COMMERCIAL

Press, Volume XC, Issue 27367, 4 June 1954, Page 14

COMMERCIAL

STOCK EXCHANGES ACTIVE TRADING ON BRIGHT MARKETS A rising trend persisted in active trading on the Christchurch Stock Exchange yesterday, and price rises exceeded falls by 10 to one. Ail sections appeared to -be buoyant and well-supported by strong buying inquiry. The banking section had the largest proporton of sellers to buyers, and even here they were in the ratio of two to three. Now that the new loan is under way Government securities appear to have recaptured their popularity. Yesterday, for instance, there was a heavy proportion of buyers, and the market maintained a firm undertone. Although no business was written in banks, A.N.Z. issues, as well as National of New Zealand and New South Wales, all had improved buying inquiry. With the return of buoyancy to brewery shares, both New Zealands and Ballins had sales and quotations at higher prices, and sellers were scarce. Frozen meats were bare of sellers and three issues had dearer buyers—New Zealand Refrigerating paias and contributings at 43s 9d and 21s 6d, respectively, and Gears at 26s lOd. South British Insurance had business and sellers at the steady price of 64s 6d, with more wanted at 63s 6d. A firming tendency was noticeable in gas shares, Christchurch contributings being wanted at 6s 9d and Timarus at 23s 9d, but there were no sellers. Loans were fairly active and the shortage of script was very pronounced. Goldsbrough, Morts rose to business at 345, and at the close there were sellers at 34s 6d and buyers at 33s 9d. In line with recent improved quotations, National Mortgage B had sales and buyers at 48s. Dalgety A shares sold slightly cheaper at Ils 4d, with buyers prepared to carry on at Ils 3d—sellers 3d away. The rising trend of Feltex (Australia) on Melbourne and Sydney markets was reflected in fractionally improved buying offers at 27s 3d. Timaru wool rose sharply to business at 29s 6d, and further buyers at 29s sd. Among the miscellaneous stocks, New Zealand Forest Products ordinaries were traded at the new high peak of 15s 4d. and the market closed wide at 15s 3d and 15s Bd, respectively. Buyers for National Electric raised their bids to £6 ss, but sellers remained reticent. Coles were firm in, business at 15s Id, and at the close sellers held for 15s 2d, with buyers offering 15s. Woolworths, New Zealand, continued to advance, with business and buyers at 22s 9d. The Sydney company was steady in trading at 18s, with more wanted at 17s lid—sellers 3d away. McKenzies were wanted at 17s 6d on an ex-dividend basis.

