COMMERCIAL

Press, Volume XC, Issue 27471, 4 October 1954, Page 15

COMMERCIAL

STOCK EXCHANGES WEEK’S TRANSACTIONS REVIEWED (By Our Commercial Editor.) A substantial volume of business was recorded on the Christchurch Stock Exchange last week. Losses exceeded gains but most stocks dealt in were at firm rates, no serious price recessions being recorded. Turnover for last week, with the figures for the previous week in parenthesis. was as follows:—Government stock, £8375 (£13,390); local body and company debentures, £2OO (£200); bank shares, 543 (2200); frozen meat, nil (30); gas. 200 (200); Insurance, 500 ( 500); loan and agency, 700 (400); shipping, 200 (375): woollens, 2800 ( 950); miscellaneous, 16,923 (30,890); unlisted, 5204 ( 500); total, 27,069 (36,045). There was a moderate turnover in Government stocks, with a steady demand for most issues. Sales were largely firm on late rates. .

Banks were lightly traded. National of Australasia sold 6d down at 31s. New South Wales were unchanged in constant business at £33 15s. National of New Zealand were unchanged in a sale at £5 is

No business was written in breweries and frozen meats. In the one sale of gas, Christchurch paids sold unchanged at 19s. Business in insurances was confined to a parcel of Nationals, which were traded at the firm rate of 28s. Quotations for both New Zealands and South British firmed slightly. ~N ot much business was transacted in the loan and agency section. It was confined in the main to South Island Finance, which sold, cum dividend, at 29s 9d. Wright, Stephenson, 10s paids, sold at 28s. Buyers’ bids for Dalgetys, National Mortgage, New Zealand Loan and Mercantile Agency, and Wright, Stephenson was persistent throughout the week. . A arrsa P P arcel of Devonport Steam sold at 28s 6d. Union Steam, preferences, were unchanged in business at 26s 9d. Lane, Walker, Rudkin dominated ttfe woollens in numerous sales at the atealy rate of 435, and the demand was unsatisfied. Felt and Textiles (Aus.) lost ground to sell at 26s 3d. Once again the rights marked played an important part in the miscellaneous section. Aulsebrooks, rights, continued to be active in business at the firm price of * s -, “? as anc * Glendining were traded on a falling market, and at the close sold as low as 5s Id. Broken Hill, rights, were actively traded at 6s 7d, 6s 8d and 6s 6d m that order, and the company’s shares were steady in sales at 335. Ampols lost up .to 2s 6d in sales at 255, 245, and 255, in that order. Mason, Struthers changed hands at 335. In their first local sale for some time National Electric sold unchanged at £7 Is. Hay’s, cum dividend, were steady at 68s 6d. Fletcher Holdings lost 6d to sell at 41s 6d. Woolworths, New Zealand, were steady in business at 22s 6d, and Woolworths. Ltd., sold at 15s Id and 15s, with buyers prepared to carry on, A parcel of Woolwoxths Properties, preferred ordinaries, changed hands at 17s 4d. Speedway Products (old issue) sold unchanged at 26s 9d. Booth, Macdonalds showed no change to sell at 5s sd.

Coles sold unchanged at ISs 3d, and later rose to 15s 4d. Whakatane Board Mills, preferences, had unchanged business at 22s 6d. Nivens were traded at 46s 9d, and 475. M.K. Manufacturers, cum rights, had dealings at 15s. Northern Rollers were steady in sales at 455. Whitcombe and Tombs remained firm at 31s 6d.William Cable Holdings rose 3d "to sell at 32s 9d. Wilson’s Cement receded slightly to business at 15s. McKenzies sold unchanged at 20s 6d. New Zealand Forest Products lost further ground in business at 15& 6d. An odd parcel of Dental and Medical sold at 345. The unlisted section, with a total of 5204 sales, had more than its usual share of business. Sales comprised: Kaiapoi Woollen, ordinaries, unchanged at 27s 6d: Vibrapac at 18s 6d (up Is), Cory, Wright and Salmon, preferences, at 22s 3d. Tudor Hosiery, at 22s 6d; Beaths (Is paid. 19s on deposit), at 38s 9d, and A.P.A. at 23s 6d. In addition, Tasman Pulp and Paper, contributings, had fairly extensive dealings ranging from 6s to 5s 9d.