COMMERCIAL

Press, Volume XCII, Issue 27750, 30 August 1955, Page 15

COMMERCIAL

STOCK EXCHANGES

BUSINESS IN BUYERS’ FAVOUR

In a moderate turnover of business on the Christchurch Stock Exchange yesterday the trend was in favour of buyers. Woolworths, New Zealand, ordinary eased to business at 20s Bd, and at the close buyers were offering 20s 3d, with sellers at 20s 6d. In a late reported sale McKenzies also lost ground to sell at 23s 6d, with further sellers offering at that price, but no buyers. Huddart Parker, cum div., were also sharply easier at 48s 9d. Burns, Philp rights dropped to 21s 3d, and there were further unsupported sellers at that price. Hay’s, Ltd., eased to sell at 335, and further sellers were in evidence at 33s 3d. The only share to show an improvement in the day’s transactions was Ampol, which advanced Id in three sales to 14s lOd. Buyers later offered only 14s 6d, with sellers at 15s.

Quotations showed only narrow variations. New Zealand Breweries had stronger buyers at 43s Id, but no sellers. For the first time since the announcement about the possibility of the State acquiring certain gas undertakings there were Christchurch Gas sellers offering. They asked 23s for the £1 shares and 18s 6d for the 15s paid. Buyers, however, dropped their limits slightly from the end of last week to offer prices at par for both shares.

Tasman Pulp and Paper met an easing demand, with buyers at 21s 9d for the 15s paid and at 26s 9d for the fully paid, but there were no sellers. Broken Hill Propretary had fractionally better buyers.

AUCKLAND Sales.—Late Friday: 100 Fletchers, pref., 2os 3d; 200 Forest Products, 16s sd; 500 Wool worths, N.Z., 20s 10<J. Yesterday: £l7OO 3 per cent., 15/12/53-56, £9B 15s; £950 3 per cent., 15/2/55-58, £97 2s 6d; 3 « per C3nt -’ 15/6/59-60, £9B 15s; £2lOO 32 per cent., 15/5/62, £9B 10s; £4OO Auckland City Counil, 4 per cent., 15/6/64, £99: 20 Bank of New South Wales, £33 2s 6d; 125 Dominion Breweries, £5 Is 6d; 700 Auckland Gas, 10s paid, 7s 9d, and 2400, 5s paid, 3s 9d; 100 N.Z. Insurance, 765; 2116 Newton King, rights, 3s; 67 Devonport Ferry, rights, 2s 3d; 100 Bruce Wool, 495; 300 Broken Hill Proprietary, 34s 3d; 45 Colonial Sugar, £34 7s 6d; 279 Fletchers, 425, and 500 C pref., 21s; 500 Coles, rights, 9s 8d; 150 Hawkins Holding, 28s 3d; 100 McKenzies, 23s 3d; 100 Milne and Choyce, 57s 3d; 100 Philip Morz?,®, 9 * 3 ’ 300 Ross and Glendining, 375; 500 Wilson’s Cement, 15s 3d; 100 Woolworths, N.Z., 20s lOd. Unlisted: 200 Henderson and Pollard, 60s. WELLINGTON _ S*l es -~£7200 3? per cent., 1959 (2 sales), f 32 per cent * 1962 < 2 sales), £98 1 12s 6d, and £6OO, £9B 10s; 125 Dominion Breweries (2 sales), £5 Is 6d; 50 Huddart Parker, 49s 6d; 400 Newton King, rights, 3s 6d; 100 Felt and Textiles. N.Z., pr ?*-» 21s 3d; 379 Burns, Philp, rights (4 21s; 200 Whakatane Board, 23s 6d; 50 Wright, Stephenson, cum div., 455; 400 Burns, Philp, rights, 21s, and 160 rights, 21s Id; 275 Dunlop, N.Z., pref., 16s 9d; 20 Sx J, «9 oles ’ ri B h ts. Ss 8d; 200 Tasman Pulp, 275; 300 Whakatane Board, 23s 6d. DUNEDIN Sales.— loo National Bank of N.Z., 31s; 100 N.Z. Breweries, 43s 2d; 100 N.Z. Breweries (2 sales), 43s 3d; 500 Southland Frozen Meat, ord., 81s 6d; 274 Hallenstein Bros., rights, 6s. Sales Reported.—9oo National Insurance, ’ 100 Wright, Stephenson, ord., 45s 6d; 200 Ross and Glendining, 375; 738 Hallenstein Bros., rights (2 sales), 6s. OVERSEAS EXCHANGES SYDNEY

