COMMERCIAL

Press, Volume XCI, Issue 27625, 4 April 1955, Page 12

COMMERCIAL

STOCK EXCHANGES

WEEK’S TRANSACTIONS REVIEWED

(By Our Commercial Editor.) Last week’s turnover on the Christchurch Stock Exchange equalled that of the previous week, but was much better distributed. There was a rather noticeable easing in the prices of preference shares. In Australia, price variations were not very pronounced, but once a*gain speculative shares tended to ease. London markets showed the impact of the announcement »of the deficit in Sterling and the occurrence of the newspaper strike.

Stock exchanges throughout New Zealand will close at noon on Thursday for the Easter vacation, reopening on Monday, April 18.

Details of sales on the Christchurch Stock Exchange with those for the previous week in parenthesis, are as follows:

Government stock, £lO,OlO (£40,930); local body and company debentures, nil (£300); bank shares, 900 (1564); breweries, 800 (923); frozen meat, 250 (350); gas, 250 (nil); insurance, 1650 (125); loan aQ4U agency, 1420 ( 2050); shipping, 3250 (600); woollens, 1150 (33); miscellaneous, 10,031 (14,330); mining. 630 (600); unlisted, 1038 (250); total, 21.619 ( 20,825). Government stock was moderately traded last week, without a definite trend being disclosed. Offerings were in excess of requirements. With the cessation of trading in National Bank of Australasia rights, turnover in the tanking section dropped appreciably. Commercials of Australia were steady in dealings at 15s 9d. A. and N.Z. Bank lost ground in sympathv with the recession on the London market to sell at 32s 6d. No local business was written in Bank of New South Wales, but the market was slightly easier. New Zealand Breweries continued to improve with dealings at 47s 6d and 48s 6d *. Kaliins ordinaries eased to business at 28s 6d, and the preferences sold unchanged at 20s 9d. New Zealand Refrigerating paids sold unchanged at 48s, and the contributings were easier in business and sellers at 245. Gas had poor support throughout the week. There was a sale of Christchurch at the easier price of 16s 6d. National Insurance were active in sales at 28s. Standards lost ground to sell at 955. ITew Zealands were not traded, but. were easier on quotation. South Island Finance rights had their first business at 6s 6d. These rights are in short supply, as the issue is not a large one. National Mortgage A shares sold unchanged at Ils, and the B’s had a good turnover at the improved price of 55s 6d. New Zealand Guarantee Corporation showed little movement to sell at 2s 3d. /

Union Steam preferences were freely traded at the slightly lower price of 255. Huddart Parker ordinaries had their first local business for some time to sell at 425, and the preferences sold unchanged at 18s.

Felt and Textiles (Australia) improved to dealings at 245. Lane, Walker, Rudkin preferences eased to dealings at 22s 6d Bonds Hosiery returned to the sales list

t T T >? miscellaneous section. Broken Hill Proprietary improved to sales at 32s a™ a J\ d 2s only to relapse to sales at 33s 3d at the close. The higher dividend announced for these shares during the week was the first increase for seven Coles had a fair turnover at 14s 9d, but on Friday lost 2d to sell at 14s 7d. Colonial Sugar sold unchanged at £32 15s W.oolworths, Ltd., were active at 14s 6d, b ? t ,? n «5 pida X thare wa[s a reported sale * ,» S A. Morris Hedstrom reappeared to sell at the lower figure of 41s 6d. Morts Dock lost 9d in a sale at 16s. « Glendining contributings were lightly traded at 19s Bd. The paids were steady in sales at 375. McKenzies continued to ease in sales at 20s. Kemothorne, Prosser’s N.Z. Drug sold at the improved price of £6 15s. Booth, Macdonald ordinaries improved fractionally in business at 5s 4d. Milburn Lime rights ? le venth-hour sale 6d down at 6s 6d—the issue has now closed. Aulsebrook preferences eased to sales at 22s 6d Woolworths New Zealand continued to lose, ground m light business at 19s 4d Hay s preferences had dealings at the unchanged price of 21s 9d, and the ordinaries sold 6d up at 33s 6d. New Zealand Newspapers advanced further to business s ’ An d rew S and Beaven preferences sold unchanged at 20s. Gadsden ordinaries returned to the sales list at 30s Among the minings, Mt. Lyells, after improving to business at 19s 9d. eased to th T PF eviou s sale price of 19s 6d. In the unlisted section R. and E. Tingev were J rade <i 3d down at 10s 6d. Royds Bros, and Kirk (Southland) preference rights had light business at Is H I L ar K 1S 4 We x e liBhtl y tr ade on a cum 21 £ 6d ’ E * Re€ce ordin. have bt? 11 absent from the af fc gd? fQr S ° me Ume ’ chan ««<i ba nds SMALL SEEDS AND GRAIN MARKETS (By Our Commercial Editor.) smaJl seeds markets in North Canterbury are exceptionally quiet. In the abse nce of Northern Hemisphere * n 2 UX l les j m arkets have developed a falltendency. Prices are still remarkh??Jn h J gh i’ but ? re nominal. No P assi nS at present with Australia, because of the flood damage in New South Wales, and conversely, the exceptionally dry weather in Victoria Both sets of conditions have militated ag Ai?i St se as°nal sowing programmes. Although some fairly heavy yields of red clover are reported, quality generally is not up to standard. Quotations to Farmers Potatoes.—Aucklanders and other preferred whites, £l6 a ton; Dakotas £l5 other varieties, £l4 15s a ton—all f.0.b., s.e.

Wheat.—Us 6d a bushel (on rail, grow, ers nearest siding), with the usual variety increments, plus the monthly holding increments.

Ryegrass (MJ>.).—Certified perennial • mother seed, 40s a bushel, p.p. 395, uncertified 27s 6d. Hl: mother, 40s, standing, 395; uncertified, 27s 6d. Italian: mother 37s 6d; uncertified, 28s—all subject to 98/90 minimum.

White Clover (M.D.)—Mother, 5s lid per lb; p.p., 5s lOd; uncertified, 5s Bd. Red Clover (Cowgrass).—New crop seed 4s 6d per lb.

c ?a^ B t oot *”^ s per lb (nominal) for good quality farmers’ dressed seed. ext*^ >in8 "'~ ISS * busbel * on trucks, sacks

Oats.—Gartons* 10s to 10s 6d a bushel; Algerians, 10s a bushel; Duns. 13s a bushel, and Black, 12s a bushel. Chaff.—£26 a ton, on trucks (sacks extra).

extra CC ° rn 258 * busbel on trucks, sacks

Onions.—£2o to £22 a ton on trucks, bags extra.