COMMERCIAL

Press, Volume XC, Issue 27339, 3 May 1954, Page 7

COMMERCIAL

STOCK EXCHANGES WEEK’S TRANSACTIONS REVIEWED (By Our Commercial Editor.) Business was very buoyant on the .Christchurch Stock Exchange last week, and trading, which was heavy, was spread over all sections except shipping, timber and mining. Shares in sound New Zealand companies were h®e»ly but were in short supply. The right* to G. Jv Coles and Wright. Stephenson and Company’s new issues were extensively. traded. . The Australian markets barely held a steady course, and it became apparent, too, that a slightly weaker tone ruled in London. . . Details of transactions, with the figures for the previous week in parenthesis, are as follows:—Government stock. £15,785 (£500): municipal and company debentures. £7OO (nil); bank shales. 1013 (2783); breweries. 680 ( 338): froien meat, 750 (100): gas, 1193 (100): insuriince. 750 (500): loan and agency, 3480 ( 3354): timber, nil (300): woollens, 1100 (200); miscellaneous, 10,593 ( 5504): unlisted, 879 (nil); total, 20.438 (13,179). Government stock- remained very firm in an exceptionally busy market. Buyers predominated. , The banking section was moderately busy, and prices were inclined to show a slight easing tendency. Australia and New Zealand Bank sold 3d down at 37s 3d, and National of New Zealand had business at 80s. Commercial of Sydney were traded at £l3. and the company* rights sold at £5 15s. New South Wales sold unchanged at £32. Commercial of Australia had weaker quotations. New Zealand Breweries were fractionally stronger in sales at 445, and Dominion Breweries sold at 86s 6d. New Zealand Refrigerating shares were unchanged kt 40s 6d. and the contributing* i were fractionally weaker at 20s. South- ' land Frozen Meat had business at 84s 6d and 85s. Gear Meat, which are sparingly traded locally, sold at 26s 3d and :26s 6d. I Timaru Gas rose 6d to sell at 22* 6d, and Christchurch Gas remained steady in [transactions at 16s 9d. New Zealand Insurance were unchanged in business at £6 2s 6d. Nationals rose 3d to sell at 27s 9d. South British receded slightly when sold at 60s 6d. I The loan and cgency section was very active. Wright. Stephenson-* rights were , freely traded between 3s4M and 4s. New Zealand Farmers’ Co-Operative Association’s issues continued to have strong support. The first preferences gained Id to seUl at 14s. 3d in fairly heavy trading, and the .association's B preferences rose 3d to -Sell at 12s 3d. Goldsbrough Mort gained , Is 6d in business at 31s 6d. Among the woollens, a parcel of Fa!t« (Australia) rose 9d to sell at 25* fid. Meltex (New Zealand) preferences re- ■ tv med to the sales list at 225. i ’Well over 10.000 miscellaneous shares changed hands. Fletcher Holdings appreciJatvdto business at 37s 6d. New Zealand ■ Fol-eSt Products were freely traded from , 13s 7d to 13s lOd, and on Thursday they : negefted 14s at Auckland, the highest prico ; paid tor a very considerable time. Frosen . Products sold at Bs. Golos had business at 14a, and the oom- . pany’sv rights were freely traded at fie . and' 9K Id. Woolworths, Ltd., continued f to bb somewhat erratic in sales at 18s fid I dovitato 16s 4d. and the New Zealand company’s, shaves were steady in sales at ? 2 °Britilth Tobacco were unchanged at 27s J 3d. D.I.C. ordinaries lost 3d to sell at * 25s 3d. (McKenzies sold at 18s and 18s 2J- - Reid Rubber ordinaries rose to sales at 3 17s fid. , Ross and Glendintag gained fid c to sell itt Ms. AC J. in their first local “ business for some weeks sold at 38s. 9 Broken fffill Proprietary were traded at 34s 71d Sttld 355. Claude Neon (NX.) were unchanged at 50s. and Milbum Lime jumped sharply to business at 27s 7d. * There wits a sale of Central Otago Fruit at 19s - ' .. _ There vtas more business than usual 5 among the unlisted Mocks, sales reported 7 comprising*- Carbonic Ice at 60s. .Chrt*J" i cnureh Press af £ll fts fid. Mackintosh ” Caley padds at 30s, National Tobacco at n 14s. New, Zealand Motor Bodies at 425, ° and Sealey *’C” preference at 5s fid.