SHAKE MARKET INDICES

Press, Volume LXXXVII, Issue 26560, 24 October 1951, Page 9

SHAKE MARKET INDICES

10^* ew York.—Dow Jones (192 t jqualf

FOREIGN EXCHANGE RATES

Telegraphic transfer rates tor exchange looted by the Bank of New South Wales, Christchurch. on the following centres

COMPANY NEWS

• -*-4.4.' ' , Sharland’s Profit Rise.-The net profit of Shetland and Company, Ltd., for the year ended August 31, 1951, was £22,535. against £19,196 the previous year. The transfer to the general reserve is £BOO9, against £5OOO in 1950. Unchanged distribution of 5 per cent, dividend and 4 per cent, bonus on all shares takes £14,580? iesvmg a, carry-forward of £10,149, against £10,196 brought in. Gross profit was £163,396 (£133,149 in 1950). Expenses were £96,703 (£75/120), and directors' fees £lOOO (unchanged). Depreciation was £8539 (£6111), staff superannuation £4121 (£2022). Taxation took £32,500 (£29,090). —(PA.)

Electronic Navigation Issue.—A public issue at par of 20,000 5 per cent, cumulative preference shares of 10s each participating to 6 per cent., is being made by Electronic Navigation, Ltd., Auckland, manufacturers of radio navigation and electronic equipment, to finance its expansion proposals. The new shares, which will Increase the issued capital from £12,000 to £22,000 in 12,000 ordinary £1 shares and 20,000 preference shares of 10s, are payable in full on application and will rank for dividend from allotment. A director to represent preference shareholders will be appointed when the issue has been subscribed. From the proceeds of the issue the company intends to invest £5OOO in New Zealand Rental Company, Ltd., a private subsidiary trt the company registered in Auckland earlier this month and £llOO in the Navigation Instrument Company, Ltd., a company being promoted by an associate Melbourne concern. Electronic Navigation, Ltd., was formed in 1945 with an original capital of £2OOO. In additon to manufacturing radio and electronic equipment, the company makes nameplates, signs, and instrument panels, and handles some'overseas agencies.—(P.A.)

STOCK SALES

ASHBURTON Prices for fat sheep at the Ashburton stock sale yesterday were on a par with last week's rates « Tinwald. Fat hoggets sold particularly well. The demand, for store sheep was good. Fat ewes sold from 36s Id to 39s Id for medium weights, and up to 43s 7d for heavier sorts. C. W. Anderson (Flemington) sold a pen at the highest figure. , Fat wethers realised up to 85s Id, and prime quality up to 73s Id. F. L. McLaine (Mayfield) sold a line of two-tooths at 87s Id to 73s Id. In the store pens, 150 ewe hoggets realised 120 s, two-tooth wethers sold at 59s 6d to 625, four-year ewes and lambs sold at 565, and five-year ewes and lambs realised 45s all counted.

PLEASANT POINT ‘The Prest" Special Service TIMARU, October 23. With the help of southern competition, values held at a very high level for the 85 head of fat cattle offered at the Pleasant Point sale to-day. Fewer than two races of fat sheep were offered, and values were very high. With the promise of an abundance of feed in the near future, the inquiry for the few store sheep offered was extra keen, and values appreciated fully 4s to 8s a head. The store cattle included a number of pens of average bred cattle, but all lots changed hands at enhanced values.

