COMMERCIAL

Press, Volume LXXXIX, Issue 27165, 8 October 1953, Page 14

COMMERCIAL

STpCK EXCHANGES STRENGTH OF MARKETS MAINTAINED Most of yesterday’s fairly considerable turnover on the Christchurch Stock Exchange was in industrials and chain stores. Markets presented a solid front, and price variations generally continued to be in sellers’ favour. There was a buoyant market for Government securities. Banking issues were firm at late rates, and in the breweries section New Zealands and Dominions had slightly better buying support. Standard Insurance were traded Is 6d up at 85s, with buyers prepared to carry on at this price, and fractionally better buyers appeared for Nationals at 255. New Zealands were again quoted wide. A parcel of Dalgety’s B shares sold unchanged at 9s 6d, with further sellers at the same price and buyers at 9s 4d. All New Zealand Farmers* Co-op. issues were in demand, mostly at slightly enhanced prices. Woollens were active, three issues being traded firm on recent rates, but sellers for most issues were very reticent. Kempthorne Prosser’s N.Z. Drugs rose Is 3d to sell at £5 13s 3d, and more were wanted at £5 12s 6d—no sellers. Wilson’s Cement new issue had sales and buyers at the improved price of 14s 6d. Norvic Shoes weakened further on a wide market, with buyers at 12s 6d and sellers at 17s. Two parcels of Coles sold unchanged at 15s Bd, but the market was a shade easier a e close - Woolworths, New Zealand, sold Id down at 20s 2d, with more on offer at 20s 3d. Woolworths, Ltd,, had firm quotations at 14s 7d and 14s 9d, respectively. McKenzies weakened further to buyers’ offers at 15s 4d and selling bids of 15s 6d.

