COMMERCIAL

Press, Volume XC, Issue 27277, 18 February 1954, Page 14

COMMERCIAL

STOCK EXCHANGES BUOYANT MARKET A substantial volume of diversified ; business was transacted on the Christ- ; church Stock Exchange, yesterday. Markets generally remained very buoyant, and price rises were numerous. Many market leaders were in short supply. The inquiry for Government stock persisted, and buyers had to raise their limits to do business. Sellers were relatively few. In line with recent improved quotations, local body issues, too, commanded some attention. A_N.Z. Bank ”B” shares had business and buyers at the recently improved price of 395, but holders were reticent. National Bank of New Zealand appreciated to sales at 77s 6d and 78s—twelve months ago these shares could be bought for 61s. New South Wales had firm inquiry at £3l 15s, but sellers held for an additional 7s 6d. Breweries continued to gather strength. New Zealands were very firm in business at 435, and Ballins ordinaries further improved to buying bids of 235. Frozen meats were quiet, and the gas section was short of sellers. Insurances continued their firming tendency and New Zealands advanced further to business at £6 3s 3d. Early last year this popular insurance stock sold as low as £5 4s. Stock and Station issues had sales and quotations at . firming rates, and there were not many sellers. A feature of the day was the very sharp rise of Lane, Walker, Rudkin ordinaries to business at 60s, with more wanted at 58s 6d—no sellers. Woollens generally were very solid. Kaiapoi ordinaries, quoI tatinos for which have recently been improving steadily, jumped to sales at 25s 3d. Sales were also reported from Auckland and Wellington at this improved figure. One of the few reverses of the day was sustained bv Bealhs in business and buyers at 50s. Chain Store issues were not in keen demand.

Sales.—Late ’Tuesday: 35 National Bank NZ. 775; 150 N.Z. Insurance. £6 3s. Yesterday: £330 3 per cent. Stock, 1957-60. £95 2s 6d, rnd £1415, £95 ss: £575 3£ per cent Stock. 1953-57. £9B 15s; £1350 4 per cent. Stock. 1954-58, £lOO 15s; 75 Bank N.S.W., £3l 15s; 46 Dominion Brewery, 81s 6d; 125 N.Z. Insurance, £6 3s 3d. and 1000, £6 3s 6d; 500 South British. 60s 9d; 100 North Auckland Farmers. 27s 6d. and 100 "B'.’ pref., 20s; 100 Kaiapoi 25s 3d: 42 Ampol, rights. 12s Id; 250 Bonds Industries. 21s 6d: 617 B.H. Pty.. 35s 6d: 200 Con. Brick, Ils; 1300 Fletchers "B” pref., 21s; 500 Coles, 17s sd; 100 George Court, 36s 6d; 10C General Industries, 31s 6d; 100 John Chambers, 27s 6d and 400 “B” pref., 225; 250 Metters, N Z., 10s; 30C' Forest Products. 12s lOd; 250 Whakatane- Board Mills. 17s 6d; 100 Woolworths Properties, 17s 6d; 400 Mount Lyell. 13s lid. .

Unlisted.—l9oo Hellabys. pref., right: ; 250 Huntly Brick, 26s 9d.

2s; 250 Huntly BricK, 26s ya. WELLINGTON Sales.—£soo 3 per cent. Stock. 51/54. £99 15s; £250 52/55, £99 10s; £4llO, May, 53/56. £9B 17s Fd; £l5lO, December. 53-56, two sales, £9B 15s; £3900, 55/58. £96 ss; £1415, 57-60. £95 ss; £2OO. 59-61. £94 ss; £lOOO, 60/62. £93 17s 6d; £6OO. 62/64. £92; £2OO 3J per cent. Stock, 53/57. £9B 17s 6d; 50 National Bank N.Z., 77s 6d. and 52, 78s; 500 South British Insurance. 60s 9d', 100 Dalgety’s "B,” Ils; 100 Kaiapoi Wool, 25s 3d; 300 Korina Textiles, pref., *18s; 200 Lane, Walker. Rudkin. 60s; 597 Ampol, rights, four sales, ex. 12s; 350 B.H.P. (two sales), 35s 6d; 175 D.1.C., 2as; 100 G. J. Coles. 17s 2d; 50 J. J. Niven. 62s 6d; 200 N.Z. Forest Products, 12s lOd; 100 Turnbull and Jones. 345; 650 Woolworths. N.Z. (two sales). 19s Id; 100 Wright. Stephenson, 62s 6d; 200 Arahura Gold, 15s 6d Unlisted.—soo Cory-Wright and Salmon (three sales), 21s 6d; 150 J. Wattie Canneries. 495. DUNEDIN

