THE WEEK'S EVENTS IN FINANCE AND MARKETS

Press, Volume LXXIV, Issue 22551, 5 November 1938, Page 14

THE WEEK'S EVENTS IN FINANCE AND MARKETS

Chief events in trade and financial circles in the last week are summarised below:—

Company Doings Macduffs. Ltd.. department stores announced company's bankers appointed receiver and manager for company's business from November 1. Dividends Lower _ Christchurch Building and Land Society (Permanent), 7 per cent., compared with 7i per cent. (Note: Special distribution of £4725 being made .to members to mark society's sixty-fifth anniversary.) New Zealand and Australian Land, 1J per cent., compared with 4 per cent, a year ego. Broken Hill South, 6d a share, making 2s 6d, or 50 per cent., for year, compared with 70 per cent, in 1937. J Dividends Unchanged Bycrofts, Ltd., interim 4 per cent. Kauri Timber, final at rate of 7 per cent, per annum for half-year to August .31. making 6 per for year; North Broken Hill, 6d a share; Worth Canterbury Sheepfarmers' Cooperative Freezing, Export and Agency Company, 5i per cent. Wilson's (New Zealand) Portland Cement, Ltd., interim at rate of 4Jd a share, equal to 7i per cent.; Union Oil, Soap, and Candle, Is 3d a share; Westport Coal, final of 6d, making Is a share. . Dividends Higher - Wellington Publishing Company, Ltd., 5 per cent., compared with 4$ per cent.; Sanford, Ltd., ordinary of 6d a share, compared with 4Jd; E., S., and A. Bank, final at rate of 3i per cent, per annum.

Wool , At the Sydney wool sales, greasy merino went to 21Jd, which was the best price this season. Competition was-strong from the Continent and Yorkshire, with good support from Japan. Customs Revenue A' decline of £833, compared with the figures for October last year, occurred in the revenue collected by the Customs Department at Christchurch m October, 1938. The total was £166.312 against £167,145. The figures for the April-October period were £1,203,111. compared with £1,266,949 in the same period last year. Meat Export Increases, compared' with last year, occurred in all classes of meat exported "in the first fortnight of the new exporting season which opened on October 1. . Reserve Bank The sterling exchange holdings of the Reserve have fallen by a further £605.571F and stand now at £7,707.697 in frew Zealand currency.

Overseas Trade. New Zealand overseas trade in September resulted in a smaller value of exports than.in September a year ago, the decrease being £718,000. Imports fell by £582,000, leaving an enlargement of the adverse balance of £136,000. ...

Company Profits 1937. 1938. Christchurch £ £ Building 7,994 10,166 Wellington Publishing 6,377 7,937 dol. dol. Bulolo Gold .. 3,458.946 3,453,463 North Canterbury £ £ Freezing 5,065 6,433 Felt and Textiles 44,521 68,756 Peninsula Tin .. * • 53,367 N.Z. and Australian Land 127,038 ., 56,522 Union Oil, Soap and Candle 4,366 4,874 Sanford, Ltd. 3,794 5,084 *Not available. Company Losses Molyneux Gold, £7642.

London Metal Quotations Oct. 27. Nov. 3.' Copper— £ s. d. £ s. d. Standard, spot 46 15 .7* 45 13 9 Forward 46 19 4i 45 16 10£ Electrolytic ... 53 5 0 51 10 0 to 53 10 0 52 10 0 Wire bars .. 53 10 0 52 10 0 Lead — Spot 16 10 1i 15 15 7§ Forward 16 13 lit 15 19 4£ SpelterSpot 15 8 9 14 9 4J Forward 15 9 4i 14 14 4J Tin— Spot 211 12 6 212 2 6 Forward ,. 212 12 6 213 2 6 Silver — Fine, per oz 19gd 19|d Standard, . per oz . 21 3-16d 21 3-16d Gold (fine ounce). 7 5 7 7 6 1J