DOMINION TRANSACTIONS CHRISTCHURCH

AUCKLAND Sales.—Lgte Wednesday: 300 N.Z. Breweries, 46s 6d; 200 Auckland Gas, 10s paid, ss; 10 Colonial Sugar, £35 10s; 150 Farmers’ Trading, 43s 6d; 100 Union Oil, 28s; 300 Wm.- Cable, 29s 6d. Yesterday: 200 Commercial Bank of Aus., 16s 9d, and 100, new, 16s 6d; 200 E., S.» and A. Bank, £5 13s 6d; 150 Dominion Breweries, 89s Sd; 500 Carlton Breweries, 26s 7d; 100 Auckland Gas, 10s paid, ss; 200 Newton King, 16s 3d; 680 United Building, 22s 3d; 200 Devonport Ferry, 23s 3d; 100 Korma, 17s 3d; 300 Amnol, 26s 6d; 200 Booth, Macdonald, 6s: 100 Dunlop, N.Z., 20s 6d; 250 Farmers’ Trading, 43s 6d, 185 “A” pref., 24s 9d, and 600 “C” pref., new, 21s 6d; 177 Fletchers, 40s 9d, and 1075 at 41s; 1220 Coles, rights, 10s 4d; 77 K.P. N.Z. Drug. £5 17s; 250 Milne and Choyce, 545; 90 Farmers’ Fertiliser, 37s 3d; 1300 Forest Products, 15s 3d; 150 Northern Roller, 41s; 60 Ross and Glendining, 55s 3d, and 140 at 55s 6d; 400 Toppa, 5s 71d; 217 Woolworths, N.Z., pref., 37s 6d; 150 Woolworths, N.Z., Props., pref., 235. Unlisted: 108 North Shore Transport, 16s 3d. WELLINGTON ' Sales.—£s3o 3 per cent., December, 1953-56 (2 sales), £9B 15s; £5OO 3 per cent., 1955-58, £97 15s; 20 Bank of New South Wales, £33; 62 Bank of Adelaide, rights, 7s; 375 Commercial Bank of Australia, new, 16s 4d; 200 N.Z. Breweries, cum div. (3 sales), 46s 6d; 350 South British Insurance (3 sales), 64s 6d; 200 Newton King, 16s 3d; 10 Colonial Sugar, ex div., £35 10s; 181 Dunlop, Australia, 21s 6d; 541 Dental and Medical, 31s sd; 100 Fletcher Holdings, cum div., 40s 9d; 100 Felt and Textiles, Australia, 27s 6d, and 100 at 28s; 1820 G. J. Coles, rights (5 sales), 10s 4d: 200 Griffins, 5s paid, 26s lOd; 77 K.P. N.Z. Drug, £5 17s; 100 Milne and Choyce, 545; 90 N.Z. Farmers’ Fertiliser (odd), 375; 3000 N.Z. Forest Products (12 sales), 15s 3d, and 100 pref., 18s 9d; 100 Wilson’s Cement, cum div., 15s 7d. DUNEDIN Sales.—loB N.Z. Refrigerating, contr., 21s 6d; 76 Felt and Textile, N.Z., ord., 355; 69 Coulls, Somerville, and Wilkie, new, ord., 325; 132 D.1.C., pref., 23s 9d; 50 Donaghy’s Rope, 445. Sales Reported.—loo Commercial Bank, 16s 7d; 154 Ballins Breweries (late) (2 sales), 25s 4d; 200 N.Zi Breweries (late), 46s 9d, and 200 at 46s 6d; 50 National Mortgage “B,” 48s; 300 Ampol Petroleum (late), 26s 6d: 132 Broken Hill Proprietary, 36s 3d; 1000 G. J. Coles, rights (late), 10s 3d; 60 Ross and Glendining, 55s 3d; 585 G. J. Coles, rights (2 sales), 10s 4d; 100 N.Z. Forest Products, pref., 18s 9d. INVERCARGILL Sales Reported.—2B2 Forest Products, pref., 18s 9d; £2OO Govt. Stock, 3 per cent., 1953-56, £9B 15s; 200 Dunlop (Aus.), 265; £3250 Govt. Stock. 1961-63, £93 ss; £4OO, 1959-61, £94 15s; 181 Dunlop (Aus.), 265; 100 Felt and Textiles (Aus.), 27s 6d, and 100 at 28s. OVERSEAS EXCHANGES SYDNEY The continued steadiness of market leaders on the Sydney Stock Exchange yesterday toned down the rising trend of the rest of the market. Several stocks, however, made* sharp gains. Sales.—Commercial Bank, Sydney, ex rights, £2O 7s; Commonwealth Bank Australia, 20s 3d; Bank New South Wales, £3B 17s 6d; Tooheys, 26s 9d; Tooth, 79s 3d; Bradford, 34s British Tobacco, 32s 6d; Courtaulds, 21s 4 s ,iB; Felt and Tellies, 32s 3d; Coles, ex rights, 18s 4Jd; Masonite, 555; Broken Hill Pty., 43s 6d; North Broken Hill, 755; Broken Hill South, 60s 6d; Oil Search, 22s 4d; Ampol Exploration, 645. MELBOURNE Trading was again active in the investment section of the Melbourne Stock Exchange yesterday. Rises well exceeded falls. Sales.— A. and N.Z. Bank, 48s 3d; British Tobacco, 32s 6d; Courtaulds, 21s 3d; Dunlop, 37s 6d; Feltex, 32s 6d; Coles, 18s 3d; Gordon and Gotch, 31s 6d; Humes, 52s 3d; Woolworths, 21s 9d; Electro. Zinc, 335; Herald, 16s 3d; Consol. Zinc, 40s Id; Mount Lyell, 17s; Mount Morgan, 23s 9d; Oil Search, 22s 6d; Ampol Petroleum, 31s 3d; Ampol Exploration, 65s 9d. CHRISTCHURCH QUOTATIONS

Sales 01 ’Change Listed Var’n. £ s. d. £200 N.Z. Govt. 31 p.c. Stock, 1953-57 .. 99 12 6 100 Feltex 1 7 6 +1/100 Booth, Macdonald 0 6 0 300 Woolworths, Ltd. 0 18 0 Sales on ’Change, 200 Andrews and Beaven, pref. Unlisted 10 0 +ld Sales Reported, £1200 N.Z. Govt. 3 p.c. Stock, 1963-65 (2 sales) Listed 93 0 0 100 Ballins Breweries 1 5 9 +3d 100 N.Z. Breweries (late sale Wednesday) .. 2 6 9 4-9d 200 N.Z. Breweries 2 6 9 4-9d 50 South British Insurance 3 4 6 N.C. 200 Dalgety “A” 0 11 4 —2d 100 Goldsbrough, Mort, *c.d. 1 14 0 +1/6 50 Nat. Mortgage “B,” c.d. 2 8 0 100 Timaru Wool 1 9 6 +6d 250 Aulsebrooks, pref. (2 sales) 1 3 6 — 400 G. J Coles 0 15 1 N.C. 100 Humes 2 4 3 — 200 N.Z. Forest Prods. 0 15 4 +3d 100 Norvic Shoes 0 15 0 N.C. 400 Wool worths, N.Z., c.d. 39 Bank N.S.W. 1 33 2 0 9 0 Sales Reported, 200 Canty. Seed Uyli sted 8 3 +3d