Sales.—Lrte Tuesday: 200 Arthur Ellis, pref., 225; 200 D.1.C., pref., 245. Yesterday: £5OO N.Z. Govt., 4 per cent... 31/5/54-58, £lOO 15s; 10 Bank £3l 15s; 500 Forest Products, ord. (two sales). 12s lOd; 200 Woolworths, N.Z., 19s Id. OVERSEAS EXCHANGES s SYDNEY Industrial leaders remained steady on the Sydney Stock Exchange yesterday. Sales.—Commercial Bank Australia, 20s 6d; Bank New South Wales, ex div., £37 10s: Tooheys, 28s 6d; Tooth, 80s 6d; Australasian Paper. 19s 9d; British Tobacco, 33s 3d; 8.H.P., 435; Courtaulds, 21s; Drug Houses, 30s 6d; Dunlop. 32s 6d; Morts Dock. 20s; Taubmans, 17s; Woolworths 19s 4Jd: Ampol Petroleum, ex rights, 31s 9d; and. rights, 14s 10Jd; Mount Isa, 41s 6d; Oil Search, ex rights, 24s 3d, and, rights, 17s lOJd; Ampol Exploration, £5.

MELBOURNE Industrial stocks displayed a firm undertone at Melbourne yesterday. Prices fluctuated narrowly on moderately active trading. Sales.—Commercial Bank Australia, 20s 3d; Goldsbrough, 36s 8d; Amalgamated Wireless, 30s; Ampol Petroleum, 31s 9d, and, rights, 15s 2d; Australasian Paper, 19s lOd; A.C.1., 45s 3d; British Tobacco, 33s 6d: Colonial Sugar, £43; Courtaulds, 20s lid; Dunlop, 32s 9d; Electro. Zinc, 29s 9d; Felt and Textiles, 31s 3d; Coles, 21s: Gordon and Gotch, 21s 9d; Herald, 16s 3d, and, rights. 5s Id; Humes, 535; 1.C.1., 34s 9d; Myer, 10s lid; New Zealand Forest, 15s 6d; Woolworths, 19s 8d; Mount Isa. 41s 6d; New Broken Hill, 28s 9d; Emperor. 17s -3d; Oil Search, 24s 6d, and, rights, 19s; Ampol Exploration, £5.

DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change: Listed £200 N.Z. Govt. 3 p.c. Stock, 1952-55 . .. 99 12 6 200 N.Z. Farmers’ Co200 op. "A” pref. A.N.Z. Bank “B” 0 1 12 19 0 0 4-4d N.C. 100 Korma Textiles, pref. 0 18 4 +4d 50 Wright, Stephen. 3 2 6 +3d 400 G. J. Coles 0 17 2 — Id 200 Humes, N.Z., pf., 2 sales 1 2 9 N.C. 100 N.Z. Forest Prod. 0 12 9 -Id Sales Reported: Listed £1200 N.Z. Govt. 3 p.c.* Stock. Dec., 195356, 2 sales 98 5 0 £410 N.Z. Govt. 31 p.C. Stock, 1957-60 97 0 0 £200 North Canterbury E.P.B. 4 p.C., 3/6/1963 99 10 0 £300 Otago Hospital 4 p.c., 31/7/1963 99 0 0 — 50 Natl. Bank of N.Z. 3 17 6 4-6d 89 Natl. Bank of N.Z. 3 18 0 +1/150 N.Z. Breweries .. 2 3 0 N.C. 125 N.Z. Insurance, 2 sales 6 3 3 4-3d 100 Wright, Stephenson .. • • 3 2 6 4~3d 200 Kaiapoi, ord. 1 5 3 4-1/-200 Lane, Walker, Rudkin, Ltd. 3 0 0 4-4/-41 Bea ths, Ltd. 2 10 0 —2/6 600 Mating, pref., 2 N.C. sales .. j • 1 1 6 pref. .. • 0.1 ■7 41 4-1 Jd Sales Reported, Unlisted 500 Cory-Wright and Salmon, pref. 1 6 N.C. AUCKLANI >

