COMMERCIAL

Press, Volume XC, Issue 27405, 19 July 1954, Page 10

COMMERCIAL

STOCK EXCHANGES WEEK’S TRANSACTIONS REVIEWED (By Our Commercial Editor.) Last week w’as an active one on the Christchurch Stock Exchange, although the turnover was about 5000 shares down on that of> the previous week. Once again prices of stocks, in the main, tended to increase. In Australia better-class shares had a firm market. Details of sales on the Christchurch Stock Exchange, with the figures for the previous week in parenthesis, are as follows:—Government stock, £11,705 (£3940); bank shares, 1126 (1374); breweries, nil (500); gas, 270 (250); insurance, 430 (525); loan and agency, 2640 (200); shipping, 600 (900); woollens, 1225 (425); miscellaneous, 8847 (17,638); unlisted. 3600 (1521); total, 18,338 (23,333). A fairly substantial turnover in Government stocks was recorded. Prices were inclined to firm, and buyers outnumbered sellers. Banks were active. New South Wales were steady in dealings at £33 10s. National of Australasia contributing had first local business for some time to sell at the firm price of 19s 6d. A. and N.Z. Bank sold unchanged at 40s. E., S. and A. Bank rose sharply to sales at £6 6s Bd, with buyers prepared to carry on. National of New Zealand continued to improve, with business at 935. Commercial Bank of Australia preferences were steady in dealings at £7. No business was written in breweries. There was better inquiry for New Zeaitinds. New Zealand Insurance fluctuated within narrow limits, with sales at £6 10s and £6 9s 3d. Nationals changed hands at the firm price of 28s 3d. With heavy trading in Dalgety’s issues, prices for the “A” shares improved to 12s lid, and later buyers were prepared to pay more. The “B” shares were also firmer with sales at 12s Id. Goldsbrough Mort were firmer in dealings at 13s 3d and 13s 4|d. National Mortgage "A” returned to the sales list in business at 10s Id. New Zealand Farmers’ Co-opera-tive ‘A ’ and “B” preferences were fractionally easier in dealings at 13s 6d. Timaru woollens sold unchanged at 325. Lane, Walker, Rudkin preferences firmed in dealings at 23s 6d. Feltex (New Zealand), after early business at 35s 9d, improved to buyers at 365. Korma ordinaries had their first business for some time to sell at 16s 9d. Kaiapois were fractionally easier in business and buyers at 28s 6d.

Business among shipping was confined to Union Steam, which sold unchanged at 265. Buyers for P. and O. increased their offers sharply. preferences sold unchanged at 24s 3d. Woolworths New Zealand, after selling unchanged at 22s 6d, had buyers at 22s lOd. Clyde Engineering were lightly traded at 23s 3d. K.P., N.Z. Drugs continued to advance, and buyers, after paying £6 3s, increased their offers to £6 ss. Reid Rubber preferences were fractionally firmer in sales at 19s 71d. Humes New Zealand preferences and Skellerup preferences sold unchanged. Whakatane Board Mills rose further in sales at 20s od, and the preferences were steady in dealings at 21s 6d. William Cable Holdings improved sharply after the dividend announcement, to sell at 335. New Zealand Newspapers continued to climb, with sales at 33s 3d and 33s 6d, and northern business at 345. Berlei « vH s t r^es ’ w bich are seldom on offer, had light trading at the firm price of 37s 6d Frozen Products sold 6d down at 7s 6d. Hallenstem Bros, returned to the sales list to sell at 355. Booth, Macdonald sold 3d up at 6s 9d. N.Z. Forest Products lost 2d in business at 14s 6d. A parcel of Hay s shares sold at the firm price of 67s Australian stocks, Woolworths, Ltd. s, rights were active throughout the week in sales ranging between 10s 9a and Ils, and the shares were lightly £ aded at + Bd , and 15s 9d ’ with more wanted at the close at the latter price. Su g ar, after seJUng unchanged at £36 10s. improved to buyers at £36 1 -J, . J- Coles continued to advance with sales at 16s. Humes, Ltd., were fractionally firmer In sales at 44s 3d. A.CJ rose sharply to sell at 40s 3d. In the unlisted section Matea Forests, after early business at 2s Bd, improved to sales at 2s 9d. These shares were active throughout the week. Woolf and were traded at the firm price