COMMERCIAL

Press, Volume LXXXIX, Issue 27148, 18 September 1953, Page 13

COMMERCIAL

STOCK EXCHANGES DECLINE IN AUSTRALIAN SHARES ARRESTED The favourable turn taken by Wall Street seemed yesterday to arrest the decline apparent on Wednesday on the Christchurch Stock Exchange in Australian industrials and chain stores. Several market leaders accordingly recovered an appreciable amount of their losses on quotation. Several parcels of Woolworths, Ltd., sold Is 2d down on an ex dividend basis at 14s 6d, this decline being in accord with recent lower quotations and sales elsewhere in the Dominion. Actually, these shares improved 3d overnight on buyers’ offers, which on Wednesday were as low as 14s 3d. At the close of the markets yesterday buyers were prepared to carry on at 14s 6d, but' further sellers held for 14s Bd. G. J. Coles improved to active trading and buyers at 15s 4d. Christchurch Gas returned to the sales* list in dealings 6d up at 17s, with further buyers at 16s lOd—no sellers. Wellington Gas preference shares also improved 9d to sales at 21s 9d, the market closing with buyers at 21s 7d—sellers 5d away. Australian Consolidated Industries gained 3d in a sale at 38s 3d, with further buyers at 38s—no sellers. Better buyers were on hand for New Zealand Refrigerating paids and contnbutings, and generally there was a firming note in most New Zealand market leaders.

DOMINION TRANSACTIONS CHRISTCHURCH

Sales.-—Late Wednesday: 200 Feltex, Aust., 255; 900 Woolworths, Ltd., 14s 6d. C £lsoo 3 per cent. stock, ss; -£lOOO 3 per cent, stock, , £29 ss; 125 Kauri Timber, 22s 6d; 30° Fe Jtex, Aust.. 255; 237 B.H. Pty., one a Jl d , 100 37s 6d i 5 colonial Sugar, £37; 225 Milne and Choyce, 47s 6d, and 172 rights, 7s lOd, and 5<5 8s; 1100 Forest Products. 12s 2d, and 1700 pref., 17s; 400 X opp ? B J?°M n « B ’ 5s J 100 William Cable, 1500 Wilsons Cement (new), 14s 4d; 100 Wool worths, Ltd. 14s 6d; 100 Emperor, i d ' 100 Ross and Glendining, 43s 9d; 200 Dominion Breweries, 78s 6d; 480 Electro. Zinc, pref., 21s 9d. WELLINGTON Sales;*—-Late Wednesday: £l5OO 3 per cent., 55-58, £96 10s; 200 8.H.P., 37s 6d; 15 Colonial Sugar, £37; 400 Woolworths. Ltd., 14s 6d. Yesterday: £1390 3 per cent., 60-63, £93 ?L^ d J,^ lOOO 3 P e r cent- 61-63, ss; 1130 N.Z. • Breweries (5 sales), 42s 6d; 350 ex - 125 3d - and 40 °* 12s 4d; 300 WJ.C.A., pref. (2 sales), 21s 3d; 300 Bing Harris .‘•A,” 17s 6d; 550 G. J. Coles (2 sales), 15s 4d; 480 Tip Top (Auckland). 19s; 200 Turnbull and Jones, 34s 3d; 400 J. Wattle Canneries, 40s; 100 J. J. Niven, 60s; 100 Pukemiro Coll., 31s 6d; 200 Skellerup, pref., ex., 20s 9d; 145 Ross and Glendining, ex., 495; 100 Wool worths, Ltd., f4s Bd. DUNEDIN Sales.— Late Wednesday: 350 N.Z. Breweries (2 sales), 42s 6d. and 250, 42s 3d; 200 Humes, Ltd., 425. Yesterday: £2OO N.Z. Government 3 per cent., 15/7/62-64, £9l ss; 300 N.Z. Breweries, 42s 6d; 100 Christchurch Gas, 17s; 200 Felt and Textiles, Aust., 255; 100 Wilson (N.Z.) Cement, 14s 6d. OVERSEAS EXCHANGES SYDNEY The steadying trend of share prices developed to such an extent on the Sydney Stock Exchange yesterday that price rises cut even with falls. Sales.—A’asian. Paper, 19s; A.C.1., 45s 3d; British Tobacco, 38s; Courtauld, 23s 6d; Drug Houses, 30s 6d; Coles, 18s 3d; General Ind.,‘37s 6d; Morts Dock, 20s 6d; Wunderlich, 465; Yarra Falls, 43s 6d; Queensland Insurance, 695; Burns, Philp, 53s 6d; Colonial Sugar, £43 12s 6d; Woolworths, 17s IJd; Broken Hill Pty., 44s 6d; North Broken Hill, 735; Oil Search, 4s Hid. MELBOURNE Heavier selling pressure in selected investment stocks forced prices down on the Melbourne Stock Exchange yesterday. Sales.—A.N.Z. Bank. 41s 6d; Commercial Bank of Australia, 20s 8d; Burns Philp, 545; A.C.1., 45s 6d; British Tobacco, 37s lid; Dunlop, 30s 3d; - Coles, 18s 4d; Gordon and Gotch, 22s 6d; Henry Jones, 46s 3d; Herald, 16s lid; 1.C.1., A., N.Z., 36s 9d, and pref., 20s 3d; Kauri. 28s 3d; Myer, 9s lOd; N.Z. Forest, 14s 10a; Woolworths, 17s 3d; Broken Hill Pty., Ms 2d: New Broken Hill, 28s; Emperor, 17s 3d; Oil Search, ss. LONDON