The investment market was steady on the Sydney Stock Exchange yesterday. Leading industrial stocks were irregular. Sales.—Commercial Bank of Sydney, £2O; Commercial Bank of Australia, 18s 7£d; National Bank, 12s 6d paid, 21s 4Ad: National Bank, 20s paid, 33s 10id; Tooheys', ex-dividend, 29s 9d; Tooths, 54s 6d; Associated News, pref., 19s 104 d; A.C.1., exrights, ex-dividend, 48s 6d, and rights, 18s 9d; British Tobacco, 36s 6d; Broken Hill Proprietary, 42s 3d; Colonial Sugar, £42; Courtaulds, 17s sd; Dunlop Rubber, 33s 3d; Email, 13s 6d; Felt and Textiles, 28s 3a; G. J. Coles, ex-dividend, 17s IJd, and rights, 12s Id; 1.C.1., ex-dividend, 44s 9d; New Zealand Forest, 19s 10Jd; Taubmans, 18s IJd; Wilcox, Mofflin, 5s 6d; Woolworths, 19s 7Jd; Mount Morgan, 28s 9d; New Guinea Goldfields, Is lid; Mount Lyell, 27s 3d; North Broken Hill, 98s; Ampol Petroleum, 17s 104 d; Ampol Exploration, 18s 3d; Australasian Oil Exploration, paid, 4s; Associated Freney, 2s 9d; Freney, Is 6d; Longreach, 7d; Oil Search, ex-rights, 5s Bd, and rights, 6d; N.A.U.C., 5s 3d; Rye Park, Is 4d; Uranium Development, 3s Id; Uranium Mines, ss; West Uranium, 2s sd; Huddart Parker, 61s 3d; Anthony Hordern, 36s 9d; David Jones, 59s 3d; Goldsbrough, 355; Gordon and Gotch, 20s.

Trading in the investment section was quiet, at steady prices, on the Melbourne Stock Exchange yesterday. The mining market was also subdued and prices showed little variation.. Sales.—Mount Isa, 76s 3d; N.A.U.C., 7s 6d; Uranium Development, 3s 3d; Uranium Mines. ss; Emperor, 12s 3d; Loloma, 25s 3d; Mount Morgan, pref., 14s 6d; Ampol Exploration, 19s; Oil Search, 5s sd, and rights, 6d; Goldsbrough, 35s 3d; Carlton Brewery, 19s 9d, and rights, 8s 4d; A.W.A., 21s 9d; Ampol, 17s 6d, and options, 2s sd; Associated Pulp, 30s 9d; A.C.1., 40s, and rights, 18s lid; A.P.M., 22s 6d, and pref., 19s lOd; British Tobacco, 3fls 6d; Broken Hill Proprietary, 42s 4d, and 6s 8d capital paid, 20s 6d; Dunlop, 335, and pref., 32s 9d; Electro. Zinc, pref., 44s 9d; Felt and Textiles, 28s; General Industries, rights, 10s 7d; G. J. Coles, 17s, and rights, 12s; Gordon and Gotch, 19s lOd; Herald, 20s; 1.C.1., A. and N.Z., pref., 19s 3d; Kauri Timber, 395; Myer, 14s 8d; N.Z. Forest, 19s 10d; and pref., 22s 9d; Olympic, 9s Id.

EXCHANGE RATES Altered telegraphic transfer exchange rates, as advised yesterday by the Bank of New South Wales, were:— New Zealand on: New York: Buying, 2.7808 dollars to £1 N.Z. (compared with 2.7814 dollars on August 22); selling, 2.7492 dollars (2.7499). Netherlands: Buying, 10.66 guilders to £1 N.Z. (10.68); selling, 10.41 guilders (10.42). N.Z. TAXATION RESERVE BANK FIGURES SHOW GROWTH Government taxation for the year ended March last was £234.766,000, compared with £37,798.000 in 1939. Between 1939 and 1954, local body taxation increased from £7,731,000 to £18,004,000. These figures are given in the latest bulletin of the Reserve Bank. In 1939 income taxation stood at £9,303,000. In the last financial period it jumped to £88,317,000. Over the same period customs revenue moved up from £10.650,000 to £27,969,000, sales tax from £3,556,000 to £22.621,000, racing taxation from £661,000 to £3,974,000, and beer duty from £1,077,000 to £6,208,000. POTATO SHIPMENTS In the week ended last Saturday, 30,131 sacks of potatoes were shipped from Lyttelton. For Auckland were 11,800 sacks, Wellington 7324, Napier and Gisborne IQP7, and the west coast of the North Island 9090. Shipments to Auckland from Lyttelton now total 102,691, to Wellington 43,243, Napier and Gisborne 36,628, the west coast of the North Island 58,820, and Fiji 6656. John Chambers and Son.—The company announces a final ordinary dividend of 5 per cent., making 8 per cent, for the year—an improvement of 1 per cent.—and a final 24 per cent, dividend on preference shares, making 5 per cent, for the period. Ex dividend, September 28.

