COMMERCIAL

Press, Volume XCI, Issue 27670, 28 May 1955, Page 10

COMMERCIAL

STOCK EXCHANGES MARKETS REMAIN FIRM Markets finished the week on the Christchurch Stock Exchange yesterday on a sound note. With due allowance for several price gains and one or two falls, markets remained very firm. DOMINION TRANSACTIONS CHRISTCHURCH

AUCKLAND sales.—Late Thursday: 300 Korma ord.. 18s 3d: and, 800, pref.. 18s 3d; 40 Colonial Sugar £33 12s 6d; 50 Milne and Choyce 59s 9d; 300 Forest Products, las 6d; 650 Waihi Invests., 2s. Yesterday: £2OO 15/11/57-60. 3 per cent., £94 2 s 6d; £lOOO, £94 ss; 300 Commercial Bank Aust., 15s lid; 500 Auckland Gas (10s paid), 5s 7d; 200 Newton King, pref., cum div., 235; 400 NZ. Guarantee. 2s 2d; 100 Feltex, Aust., 24s 3d; 65 Electro. Zinc. 35s 6d: 200 Farmers’ Trading. “C” pref.. 20s 6d; 100 Fletchers, 425; 500 Fletchers, “B pref., 20s 6d; and. 100 “C” pf., 21s 4d; 500 General Industries, 37s 6d; 1000 Coles 15ss Id; 1500 N.Z. Newspapers, 32s 9d; 66 William Cable (odd lot). 32s 3d. Unlisted: 200 Heards. 40s: 334 Hellabys, 5 per cent, pref.. 225; and, 100, ord., 45s 6d. WELLINGTON Sa l es —Late Thursday: £5OO 3 per cent., 55-58, £97 10s; 30 Bank New- South Wales, £33 ss; 350 J. Gadsden. 31s; 300 Motor Specialities. 44s 6d; 100 Woolworths. Ltd., • 14s lOd: 200 Woolworths. N.Z., Properties, pref., 225. Yesterday: £lOOO 3 per cent., Dec., 53-56 £99 10s; £6OO Wgtn. C.C., 3A per cent., 1/11/62. £92 10s: £BOO Wgtn. C.C., 3i per cent., 1/2/63, £93; 100 N.Z. Refrigerating, 495; 100 Kauri Timber, 30s 6d; 100 Felt and Text., Aust., 24s 3d; 10 Colonial Sugar, £33 10s; 200 Dunlop, N.Z., ord.. 21s 9d; 100 Fletcher Holdings, cum div., 425, and 100 “C” preference. 21s 6d; 700 G. J. Coles (2 sales), 15s; 200 Griffin and Co., 42s 9d: 300 J. Watti'e Canneries, 365; 50 National Electric, £6 10s; 400 Newton King, 17s 9d: 200 N.Z. Forest Products, 15s 7d; and, 400, 15s 6d; 500 Woolworths. Ltd.. 14s lOd: 100 Woolworths, N.Z., pref., 365; 460 Woolworths, •N.Z’., Properties, pref., 225. Unlisted: 555 Matea Forests. 4s 7d. I Reported.—so Standard Insurance, 88s ;6d; £llOO Wellington Harbour Board, 41 per cent.. 28/2/61, £lOO 10s- 225 Timaru (Wool. 335. * DUNEDIN Sales.—loo N.Z. Refrigerating, cont.. 245: 100 Standard Insurance, 98s 6d; 200 Bruce Woollen, ord., 46s 6d; 200 G. J. Coles, 15s Id. Reported.—soo Coulls, Somerville. Wilkie. 