COMMERCIAL

Press, Volume LXXXIII, Issue 25362, 9 December 1947, Page 8

COMMERCIAL

STOCK EXCHANGES GOVERNMENT STOCK ACTIVE Apart from activity in the Government loan section, markets opened the week on a quiet rate, and business was restricted to a few stocks. Quotations for National Bank of Australasia, 12s 6d paid, revealed a weaker market. In the miscellaneous groups, Macduffs dropped Is to 60s. In other sections price levels were well maintained. DOMINION TRANSACTIONS CHRISTCHURCH

AUCKLAND Sales.—ls/6/47-49. 24 per cent. (£1000), £lOO ss; 1/8/51-54, 3 per cent. (£850). £lOO 12s 6d; 15/12/53-56, 3 per cent. (£500), £101; 15/2/55-58, .3 per cent. (£800), £lOO 6s 3d; 15/4/56-59. 3 per cent. (£1000), £99 17s 6d; 15/11/57-60. 3 per cent. (£1495). £99 12s 6d; 15/V6O-M. 3 per cent. (£3000), £99 15s; 15/7/61-63, 3 per cent. (£1000), £lOO “s; 15/6/52-55. 4 per cent. (£325), £lO5 3s 9d; Auckland Harbour Board, 9/7/53. 41 per cent. (£200), £lO6 ss; Dominion Breweries (Ml). 735; New Zealand Insurance (SO). £5, South British Insurance (350), 90s 3d, Dalgety (50), £ll 3s 9d; F.A.C., £5 (50), £7 is 6d; Electro Zinc (200), 735; Farmers Trading (300). 39s 6d; Forest Products (200), 6s 6d: Silknit N.Z. (100). 325; Wilson's Cement (150), 18s 3d; United Provisions (200), 19s 6d; Rawang (100). 9s 90. Unlisted: Henderson and Pollard (100). 255; Korma, rights, late sale (500), 4s 6d.

WELLINGTON Sales.—Late Friday: Wellington City Councii, 41 per cent., 1/2/56 (£700), £i08; National Insurance, two sales (200), 24s 6d; Dalgety and Co., ex div. (50), £ll 3s 9d; Woolworths, Ltd. (300), 255; Macduffs, Ltd. (100), 60s; Wm. Cable and Co., 10s paid, ex div. (100), 21s. Unlisted stock: Whakatane Paper Mills, pref. (250), 30s. Sales yesterday: 2J per cent. 15/6/47-49, 2 sales (£520), £lOO ss: Woolworths, Ltd. (200), 255; N.Z. Ins. (100), £5; 3 per cent., 15/12/53-56 (£500), £lOl 2s 6ff; 3 per cent., 15/9/52-55 (£300), £lOO ss; 3 per cent., 15/4/56-59 (£500), £99 17s 6d; 3 per cent., 15/2/55-58 (£1000), £lOO 7s 6d; 3 per cent., 1/8/51-54 (£200), £lOO 12s 6d; 3 per cent., 15/11/57-60. 2 sales (£1130), £99 12s 6d; Silknit N.Z., Ltd. (100), 325; Macduffs, Ltd., 2 sales (300), 60s; Dunlop N.Z., Ltd., pref., cum dry. (150), 15s 6d; Wm. Cable and Co., 10s paid, ex div. (100), 21s; Woolworths Holdings. South Africa (100), 455: 3 per cent., 1952-55 (£500), £lOO ss; Macduffs, pref. (500), 29s 6d; Fletcher Holdings (200), 38s.

DUNEDIN Sales.—2J per cent., 1950-51 (£200), £99; Felt and Textiles N.Z., pref. (100), 28s. Sales reported: National Insurance, late sale (210), 24s 6d; Capel Court (600), 5s 3d; Jason Investments (200), 10s 6d; Millaquin Sugar (150), 55s Id: Winchombe. Carson (100), 38s lOd; N.Z. Malay Rubber, ord. (150). 6s; Macduffs (150), 60s; Silknit, N.Z. (100), 325. Unlisted: Korma, rights (300). 4s 7d.

