Commercial News

Auckland Star, Volume LXXIV, Issue 283, 29 November 1943, Page 5

Commercial News

ON 'CHANGE

SELLERS HOLDING OFF

Buyers came forward with firm bids on the Auckland Stock Exchange to-day, but sellers were shy and business was moderately quiet. Offers for New Zealand Insurances were made at the new peak, £4 7/, but no holders quoted. Issues in keener demand included Farmers' Fertilisers and N.Z. Newspapers. The increased dividend of Traders' Finance was reflected in bids for the contributing shares at 6/ ex dividend, equivalent to the cum dividend price. Government stock was steady, with supplies scarce. SALES" COMPLETED At the 5.45 a.m. call to-day:—Auckland Gas, 7/5 (7/6); Farmers' Auctioneering (3 pref.) £1 4/6: Dominion Breweries. £1 19/6 (3)- G J Coles, £3; Broken Hill South. £1 7/ (£1 6/7' i)' At the; 11.45 a.m. call, to-day:—Australian Consolidated Industries (ex div.), £2 16/. Last sale price in parentheses where changed. LATEST QUOTATIONS „ ~„,.,,, Buyers Sellers Commercial Bonk Australia . 17/4 . 17/7 National Bank N.Z 2/13/0 .. 2/14/6 Nat. Bank A'asia (pd.) 11/18/0 .. Bank New South Wales 33/10/0 .. Bank New Zealand 2/1/10 .. 2/2/0 Union Bank Australia 7/12/0 .. 7/14/0 National Insurance 1/4/6 .. New Zealand Insurance • 4/7/0 .. South British Insurance ... 3/13/6 ... . Farm. Co-op. Auct. (£5 pd.) 4/15/6 .. 4/19/0 Farm. Co-op. Auct. (£2 pd.) 1/13/0 .. 1/14/9 Farm. Co-op. Auct. (£1 pd.) 16/6 .. 17/0 Farm. Co-op. Auct. (B pf.) 1/4/6 .. 1/4/9 N.Z. Loan and Merc 45/0/0 .. 48/0/0 N.Z. Loan and Merc, (pf.) . 90/0/0 .. — Traders' Finance (ex div. 7 . 14/0 .. — Trad. Finance (con.) (ex div.) 6/0 .. 6/6 Pukemiro Coal 17/6 .. — Renown Coal (ord.) 9/3 .. 9/9 Renown Coal (pf.) 2/10 .. 3/3 Auckland Gas 7.3 .. 7/6 Devonport Ferry 1/9/3 .. — Northern Steam 10/7 .. 10/9 National Timber 8/3 .. 9/3 Rotoiti 7/6 .. 8/9 Bruce Woollen (ord.) 1/10/0 .. — Felt and Textiles 2/9/6 .. — Tattersfield (ex div.) 1/17/0 .. — Dominion Breweries (ord.) .. 1/13/3 .. — New Zealand Breweries 1/18/0 .. — Tooths Brewery 2/16/0 .. 2/18/0 Aust. Consolid. Industries .. 2/15/0 .. 2/17/0 Broken Hill Proprietary 2/4/3 .. 2/4/9 Burns. Philp 3/0/0 .. — Colonial Sugar 56/15/0 .. — Consolidated Brick 10/9 .. 10/10 Electrolytic Zinc 2/15/6 .. 2/17/0 Farmers' Trading 1/4/0 .. — Gear Meat 1/3/6 .. 1/4/6 G. J. Coles 2/19/6 .. — Gordon and Gotch 2/7/6 .. — National Pictures 5/6 .. — N.Z. Farmers' Fertilizer ... 1/2/0 .. 1/2/9 N.Z. ForSst Products (ord.) 8/1 .. 8/6 N.Z. Newspapers 1/19/0 .. 2/2/3 Radio (1936) 16/6 .. — Reid Rubber 1/9/6 .. — V/iisons Cement 19/0 .. 19/6 Woolworths (N.Z.) «/3 •■ — Woolworths Properties 1/7/6 • • — Woolworths (Sydney) 19/0 ■• W/3 Barrytown 12/0 •■ l»/0 Broken Hill South 1/6/9 •• 1/1/6 Bulolo 4/9/0 ■• 4 ' 15 /° Mount Lyell 1/9/0 •■ l/»/0 Mount Morgan (ord.) 8/6 .. 8/9 Inscribed Stock: 15/6/47-49, 2',4 p.C 96/17/6 .. — 15/9/46-48, 3 p.c. .". 99/0/0 .. — 15/12/53-56. 3 p.c 99/0/0 .. 99/5/0 15/4/46-49, i p.c 102/5/0 .. — 15'5/49-52, 4 p.c 103/15/0 .. — Auck. Gas (perp. deb.), 3V 2 88/12/6 .. 90/0/0 SOUTHERN EXCHANGES Duncdin this day.—Bank N.Z., £2 2/. Reported: Bank N.Z.. £2 2/ (2); Broken Hill Proprietary, £2 4/6.