o , AUCKLAND , es 7^? te Tuesday: £750 3 per cent. eJ v^l" 60 ’ £94 15s : £7OO 3 Per cent, stock, 1939-01 £93 7s . 6d; 900 Comm. Aust., 17s 2d; 50 N.Z. Insurance. •I3 S; V 10 2 £. CI * 385 ICO BH - Pt y - *< s 3 d *, £250 3 per cent. Stock. May, 1953-56. £9B 12s 6d; £ll3O 3 per cent. Stock. 1957-60. £94 15s; 1300 3 per cent. Stock. 1959-41, £93 7s 6d; £3OOO 3 Per cent. Stock, 1962-64, £9l 15s lOd; 375 A.N.Z. Bank, 35s Ijd: 100 E., S., and A. Bani J- £o 2s «d; 50 Natl. Bank N.Z., 68s ® d; 19 Bank N.S.W.. £35 10s; 500 Auck ?°. NZ - Insurance, £5 18s; Brit ? sh « 575. 50 Standard Insur4* o^. s ’^/ nd . 251 845 700 Golds. £n- r Nr 3 Jrti, 6d ’ Wright, Stephenson, 60s; ™ rt £ ern 10s ’’ 325 Berlei, 32s ?n?y O i? u ? ieS vn pref ’ 228 200 ?^ X x< S - 10a 3d: Macky Logan, S a, l d J? ’ J 4Bs ’ and 125 rights, iL’w ur° Fo^e s t Products, pref.. 16s 9d; jy?«- l iarn C ?? 1 ®’ J 2Bs 6d ’ 300 Wilson’s Cement, new, 14s 6d. Unlisted: 600 Alex Harvey, 55s 6d; 100 Lines Bros., 21s; 314 Ma tea, 2s 3d. o , WELLINGTON _ 4 Sa J el -—Late Tuesday: £750 3 per cent. ■ EM 15s: £430 3 P er “"*• S,o, ; k . 1960-62. £93 15s; £2OOO 31 per cent Stock, 1962. £96 15s; 100 Wright, Stephenson, 60s; 200 J. J. Niven. 60s; 400 McKenzies. 15s 6d. Yesterday: £llOO 3 per cent. Stock, 1957-60, £94 15s; £l3OO 3 per cent. Stock, 1956-59. £93 7s 6d; £3OO 3 per cent. Stock, 1960-63, £93 ss; 6 ? J an^°£New South Wales, cum, £35 12s 6d; 50 Dominion Breweries. 795; 100 Tui Breweries 23s 6d; 500 N.Z. Insurance, £5 18s; 350 South British Insurance, cum 1? ,?? les) - 575; 1000 W.F.C.A., pref., 20s; 48 Wgtn. Trust Loan, £5 2s 6d; 250 Wright, Stephenson (2 sales), 60s; 200 8.H.P., 375; 200 Felt and Textiles, N.Z., pref.. 22s 6d; 200 Humes N.Z., pref., 22s 9d; 200 I.C.A. N.Z., pref.. 16s 6d; 150 J. J. Niven (2 sales), 60s; 200 N.Z. Forest Products, pref., 16s 9d; 164 Woolworths, Ltd., 14s Bd. Unlisted: 952 Phoenix Aereated Water, 225. DUNEDIN Sales.—so N.Z. Insurance, £5 18s; 50 P. and O. Stock. 695; 1000 Felt and Textiles. N.Z., ord., 29b 6d; 166 British Tobacco, 31s; 360 General Industries, 31s; 150 Lustre Hosiery, 30s 6d; 100 J. J. Niven. 60s; 20 Woolworths N.Z., 20s 2d. OVERSEAS EXCHANGES SYDNEY Share prices fluctuated fairly evenly in the basically steady market on the Sydney Stock Exchange yesterday. Sales. —Commercial Bank Australia. 20s IJd; A.C.1., 44s 6d; British Tobacco, 37s 6d; Burns, Philp, 52s 9d; Colonial Sugar, £43 ss; David Jones, 46s 6d; Coles, 18s 4Jd; Henry Jones, 455; Woolworths, 17s; Australasian Paper, 18s 4Jd; Bradford, 35s 9d; Bonds Ind., 275; Courtaulds, 21s 3d; Dunlop, 29s Ma Goldsbrough, 35s 9d; 1.C.1., 36s 3d; Broken Hill Pty., 435; North Broken Hill, 66s 6d; Mount Morgan, 22s 3d; Mount Lyell, 17s 9d; Oil Search, 5> 2d. MELBOURNE Trading was more active and price slightly steadier in the investment sec tion of the Melbourne Stock Exchange yesterday.. Sales.—A.N.Z. Bank, 41s 3d; Commercia Bank Australia, 20s; Huddart Parker, 90s 9d; Australasian Paper, 18s 4d; A.C.1.. 445; Courtaulds, 21s 4d; Drug. Houses, 30s 6d; Coles, 18s 7d; Gordon and Gotch, 20s 9d; 1.C.1., A.N.Z.. 365; Myer, 10s 3d; Broken Hill Pty., 42s 6d; Broken Hill South, 54s 9d; New Broken Hill, 27s 9d; North Broken Hill, 66s 6d; Electro. Zinc, 27s 6d; Consol. Zinc, 30s; Oil Search, ss. LONDON Banks and Debentures.—A.N.Z. Bank, sale 33s 71d; Commercial of Australia, sale 15s lid; E., S., and A. Bank, sale 96s 9d; Bank New South Wales, buyer £3l 10s, seller £32 10s; British Tobacco, buyers 28s 6d, seller 29s 6d; Goldsbrough, Mort, buyer 27s 6d, seller 28s 6d; Dalgety, sale 9s lid; National Bank N.Z., sale 64s 9d; Dalgety, 1955-70, buyer £92, seller £94; N.Z. Loan and Mercantile, 4 per cent. Debs., buyer £79, seller £Bl, ordinary, sale 23s 6d; P. and O. deferred, middle —Broken Hill South, 41s 9d; Broken Hill Pty., 32s lOJd; Consol. Zinc, 235; Mount Lyell, 13s 3d. CHRISTCHURCH QUOTATIONS

DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change Listed £ s d Var’n. Sales Reported, Listed £920 3 p.c. N.Z. Govt. Stock, May, 1953-56 98 12 6 75 Standard Insurance 4 5 0 4-1/6 200 Credit and Finance 1 2 0 400 Dalgety and Co. Ltd., “B” 0 9 6 N.C. 200 Felt and Textiles, N.Z., pref. 1 2 6 N.C. 500 Kaiapoi Wool 1 3 9 N.C. 100 Lane, Walker, Rudkin, Ltd. 2 15 6 N.C. 800 G. J. Coles, 2 sales 0 15 8 N.C. 80 K.P. and Co. 5 13 3 4-1/3 100 William Cable late sale Tuesday 1 8 6 N.C. 100 Wilsons Cement (New) 0 14 6 4-2d 200 Woolworths, N.Z., Ltd. 1 0 2 —Id 400 Woolworths, N.Z. Props., pref. 1 3 3 N.C.

Buyers £ s. d. Sellers £ s. d. N.Z. Govt.— ,21 p.c., 15/6/54-55 .. 98 15 0 —» 3 p.C., 1/8/51-54 .. 99 15 0 —— 3 p.c., 15/9/52-55 .. 98 7 6 —. 3 p.c., 15/5/53-56 .. 98 10 0 — 3 p.c.. 15/12/53-56 .. 98 10 0 — 3 p.C., 15/11/57-60 .. mm 95 0 0 3 p.C., 15/8/59-61 .. — 93 10 0 3 p.c., 15/4/60-62 .. 93 0 0 — 3 p.c., 15/4/60-63 .. 93 0 0 — 3 p.C., 15/7/61-63 .. 92 2 6 — 3 p.C., 15/6/61-64 .. 91 10 0 —— 3 p.c., 15/7/62-64 .. 91 5 0 3 p.c., 15/7/63-65 .. — 91 5 0 3 p.c., 15/5/64-66 .. 91 0 0 91 5 0 31 p.C., 15/1/53-57 .. 99 0 0 — 4 p.c., 15/6/52-55 .. 101 0 0 —— 4 p.c., 31/5/54-58 .. 101 0 0 — Banks— Comm. Bank of Aust., new 0 16 0 0 16 9 Aust, and N.Z. 1 15 0 — Comm, of Aust. .. 0 17 0 0 17 4 Pref. .. 7 2 6 vm Comm, of Sydney 18 2 6 MM E., S., and A., c.d. 5 0 0 — National of N.Z. .. 3 8 0 -M— N.S.W. — 35 12 6 Breweries— Ballins, ord. mm 13 0 Pref. 116 12 0 Dominion 3 18 9 m— New Zealand 2 15 2 2 0 Frozen MeatCanterbury. pref. .. 7 5 0 7 15 0 N.Z. Refrig. 1 17 0 — North Canty, pref. 12 3 ■M Southland 3 4 0 Gas— Auckland — 0 6 0 Christchurch 0 17 3 0 18 3 10s paid 0 6 10 Wellington, pref. .. 116 — Insurance— F.A.M.E. 15 0 mm Pref. 15 3 MV National 15 0 MM New Zealand 5 16 0 5 18 6 Standard 4 5 0 — Loan and Agency— C-F.C.A.. ord. — , 1 11 0 Cred, and Finance 116 15 0 Chch. Building 16 0 0 Dalgety, “B" 0 9 4 0 9 6 Goldsbrough, Mort 1 10 0 MM Mutual Benefit 17 0 1 10 0 Nat. Mortgage, “A” 0 8 1 0 8 5 “B” 2 0 6 MV N.Z.F. Co-op. 0 11 10 1st pref. 6 10 0 MV “A" pref. 4 12 6 MM “B” pref. 4 12 6 VM 41 p.c. Stk., ’60 — 97 17 6 41 p.c. Stk., ’55 98 0 0 MM 41 p.c. Stk., 4/7/61 96 0 0 98 0 0 N.Z. Guarantee 0 2 0 vm Permanent Invest. 11 0 0 —M United Building 0 19 3 Wright, Steph., pf. 12 6 —— Shipping— • Northern 0 10 3 P. and O. 3 8 0 Union, pref.. .. 16 6 MM Woollens— Bruce, pref. 13 0 Feltex, N.Z. 19 3 ——— Pref. 12 3 MV Kaiapoi — 14 0 Pref 13 6 Korma, ord. .. 0 12 6 MM Timaru 14 6 MM Manawatu 3 14 0 MM Qamarp ,, ,, 3 0 0 ' —V

