SHAREMARKET INDICES

Press, Volume XCV, Issue 28223, 11 March 1957, Page 13

SHAREMARKET INDICES

London.—Financial Times: Indus, ord (1935 equals 100); Govt., 1926 equals 100; gold, 1955, equals 100. Indust. ord. Govt. Gold.

COMPANY NEWS Matson Line’s Profit.—Matson Navigation Company, which established a luxury liner service to Australia and New Zealand last year, reports a net profit of 4,986,541 dollars after taxes for 1956.—(P.A.) United Building Society.—A final dividend of 3 per cent., making 5J per cent, (unchanged) for the year, is payable on April I—ex March 20. Taranaki Brewery.—Taranaki Brewery and Cordials, Ltd., advises that the proposed terms of the £32,000 issue are: 10s on application by May 20, a premium call of 5s not before November 20, and a final call of 10s not earlier than six months from the premium call.—(P.A.) B.H.P. Dividend.—A half-yearly dividend of Is (Aust.) a share, payable on May 29, ex March 23, has been declared. With the interim dividend of Is paid in November, payment for the year totals 2s, maintaining last year’s higher 10 per cent. rate.—(P.A.) ST. ANDREWS STOCK SALE "The Press” Special Service TIMARU, March 7. Eighty-five head of fat cattle met a keen demand today from local butchers, with values at least equal to the recent increased rates. Although at times the inquiry for store sheep was not very keen, the bulk of the offering changed hands at auction. Values were:— Prime steers, £3O to £33 7s 6d; medium steers, £23 2s 6d to £27 7s 6d; light steers, £l2 7s 6d to £lB 19s 6d; prime heifers, £2l 2s 6d to £25 2s 6d; light to medium heifers, £l4 2s 6d to £l9 7s 6d; prime cows. £l5 2s 6d to £lB 12s 6d; light to medium cows, £lO 2s 6d to £l2 7s 6d; fat ewes, 38s Id to 44s Id; ewe lambs, 56s to 645; wether lambs, to 555; full-mouth ewes, 38s to 47s 6d; rape ewes, 18s to 28s; medium wether lambs, 24s to 33s 6d. LONDON WOOL FUTURES (N.Z. Press Association—Copyright) LONDON, March 7 London wool terminal market quotations today were:— Buyers Sellers

average, 152 d per lb; 64’s average, 144 d; 60's super, 133 d. Crossbreds: 56's av. carded. 108 d per lb; 50’s av. carded, 92d; 46’s av. carded, 89d. U.S. DAIRY PRICE SUPPORT SCHEME Price support activity in dairy products continued at a high level during 1956. Figures released by the United States Department of Agriculture, show that purchases totalled 73,500 tons of butter, 83,900 tons of cheese and 336,700 tons of nonfat dried milk. Disposals of butter totalled 100,400 tons, cheese 135,000 tons and non-fat dried milk 330,600 tons. Stocks held by the Commodity Credit Corporation as at December 31, 1956, were 65,200 tons of cheese and 14,100 tons of non-fat dried milk solids. There were no stocks of butter. Fiji Copra Prices.—The Fiji Copra Board has announced that as from March 1 the local buying prices of copra at Suva and Levuka will be £5O a ton for F.M.S. grade, and £5O 5s 6d a ton for plantation grade, pending final agreement with the British Ministry of Food for 1957 prices. So far this year the board has been able to pay 1956 prices out of its accumulated funds, which, however, are now nearly exhausted. The board was therefore forced to reduce the price to the minimum possible under the agreement. If through negotiations the full 10 per cent, reduction can be avoided, an upward adjustment will be made later this year. Canadian Investment Plans.— According to Government officials, Canada’s plans for capital investment this year are likely to reach a record figure of 8.530 m dollars (£3183m), or 8 per cent, above the estimated total investment in 1956. Included in these figures are expenditures on new factories, offices, houses, public buildings and other structures, and the installation of new machines and equipment. Estimated capital investment in 1956 amounted to some 8000 m dollars, but because of the credit shortage and other causes the entire programme was not completed. The shortfall, however, is believed to have been no more than 100 m dollars.

Sharemarket Indices are:— New York.—Dow Jones. Shares Rails. Indus. Sold. Nov. 30 .. 151.02 472.78 2,30U,000 Dec. 28 .. 193.56 496.41 2,790.000 Jan. 31 .. 148.79 479.12 1,920,000 Feb. 20 .. 142.74 469.00 1.670.000 Feb. 21 .. 142.22 466.93 1,680,000 Feb. 22 .. Market closed. Feb. 25 .. 141.26 460.90 1,710,000 Feb. 26 .. 140.93 467.72 1,580,000 Feb. 27 .. 141.04 266.26 1,620.000 March 1 .. 142.42 468.91 1,700,000 March 4 .. 143.05 471.48 1,890,000 March 5 .. 144.14 472.88 1,860,000 March 6 .. 143.32 474.87 1,840,000 March 7 .. 143.27 474.17 1,830,000

Oct. 31 .. 175.1 84.10 72.7 Nov. 30 .. 163.5 82.38 71.1 Dec. 31 .. 178.3 84.74 78.7 Jan. 31 .. 187.4 89.41 74.4 Feb. 18 .. 185.6 88.47 73.6 Feb. 19 .. 185.8 88.45 73.4 Feb. 20 .. 185.8 88.29 72.6 Feb. 21 .. 186.2 88.06 72.4 Feb. 22 .. 186.5 88.27 72.3 Feb. 25 .. 186.5 88.35 71.8 Feb. 26 .. 187.1 88.65 71.8 Feb. 28 .. 188.7 88.88 73.0 ■March 1 .. 189.3 89.06 73.0 March 4 .. 189.3 89,06 72.2 March 5 .. 190.0 88.88 72.2 March 6 .. -189.8 88.45 73.0 Sydney.—Morning Herald (1934 equals 100) SilverBanks Retail Indus. Lead Jan. 31 190.36 248.95 191.51 631.46 Feb. 25 186.52 253.28 193.25 651.15 Feb. 26 185.74 254.23 194.19 647.65 Feb. 27 187.01 253.77 194.8 645.43 Feb. 28 186.51 253.77 193.7 645.43 March 1 186.54 254.99 193.57 641.14 March 4 186.61 253.91 192.60 641.14 March 5 186.21 254.10 192.53 634.47 March 6 186.11 254.10 192.51 619.25 March 7 186.11 254.17 192.77 607.80

d per lb d per lb March .. 140 140J July .. 132J 133 October .. 129 1291 December .. 1262 127 Bradford Wool Tops.—Merinos: 70’s