DIVIDENDS DECLARED hr^ n d«ln?ed e U£ G eishlh l^v\d!nd o ot ( Gd "i shSV, or 10 per cent, payable on December 17. Wcol'Aorth properties, Ltd., are paying the usual hall-yearly dividend on preferred oromary shares of 3 per cent, unchanged, on January 15. The- P. and O. Company has declared a final dividend on preference stock of 2,2 per cent, making 5 per cent for the year, unchanged, and on d" R-rred stock of 3 per cent plus of 3 per-cent, making a per cent for the jear (less United Kingdom tax), unchanged. WAR LOAN HOLDINGS TAX REBATE FAVOURED "Dti'-in" the year the Government issued" the Third Liberty Loan f Ol £35,000,000, and .it over-subscribecl. The pleasing point about thio loan, i rnnirast to the preceding loans, was me hree increase ill the number of contributors, and the public seem to have at last realised that it js the du y tn rnntributc to the wax etiorc u have the means,'' stated the review piesenteel at the annual meeting of the Christ church Stock Exchange. , Liberty SSSI S over-subscribed, their_ t |™f and wer l e oan m0 * as a 1!''!? wa?^3ji per cent 1 ! and in investors were allied an income tax rebate Oj. «/ inA. Ste-5st d and m tho h °rebate l " are points which our SrtSe? m ioans| ni whlch Ve mus° n ii?e?ltably en be' 5S dcnf to meet our war commitments," stated the review. 10 "Many companies are in the PO S tlon hat thev have turned most of their stMss irnu cash and possibly Invested it to awnment loans, while others who are msnufactuicis nave heen working their plants to capacity ana nave been unable to keep up their normal repairs and maintenance by lack of necessary matcii-1. The litter claa-i will be faced with lsigD caliS on their cash resources for the necessiu/ work when the war is ever and materials are able and it seems most unjust that thcSt. ccm " panics are not permitted to bnlld J vear by year from their income to meet Sis which might quite easily fall in one year and preclude any dividends to shareholders. In IE? case, large sums of money will be required after tile war for restocking and renewals of plant, and brokers should well consider the effect It will have, on markets." MARINE INSURANCE Advice has been received locally of alternations in the following schedule of war insurance raxs. the previous rates being shown in brackets.—New Zealand, Australia and Pacific Islands, to or fiom North and Central America (Atlantic. Pacific 01 Gulf ports), via Panama or Pacific (excluding Pacific ports via Pacific), 4 per cent (5 per cent). Pacific ports via Atlantic, 3 per cent (4 per cent). —P.A. NORTH BROKEN HILL North Broken Hill. Limited (Melbourne), shows net profit of £234,756 for the year ended Juno 30, compared with £422,148 In the previous year and £492,624 in 1941. The decrease was due to a slightly lower grade of ore treated, lower mine output and rises in costs, the directors report. Dividend, reduced from 2/ a share to 1/D, requires f 245 000 cr £10,244 more than the profit. After appropriating £61,441 for new plant, the carryforward is £437,433, against £509,118 brought in. Taxation provision is £168,248, against £314,000. EMPEROR MINES CAPITAL Emperor Mines, Ltd., advise that transfer books close on December 18 for the purposes oi the return of capital on January 14. The nominal capital on both issued and unissued shares is being reduced from 10/ to 8/6. QUEENSLAND INSURANCE Net profit of £149,637 reported by the Queensland Insurance Company, Ltd., for the year ended September 30, compares with £ 142,376 in the previous vear and £ 125,928 in 1941. After adding £15,000 (unchanged) to unexpired risks reserve, underwriting surplus is £63,645, against £62,583 last year. Net interests and rents amounted to £80,992, against £79,793. Steady dividend of 10 per cent requires £75,000 and £75,000 is placed to reserve. The carry-forward is £86,236, against £86,599 brought forward.