COMMERCIAL

Press, Volume XC, Issue 27408, 22 July 1954, Page 15

COMMERCIAL

STOCK EXCHANGES high bid for national ELECTRIC Prices continued to move in sellers’ favour in light trading on the Christenurch Stock Exchange yesterday. Bank shares lacked the buying support of recent days. Among the breweries buyers reappeared for Ballins issues, which have been somewhat neglected of late, but in each case quotations were wide. Offers for rhe ordinaries were 26s 9d—2Bs 6d sellers—and 20s 6d was bid for the preferences against sellers at 21s 6d. New Zealanders had steady buyers and sellers at 47s and 47s 6d respectively. Buyers for Canterbury Frozen Meat ordinaries advanced to £22 15s, but otherwise frozen meat shares were steady, with sellers’ quotations for only Southlands. Most loan and agency shares were keenly sought on a market largely bare of sellers, and business was confined to three parcels of National Mortgage A, a steady demand for which persists. Among miscellaneous securities Milburn Lime rose sharply to business and buyers at 30s 6d, whilst 1.C.1., A., N.Z., advanced to sales at the same figure, the market closing with buyers at 30s 3d and sellers at 30s 9d. McCaskey preferences, which are very sparingly traded, gained on a sale at 18s 6d, with more wanted at 18s. Buyers’ quotations for National Electric advanced 5s to £6 15s without interesting sellers. _ These very closely-held shares are by virtue of this bid the highestpriced New Zealand £1 shares on the market today. Twelve months ago the shares were priced at 965, since when the dividend has been lifted from 20 per cent, to 25 per cent. With reserves of £358,141 against a capital of £118,270, today’s buyers may be anticipating something additional to the ordinary dividend in a few months.

Woolworths, Ltd.’s, rights settled down to sales and buyers at 10s lOd, whilst the shares had a higher market with buyers at 16s and sellers at 16s 3d. Coles, however, looked weaker with buying offers of 15s 9d and sellers wide at 16s 2d.

AUCKLAND Sales.—Late Tuesday; 250 A.N.Z. Bank, 40s; 75 N.Z. Insurance, £6 9s; 100 Farm. Trading, 43s 6d; 200 1.C.1., 30s 6d; 200 J. Wattie, 37s 6d; 300 Speedway Products, new, 245. Yesterday: £9250 15/12/53-56 3 per cent., £97 15s; £250 15/5/62, 32 per cent., £9B 2s 6d; £2OO 15/6/52-55 4 per cent., £lOO ss; 300 Comm. Bank Aust., new, 17s 4d; 240 Dominion Breweries. 89s; 200 New Zealand Breweries, 475; 550 Auckland Gas (10s paid), 5s 3d; 100 Natl. Insurance, 28s 6d; 700 South British, 63s 3d; 500 Newton King, 18s; 500, 18s 3d, and 250 pref., 24s 6d; 200 8.H.P., 375; 200 Caros, 255; 400 Farmers’ Trading, 43s 6d, and 100 “C” pref., new, 22s 3d; 960 Fletchers, 41s 6d; 700 J. Wattie, 37s 6d; 200 Forest Products, 14s 4d; 100 N.Z. Newspapers, 345; 200 N.Z. Paper Mills, 35s 3d; 100 Northern Roller, 455; 200 Speedway, new, 24s 6d; 400 Tip Top Ice, 22s 6d; 300 Woolworths, N.Z., 235; 152 Woolworths, Ltd., rts., 10s lOd, and 100 10s lid. Unlisted: 300 Tapper, ord., 275. WELLINGTON

Sales.—Late Tuesday: £5OO 3 per cent., 1952- £99 15s; 500 Commercial Bank Aust., cum div., 17s 6d; 75 N.Z. Insurance, £6 9s; 200 Dunlop N.Z., pref., 17s 3d; 100 J. Wattie Canneries, 37s 6d; 200 Whakatane pref., con trib., 15s 9d; 2578 Woolworths, Ltd., rts. (3 sales), 10s lOd; 500 Oil Search, 25s 6d. Yesterday: £2OO 3 per cent., 1952-55, £99 15s; £6OOO Dec., 1953- (2 sales), £97 15s; 600 Commercial Bank Aust., cum div. (3 sales), 17s 6d; 75 N.Z. Insurance, £6 9s; 200 Natl. InsUnce. 28s 3d; 400 South British Insurance, 63s 3d; 1500 National Mortgage "A,” 10s Id; 50 Huddart Parker, 42s 6d; 100 Putaruru, pref.. 20s 6d; 900 British Tobacco (2 sales), 27s 6d; 300 B.H.P, 375: 200 Caros, cum div., 255: 80 D.1.C., odd lot, 275; 300 Fletcher Holdings (2 sales). 41s 6d; 500 Frozen Products, 7s 6d: 400 J. Wattie Canneries (2 sales), 37s 6d; 400 McKenzies, 21s 3d; 100 N.Z. Forest Products. 14s 6d; 100 Reid Rubber, 19s 8d; 2640 Wool worths, Ltd., rts. (7 sales), 10s 9d, and 152 10s lOd. Unlisted: 100 Cory. Wright, Salmon, ex div., 32s 6d.

