm. Bank Aust., rights (5 sales) 0 1 5 j-ld 500 Dalgetys .. ,. 0 9 9 159 B.H. Pty. .. 1 16 6 N.C. 200 G J. Coles 0 15 9 N.C. 50 Hay’s 3 13 0 4-3/-50 Kempthorne, Prosser 5 12 0 4-3/-100 Wcolworths, Ltd. .. 0 14 6 — Id 300 Skellerup Ind., pref. 1 1 9 4-6d Sales Reported, Listed 189 Comm. Bank, rights 0 1 4 N.C. 1887 Comm. Bank Aust., rights (3 sales) 0 1 5 4-Id 100 Felt and Textiles, N.Z., Ltd. 1 10 0 N.C. 700 Comm. Bank Aust., rights (3 sales) 0 1 5 + ld 300 Fletcher Holdings, Ltd. (2 sales) 1 10 0 4-2/6 700 Henry Berry, ord. late sale Friday .. 1 2 6 N.C. 1000 Henry Berry 1 2 6 N.C. 360 Mt. Lyell (2 sales) 0 15 6 N.C. 100 Skellerup, pref. 1 1 9 4-6d Sales Reported, Unlisted Stocks 500 Andrews and Beaven, ord. .. 1 5 0 —— 580 E. Reece, Ltd., pf., late sale Friday 0 11 6 N.C.

CHRISTCHURCH QUOTATIONS Buyers. Sellers. £ s. d. £ s. d. N.Z. Government— 2J p.c., 15/8/54 .. 98 15 0 — 3 p.c., 1/8/51-54 .. 99 17 6 — 3 p.c., 15/9/52-55 .. 98 17 6 — 3 p.c., 15/5/53-56 .. 97 10 0 — 3 p.c., 15/12/53-56 .. 97 0 0 — 3 p.c., 15/11/57-60 .. 93 10 0 — 3 p.c., 15/8/59-61 .. 93 15 0 94 5 0 3 p.c., 15/7/61-63 .. 90 0 0 — 3 p.c., 15/7/62-64 .. 90 0 0 — 3 p.c., 15/7/63-65 .. 90 0 0 — 34 p.c., 15/9/57-60 .. 95 10 0 — 3J p.c., 15/1/53-57 .. 98 0 0 — 4 p.C., 15/6/52-55 .. 100 0 0 — 4 p.c., 31/5/54-58 .. 100 5 0 — Local Bodies— S. Cant. Elec., 31 p.c., 1/2/50 93 0 0 — Banks— Comm, of Aust., rights 0 15 0 16 A. and N.Z. 1 11 9 1 13 3 Comm, of Aust. .. 0 16 10 0 17 3 Pref. 7 2 6 — E., S., and A. .. 4 16 0 5 0 0 Natl, of A’asia, £1 17 0 — National of N.Z. .. 3 3 6 — N.S.W. 32 0 0 32 2 6 Breweries— Ballins, ord. •• 12 4 13 0 Pref 10 4 — New Zealand •• 1 18 9 — Frozen Meat— Canterbury •• 19 15 0 — Pref. .. .. 6 10 0 — Gear 16 3 — N.Z. Refrig., 20s .. 1 13 9 — 10s 0 16 6 0 17 3 Nth. Canty., pf. .. 12 0 — Southland .. 3 13 — • Auckland •• 0 5 10 0 6 0 5s paid .. .. 0 2 3 — Christchurch . • 0 16 3 0 16 5 10s paid .. 0 6 0 — Wellington, pref. •• 12 0 — Insurance— F.A.M.E. .. .. 15 3 — Pref 15 0 — National .. 13 8 — New Zealand J, 5 16 6 — South British 2 13 3 — Standard 4 0 3 — Loan and Agency— C.F.C.A., ord. 18 6 — Pref. 3 1 6 3 4 0 Chch. Bldg. Society, “B” 15 10 0 16 5 0 Dalgety, “B” .. 0 8 6 0 9 0 Dalgety .. .. 0 9 8 0 9 9 Golds., Mort 18 6 — Mutual Benefit .. 16 0 — N.Z.F. Co-op. .. 0 11 11 — First pref. 6 6 0 — *'A” pref. 4 11 6 — "B” pref. 4 11 6 — 41 p.c. Stk., ’60 .. 96 15 0 — N.Z. Guar. Corpn. 0 2 2 0 2 4 Perm. Invest. 