N.Z. Govt.— Buyers. £ s. d. Sellers, £ s. d. 3 p.c., 15/9/52-55 .. 99 5 0 * 3 p.C., 15/4/56-59 .. 96 0 0 3 p.C., 15/11/57-60 .. 3 pic., 15/8/59-61 .. 95 0 0 94 15 0 3 p.c., 15/7/61-63 .. 93 0 0 MM 3 p.c., 15/7/62-64 .. 92 12 6 MM 3 p.c., 15/7/63-65 .. 93 0 0 MM 3 p.c., 15/5/64-66 .. 31 p.c., 15/9/57-60 91 15 0 96 10 0 3J p.C., 15/1/53-57 99 12 6 4 p.c., 15/6/52-55 .. Lyttelton Harbour, 101 7 6 — 4 p.c., 1/2/65 ..' Auck. Gas, Perp. 100 0 0 100 10 0 Deb Banks— Bank of Adelaide Comm. of Aust, 1 19 6 1 14 0 new 0 16 4 0 16 9 Adelaide, rights .. 0 7 0 MM Aust, and N.Z., c.d. 1 13 3 MM Pref. 6 17 6 MM Comm, of Sydney 16 10 0 16 15 0 E., S., and A. Nat. of A’asia., £1 5 13 6 111 0 12s €d .. m_ 10 0 Nat. of N.Z. 4 8 3 MM. N.S.W Breweries— 33 0 0 — Ballins, ord. 15 9 MM New Zealand 2 6 6 2 7 0 Westland •• Frozen Meat1 16 0 — Canterbury •. 21 5 0 MM Pref. 7 0 0 MM. Gear 1 6 10 ■ ■■ ■ N.Z. Refrig. 2 3 9 MM 10s 116 MMM Nth. Canty., pref. Gas12 0 — Auckland • • 0 4 9 M.. Christchurch .. 10s paid •• 0 16 9 0 6 9 —

