SOUTHERN EXCHANGES.

Auckland Star, Volume LVII, Issue 86, 13 April 1926, Page 4

SOUTHERN EXCHANGES.

(By Telegraph.—Press Association. WELLINGTON, this day. Sale on 'Change: Equitable Building, £9. CHRISTCHURCH. this day. Sales on "Change: Bank of Victoria (ord.). £B'2/0: Mercantile Finance (5/ paidl. 4/9 and 4/10; St. Bathan's, 3/3 prom, 2/ p.-ein. Oil. IN CANADA. Tn comparison with the average production in other oil fields of the world, Alberta oil wells now producing show a high average. The Boyalite w.ell, south of Calgary, in the Turner Valley field, is producing 400 barrels a day of almost pure naphtha, while wells in the Wainwright field, east of Edmonton, are producing from 80 to 100 barrels a day. This compares with an average of 6.59 barrels in 298,915 wells in the United States in 1924, with an average of 55.53 in California, of 20.9 in Texas, of 8.32 barrels in Oklahoma, of 20:63 in Montana Rocky Mountain area, of 41.84 in Wyoming. DOMINION FINANCE. It is reported that the year which concluded on March 3.1, will prove to have been quite satisfactory rrom the point or view or public revenue, and that a surplus or rrom £1,250,003 to £1,500,000 will be available. COMMONWEALTH BANI_. SATISFACTORY HALF YEAR. The balance-sheet figures or the Commonwealth Bank ror the hair-year ended December 31. show expansion on those of the corresponding term or 1024. Generally the banking business has been very prolltable, as net earnings are given at £251.408. against £200.943 ror the previous hair-year, and £133,613 ror the December term of 19-24. . Bank premises have been written down from £933,258 to £828,430. The profits or the Note Issue Department totalled £724,890, against £699,397, and as the rural credits branch earned £37. the total net earnings available ror allotment ror the hair-year; were £976.335. Hair or the profit of the . banking branch, or £125,704, go to' the Treasury as a contribution to the Commonwealth public debt, sinking- rund The general revenue receives £598 699 rrom the profits or the note issue, and the balance or the profit by the note issue ! department, . amounting to £126,192 is apportioned to the rural credits'branch ' \s _ result or the allocation, ror the term! the reserve fund of the bank now stands! at £822,313. Notfes issued on December) 31 represented a sum or £53,890,226 the! total- being £3.000,000 less than a year! ago owing to the cancellation or notes' on the reduction of the currency; The note issue department holds against the circulation,, gold coin and bullion or the value or £26.269,495, and £27,442,606, oC debentures and other securities, as well as £178.125 or minor assets. The deposits total' £31.463,836 as compared with £-8,997,6.12.3 year ago, savings- deposits total - £43,873,69.3. against £40.948,614. THd coin. ' bullion, and cash balances amount- t0~£10.719.694. against £7.774.----168, .money .at ■ short call in London £!6.185,000, against £10.6301000, Government . securities £39,167,603, against £39,021,464, at* I advances £10,098,071, against £10,054,936. Money at short call in London has increased by £5,555,000, and coin, bullion, and cash balances are larger by £2,945,526. The advances show! an increase.of only £43,000 as compared 1 with a year ago. 1