COMMERCIAL

Press, Volume LXXVIII, Issue 23750, 23 September 1942, Page 4

COMMERCIAL

STOCK EXCHANGES MAKKET STILL QUIET There was no material change in prices on the Christchurch Stock Exchange yesterday. Buyers still declared strongly for Government and other good investment stocks. No business was ' recorded on the official calls and the only sale recorded off exchange was in Broken Hills, which changed hands at 37s 9d. AUCKLAND Sales. —War Loan, 1/10/53, £92 ss; War Loan, 1/8/51-54 3 p.c„ £99; Liberty Loan. 15/9/52-55, 3 p.c., £9B 12s 6d (2); Stock, 15/1/53-57, 3J p.c.. £lO3 10s; Stock, 15/6/5255. 4 p.c., £lO7 ss; N.Z. Insurance. 71s; Auckland Gas, 6s 4d; Colonial Sugar, £SO; N.Z. Newspapers (div.), 335; Wilson’s Cement, 17s 3d: Waihi Investment, 3s 2d; Broken Hill South, 245. WELLINGTON Sales.—Stock, 15/9/52-55, 3 p.c., £9B 12s 6d, £BB 15s; Wellington Woollen (ord.), £7 ss; New Zealand Insurance, £3 11s; N.Z. Newspapers (ex div.), £1 13s. DUNEDIN Sales Reported (late on Monday).—National Bank of Australasia (cont.), £5 10s; Bruce Woollen (ord.), 255. RESERVE BANK

STATEMENT OF ASSETS AND LIABILITIES

(P.A.) WELLINGTON, September 22. Following is a statement of assets and liabilities of the Reserve Bank of New Zealand at the close of business on September 14, with the corresponding figures in the previous statement in parenthesis: Liabilities.—General Reserve Fund, £1,500,000 (£1,500,000); bank notes, £20,741,601 (£20,884.279); demand liabilities: State, £10,397,021 (£11,115,765); banks, £21,401,010 (£21,134,104); other, £655,798 (£005,001); liabilities in currencies other than New Zealand currency £15,401 (£13,696); other liabilities, £1,240,436 (£1,250,360). Total, £(N.Z.161,951,267 (£62,503,206). Assets.-—Reserve: Gold, £2,801,878 (£2,801,378); sterling exchange expressed in New Zealand currency, £25,183,609 (£25,667,780); subsidiary coin, £42,988 (£44,313); advances to the Marketing Department, £0,014,132 (£6,103,778); advances for ether purposes, £22,300.000 (£22,300,000); investments, £4,146,340 (£4,146,340); other assets, £1,462,320 (£1.429,112). Total, £ (N.Z.>61.951.267 (£62,503,206),

Proportion of reserve to notes and other demand liabilities, 47.250 per cent. (47.650 per cent,).

COMPANY NEWS Milburn Lime Company.—The anqual report of the Milburn Lime and Cement Company, Ltd., states that the profit and loss account, after writing off depreciation and making' provision for income tax for the current year, shows a credit balance of £10,562 14s Bd, including the sum of £1963 14s 5d carried forward from last year. An interim dividend of 2 2-3 per cent, was paid on March 25, 1942, amounting to £6666 13s 4d, leaving a balance of £3896 Is 4d to be dealt with. The directors recommend that this balance should be appropriated as follows:—Payment oi dividend of 1 1-3 per cent, for the six months ended July 31, 1942, making 5 per cent, for the year, £3333 6s 8d; balance to be carried forward to next year, £562 14s 8d; total, £3896 Is 4d.

Hume Pipe Company.—After providing £29,000 for taxation, Hume Pipe Company (Aust.), Ltd., earned profit of £22,549 for the year to June 30, compared with £31,163 in the year before (taxation £17,500). Directors recommend final preference dividend of 33 per cent., making 7J per cent, for year, and yearly dividend of 2\ per cent, (last year 4 per cent.) on ordinary shares. Dunlop Rubber Profit.—Directors of Dunlop Rubber, Aust,, Ltd., have announced that profit for the year to June 30, subject to audit, was £381,444. This compares with profit of £427,745 in the previous year, and with £439,598 (a record) in 1939-40. It has been decided to recommend payment of 5 per cent, on cumulative preference shares for the year and 2i per cent, on ordinary shares, making 5 per cent, for the year. Ordinary distribution in the previous four years was 7 per cent. Preference and ordinary dividends for the 12 months will absorb £281,282.

Mataki Junction Gold.—Loss incurred by Matakl Junction Gold Dredging N.L. for the year to June 30 was £197, mainly represented by interest on the debenture. Deficiency carried forward is £44,109. The company’s principal asset is 34,000, 5s shares, fully paid, in Slab Hut Creek Gold Dredging Company, Ltd., which began operations in May.

COMPANIES REGISTERED The registration of the following new companies appears in the current issue of the “Mercantile Gazette”:— Waller and Lucas, Ltd., registered as a private company. September 3. Office: Colombo street, Christchurch. Capital: £6600 in shares of £1 each. Subscribers: Christchurch—G. N. Waller 3000, G. T. Lucas 2000, C. C. Davis 1000, J. M. S. Whitcombe 600. Objects: To deal in land, buildings, and incidental.

W.W.T., Ltd., registered as a private company, September 8. Office: Latter street, Timaru. Capital: £250 in 170 A shares and 80 B shares of £1 each. Subscribers: Christchurch—H. T. Tldswell 126 A. 15 B. Timaru—W. A. Field 20. B. C. W. Wood, iun„ 10 A, 10 B, D. J. McBeath 10 A. 25 B, W. J. Brehaut 24 A Timaru Gold Band Taxis, Ltd., 10 B. Objects; Engineers, manufacturers, and incidental. Blenheim Builders, Ltd,, registered as a private company, August 12. Office: Office of O. A. Webb, public accountant, Alfred street. Blenheim. Capital: £I2OO in shares of £1 each. Subscribers: R. V. Bythell 100, F. E. Bythell 100, J. A. Wemyss 100, C. A. Wemyss 100, J. Fawcett 200, A. R. Cresswell 200, D. M. Wemyss 200, J. Waters 100, H. W. J. Waters 95, V. N. Waters 5. Objects: Timber merchants, sawmillers builders, and incidental. McCallum (A.) and Company. Ltd., registered as a private company, August 28. Office: Grov? road, Blenheim, Capital. £IO,OOO in shares of £1 each. Subscribers: A. G. McCallum, J. B. McCallum, H. McCallum, A. McCallum, 2500 shares each. Objects: Flourmillers and incidental. .MINING Austral Mining.—For the fortnight ended September 19, the dredge worked 233 hours and washed 184 ounces of gold.