COMMERCIAL

Press, Volume LXXXIX, Issue 27151, 22 September 1953, Page 12

COMMERCIAL

STOCK EXCHANGES MARKETS QUIET AND FIRM There was a quiet tone in trading on the Christchurch Stock Exchange yester- c day. Prices generally were well main- i tained. Popular New Zealand issues were I in very short supply, there being a large 1 preponderance of buyers in all sections. 1 Of the few sales recorded, Commercial 1 Bank of Australia new issue sold 6d down 1 at 16s 6d, and buyers were prepared to carry on at this price, but sellers were j Id away. Humes N.Z. preferences were j fractionally cheaper in sales at 22s 9d, 1 and there were unsatisfied buyers at this ' figure. ( Standard Insurance sold unchanged at j 83s 6d, with more wanted at this price, i but sellers held for 84s. Better buyers j appeared for New Zealand Insurance at i £6 0s 6d, but sellers remained reticent. No sellers quoted for any of the Wool- ] worth issues, although fairly strong i buyers were on hand. Fractionally better buying offers were registered for McKenzies at 15s 6d. but sellers were unchanged at 16s. Buying offers for Coles were steady at 15s 4d, but ; again no sellers appeared. ( DOMINION TRANSACTIONS CHRISTCHURCH

AUCKLAND Sales.—Late Friday: 210 Milne and Choyce, rts., 8s 3d. Yesterday: £lOOO, 3 per cent. Stock, 1/8/51-54, £99 15s; £l5OO 3 per cent., 15/9/52-55, £9B ss; £l2OO 3 per cent., Dec., 1953-56, £9B 2s 6d; 10 Bank N.S.W., £35 17s 6d; 300 Newton King, 12s 4d; 100 Mosgiel Wool, 52s 6d; 100 A.C.1., 38s Id; 216 Bycroft, 47s 6o; 200 Electro. Zinc, pref.. 21s 9d; 30G Fletchers, 30s 3d; 300 Coles, 15s 4d: 100 1.C.1., 31s; 100 Milne and Choyce, rtfe., 8s 3d, and 270, 8s 2d; 200 Forest Prods., 12s ; Id; 500 Wilsons Cement, new, 14s 4d. Unlisted: 100 Assoc. Foods, pref., 18s 6d.

WELLINGTON Sales.—-Late Friday: £2500 3 per cent. Stock, May, 1953-56, £9B 10s; 100 Broken , Hill Proprietary, 37s 6d; 200 Humes In- , dustries, pref., 22s 9d; 100 Milne . and Choyce, rts., 8s 3d; 200 N.Z. Forest Products, 12s 2d. Unlisted: 200 N.Z. Industrial Gases, 30s; 145 Ross and Glendining, ex div., 48s 9d. Yesterday: £lOOO 3 per cent. Stock, December, 1953-56, £9B 2s 6d; 100 National Insurance, 25s 3d; 300 j Newton King, 12s 4d; 200 Leyland O’Brien, • 29s 6d; 100 Milne and Choyce, rts., 3s ; 3d; 500 G. J. Coles, 15s 6d; 100 N.Z. Forest Products, pref., 17s; 200 Pukemiro Coal, cum div., 32s 6d; 200 Otago Daily Times, . 465; 500 William Cable Holdings (2 sales), 28s 3d; 400 Woolworths, N.Z. (2 sales), 20s 6d. Unlisted: 700 British Standard Port- , land Cement (2 sales), 16s 3d. DUNEDIN Sales.—Late Friday: 250 N.Z. Refrig., cont., 17s 6d; 100 Wright, Stephenson, ord, 595. Yesterday: 100 Nat. Insc., 25s 3d; 156 Wright, Stephensons, ord.. 595; 100 Mosgiel Woollen, 52s 6d; 200 Milburn Lime (2 sales), 265; 200 Otago Daily Times, 465. INVERCARGILL Sales Reported.—loo Wright, Stephenson, 595; 100 A.C.1., 38s 2d. OVERSEAS EXCHANGES SYDNEY Rises in a number of key industrial shares on the Sydney Stock Exchange yesterday failed to provide much stimulus to the market, which continued very irregular. Sales,! —Commercial Bank, Sydney, £22 Is; National Bank, 12s 6d paid, 22s 4y 2 d; Bank New South Wales, £4O 12s 6d; Tooths. 70s; Associated News., 23s 3d; Bradford, 36s 6d; British Tobacco, ex dividend, 38s; 8.H.P., 44s 3d; Burns Philp, L2s 9d; David Jones, 45s 6d; Dunlop, ex dividend, 29s 6d; Electrolytic Zinc, 26s 7%d; G. J. Coles, 18s l l ,id; Goldsbrough, 35s 9d; Woolworths, ex dividend, 17s Hid; I South Broken Hill, 575; Mount Morgan, ex dividend, 22s 7Jd; Oil Search, 5s 3d: Anthony Hordern, 20s; Australasian Paper, 19s; A.C.1., ex div., 44s 9d; Col. Sugar, £43 15s; Courtaulds, 23s 6d; Fglt and Textiles, 28s 6d. MELBOURNE Investment stocks moved narrowly on the Melbourne Stock Exchange yesterday, but the downward trend in prices was still apparent. Sales. —Commercial Bank Australia, 20s 6d; Australasian Paper, 18s 6d; British Tobacco, 38s 3d; 8.H.P., 43s 9d; Col. Sugar, £43 15s; Courtaulds, 23s 6d; Drug Houses, 30s 3d; Dunlop. 29s 3d; Electrolytic Zinc. 26s 6d:’ G. J. Coles, 18s 2d; Herald, 16s 6d; Humes, 475; Myer, 10s; New Zealand Forest, 15s, and pref., 20s sd; Wool worths, 17s 3d; Broken Hill South, 56s '9d; Mount Lyell, 17s lid; New Broken Hill, 27s 9d; Oil Search, 5s 2d.