35s 6d; 300 Dominion Fertilisers, 435; 209 Dominion Rubber, 16 s 6d; 50 NaSES tional Electric. £6 10s; 100 Standard Insurance 98s 6d; 300 McLeod Bros., 42s 9d. INVERCARGILL Sales Reported— £soo Govt, stock, 62/64, £92; 100 Southland Frozen Meat, 595. OVERSEAS EXCHANGES SYDNEY The investment market was very steady on the Sydney Stock Exchange yesterdav. Some leaders showed rises, and others sold at recent rates. Oil shares were mostly stronger, and uranium were firmer. Sales.—Commercial Bank of Sydney. £l9 19s; Commercial Bank of Australia, 19s 6d; Bank of New South Wales. £37 7s 6d; Tooheys, 29s 6d; Tooths. 58s; Associated Newspapers, pref., 20s 6d; Anthony Hordern, 38s 3d; A.C.1., 48s 3d; A.P.M., 21s 3d; Bradford, 425; British Tobacco, 37s 6d; Broken Hill Pty., 41s; Burns. Philp. 56s 6d; Colonial Sugar, £4l 17s 6d; Courtaulds, 17s 4Jd; David Jones, 57s 9d; Drug Houses, 32s 6d; Dunlop, 335; Electro. Zinc, 45s 9d; Email. 16s 6d; G. J. Coles, 19s; Goldsbrough, 37s 7d; 1.C.1., 41s 3d; Morts Dock. 20s 9d; N.Z. Forest, 18s 9d; Taubmans. 17s 3d; W. Mofflin, 5s 7d; Woolworths, 18s 9d: Yarra Falls, 34s 9d; Mount Morgan. 25s 3d; Peko, 8s; Mount Lyell. 24s 6d; South Broken Hill. 67s 6d; Ampol Petroleum, 21s; Ampol Exploration, 28s 6d: Associated Freney, 6s 4d; Longreach. BJd; Oil Search, 10s 6d MELBOURNE Trading was again active in the investment section at Melbourne yesterday, and prices were firm. A report from Amnol Exploration that more oil had been located at the same level as previously caused a renewal of interest in oil stocks. Ampol Exploration closed with a sale at 30s, a rise of Us 3d. and Ampol Petroleum firmed 3s 6d. Other mining was quiet. Sales.—Mt. Lyell, 24s 6d; Loloma, 24s 9d. and paid 255; Ampol Exploration. 30s; Oil Search. 10s 3d; Commercial Bank, 19s fid; Goldsbrough, 37s 6d; Ampol. <2os, and options ss; Associated Pulp, 26s 3d. and new 25s 6d; A.C.1., 48s: A.P.M., 20s 9d; Aust. Iron and Steel, pref., 2(’s'6d; British Tobacco. 37s 6d; Broken Hill Ptv.. 41s, and cont. 19s 4d; Colonial Sugar, £42 15s; Courtaulds. 17s 6d; Drug Houses. 32s 9d; Electro. Zinc, 46s 3d. and pref. 44s 3d; Felt and Textiles, 29s 6d; G. J. Coles. 18s lidGordon and Gotch, 19s; Herald, 20s; Humes, 645; 1.C.1., A.N.Z., 41s, and pref. 19s; Myer, 14s 6d and pref. 30s 4d; N.Z. Forest, 18s 9d; Olympic, 9s; Woolworths, 18s 6<j. LONDON Governments.—Consolidated, 21 per cent., £6l 10s; Funding Loan, 4 per cent., £97 10s; War Loan, 3J per cent., £Bl 10s; Conversion Loan, 3J per cent., £Bl 10s; Vic--32 tory Bonds, 4 per cent., £9B 10s; Commonwealth, P er cent., £92 10s; Commonwealth, 31 per cent., £92 10s; Commonwealth, 3$ per cent., 1956-61, £93 10s; Commonwealth. 31 per cent., 1965-69, £BB 10s; Commonwealth, 3 per cent., £95 10s; South Australia, 3 per cent., £67 10s; New Zealand, 3 per cent., £lOO 10s.