11 0 0 — Perp. Trustees 2 3 6 — S.I. Finance 15 9 17 6 United Building .. — 0 18 6 Wright, Stephenson — ' 2 18 9 Pref 13 0 — Shipping— P. and O. 15 0 — Union, pref. .. 110 — Timber— Parker Lamb sa 0 5 3 — Woollens— Bonds .. 3 12 6 — Jacquard .. — 1-2 6 Feltex, N.Z. 1 10 0 1 10 9 Pref. 116 — Kaiapoi, 17s paid .. 13 3 13 6 Pref. 13 6 — Korma Tex., pf. .. 0 15 0 — Lane, Walker, pref. 12 9 — Timaru 13 3 — Wellington 8 15 0 — Pref. 8 15 0 — Miscellaneous— Amalg. Batt. 14 6 — Andersons, 1st pf. 119 — Aulsebrooks, pref. 12 6 — Aust. C.I., c.d. 1 18 6 — Avon Metal — 0 15 0 Apex Ice 1 18 0 — Beath and Co. 2 5 3 — Begg and Co. 1 18 3 — Berlei Industries .. 19 9 — Booth, Macdonald 0 4 3 0 4 10 British Tobacco .. 1 10 0 — Broken Hill Pty. .. 1 16 6 — Colonial Sugar 37 10 0 — Consol. Brick 0 10 3 — Dom. Builders 0 11 3 — Dom. Fertiliser 1 11 3 — Donaghy’s Rope .. 1 17 9 1 18 6 D.I.C., pref. 13 6 — Dunlop, N.Z. 0 14 11 0 15 3 Pref. 0 14 10 — Fletcher Holdings 1 9 10 — Fletchers. “B” pf. 116 12 0 Hugh J. Kearns .. 0 17 6 12 6 G. J. Coles 0 15 8 0 15 9 Greater Crystal .. 0 19 0 — Hallenstein Bros. .. 19 0 — Hay’s, Ltd. 3 13 0 — Henry Berry 12 3 13 0 Humes (N.Z.), pf. 12 6 13 0 I.C.I. A. N.Z. 19 6 — J. Gadsden, c.d. .. 15 6 — J. J. Niven — 3 0 0 K.D.V. Boxes 0 10 9 — K.P. Drugs 5 10 0 — Macky Logan — 1 13 0 Maling, pref. 10 9 — Mason, Struthers £ 1 paid 1 13 0 — McCaskey, pref. .. 0 17 6 0 18 0 McKenzies 0 13 9 — McLeod 2 8 1 — Milburn Lime 14 9 — New 14 9 — M.K. Manufrs. — 0 13 0 Morts Dock — 10 0 N.Z. Forest Prods. — 0 11 11 Pref. 0 15 6 — N.Z. Newspapers .. 2 5 6 — Norvic Shoes 0 17 6 0 18 0 Otago Daily Times i « » -

Buyers. £ s. d. Sellers. £ s. d. Petrous Tile 0 19 0 Quill Morris, 1936 12 6 Reid Rubber, pref. 0 17 9 Sharland 2 4 0 Silknit 0 13 6 Skellerup, pref. .. 118 1 1 10 Weeks, pref. 12 6 Ord. 1 18 6 Whakatane, ord. .. 0 18 0 Pref. 116 Cont., pref. 0 5 0 Whit, and Tombs 116 _ Wm. Cable Hdgs. .. 17 6 Wilson’s Cement .. 0 14 3 Woolworths, ord. .. 0 14 6 0 14 8 N.Z., ord. 0 19 1 0 19 5 N.Z., pref. 1 14 0 N.Z. Pp„ pf. .. 12 6 W. R. Cooke and Son 0 7 6 — Aust. Mining— Austrhl Amalg. 0 11 0 0 13 6 Mount Lyell 0 15 6 0 15 8 MiningGrey River —— 0 2 4 UNLISTED STOCKS Amberley Lime .. Q 17 6 Amuri Lime 0 19 6 Andrews and Beaven, pref. 110 Ord. 14 6 15 9 A. and T. Inglis .. 0 8 6 Beaths, Is paid, 19s deposit .. 2 0 0 Buntings . 14 0 17 6 Canty. Seed 19 0 Ch.Ch. Press 11 0 0 Lvttelton Pictures 1 ~3 0 Matea Forests 0 2 3 Rink Invest. 14 0 Ross and Glendin. 2 9 9 Scales “C,” pref. .. 0 5 3 Tarmekau 0 10 Victoria Mansions 16 0 —— Watties Canneries 117 •