AUSTRALIAN SHARE MARKET

Manawatu Standard, Volume LVII, Issue 220, 17 August 1937, Page 5

AUSTRALIAN SHARE MARKET

AN UPWARD TREND. SYDNEY, Aug. 16. Most of the price movements on tho Stock Exchango to-day were toward higher levels, with heavy trading. Sales.—Bank of New South Wales, £34 10s; Commercial Banking Co. of Sydney, £2l 12s; Union Bank, £lO Is 6d; Burns, Philp, rights, 34s 6d; Burns, Philp, South Sea, 30s; Huddart Parker, 41s 6d; Adelaide Steam, 325; 'Tooths, 565; Board, Watson, 17s 4id; Dimlop-Perdriau, 24s 4£d; Farmers, 355; Felt and Textiles, 41s; G. J. Coles, £5 2s: ditto, Now'Zealand delivery, £5 Is 6d; Henry Jones. 49s 9d; Goklsbrough Mort. 36s 3d; Wilcox Mofflin, 14s 3d; Peters, -57 s 3d; W. R, Carpenter, 475; Warburton Franki, 24s 6d; Manly Gas, Now Zealand delivery, 235; Australian Drug, 14s; Australian Gas, A, £7 6s 6d: Associated News, 24s 6d; pref., 24s 3d; Cement Mortars, 12s 9d; Wostinghouse, 22s 6d; William Adams. 16s 3d; General Industries, 21s; Electrolytic Zinc, 61s 9d; Mt. Lycll. 45s 6d; Mt. Morgan, 12s 3d; Broken Ill'll Proprietary, 85s 3d; North Brokens, 80s 6d; South Brokens, 51s 3d; Kuala Kampar, 225; Rawang Tin, 12s 8d; Placer Development, 80s 6d: Taranaki Oil, 4s lOd; Emperor 16s 3d; Lolonia, 26s 6d. MELBOURNE, Aug. 16. The Stock Exchango to-day had a better tone, with banking stocks and industrial issues steady. There was considerable activity in Emperor and Loloma gold issues.

Sales. —Commercial Bank of Australia, 18s 3d; National Bank, £5 paid, £7 7s; Huddart Parker, 4ls; G. J. Coles, £5 Is; DunlopjPcrdriau, 24s sd; General Motors, 25s lOjd; Hume Pipe, 20s 6d; Felt Textiles, 40s 6d; Kauri Timber, 235; Sulphide Corporation, 16s 9d; Electrolytic Zinc, 61s 9d; pref., 61s 6d; Mt. Morgan, 12s Id; Broken Ilill Proprietary, 85s 9d; Emperor, 16s Id; Loloma, 26s 3d.

PROPOSED MERGER

SHILLINGS AND MACDUFF’S. Per Press Association. WELLINGTON, Aqg. 16. The secretary of the Stock Exchange Association ot New Zealand reports that a joint communication has been received from Mac Duff’s Ltd. and Shillings Ltd., to the effect that negotiations for an amalgamation -are proceeding between the two companies. It is anticipated that the proposed basis for the amalgamation will be the formation of a new company to take over the business of both Mac Duff’s and Shillings, in which new company the six per cent cumulative preference shareholders of Macduff’s will receive one fully paid up six per cent cumulative preference share held in the new company for every six per cent cumulative preference share held in Mac Duff’s, together with a bonus of two ordinary fully paid up shares in the new company for every five six per cent cumulative preference shares held in MacDuff’s. The ordinary shareholders of _ Shillings would 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 ten ordipary shares held in Shillings.