UNITED STATES STOCK MARKETS “UNHEALTHY SPECULATIVE DEVELOPMENTS” (N.Z. Press Association—Copyright) WASHINGTON, May 26. A majority of the United States Senate Committee which investigated the stock market said today that there had been an increase in “unhealthy speculative developments.’' Four Republicans filed a sharply-worded dissent, which that the Eisenhower Administration and the people’s confidence in it were a major factor in the stock market rise, and accused the majority of ignoring those elements. The minority asserted that the inquiry, under the chairmanship of Senator William Fulbright, was not a study of the stock market but a studied attempt to disturb the economy. Nine Democrats and three Republicans in their majority report recommended a tightening of existing Federal laws and additional studies of “abuses” and possible manipulation. LONDON METAL MARKETS (N.Z. Press Association—Copyright) LONDON, May 26. Latest London metal prices are:—

Sales on ’Change Listed £ s. d. Var’n £200 N.Z. Govt. 3 per cent. Stock, 1957-60 94 5 0 100 N.Z. Refrig., £1 paid 2 9 0 +6d 100 Lane, Walker, Rudkin Inds. 2 2 9 +3d 100 Ampol 0 13 6 -3d 300 G. J. Coles, cum rights 0 15 2 -Id 100 McKenzies, c.d. .. 1 1 6 N.C. 100 N.Z. Forest Products 0 15 7 4-Id 800 Woolworths, Ltd. (5 sales)» .. 0 14 10 N.C. Sales Reported, £300 N.Z. Govt. 3 per cent. Stock, Dec., 1953-56 Listed 99 7 6 150 N.Z. Breweries, c d. (2 sales) 2 9 6 -3d 100 Standard Insurance ... 4 18 g +1/£100 N.Z. Farm. Co-op. 4i per cent. Stock, 1960 97 0 0 100 Korma Textiles, ord. (late sale Thursday) . .. 0 18 3 — 300 Korma Textiles, pref. (late sale Thursday) 0 18 3 4-3d 350 J. Gadsdens, ord. 1 11 0 N.C. 500 Wool worths, Ltd. 0 14 10 N.C. Sales Reported, 300 Cyclone Fence, pf., 16s paid Unlisted 0 10 6 N.C.

CHRISTCHURCH QUOTATIONS Buyers. £ s. d. Sellers. £ s. d. N.Z. Govt.— 3 p.c., 15/9/52-55 .. 99 15 0 3 p.C., 15/5/53-56 . . 98 15 0 3 p.c., 15/12/53-56 .. 99 5 0 99 10 0 3 p.c., 15/2/55-58 .. 97 10 0 3 p.c.. 15/4/56-59 . . 96 Q 0 3 p.c., 15/11/57-60 .. 94 5 0 3 p.c., 15/8/59-61 .. 94 0 0 94 5 0 3 p.c., 15/4/60-62 .. 93 2 6 3 p.c., 15/4/60-63 .. 92 0 0 3 p.c., 15/7/61-63 .. 93 0 0 3 p.c., 15/6/61-64 .. 92 2 6 3 p.c.. 15/7/62-64 .. 92 5 0 3 p.c., 15/7/63-65 .. 91 12 6 3 p.c., 15/5/64-66 .. 90 0 0 34 p.c., 15/1/56-59 .. 97 10 0 31 p.c., 15/1/53-57 .. 99 15 0 100 0 0 3? p.c., 15/9/59 99 2 6 32 p.c., 15/6/59-60 .. 99 0 0 32 p.c., 15/5/62 97 5 0 32 p.c.. 13/9/65 96 10 0 4 p.c., 31/5/54-58 .. 101 7 6 101 15 0 Banks— Adelaide __ 1 12 0 Aust, and N.Z., c.d. 1 12 0 Comm, of Aust. .. 0 15 9 0 15 11 E., S., and A. 5 10 Natl, of A’asia., £1 16 0 12s 6d 0 16 9 National of N.Z. .. 5 10 5 5 0 N.S.W. — 33 5 0 Bi ..cries— Ballins, ord. 18 6 Pref. 110 Dominion 4 11 6 New Zealand, c.d. 2 9 0 2 9 6 Frozen Meat— Canterbury 24 0 0 24 12 6 Pret. 7 7 0 N.Z. Refrig., 20s .. 2 8 6 2 9 3 10s 13 9 Nth- Canty., pref. 13 3 Gas— C ristchurch 0 17 3 Contr. 0 8 0 — Insurance— F.A.M.E. .. 19 0 National 1 7 3 New Zealand 6 16 3 South British 3 2 3 3 2 9 Standard .. 4 18 0 4 19 0 Loan and Agency— C.F.C.A., ord. 1 12 9 Ch'ch Building 16 10 0 Dalgety “A” 0 9 7 .— Goldsbrough, Mort, ' c.d. — 1 12 0 Mutual Benefit 1 10 7 Nat. Mort. “B” .. 2 15 0 2 17 6 N.Z.F. Co-op. 0 14 6 1st pref. 0 15 3 "A” pref. 0 14 0 0 14 6 4A p c. Stk.. ’60 .. 97 0 0 97 10 0 4J p.c. Stk.. ’65 .. 97 10 0 N.Z. Guar. Corpn. — 0 2 4 Perm. Invest. 11 15 0 _— Perpetual Trustees 2 5 0 __ Sth. Island Fin. .. 18 0 Wright, Stephenson 2 5 0 Pref. 13 0 Pref, new, £ 1 paid 2 4 0 Shipping— N.Z pref. 10 5 0 Huddart Parker .. 2 6 0 Pref 0 17 9 P. and O. 4 0 0 Union, pref. 14 6 15 3 Timber— Putarui u, ord. 0 13 6 Taupo Totara 2 14 0

