CLOSING QUOTATIONS

Press, Volume CVIII, Issue 31584, 23 January 1968, Page 15

CLOSING QUOTATIONS

No. 1 Board

No. 2 Board

No. 3 Board

No. 4 Board

Buy Sell ABC ». 36 Air work !• • “ 160 A J White .. 185 Alex H — 270 Alliance cd . _ —— 70 Alloy — 400 A Batteries .. 154 And Bvn .. 100 108 Ash B .. 190 — A S Pat .. 85 — Ballins nts .. 71 —— Bank NSW . . 640 660 Boral .. 180 — BHP . 1645 1660 Burkes .. 60 — Burnett .. 50 «■— CPD • . 122 — Do, B t.. 105 — CFCA .. 65 — CFM cd ». 117 120 Do, new cd — 117 C Seed cd .. 135 —— Cantwell —““ 50 Do, nts • . 40 •— Chch Gas .. 65 — CSR —— 450 Coulls — 182 CS Inv .. 55 60 Crothall cb cd .. 260 — Cyclone 45 50 Deanes .. 150 —— D1C — 138 D Brew .. 150 154 D Fert — 125 D Fin .. 55 —— D Rope .. 184 — Early Bros 99 — F Tdg 85 88 F Waimak —- 140 Felts .. 54 — Felts NZ 235 Fletcher * *i 146 147 Gen Fin cd • r. _- “" 119

Buy Sell Gen Foods .« . 95 97 G J Coles — 124 Hays . « . 135 136 Do, nts . 141 —- J Rattray . 145 148 J Wattle — 170 Kaiapoi . 27 30 KPNZ D cd .. . 128 131 LWR . 108 —— L D Nathan nts 35 ** L J Hooker 61 63 Marlin — 190 Mason Strs .. — 43 McKenzie 63 M O’Brien .. — 52 Mosgiel ' 110 130 Motor Hold cd 65 •w— Mut Ben . 120 —— NMA . 80 85 NZ Brew 127 NZF Co-op . 49 — NZ Forest .„ . 220 NZ Ins cd . - __ 255 NZ Rfg cd ... . 101 103 Do, def ... 94 95 NZ Steel .« 47 NZ Sea Prd .. . 35 —» Norvic — 400 Perm Inv . 120 —* Quill Morr . 140 Rothmans — 179 R W Saunders ’ 130 __ Skeilerup —— 550 Sth Brit 344 Sth Otago ... . 140 _. Taranaki __ 82 Taupo cd 60 Tekau __ 130 Trans Nel cd 75 T and J 45 United Bldg 90 UEB 75 Do, 72 nts 62 Vlbrapac . „ •i “• 160 Waltons — 82

Buy Sell Westland 450 W Tombs 148 150 W and Horton 140 W/W NZ nts M 98 W R Carpen 300 W Steph ~ 107 MINING— Ampol Expl .. .. 185 Kaniere .. 95 __ Mt Isa .. 485 — NZ Petlm .. 185 JOO Nth BH .. 775 —— RTZ .. 900

Arnold and Wright — 140 AMI nts —•_ 90 Broadlands 04 70 Bros Diet , ■. 70 C Boll cd 120 Dental and It — 190 Slant 55 G Bowren 128 —- Harley and Co —_ 125 H Berry —— 120 J Niven —— 140 John Burna 180 190 Kearns —> 160 Morrison — 230 Mt Cook 165 — NZ Express 150 — NZ I Gas 210 — N Steam 74 — ODT 120 —— Prop Seo — 80 Bex Av 100 Bheem 130 S A Smith — 105 BTS 35 S Cement « 70 —— Sth Cross Htl 38