INVERCARGILL Sales Reported.—Mount Lyell (300), 30s Id; Capel Court Investments (200), 5s 3d; Dunedin Breweries (50), 41s; Anthony Hordern (100), 30s 3d; Commercial Bank (207), 225; 3 per cent., 1955-58 (£5000), £lOO 7s 6d

OTHER EXCHANGES SYDNEY Irregularity in prices on the Sydney Stock Exchange yesterday seemed to indicate that the recent upward movement might be halted. No definite trends were indicated. Sales.—Bank of New South Wales, £37 ss; Howard Smith, 275; Huddart Parker 625; Queensland Brewery, 41s; Goldsbrough, 36s 6d; Wilcox, Moffiin, 19s; Mount Morgan, Ils 3d; Mount Lyell, 30s 9d; Zinc Corpn.. £7 17s 6d: Electro. Zinc. -72 s 9d; Broken Hill Pty., 56s 3d; Wellington Alluvials, 4s 2Jd; Kuala Kampur, 255; Loloma, 22s 3d; Ngahere, 9s 6d; OH Search, 7s 3d; Associated News., pref., 22s 6d; Bradford Cotton, 545; British Tobacco, 52s 9d; Colonial Sugar, £59 2s 6d; Claude Neon. 40s 6d; David Jones. 60s 6d: Felt and Textiles, 64s 9d. ; MELBOURNE ,-. S^£’’^atlonal Bank, 12s 6d paid, 20s Id, 20s paid, 31s 6d; Carlton Brewery. 765; Melbourne Steam, 31s 3d; Associated Pulp, 348 6d; Dunlop, 435; Howard Smith, 27s Id; N.Z. Forest Products, pref.. Us 4dSouth - 41s 3d; New Broken Hill, 475; Mount Morgan, Ils sd; Wellington Alluvials, 4s 3d. MINING Associated Gold Dredges.—For the week ended December 6, the company’s dredges J 3 ounces from 55,150 yards in I 246 J dredging hours. i

COMPANY NEWS REID RUBBER MILLS ACCOUNTS FOR THE YEAR “The Press” Special Service AUCKLAND, December 8. A steady profit is reported by Reid, New Zealand, Rubber Mills. Ltd., for the year ended September 30. The net profit is £253 higher at £21.288. Tax provision absorbed £31,623, against £39,130 in 1946. Surplus tax provision in past years, amounting to £1423, has been transferred to profit and loss account. The balance-sheet reflects large expansion. An unchanged dividend of 6 per cent, absorbs £20.845 on a capital which is now £370,000, against £13,875 on a capital of £249,978 last year. Dividends do not accrue on amounts which carry interest as calls paid in advance, and now total £76,881. Undistributed profits are £35,715, against £33,833 a year ago. While rubber has been readily available in ample quantities, the position in regard to some other vital materials has been exceedingly difficult, states the report of the chairman, Mr A. M. Seaman. In spite of the record production in the closing months of the year the company was unable, he says, to make up the whole of its lost business as mesaured in money, though the actual volume of goods manufactured and sold was again a record.

Renown Collieries' Accounts.—The net profit of Renown Collieries, Ltd., is £1037 higher at £17,486 for the year ended July 31. Provision of £8592 has been made for taxes, against £9348 last year, and £1793 is transferred to the general reserve, leaving £7lOO to meet the unchanged dividend needs of 7 per cent, preference and lOd a share on ordinary shares paid on October 4. The directors how recommend that these interim dividend payments be the final dividend for the year to the end of July last. Under the Waikato Coal Mines Control Emergency Regulations. 1942, the basis of the average net profit has been fixed and the settlement of the company’s claim made ’ by the Mines Department, the sum received from the Government being £44,114. The dividend from Waikato Carbonisation, Ltd., is again £l6OO. and is taken into the total income.—(P.S.S.) Claude Neon Profits.—A sharp rise of £5989 in the net profit to £18.530 is reported by Claude Neon Lights of New Zealand. Ltd., for the year ended September 30. This is a new record for the company. The dividend is unchanged at 7 per cent, (final 41 per cent.), the rate established last year, and absorbs £5905. The sum of £8748 Is transferred to the general reserve: now £25.000. Undivided profits are £13,913, against £10,036 a year ago. Tax provision is nearly doubled at £38,369, against £19,878 last year.—(P.S.S.)