Timaru .. Insurance— £ s. d. 13 9 £ s. a’ F.A.M.E. 17 0 ___ National 17 6 New Zealand 6 8 0 South British 3 3 6 3 4 6 Standard 4 18 6 Loan and Agency— CJ’.CJL, ord. 18 0 ■ ' Pref. 3 0 0 Ch.Ch. Build. 15 5 0 Dalgety, "A” 0 11 3 0 11 3 0 11 6 0 11 6 Goldsbrough, Mor£ c.d. 1 13 9 1 14 6 General Finance .. 0 15 0 Mutual Benefit 19 0 m—• Nat. Mortgage. “A,” c.d. 0 10 0 ■ *'B,” c.d. 2 8 0 WM Credit and Fin. .. a 3 0 15 9 N.Z.F. Co-op. 0 13 9 1st pref. 0 14 6 "A” pref. . • 0 13 7 “B” pref. 0 13 6 0 14 3 4J p.c. Stk., 1960 96 12 6 4J p.c. Stk., 1955 100 0 0 ___ 41 p.c. Stk., 1965 95 10 0 wm N.Z. Guarantee 0 2 4 MW N.Z. L. and Mer, 1 10 0 Ww Perm. Invest. 11 10 0 S.I. Finance 1 10 0 mw United Bld., Auck. 12 0 - ■ Wright, Stephenson 1 12 9 MW Pref. 13 3 ~w S p PP a‘SS-O. 1 18 3 Union, pref. •• 15 0 16 3 Woollens— Feltex 17 3 17 8 N.Z 1 14 9 wm Kaiapoi ,. 17 9 WM Korma, pref. .. 0 18 6 ■ ■ M Manawatu 3 15 0 WM Oamaru .. .. 2 5 0 Lane, Walker •. 3 0 0 — Timaru .. 19 5 19 7 Miscellaneous— Amal. Batteries .. 17 0 —— Ampol, c.d. 15 6 MW Aulsebrooks, pf. .. 13 3 13 6 Avon Metal 0 7 6 — Beath and Co. 2 12 6 WM Is paid 0 18 0 10 0 Berlei, N.Z. 1 16 0 —- Booth, Macdonald 0 6 3 Brit. Tobacco, c.d. 16 3 16 9 Broken HiU Pty. .. 1 16 3 1 16 9 Bycroft 2 6 3 — Burns, Philp 2 4 6 2 7 6 Canty. Roller Flour 0 16 0 ww Claude Neon, N.Z. 2 11 0 2 12 0 Colonial Sugar 35 5 0 35 10 0 Consolid. Brick .. — 0 12 0 Courtaulds 0 17 9 0 18 6 Dom. Builders 0 12 3 — Caro’s 14 0 Donaghy’s Rope, c.d. 2 3 0 — D.I.C., 10s paid .. 15 3 MW Pref 14 0 MW Dunlop, N.Z. 10 0 MW Pref. 0 17 0 0 18 0 Electro. Zinc, ord. 1 5 10 — Pref. 14 0 wm Evans Atlas 0 16 9 WM Fletchers, c.d. .. 2 1 0 2 2 0 “B” pref., c.d. •• 116 1 1 10 Coles, rights •« 0 10 4 0 10 6 G. J. Coles »• 0 15 0 0 15 2 Greater Crystal •• 10 3 WM Humes .. 2 4 0 WM Hay’s .. •• wm 3 8 0 Henry Berry •« 12 6 13 4 J. Gadsden •• 19 0 »■■■ J. J. Niven 3 3 0 — K.D.V. Boxes .0 11 3 MW K.P. Drugs /5 16 6 wm Love Construction 15 3 WM Macky Logan 1 16 6 M— Maling, pref. 10 7 MW Mason, Struthers, £1 paid 1 15 0 W ■ 10s paid 0 17 9 MW Milne and Choyce 2 12 0 MW McKenzies, x.d. .. 0 17 6 MW McLeod .. 2 5 0 MW Metters, N.Z. 0 5 0 0 11 0 Midland Moto* s, pref. 0 19 0 10 3 Milburn Lime •. 18 9 — M.K. Manufac. 0 12 6 0 13 6 Morris Hedstrom,

c.d. .. . ♦ 2 2 0 — Morts Dock 0 16 0 m— Nat. Electric 6 5 0 —- N.Z.F. Fertiliser -. 1 16 0 —— N.Z. Forest Prod. 0 15 3 0 15 8 Pref. 0 18 6 — N.Z. Newspapers .. 1 10 0 MM N. Roller Mills .. 1 18 .0 MM. Norvic Shoes 0 15 0 MM Otago Daily Times 2 4 0 MM Rubber Distrib. .. 0 2 9 -MM Quill Morris 14 0 15 6 Reid Rubber 0 18 6 MM Pref. .. . • 0 19 6 — Silknit 0 5 6 0 10 6 Skellerup, pref. .. Turnbull and Jones 110 1 15 3 — Pref. 110 M ■ Whakatane, ord. .. 0 18 9 MM Pref. 10 6 MM Whit, and Tombs .. 18 0 MM Wm. Cable 18 9 MM Wmson. Jeffery 17 0 MM Wilson’s Cement, c.d. 0 15 4 MM W’worths, ord. 0 17 11 0 18 2 2nd pref. m— 116 (N.Z.), ord., c.d. 12 9 1 2 10 ' (N.Z.), pref. 1 15 6 MM (N.Z.), Prop. pf. 13 0 MM W. R. Cooke and Son 0 10 0 MM Watties .. .. 1 12 0 MM Australian MiningMount Morgan 0 19 3 10 0 MiningGrey River •, 0 2 9 0 3 3 Ngahere .. . H 0 13 Snowy River 0 2 3 0 4 0 UNLISTED STOCKS Airwork 12 0 Alex. Harvey, c.d. 2 17 3 MM Andrews and Beaven, pref. 0 19 11 MM Ord. MM 14 6 Deaths (Is paid, 19s deposit) 1 17 0 1 17 6 Buntings 17 0 MM Canty. Seed 18 0 18 6 Christchurch Press 11 12 6 MM Cory-Wright and Salmon, pref. 12 3 Europa Oil (N.Z.), pref. MM 1 13 0 N.Z. Motor Bodies, x.d. 2 0 6 MM Tingey, R. and E. 0 14 7 MM Scales “C,” pref. .. 0 5 9 — Southland Brews. mm 14 0 Tekau Knitwear .. 1 1*9 MM Victoria Mansions 16 0 MM Waikari Lime, 17s 6d paid — 1 8 0