NEW ZEALAND SHAREMARKET CONTINUES GENERAL SLIDE

Press, Volume CIX, Issue 32232, 26 February 1970, Page 14

NEW ZEALAND SHAREMARKET CONTINUES GENERAL SLIDE

Only 17 issues sold at higher prices in the New Zealand sharemarket yesterday, while four times as many fell. More leaders drifted than on Tuesday, and the speculative issues continued to tumble. A wide range of shares changed hands in active trading.

Southern Cross Minerals; led the speculatives down) with another 22c loss to 220 c, I while Waihi and Consolidated! Silver each fell 3c to 87c and 67c respectively. Silver rights stood out against the trend, putting on 2c to close at 56c. L and M Oil continued to trade heavily at easy prices, and ended the day 3c lower at 202 c. Beach sank 50c to 400 c, and Bounty shed another cent to 17c. On the industrial board, Allied responded to the directors’ cautionary statement

■with a 15c loss to 300 c, Mag|nus fell 10c to 140 c after the ; dividend calculation, and ! Whitcombe and Tombs traded 8c down at 200 c. Alex Harvey stood out among the leaders with another 8c fall to 460 c. and Tasi man sold another 10c down at 320 c. Brierley took a loss J again—by 15c to 405 c—and more than half of the rest of ■ ■the falls were greater than 3c. Carter Consolidated resisted the weak trend in the ' market and rose 7c to 143 c, and Beath sold 4c up at 62c.

RISES New Zealand

Overseas BHP (W) .. 1765 5 FALLS New Zealand

14 THE PRESS. THURSDAY, FEBRUARY 26. 1970. 7 ’' COMMERCIAL JVEJF ZEALAND SHAREMARKET YOUR MONEY CAN EARN Shipping Plan Ineffective, CONTINUES CENER Only 17 issues sold at higher prices in the New Zealand sharemarket yesterday, while 4L SLIDE RISES ivs IV.Z. Ketri 2. four times as many fell. More leaders drifted than on Tuesday, and the speculative issues New Zealand Price Var'n continued to tumble. A wide range of shares Alliance (D) Auck Gas (A) And Beav rts (C Autocrat (A) c. c. In the opinion of the directors of the New Zealand Refrigerating Company, Ltd, the national plan for early shipments of the Meat Producers’ Board has not produced the results expected. changed hands in active trading. Southern Cross Minerals; with a 15c loss to 300c, Mag94 1 ..115 3 16 1 150 5 Bunched arrivals in the United Kingdom are again occurring. with another 22c loss to 220c, dividend calculation, and Beath fC) 62 4 The company’s chairman In an effort to spread the by fact—"indeed, we have “This was particularly so while Waihi and Consolidated Silver each fell 3c to 87c Whitcombe and Tombs traded Sc down at 200c. Carter (A) D Brew (A) 143 7 167 1 (Mr C. S. Peate) said this kill over a longer period and noted for a number of years in relation to the light weight and 67c respectively. Silver Alex Harvey stood out BTC (A) 119 1 in his address to shareholders thus make better use of facithat consumption of lamb at carcases and we have had the rights stood out against the among the leaders with an* McSkimming (D 130 5 at the annual meeting yesterlities, exporters encouraged Christmas actually declines, unusual situation of lambs in trend, putting on 2c to close other 8c fall to 460c, and TasMarl Luc <C> 170 5 day. earlier killing by offering its place being taken by the weight range of 201b to at 56c. man sold another 10c down at M Hold (A) 103 3 Mr Peate said that one processing rebates and/or poultry, usually turkey. 361b all selling at the one L and M Oil continued to 320c. Brierley took a loss NAF new (W) . 170 2 cause might be that with New early lamb premiums in the “In my review 1 mentioned price,” he said. trade heavily at easy prices. again—by 15c to 405c—and NZ T S (A) 173 1 Zealand loading techniques, buying structure. the buyer resistance to the “With the early lamb price and ended the day 3c lower more than half of the rest of Tingey (W) 59 1 —- particularly at Timaru and For its part, the Meat high prices ruling last year. incentive and the disastrous at 202c. Beach sank 50c to the falls were greater than 3c. SOF (D> 175 5 Bluff, vessels could be loaded Board, which controlled our The result was a much larger drought in the South Island 400c, and Bounty shed anW Davies (W) 50 2 ' faster than British ports could shipping freight allocations, stock of lamb in store in Briextending from North Otago other cent to 17c. sisted the weak trend in the C Silv new (A 56 2

Allied (D) 300 15 Harvey (A) 460 8 S’Hall (W) 235 5 Bisley (A) 100 1 Baillie (W) IOS Ballins rts (C) 43 1 Broadlands (A; 104 1 Begg (W) 54 |C Brick (A) 267 3 i Fletcher (A) Hays W S (C) 215 9 130 i Pollard (A) 200 5 IC1NZ (C) 238 2 ! Wattie (W) 175 9 Wattie new (A) 165 K Prosser (A) .. 164 3 nts (A) 134 1 |LWR(C) 187 1 Magnus (W) *140 10 1 Maple (A) 130 1 ' M Spec (A) 169 1 Nat Ins (C) 460 3 ’ N Steam (A) .. 97 1 iNZ Brew (W) .. 143 1 i NZ Farm (C) .. 67 1 i Forest (A) 418 NZ I (A) 420 1 PTY (A) 235 1 ;Pye (A) 63 3 I Rothmans (W) .. 224 1 Rubber (A) 356 2 1 R Hellaby (A) .. 272 i i Sanford (A) 137 1 S’brook (A) 200 Tappenden (A) 234 i Tasman (A) 320 10 Taupo (A) 185 3 T. Nelson (W) . . 130 3 Tonka (A) 178 5 UEB (A) 168 4 nts (A) 158 4 Unit Sub (A) .. 81 9 V Blocks (C) .. 200 3 Wn Pub (W) .. 240 5 W. Tombs (C) .. 200 8 W Horton (A) .. 300 4 Winstone (A) .. 148 1 W’wths NZ (W) 102 1 C Silv (A) 67 3 L and M Oil (C) 202 3 S C Min (A) 220 jWaihi coni (A) 87 3 R Hauraki (A) .. 55 3 R Brierley (W) 405 15 Overseas CSR NZ (W) .. 790 10 Sleigh (W) 90 7 Beach P (W) .. 400 50 Bounty (C) 17 1 Hamersley <C) 1814 76 Peko .(Cl ... 4422 *Ex dividend 43