SHARE MARKET

Evening Star, Issue 26087, 29 April 1947, Page 6

SHARE MARKET

MOUNT LYELLS ADVANCE BANK OF NEW SOUTN WALES UP More attention was paid to Australian leaders on the Dunedin Exchange this morning, and buyers advanced limits where business could be effected. Bank of New South Wales was marked up 5s to £4l ss, and Lyelis advanced to 27s 6d. The right to the new issue of Woolworths Ltd. firmed to 19s-19s 6d. Selected quotations are as follows:

SALES ON ’CHANGE: THIS DAY. Dunedin. —Sales reported, late yesterday: U.S.S. Co. (preE.), 34s (300); ‘Otago Daily Times,’ 57s 6d (100). This morning: Bank of New South Wales, £4l 5s (10). On ’Change: Mount Lyell, 27s 6d (100).' Auckland.—New Zealand Loan and Mercantile (ord.), £128; Leyland O’Brien, 265; Aluminium Utensils (prcf.), 41s 6d; fierlei Ltd (rights), 14s 6d; Colonial Sugar, £56 15s; Northern Roller Milling (ord.), 30s 6d; Mount Morgan, 9s. Noon call: National Bank of New Zealand, 78s 6d; Newton King (pref.), 26s 6d; Felt, Textiles, Australia, 625; Consolidated Brick, 16s 3d; Northern Roller (ord.), 30s 6d; Woolworths Sydney (rights). 19s 2d; G. J. Coles, 965; 3 per cent. Slock, 1953-56, £IOO 12s 6d. Wellington.—3 per cent. Stock, 1953-56, £101; National Bank of New Zealand, 78s 3d; Woolworths Limited (rights), 19s Id; Mount Lyeil, 27s 3d. Reported: Woolworths Limited (ex rights), 25s 6d; Martha Gold Mines; 6s sd; Mount, Morgan, 8s 9d. Christchurch.—3 per cent. Stock; 1953-56, £lOl 2s 6d; Union Bank, £l3 10s; United Building, 24s 6d; Beaths. 475; Broken Hill Proprietary, 525; Colonial Sugar, £56 10s. Reported: Coles, 96s 6d and 96s 3d; Blackwater, 10s. WOOL STOCKS. (P.A.) WELLINGTON, April 28. A reduction in the accumulated wool stocks is shown in the latest returns available, wlhich were released to-day by the New Zealand Wool Disposal Commission on behalf of the Joint Organisation in London, representing the United Kingdom, Australian, Soutlh African, and New Zealand Governments. At the end of last June stocks amounted to 5,786,700 bales, but by the end of January this year stocks stood at 5,018,400 bales, a reduction' of 768,300. Stocks of New Zealand wool on June 30 amounted to 1,425,200 bales; 935,900 bales of this were located in New Zealand and the ■ remaining 489,300 bales were in the United Kingdom and the United States. Stocks of wool at the end of next June are estimated at between 4,357,000 and 4 387,000 bales. The estimate of New Zealand stocks at that date is given at 1,052.000 bales. DIVIDENDS DECLARED. The National Insurance Company of New Zealand Ltd. has declared an interim dividend of 4d a share for the half-year ended March 31. It will be payable op May 20. The rate is unchanged. The Tui Brewery Company has announced a dividend of 3| per cent., not 2£ per cent, as previously announced. BANK’S SHARE .STRUCTURE. Shareholders of the National Bank of Australasia Ltd., Melbourne, have agreed to subdivide the shares and to amend the ‘bank’s articles. Each £lO fully-paid share will be split into 10 shares of £1 each, and each £8 share, paid to £5, will be split into-eight £1 shares, paid to 12s oa. The issue of new share certificates will commence on May 29. The chairman, Mr H. D. Giddy, said it was felt that the division of the shares into units of smaller denomination was in line with the spread and extension of democratic principles in the structure and conduct of private enterprise. The articles will be amended to provide that each shareholder will have at least one vote, no matter how few shares he holds. There will be one vote for any number o £1 shares up to 80. Thereafter there will be one additional vote for every 80 £1 shares held, up to a maximum of 100 votes. Previously a holding of at least 10 shares of old denomination was required to quality for one vote. , The changes in share structure were made in terms of the proposed merger with the Queensland National Bank Ltd. LONDON WOOL SALES. Murray, Roberts, and Co. Ltd. have received the following cable from their London agents:—“ Sales continue, competition keen. Greasy merino: Greasy best descriptions advanced 2$ to 5 per cent. Greasy other descriptions show no material change. Cross-bred greasy, coarse to medium, par to 5 per cent, decline.”

Buyer*. Seller*. £ *. . d. £ *. d. Banking— n.s.w ... 41 0 0 41 15 0 Commercial 1 2 10 — National N.Z. 3 17 9 — Union 13 5 0 — Insurance — National 1 9 0 1 10 0 New Zeaalnd 5 2 6 — Standard 4 15 3 4 16 0 Shipping— Howard Smith ... 1 4 6 1 6 0 H’t. Parker (ord.) 1 11 6 — P. and 0 4 13 0 5 0 0 MeatN.Z. Refrig. - (Dd.) 1 18 3 — N.Z. Refrig (coni.) 0 18 0 0 18 4 Southland Froz. (ord.) 3 6 0 3 7 9 ' Waitaki 8 2 6 8 12 6 Agency— Golds., Mort 1 18 0 1 19 6 L. and M. (ord.) 128 0 0 — Breweries— Ballins 1 16 0 1 17 9 New Zealand 2 18 3 2 19 6 Dominion 3 10 0 — Dunedin 1 • 1 17 6 — Coal— Kaitangata 1 3 9 1 5 0 Westport 1 12 0 1 13 0 Miscellaneous— A.F. Co 0 5 9 . 0 6 3 British Tobacco ... 2 15 0 2 17 0 B.H.P. ... 2 11 6 — Consol. Brick • ... 0 16 3 — D.I.C. (ord.) ... 1 9 6 — D.I.C. (pret.) ... 1 10 0 1 12 6 Dom. Fertiliser ... 1 9 0 ’ 1 10 0 Dunlop, N.Z. (ord.) 0 10 3 0 11 0 Dunlop, N.Z. (pref.; 1 0 11 7 0 11 11 Felt., Text., N.Z. 3 0 0 3 2 0 G. J. Coles 4 16 0 4 17 0 Macduffs (ord.) ... 1 17 0 1 18 0 N.Z. Paper Mills 2 6 6 2 8 0 ‘ O.D.T.’ 2 17 9 2 18 3 Regent Theatre ... 1 3 0 — Wilsons Cement 0 19 0 — Woolworths N.Z. 1 11 0 1 11 6 Woolworths Syd. 1 5 6 — Woolwortlis Syd. (rights) 0 19 0 0 19 6 Mining— B.H. South 1 16 0 1 18 6 Emperor 0 16 0 0 19 0 ■ Mount Lyell 1 7 . 4 1 7 9 Mount Morgan ... 0 8 10 0 9 3 . Placer 7 0 0 — North B.H. ... ... 3 19 6 4 5 0 Unlisted — \ Nat. Tobacco ... 1 10 0 1 14 0 Mac. Caley Ph. ... 2 7 6 2 10 0 Ross and G lend in. 2 11 6 2 13 0