Buy Sell Truth "S'TH ■V- — 140 Thiess 480 — V’pac Wn nts 165 Wilk Dav 65 Wil C W — 150 DEBENTURES— NZF 5f pc ’70 93,00 Wright Steph Si pc I 31/8/70 — 101.25 Dom Fin 7 pc 30/11/75 —— 99.00 NOM CON NOTES— NZRFG 7 pc 31/10/73 97.50 100.00 Vibrapac 7 pc 31/3/75 95.00 98.00

mmTFRCTAT WAITAKI F.F. PROGRESS Good Season So Far The Waitaki Farmers’ Freezing Company, Ltd, Pukeuri, so far had had a very good season, said the chairman (Mr D. Malcolm) at the annual meeting. The whole meat market in the United Kingdom had been very buoyant over the last two months for exceptional reasons. The number of sheep and lambs processed rose 43,425 to December 31. Unfortunately drought in a large proportion of the operating area had further affected the quality of the stock. The average weight of lambs so far was 28.16ib with 23.70 per cent f.a.q. against 29.121b and 15.87 per cent f.a.q. last year. There were some direct immediate capital gains to the company with devaluation, said Mr Malcolm. As well, the share market responded and when the stock exchanges closed last year the company’s share portfolio rose $32,729 to $986,000 in value on that at the balance-date of October 1. The cost price of the portfolio was $839,514. Earning Capacity Devaluation had only a minor upward effect on the earning capacity of the company, said Mr Malcolm. The farmer was the direct beneficiary. Large Contra HamersL (N.Z. Preu Association—Copyrigh SYD> Hamersley Iron Proprietary, Ltd, 1 another 10m tons of ore—worth $45m—to now has contracts with Japan worth almost The new contract is for low-grade ore— ore with an iron content around 55 per cent compared with more than 63 per cent for high-grade ore. It is the second contract concluded by Hamersley since the relaxation of the Federal Government’s guidelines on iron-ore prices last August. id For ey t) EY, January 22. ias contracted to sell Japan. The company 51100m. Dampier, on the north-west coast of Western Australia, was at the teething stage and export of pellets would begin in a few months. Hamersley now has contracts to supply 137.4m tons of iron ore and pellets to Japan over periods ranging up to 1983. Other Contracts The company also has contracts to supply 875,000 tons to Steel Company of Wales, 495,000 tons to Siderurgie Maritime S.A. of Belgium, and about 500,000 tons to test buyers in Belgium, France, West Germany and Italy. Under the Japanese contracts—including the one announced last night—Hamersley will be shipping about 12,800,000 tons of ore to Japan each year by 1972. Prospectus estimates of profit were based on annual shipments of 10m tons by 1972. X . 1 t ||C f f MR J. D. HENDRY, who has been appointed manager of Woolworths (N.Z.), Ltd, as from the end of this, month. He succeeds Mr J. N. Laurenson, who will continue as a director. Hamersley Iron, operating company for the publicly listed Hamersley Holdings, Ltd, is the biggest Australian supplier of iron ore to Japan. The ore in the new coirtract has been sold to Kobe Steel, Ltd, and will be suitable for blending with other ores to serve as feed for Kobe’s pellet plants. Shipments are planned to begin in the second half of 1970 and will be at an average annual rate of 800,000 tons. This is the largest single purchase of raw material made by any of the Japanese mills. Contract Appreciated The chairman of Hamersley (Sir Maurice Mawby) said this was the company’s second contract for supply of lowgrade ore to Japan. An earlier contract for supply of 5m tons over 10 years began last April. “Kobe will blend the ore with supplies obtained from other countries to make feed for its pellet plant,” Sir Maurice Mawby said. “The contract is one we appreciate because it involves ore which otherwise would be dumped until we could convert it into pellets.” Pellet Plant He said the price of the ore in the new contract was about the same as that contained in the earlier deal covering low-grade ore. Sir Maurice Mawby said the company’s 2m tons annual capacity pellet plant at J J J J J J J J INDICES London.