DUNEDIN • Sales.—Late Tuesday: 400 Comm. Bank, ord., 17s 6d; 300 Wellington Gas, 19s 9d; 400 8.H.P., 375. Yesterday: £lOOO 3 per cent., 15/5/53-56. £9B 10s; £6OO 3 per cent., 15/12/53-56, £97 15s; 500 A. and N.Z. Bank, 40s; 500 Nat. Mort., A, 10s 2d; 109 Nat. Mort., B, 48s; 100 Wright, Stephenson, con., 19s 9d; 200 Ampol Petrol. 33s 6d; 300 8.H.P., 375; 100 Bea ths, fully paid, 545; 100 Fletcher Holds., ord., 41s 6d; 250 Milburn Lime, 30s 3d; 123 Woolworths, 16s; 600 Woolworths, rights (3 sales), 10s lOd; 794 Wool worths. 10s 9d; 300 Woolworths, N.Z., 235; 100 Mount Lyell, 15s Ud. INVERCARGILL

Sales Reported.—£3so Govt. Stock, 3 per cent., 1952-55, £99 15s; £4OO 1953-56, £9B 10s; 200 Natl. Insurance, 28s 6d; 100 Broken Hill Prop., 375.

OVERSEAS EXCHANGES SYDNEY

Strong rises continued in many sections of the investment share market at Sydney yesterday, despite a tendency by some leaders to level-off. Uranium issues again boomed. , Sales.—Commercial Bank Sydney, £2l 17s; Bank New South Wales, £3B 17s 6d; Tooth, 80s 6d; Tooheys, 27s 3d; Commonwealth Bank Australia, 21s 3d; Associated News, pref., 22s 3d; A. Hordern, 275; A.C.1., 52s 3d; Berlei, 425; Bradford, 355; British Tobacco, 335; 8.H.P., 45s 4d; Burns Philp, 60s; Colonial Sugar, £44 15s; Courtaulds. 20s 9d; Drug Houses, 33s 9d; Felt and Textiles, 335; Goldsbrough, 435; 1.C.1., 36s l%d; Morts Dock, 21s; Taubmans, 18s 6d; Winchcombe, 425; Woolworths, 19s 7Jd; W. R. Carpenter, 17s 9d; Yarra Falls, 38s; Ampol Petroleum, 41s 9d; Mount Isa, 565; North Broken Hill, 86s 6d; South Broken Hill, 665; Associated Oil, 15s; Freney, 13s 6d; Oil Search, 29s 6d; Ampol Exploration, £5 7s; North Uranium Development, 10s 3d; West Uranium, 8s 9d; Uranium Development, 13s sd; Uranium Mines, 14s 4d; North Australian Uranium Corporation, 16s Bd. MELBOURNE Trading volume was maintained at a high level in the investment section at Melbourne yesterday, and, although some profit-taking forced a few issues down slightly, the market maintained a firm undertone. Uranium shares were again active at higher prices, while a keener demand for oil snares was also noticeable. Gold and silver-lead maintained a firm trend. Sales.—B.H. South, 65s 6d; Mount Isa, 575; Mount Lyell, 18s 3d; North 8.H., 87s; Uranium Mines, 14s; Emperor, 18s 9d; Loloma, 27s 9d; Mount Morgan, convert., pref., 12s 9d; Oil Search, 29s 6d; Ampol Petroleum, 39s 9d; G. J. Coles, new, 20s; Ampol Exploration, £5 7s 6d; Oil Search, new, fully-paid. ?9s 6d; Commercial Bank, 21s 4d; E., S„ and A. Bank, £7 10s; Goldsbrough, 42s 6d; Carlton Brewery, 35s Id; Ampol Petroleum, 41s; Assoc. Pulp, 24s 6d; A.C.1., 51s 6d; Bradford Cotton, S4s 9d; British Tobacco, 335; 8.H.P., 455; Courtaulds, 20s 6d; Drug Houses, 345; Dunlop 335, pref., 37s 3d; Electro. Zinc, 36s 6d; Felt and Textiles, 335, second pref., 21s 3d, and third pref., 14s; G. J. Coles, 20s 7d; Gordon and Gotch, rights, 14s; Henry Jones, 51s; Herald, 18s 6d; Humes, 555; 1.C.1., A.N.Z., 36s 3d; Myer, 12s 9d; N.Z. Forest, pref., 235; Olympic, consol., 9s 3d; Woolworths, 19s 6d, and rights, 14s. LONDON J A.N.Z. Bank, sale 395; Commercial Bank Aust., buyer 16s 9d, seller 17s 9d; E., S., and A. Bank, sale £6 ss; Bank N.S.W., buyer £3l 15s, seller £32 10s; British Tobacco, buyer 24s 9d, seller 25s 9d; Goldsbrough Mort., sale 33s 6d; Dalgety. sale 12s 9d; National Bank N.Z., sale 91s; Dalgety. 1955-70, buyer £95, seller £97; N.Z. Loan and Merc., 4 per cent, deb., buyer £B2, seller £B4; ordinary stock, sale 27s 4Jd; P. and O. deferred, middle price, 42s IOJd. CHRISTCHURCH QUOTATIONS

DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change Listed £ s. d. Var’n. £200 N.Z. Govt. 3 p.c. Stock, 1961-64 91 10 0 —- £200 N.Z. Govt. 4 p.c. Stock, 1954-58 100 5 0 200 I.C.I., A., N.Z., cum div. 1 10 6 +1/9 200 Milburn Lime 1 10 6 +2/9 50 Woolworths, Ltd., rights 0 10 10 N.C. Sales Reported, Listed £500 N.Z. Govt. 3 p.c. Stock, 1959-61 94 10 0 20 Waitaki Farmers' Freezing, late sale Tuesday 12 2 6 N.C. 300 Wellington Gas, late sale Tuesday 0 19 9 N.C. 2000 National Mort. A (3 sales) 0 10 100 A.M.P.O.L. 1 14 0 N.C. 100 Fletcher Holdings 2 1 6 +3d 100 Hay’s, Ltd., late sale Tuesday 3 7 6 N.C. 600 McCaskey, pref. .. 0 18 6 +6d. 35 N.Z. Insurance 6 9 6 4-3d Sales on ’Change Unlisted 200 Matea Forests 0 3 0 4-3d 100 Wooff and Salvesen, ord. 1 7 0 N.C.

Buyers. Sellers. £ s. d £ s. d. N.Z. Govt.— 3 p.c., 15/9/52-55 .. 99 15 0 — 3 p.C., 15/5/53-56 .. 98 2 6 98 7 6 3 p.c., 15/12/53-56 .. 97 10 0 — 3 p.c., 15/2/55-58 .. 97 12 6 — 3 p.C., 15/8/59-61 .. 94 7 6 94 10 0 3 p.C., 15/4/60-63 .. 92 10 0 — 3 p.c., 15/6/61-64 .. 91 10 0 91 15 0 31 p.C. 15/1/56-59 .. 96 2 6 — 31 p.c.’, 15/9/57-60 .. 96 7 6 — 31 p.c., 15/1/5C-57.. 98 0 0 — 3% p.c., 1962 .. 98 2 6 — Banks— Aust, and N.Z. .. — 2 0 3 Comm, of Aust. .. 0 17 4 — Comm, of Sydney — 18 6 0