EXTERNAL TRADE OF NEW ZEALAND

ANALYSIS OF YEAR’S FIGURES

As in the case of the first six months of 1947, Nevr Zealand's exports for the 12 months ended in June, 1947, have reached record proportions, records the current issue of the Abstract of Statistics, the value recorded being £25,540,599 (28 per cent.) greater than in 1945-46, and £58,322,544. or nearly-101 per cent., higher than in 1938-39. The value of imports for was. higher than in any other June year with the, exception of 194344, but it should be remembered that included in the total for the latter yeai were huge quantities of defence materials and equipment. The aggregate value of imports for the year ended in June, 1947. exceeded that of 1945-46 bv £28,375.859. or 45 per cent., while compared with 193839 there was an increase of £34.524.103 (61 per cent.). Volume indexes show exports of New Zealand produce for the year 1946-47 to b « a in Quantity—lB per cent, above the base year. 1938-39, and 131 per Previous year, 1945-46. The volume index for 1946-47 shows imports to have made a marked -recovery from the previous year (an increase of 30 * an< 2 h,ave reac hed within “ ? -k of ,he volurne or the base

s total exports ot if 1 r 2l^ W)O ln the year- £92.747,000 went mpire countries (United Kinedom £81,748.000) and £22.905.000 to foreign £in lncludln « United States £lo.BB6.ooo—an increase of £2.764,000 in „ months. Exports to France were vlous year. aSainSt £2 ' 511 ' 000 the preended to TnL tmp £Jj, s for the 12 months w ‘”

STOCK SALES DUVAUCHELLE As no store cattle were entered for the monthly cattle sale at Duvauchelle on Friday, the yarding was a small one, consisting of about 100 head. There were about 80 head of cattle in the fat pens and these sold well at ruling market rates. The highest price paid for steers was £23, for heifers £lB 15s, and fat cows £l7. There was 'a larger entry of springers than usual, and forward sorts sold at prices up to £22. There were a number of bulls in the entry. The range of prices was as follows:—fat steers, £2l to £23; very prime heifers, £l6 2s 6d to £lB 15s; prime heifers, £l2 17s 6d to £l4 7s 6d; extra prime cows, £l5 10s to £l7; prime cows, £l3 7s 6d to £l4 15s; light-weight cows, £7 15s to £l2 17s 6d; springers, £lO 10s to £22. according to quality; bulls, £3 15s to £7 12s 6d. SHAREMARKET INDICES London.—“ Financial Times” (1926 equals

Sales on ’Chanre* Variation. 2*,4 p.c., 1949-50 (£300) .. 99 15 0 — British Tobacco (200) (ex div.) ■• 2 13 0 Hadfields (ex div.). (100) 0 15 5 - 3d Macduffs (50: 100; 200) .. 3 0 0 Mount Lyell (100: 100) .. 1 10 0 Sales Reported 21 p.c., 1947-49 (£200) - ■ 100 2 « 3 p c., 1955-58. (£5000) .. 100 7 6 3 p.c.. 1956-59 (£300: *£500) .. •• 99 17 6 — 3 p.c., 1955-50 (£900; £2000) . ■■ l°0 7 « N.Z. Paper Mills (100) .. 2 5 9 N.C.