CHRISTCHURCH QUOTATIONS Buyer Sellers. £ s. d £ s. d. N.Z. Govt.— 2J p.c., 15/6/54-55 .. 97 15 0 3 p.c., 15/9/52-55 .. 99 12 6 3 p.c., 15/5/53-56 . . 98 10 0 — 3 p.c., 15/12/53-56 .. 98 5 0 3 p.c., 15/2/55-58 .. 96 5 0 — 3 p.c., 15/4/56-59 .. 96 5 0 — 3 p.c., 15/11/57-60 .. 95 0 0 — 3 p.c., 15/4/60-63 .. 93 5 0 93 10 0 3 p.c., 15/6/61-64 .. 91 10 0 — 3 p.c., 15/7/62-64 .. — 92 2 6 3 p.c., 15/7/63-65 .. 91 10 0 —— 3 p.c., 15/5/64-66 .. 91 7 6 92 0 0 31 p.c., 15/1/56-59 .. 96 0 0 — 31 p.c., 15/9/57-60 — 97 2 6 31 p.c., 15/1/53-57 98 15 0 99 0 0 31 p.c., 1962 99 0 0 99 2 6 4 p.c., 15/6/52-55 .. — 101 O' 0 Ch.Ch. Drainage, 4 p.c., 22/10/65 99 0 0 100 0 0 Nth. Canty. E.P. Bd., 4 p.c., 3/6/63 98 0 0 99 15 0 Banks— Adelaide 1 10 0 — Aust, and N.Z. 1 17 3 — A. & N.Z., “B” .. 1 19 0 — Comm, of Aust. .. 0 16 8 0 16 0 Pref. 6 5 0 — National of N.Z. .. 3 17 6 — N.S.W. 31 15 0 32 2 6 Breweries— Ballins, ord. 1 3 0 1 3 9 Pref. 1 1 7 — Tui — ■ 10 0 New Zealand 2 2 9 2 3 3 Tooheys 1 3 0 — Frozen MeatCanterbury 20 10 0 21 10 0 Pref. — 6 17 6 N.Z. Refrig. 1 17 9 — 10s —- 0 18 6 Nth. Canty., pref. 1 1 6 — Gas— Christchurch 0 16 4 — 10s paid 0 6 0 0 6 9 Timaru .. 1 1 0 — Insurance— F.A.M.E. J 5 9 — National 1 6 6 —— South British — 3 1 0 Standard 4 6 6 — Loan and Agency— Dalgety 0 10 9 0 11 3 “B” 0 10 9 0 11 0 Nat. Mortgage “A” 0 8 6 — “B” 2 2 9 ■ ■ N.Z.F. Co-op. — 0 12 6 1st pref. 0 14 0 0 14 6 “A” pref. — 0 12 6 41 p.c. Stk., ’60 .. 95 5 0 — 41 p.c. Stk., ’55 .. 97 0 0 — N.Z. Guarantee 0 2 3 0 2 6 Perm. Invest. 11 7 6 — Wright, Stephenson 3 2 3 3 2 6 Pref. 1 2 6 — Shipping— Union, pref. .. ■— 1 5 6 Woollens — Feltex .. 1 6 0 1 6 6 N.Z. 1 13 0 1 14 6 Kaiapoi ] 4 6 — Pref. 4 3 — Korma, ord. C 14 4 Pref. 0 18 0 Oamaru 5 3 — Lane, Walker, Rudkin 2 18 6 — Timaru — 1 7 9

