COMMERCIAL

Press, Volume LXXVIII, Issue 23752, 25 September 1942, Page 6

COMMERCIAL

STOCK EXCHANGES LOCAL MARKETS MORE ACTIVE Operators were more active on the Christchurch Stock Exchange yesterday. There was an increased turnover at the official calls and subsequently vestibule business swelled the volume of completed orders. Government stocks, in common with other sound investment stocks, were in keen demand, several sales taking place on a par with late reported business, other than in the 3 per cent. Liberty Loan, 1955, which advanced to £9B 17s 6d (ex interest), as against the last recorded business locally at £9B 12s 6d. The banking section was quiet as also were loan and agency and shipping. National Insurance changed hands at 20s 6d, at which price last sales were reported. New Zealand Refrigerating Company (fully paid) shares advanced to 21s 9d, sellers remaining In at this figure, with no declared sellers. Kaiapoi Woollens were down on last business. realising 19s 3d for the fully paid shares. In the miscellaneous section. Booth, Macdonald, preference, were sold at 6s 9d, and New Zealand Farmers first preference shares appeared in the sales list at 63s (ex interest), this being the first transaction recorded in this stock for some time past. Amongst the mining stocks, the only business reported was in Arahuras, which changed hands at zos 9d Apart from vestibule business, the following transactions were recorded:— Sales on ’Change: Listed Stocks.—£2so N.Z. Govt.. 4 p.c. stock, 1949, £lO4 10s. £265 N.Z. Govt., 4 p.c. stock 1955, £lO7 ss; 200 N.Z. Refrig. (£1 pd.), 21s 9d. 100 Booth, Macdonald (pref.), 6s 9d. 200 N.Z. Farmers' Co-op. (first pref.). 63s (2). Sales Reported: Listed Stocks.—£looo Liberty Loan, 3 p.c., 1952-55. £9B 17s 60. 200 National Insurance. 20s_6d, 3001 Kaia poi Woollens (17s pd.), 19s 3d, 200 Arahura, 26s 9d.

AUCKLAND Sales.— Liberty Loan, 3 P-Cj. (2), £9B 15s; Auckland Harbour Boaro, 9/7/60, 41 p.c., £lO9 ss; Auckland Gas perpetual debentures, £81; Amalgamated Brick (Auckland). 6 P-c..3^3/44 Amalgamated Brick Wellington), 31/3/44. fine £lO3 10s; Bank of N.Z. (O mort.j. 3IF Westport, 25s 3d; N.Z. Breweries. 33s 9d, 33s lOd; Broken Hill Pty., 38 s; Consolidated Brick. 7s 3d; Fanners’ Fertiliser, 16s 9d; New Zealand Refrigerating, 21s 6d, Arahura* 26s 9d. Aranura* * weIU NGTON 1 Sales. —Stock, 15/9/52-55. 3 6d. £9B 15s; Bank of N.Z., Ms; Natl. Bank of Australasia (£5), £5 10s; N.Z. Refr gating, 21s 6d; Macduff s (pref.), 17s 3d, Broken Hill, 38s. DUNEDIN

Sales Reported.—Bank of N.Z. (late sale on Wednesday). 39s 6c * : , £7; Westport Coal, 25s 3d; National Insurance, 30s 7id.

SYDNEY A strong market persisted on the Sydney Stock Exchange yesterday, though business was rather restricted. I Sales.—Henry Jones, 48s 9d; Colonial Sugar £47 15s; Felt Textiles. 38s 3d; Bank of New South Wales. £26; Toohey’s, 265; Anthony Hordens. 15s; Self ridges, 17s 6d; Lustre, 18s 6d; Broken Hill Pty.. 375; Australian Consolidated Industries, 475; Australian Iron and Steel, pref., 28s; Associated News., 9s 6d. The produce market was unchanged. N.Z. FARMERS’ CO OP. YEAR NET PROFIT OF £64,281 DIVIDEND PROPOSALS The sixty-first annual report and statement of accounts of the New Zealand Farmers' Co-operative Association of Canterbury. Ltd., for the year ended July 31. 1942, states that the net profit for the year amounted to £64,281, which the dlrectors propose to deal with as follows (shillings and pence omitted):— £ Dividend of 4i per cent, on First Preference Shares .. . ■ 6,750 Dividend of 4 per cent, on "A” Preference Shares .. .. 8,000 Dividend of 4 per cent, on "B" Preference Shares .. • • 3,440 Dividend of 2 per cent, on Paidup Capital of ordinary shares 2,294 Transfer balance to Provision for Taxation Account .. •• 43, <97 £64,281 Items from the balance-sheet show that the capital paid up is £541,480, secured deposit stock account £657,368, amount at credit of current accounts £260,327. sundry creditors £84,917; and general reserve £21,369. Property and assets included stock of goods £287,883, advances against land, stock, etc., £268,850, and sundry debtors (goods, auction and motor accounts) £134,133—£402,983 (less reserves £79,061) £323,922, War Loan and inscribed stock £130,225, short date investments £234,377, bank credit and cash in hand £42,518. Freehold and leasehold property is set down at £396.009, and the reconstruction account stands at £175,000,

The gross profit for the year was £244,351. Salaries, wages, general expenses, rates and taxes, expenses at head office, branches, etc., were £165,723, directors’ fees £2OOO, depreciation of buildings and plant £11.638. The directors retiring by rotation are Messrs W J. Anderson, S. P. Godfrey, G. Mangels, and James Talt, and being eligible, offer themselves for re-election. The annual meeting of shareholders will be held at the Association’s headquarters, Cashel street, on Saturday, October 10. MINING Slab Hut.—The returns from this dredge for the week ending September 18, 1942, was 17oz from 14,840 yards in 99 hours. The dredge is turning out of Little Grey wash into Slab Hut wash. Rlmu Gold Dredge.—The return for the clean up period from September 8 to September 22 was 247.50z from 72,501 yards in 235} hours. Slab Hut Dredge.—The return for the week ended September 18 was 17oz from 14,840 yards In 99 hours. The dredge is, turning out of Little Mary river into Slab Hut wash. National Insurance Company.—At an extraordinary general meeting of the National Insurance Company, Ltd., the memorandum and articles of association were amended in accordance with the recent' circular to shareholders.—(PA*>