COMPANY AFFAIRS.

Auckland Star, Volume LXIII, Issue 250, 21 October 1932, Page 4

COMPANY AFFAIRS.

AUSTRALIAN GLASS. INTERIM DIVIDEND UNCHANGED. (By Telegraph.—Press Association.) WELLINGTON, Thursday. A cablegram received from the Australian Glass Company to-day by the Stock Exchange Association states: " The directors have decided to declare a dividend of 4Yz per cent on preference shares and an interim dividend of 3 per cent on ordinary shares for the half-year ended September 30 last, payable on November 15." The dividends are at the same rate as the interim distributions last year. BURNS, PHILP, LIMITED. USUAL INTERIM DIVIDEND. An interim dividend of 5 -p-er cent., has been declared by the directors of Burns, Philp, and Company, Limited. Payment will be made on November 15. The dividend is at the usual rate. NATIONAL BANK OF AUSTRALASIA. INTERIM DIVIDEND 5 P.C. (By Telegraph.—Press Association.) WELLINGTON, this day. Advice from Melbourne states that the board of directors of National Bank of Australasia, Ltd., has decided to pay on November 30 an interim dividend on both classes of shares for the half-year ended September 30 at the rate of 5 per cent per annum. Last year the dividend paid for the year was 6 per cent. WILTON COLLIERIES. DIRECTORS THANKED. (By Telegraph. —Own Correspondent.) HAMILTON, this day. At a meeting of Waikato shareholders in the Wilton Collieries, Ltd., held here, a resolution was carried placing on record their keen appreciation of the efforts ot the managing director, Mr. Hendry Luke, and the directorate in safeguarding their interests during the recent coal crisis. The resolution adds: —"We feel that had it not been for the stand taken by the directorate then Wilton shareholders would have been sacrificed and the mine closed up. We further wish to congratulate the directorate on the success attained in placing Wilton Collieries in the forefront of coal producing mines in the vv aikato. BUTTER AND CHEESE. LATEST LONDON CABLES. BUTTER SLOW: CHEESE QUIET. Latest advices from Tooley Street are to the effect that the market for New Zealand butter is slow. It would appear that the prospects of heavy supplies iron* the southern hemisphere, coupled with further quota restrictions by Germany, are depressing the market. Cheese values are maintained, but the demand is slow. The weekly official cable from London reads as follows: — ~,,, Butter.—Slow. Danish, 116/ per cwt. Choicest salted: New Zealand (scarce), 110/; first grade, 102/; choicest Australian, 100/. Unsalted: New Zealand, 108/ to 114/; Australian, 100/ to 104/. Cheese—Quiet.. New Zealand, white, 65/ per cwt; coloured, 59/ to 60/; Australian, white, 63/; coloured, 59/. MERCHANTS' CABLES. A. S. Paterson and Co. (principals, Messrs. J. and J. Lonsdale and Co., London).—Butter: Market depressed, quiet. Buyers inactive owing to lack of confidence. Danish, 100/, f.o.b. (116/ landed); New Zealand, 101/ to 109/; Australian, 98/ to 100/. Cheese: Market dead slow. White, 64/ to 65/; coloured, 59/. Mr. L. McCartney (Messrs. Henry A. Lane and Co., Ltd., London). —Cheese: New Zealand, white, 65/; coloured, 60/. Market steady. Canadian, 67/, c.i.f. Butter: 101/ to 110/; Australian, 99/ to 101/. Market quiet. Danish, 100/, f.o.b. Messrs. Norden and Co., Ltd. (principals, Messrs. R. and W. Davidson, Ltd., London, Glasgow, etc.). —Butter: Market quiet. First grade, 101/ per cwt, equivalent to 10.44 d per lb, f.0.b., Auckland; finest, 110/ per cwt, equivalent to 11.38 d per'lb, f.0.b., Auckland; unsalted, 108/ to 112/ per cwt, equivalent to 11.38(1 per lb, f.0.b., Auckland. Cheese: Market steady. White, I 65/ to 66/ per cwt, equivalent to 6.19 d per lb, f.0.b., Auckland; coloured, 58/ to 60/ per cwt (slow), equivalent to 5.49(1 per lb, f.0.b., Auckland.

Messrs. Dalgety and Co., Ltd. (London principals, Messrs. Samuel Page and Son). —Butter: The market is slow. New Zealand, finest salted, 100/ to 110/; Dajiish, 116/ to 118/; Australian, finest unsalted, 98/ to 104/; finest salted, 98/ to 102/; g.a.q., 94/ to 96/. Cheese: The market is quiet. New Zealand, white, 64/ to 66/; coloured, 59/ to 60/; Canadian, white, 66/ to 68/; coloured, 66/ to 68/.

RUMANIAN PETROL

ON SALE IN SYDNEY. The first shipment of Rumanian petrol will arrive in Sydney on Saturday (wrote the Sydney correspondent of the "Melbourne Herald" on October 3), and will be available to motorists at l/ 9 a gallon on the following Thursday. The importers say that a few weeks later it will be obtainable at pumps within a 50-mile radius of the city, and in a month or two it will be selling throughout the State. Mr. Murray Little, manager of Independent Oil Industries, Limited, which is importing the petrol, said to-day that two million gallons would be included in the first shipment, whicli was aboard the tanker Woensbrecht. The tanker will berth at Glebe, and the petrol will be conveyed to the company's storage tanks in Federal Road, Glebe, by a 6in pipe line a mile and a half in length. Mr. Little said that the petrol had been bought in London from British owners of Rumanian wells, and contracts had been arranged for further supplies. METAL MARKETS. BRITISH IMPORTS. Statistics published show that, despite the increase in Great Britain's requirements of base metals because of the industrial stagnation of the last two years, Australia has been able to increase her share of .that market. This has been particularly 60 with lead since the duty of 10 per cent was imposed on imports of that metal into Great Britain from outside the Empire. How Australia has helped to supply Great Britain with metals in the last three halfyearly periods is shown in the following table: — Half-year ended . June 30, Dec. 31, Juno 30, Imports into _ 1931. 1931. 1932. Great Britain. Tons. Tons. Tons. Lead — Australia .. . 56,778 53,434 65,472 Elsewhere .. 91,670 108,250 71,876 Spelter—• Australia ... 21,305 6,901 14,839 Elsewliero .. 62,596 54,709 44,498 Copper— Australia ... 3,309 6,033 4,004 Elsewhere .. 66,770 54,584 51,852