INVESTMENT BUSINESS

New Zealand Herald, Volume LXXII, Issue 22166, 20 July 1935, Page 9

INVESTMENT BUSINESS

DOMINION ASSOCIATION PROFITS SLIGHTLY HIGHER DIVIDEND RATE MAINTAINED A net profit of £7802 was earned by the Dominion Investment and Banking Association. Auckland, for the year ended June 30. The profit compares with £7ijß6 in the previous year and £8974 in 1933. The profit is struck after meeting all expenses, writing down furniture and fittings and providing for depreciation of certain securities. A sum of £919 was brought forward, making £8721 available. The directors propose to distribute this as follows: To payment of an unchanged dividend of 4 per cent on all classes of shares, £6501; to reserve fund, £IOOO, increasing this fund to £6OOO, in addition to contingency reserve of £3500; and to carry forward £1220. The directors state that tho year's business lias reflected more stable conditions and returning confidence iti national ail'airs. Tho banking department showed an increased balance, in spite of further reductions in interest on deposits, other than savings bank deposits, rendered necessary by the difficulty of profitable employment of deposit funds. The retiring directors. Messrs. J. A. Warnock and G. Winstone, offer themselves for re-election. The association's profits and appropriations over the past three years are as follows: 1932-33 1933-34 1934-35 Brought forward £1,028 £938 £919 Net profits .. 8,974 7,580 7,80'2 ~ . £10,002 £8,524 £B/721 Dividends— A, B and C shares .. 4} 4 4 Amount . . 7,504 6,<505 0.501 To reserve . . 500 500 1.000 Contingency Res. 1,000 500 Carried forward £938 £919 £1,220 Movements in the chief balance-sheet items are as fallows (increase + and decrease —): — LIABILITIES £ £ Capital 1(53.283 —3,072 Deposit .. .. .. 131,228 +2,514 Loans authorised, bat unpaid .. .. 1,435 —3,705 Reserves 8.500 +I,OOO ASSETS £ £ Advances on mortgage . . 255.438 —3,1533 Govt, securities . . . . 18,998 —2,577 Fixed deposit . . 10.101 +3.078 Debentures and deposits 18,072 —470 Cash 3,920 +392 The balance-sheet total is £313,646. against £316,458 last year.

AUSTRALIAN EXCHANGES

YESTERDAY'S BUSINESS (Received July 19, 8.15 p.m.) SYDNEY, July 19 On the Sydney Stock Exchange today leading company shades were very firm. Commonwealth bonds were quiet and mining business was slack'. This morning's sales included:—Commonwealth 4 per cent bonds: 1938, £lO3 8s 9d; 1957, £lO5 ss; 1961, £lO6 10s. Commercial Bank of Sydney, £lB 12s; Anthony Hordcrn, 20s 1 id; Associated News, 23s 3d; ditto, 23s 10Jd; Broken Hill South, 91s 6d; DunlopPerdriau, 16s 6d; James Stedman, 18s 9d; Lustre Hosiery, 28s 3d. Later sales included: —Bank of New South Wales, £32 15s; Commercial Bank of Sydney, New Zealand delivery, £lB 12s; National Bank (£5 paid), £6 lis; Union Bank, £9 ss; Colonial Sugar, £45; Adelaide Steam, 31s Gel; HuddartParker, 39s 9d; Burns-Philp, 655; Australian Gas, A shares, £8 3s; British Tobacco, 40s 3d; Tooth's Brewery, 55s 3d; Toohey's Brewery, 30s 7£d; G. J. Coles, 625; Morris Hedstrom, 225; Henry Jones, 37s 6d; David Jones, 41s 6d; Anthony Hordern, 20s l.Jd; General Industries, 20s; ditto, preference, 255; Amalgamated Textiles, lis 7d; John McGrath, 365; Mount Morgan, 375; South Broken Hill, 91s 6d; Norths, £6 16s 6d; Bulolo Gold, £8 16s; Alalim Nawar, 18s 3d; Placer Development, £32.

Melbourne sales included: —Bank of Australasia, £ll 3s; Commercial Bank of Sydney, £lB 8s; National Bank (£5 paid), £6 lis; Goldsbrough-Mort, 30s 3; G. J. Coles, 62s 6d.

NEW COMPANIES r 11 SOUTHERN REGISTRATIONS Registration of the following southern companies is announced in the Mercantile Gazette: — PUBLIC Timaru Lime Company, Limited, lime manufacturers and colliery proprietors, Timaru. Capital: £13,000 in 13,000 shares of £1 each. Subscribers: Timaru —P. A. El worthy, 100; P. S. Enting, 1; M. M. Enting, 1. Cliristchurch — W. L. Hughes, 100; C. L. Purdie, 1; F. G. Dunn, 1. Dunedin —J. Richardson, 100. PRIVATE Kash Traders, Limited, storekeepers, lluatoria, East Coast. Capital: £2500 in 2500 shares of £1 each. Subscribers: H. J. Hayden, 1200; M. E. Hayden, 500; W. J. llayden, 200; C. S. Hayden. 200; H. C. Hayden, 200; E. L. Hayden, 200. Normandio Company, Limited, land dealers. Cliristchurch. Capital: £20,000 in 20,000 shares of £1 each. Subscribers: Cliristchurch —D. E. Barlow. 19,000; N. H. Barlow, 1000. 'fait Timber Company, Limited, timber merchants, Wellington. Capital: £4300 in -1300 shares of CI each. Subscribers: Taumarunui —J. G. 'fait, 4299; C. H. 'fait, 1. Winley and Company, Limited, sharebrokers, Palmerston North. Capital: £SOOO in 5000 shares of £1 each. Subscribers: Palmerston North—W. E. Winks, T. A. Daley, J. Hughes. Auckland —E. A. Frethey, 1250 shares each. WHEAT, FLOUR AND PULSE LONDON, July 18 Wheat. —Cargoes are firm and unchanged. Prices of parcels are steady to 6d advance. Futures —London: September, 21s 3d a quarter. Liverpool, July, ,5s a cental; October, 4s 113 d; December, 4s Hid; March, 4s IOJd. Spot trade slow. Australian, ex ship, 20s 9d. Flour, quiet. Australian, ex store, 20s to 20s Gtl. Oats, firm. Peas and beans, quiet and unchanged. Raw sugar, beetroot basis, August delivery, 4s 3id a cwt. MELBOURNE PRODUCE MELBOURNE, July 19 Following are to-day's quotations on the Melbourne produce market:— Wheat, 3s Od. Flour. £lO 7s 6d. Bran, £4 15s. Pollard, £5. Oats, 2s 3d. Barley, English, 2s 7d to 3s. Maize, 4s 6d. Potatoes, £lO 15s to £ll. Onions, £9 sa.