SHARE MARKET INDICES

Press, Volume LXXXVII, Issue 26409, 1 May 1951, Page 9

SHARE MARKET INDICES

COMPANY NEWS Norvic Shoes, England.—The Norvic Shoe Company, Ltd., Norwich, England, which recently subscribed ior 15,000 £1 ordinary shares in Norvic Shoes (N.Z.), Ltd., Christchurch, last week issued the 260,000 balance of its 6) per cent, second cumulative preference shares of £1 each. Brokers arranged to place the shares in the market at 23s 3d a share, "The Times" says that the market price of the 240,000 shares of the class already Issued is about 24s 6d. which increases the attractiveness of yield on the latest offer, £5 Ils lOd per cent. Proceeds of the new issue are required to discharge in part bank overdrafts of £570.000 raised for the purpose of meeting plant replacements, factory reorganisations, and raw material costs. The prospectus of Norvic Shoes (N.Z.), Ltd., states that the objects are inter alia, to execute an agreement with the Norvic Shoe Company. Ltd., relating to the manufacture and sale of Norvlc footwear In New Zealand.

Hume industries (Far East).—Net profit of Hume Industries (Far East), Ltd., rose by £28.482 to £117,532 after taxation for the year ended December 31, 1960. The dividend of 5 per cent, requires £ 12,500. There is no ordinary dividend. The sum of £195,470 is transferred to war damage claims reserve. Trade has been buoyant in Malaya and Singapore, state the directors, and this prosperity will probably continue for some time. Bank of N.B.W.—The Bank of New South Wales has anounoed an Interim quarterly dividend of 2 per cent. (8s a share), payable May 31.—(P.A.) Howard Smith Affairs.—How-,rd Smith, held 472,240 £1 fully paid ordinary shares m the Broken Hill Proprietary company. Ltd., and had sold its rights to the latest issues, said the chairman (Mr A. Howard Smith), at the annual meeting in Sydney this week.-The increase of £88,545 in the company’s investments last year represented balance of instalments paid on shares in Broken Hill Proprletaary. b. l. Hart and Company, Ltd.—The directors recommend a final dividend of 5 per cent., making 10 per cent, for the year, payable May I—ex May I.—(P.A.)

COMPANY REGISTRATIONS Registration of the following companies is notified in the current issue of the Mercantile Gazette”:— Warmer Concrete, Ltd. Private company, April 10; 62 Bromley road. Capital: £6OOO in £1 shares. Subscribers: Christchurch—G. H. Francis 3000, D. T Alexander 3000. Objects: Manufacturers and dealers in concrete products, and incidental. Jackson (J. W.) and Company, Ltd. Private company AprU 9. Capital; £lOOO in £1 shares. Subscribers: Christchurch— L £.m k ?? n =? 50 xPz F ’ Williamson 100, M. G. Elliott 50. Objects: Customs, shipping. and forwarding agents and Incidental. Blairs Papanul Bakery, Ltd. Private company April 9. Capital: 2300 in £1 shares. Subscribers: Christchurch—A. G. Bryant 1, F. W. G. Kettle 2299. Objects: Bakers, pastrycooks, shopkeepers, and incidental. Increase of Capital Hampton (D.) and Company (N.Z.) Ltd. Capital increased from £5OOO to £BOOO. RABBIT SKINS LEVY INCREASE ANNOUNCED (New Zealand Pres* Association) WELLINGTON, April 30 The rate of levy on rabbit skins pro- ? nd , 3 nn d . ln New Zealand will be raised from 20 per cent, to 50 per cent. , , l. e H. months commencing June 1,” said the Minister of Agriculture, Mr K. J. Holyoake, to-night. The Minister stated this increase had Axed on the recommendation of the Rabbit Destruction Council and after full discussion by Cabinet. "In view of the fact that the levy i« payable only at the time of auction or on direct sale to the wholesale trader, buyers are being given due notice of the mcrease,” continued the Minister. The levy is payable in respect of the full market value of skins, and the new apply up to and including May STOCK SALES PLEASANT POINT "The Press' Special Service TIMARU, April 30. The first of the two seasonal special cattle sales was held to-day at Pleasant Point for cattle bred west of Burke’s Pass. The sale included approximately 500 calves and 60 head of older cattle. The bulk of the penning of calves came forward in good condition, being for the most part bre 1 Aberdeen Angus-Hereford cross and Shorthorn-Hereford cross. The demand was steady throughout add although values were not quite as high as at recent sales the sale was a good one. Every lot changed hands at auction. Values were:— Steer calves: best £l2 to £l5, medium £9 to £ll 10s, small £7 to £8 17s 6d. Heifer calves: best £ll 10s to £lB, medium £9 to £lO 17s 6d, small £6 to £8 17s 6d. Three-year-old steers £l6 to £2O SS, yearling steers £7 15s to £l5 10s, breeding cows £3 to £9 12e 60.

BRITISH SULPHUR SUPPLIES (HJt. Pttu LONDON, April 29. British Industry will have to make do with 100,000 tons of sulphur a quarter *s from May 1, Most users will get less than 90 per cent, of what they used in 1950 but key industries such as iron and steel and explosives and essential foods and health services will be maintained at full output

New York.—Dow Tones (1826 equals 100):— Rails Indus Shares Sold. Sept. 28 .. 67.84 226 38 1.800.000 Oct. 30 .. 68.78 226.42 1,790,000 Nov. 30 .. 88.63 227.60 2,080.000 Dec 27 .. 77.32 234.21 2.930.000 Dec. 28 .. 77.89 236.34 3,650 000 Dec 30 .. 77.64 236 41 1,530.000 Jan 31 .. 86.38 248.63 2.340.000 Feb 29 .. 85.10 252.05 1.640.000 March 31 .. 80.58 247.TM 4"i'.f'O’’ April 25 .. 81.92 254.76 1,520,000 April 26 .. 82 77 267.13 1,790.000 April 27 .. 83.60 268.96 2,120.000 April 28 .. 83.62 259.08 730.000 London.— •Financial Times’’; Indus ord (1030 equals 100) Govt "0031? 100):— Indus ord and Sold < 1926 Govt Gold Sept. 20 Oct. 31 .. 117.9 107.75 119 43 .. 116.6 108.82 112.70 NOV. 30 .. 114.3 107.01 105 35 Dec 27 .. 116.2 106.81 108.7 Dec. 28 .. 116.2 106.86 109.40 Dec 29 .. 115.7 106.93 109 73 Jan 31 .. 120.8 105.95 117.14 feb 28 .. 122 4 104.86 123.95 March 30 .. 120.9 104,73 t’BST' April 24 .. 131.2 103.94 122.38 April 25 .. 131.1 103.72 121.83 April 26 .. 131.8 103.66 121.76 April 27 .. 132.9 103.51 121.83