LATEST QUOTATIONS Buyers. Sellers. £ s. d. £ s. d. BanksAustralasia ■ — 11 7 0 Comm, of Sydney — 24 15 0 Nat. of A’asia (£1) — 1 11 6 (12/6) 0 19 9 1 0 1 National of N.Z.. c..d. —— 3 12 6 Union 11 0 0 Breweries Ballins. x.d. 1 18 6 1 19 6 Dominion, x.d. —• 3 14 6 New Zealand . — 2 16 0 Swan — 2 3 0 Coal--Taupri — 4 12 6 Frozen MeatCanterbury. x.d. .. — 16 10 0 Gear 1 15 0 — N.Z. Refrig., £1 pd. — 2 0 0 10s paid Southland 0 19 6 1 0 3 10' 0 0 Gas— Auckland 0 7 10 ——• Christchurch ! .. 1 6 6 — 10s paid 0 12 9 — Insurance— F.A.M.E. — 1 2 0 Pref. 1 4 6 — National 1 4 6 1 5 3 South British 4 10 0 — Loan and Agency— C.F.C.A., ord. 1 5 0 1 7 0 Dalgety — 11 5 0 Goldsb rough, Mor., x.d. 1 15 9 Invincible Build. .. 5 10 0 — Mutual Benefit 19 10 0 —- N.Z.F. Co-op. 0 10 11 First pref. — 7 7 6 “A" pref. 4 11 6 — 4 11 6 — 4’,i p.c. Stk., *50 — 103 5 0 4»'i p.c. Stk., *55 — 103 0 0 N.Z. Guar Corpn. 0 5 6 0 5 7 N.Z.L. and Mer. (ord.) —— 136 0 0 Perm. Investment 11 10 0 — Woollens— Felt and Textiles of N.Z. v .. — 2 17 6 Kaiapoi (pref.) 1 6 9 — Timaru 1 9 3 ■■ Wellington 10 2 6 •— MiscellaneousAlloy Steel (N.Z.) — 2 16 0 Andersons (pref.) 1 5 0 Aust. C.I. 3 4 0 3 6 6 Aust. Fd. Invest. — 0 6 7 Beath and Co. 2 12 6 2 14 6 (Is paid) 0 19 0 — Booth Mac., pref. — 0 13 9 Brit, Tobacco, x.d. 2 12 0 2 13 3 Broken Hill Pty. — 2 16 0 Canty, Flou'r 1 13 0 15 0 6 — Dom. Rubber 2 1 0 — Electro. Zinc, ord. — 3 13 6 Pref. — 3 13 6 Evans Atlas 1 6 0 — Hallenstein Bros. 1 12 0 1 15 6 Fletcher Holdings 1 17 0 1 18 0 Frozen Products .. 1 0 0 — General Industries —— 1 13 6 G. J. Coles —— 4 3 0 Hadfields 0 15 5 0 15 P Hays,, Ltd. N/F.P. 3 10 0 3 11 6 Howard, Smith 1 6 0 — Hume Pipe (Aust.) 1 8 0 —— I.C.I.A.N.Z., pf. .. 1 7 3 — Kauri Timber, x.d. —— 1 17 6 K.D.V. Boxes — 0 14 0 Macky Logan 2 3 6 — Mas. Struthers.'£ 1 paid 1 5 3 —— 14s paid 0 16 3 — 10s paid —— 0 13 0 M.K. Manufacts. — 0 14 3 Morts Dock 1 7 6 1 8 2 Macdufis 2 19 6 3 0 Pref. 1 9 0 — N.Z. Drug 6 0 0 N.Z.F. Fertiliser .. 1 11 8 N.Z. Forest Prod. — 0 6 10 N.Z. Paper Mills 2 5 • — Niven and Co. 2 0 0 Quill, Morris (1936) — 2 0 0 Relax, pref. 1 2 0 —— Sharland,' pref. 3 2 0 Taringamutu Tim. — 0 19 6 Taupo Totara 0 19 0 United Provisions —— 1 0 0 Whit, and Tombs 8 3 6 Wilson’s Cement 0 18 6 ' W’worths, ord. 1 5 0 W. R. Cook and Con 0 0 0 Zealandia Soap 0 16 9 — UNLISTED STOCK Amalg. Batteries 1 1 6 —— Pref. 1 0 6 •— Avon Metal 1 2 6 Marathon Rubber 1 7 0 Ch’ch. Press 13 5 0 Reece, Ltd., E., ord. 0 1 *0 Scales "C”, pref. x.d. 0 2 6 Whakatane Paper 0 7 6 0 8 0 Pref. 1 9 6

100) >— , Inds. Ord. Govt. Gold. January 31 . 134.7 120.52 129.51 February 28 132 119.82 13528 March 31 . 128.4 117.76 123.4 April 30 May 27 . 134.5 118.19 11972 . 134 9 118.61 114.71 June 29 . 133.1 116.87 115.58 July 30 . 122.5 113.76 116.51 August 29 . 110.4 113.68 12428 Sept. 30 Oct. 31 . 116.9 113.11 12526 . 111.5 114.58 126.18 Nov. 28 . 119.5 113.74 123.76 Dec. 3 . 119.2 113.9 12221 Dec. 4 . 119.0 113.35 121.08 Dec. 5 . 118.9 113.50 120.6? New York —Dow Jones (126 equals 100). 1939 Highest (Sept.), rails. 35.90; industrials. 15122. Lowest (April), rails. 23.15; industrials. 121.4 Shares Rails. Indus. sold. January 31 .. 50.88 180.44 1,310.000 February 28 .. 50.39 178.90 680,000 March 28 .. 48.7 177.1 940.080* April 30 .. 45.22 170.64 780,000 May 28 .. 44.24 169.25 900.000 June 29 .. 45.88 177.3 670.000 July 30 .. 49.04 180.91 1.170.000 August 29 .. 48 47 178.85 580.000 Sept 30 .. 48.43 177.49 960.000 181.81 800.000 Oct 31 .. 48.74 Nov. 29 .. 47.12 179 40 300.000 178.79 970,000 Dec. 4 .. 46.94 Dec. 5 .. 46.28 176.10 1290,000 Dec. 6 .. 4628 175.74 420,000