DOMINION TRANSACTIONS CHRISTCHURCH Sales on ’Change Listed £ s. d. Var’n 700 Ampol (2 sales) .. 0 14 10 +ld 100 Woolworths, N.Z., ord. 1 0 6 -1/3 100 Burns, Philp, rts. .. 1 1 3 —9d Sale,s Reported, Listed £500 N.Z. Govt. 3 p.c., Stock, 1959-61 93 15 0 £900 N.Z. Govt. 32 p.c.. Stock, 15/5/62 (2 sales) 98 12 6 1240 Carlton Breweries, rights (2 sales) 0 6 3 130 National Mortgage << A.” 0 12 6 —Id 100 Wright, Stephenson, pref., c.d., late sale Friday 1 2 9 100 Huddart Parker, c.d. 2 8 9 —1/9 300 Ampol 0 14 10 4-ld 300 Hay’s, Ltd. 1 13 0 —3d 300 McKenzies, late sale Friday 1 3 6 —6d 100 Woolworths, N.Z., ord. 1 0 6 —1/3 100 Port Sweetenham Rubber 0 1 O — Sales Reported, Unlisted 100 Kaiapoi Wool, pref. 1 3 9 N.C.

CHRISTCHURCH QUOTATIONS N.Z. Government— Buyers. Sellers. £ s. d. £ s. d. 3 p.c., 15/2/55/58 .. 96 17 6 — 3 p.c., 15/4/56-59 .. — 97 5 0 3 p.c., 15/11/57-60 .. 95 12 6 — 3 p.c., 15/8/59-61 .. — 93 15 0 3 p.c., 15/4/60-62 .. — 94 10 0 3 p.c., 15/4/60-63 .. — 93 12 6 3 p.c., 15/7/62-64 .. — 92 0 0 3 p.c., 15/7/63-65 .. 91 10 0 92 0 0 31 p.c., 15/9/57-60 .. — 97 10 0 32 p.c., 15/6/59-60 .. 98 15 0 — 32 p.c., 15/5/62 98 10 0 — 32 p.c., 15/9/65 98 10 0 96 12 6 Other Debentures— Tasman, 1964 100 10 0 — Banks— Comm, of Aust. .. — 0 15 2 Natl, of A’asia, £1 — 17 6 Breweries— Ballins, ord. — 18 6 Pref. 10 6 — New Zealand 2 3 1 — Carlton, rights .. 0 6 0 0 6 6 Frozen Meat— Canterbury — 25 0 0 Pref. 7 10 0 — N.Z. Refrig., 20s .. 2 14 9 — 10s — 17 6 Nth. Canty., pf. .. 13 6 — Waitaki 12 5 0 — GasChristchurch .. 10 0 13 0 Contr. .. .. 0 15 0 0 18 6 Insurance— F.A.M.E 19 0 — Pref 19 6 — National .» .. — 18 0 Queensland .. 2 11 3 — Standard .. •• 5 0 0 — Loan and Agency— Credit and Finance — 14 0 Dalgety “A” — 0 11 0 “B” — 0 11 0 Golds., Mort .. 18 0 19 0 Mutual Benefit 1 11 0 1 12 0 Nat. Mort. “A” .. — 0 12 6 “B” — 3 16 N.Z.F. Co-op. 0 15 3 — “A” pref. 0 14 3 — “B" pref. 0 14 3 — 4J p.c. Stock, ’60 95 5 0 — Farmers' Finance .. — 13 0 N.Z. Guar. Corpn. 0 2 3 0 2 4 Perm. Invest. 13 6 — United Building — 1 0 1

