Review Of Week’s Stock Exchange Transactions

Press, Volume C, Issue 29681, 27 November 1961, Page 20

Review Of Week’s Stock Exchange Transactions

Tl-eritnd in NTmur TjwlnrU L e( . —— - ;. r >rf„t a r i raoing in iNew z«aiana snares last week was irregular with aav-to-day prices alternately firming and easing. However, taking the week as a whole, New Zealand shares were again firmer with 37 rises to 30 falls. Ovtsrseas shares prsgrssßed tHitomgh wroA, Igatur ground ever the five trading days with IS falls to only M rises. Gains among New Zealand shares spread fairly evenly fhiwuh Ha* awlaa Ikrf

through toe md«» list. Insurance lost their strong position of the week before, breweries were easier, while frozen meat held steady. There were several sharp falls, but some were shares that had not been traded for some time. Overseas shares that changed hands at higher prices were well-spread. The falls were mainly among industrials and retailers. The Sydney Stock Exchange reported during the week that prices had drifted lower, but there were signs of steadying.

Reports from London said 1 stock markets bad main- 1 tained disturbed conditions i throughout the week with ’ several factors upsetting the < position. 1 Among these were the , worsened situation in Berlin, large wage claims in the : background and uncertainty 1 about the Government’s pay 1 pause after an award to the ; electricity industry. Although losses were not numerous they outnumbered gains and tended to be lar- 1 ger in extent. Stock exchange sentiment 1 was not helped by what was ■ described as “an unmistakeable turnabout” in the pro- i duction trend ot industry re- 1 vealed in latest output fig- 1 ures published by the Trees- i urfy, i The seasonally adjusted total production index—at 1 first thought to have levelled i off in August at July's peak ■ rate Ot 125 (1954 equals 100) —was now known to have dropped back and to have j fallen a further two points , in September to 122, the re- ] port added. , Also from Landon last j week came news that more than 97 per cent, of ordinary ,j shareholders of the New Zealand Loan and Mercantile Agency Aad accepted Dalgety’s merger terms. , An extraordinary general ’ meeting was told by the • chairman of Dalgety’s (Lieu-tenant-Colonel C. P. Daw- 1 nay) that 95 per cent. of ! preference shareholders had 1 also accepted. 1 The Australia and New i

Zealand Bank announced proposals for reorganisation of its share capital. Directors said it was not at present in its most satisfactory form. The Bank of New South Wales maintained its annual improvement in consolidated net profit with an increase from £2354,302 to £2,086,520 in its latest year to September 30. Trading bank profit rose £93417 and savings bank profit £3O, MS. Two New Zealand companies announced proposals for bonus issues. The Did, Ltd, intends to make a bonus issue of two folly-paid ordinary 10s shares for every five existing ordinary shares held. Official approval is being sought. Directors at New Zealand Newspapers are recommending a one-for-two bonus that will lift paid capital by £550,000 to £1,797,000. They also propose increasing nominal capital by £1.2 million to £3 million. Hie proposals will be put to a shareholders’ meeting on December 14. Directors of Carapark Holdings, Ltd, have recommended shareholders to accept an offer by Motels of Australia, Ltd. The offer is subject to 90 per cent, acceptance by December 15. Whitcombe and Tombs, Ltd, a Christchurch booksellers and publishers, improved its position for the latest year after a drop in profit the year before.

net profit *waa Thi* year** balance abeel 1b ftttxwctivo >n<i produced and is a* easy to understand a* ft to easy to read. Gftto Lewar There was lea* demand for cnrtst«M»rcn Stock Exchange tost week. Turnover dropped to £7360 from £14.085 the week before. Yield* to maturity: 3 per cent 1966-63, £5 3» 7d per cent and £5 4s Id per cent; 3 per cent 1881-64, £5 5s IM per cent; 3 per cent 1961-64, £5 3* 9d per cent; 4J per cent 1962-63, £5 4* 6d per cent and £5 4s 8d per cent; 4i per cent 1963, £5 3s 4d per cent.; 3 per cent 1964-66, £5 2s lOd per cent.; 3f per cent. 1965, £5 2s 3d per cent., £5 2* 8d per cent, and £5 2s lid per cent Details of transactions on Christchurch Stock Exchange last week are: Government stock. £7350 (against £14,685 the week before); local body and company debentures, £l4OO (£500); preference shares, 850 (651); banks, 1800 (1010); breweries, 1928 (2200); building societies, nil (400); frozen meat, 600 (100); gas, nil (485); insurance, 1250 (1750); loan and agency, 800 (2225); woollen, 3666 (2675); Australian miscellaneous, 12,104 (18374); New Zealand miscellaneous. 19,870 (18,778); mining, SO (1125); unlisted, 225 (220); total, 42,643 (40,893).