COMMERCIAL

Press, Volume LXXXIX, Issue 27147, 17 September 1953, Page 13

COMMERCIAL

STOCK EXCHANGES AUSTRALIAN ISSUES DECLINE Relatively light trading r took place on the Christchurch Stock Exchange yesterday. Over all, there was no material alteration in prices of New Zealand shares, although Australian-domiciled issues lost considerably. More buyers appeared for Government stocks, and sellers were outnumbered. Coles lost further around in business at 15s 4d. and at the close of the day buyers offered 15s 3d—sellers 2d away. McKenzies sold unchanged at 15s 4d, with buyers prepared to carry on at this price, but no further sellers appeared. No other chain store Issues • were traded. Woolworths. Ltd., fell noticeably on buyers* ex' dividend * quotations. to : 14s 3d—a loss of lOd overnight—after sellers had lowered their price by lid to 14s 6d. Wdolworths New Zealand, were wanted at 20s, but sellers were reticent, and sales were effected in the north at 20s 6d. In line with lower quotations for a number of Australian stocks. Broken Hill Proprietary slipped Is in business at 31s 3d. and closing quotations were buyers 375, and sellers 37s Bd. The sudden weakening in Australian share prices may be due to two factors: (1) the marked decline on Wall Street; and (2) tne abolition of the quarterly basic wage adjustment,. regardless of fluctuations in the cost of living. Responding to the announcement of an increased dividend, -South British Insurance sold Is 9d up at 56s 9d, with further buyers at 56s 6d, and sellers at 57s 3d.

AUCKLAND Sales.—Lafe Tuesday: 53 Wright, Stephenson, 58s 6d; 100 Feltex (Aust.), 255; 400 Sharland, 50s. Yesterday: £lOOO 32 per cent. Stock, 1962, £9B 13s 9d; £4OO Auckland Transport Board, 8/9/62, 4 per cent., £9B 10s; 100 A, and N.Z. Bank, 35s 6d; 30 Bank N.S.W., £35 10s; 100 Pukemiro Coal, 31s 6d; 100 Henry Jones Co-op., 38s 3d; 150 Humes, Ltd., 425; 500 K.D.V. Boxes, Ils; 200 Reid Rubber, 13s 9d; 500 Wilson’s Cement, 14s 6d, and 800 new 14s 4d. Unlisted: 60 Alex. Harvey, 55s 6d; 200 North Shore Transport, 16s.

WELLINGTON Sales.—Late- Tuesday: 100 N.Z. Brewery, 42s 6d; 100 Pukemiro Coal, 31s 6d; 400 Sharlands, 50s. Yesterday: £750 3 per cent., 1963-65, £9l; £lOOO 3 per cent., 195961, £93 7s 6d; £5OO 3 per cent., 1963-65, £9l 2s 6d; 300 N.Z..Forest Products, 12s 2d; 71 Bank N.S.W., cum, £35 10s, and 7 £35 10s; 250 J. J. Niven (two sales), 59s 6d; 550 N.Z. Brewery (three sales), 42s 6d; 300 Wilson’s Cement, 14s 6d; 400 Woolwotths, Ltd. (two sales), ex, 14s 6d. After call: £520 4 per cent., 1952-55, £lOO 15s; 200 G. J. Coles, 15s 4d. Unlisted: 600 R. and E. Tingey, 12s 9d.