—Financial Times. 1968 Indust. Govt Gold an. 17 .. 394.4 76.37 68.0 an. 18 .. 402.0 76.10 68.6 an. 19 .. 404.3 75.98 68.7 New York.—Dow Jones. 1968 Rails Indust. Sold an. 17 233.24 883.78 12,910,000 an. 18 233.84 882.80 13,840.000 an. 19 233.32 880.32 11,950,000 Sydney.— 1968 Retail Ord. All-ord an. 18 335.24 382.86 457.94 an. 19 .. 334.94 381.16 454.93 an. 22 - - 335.64 384.63 460.0? METALS I Newspapers Discuss Prospects Of W.M.C. (N.Z.P.A.-Reuter—Copyright) MELBOURNE, January 23 The chairman of Metals Exploration N.L. (Mr Reginald Hare) on Saturday refused to comment on reports that a major new nickel industry may be established in north-west Queensland. Mr Hare told Reuter In reply to questions that a statement on prospecting operations on a lease held by the company at Greenvale, near Ingham, 1056 miles north-west of Brisbane, would be made In the near future. He would make no comment on reports from Queensland Government sources that reBOOST FOR I.C.I.A.N.Z. Tariff Helps Plastics fNZ. Press Assn.—Copyright) SYDNEY, Jan. 22. Most major plastics products from the petro-chemical complexes of I.C.I.A.N.Z. at Botany and B. F. GoodrichC.S.R. at Altona are showing a sharp rise in production now that imports are at relatively stable levels as a result of tariff protection, the "Australian Financial Review” reported today. This was one of the purposes of the support value protection and high tariff levels award products such as polyethylene and P. V. C., the paper said. Prices May Fall However, it was expected that, as production rose, costs, and then prices, would fall. Of course, in new plant installations, such as the I.C.IA.N.Z. ehtylene cracker, there is still considerable spare capacity, the Review said. One of the most noticeable rises in production has been in P. V. C, but polyethylene and other products have also moved ahead. (N The financial edit “Sydney Morning Hera annual income from nic and §45m respectively, agreement The “Sydney Morning Herald” financial editor said: “Western Mining’s confirmation of rumours that originated in London last week Is phrased in minimal quantitative terms. “. . . the company’s promise to have completed by 1971 a nickel refinery with a capacity of not less than 15,000 tons of refined nickel per year does not preclude a bigger capacity." The financial editor of the “Herald,” adding up Western Mining’s expected Kwinana refinery production, including a 40,000-ton nickel metal contract over 10 years to Sumitomo of Japan and 700 tons to Canada, concluded that the annual output would be 20,000 tons a year valued at $40m on present prices. Price Pegged He warned against the “unreality” of the present free world price of nickel, which is twice that of the producer’s pegged price, at present about $1930 a ton But he said that Western Mining could reasonably conclude that its opportunities would be better the sooner it had placed itself in the world Z. Press Association—Copyright SY ore of the two Sydney in Id” and