COMMERCIAL Review Of Week’s Stock Exchange Transactions

Press, Volume C, Issue 29501, 1 May 1961, Page 18

COMMERCIAL Review Of Week’s Stock Exchange Transactions

tap Our CMtmereMl Editor! Allowing for the loss of one day’s trading on Anzac Day last week, it was a busy week on New Zealand stock exchanges. Prices for both New Zealand and Australian-domiciled shares showed no pronounced trend.

Twenty-one New Zealand-domiciled companies’ shares or rights had latest business last week at prices higher than at the dose the week before. Seventeen companies’ issues finished the week at lower prices. The previous week’s figures were 26 up, 28 down, and in the first week’s trading after Easter there were 22 up, and 18 down.

As in Australia there was some uncertainty in the tone of the market for Australian shares. Twelve overseas (mainly Australian) Issues finished the week’s trading in New Zealand at lower prices, while 11 were higher. The week before there were 12 rises and nine falls in thia section. iMwance Firm South British Insurance shares made one of the best gains among New Zealand issues, both the old and B issues finishing 2s fid up. New Zealand Insurance shares, which had risen strongly the previous week, rose a further «d. National Insurance, however, finished Is down at 245. Shareholders in the illfated Standard Insurance Company have had a weekend to study the reported statement of their chairman to be presented at the extraordinary general meeting tc be held in Dunedin a week from today. Although th< directors have been a lons time in informing share holders of events which tool place as long ago as Febru ary, IMO, they will hav< placed most of the relevan facts in shareholders’ hand before this important meet Shareholder interest in thi

meeting is widespread; an Auckland shareholders’ meeting was held last week, many Christchurch shareholders have indicated their intention of going to Dunedin for the meeting and it will probably prove to be the best attended meeting of shareholders ever held in this country. Breweries Weak Dominion Breweries and N.Z. Breweries shares were both slightly weaker last week. Dominion Breweries had risen Is fid in the previous two weeks, but N.Z. Breweries shares have tended to ease recently. Further weakening of the shares in several of New Zea-

land’s major retail organisetions suggests that thft nuurkct restrictions. ". < ’ Among issues of particular Christchurch interest, Canterbury Frozen Meat, N.Z. Refrigerating. Ballma .Iwfaetries, Burnett Holdings, Whitcombe and Tombs and M. O’Brien made good gains last week. Details of transactions in Christchurch last week were as followr.—Government stock £4660 (compared with £7500 the week before); local bodies and company debenture* and stock £5OO (nil); preference 1746 (1916); banks 113 (1205); breweries 13,300 (18,188); building societies nil (100); frozen meat 750 (723); gas 935 (820); insurance 1216 (2000); loan and agency 3351 (1400); woollens and textiles 200 ( 2994); miscellaneous Australian N.Z. (1B.854); miscellaneous N.Z 16,143 (14,713); mining 100 (nil); unlisted 600 (500); total 50,474 (64,213).