DUNEDIN Sales.—Late Tuesday: 20 Bank N.S.W., £35 15s; 100 N.Z. Breweries, 42s 6d; 300 J. Gadsden (N.Z.), pref., 235. Yesterday: 100 South Frozen Meat, ord., 645; 250 J. Gadsden (N.Z.), pref., 235; 200 J. J! Niven, 59s 6d. Unlisted: 100 Ross and Glendining, 495. OVERSEAS EXCHANGES SYDNEY Price falls continued over a wide range of shares in a quieter market on the Sydney Stock Exchange yesterday. Sales.—Associated News. 20s; Bradford, 36s 7Jd; British Tobacco, 38s; Burns Philp, 53s 6d; Colonial Sugar, £43 10s; Courtaulds, 23s 9d; David Jones, 45s 6d; Dunlop, 30s 6d; Feltex, 28s 6d; N.Z. Forest, 14s 6d; Woolworths, 17s 3d; United Insurance, £l6 ss; General Industries, 37s 6d; Drug Houses, 30s 9d; Coles, 18s 3d; Broken ' Hill Pty., 445; New Broken Hill, 28s; North Broken Hill, 73s 6d; South Broken Hill, 575; M). Morgan, 21s lOld; Placer, £l7 ss; Oil Search, 4s lid. • * MELBOURNE Increased selling pressure forced investment stocks lower on the Melbourne Stock Exchange yesterday. Sales.—Commercial Bank of Australia, 20s 9d; Goldsbrough, new, 34s 9d; Ampol, 98 lid; Australasian Paper, 19s; A.C.1., 465; Bradford, 375; British Tobacco, 38s 3d; Drug Houses, 30s 6d; Feltex, 29s id; Coles, 18s 3d; Henry Jones, 46s 6d; Herald, 16s lid; Humes, 49s 9d; 1.C.1., A.N.Z., 36s lOd; Myer, 9s lOd; Electro Zinc, pref., 26s 6d; Broken Hill Pty., 43s lOd; Broken Hill South, 575; North Broken Hill. 74s 6d; Mt. Morgsuji, 225; Oil Search, 4s lid.

DOMINION TRANSACTIONS 1 CHRISTCHURCH Sales on ’Change, Listed £ s. d. Var’n 200 G. J. Coles 0 15 4 —2d J Sales Reported, Listed £700 3 p.c. 1962-64 N.Z. Govt. Stock .. 91 5 0 — r 10 Bank of N.S.W. .. 35 10 0 N.C. 125 South British In- * surance, c.d. .. 2 16 9 4-1/9 500 Dalgety and Co. “B” .. 0 .9 6 N.C. 250 Aulsebrooks pf. .. 13 6 — 500 Broken Hill Proprietary Co., Ltd. 1 17 3 — 1/212 McKenzies (late sale Tuesday) .. 0 15 4 N.C. 100 Matheson Minster, pref. (late sale Tuesday) .. 0 18 9 N.C.