Minings: Broken Hill North, 56s 3d; Broken Hill Pty., 345; Mount Lyell, 13s 9d.

Sales on ’Change, Listed 700 Woolworths, Ltd., £ s. d. \T o ? d - (3 sal es) 0 14 6 — 1/3 £200 N.Z. Govt. Stock, 3 P.C., 1363-65 91 0 0 200 Christchurch Gas (2 sales) .. 0 17 0 + 6d 300 Aust. Consol. Ind, (3 sales) .. 1 18 3 4-3d 250 G. J. Coles (5 Sales) Sales Reported, 0 15 4 Listed N.C. £200 N.Z. Govt. Stock, 3 pc., 1952-55 98 2 6 100 Christchurch Gas 0 17 0 + 6d 400 Wellington Gas, Pref. 119 + 9d 200 South British Insurance, c.d. .. 100 Dental and Medi2 16 9 N.C. cal 1 15 0 N.C. 300 G. J. Coles 0 15 4 N.C. 100 Humes, Ltd., x.d. 2 0 0 Sales Reported on ’Change, Unlisted Stocks -1/6 400 Watties Canneries, Ltd. (3 sales) 2 0 0 — AUCKLAND

CHRISTCHURCH QUOTATIONS Buyers. Sellers. £ s. d. £ s. d. N.Z. Government— 21 p.C., 15/8/54 .. 98 10 0 —— 3 p.C., 15/9/52-55 .. 98 2 6 3 p.c.. 15/12/53-56 .. 97 15 0 —— 3 p.c., 15/11/57-60 .. 94 15 0 3 p.C., 15/7/61-63 .. 92 0 0 3 p.c., 15/6/61-64 .. 91 15 0 3 p.c., 15/7/62-64 .. 91 5 0 —— 3 p.c., 15/7/63-65 .. 91 0 0 —— 3 p.C., 15/5/64-66 .. 91 5 0 Ashburton E.P.B., 41 p.c., 1/8/59 .. 101 0 0 101 17 6 Banks— Aust, and N.Z. .. 1 15 0 1 15 9 Comm, of Aust., new .. .. 0 16 6 0 16 10 Comm. Of Aust. .. 0 17 4 0 17 6 Pref. .. .. 7 2 6 E., S., and A. 5 ~6 0 National of N.Z. .. 3 7 6 N.S.W 35 5 0 35 12 6 Breweries— Ballins, ord. .. 1 2 6 1 3 0 Pref. .. .. 1 1 0 1 2 0 New Zealand 2 2 9 Westland .. 1 11 6 Frozen Meat— Canterbury .. 21 5 0 —— Pref. .. .. '7 5 0 7 15 0 N.Z. Refrig. .. 1 15 9 10s .. .. 0 17 6 —— Nth. Canty., pref. .. 1 2 3 __ Southland 3 3 6 Pref. .. 3 3 6 __ Gas— Auckland. .. — 0 6 0 Christchurch .. 0 16 10 10s paid .. 0 6 9 Wellington, pref. .. 1 1 7 1 2 0 Insurance— F.A.M.E. .. 1 5 0 ___ Pref 1 5 3 National .. .. 1 5 0 — New Zealand .. 6 0 6 South British, c.d. 2 16 9 Standard .. 4 3 J3 4 3 9 Loan and Agency— C.F.CA.., ord. __ 1 11 0 Chch. Building .. 16 0 0 Dalgety “A” .. 0 9 9 —_ “B” .. .. 0 9 4 0 9 6 Golds., Mort. —■ 1 11 0 Credit and Finance 0 19 9 Mutual Benefit — 1 10 0 Nat. Mortgage “A” 0 8 0 0 8 3 "B” .. ..2 0 0 N.Z.F. Co-op., c.d. 0 12 3 — First pref., c.d. .. 6 10 0 "A” pref. c.d. .. 4 13 0 —— “B” pref., c.d. .. 4 12 6 —— 41 pc. Stk., ’60 .. — 98 10 0 Permanent Invest. 11 0 0 __ Perpetual Trustees 2 3 6 __ S. Island Finance 1 7 3 United Build., c.d. 19 0 0 —— Wright, Stephenson 1 2 6 —— Shipping— Northern 0 10 3 Union, pref. .. , 1 6 3 Woollens— Bonds, x.d. .. 3 15 0 Bruce .. 1 18 3 Pref. .. 1 3 0 Feltex .. .. 1 4 0 1 5 0 N.Z., pref. .. 1 2 6 «— Kaiapoi .. .. 1 3 6 Pref. .. .. 1 3 3 Korma, ord. .. 0 12 6 Pref. — 0 18 9 Lane. Walker, Rudkin, pref. 1 3 0 — Lane, Walker, Rudkin .... 2 15 6 2 16 0 Timaru 1 4 0 1 5 0 Matheson Minster, pref. .. 0 18 9 ** Miscellaneous— Alloy Steei (NX.) — 2 12 6 Amal. Batt. 1 4 6 Andersons, 1st pref. 1 1 9 ___ Aust. CJ. 1 18 0 Apex Ice 1 19 0 Aulsebrooks, pref. 1 3 3 —— Beath and Co. .. 2 8 0 —— Booth, Mac. 0 4 6 Broken Hill Pty. .. 1 17 0 —— Canty. Saleyards .. 1 16 0 — Colonial Sugar .. 36 10 0 37 10 0 .Consolid. Brick .. 0 10 0 Courtaulds .. 1 0 6 1 1 3 Dental and Medical 1 13 6 1 15 3 Dom. Builders .. 0 11 9 Dom. Fertiliser 1 12 0 —