Values were:— Fat Cattle.—Prime heavy steers, £35 7s 6d to £4l 17s 6d; prime, £27 2s 6d to £3l 17s 6d; medium, £24 2s 6d to £25 17s 6d; light, to £l9 2s 6d. Prime heifers, £35 2s 6d to £4O 12s 6d; medium, £25 7s 6d to £29 2s 6d; light. £l7 17s 8d to £l9 17s 6d. Prime cows, £23 2s 8d to £2B 12s 6d; medium, £l7 2s 6d to £l9 78 8d; light, £l4 2s 6d to £l6 2s Bd. Store Cattle;—-Bulls, £lO to £l3 ss. Yearling steers and heifers, £7 10s to £l2 ss. Two-year steers and heifers, £l3 10s to £24 10s. Calves, to £6 10s. Fat Sheep.—Prime wethers, 78s 4d to 83s Id; medium, 64s lOd to 71s lOd; light, 52s Id to 58s 10d. Prime ewes (in the wool), 75s Id to 81s Id; medium, 58s lOd to 64s Id. Prime ewes (shorn), 88s Id to 67s Id; light to medium, 50s to 54s Id. Store Sheep.—Shorn wether hoggets, 46s to 52s 6d. Shorn ewe hoggets, medium, to 53S 6d. Woolly ewe hoggets, to £5 Os 6d. Medium full and failing mouthed ewes in the wool and lambs, all counted, 435.

Nov. 30 Rails. Industry .. 68.53 227.60 Shares 2,080,000 Dec. 30 .. 77.64 235.41 1.530,000 Jan. 31 .. 86.58 248.83 2.340,000 Feb. 28 .. 85.10 252.05 1,640,000 March 31 .. 80.58 247.94 480,000 1,790.000 April 30 May 31 June 29 .. 82.92 259.13 .. 79.64 .. 73.39 249.67 242.64 1400.000 1,730,000 1,550.000 July 31 .. 80.54 257.86 August 31 .. .80.33 270.25 1.530.000 1490,000 Sept 29 Oct. 19 .. 84.76 271.16 .. 83.79 269.68 1,990,000 Oct. 20 .. 82.80 267.42 1,020.000 Oct. £2 .. 86.92 275.74 1,710,000 London.—* Financial Times": In dus. ord. (1936 equals 100): Govt, and gold <1926 equals 100):Nov. 30 Indus, ord Govt. Gold .. 114.3 107.01 105.35 Dec. 29 .. 115.7 106.93 109.73 Jan. 31 .. 120.8 105.95 117.14 Feb. 28 .. 122.4 104.86 120.95 March 30 .. 120.9 104.73 IM April 30 May 31 .. 132.9 103.42 .. 137.2 102.38 - 116.76 June 29 .. 135.8 101.58 111.48 July 31 'ugust 31 :: 101.76 101.9* 111.41 109.88 Sept. 29 .. 134.6 101.37 110.56 Oct. 19 .. 136.5 102.07 113.76 Oct. 22 .. 136.9 102.11 113.27

N.Z. on Buyers. Sellers. London— £N.Z. to ElOOstg. T.T. Australia— 100/7/0 101 «A. to £100 NX. T.T. 124/10/9 124 rm— £F. to £100 NX. T.T. South Africa— 111/11/9 110/4/8 £N.Z. to£100 8 A T.T. Rhodesia— 99/11/6 101/3/ENZ. to £100 R. T.T. Nev/ York— 99/16/6 101/8/Doi. to £1 NX. T.T. 2.7964 8.7627 Montreal— Doi. to £1 N.Z. 29224 1.8849 Belgium— Franca to£l N.Z. T.T. 141.060 137350 Denmark— Kroner to £1 N.Z. T.T. 19.54 1838 France (Metropolitan)— Francs tq£l NX T.t. Holland987.82 Guild. to £1 N.Z. T.T. 10.66 10.45 Norway— Kroner to £1 N.Z. T.T. Sweden— 20.19 1934 Kroner to £1 NX. T.T. 1435 1433 Switzerland— Francs to £1 N.Z. T.T. Hong Kong— N.Z. pence to dol. T.T. India and Ceylon— 12.26 14 51*64 13.qp 15 25-64 N.Z. pence to rup T.T. 171 181 Singapore— _ N.Z. pence to dol. T.T. Pakistan— 27 29-32 28 51-64 NX. pence to rup. T.T. Western Samoa— 25 29-32 26 25-64 £S to £100 NX. T.T Noumea- — 100 France _ to £1 NX. T.T. aefle 172.88 PapeeteFrance. „ to £1 NX. T.T. Manila— 17333 Pesos to £1 NX. T.Ti ■see 831 -I