Buyers. £ s. d. Sellers. £ s. d. Wright, Stephenson, c.d. — 2 5 9 Shipping— N.Z., pref. 10 5 0 — Hud., Parker, c.d. —• 2 9 3 Pref., c.d. 0 17 9 —— Northern, rights.. — 0 0 2 Timber— Rotoiti 19 0 — Putaruru, pref. .. 1 0 0 — Taupo Totara — 3 5 0 Parker Lamb 0 5 0 —- Woollens— Bruce 2 8 3 — Feltex, N.Z. 12 9 13 3 Korina Text., pref. 0 16 0 0 17 0 Lane, Walker Ind. — 2 3 0 Manawatu 3 8 9 — Tekau 14 9 15 0 Pref. —— 110 Math., Minster 0 9 0 — Timaru — 1 14 6 Miscellaneous — Alloy Steel, N.Z. 1 19 0 — Amal. Batt. 1 12 6 Ampol 0 14 6 0 15 0 Andrews and Beaven, pref. 10 6 Anisebrooks, pref. Aust. Found. Inv. 0 4 9 Avon Metal — Beath and Co., c.d. — 2 14 6 Booth, Macdonald 0 4 6 0 5 3 Brit. Tobacco, c.d. 18 9 Broken Hill Pty. 1 14 1 1 14 6 Bums, Philp • • —- Canterbury Roller Flour • • 0 15 6 — Claude Neon, N.Z. 2 7 0 — Colonial Sugar .. 34 2 6 Consol. Brick . • Coulls, Somerville 1 16 0 — Courtaulds 0 14 0 Dom. Builders 0 10 0 0 11 o Dorn. Fertiliser .. Dunlop Rubber 16 0 — Dunlop, N.Z.. pf. 0 16 6 — Hallenstein. rts. .. 0 5 6 Golden Bay , .. 1 11 0 ■— Fletcher Holdings, “C” pref. 10 6 “B” pref. 10 6 *‘C” pref. .. G. J Coles 110 0 13 9 0 14 0 Greater Crystal .. 13 0 Coles, rights 0 9 6 Hay’s, Ltd. Pref. 12 0 Humes, c.d. Humes, N.Z., pf. 119 . — - Harley 1 12 0 Pref. ■' ■ ~ A., N.Z. .. 1 15 3 1 15 9 J. Wattie Can. .. —— 1 18 0 K.P. Drugs — 7 8 0 M.C.P. 0 5 8 0 6 0 McCaskey, pref. .. —— 0 18 0 McKenzies 13 6 Midland Mot., pf. 10 0 M.K. Mfrs. 0 12 0 0 12 9 Morris Hedstrom .. 2 8 0 National Electric .. — 7 7 6 N.Z.F. Fertiliser .. 2 16 N.Z. Forest Prod. — 0 16 6 N.Z. Indust. Gas, pref. 0 19 0 N.Z. Newspapers .. — 1 16 0 N.Z. Paper Mills — 1119 Norvic Shoes 0 14 6 Reid Rubber 16 6 17 0 Pref. , • • 110 Ross and Glendining — 1 17 0 Silknit 0 12 0 Skellerup, pf. 110 —— Tasman, 15s pd. 119 Fully paid 16 9 Weeks, pref. — 12 0 Transport (Nelson) — 1 10 0 Whakatane, new, ord. 13 3 — Whit, and Tombs 1 13 6 Will. Jeffery 13 6 — Wilson’s Cement .. — 0 15 6 W’worths, ord. 0 15 6 0 15 8 N.Z., ord. 10 3 10 6 «Port Sweetenham Rubber —— 0 10 Gordon and Gotch — 0 16 3 Aust. Mining— Mount Lyell 12 0 — Mining— Arahura, c.d. 0 16 0 Grey River 0 4 0 —— Kanieri 0 9 0 0 11 6 UNLISTED STOCKS Buntings 19 0 —» Finance, Discount, pref. — 12 0 Farrier-Waimak. .. 10 6 — 10s paid 0 10 6 0 12 6 Mt. Cook Tours .. 0 9 0 — N.Z. Woolpacks .. 0 4 6 — National Tobacco — 0 14 0 Kaiapoi Wool, pf. 13 0 15 0 Tingey, R. and E. 0 9 3 Reece Ltd., E., ord. — 0 7 3 Regent Theatre 0 18 0 — St. Elmo Courts .. 0 12 0 — Sth. Island G’tee, pref. .. — 0 19 9 Southland Cement, 5s paid — 0 5 9 Vigilant Fire Alarms — 0 10 6 Weeks, Wanganui, pref. •— 12 0