COMMERCIAL

Press, Volume XC, Issue 27501, 8 November 1954, Page 16

COMMERCIAL

STOCK EXCHANGES

WEEK’S TRANSACTIONS REVIEWED (By Our Commercial Editor.) Turnover was heavy on the Christchurch Stock Exchange last week, 32,250 shares being traded. Markets on the whole showed no material change. The London market was very firm. On October 22 the London sharemarket was at a record peak, which was nearly reached again last week. Transactions for the week, with those for the previous week in parenthesis, were as follows:—Government stock. £19,605 (£6800); local body and company debentures, £6OO (nil); bank shares, 445 (37); breweries, nil (250); frozen meat, 617 (250); gas, 500 (1204); insurance, 200 (1200); loan and agency, 5850 (nilH woollens, 350 ( 300); miscellaneous, 19,468 (11,415)/unlisted, 4820 (2016); total, 32,250 (16,522). Turnover in Government stock was sub • stantial, all offerings being quickly absorbed. Banking issues were lightly traded. National of Australasia, preferences, sold unchanged at £6 15s. A. and NJZ. Banks had a good rise in business at 395. New South wales improved to dealings at £33 17s 6d and £33 18s. Among the frozen meats, New Zealana Refrigerating, contributings, continued to. improve with business at 23s 6d. Business in the gas section was confined to a parcel of 500 Christchurch ordinaries, which lost 3d in a sale at 17s A small parcel of National Insurance changed hands at the steady price of 27s 9d, and South British improved to business at 64s 9d. Loans and agency accounted for an appreciable share of the turnover. New Zealand Farmers’ Co-operative “B” preferences were active in dealings at 13s 6d and 13s 3d, and the company’s "A” preferences, after business at 13s 3d, were wanted at 13s 4d. United Building reto the sales list in light business at 30s. New Zealand Guarantee Corporation were active in sales at 2s sd. Wright, Stephenson shares ■ improved sharply to sell at 4fis, and the contributings recorded same advance in business at 31s. C.F.C.A., which ara infrequently traded, sold at 30s. Lane, Walker, Rudkin Industries had a number of transactions at the very firm price of 46s 6d. * Nearly 20,000 shares changed hands in the miscellaneous section. Andrews and Beaven, preferences, sold at 20s _9d. Pukemiro Colleries, which are not often dealt in, had a sale at 31s. Booth, Macdonald continued to sag, with sales at 4s 4d. Holdings, “C” preferences, soia unchanged at 21s Bd. William Cable HoldrJShts ’ had opening business at 5s Id, but eased in later transactions to 4s 9d. Apex Ice, which are seldom traded locally, sold at 40s. D.I.C. preferences were lightly traded at 23s 9d. Donaghy’s Rope eased in an ex dividend sale at 455. aLo r ° ok ’ Preferences, advanced to sell at 22s 9d, and the company’s contributing preferences had sales at 12s 3d. Dunlop, New Zealand, improved to business at 235. A particularly heavy turnw^ 3 . recorded in Northern Roller Mills, which sold at the firm price of 455. Ross and Glendining had light business at 38s. Woolworths, New Zealand, eased to sales at 21s 3d. Hhy’s, Ltd., sold u P c h a riged at 675. Reid Rubber lost part of their recent gains in business at 245. A large parcel of National Electric. sold at the firm rate of £7. Tip Top Ice lost ,6d in a sale at 20s 6d. Whakatane Board Mills, new paid preferences, had light dealings at 21s 9d. J. Gadsden, preferences, returned to the sales list at 235. Harley Chambers, preferences, which are seldom traded, had a sale at 21s Id. Ampols, which were traded lightly, fell from 22s 6d to 21s. A.C.1., after selling unchanged at 37s 3d, eased to dealings at iZ s ' T° ba cco, after early sales at the slightly improved price of 26s 3d, eased to business at 26s 3d. B.H.P. improved to business at 32s 6d. Coles, after selling unchanged at 15s, had light business at 14s lOd. Woolworths, Ltd., eased to sales at 14s lid. Morey Bros, and Thompson (major shareholders in Dominion Compressed Yeast) sold at 36s 9d. Colonial Sugar sold unchanged at £34 10s. Unlisted shares were heavily traded. Weeks (Wanganui), preferences, had light business at 225. E. Reece, Ltd.’s ordinary were active in sales at Is and Is 2d. Tasman Pulp,-- contributings, had considerable business at the improved prices of 6s 6d and 6s 7d, and business in the North Island was written up to 6s lOd. Canterbury (N.Z.) Seed Company, which are very closely held, sold at the firm price of 30s.

STOCK SALES

TINWALD There was a large yarding at the Tinwald stock double market on Friday. Prices for fat hoggets and fat wethers were down 7s to 8s oh last week’s rates, and prices for fat ewes dropped 4s to 5s a head. Several pens, of fat sheep were passed in, and farmers showed a reluctance to buy in the store section. Fat wethers sold up to 57s for medium grade and up. to 68s Id for prime wethers. Fat ewes realised up to 26s for medium quality and up to 33s Id for prime ewes. Extra heavy ewes made from 18s to 225. Fat hogpets sold up to 54s for medium grade, and up to 62s 6d for prime quality. In the store sheep section, 70 ewe hoggets in the wool sold at £5 3s, and shorn ewe hoggets ranged from 66s to 85s: wether hoggets from 45s to 575, 38 ewes and 42 lambs sold at 32s 6d (all counted), and ’139 woolly ewes and 137 lambs at 51s (all counted). PLEASANT POINT Thirty-five head of fat cattle held late values with little interest in the mixed store cattle entry at the Pleasant Point stock sale. Shorn ewes comprised the bulk of the two races of fat sheep, which met a lifeless demand. The sale of the store sheep yarding was sound. Values were:— Prime medium steers, £3B 2s 6d to £4O 12s 6d; light steers, to £36 2s 6d. Prime cows, to. £32 2s 6d. Store Bulls, £2l 10s to £65. Two-year steers, £2B to £33. Fat Sheep.—Prime wethers, shorn, 58s Id to 64s lOd; light, to 555. Prime ewes, shorn, 25s Id to 38s Id. Store Sheep.—Ewe hoggets, woolly, £5 Is to £5 17s 6d; shorn, 50s to 80s 6d. Wether hoggets, woolly, to 66s 6d; shorn, 44s to 475. Ewes and lambs, woolly, to 43s 3d; shorn, 25s 6d to 325. ST. ANDREWS Several pens of light and unfinished cattle were included in the 130 head of fat cattle offered at the St. Andrews stock sale. In spite of the wide variation in weight and quality, the demand was widespread, and values held more or less firm to recent local values. Little interest was taken in the store cattle entry. Store sheep were not offered in quotable numbers. Values were:— Fat cattle: prime steers, £4l 2s 6d to £47 12s 6d; medium, £32 17s 6d to £37 7s 6d; light, to £3O. Prime heifers, £35 17s 6d to £39 12s 6d; medium, £2B 2s 6d to £33 7s 6d; light, to £26 10s. Prime cows,

£3O to £36 12s 6d; medium, £25 2s 6d to £27 17s 6d; light, to £lB. Store cattle: yearling steers and heifers, £l4 10s to £l7; two-year, £2O to £29. Bulls, £l9 to £25 ss.