SKELLERUP, TASMAN PRICES UP

Press, Volume CIX, Issue 32114, 9 October 1969, Page 20

SKELLERUP, TASMAN PRICES UP

Skellerup Industries and Tasman Pulp were the outstanding stocks on the New Zealand sharemarket yesterday, both taking sharp gains on top of strong upward trends in the last week. Most leading issues were steady or better in a moderate market on which rises just headed falls.

Skellerup added 20c yesterday to touch 1000 c at the close. The issue moved up to 950 c in August, elid back towards 930 e in mid-September, and has since been rising steadily, with sharp gains in the last three days. Yesterday’s price is the highest ever. Tasman’s spurt was even sharper—soc to 1420 c, after climbing steadily from 1070 c in July to 1170 c in mid-Sep-tember and to 1240 c last week. The shares have added 180 c since the market opened on Monday. N.Z. Forest firmed yesterday, and the rights put on 5c to trade at 125 c again.

Southland Frozen Meat sold 3c up at 183 c, but the rights fell 4c to 60c. Canterbury Frozen Meat lost 2c in Auck-

land, where the unlisted R. and W. Hellaby added 6c to dose at 290 c. Other meats were steady, and insurances showed little change, South British firming and N.Z.I. easing 2c to 428 c. Apart from Skellerup and Tasman, the strong stocks in yesterday’s trading were J. Rattray, which put on 20c to 220 c, a gain of 50c in the last fortnight, and Henderson and Pollard, which jumped 12c to 190 c.

Hay’s-Wright Stephenson, Maple and M.S.D. Spiers were popular, each adding sc, and R. A. Brierley rights sold 6c up at 36c. Baillie Motors rights fell 4c to 18c, and other weak issues included Fletcher, down 3c to 200 c, Williamson Jeffery,

down 5c to 405 c, and Mount Cook, which fell a further 3c to 195 c. Overseas shares slid further Peko losing 60c, Western Min-

t ing 35c, C.S.R. Australia 30c, c Mount Lyell 15c and B.H.P. 10c to 1600 c. B.N.S.W. (N.Z.) r rose 30c to 835 c, however, and i-1 Bounty Oil firmed jc to Bc.