Buyers. £ s d Sellers. £ s. d. D.I.C., 10s paid .. 15 0 —. Pref. 14 6 Dunlop, N.Z. 0 14 9 MM Pref. .. 0 15 7 MM Electro. Zinc, ord. 12 3 MM Pref. 116 MM. Evans Atlas — 0 17 5 Farmefs .. 2 1 6 2 5 3 Fletchers "B” pref. 12 3 —— Frozen Products .. 0 6 6 6 7 0 Farmers’ Trading, “A” pref. 14 3 MM G. J. Coles 0 15 4 0 15 6 Greater Crystal .. 10 0 MM Hallensteins 17 6 1 10 6 Hay’s 3 9 0 3 10 3 Henry Berry 12 3 MM. Pref. .. —— 1 2 9 Humes (N.Z.), pf. — 1 3 0 I.C.I., A., N.Z. .. 1 10 6 1 11 6 Humes 1 19 9 2 1 3 J. Gadsden 16 0 Pref. 12 7 — K.P. Drugs 5 11 0 MM Mating, pref. • .. 0 19 9 MM McCaskey, pref. .. 0 17 0 MM McKenzies — 0 16 0 McLeod — 2 10 0 Midland Mot, pref. — 1 1 9 M.K. Manufacturers 0 12 9 — N.Z. Indust. Gases, pref. 0 19 9 1 1 6 N.Z.F. Fert., pref. 14 6 — N.Z. Forest Prods. 0 12 1 0 12 2 N.Z. Newspapers, c.d. 2 7 0 MM Norvic Shoes — 0 17 0 Petrous Tile 114 MM Quill, Morris 12 6 1 3 5 Reid Rubber, oref. 0 19 0 MM Skellerup, pref. .. 110 1 1 6 Wilson’s Cement, new 0 14 2 0 14 g Whakatane, ord. .. — 0 19 0 Whit, and Tombs .. 12 9 Wm Cable 18 0 MM “B,” 1 p.c. 110 MM Wilson Malt 0 19 3 MM Wilson’s Cement .. 0 14 3 MM W’worths., ord. 0 14 6 0 14 8 (N.Z.), ord. 0 19 6 MM (N.Z.), pref., x.d. 1 14 0 MM Pp., pref. 12 9 MM W. R. Cooke and Son 0 8 6 MM Williamson Jeffrey 14 0 MM Pref 12 0 MM Australian MiningAustral Amalg. 0 11 6 0 13 6 Mining— Grey River 0 2 3 0 3 0 UNLISTED STOCKS Buyers. Sellers. £ s. d. £ S. d. Ass. Mot. Pet., pf. 1 10 0 MM A. and T. Inglis .. 0 8 6 Canty. Seed 17 0 Christchurch Press 11 5 0 MM Lyttelton Pictures * Mm 1 2 0 Matea Forests 0 2 3 MM National Tobacco .. 110 1 5 0 N.Z. Motor Bodies 2 10 Prudential Bldg. .. 11 0 Reece, Ltd., E., pf. 0 10 0 Ross and Glendining MM 2 10 0 Scales “C” pref. .. 0 5 6 MM Tingey, R. and E. 0 12 6 Tekau Knitwear .. mm 1 .A Victoria Mansions 1 6 0 1 19 6