the “Daily Tel cel for the Western Mini based on a company stai league as a finished metal producer. The “Daily Telegraph” financial editor said that: “Provided, as seems likely, the world price of nickel sticks around $2000 a ton, the company will have a cash flow of $40m a year from its nickel by 1971.” He suggested that the expenditure of $45m (for refinery and housing costs) appeared to mean a considerably larger capacity than the 15,000 tons a year suggested in the report. Larger Reserves He also suggested that the company figure of 4.4m tons of ore reserves were probably more likely to be of the order of 10m tons at Kambalda, with further exploration under Lake Lefroy in the very early stages. The present annual production rate of around 120,000 tons of ore is expected to be about quadrupled by the demands of the nickel refinery. New Process The company will probably use the refining process perfected by the Canadian company, Sherritt Gordon, which is refining about 700 tons of metal a year from concentrates already being produced at Kambalda by W.M.C. This process would make W.M.C. automatically a producer of ammonium sulphate, a nitrogenous fertiliser not now produced in Western Australia, and would also separate copper from the ore which could be sold in concentrates. W.M.C. will continue to investigate the feasibility of a smelter at Kambalda or Kaigoorlie and establish one if feasible, but this is understood to be a long time away. The company is not committed to build a smelter. Royalty Yield The Premier of Western Australia (Mr David Brand) said yesterday: “This is one of the most exciting stages in our mining history.” The State of Western Australia will receive royalties of 2 per cent of the value of the contained nickel for the first five years under the agreement, Mr Brand said today that he expected these royalties would yield the Government more than $2.5m. W.M.C. has not said how its refined metal will be sold, DNEY, January 20. orning newspapers—the egraph”—estimated the ng Corporation at $40m ement after the formal but Mr Brand’s estimate of the royalties appears to be calculated from the producers’ price. W.M.C. is Australia-owned and managed, although about 20 per cent of its 11.2m shares are now owned in Britain — including the 10 per cent holding by Selection Trust. W.M.C. also has a 20 per cent interest in the Alcoa of Australia aluminium group (which has an alumina plant at Kwinana), a half-interest in an iron ore project in Wesern Australia, and substantial holdings in gold producers Gold Mines of Kalgoorlie and Central Norseman. Norseman Gold (N.Z. Press Assn.—Copyright) ADELAIDE, Jan. 22. Norseman Gold Mines NL In 1966-67 preserved most of the previous year’s profit im pravement. The full accounts showei that after the profit leap of $16,329 to $72,351 in the year to October 31, 1966, there was a reduction in the latest year of only $3311, of 4.6. per cent to $69,040. OVERSEAS SYDNEY Mining stocks dominated trading on the exchange yesterday. Nickel stocks were particularly active with Western Mining and Metals Exploration standing out. This came after renewed interest In nickel stocks in London on Friday. Metals Exploration rose 180c to 580c. The company stated that the results of a drilling programme are being assessed and a report will be released on Thursday. Earlier announcements indicated 35m to 50m tons of nickel bearing laterite. The recently completed programme was aimed at confirming the nickel grade within this already outlined deposit. Western Mining Corporation continued to gain ground with the shares gaining 100c to a new peak of 3900c. After an announcement of a new iron ore contract, Hamersley Holding gained 70c to 900c. Great Boulder Gold Mines rights rose 70c to 420c. In the investment section B.H.P. stood out with a 40c gain to 1685c. Sales.