CHRISTCHURCH QUOTATIONS Buyers. Sellers. N.Z. Government—21 p.c.. 15/8/54 .. 98 10 0 __ 3 p.c., 1/8/51-54 .. 99 10 0 - 3 p.c., 15/9/52-55 .. 98 0 0 98 5 0 3 p.c.. 15/12/53-56 .. 97 15 0 3 p.c., 15/4/56-59 .. 96 10 0 3 p.c.. 15/11/57-60 .. mm 94 17 6 3 p.c., 15/7/61-63 .. 92 0 0 3 p.c., 15/6/61-64 .. 91 15 0 MM 3 p.c., 15/7/62-64 .. 91 5 0 MM 3 p.c., 15/5/64-66 .. 91 10 0 Ashburton E.P.B., „ 41 p.c., 1/8/59 .. __ 101 10 0 Banks— Comm, of Aust. .. 0 17 0 Aust, and N.Z. .. 1 15 0 Comm, of Aust. .. 0 17 3 0 17 9 Pref. .. ..7 2 A E.S. and A. ..5 0 0 5 6 0 National of N.Z. •• 3 8 0 N.S.W 35 5 0 35 10 0 Breweries— Ballins, ord. 1 2 9 Pref 1 2 0 New Zealand .. 2 2 3 2 2 Westland .. 1 11 Frozen MeatCanterbury „ 20 5 0 21 5 0 „£ref 7 5 0 7 15 0 N.Z. Refrig. 1 15 6 _ 10s .. ..0 17 A Nth. Canty., pref. .. 1 2 3 - Southland .. 3 3 - „ Pref. .. 3 3 6 MM ■Gas— Auckland .. 0 8 0 Christchurch •• 0 16 7 0 17 0 Wellington, pref. .. 1 1 8 Insurance— F.A.M.E. .. 1 S 0 - Pref. .. .. 1 5 3 New Zealand .. 5 19 6 M. South British, c.d. 2 16 6 2 17 3 Standard 4 3 9 Loan and Agency— Chch. Building .. 16 0 0 Dalgety * .. 0 9 9 “B” .. .. 0 9 A 0 9 A Goldsbrough, Mort 1 9 6 1 10 6 Mutual Benefit 1 7 3 Nat. Mortgage "A” 0 ~8 3 ‘•B’’ .. .. 2 0 3 N.Z.F. Co-op., c.d. 0 12 3 MM First pref., c.d. .. 6 7 6 MM “A” pref., c.d. .. 4 12 6 MM “B” pref., c.d. .. 4 12 6 MM 41 p.c., 12/5/60 .. 98 10 0 4 p.c. Stk., ’55 .. 98 ~0 0 N.Z. Guar’tee .. 0 2 4 MM Permanent Invest. 11 0 0 MM Perpetual Trustees 2 3 6 S. Island Finance 1 3 MM United Bldg., c.d. 0 19 0 0 19 9 Wright, Stephenson _. 3 0 0 Pref. .. 1 2 6 ShippingNorthern ' MM 0 10 3 Union, pref. •• 1 6 0 1 6 6 Woollens— Bonds, x.d. .. 3 14 0 ' MM Bruce .. 1 18 3 —— Prfef. .. 1 3 0 Feltex 1 5 3 N.Z., pref. . . .. 1 ~2 6 MM Kaiapoi .. 1 3 4 MM Pref 1 3 0 Korina, ord. .. 0 12 6 Mapawatu .. 3 14 0 MM Lane, Walker, Rud-, kin, Ltd. .. 2 14 9 Matheson Minster, pref. .. .. 0 18 9 MM iimaru .. i a 0 1 5 0 Miscellaneous— Alloy Steel (N.Z.) m— 2 12 8 Amai. Batt. .. 1 6 Andersons, 1st pref. 1 1 9 Apex Ice 1 19 0 MM Aulsebrooks, pref. 1 3 3 MM Avon Metal — 0 13 3 Beggs .. 1 19 9 Broken Hill Pty. .. 1 17 0 1 W. 8 Canty. Saleyards .. 1 16 0 Colonial Sugar .. 36 10 0 37 ~0 0 Consolidated Brick 0 9 10 MM Courtaulds mm 1 1 D.I.C., 10s paid .. 1 5 0 Pref. .. .. 1 6 MM Dunlop, N.Z. .. 0 14 9 MM Pref. .. 0 15 6 Frozen Products .. 0 6 6 MM G. J. Coles ‘ .. 0 15 3 0 15 5 Greater Crystal .. 1 0 0 MM Hallensteins .. *— 1 10 6 Humes, c.d. .. 2 1 0 2 2 0 Hay’s, c.d. •• MM 3 10 6 I.CJ.. A., N.Z. .. 1 10 6 1 11 6 J. Gadsden .. 1 6 0 Pref 1 2 6 MM J. J. Niven •• 2 18 6 KJP. Drugs .. 5 10 0 5 13 0 MeCaskey, pref. .. 0 17 0 MM McKenzies .. 0 15 4 ■MM McLeod MM 2 9 9 Midland Mot., pref. 1 0 0 MM Milbum Lime MM 1 6 3 M.K. Manufacturers 0 12 9 MM N.Z.F. Fert., pref. 1 4 6 MM N.Z. Forest Prod. 0 12 1 0 12 3 Hi N»wsp«p«i» a 1 a —

- Buyers. Sellers. £ s. d. £ s. I Norvic Shoes 0 17 0 Otago Daily Times WW. 2 6 6 Quill Morris 1 2 0 Reid Rubber, pref. 0 19 0 WM Skellerup, pref. .. 1 1 0 116 Whakatane, ord.. c.d. —— 0 19 0 Whit, and Tombs .. 1 2 9 13 6 William Cable 1 7 9 “B” 1 1 0 MW. Wilsons Cement .. 0 14 0 0 14 3 W’worths, ord. 0 14 3 0 14 6 N.Z.. ord. 1 0 0 N.Z., pref. . 1 14 K Pp., pref. 1 2 9 —— W. R. Cooke and Son 0 8 6 — Williamson Jeffrey 1 4 0 Pref 1 2 0 Australian Mining— Mount Lyell <y 14 9 0 15 9 Mount Morgan 0 18 0 Mining— Grey River 0 2 3 0 3 0 UNLISTED STOCKS Andrews and Beaven, pref. 1 10 6 MM Ass. Mot. Pet., pf. 1 10 6 MM A. and T. Inglis .. 0 8 6 MW Ch.Ch. Press 11 0 0 MM Lyttelton Pictures 1 a 0 Matea Forests 0 2 2 N.?. Motor Bodies 2 1 U WWW Prudential Bldg. .. 110 Tingey, R. and E. 0 12 4 Tekau Knitwear .. M— 14 0 Victoria Mansions <1 6 -0 Watties Canneries 1 19 6 New M .. 1 » •