THE STOCK MARKET

Otago Daily Times, Issue 26115, 30 March 1946, Page 3

THE STOCK MARKET

MODERATE WEEK’S TRADING

INTEREST IN UNLISTED SHARES

Business on the Dunedin Stock Exchange during the past week was rather less brisk titan it has been in recent weeks, and only a moderate turnover resulted. The chief interest of investors seemed to centre in a variety of unlisted shares, among which were Whakatane Paper Mills, Otago Farmers Co-operative, Felt and Textiles of New Zealand, Ross and Glendining, Turnbull and Jones, and Otago and Southland Finance Company. Yesterday was the quietest Friday which has been experienced for many months, and this can probably be attributed to its being the eve of the close of the financial year, together with the fact that, being income tax month, large amounts of idle cash had been removed from current accounts.

The market was heartened by an announcement by Dunedin Breweries of a bonus of 9d, and its additional declaration of a 2£ per cent., dividend. Shares responded well to the news, and all brewery shares, in fact, closed the week at better rates than those prevailing at the commencement of the week’s trading. Interest in banking shares was fairly marked, and there was a good demand for this scrip. Price variations, however, were slight. Interest in meat and agency and loan and mercantile shares was maintained, although little of the scrip changed hands. The following table shows, to the nearest £, the turnover on the local Stock Exchange during the past week:— £ Union Steam (pref.) 1528

Kaitangata Coal

National Mortgage 457 Henry Jones Co-operative .. .. 442

3 p.c. Stock, 1955-58 400 Mount Lyell .. .. 377 Dunedin Breweries 335 Dominion Breweries 305 Felt and Textiles of N.Z. (unlist.) 229 Woolworths, South Africa .. .. 215 Ross and Glendining (unlisted) 215 Dunedin City Corporation, 41 p.c., April 1, 1947-50 (ex April 1 Interest) 200 Dunedin Drainage and Sewerage Board, 4.1 p.c., April 1, 1947-50 (ex April 1 interest) .. .. 200 Westport Coal 128 Turnbull and Jones (10s paid, unlisted) 190 Woolworths, Ltd 125 Whakatane Paper Mills (unlist.) 106 Clutha River 88 New Zealand Refrigerating (cont.) 80 Radio Corporation 73 Otago and Southland Finance (unlisted) 20 Otago Farmers’ Co-op. (unlist.) 10