TRADE AND FINANCE.

Auckland Star, Volume LV, Issue 219, 15 September 1924, Page 6

TRADE AND FINANCE.

AUCKLAND SHAREMARKET. BUSINESS DONE. AT THE 10 A.M. CALL TO-DAY— New W.iiotahi 1/ South British Insurance £2/3/0 Tiiupiri Coal IS/ AT THE NOON CALL TO-DAY — New Walotahl U/). m<l Harbour Board. 6 p.c UIWS)

LONDON STOCK EXCHANGE. LONDON, September 13. On the Stock Exchange to-day Walhi chares were quoted at 26/10 buyers, 2S/3 sellers.—(A. and N.Z. Cable.) MILNE AND CHOYCE, LTD. -s The annual report by the directors of Messrs. Milne and Choyce, Ltd., which will he presented at the general meeting of - shareholders on September 24, states that the profit for the year ended July 31 was £24i261 2/4; to which is added the balance from last year £23,308 10/2, making £47,369 12/6. The directors recommend the payment of a dividend on all classes of shares, and the debenture stock at the rate of 8 'per cent, of which half was paid in April, leaving £10,000 for present distribu tion. The balance to be carried to the new account will be £27,5G!> 12/6. The report records the completion of the company's new premises, and observes that in spite of the disturbance of rebuilding there has been an increase of turnover each year, and the usual dividend has been' regularly maintained, notwithstanding that the last year-was .a difficult trading one. A recommendation is made that a bonus ef £2000 be granted to the staff. The company's capital remains at last year's figure of £250,000, comprising ordinary .irnd preference shares, £31,250, and debenture stock, £198,750. There are also '.'B" debentures. £22,000, while other liabilities are shown by ' the total of £141.594, as against £94.955 last year. Stocks are shown at £135,929 (£154,038 last year) ; land and buildings, £195,391 (£170.999) ; plant and fixtures, £67.841 (£30,073) ; cash etc.. £4084 (£5153) • debtors, £27,917 (£17,499) ; the total assets being £451,164 (£378,263). Profit and loss account shows gross profits, £134,404, as against £115.847 last year, while expenses under all headings total £110.143, as £02,570, leaving a net profit of £24,261, as against £23,276. MINE MANAGERS' REPORTS. Muir's Gold Reefs. manager reports that during the month ended August 81, 1924. the progress made in a ?3£K, tbe crosscuts from the main shaft at.aOO feet down, was as under:—The crosscut to Mmr s reef was advanced 122 ft. making a total of 214ft~from the shaft i slide, which probably corresponds with that passed through in the shaft, was met with in the drive, and necessitated timbering, which caused progress to be somewhat slower than it would otherwise have been The drive appears to be now through the slide and firmer country has made its appearance. A strong body of water Is now flowinc from the country near the fare hut the old pumps are still keeDing the mine unwatered satisfactorily. The crosscut to the Magsey reef was advanced 227 ft, making a total of 342 ft from the shaft. Fl "?- favourable country rock was met with for practically the whole distance, there being a few feet containing "greasy" heads. A vein about 6in wide, containing some quartz, was passed through at 325 ft from the shaft. N"ew Murray Creek (Reeftoni.—The directors report that the new reef has widened out to 4ft Gin. and gold is clearly visible in much of the stone. It runs almost parallel with, and quite adlacent to, a crosscut tunnel from No. 2 level. In one place it is only a few inches from the workings of the old company, and it is remarkable it was not discovered before The manager. Mr. Q. Kremmer, is of opinion that this reef will extend downwarus and upwards. The battery will clean up nt the end of September. Moanataiari.—The manager reports that during the week the drive on Cambria reef S5 advanc , ea 10ft. totalling 118 ft. The reef formation maintains its size, and is the footwall country tL 7< £ reached hard. caTrVing bands of imn"^* 1 ,. 18 Tery heavily chargll with SgLߣ?SftU*B? . tended next week to drive nY L iS *, ln " lode on the caorine wall «,,/. ? n tlns , was encased in splendid countA- hic . h a fai?chance of getUw; go°d 1s sects the crouloOe, wnere it inter-

