COMMERCIAL

Press, Volume LXXVIII, Issue 23799, 19 November 1942, Page 6

COMMERCIAL

STOCK EXCHANGES MARKETS AGAIN FIRM Markets continued firm on the Christchurch Stock Exchange yesterday, when sales of several stocks were made at higher prices. Transactions were recorded;— . . . , . - n Sales on ’Change.—Listed Stocks. 50 National Bank of New Zealand, 46s 9d; 100 Bank of New Zealand (ex diy.), 40s lOd; 207 Christchurch Gas, 22s lid; 100 New Zealand Breweries, 365. Sales Reported.—Listed Stocks: 366 Commercial Bank of Aust., 15s 2d; 100 Bank of New Zealand (ex div.). 40s lOd, 500 Woolworths, Ltd., 15s 9d (2); 100 Woolworths. New Zealand (late sale Tuesday), 15s- 100 Woolworths, New Zealand, los; 100 N.Z. Drug Co„ 82s. Quotations 2i p.c. Ins. stock, 1/8/46, b. £9B 10s; 2J p.c. Ins. stock, 15/9/47, b. £9B; 4 p.c. Ins. stock, 31/5/54-58, b. £IOB 15s; Comm, of Australia, b. 15s Id, s. 15s 3d; National of Australasia, b. £5 10s, s. £5 15s; New Zealand, s. 41s; Union, b. £7 7s 6d, s. £7 15s; National, b. 21s Id; New Zealand b. 745; South British, b. 63s 9d; Chen. Building, b. £l7 10s; Goldsbrough, Mort, b. 26s 9d; N.Z. Guarantee Corporation, b. 3s; United Building, s. 21s 9d; P. and 0., b. 41s; Union (pref.), b. 29s 4d, s. 30s 3d; Canterbury Frozen Meat, b. £l2 15s, Canterbury Frozen Meat (pref.), b. £7 12s 6d; New Zealand Refrigerating (£1 paid), b. 24s 6d; New Zealand Refrigerating (10s paid), s. 11s; Felt and Textiles. b. 38s 6d; Kaiapol (17s paid), b. 18s 9d: Kaitangata, b. 32s 9d; WestportStockton, b. 2s 4d, s. 2s 8d; Chch. Gas, b. 22s lOd, s. 23s 6d; Ballins Breweries (15s paid), b. 12s. s. 14s 2d; New Zealand Breweries, b. 35s 9d, s. 365; Beath and Company, b. 22s 9d; British Tobacco, b. 42s 9d; Broken Hill Pty.. b. 395, s. 39s 6d; Colonial Sugar, s. £52 12s 6d; Donaghy’s Rope. b. 51s; Electro. Zinc (pref.), b. 50s; G. J. Coles, s. 565; Hume Pipe (Aust). b. 11s; Milburn Lime, s. 355; Morris Hedstrom, b. 21s 6d; Macduffs (pref.), b. 18s; National Electric, b. 24s 6d; N.Z. Drug, b. 82s; New Zealand Farmers Fertiliser, b. 17s 9d, s. 18s 3d; New Zealand Newspapers, b. 345; Woolworths. Ltd., s. 17s 8d; Woolworths, N.Z., b. 14s lOd, s. 15s 3d; Broken Hill South, b. 24s 6d, s. 25s 4d; Mount Lvell, b. 28s 9d; North Broken Hill, b. 455; Grey River, b. 13s 4d, s. 15s; Ngahere, b. 6s. s. 7s; Snowy River, b. 6s Bd, s. 6s lid. AUCKLAND Sales,—Commercial Bank, 15s 3d: New Zealand Insurance. 74s 3d; Stock, 15/9/5760, .£lOl 10s; Stock, 15/1/53-57, £104; Auckland Electric Power Board, 15/6/59, £110; South Bntish Insurance, 645; Felt and Textiles. 40s (2); Dominion Breweries, 29s 9d; Stock, 15/4/46-49, £lO3 2s 6d; Waitemata Electric Power Board, £IOO 10s; Kaiapol Woollen, 19s; Burns, Philp, 545; Reid Rubber, 245; Woolworths Properties, 25s 3d; Broken Hill South, 265; War Loan. 1/10/L-3, £93. WELLINGTON Sales.—Late Tuesday: Macduffs (pref.), 18s 9d; Woolworths (N.Z.), 14s 10d; N.Z. Paper Mills, 34s 3d. Yesterday: Stock. 1954-58, 4 p.c., £IOB ss; Stock. 1952-4, 3 p.c., £99 ss; N.Z. Paper Mills, 34s 6d; Woolworths (N.Z.). 14s lid. DUNEDIN Sales Reported.—Wright, Stephenson (ord.). 20s 9d; Woolworths (Sydney), los 9d (2); N.Z. Drug (40s paid). 82s; Standard Insurance, 70s; Westport-Stockton (ord.), 2s 7d (2); Woolworths (ord.), Hs lid; Broken Hill South, 25s 6d; N.Z. Paper Mills, 34s 3d. WESTLAND BREWERIES, LTD. NO DIVIDEND THIS YEAR “The brewing industry in New Zealand has experienced a very difficult period,” states the annual report of Westland Breweries, Ltd. "Apart from the difculty of carrying on a business of this character during the extraordinary disturbed conditions occasioned by the war, the Government In May last, decided to advance the beer duty by Is a gallon, making an overall duty of 3s a gallon. At the same time, the gravity was reduced from the prevailing standard of 1047 to 1036. Recently, a Government cut of 25 per cent, of the sugar used In brewing was also imposed. These radical changes necessitated considerable alteration in brewing methods in order to comply with these provisions. “The gross profit for the year after paying for materials, wages, and beer duty is £24,550 15s 7d. The net profit is £9900 13s sd. "After setting aside £7304 4s 2d for income tax, social security charge, and national security tax, and taking Into account the debit balance of £1530 7s 8d from last year there is a balance of £1066 Is lOd to be carried forward for next year’s account,” the report says "In view of the troublesome times through which we are passing because of the war, and to the large amount required to meet taxation the directors decided it was not advisable to recommend payment ol a dividend."