Buyers. £ s. d. Sellers. £ s. a. Miscellaneous— Alloy Steel (N.Z.) 2 11 9 Amal. Batteries 16 6 — Ampol 1 5 10 — Andersons, 1st pref. 119 — Aulsebrooks, pf. .. 13 3 —— Ampol, rights 0 11 10 — Aust. C.I. 1 16 0 1 1? 3 A. G. Healing — 0 14 0 Avon Metal — 0 12 6 Beath and Co. 2 10 0 2 12 0 Is paid .. 1 0 0 Booth, Macdonald 0 4 0 — British Tobacco .. 17 0 1 7 9 Broken Hill Pty. .. 1 15 4 Claude Neon, N.Z. 2 10 —— Colonial Sugar —— 36 2 6 Dom. Fertiliser 1 15 0 — Donaghy’s Rope .. 2 0 3 D.I.C., 10s paid . . 14 0 1 5 9 Pref. 13 6 Dunlop, N.Z. 0 16 2 — Pref. 0 15 9 Electro. Zinc, pf. 13 6 —— Farmers 1 19 0 — Fletchers .. 1 14 0 — G. J. Coles \ .. 0 17 1 0 17 3 Hallensteins, c.d. .. 1 11 0 — Henry Berry —• 1 3 0 Humes 2 16 — Hay’s — 3 12 6 Humes (N.Z.), pref. 12 6 — J. Gadsden — 1 8 6 Pref. 12 6 1 2 9 J. J. Niven 3 0 0 — K.D.V. Boxes 0 10 7 0 11 0 K.P. Drugs 5 10 0 Macky Logan 1 13 0 — Maling, pref. .. 116 — McKenzies 0 16 6 0 17 0 Metters (N.Z.) 0 10 0 — Milburn Lime — 1 7 0 » Morris Hedstrom .. 1 19 0 2 1 0 Morts Dock 0 16 7 0 17 3 Nat. Electric 5 10 0 — N.Z. Forest Prod. 0 12 9 0 13 0 Pref. .. x. 0 17 4 0 17 9 N.Z. Newspapers .. 2 12 3 2 15 0 N.Z. Paper Mills 1 12 9 Norvic Shoes 0 15 9 Otago Daily Times 2 3 6 —— Reid Rubber 0 14 6 — Pref. 0 18 0 — Truth, N.Z., pref. 12 0 1 6 0 Skellerup, pref. 10 6 — Ross and Glend. .. 2'11 6 — Weeks — 1 16 0 Whakatane, pref.. contr. — 0 10 0 Whit, and Tombs __ 1 5 2 Wm. Cable 18 9 — Wilson’s Cement .. 0 14 6 — Woolworths,, ord. .. 0 16 3 0 16 6 2nd pref. — 1 2 9 (N.Z.), ord. — 0 19 3 (N.Z.), pref. 1 15 0 — Pp., pref. 12 9 — W. R. Carncnter .. 0 9 0 — Aust. Mining— Mount Lyell 0 13 9 0 14 0 Mount Morgan, c.d. — 1 0 9 Mining— Grey River 0 2 6 — Kanieri 0 15 0 UNLISTED STOCKS Andrews and Beaven, pref. — 1 1 6 Ass. Mot. Pet., pf. — 1 12 6 A P A 12 9 __ , Beaths, Is pd., 19s deposit —- 1 18 0 Chch. Press 12 0 0 Cory-Wright and Salmon, ord. 1 7 3 1 8 0 Mackintosh, Caley, Phoenix — 1 13 0 Matea Forests 0 2 0 0 2 b