SHAREMARKET INDICES

Press, Volume XC, Issue 27491, 27 October 1954, Page 15

SHAREMARKET INDICES

LONDON INDUSTRIALS AT NEW PEAK Yesterday the London index of industrial ordinary shares reached a new alltime peak of 180.1, the dock strike notwithstanding. Comparative indices are:—

N.Z. OVERSEAS PAYMENTS DEFICIT OF £12,760,000 IN SEPTEMBER (New Zealand Press Association) WELLINGTON, October 26. New Zealand had a deficit of £12,760,000 m her overseas payments last month, compared with a deficit of £2,953,000 in September, 1953. For the first nine months of 1954 there was a favourable balance of £6,722,000, w j th a favourable balance of 684 ’ 000 ln rSt nine mont hs of Both in the month of September and for the nine-month period, private imports were substantially higher in 1954. This accounts largely for the heavier calls on New Zealand’s overseas funds this year. Export receipts in September, 1954, were lower than for September last year, but for the nine-month period 1954 receipts stand nearly £12,000.000 higher than for 1953. For January-September, receipts from meat and wool were slightly higher this year than last, but receipts from exports of butter fell sharply. COMPANY NEWS Westland Breweries. Recommended dividend is 10 per cent, for the year, a rise of 2 per cent. Burns, Philp.—An interim dividend of Is a stock unit is payable November 19. (PA.) Amalgamated Wireless.—Final dividend recommendations are 9d a share on fullypaid shares and 4Jd on contributing shares, plus a bonus of 3d on fully-paid shares and IJd on contributing shares, P p^ ble November 23, ex November 2— Woolworths (England) Plans.—F. W. Wool worth and Company, Ltd., of England, proposes tp capitalise £7,500,000 of reserves and t< issue 30,000,000 new 5s ordinary shares in the ratio of one for every two 5s units held. Present paid ordinary capital is £15,000,000, 52.7 per cent, of which is held by the parent company, F. W. Wool worth Company of New York.

Mauri Bros.’ Dividend.—Mauri Bros, and Thomson, Ltd., Sydney, reports a net profit of £102,909 for the year ended June 30, an increase of £6288 over the previous year’s result. Ordinary dividend has been raised from 8 to 9 per cent., and takes £72,842. The preference dividends absorb £15.690, and the balance of current profit, £14,377, is added to the carry-forward, making it £181,903. William Cable New Issue Terms.—William Cable Holdings’ issue of 275,000 £1 ordinary shares will be made to shareholders registered on October 29. The offer will remain open until December 10. Terms of the issue are: 8s 6d, including 3s 6d premium, on application; 7s 6d by March 31, 1955, and 7s 6d by June 30, 1955. The first capital payment of 5s will rank for dividend from December 1, and subsequent calls will rank for dividend from the respective due dates. United Insurance Capital Plans.—A teconstruction of its capital structure is proposed by the United Insurance Company, Ltd., Sydney. The changes are:— uncalled liability of £5 op the £IC shares will be written off, reducing capital from £1,000,000 to £500,000; the £ r shares will be split into £1 stock units an issue of 200,000 £1 shares will then br made at par in the ratio of two for five Issued capital will then become £700,000 The company is recommending a "specia bonus” of 24 per cent, with the final dividend of 6J per cent., making 15 per cent for the year ended September 30, the highest-payment on record. Dunlop (Aus.) Programme.—Dunlop Rubber Australia, Ltd., was undertaking a strenuous development programme, said the chairman, Sir Alexander Stewart, at the annual meeting in Melbourne last week. Further advances in the automotive and allied fields were to be expected in the near future. The development cf more modern manufacturing techniques tended to make much of the plant obsolescent at an early age. This meant that really adequate provision must be made for replacement of plant and machinery, the cost of which was continually increasing. Sir Alexander Stewart said rubber prices were again rising, and this tendency seemed likely to continue. This year world production would exceed consumption by a very small margin, but statistical forecasts suggested that potential consumption would exceed production by 1957, including synthetic production from the United States. LONDON METAL MARKETS (N.Z. Press Association—Copyright) LONDON, Oct6ber 25. Latest London metal prices are:—

New York.—Dow Jones (1920 equals 100):— Rails. Industry. Shares. Dec 31 .. 94.03 280.90 2.490.000 Jan. 29 .. 101.84 292.39 1,950,000 Feb. 26 .. 102.20 295.54 1.O10.000 March 31 .. 101.42 303.51 1.690.000 April 30 .. 104.31 319.33 2,450,000 May 29 .. 110.60 327.49 1,940.000 June 30 .. 112.70 333.53 1.950,000 July 30 .. 119.56 347.92 2,800,000 August 31 .. 112.45 335.80 2,640,000 Sept. 30 .. 115.18 360.46 1,840,000 Oct. 15 118.36 353.20 2,250,000 O 18 .. 118.45 354.35 1,790.000 Oct. 20 .. 120.72 357.42 2,380,000 Oct. 21 .. 120.25 358.08 2,320,000 London.—“Financial Times”: Indus, ord. <1936 equals 100); Govt, and gold (1926 ,, Indust. ord. Govt. Gold Dec. 31 .. 130.7 100.21 89.39 Jan. 29 .. 135.4 100.25 91.14 Feb. 26 .. 136.3 100.51 91.10 March 31 .. 138.9 101.41 94.12 April 30 .. 145 2 102.33 87.10 May 31 .. 151.3 102.50 87.56 June 30 .. 155.7 103.06 87.73 July 30 .. 160.3 105.32 88.74 August 31 .. 171.6 105.32 99.27 Sept. 30 .. 171.5 105.66 97.72 October 14 .. 174.5 105.59 92.60 October 18 .. 174.9 105.56 93.33 Oct. 20 .. 179.2 105.83 95.06 Oct. 21 .. 120.25 358.08 2,320,000

Buyer Seller £ s. d. £ s. d TinSpot .. .. 732 10 0 734 0 0 Forward .. 731 0 0 731 10 0 Spot .. .. 107 15 0 108 0 0 Forward .. 102 5 0 102 10 0 ZincSpot .. .. 82 0 0 82 5 0 Forward .. 81 5 0 81 10 0 Copper— Spot .. .. 270 0 0 272 10 0 Forward .. 257 0 0 257 10 0 Gold— £12 10s 10Jd oz.