Woollens— Buyers. £ s. d. Sellers. £ s. d. Bonds 3 10 0 __ Bruce 2 6 0 — Feltex 14 0 14 8 N.Z. 1 15 0 Korma Tex. 0 17 9 Pref. 0 13 0 Lane. Walker Ind. 2 2 6 2 3 0 Pref; 12 0 Matheson Minster 0 10 0 Tekau, pref. 10 6 1 1 3 Timaru 1 13 6 Miscellaneous— Alloy Steel (N.Z.) — 2 8 0 Amalg. Batt. 1 10 0 Ampol 0 13 3 0 13 9 Andersons, 1st pf. 1 2 0 — Andrews and Beav?n, pref. — 110 Aulsebrooks, pref. 12 0 —— New 12 0 12 6 Aust. C.I. 1 17 9 Aust. Found. Inv. 0 4 3 0 4 9 A”on Metal 0 5 0 0 9 6 Apex Ice 1 15 0 2 5 0 Beath and Co. 2 17 0 Is paid .. 13 6 __ Berlei _— 1 17 0 Begg and Co. 2 15 9 Berlei Industries .. 2 6 0 Booth, Macdonald 0 5 2 Brit. Tobacco 1 9 9 —. Broken Hill Pty., contrib. • ’.5 9 Broken Hill Pty. .. 1 12 7 1 13 0 Canty. Roller Flour 0 15 3 Colonial Sugar 33 5 0 •— Coulls, Somerville 1 15 0 Courtaulds 0 13 9 0 14 3 Dom. Builders 0 10 0 D.I.C. 14 6 15 0 Dunlop, N.Z. 1 1 7 1 1 10 Pref. 0 16 9 —• Electro. Zinc, ord. 1 15 3 ** Evans Atlas 0 17 6 Fletcher Holdings, “C” pref. 114 12 0 G. J. Coles, cum rights 0 15 0 0 15 2 Gordon and Gotch, c.d. 0 14 9 Hallenstein Bros. .. 1 15 6 Hay’s. Ltd. — 1 13 6 Pref. 12 1 Humes 2 10 9 — Humes (N Z.), pf. 12 0 — I.C.I., A., N.Z. .. 1 13 4 John Chambers .. 1 11 3 — J. J. Niven 2 6 3 — J. Wattie Canneries 1 16 0 — K.P. Drugs 7 0 0 7 6 0 Mackintosh Caley — 0 8 0 Maling, pref. 10 6 110 Mason. Struthers, £1 paid 1 13 6 1 15 0 14s paid 116 1 4 0 McCaskey, pf., c.d. —- 0 18 0 McKenzies, c.d. 1 1 6 1 1 9 Midland Mot., pf., x.d — 1 1 0 Muburn T ime 1 8 0 —— M.K. Mfrs. 0 12 0 0 12 6 Morris Hedstrom, c.d. 2 4 0 — Natl. Electric 6 5 0 — N.Z.F. Fertiliser, pref. 13 0 —— N.Z. Forest Prod. 0 15 6 0 15 9 Pref. 0 19 0 — N.Z. Indust. Gas, pref. — T 0 3 N.Z. Newspapers .. — 1 13 3 Norvic Shoes 0 14 0 Procera 0 11 6 — Quill, Morris (1936) 16 6 R. and E. Tingey, pref. — 16 6 Reid Rubber 14 0 — Pref 10 9 1 1 3 Ross and Glend. 