—B.H. South, 560; Cleveland Tin. 133; Cons. Gold, 674; Cons. Rutile, 152; C.R.A., 1170; Emperor, 65; Hamersley, 900; Kathleen Inv., 560; Mt Isa, 490; Mt Morgan, 910; New B.H., 940; N.A.U.C., 83; Qld Mines, 430; Western Mining, 3900; Allo Dev., 42; Ampol Expl., 193; A.O.G., 205; Ex Oil, 33; Longreach, 65; Mdd East, 64; Planet, 46; Woodside, 180; Ampl. Pet., 95; Ansett, 61; A.W.A., 209; Ass. Securities, 187; A.C. Ind., 310; A.G. Corp., 181; A.N.I., 29; Bank N.S.W., 672; Berlei, 250; Big Sister, 255; Blue Metal, 158; Boral, 182; Borg Warner, 170; Bramble, 120; British Tobacco, 288; B.H.P., 1685; Burns Philp, 350; Carpenter, 196; Chem. Materials, 110; Clyde, 74; Coles, 125; C.S.R., 455; C.A.G.A., 165; Com. of Syd., 300; C.B.A. x.d., 290; C.I.G., 300; Concrete Ind., 38; Courtaulds, 52; Custom Credit, 111; E.M.I., 305; E.Z. Inds., 350; Email, 68; Fairfax, 230; Feltex, 48; Hanimex, 100; Hardie, J., 385; Healing, A. G., 17; Hooker, L. J., 61; Hordern, A., 54; Jones, D.» 117; L.N.C., TRADING 64; Lend Lease, 100; Lifesavers 222; Lysaght, 325; McPhersons 255; Marrickville, 87; Mauri 200; Miller, R. W., 124: Newbold 110; News, 280; Nutt anc Muddle, 39; Olims, 90; Paynter Dickson, 194; Peko W., 908, and opts., 610; Penfold, 360; Petro chemical, 52; Pioneer Concr. 140: Pioneer Sugar, 175; Protector, 202; Provincial, 102; Pub lishers, 180; Qld Ins., 550; Roth mans, 217; Sleigh, 69; Taub mans, 90; Thiess, 492; Tooheys 116; Tooth, 580; Union Carbide 585; Waltons, 81; Woolworths 118. MELBOURNE Solid gains covered the full list of minings. Nickel issues led, Western Mining moving 150c higher to 3900c and metals exploration up 180c to 570c after touching 590c. Oils were firm. Industrials were firm, B.H.P. up 35c to 1685c, E.Z. Industries up 13c to 355c. Most other moves were moderate. Peko dropped 16c to 904c. Sales—Ampol, 95; Ansett, 6.1; A.R.C., 85; Assoc. Pulp, 135; A.C.I., 310; A-K. Cement, 120; A.P.M., 141; Bank N.S.W., 670; Boral, 180; B.H.P., 1685; Brollte, 115; Carlton, 425; C.U.B.Z., 360; Carrier, 80; Coles, 124; C. Sugar, 453; C.B.A. xd., 290; Com. Union, 162; Containers, 223; Cox Bros, 1; Cyclone, 127; Davies Co*op., 37; Dunlop, 190; Email, 67; E.S.A. Bank. 720; E.Z. Inds, 355; Factors, 19; Feltex, 52; Gollin, 72; Gordon Gotch, 175; Herald, 530; Hooker, 61; Humes, 348; I.C.I.A.N.Z., 200; Jennings, 203; Jones H., 255; Kauri, 18; Mayne Nickless, 298; Mcllwrth J., 103; McPhersons, 253; Minster, 115; Morris P., 445; Myer, 463; Myttons, 113; Nat. Bank, 315; Nat. Consol., 230; Nylex, 95; Olympic, 83; Overseas Corp., 172; Petersville, 36; Repco, 235; Rocla, 168; S.A. Rubber, 80; Sleigh, 67; Smith H., 340; Swan Brew., 340; Yarra, 123; Aberfoyle, 239; B.H. South, 560; C. Norseman, 330; Cons. Gold, 676; C.R.A., 1170; Gt. Boulder, 790: Hamersley, 880: Loloma, 325; Magellan, 225; Metals Exp., 570; Mt laa, 487; Mt Lyell, 185; Mt Morgan, 910; New B.H., 950; North B.H., 790; Oil Search, 57; West Mining, 3900; West Titanium, 345. A.P.M. PRO (N.Z. Press Assn. —Copyright) MELBOURNE, Jan. 22. Australian Paper Manufacturers, Ltd, has declared an unchanged interim dividend of 3} per cent, payable on April 30. The profit for the half-year was $5,337,083 compared with $3,886,303 in 1966, a rise of FIT JUMPS $1,450,780, or 37.4 per cent. The amount required for the dividend is $2,250,500. Net sales totalled $46,918,295, a rise of $1,942,251. For A.P.M. and its subsidiaries net sales totalled $47,431,908, an increase of, $2,049,847 on the same period in 1966. Sales of paper and papers board for the six months were 217,784 tons compared with 211,537 for the same period in 1966—an increase of 6247 tons or 3 per cent U.S. Exchanges (W.Z.P.A.