COMMERCIAL

Press, Volume LXXVII, Issue 23362, 23 June 1941, Page 9

COMMERCIAL

ELECTROLYTIC ZINC

NEW ISSUE

PROCEDURE FOR N.Z. HOLDERS

EXPLAINED

(P.A.) WELLINGTON, June 21. The Reserve Bank of New Zealand announces that the Stock Exchange Association is being advised that with regard to the, new issue of Electrolytic Zinc shares to existing holders, arrangements are being made on the following basis to enable New Zealand holders who so desire to take up their rights:— (1) Holders may at discretion use either the Australian balances held by them or the proceeds of the sale of Australian marketable investments other than Electrolytic Zinc Company (Australasia), Ltd. shares. (2) Holders who have no other marketable Australian Investments or balances will be allowed to remit from New Zealand. (3) Holders whose other investments and balances are together insufficient to provide the requisite amount, will be allowed to remit the difference. Persons who, for the purposes of the above arrangement, desire to dispose of their Australian securities, should consult their brokers. If they desire to operate on their accounts in Australia, whether by cheque or other authority, they should apply to their bankers for the necessary certificate. If they desire to remit from New Zealand they should apply for a permifthrough their bankers. If the reason for application is that the applicant has since June 18, 1940, voluntarily remitted funds to New Zealand from Australia, that fact, together with the amount, should be stated, and such applications will be treated on their merits. In addition, holders of Electrolytic Zinc shares who desire to acquire rights of which other New Zealand holders are willing to dispose will be allowed to do so on condition that they can provide the amount payable in Australia in respect to such additional rights, as well as for the rights to which they are directly entitled out of the proceeds of their balances or other securities in Australia. The Reserve Bank will consider applications to retransfer to Australia for the above purposes amounts voluntarily transferred to New Zealand since June 18, 1040, if the applicant’s financial position in Australia justifies such a course.

The amounts payable to New Zealand holders must be paid in New Zealand currency. This procedure is on the same lines as adopted for the recent issue of shares made by the Broken Hill Proprietary.

FRUIT AND VEGETABLES

GROWERS’ REPORT The weekly growers’ report on prices for fruit and vegetables Is as follows: Apples (a bushel case), Delicious 4s to 6s, Stunners 3s 6d to 5s 6d; Wolseleys 4S to 6s. Ballarats 8s 6d to 5s 8d; pears. Winter Cole 3s fid to 6s fid a case; grapes, 4s to 4s 8d per lb; tomatoes, is 4d to is 5d per lb; spinach, 2s to St fid a dozfa bunches: cauliflower, best gs to 12s a dozen, others 3s to 7s; cabbage, best 4s to 7s a dozen, others la to St; lettuce, outside 2s to 3s fid a dozen, hothouse 3s fid to 4s fid: brussels sprouts, 4d to 5d per lb: leeks, 2s to 4s fid a dozen bundles; pumpkins, id per lb: marrows. 2s to fis a dozen; beetroot, Is fid to Is 9d a dozen bunches, 2s fid a tin: carrots and parsnips, 3s to 4s a sugar-bag: onions, 5s to fis fid a sugar-bag; rhubarb, 7s to Bs a dozen bundKs; swedes, Southland 2* fid to 3s a 4Us*r-bag; potatoes, 4# Bs a sugar-bag. A shipment of bananas and Australian oranft? is expected shortly.

MINING REPORTS

Snowy Rivet Dredge—The return last week was 84ioz fr*m 27,000 yards in 130 hours. Argo Dredge—The return last week was 370z from 11,000 yards. In 120 hours. Blackball. Creek Dretee—Tfae return Jest week wee 30oz in 111 hours.