BANKS— Sellers. Buyers. Australasia 13/18/8 .. — Commercial 1/10/0 .. 1/n/G Commercial R-ont.)... 1/4/6 .. 1/3/6, National C/13/o .. — National of Australia — .. lu/4/0 New South Wales... 41/10/0 .. 40/10/0 New Zealand 2/17/0 .. 2A6/9 L'nion of Australia... 14/18/0 .. 14/16/0 INSURANCE— National — ~ 3/14/0 New Zealand 1/9/7 1/0/4 South British 2/3/0 _ 2/3/0 FINANCIAL— (Jolrtsbrough Mort — — 2/3/0 fields. Mort (new issue) — . • 2/4/0 National Mortgage.... 3/17/6 ... — N.Z. ami niver Plate 1/0/6 .. 10/0 Loan and Mercantile. — .. SO/d/O Loan anrt Merc, (pref A — .. 7S/0/0 Wright, Stephenson (pref) 1S/0 .. — COAL— Hikurangi (ord.) 10/0 .. 6/0 Hikurangi (pref.) 11.0 .. — Hikurangi (cont.) .... 7/0 .. — Taupiri IS/0 .. 17/6 Taupiri (pref.) — .. l/*/0 WaSim — •• 19 / 3 GAS— Auckland fold) ~. 1/3/3 .. — Auckland (new) 6/3 .. 6/0 Gisborne — •• 1-/6" SHIPPING— Devonport Ferry l/G/3 .. 1/5/6 Huddiirt Parker (ord.) 2/5/0 .. 2/4/0 Northern Steam (p.u.) 17/0 . .. 16/7 Northern Steam (cont.) 8/0 ... 7/8 P. and 0. 300/0/0 - 287/0/0 TIMBER— Bartholomew »„...« — — 1/2/0 Kauri TlmDer 1/11/6 .- 1/10/6 L.O'B - .. 2/4/3 National 1/4/6 .. 1/3/0 Parker, Lamb 1/10/0 .. — Kotoiti 1/3/0 •- — WOOLLEN— Kaiapol (ord.) 16/3 .. 15/3 Mosgiel 7/3/0 .. — ILISCELLANEOTjSAbraham, Wil. (pref.) 4/13/0 .. -— P.ritish Tobacco 2 '3/0 .. — Bums, Fhilp and Co. 1/15/3 .. — Colonial Sugar 45/0/0 .. — Dental Supplies 1/0/0 .. — Dominion Pictures... — .. 18/0 Farmers' Auc. ....... — .. 2/l!)/C Gear Meat, Ltd — .. 2/2/0 Hill and Plummer... 1/3/0 .. — Theatre Arcade (ord.) — .. 1/3/0 Kempthorne, Prosser. — .. 3/8/0 llilne, Choyce (B pref.) — .. 1/4/0 Milne, Choyce (ord.).. — .. 1/4/0 Milne. Choyce (deb.).. — .. 1/2/0 National Pictures.... lfi/0 .. 15/3 Newton King (pref.).. 18/(5 .. — N.Z. Breweries l/S/0 .. — N.Z. Express — .. 17/0 N.Z. Home Builders.. — .. 15/0 N.Z. Milk Products.. 1/10/0 .. 1/6/0 N.Z. Kef rig. (cont.)... 0/4 .. 8/0 Parenga Oil — -. 1/0 Philllpps and Impey. — .. 1/9/3 Sharland and Co 1/2/0 .. —■ Taknpuna Trams 1/1/0 .. — Thames Theatre 1/0/0 .. 17/0 tjniori Oil — -. 1/11/0 Wilsong-Cement 1/0/3 .. 1/0/0 Farmers' Fertilizer... — .. 3/18/0 MINING STOCKS— Moanataiari 2/4 .. 1/10 New ■Waiotahi 1/2 .. 0/11 Rising Sun 1/8 .. — Wnihl '. 1/8/G .. 1/8/3 "Wflihi Grand Junction 2/7 .. 2/3 Zeehan Consolidated::. 8/0 .. C/0 DEBENTURES— <. Auek. Gas, 1032, 5 p.c. 91/0/0 ... — Auck. Gas., 1028, 6* p.c. — _ 103/0/0 Anck. H.B., Cμ.... 104/0/0 .. 102/0/0 City Auck., 1940, 5i p.c. — .. 95/10/0 I City Auck., 1936, 5J p.C. — .. 05/10/0 - Devonport Loan 102/5/0 .. — - Bycroft, Ltd 100/0/0 .. — N.Z. Breweries 1/2/0 .. 1/1/9 Mflne and Choyce 100/0/0 .. — WAR LOANS— Loan, 1930, 4i p.c — .. 97/0/0 Loan, 1938, 4i p.c 07/15/0 .. 97/10/0 loan, KIM, i\ p.c 08/0/0 .. 07/10/0 Loan. 102T, 5 p.c.,*.. — .. 97/10/0 Sol. Bonds, 1933, 51 lOlflo/O -• 101/0/0 INSCRIBE!* STOCB^Loan, 1027, o : p;c...... — '.J'97/15/0 Loan, 1029, 5 p.c — .. 97/10/0 Loan, 1038, 4J p.c 97/17/6 .. 97/10/0 Loan, 1027-41, 5i p.c. — .. 98/0/0 Soldiers'1933, 5J p.c. 101/10/0 ..101/5/0