-Beuter—Copyright) NEW YORK, Jan. 22. The New York Stock Exchange and the American Stock Evchange closed from 2 p.m. (local time) on Monday, until further notice, because of unprecedented heavy trading, the exchanges announced. DIVIDEND Canterbury Roller Flour Milla Company, Ltd, Ashburton Annual 8 p.c., payable after March 28. (Steady.) DALE CARNEGIE COURSE INTRODUCTORY MEETING WED, 24th JAN., AT 7.45 p.m. TE KURA LOUNGE, BEALEY AVE, CITY. — NZ NATIONAL CREDITMEN’S ASSN. LTD. 176 HEREFORD ST. N±'$ LARGEST AND OLDEST CREDIT INQUIRY AND DEBT COLLECTION ORGANISATION. No Mrtranca »oa lot collodions Ns etarn fit tracing addresses. Charge audo to obtain Credit Raparii. Phone 60-375. CHRISTCHURCH. CLOSING QUOTATIONS No. 1 Board Buy Sell ABC 36 — Airwork ». — 160 A J White .. ..185 — Alex H .. — 270 Alliance cd ... .. — 70 Alloy .. .. — 400 A Batteries .. ..154 — And Bvn .. 100 108 Ash B ..190 — A S Pat 85 * — Ballins nts .. ..71 — Bank NSW .. . 640 660 Boral .. 180 — BHP - 1645 1660 Burkes .. ..60 — Burnett .. .. 50 — CPD ... 122 — Do, B >.| i,. 105 — CFCA .. .. 65 — CFM cd H7 120 Do, new cd — 117 C Seed cd .. ..135 — Cantwell . < — W Do, nts ... «. 40 — Chch Gas .. .. 65 — CSR .. — 450 Coulls - - — 182 CS Inv .. 55 60 Crothall cb cd 260 — Gen Foods .« G J Coles Hays .« Do, nts .. J Rattray J Wattle Kaiapoi KPNZ D cd .. LWR L D Nathan nts L J Hooker Marlin Mason Strs .. McKenzie M O’Brien .. Mosgiel Motor Hold cd Mut Ben NMA NZ Brew NZF Co-op . NZ Forest .„ NZ Ins cd .m NZ Rfg cd ... Do, def ... NZ Steel . m NZ Sea Prd .. Norvic Perm Inv Quill Morr Rothmans Buy Sell 95 97 — 124 135 136 . 141 — . 145 148 . —- 170 . 27 30 . 128 131 . 108 — 35 — 61 63 — 190 . — 43 . — 63 — 52 . 110 130 65 — . 120 — . 80 85 — 127 . 49 — . 220 — — 255 . 101 103 94 95 . — 47 . 35 — — 400 . 120 — . 140 — — 179 „ Buy Sell Westland ... ». — 450 W Tombs ..148 150 W and Horton .. — 140 W/W NZ nts .. M 08 W R Carpen .. — 100 W Steph .. ... — 107 MINING— Ampol Expl .. ..185 — Kaniere .. .. 95 — Mt Isa .. .. 485 — NZ Petlm . 185 300 Nth BH .. 775 — RTZ 900 — No. 2 Board Arnold and Wright — 140 AMI nts .. — M Broadlands ..84 70 Bros Dist ,<«««— TO C Boll cd .. 130 — Dental and M — 100 Giant ,. ..55 — G Bowren .. 128 — Harley and Co .. — 125 H Berry .. — 120 J Niven ... .. — 140 John Burns ... ►. 180 190 Buy Sell Truth VW, r . — 140 Thiesa .. 480 — V’pac Wn nta — 165 Wilk Dav ... — 65 Wil C W — 150 DEBENTURES— NZF 5f pc ’70 .. 93»00 — Wright Steph 61 pc ' 31/8/70 — 101.25 Dom Fin 7 pc 30/11/75 — 99.00 NON CON NOTES— NZRFG 7 pc 31/10/73 . 97.50 100.00 Vibrapac 7 pc 31/3/75 .. 95.00 98.00 No. 3 Board PREF— And Bvn — 90 Hays .. — 140 LWR .. .. — 150 NZ Forest .. ... — 85 N Canty .. 168 — Skellp ... .. — 77 Tekau .. .. — 140 USS .. — 160 uavi V*JZ • MIGHT REDUCING & il INESS COURStS • HAND MASSAGE • TILE STEAM ROOM • FINNISH SAUNA ROOM of MASSAGE* sieamasauha, biw 25“ ON A CASUAL BASIS

UNLISTED—* A Yates 150 Booth Maa .. 15 20 Carb Ice 320 C Press 190 Don 100 E Beeca 60 H C Urlwla .« 125 Temuka F 200 T J Edmonda K a 320