SUBSIDY REDUCTIONS

Otago Daily Times, Issue 27384, 9 May 1950, Page 9

SUBSIDY REDUCTIONS

Commerce

No Noticeable Reaction DUNEDIN STOCK EXCHANGE There was less activity on the Stock Exchange yesterday, but no reaction to the removal of subsidies was discernible in the quotations. Offers tor shares were fully comparable with the rates ruling on Friday, and in some cases higher offers confirmed the continuation of the trend. Kempthorne Prossers were wanted higher at £5 11s, the nominal seller asking £5 13s 6d. and DIC ordinary shares moved to 33s on the buying bid. New Zealand Refrigerating were again sold at 18s lOd to confirm the new level attained on Friday, and the stock closed at 18s 9d offer and 19s asked. Mount Lyell were slightly wider as a result of the announcement that no interim dividend is contemplated, and closed with buyers at 21s 6d, sellers asking 22s 6d, in comparison with business at 22s 3d at the end of last week. Felt and Textiles of New Zealand, which have disclosed an easing tendency during the past two or three weeks, were sold lower at 38s 9d, but the buyer at 38s when the market closed was not supported by a vendor. Mount Morgans were sought at 2Ds Id. the seller at 20s 6d being unwilling to concede. DUNEDIN Sales Reported—- £ s. d. Dominion Brew. (1001 .. .. 310 0 NZ Refrig., cont. (300) .. .. 018 10 Felt and Text., NZ (100) .. 118 9 Woolworths, NZ (127) .... 15 9 Auckland.—Sales: 3 p.c. Stock, Sept., 1952-55 (£370), £99 17s 6d; Baffin’s Brew. (100), £1 10s; NZ Brew. (75), £2 8s 6d; Pukemiro (100), £1 13s 6d; Ak. Gas (3250), 10s Id; Ak. Gas, 5s pd. (500), ss; Sth. Brit. (200), £4 17s 6d; Korma, pref. (300), 18s Gd; BHP (232), £2 7s 3d; Farm. Trad. (400), £2 2s; Fletchers (150), £1 13s 3d; KDV Boxes (500), 11s; MK Mfrs. (300), 12s 8d; MK Mfrs. (500), 12s 9d; Forest Prods. (300), 6s 4d; Reid Rubber (200), 15s 6d; W’wths., Syd. (200), £1 3s: W’wths., Syd., rts. (300), 13s 3d; Carpenter (200), £1 Is.—Unlisted stock: Alex. Harvey, old (500), £2 12s; Whaka. Bd„ ord. (237), 17s 9d. Wellington.—Sales reported: Dom. Brew. (50), £3 10s; Reid Rubber (200), 15s 6d. —Sales: 2J p.c. St'ock, 1950-51 (£200), £99 10s; 2J p.c. Stock, 1954-55 (£260). £9B; 3 p.c. Stock, 1956-59 (£2000). £99 7s 6d; Sth. Brit. (200), £4 17s Gd; NZ Guarantee (400), 5s sd; Felts, NZ (100>, £1 18s 9d: ACI, ex rts. (100). £2 8s 9d: Aust. Paper Manfg , pref. (300), £1 6s 3d; BHP, ex (100), £2 7s 3d; G. J. Coles (400), 19s; H’stein Bros. (200), £1 10s Gd; Macduffs (100), 11s 9d: W’wths., Syd., rts. (200), 13s; W’wths.. NZ (400, 2 sales), £1 5s 9d. Christchurch.—Sales on ’Change: G. J. Coles' (400),. 19s: Maling and Co., pref. (100), £1 2s; McKenzies (200), £3 ss; W’wths.. NZ (127), £1 5s 9d.—Sales reported: Booth Mac., pref. (500), 14s 9d. Sydney.—The new issue terms of Colonial Sugar caused shares to drop back on the Sydney Stock Exchange today, but they later rallied slightly. The turnover ' was unusually large.—Sales: National, 12s 6d; paid, £1 3s 6d; Tooths, £4 12s; Assoc. News. 16s; pref., 19s 6d; Ant. Hordern. £1 8s; Brad. Cotton, £2 0s 6d; BHP, £2 13s 6d; BH, cont., £2 8s 3d; Burns, Philp, £4 17 s Gd; Col. Sugar. £72 7s 6d; Drug Houses, £2 2s 3d; Elec. Zinc, £4 Is Gd; Goldsbrough, £2 ss; Hadfields Steel, 14s; W’wths, £1 6s; Carpenters, £1 4s 6d; David Jones, £2 13s 9d; Felt Text., £2 8s; Gen. Indust., £1 17s 9d: Howard Smith, £1 6s 7£d; Kandos £2 6s 6d; Mt. Lyell, £1 4s 6d; BH Nth. £3 18s 3d: BH Sth., £2 10s 3d; Kuala Kampar, £1 2s 3d; OH Search, 4s 9d.