Buyers. Sellers. £ s. d. £ s. d. Lane, Walker, Rudkin 2 15 0 2 16 6 Pref. 1 3 7 Wellington 9 0 0 — Pfef. 9 0 0 WWW Miscellaneous— Alloy Steel (N.Z.) 2 12 8 Amal. Batt. _ -.. 1 5 1 wm Aust. C.I. 1 18 0 1 18 • Aulsebrobks, pref. 1 3 3 WM Aust. Fnd. Invest. 0 4 5 WM Ayon Metal — 0 13 0 Beath ahd Co., x.d. 2 7 9 —— Beggs 2 0 0 —— Booth. Macdonald 0 3 6 0 3 6 Brit. Tobacco 1 10 6 Broken Hill Pty. 1 17 0 1 17 5 Canty. Saleyards .. 1 17 0 WM Colonial Sugar 36 10 0 37 5 0 Consolidated Brick —. 0 10 3 Dental and Medical 1 14 0 — Dom. Builders 0 11 9 WM D.I.C., pref. 1 4 6 1 5 3 Dunlop Rubber 1 4 3 WM Dunlop, N.Z., pf. 0 15 9 WM Farmers 2 1 0 2 2 0 Fletchers 1 11 0 1 11 6 **B” pref. 1 2 6 —1W G. J. Coles 0 15 •y 0 15 6 Greater Crystal .. 1 0 0 1 2 6 Hallensteins 1 10 0 WM Hay’s 3 8 6 .Ww Humes (N.Z.), pf. 1 2 6 MW J. Gadsden 1 6 9 WM Pref 1 2 9 WW J. J. Niven 2 19 6 3 0 3 K.P. Drugs 5 12 6 Maling, pref. 1 0 6 MW \ Mason, Struthers. 14s paid 1 3 0 - WM 10s paid 0 17 9 0 18 1 McCaskey, pref. .. 0 18 6 M— McKenzies 0 15 4 0 15 6 Midland Mot., pref. 1 0 0 1 1 9 Milburn Lime 1 6 0 1 6 9 M.K. Manufac. 0 13 3 Morris Hedstrom .. 2 0 6 Morts Dock 0 16 0 0 13 6 N.Z. Indust. Gases 1 0 0 1 0 N.Z. Forest Prod. 0 12 N.Z. Newspapers .. 2 7 0 Norvic Shoes 0 12 6 0 17 0 Otago Daily Times 2 6 6 Petrous Tile 1 1 6 WM Ross and Glendining 2 9 0 2 10 0 Smith and Smith 0 19 0 1 1 0 Skellerup, pref. .. —. 1 1 9 Turnbull and Jones * 1 14 9 Pref. 1 0 0 Whakatane, ord., c.d. wm 0 18«9 Pref., c.d. :. 1 2 3 1 2 3 Whit, and Tombs .. 1 3 6 Wm. Cable 1 8 6 Wilson’s Cement, new 0 14 6 0 14 'j Woolworths, ord. . 0 14 7 0 14 9 (N.Z.), ord. 1 0 0 1 0 3 (N.Z.), pref. 1 15 0 Pp., pref. 1 3 3 MM Zealandia Milling 110 0 WWW W. R. Cooke and Son 0 8 6 MW Williamson, Jeffrey 1 4 0 MW Pref. __ 1 3 0 Aust. Mining— Mount Lyell 0 15 0 0 15 3 Nth. Broken Hill, c.d. 2 15 0 WWW Austral. Amalg. .. — 0 13 6 Mining— Arahura — 0 18 0 Grey River •• 0 2 4 0 3" 0 Ngahere —- 0 4 •