INVESTMENTS OVERSEAS

Press, Volume LXXVI, Issue 23086, 31 July 1940, Page 6

INVESTMENTS OVERSEAS

SALE OF SHARES IN DOMINION NEW CONDITIONS ARE ANNOUNCED If BBS* (SSOCIITTOV rBLInBAU. ' WELLINGTON. July 30. The Reserve Bank states that holders of foreign securities as defined in the Finance Emergency Regulations. 1940 (No. 2) are reminded that particulars of all such holdings must be notified to the Reserve Bank by to-morrow. r As from Monday, August 5. and until further notice, dealings will be allowed in such securities between New Zealand residents as follows: (1) Securities on New Zealand registers. These securities can be dealt in without prior permission, provided they were on the register on June 18, 1940, and the company concerned , agrees to fulfil the following requirements. First, to furnish th’o Reserve Bank with a list of shareholders on - the New Zealand register on that . date; second, to furnish a similar list annually; third, to decline to register a transfer of shares into the name of a person not ordinarily resident in New Zealand at the time; i fourth, to refuse to transfer any shares to another register without permission of the Reserve Bank unless required to do so to comply _ with the law of the country of domicile of the company. (2) Securities registered overseas: Before these securities can be dealt in it will be Recessary for the selling broker to obtain permission from the Reserve Bank. A special form for this purpose will be supplied to stock exchanges. Permission to deal In both classes of securities is subject to a further condition that the form recording the transaction is completed by both selling broker and buying broker and is returned by the latter to the Reserve Bank on completion of the transaction. These forms are also being supplied to the stock exchanges. Sales of securities otherwise than to New Zealand residents will require special permission from the Reserve Bank. In such cases the proceeds received overseas must be remitted to New Zealand through agents nominated by the Reserve Bank for the purpose. QUEENSLAND NATIONAL Bank The Queensland National Bank, Ltd., . shows a net-profit of £88,031 for the year ended June 30, an Increase of £6339. Dividend, which has been increased gradually for several years, is raised ■ from 4| per cent, to 5 per cent. The . amount of the dividend is £87,500, leaving £22,087 to be carried forward, against £21,538 brought forward. ■ Year ended June 30, 1938. 1939. 1940. £ £ £- Net profits .. 79,170 01,692 88,031 Dividend, p.c. :. 4J 4f 5 Dividend, amt 78,750 80,837 87,500 Forward .. ' 20.801 21.538 22,087 MILFORD DAIRY [Prom Our Own Reporter,] TEMUKA, July 30, . An increase in. production Is reported in the twentieth annual report of the. Milford Co-operative Dairy Company. The estimated season aver- ’ age pay-out per lb for butter-fat (all grades), which was quoted in the report for the previous year, 18.497 d, was maintained. In respect of vthe current year, the valuation basis adopted for cheese on hand at balance date waa 9d per lb: estimated .average pay-out per lb. (all grades) for butter-fat from the disposal of the unsold cheese at the value adopted should be Is e..987d. The directors recommended in the report that a dividend on paidup capital at 4 per cent, be declared, ' and that the balance of appropriation account be'carried forward. Following are the statistics (with last year’s figures, in parentheses) out current year per lb of butter-fat surplus, 5d (4isd);.' number of suppliers 44 (38); lbs of milk received, 5.893.902 (5,330,1301b); lbs of butterfat, from milk, -218,812.9 (200,275.4); average test of milk, 3,7125 (3,7574); total- charges, 4.069 d, (3.886 d). , ■ ’ Cheesemaking Pounds of milk. 6.883.903 (5,330,130); pounds of butterfat from milk. received over stage, 218.812,9 (200.275.4); average butter-fat test of milk 3.7123 (3,7874): pound? Of , milk to make lib ■ cheese, 10.793 Q0,52H): pounds of cheese to 11b but-ter-fat 8.8185 (2.8294); average grade of cheese 92,99 (none graded); milk grading Jirst 89.5583 (98.6820); second, .4417 (.3380). i DUNEDIN RABBITSKIN j SALE / ALL SECTIONS OF TRADE y. COMPETE ' fIHE PRESS Special Service] . DUNEDIN. July. 30. ■ There was‘a good, attendance of exporters, furriers and - the local trade at to-day’s rabbitskhrauction, when an offering of approximately 64 tons was submitted- Competition, was excellent, all sections of the trade being interested. Good orders wefe again on the market for New York/ and New Zealand furriers operated on lots suitable for their requirements. It was noticeable that as the sale progressed the market firmed, values for fumers sorts being slightly better compared with previous quotations, Bucks on an. average sold on a par while does were par to a shade firmer. Hatters 1 descriptions sold particularly well, and advanced on an average by 2d to 4d per lb. Some good parcels of winters were offered, but from now on* the quality of the skins will be going off owing to the mildness of the season. First bucks, sold to 123 d, second bucks to 117 d,' first early bucks to 100 d, • and first, does to 85Jd: The official range of prices is as fol-lowsj-r-SmaU, 18id to 23d per lb; runners, 29id to 31d; racks, 34Jd to 36d; ' summers, 321 d to 37d; first early autumns, 41d to 44jd; first late autumns, 48d to' Slid; first incomings. 69d to 75d; second incomings, 60Jd to 66d; first early i winter bucks; 85d to 300 d; first early winter docs, 63d to 75d; spotted winter bucks, 35Jd to lOld: spotted winter does, 66d to 09d; sec«Hd winter bucks, llld to U7d; second second winter does, 73id to 76d; first winter bucks, -J2od to 123 d; first .winter does. Sld .to 85Jd: - outgoing winter ’bucks/80}d ; to 88Jd; 'outgoing winter does, Gsd to fi3d; furrier doe>;s7Bd to: A7BdF spring' bucks, 59d to TSidr Spring £dbea;^4Bid r: 47Jd ;■ teiSOd: ;flrst milky. jTOld .to ,44d; milky,: . Bid to ,'36i4r summ’er broken; 30d to SB4d;nutumn br<3ken, 33d to 37Jdj secYY IY-*V- -