1 17 0 Radio (1936) 0 19 0 — Speedway — 15 6 Skellerup, pref.1 0 10 — Turnbull and Jones, pref. 110 Tip Top .. 110 —. Weeks, ord. — 1 14 0 Pref. — 12 3 Whakatane. ord. .. 10 9 — New ord. 10 9 —— Whit, and Tombs 1 14 0 Wm. Cable Holdings 1 12 3 —- Contrib. 1 2 6 — Will. Jeffery 13 6 Wilson’s Cement, c.d. 0 14 9 0 15 0 W’worths, ord. 0 14 9 0 14 11 Properties — 0 17 6 N.Z., ord. 10 6 1 0 9 N.Z., pref. 1 15 0 — Pp.. pref. 12 0 W. R. Cooke and Son 0 15 10 Waltons, 5s pd. .. ___ 0 11 6 2s 6d paid 0 6 6 Tasman, £1 paid .. 12 0 Australian Mining— Mount Lyell — 10 6 Mount Morgan — 10 0 Muiing— Grey River 0 3 6 — Kaniere 0 8 0 — Snowy River —— 0 4 0 UNLISTED STOCKS Cyclone. 10s paid, 10s paid in advance 1 3 10 14 0 Cyclone, 10s paid .. 0 14 0 0 14 3 Pref., 10s paid .. 0 10 5 0 10 7 Amur! Lime — 10 0 Cyclone, pref., 10s paid in advance — . 110 Bing Harris 10 3 10 6 Deaths (Is paid, 19s deposit) 2 5 0 2 6 0 Buntings 1 9 0 Cantby. Seed 1 10 3 Carbonic Ice 3 2 0 Christchurch Press 12 15 0 Cory - Wright and Salmon 1 11 0 1 13 0 Euroua Oil (N.Z.), pref. 1 12 9 Colonial Motors .. 1 15 0 Kaiapoi 19 9 Pref. —— 15 0 Matea Forests 0 4 7 Mt. Cook Tours 0 9 6 Tingey. R. and E. 0 10 9 Regent Theatre 0 17 6 Prudential Bldg. .. __ 0 19 0 Rink Invest. 1 12 0 Scales 0 12 0 Vig. Fire Alarms 0 11 6 Tudor Hosiery 1 1 6 12 0 Victoria Mansions 1 10 0 Weeks (Wanganui), pref. — 12 0

TinBuyer £ s. d. Seller £ s. d. Spot .. 715 10 0 716 0 0 Forward .. 717 10 0 713 0 0 Lead— Spot .. 103 5 0 103 10 . 0 Forward .. 102 15 0 103 0 0 Zinc— Spot .. 90 10 0 91 0 0 Forward .. 88 15 0 89 5 0