Sates on ’Change, Listed £ s. d. Var’n. 100 Comm. Bank of Australia, new .. 0 16 6 — 6d 100 Milburn Lime .. 16 0 — Sales Reported, Listed £200 N.Z. Govt. 3 p.c. Stock, 1962-64 .. 91 5 0 — 400 Standard Insurance (late sale Friday) 4 3 6 N.C. 200 Humes N.Z., Ltd. (late sale Friday), pref. .. 12 9 —3d 100 Humes N.Z., Ltd., pref. .. 12 9 —3d Sales Reported, Unlisted 200 N.Z. Indus. Gases, ord. (late sale Friday) .. 1 10 0 N.C.

CHRISTCHURCH N.Z. Govt— QUOTATIONS Buyers. £ s. d. Sellers. £ s. d. 21 p.c., 15/8/54 .. 98 10 0 MM 21 p.c., 15/6/54-55 .. 97 5 0 MM 3 p.c.. 1/8/51-54 .. 99 10 0 — 3 p.c., 15/9/52-55 .. 98 2 6 — 3 p.C.. 15/12/53-56 .. 97 17 6 MM 3 p.c.. 15/4/56-59 .. —— 96 7 6 3 p.c.. 15/11/57-60 .. — 94 15 0 3 p.c., 15/8/59-61 .. — 96 12 6 3 p.c.. 15/4/60-63 .. 92 15 0 M— 3 p.C., 15/7/62-64 .. 91 2 6 ' MM 3 p.c., 15/7/63-65 .. — 91 5 0 3 p.c.. 15/5/64-66 .. — 91 7 6 31 p.c , 15/1/53-57 .. — 99 5 0 Banks— Aust, and N.Z. 1 15 0 MM Comm, of Aust. .. — 0 17 6 C.B.A.. new 0 16 6 0 16 7 E.S. and A. 5 0 0 MM National of N.Z. .. 3 8 6 MM N.S.W. 35 10 0 35 17 6 Breweries— Ballins, ord. 12 6 12 9 Pref. 110 12 0 New Zealand 2 2 0 — Westland .. 1 12 0 — Coal— Pukemiro, c.d. —M 1 14 0 Frozen Meat— Canterbury •. 20 2 6 MM Pref 7 5 0 MM N.Z. Refrig. 1 15 6 MM ' 10s 0 17 6 0 17 9 North Canty., pref. 12 3 MM GasAuckland 0 6 0 Christchurch 0 17 0 MM 10s paid 0 6 7 MM Wellington, pref. .. 116 F.A.M.E. 15 0 Pref. 15 0 MM National .. 15 0 15 9 New Zealand 6 0 8 MM South British, c.d. 2 17 0 MM Standard 4 3 6 4 4 0 Loan and Agency— C.F.C.A., ord. — 1 11 0 Credit and Finance 0 19 9 MM Chch. Building 16 0 0 MM Dalgety 0 9 9 MM “B” 0 9 4 0 9 6 Mutual Benefit 17 0 Nat. Mortgage “A” 0 8 0 “B” 2 0 3 N.Z.F. Co-op., x.d. Oil 8 MM "A" pref., x.d. .. 4 8 6 MM “B” pref., x.d. .. 4 8 6 MM 41 p.c. Stk., '60 .. — 98 10 0 41 p.c. Stk., ’55 .. 98 0 0 Permanent Invest. 11 0 0 Perpetual Trustees 2 3 6 MM S. Island Finance 17 6 M— United Building .. 0 19 0 0 19 6 Wright Stephenson 2 19 0 3 0 0 Pref. 12 7 MM Shipping— Huddart Parker .. 2 2 6 — Northern — 0 10 3 Union, pref. .. 16 0 —— Woollens— Bruce 1 18 3. MM Pref. 13 0 mm Feltex 14 3 15 0 N.Z., pref. 12 6 MM Kaiapoi - 13 3 MM Pref. 13 3 . | Korina, ord. .. 0 12 6 MM Pref 0 18 0 MM Manawatu 3 14 0 MM Mosgiel — 2 13 0 Lane, Walker, Rudkin 2 15 0 MM Pref. 13 0 MM Timaru 14 0 15 6 Matheson Minster. pref. 0 18 9 MM MiscellaneousAlloy Steel (N.Z) —- 2 12 6 Am al. Batt. 14 6 Andersons, 1st pf. 119 MM Aust C.I. - 1 18 0 MM Aulsebrooks. pref. 13 0 —— Avon Metal 0 13 3 Beath and Co., c.d. 2 ~8 6 Beggs Booth Macdonald .. 2 0 0 0 4 0 0 4 6 Brit. Tobacco 1 11 6 Broken Hill Pty. .. 1 17 3 .MM Clyde Engin. 116 12 0 Burns, Philp 2 5 0 Canty. Saleyards .. 1 16 0 MM Colonial Sugar Consol. Brick 36 10 0 0 10 0 0 10 3 Dental and Med. .. 1 14 0 D.I.C.. 10s paid .. Pref. 15 0 14 6 — Dunlop Rubber 14 0 MM. Dunlop. N.Z., pref 0 15 6 MM Electro. Zinc, pref 110 MM Evans Atlas 0 17 2

