COMPANY NEWS

Press, Volume LXXXIII, Issue 25243, 23 July 1947, Page 5

COMPANY NEWS

CHRISTCHURCH GAS COMPANY’S DIVIDEND At a meeting of the board of directors of the Christchurch Gas, Coal, and Coke Company, Ltd., held yesterday, an interim dividend of 2- per cent, was declared for the half-year ended June 30. The share transfer books of the company will be closed from July 28 to August 11, both days inclusive.

CONSOLIDATED BRICK AND PIPE INVESTMENTS

" The Press ” Special Service AUCKLAND, July 22. With net earnings just over double those of the previous year. Consolidated Brick and Pipe Investments, Ltd., is proposing an increased dividend of 3J per cent, for the last year. The directors are also submitting a preference capital scheme to shareholders at an extraordinary meeting next month. The net profit for the year was £25,059, an increase of £12.877. The proposed dividend for the year is 3J per cent, against 2 per cent, last year. The dividend requires £19,555, leaving £5504 to increase the carry forward to £14,691.

To meet the expanding requirements of the company the directors have obtained the consent of the Minister of Finance to an increase in the capital of the company and to the issue of increased shares. The directors propose that the new capital should be in the form of 150.000 new £ 1 preference shares, bearing a fixed cumulative dividend of 4-1 per cent.

RESERVE BANK

WEEKLY RETURN (P.A.) WELLINGTON, July 22. The Reserve Bank return for the week ended July 16 discloses no variations of any importance. Details, with the previous week's figures in parenthesis, are:— Liabilities.—General reserve fund, £1,500,000 (same); bank notes, £47,144,290 (£47,155,401); demand liabilities: State, £11,050,918 13s lid (£12,186,822); banks £57,748,991 (£57,126,807) pother, £431,349 (£273,040); liabilities in currencies other than New Zealand, £34.717 (£33,555): other liabilities. £3,146,830 (£3.148,851). Total, £< N.Z.) 121,057.096 (£121,424,475). Assets.—Gold, £2,801,878 (same); sterling exchange, New Zealand currency, £9 n .234,073 (£90,712,002): subsidiary coin, £45.433 (£46,549); advances to State marketing organisations, £167,091 (£147,764); for other purposes, £23,045,961 (£23,000,000); investments, £3,868,093 ise’me); other assets, £894,558 (£848,190). Total, £( N.Z.) 121,057,096 (£121,424,475). Proportion of reserve to notes and other demand liabilities, 79.914 pel' cent. (80.074 per cent.).

STOCK SALES

TEMUKA “ The Press ” Special Service TIM AR U, July 22. Fully 100 head of fat cattle were penned at yesterday’s Temuka sale. Competition was firm throughout and values remained unchanged on recent sales. Extra prime heavy steers made to £2l 2s 6d to £24 2s 6d. prime heavy £l7 2s 6d to £l9 17s 6d, light to medium £l2 2s 6d to £l5 17s 6d, prime heifers £l2 17s 6d to £l5 2s 6d, light to medium £lO 2s 6d to £l2 7s 6d, prime heavy cows £l3 2s 6d to £l5 7s 6d, light to medium £8 2s 6d to £ll 2s 6d, empty cows £3 17s 6d to £6 12s 6d, springing cows and heifers £l2 to £2l. The two races of fat sheep comprised quite a number of prime ewes and wethers. Competition was keen and an excellent sale resulted. Extra prime heavy ewes made 47s Id to 51s 4d, prime heavy 44s 4d to 46s Id, light to medium 28s Id to 35s 4d. extra prime heavy wethers 48s lOd to 56s lOd, prime heavy 44s Id to 46s lOd, medium to 39s lOd. The small yarding of store sheep in-. terested a large number of farmers and competition was very keen. Good Romney cross ewe hoggets sold to 37s 3d, medium to 275, four, six, and eight-tooth Romney cross ewes (late shorn) to 38s 9d, fullmouth to 36s 6d. Values for the penning of pigs appreciated fully 5s a head on recent sales. Best weaners made 28s to 345, medium 22s to 265, slips 35s to 38s, stores 45s to 525. light baconers to £5. TINWALD SALE There was a large yarding at the Tinwald stock sale yesterday, prices being on a par with those obtained at the last two sales. Wethers made from 37s to 40s for medium quality, from 41s to 44s 6d for prime quality, and from 45s to 50s Id for extra prime quality The top price was obtained by J. W. Riley (Valetta) for four fat wethers Ewes realised up to 32s for lightweights, from 34s to 37s for medium weights, from 38s to 41s Id for prime quality, and from 43s to 47s 7d for extra prime quality. Seven at the top price were sold on account of R. J. Gallie (Eiffelton), as well as 20 at 45s Id. Four fat lambs were sold at 36s 4d 6 at 34s Id, 6 at 33s 7d, and 5 at 32s lOd. Three fat steers made £l2 7s 6d, and 2 made £ll. One cow sold for £4. RANGIORA Mixed sex hpggets brought up to 24s at the weekly stock market at Rangiora yesterday. A fair yarding of cattle met with a good demand, springing heifers realising from £l7 to £25, and springing cows from £l4 to £2O. No pigs were forward LORNEVILLE (PA.) INVERCARGILL. July 22. Yardings were full in all sections except store cattle at the Lorneville sale to-day. Prices in most sections were firm on last week’s rates, but there was a drop of 2s in the fat sheep section. Heavy-weight wethers were easier by about 2s a head, but medium and lightweights and all classes of ewes remained unchanged. Heavy-weight wethers made from 62s to 655, medium-weights from 56s to 60s, handy-weights from 50s to 53s 6d. light-weights 45s to 50s, small and unfinished 38s to 425; good quality maiden ewes, to 49s 6d: heavy butchers’ ewes, 44s to 46s 6d; medium quality 38s to 425, lightweight 30s to 345, inferior from 22s to 255. The fat cattle sale opened firmly at last week's rates and these continued throughout. Extra prime heavy bullocks made to £29. prime quality bullocks from £22 to £24, medium-weight bullocks from £l7 10s to £2O. and lighter sorts from £l4 to £l5 10s: prime quality heifers to £lB 10s. good quality from £l4 10s to £l6, light from £ll to £l2 10s: prime heavy cows to £l7 10s, good quality from £l4 10s to £l6, lighter from £ll to £l2 10a.