SHAREMARKET INDICES

Press, Volume XCIII, Issue 27989, 8 June 1956, Page 16

SHAREMARKET INDICES

COMPANY NEWS PERPETUAL TRUSTEES’ ACCOUNTS Gross revenue of the Perpetual Trustees Estate and Agency Company of New Zealand, Ltd., rose £8536 to £81,249, and net profit rose £702 to £6BlB in the year ended March 31. Profit is reached after payment of an unspecified amount for depreciation. With £3549 brought forward, and £257 over-provided last year for taxation, less £938 required for the interim dividend, there is £9687 available for distribution. The directors recommend the transfer of £3OB5 —estimated taxation on income for the year under review—to taxation reserve ana the transfer of £2500 to general reserve. Recommended final dividend is Is a share, plus a bonus of 6d (making 2s 3d, unchanged), which will require £1875, and a contribution to the staff benefit fund of £4OO is proposed,, reducing carry-forward to £1827. Main balance-sheet changes are an increase of £74,675 to £584,134 in balances due by the company, a fall of £12,887 to £327,571 in balances due to the company and an increase of £92,745 in bank deposits and bank current accounts.

FROZEN PRODUCTS ISSUE OF ONE FOR TWO

The directors of Frozen Products, Ltd., Wellington, have announced the terms of the new issue of 200,000 shares of 5s each at par.

Shareholders may apply for one 5s share for every two held on June 8. The sum of 2s 6d a share is payable on application. Applications close on or before July 15.

The new shares (paid to 2s 6d) will rank for dividend in the financial year starting on July 1, 1956. Rights are attached to the issue.

The directors do not propose to call up any portion of the uncalled capital (2s 6d a share) under six months from the close of the issue, if then.

North Shore Transport.—The North Shore Transport Company, Ltd., is recommending a dividend of 5 per cent, (unchanged) for the period from May 1, 1955, to March 31, 1956. The company’s balance date was changed during the year. The dividend is payable on July 3, ex June 13.

Ballins Breweries.—Ballins Breweries (N.Z.), Ltd., have declared interim dividends of 3 per cent, on ordinary shares and 2*£ per cent, on redeemable cumulative preference shares for the six months to March 31. Dividends will be paid on July 30, and shares are ex dividend after July 10. Books will not be closed for the purpose of dividend payments.

INTEREST RATES AND SMALL’ SAVINGS

AUCKLAND, June 7.

Interest rates in the United States were comparable with those ruling in New Zealand, said the assistant manager of the Auckland Savings Bank, Mr M. M. N. Corner, speaking at the Auckland Creditmen’s Club luncheon Mr Corner recently made a three months’ visit to America on the invitation of the National Association of Savings Banks. While the average small saver was primarily interested in setting aside a nest-egg against adversity, said Mr Corner, small increases in interest proved attractive to him. In the United States, for example, where savings banks had the power to vary their rates of interest, a 1 per cent, rise by a New York savings bank attracted 50,000.000 dollars in new funds in a very short time.

Comparative indices are:— New York.—Dow Jones: Shares Rails. Indus. sold. May 31 .. 159.87 424.86 1,990,000 June 30 .. 160.95 451.38 2,370,000 July 29 .. 158.19 465.85 2,450,000 August 31 .. 157.14 468.18 1.850.000 Sept. 30 .. 155.05 466.62 2,140,000 October 3 .. 149.53 454.87 1,800,000 Nov. 30 .. 166.65 483.26 2,900,000 Dec. 30 .. 163.29 438.40 2,820,000 Jan. 30 .. 155.10 467.50 1,330,000 Feb. 29 .. 159.62 483.65 3.900,000 March 29 .. 171.82 511.79 3,480,000 April 30 .. 176.63 516.12 2,730,000 May 31 .. 165.10 478.05 2.020,000 June 4 .. 165.88 483.22 1,500,000 June 5 .. 165.81 483.19 1,650,000 June 6 .. 164.70 480.54 1.460,000 London—Financial Times: Indus, ord. (1936 equals 100); Govt, and gold (1929 equals 100): — » Indus, ord. Govt. Gold May 31 .. 197.0 95.30 84.41 June 30 .. 214.3 94.06 85.82 July 29 .. 214.8 92.60 84.10 August 31 .. 194.1 88.27 86.48 Sept. 30 .. 191.0 89.72 84 68 October 31 .. 191.1 91.64 79.03 Nov. 30 .. 190.3 90.78 76 10 Dec. 12 .. 198.1 90.53 *87 1 Jan. 4 .. 203.4 90.16 t86.7 Jan. 31 .. 186.4 88.17 82.5 Feb. 28. .. 177.9 88 15 90.6 March 29 .. 180.1 86.50 85.5 April 30 .. 190.7 87.80 81.4 May 31 .. 181.1 85.39 78.1 June 4 .. 174.5 84.49 78.8 June 6 .. 176.9 84.31 79.1 •New series begins. tEx dividend (equals 88.1 cum div.).