Buyers. £ s. d. Sellers. £. s. d. Fletcher Hlds. 1 10 3 1 10 9 "B” 12 3 ■ i ■ Gordon and Gotch — 0 19 6 G. J. Coles 0 15 4 — Greater Crystal .. 10 0 — Hallensteins — 1 10 6 Hay’s, c.d. ... - 3 10 3 Henry Jones 1 17 6 — Humes (N.Z.), pref. 12 9 —— I.C.I., A.. N.Z. 1 11 0 1 12 0 Contr. 12 6 14 6 J. Gadsden 16 0 — Pref. 12 6 —— J. J. Niven 2 19 0 . ■■ K.P. Drugs 5 11 0 — McCaskey, pref. .. 0 17 3 —- McKenzies 0 15 6 0 16 0 McLeod —— 2 9 9 Midland Mot., pref. —- 119 Milburn Lime — 16 0 M.K. Manufac. 0 12 9 — Morris Hedstrom 2 10 —— Nat. Electric 5 2 6 — N.Z. Industrial Gases, pf. 0 19 9 113 N.Z.F. Fertiliser .. 2 5 0 — Pref. 14 9 N.Z. Forest Prod. 0 12 0 0 12 3 N.Z. Newspapers .. 2 6 6 2 7 6 Norvic Shoes 0 17 0 Otago Daily Times 2 6 6 Quill Morris 12 6 13 3 Reid Rubber, pref. 0 19 3 Skellerup, pref. .. 113 — Turnbull and Jones, pref. 10 6 —— Royds Bros, and Kirk 13 0 Whakatane, ord., c.d. mm 0 19 0 Whit, and Tombs 12 9 — Wm. Cable 18 3 Wilsons Cement, new 0 14 2 mm W'worths, ord. 0 14 4 N.Z. ord. 10 0 —— N.Z., pref. 1 14 6 mm N.Z., Pp.» pf. 13 0 — W. R. Cooke & Son 0 8 6 Mm Zealandia Milling 1 10 0 MM. Australian Mining Austral Amal. — ■ 0 13 6 Mining— Grey River 0 2 3 0 3 0 UNLISTED STOCKS Ass. Mot. Pet,, pf. 1 10 0 1 15 0 A. and T. Inglis 0 8 6 m— Marathon Rubber 1 15 0 N.Z. Motor Bodies 2 0 0 ——. Prudential Bldg. .. i ■ 110 Reece, Ltd., E.. pf. 0 10 0 MM Scales *C,” pref. .. 0 5 6 MM Victoria Mansions 16 0 MM Watties Canneries 1 19 6 —M