COMMERCIAL

Grey River Argus, 18 August 1937, Page 8

COMMERCIAL

N.Z. SHARE MARKET. I Per Press Association]. CHRISTCHURCH, August 17. Sales: Comm. Bank of Aust, (cum div) 18/1 (3), Bank of New South Wales (cum div) £34 12/6. Bank of New Zealand 44/6 (2), ix.Z. Refrig. (£1 pd.) 19/9 (2), Kaiapoi Woollens (7/- pd.) 5/3, Broken Hill Propty. 84/3 (2), Woolworths (South Africa) 16/9 (3), Broken Hilf South (cum. div.) 50/3, 50/- (2). Mt. Morgan 12/0i (2), North Broken Hill 79/6. Reported: Kaiapoi Woollens (7/- pd.) 5/2, Broken Hill Propty. (late sales yesterday) 84/3 (4), G. J. Coles £5 2/-. Unlisted: McKenzie’s Dept. Stores 86/3 (2). Reported: Woolworths (Sydney ord.) (late sale yesterday) £6 14/6. DUNEDIN,'August 17. Sales: Union Bank £lO 2/-, New Zealand Refrigerating (cont.) 9/6 (3), Broken Hill Proprietary £4 4/6, Colonial Sugar £4B 2/6, G. J. Coles £5 1/9, Milburn Lime and Cement £2 2/6 (2). AUCKLAND, August 17. Sales: Tooths Breweries 55/3, Assoc. Pulp and Paper (17/6 pd.) 19/1, Coles £5 0/6, £5 1/6, £5 2/-, Wilson’s Cement 20/9, Wellington Alluvials 6/10. Unlisted: Woolworths (Syd.) £6 15/-. Sales, 12.15 p.m. call: Goldsborough Mort. 35/8, 35/9; Dominion Breweries rights (2) 12/1, 12/2; Consol Brick 9/-, Dunlop 24/-, Zinc pref. (2) 61/-, Farmers’ Trading 20/10, Coles 101/-, Taranaki Oil 4/11, Emperor 16/-. Unlisted: McKenzie’s 87/-. WELLINGTON, August 17. Sales, morning call: Gear Meat 18/9, Burns Philp rights £1 14/3 Sales reported: G. J. Coles £5 1/9, £5 1/3, Broken Hill £4 4/3, Felt and Textiles £2 1/-, Placer Developments £4 1/-, Plato Consolidated 12/7i, 12/9. Overseas listings: Woolworths Holdings Ltd. 16/11. Unofficial list: McKenzie’s Dept. Stores £4 7/6, £4 7/6. Odd lot: Wool worths Ltd. £6 13/6, £6 14/6, £6 15/-, £6 15/6, £6 17/-. Sales, noon call: Huddart Parker ordinary 40/3, National Insurance 18/-, Shillings 21/-, Colonial Sugar £4B, Coles £5, Broken Hill 84/9, 84/6. Unofficial list: Ballins Breweries 14/7-’., McKenzie’s 86/9. SYDNEY, August 17. _ Sales: Australian Glass 96/6, British Tobacco 52/-, Colonial Sugar £4B/7/6, Dalgety’s £lO, Goldsbrough .36/6, Mark Foy 26/-. LONDON, August 16. Gold 139/7, dollar 498 1-8, franc 132 13-16.

AN AMALGAMATION. MacDUFFS AND SHILLINGS, LTD. WELLINGTON, August 16. The secretary of the Stock Exchange Association of New Zealand reports that a joint communication has been received from Mac Duffs, Ltd., and Shillings, Ltd., to the effect that negotiations for amalgamation are proceeding between the two companies. Shillings, Ltd., has an authorised capital of £200,000 in £1 shares, of which 125,000 have been subscribed and fully paid up. Macduffs, Ltd., has an authorised capital of £125,000 in £1 shares; 80,007 ordinary shares have been subscribed and 30,007 issued. In addition, 50,000 £1 6 per cent, cumulative preference shares have been issued. Of the ordinary shares 30,000 were issued to the vendors, Macduffs, Ltd., which was formed in 1924, and which the present company was formed in 1935 to take over. It is anticipated that the proposed basis for amalgamation will be the formation of a new. company taking over the business of both Macduffs and Shillings, in which new company the 6 per cent, cumulative preferer shareholders of Macduffs will receive one fully paid up 6 per cent, cumulative preference share held in Macduffs, together with a bonus of two ordinary fully paid up ordinary shares in the new company for every five 6 per cent. cumulative preference shares held in Macduffs. The ordinary shareholders of Shillings will receive one fully paid up ordinary share in the new company for every ordinary share in Shillings, together with a bonus of one fully paid up ordinary share in the new company for every 10 ordinary shares held in Shillings.

QUOTATIONS. Quotations: Argo 1/105, 1/111; Barry town £1 12s 6d, £1 16s 9d; Big River 1/1, 1/6; Gillespie’s Beach —, 1/41; Mount Lyell £2 4s lid, £2 5s Od; Nemona —, 1/8; New River —, 71: Okarito 1/6, 3/6; Worksop Extd. 1/4, 1/6; Mount Morgan 12/0, 12/1; Mossy Creek —, lOd; Grey River (5/- pd.), 5/0, 5/5. JAPANESE WHALERS. TOKIO, August 16. A Foreign Office official, M. Kuroda told the press that Japan would particilate in the next whaling conference, if requested, but she hopes England and Norway, who, at present, are almost monopolising the Antarctic industry will agree to Japan having a fair share of the industry on its present scale. U.S.A. SHIPPING EXPANSION. BIG BUILDING PROGRAMME. WASHINGTON, August 16. _ Mr Kennedy, chairman of the Maritime Commission, announced to Congress, plans for Government aid in the construction of sixty freighters, twenty-five passenger ships, and ten tankers at the cost of 256,440,000 dollars.