Natl, of A'asia., £1 Buyers. £ s. d. 1 10 3 Sellers. £ s. d. N.S.W. 33 5 0 33 12 6 Breweries— Ballins, ord. 16 9 1 8 6 Pref. 10 6 6 New Zealand 2 7 0 2 7 6 Frozen Meat— Canterbury 22 15 0 — Pref. 7 5 0 — N.Z. Refrig. 2 6 0 — 10s 12 3 Nth. Canty., pf. .. 12 0 —— Southland 4 14 0 4 14 9 Gas Auckland 0 5 0 —— Christchurch 0 18 0 ——, 10s paid 0 8 0 _— Timaru 16 6 — Wellington 0 19 9 — Insurance— F.A.M.E. .. 16 9 — National .. 18 3 1 8 9 New Zealand, c.d. — 6 9 6 South British 3 3 0 3 4 0 Standard —. 5 2 0 Loan and Agency— C.F.C.A., ord. 19 0 WM Pref. 3 0 6 Chch. Building 16 0 0 —— Dalgety 0 12 6 0 13 0 Golds., Mort — 1 15 0 Mutual Benefit 1 10 3 — Nat. Mortgage “A” 0 10 1 0 10 2 N.Z.F. Co-op. 0 13 10 w— First pref.. 0 14 9 WM “A” pref. 0 13 6 — “B" pref. 0 13 6 — 4J p.c. Stk., '60 .. 98 5 0 . p.c. Stk., *55 .. LOO 0 0 —- N.Z. Guarantee 0 2 3 WM N.Z. L. and Mer., fully paid 1 8 6 Perm. Invest. 11 15 0 S.I. Finance 1 10 0 1 12 0 United Building .. 0 19 6 —— Wright, Stephenson, contr. .. — 1 0 0 Shipping— Union, pref. 16 0 Woollens— Bruce 2 2 0 Feltex 16 3 MW N.Z. 1 16 0 Pref. 1 1 0 1 2 6 Kaiapoi, pref. 1 7 9 Korina, ord. 0 17 0 .. , Pref. 0 19 3 Manawatu 3 10 0 M— Mosgiel 3 6 0 Lane, Walker Rudkin, pref. 13 3 Timaru 1 12 0 1 12 6 Wellington, pref. .. 10 0 0 Matheson. Minster 0 10 3 ,, Miscellaneous— Alloy Steel (N.Z.) 2 2 0 2 10 0 Amai. Batteries .. 17 0 Ampol 1 15 6 Andersons, 1st pf. 12 0 Aust. C.I. 2 2 0 2 4 0 Avon Metal 0 6 6 0 12 6 Beath and Co. 2 14 6 Booth, Mac. 0 6 6 0 6 8 Broken Hill Pty. .. — 1 17 3 Canty. Roller Flour 0 17 0 WM Claude Neon (N.Z.) 2 12 0 — Colonial Sugar 36 .17 6 37 0 0 Coulls, Somerville 1 13 6 Consolid. Brick 0 12 3 WM Courtaulds 0 17 7 0 18 0 Dorn. Builders 0 12 0 WM Donaghy's Rope .. 2 5 6 —— D.I.C., 10s paid .. 17 0 1 7 6 Pref. 1 4 0 1 4 6 Dunlop, N.Z. 110 Electro. Zinc, pref. 1 8 0 Evans Atlas 0 17 0 0 18 0 Fletcher Holdings 2 16 G. J. Coles 0 15 9 0 16 .2 Greater Crystal 10 6 MW Hallensteins * — 1 15 0 Henry Berry 12 6 WM Hay’s 3 6 6 3 7 6 Humes (N.Z.). pref. 12 6 — I.C.I., A., N.Z. .. 1 10 3 1 10 9 J. Gadsden 1 10 0 1 11 0 Gordon and Gotch, rights 0 10 9 —— J. Wattie — 1 18 0 J. J. Niven, c.d. .. 3 15 0 MW K.D.V. Boxes 0 12 1 MW K.P. Drugs 6 7 0 WM John Chambers .. 18 7 — Maling, pref. 10 6 W— Mason, Struthers, £1 paid 1 15 0 1 19 0 10s paid 0 17 6 — McCaskey, pref. .. 0 18 0 WM McKenzies — 1 1 6 Midland Mot., pref. 0 19 6 1 0 0 Milburn Lime 1 10 6 1 10 9 M.K. Mfrs. 0 13 0 MW Morris, Hedstrom .. 2 4 6 WM National Electric .. 6 15 0 MW Olympic Consolid. Industries 0 7 3 WM N.Z.F. Fertiliser, c.d. 1 18 0 WWW Pref., c.d. 14 9 WWW N.Z. Forest . Prods. 0 14 3 0 14 6 Pref. — 1 0 0 N.Z. Newspapers .. 1 13 0 —w Norvic Shoes 0 10 0 — Otago Daily Times 2 6 0 WM Petrous Tile 1 12 6 WM Quill Morris 12 9 WM Reid Rubber — 0 19 9 Ross and Glendining 2 17 6 WM Silknit 0 10 6 M— Skellerup, pref. 117 1 2 6 Turnbull and Jones, pref. 110 WM Weeks 1 11 0 1 15 0 Pref. 110 1 2 6 Whakatane, ord. .. 10 6 —M Pref. 113 WM Whit, and Tombs .. 18 0 WM Wm. Cable —— 1 13 0 Williamson, Jeffery 17 3 — W’worths., ord. 0 16 0 0 16 3 Rights 0 10 10 0 10 11 (N.Z.), ord. 13 0 M— (N.Z.) pref. 13 0 —M W. R. Cooke and Son 0 11 0 WM. Mining— Grey River 0 2 6 0 3 3 Ngahere .. .. 0 0 6 0 2 0 Snowy River 0 2 7 0 3 11 UNLISTED STOCKS Buyers. Sellers. £ s. d. £ s. d. Airwork (N.Z.) 12 0 M— Andrews and Beaven, pref. 10 0 MW Colonial Motors 1 12 0 W-W Buntings .. 17 0 —— Christchurch Press 11 15 0 MM Cory - Wright and Salmon, pref. 110 WM Europa Oil (N.Z.), pref. W 1 13 0 Mackintosh. Caley, Phoenix 0 7 9 0 8 3 Lane, Walker. Rudkin Indutsries .. 16 0 WWW Matea Forests 0 3 0 0 3 1 Reece. Ltd.. E., ord. 0 13 WM Scales “C” pref. .. 0 6 1 — Tekau Knitwear .. 15 0 WM Victoria Mansions 16 0 Weeks, Wanganui, pref. •• •• 1 1 9