NEW ISSUE BY ODLINS

Press, Volume XCIII, Issue 27911, 7 March 1956, Page 18

NEW ISSUE BY ODLINS

COMPANY NEB’S

ONE FOR FIVE AT 10 - PREMIUM The C. and A. Odlin Timber and Hardware Company. Ltd.. Wellington, is offering 38.000 ordinary shares of . £ 1 each to existing shareholders at a premium of 10s a share, on the basis of one for every five held. The 30s purchase price of each share is payable in four instalments of 7s 6d. the l first on or before April 24. The new i shares will rank for dividend as from date of allotment as to the amounts ’ paid up from time to time on the ■ share capital. The consent of the Capital Issues Committee had also been obtained to the issue at par of 50.000 redeemable 5 per cent. 3 cumulative preference shares, participating with ordinary shareholders uo to a dividend of 6 per cent. These shares may be redeemed by the company at its option at any time after September 30, *1968. Me Skimming Industries, Ltd.—Recommended dividends are 6 per cent, ordinary and 2i per cent, final preference, ex March 27.—(PA.) Howard Smith. Ltd.—The recommended final dividend is 4 ; er cent., making 7 per cent, for the year. In addition, a bonus of 1 per cent, on the ordinary capital is recommended. Ex div. cate is April 12.—iP A.) WOOL MILLING IN CHINA ; INCREASING IMPORTS OF TOPS • With the industrialisation of China : under Communist rule, increasing im- : ports of wool tops are being made • • from the United Kingdom, according j to the Sydney woolbrokers. Winch- . combe. Carson'. Ltd. During late No- . vember and December. Chinese pur- ■ chases were 3.5 million lb. which made ■ a total of 12 million lb for 1955—a , very considerable supply. Information j, from Singapore suggests that much of s the material and clothing manus j factored from these wools will be used I in an endeavour to create a solid ex- ! port trade with other Eastern coun- - tries. ; The extremely low Chinese pro- ‘ duction costs resulting from Governs I ment subsidies is allowing China tc I compete with the Japanese materials Japan, however, is reported to be strengthening her position in Malaya and other parts of the East by means ; of improved marketing techniques and highly competitive pricing. ; SHAREMARKET INDICES Comparative indices are:— = ; London.—Financial Times: Indus, ora ; n 1936 equals 100); Govt and gold (192 :! equals 100) :

•New senes Begins tEx dividend (equals '38.1 cum div.). New York.— Dow Jones (1926 equals 100)

LONDON METALS MARKET Press Association—Copyright) LONDON. March 5.

AUCKLAND WOOL AND SHEEPSKIN SALE (Sezc Zea Land Press Association) AUCKLAND. March 6. Prices for dry sheepskins were easier ‘han those of a month ago at the Auckland auction today. Reductions ranged from id per lb for pelts up to 3Jd for hoggets. Full woolled skins realised up to 33id for halfbreds. compared with 34jd a month ago. Hide prices showed only minor fluctuations.* Auckland abattoir and countnbutchers’ sorts were slightly firmer or the average, but farmers" hides showed a general weakening. Competition for salted sheepskins was again ’restricted and prices moved un- . evenly. Pelts and three-quarter woolled skins were firmer than a fortnight ago. bui shearlings and quarter wools were weaker

Indus. ord. Govt. Goic Feb. 28 .. 1823 93.77 83/M March 31 ..1813 99 93 8 7.Sr. April 29 .. 182.7 9$.49 85. C' • May 31 .. 1973 95 30 84.41 June 30 .. 214.3 94.06 85.72 'July 29 .. £153 92 60 84.1C - August 31 .. 194 1 88.27 86 4c . Sept. 30 .. 191.0 89 72 84 68 ; October 31 .. 191.1 91 64 79.03 Nov. 30 .. 190.3 90.78 76.10 • Dec. 12 .. 198.1 90.53 *87 1 Dec. 30 .. 200.4 90.08 87.7 Jan. 4 .. 203 4 90.16 736.7 Jan. 31 .. 186.4 88.17 825 Feb. 7 .. 186.4 87.84 89 6 Feb. 14 .. 176.9 8650 90 9 Feb. 21 .. 173.5 85.51 91.9 Feb. 27 .. 178.0 87 86 90.4 Feb. 28 .. 177.9 88.15 90 6 March 1 .. 174.6 87.78 90.8 ! March 2 .. 174.7 87.78 90.1

Feb. 23 March 31 Rails. . 149.47 . 15032 Indus. 411.87 409 70 425.65 Shares sold 2,620.(MX 3,840,Jft 2_2CO.OO€ May 31 .* 15937 424.86 1.990,000 June 30 . 160.95 451.38 2.370,COC July 29 . 158 IL 46" .85 2.45*; .00C August 31 . 157.14 468.18 1.850,0ft Sept. 30 . 155.05 466.62 2.140.0ft October 31 . 149.53 454 87 1.800.000 30 . 166 65 483 26 2.900.000 Dec.' 30 . 163_2433 40 2820.000 Jan. 30 . 155.10 467.50 1.850.000 Feb. 14 . 14551 465.72 1.590.000 Feb. 21 . 159.38 481.50 2.900.000 Feb. 27 . 159.97 485.no 2.400.000 Feb. 28 . 160.07 435 • 1 2.540.000 Feb. 29 . 159.62 483.65 3.900.000 Feb. 29 . 159.62 483.65 3900.000 March 1 . 160.70 436.69 2.410.000 March 2 . 152.79 483.84 2.860.000 Marcr. 5 . 154.85 491.68 3.000.000

London metals market prices are:— Buyers Seilers £. s. c. £ s. d. Spot .. .. 805 0 0 820 0 0 Forward .. 775 0 0 780 0 Lead— Spot .. .. 122 0 0 122 5 0 Forward .. 118 10 0 118 15 Zinc— Spot .. .. 101 15 0 102 5 0 Forward .. 98 10 0 98 15 0 Copoer— Spot .. .. 425 0 0 426 0 Forward .. 412 0 0 414 0 0 Silver: Spot. 6s 7-3d per 5r.e oz.; forwara.. os 6 «“8d. Gold: £12 9s 4id per oz.