COMMERCIAL

Press, Volume XCI, Issue 27683, 13 June 1955, Page 14

COMMERCIAL

STOCK EXCHANGES WEEK’S TRANSACTIONS REVIEWED (By Our Commercial Editor.) The short week was responsible for some reduction in turnover on the Christchurch Stock Exchange last week, but even taking this into account trading was light. Markets generally remained steady. In Australia markets generally held a firm front, although some of the speculative shares were fractionally easier. Sales, with the figures for the previous week in parenthesis, were as follows: Government stock, £3400 (£14,565); bank shares, 239 (355); breweries, nil (600); frozen meats, 90 ( 300); gas. 300 ( 300); insurance, 1180 (2175); loan and agency, 500 (1950); shipping, nil (200); woollens, nil (650); miscellaneous, 4690 (11.450); unlisted. 1150 (2500); total. 8149 (20,580). Government stock was very lightly traded. Constant buyers were on hand for all issues, and prices tended upwards. The banking section was quiet. New South Wales improved in sales from £33 7s 6d to £33 10s, with buyers unsatisfied at the later figure. National of N.Z. dropped 2s 6d to sell at £5 3s. For the first time for weeks no brewery shares changed hands. Among the frozen meats, Canterbury Frozen Meat were firm in business at £7 12s 6d. New Zealand Refrigerating paids improved in light business at 49s 6d, with buyers prepared to continue. The company’s contributings had no sales, but buyers advanced their offers to 24s 6d. Christchurch Gas improved to dealings at 18s. In the insurance section. Standards sold unchanged at 995. Nationals were unchanged in business at 275. New Zealands were actively traded at £6 16s, at which figure the market was cleared of sellers. A sale of New Zealand Farmers’ Cooperative A preferences at the unchanged price of 14s 3d, and a sale of Wright, Stephensons at 465, provided the only business in the loan and agency section. Coles advanced to dealings and buyers a t. 15s 2d. Broken Hill Proprietary contributings had their first business for some time to sell at 15s 6d. A parcel of Myttons. Ltd. (Melbourne), manufacturers of metal products, sold at 10s 9d, and subsequently buyers offered Ils 4d. Aulsebrook preferences (new) sold unchanged at 22s 3d. M.K. Manufacturers were fractionally firmer in light business at 12s 3d. Reid Rubber were lightly traded at the improved price of 24s 6d, and later buyers were prepared to pay a little more. Woolworths, New Zealand sold unchanged at 20s 6d. William Cable Holdings were firm in business at 335. Watties Canneries sold unchanged at 365. K.P.N.Z. Drugs were steady in sales at £7 ss. Norvic Shoes eased to sales at 13s 6d. Booth, Macdonald sold at the easing price of ss. „ r Ar P ong the unlisted stocks, Kaiapoi Wool ordinaries were traded at 295, with more on offer at the same price. R. and E Tingey ordinaries again sold unchanged at 10s 6d. Matea Forests, which come well within the range of' speculative stocks, dropped 2d in a sale at 4s 2d. COMPANY NEWS Commercial Bank's Issue.—The Commercial Bank of Apstralia advises that New Zealand shareholders may take up their quota of the new issue in New Zealand currency, but Australian funds are of course preferred.