Higher Stocks In Shops, Factories, Warehouses

Press, Volume CI, Issue 29778, 22 March 1962, Page 17

Higher Stocks In Shops, Factories, Warehouses

The total value of stocks held by wholesalers at December 31, 1961, was £5.6 million, or 8.5 per cent, higher than at the end of 1960. The latest figure is £4.7 million, or 6.1 per cent, down on the position at September 30, 1961, according to the Department of Statistics.

The total at the end of last year was £72.0 million, compared with £66.4 million a year previously and £76.7 million three months before.

On the 12-month comparison, all wholesale store-type groups were up except food and drink, which at £4.9 million was 2.7 per cent, down on the December. 1960, total. The major increases were furniture (31.7 per cent), chemicals (13.3 per cent.) and automotive (9.4 per cent.).

All groups were down over the three-month period, the biggest reductions being 12.3 per cent, for the automotive group, 8.0 per cent, for food and drink and 7.8 per cent, for furniture. Retailers, Manufacturers Retailers’ stocks at December 31, 1961, totalled £ 109.9 m. This figure showed a rise of £B,lm, or 7.9 per cent., on the December, 1960, figure. Between the end of September, 1961. and the end of December, 1961, retail stocks fell 3.9 per cent.; in the same period of 1960 the fall was 0.7 per cent; Total stocks of finished goods and materials held by manufacturers at December 31, 1961, were £11.7 million, or 10.7 per cent, higher than 12 months previously. Stocks held by primary produce processing factories were only 0.2 per cent, up at £33.2 million, those of other industries being valued at £120.8 million. This last figure represents a rise of £l.B million (6.1 per cent.) in finished goods and £9.8 million (12.4 per cent.) in stocks of materials.

The principal percentage increases for finished goods were printing (95.7 per cent,), basic metals <63.6 per cent.), chemicals (32.0 per cent.), rubber (25.6 per cent.), petrol products (22.8 per cent.), metal products (20.8 per cent.), and paper (20.1 per cent.). The major decreases were transport (37.7 per cent.), textiles (31.7 per cent.), and furniture (25.2 per cent.). Materials Up

Stocks of almost all materials were up on the figure for December 31, 1960, the main increases being in machinery (40.5 per cent.), beverages (24.9 per cent.), paper (23.1 per cent.) and textiles (21.8 per cent.). Compared with the position three months earlier, stocks of primary industry factories

were up £B.S million, or 35.2 per cent. The department notes that this movement is a seasonal one, however, being concerned largely with finished goods. Stocks held by other industries were down £3.4 million on the total held on September 30. 1981.

Custom Credit Deb. Issue (K Z. Press Assn.—Copyright) MELBOURNE. March 20. Custom Credit Corporation. Ltd., hire purchase financiers, has lodged a prospectus fora £2 million issue of debsntures, carrying tnaximum interest of 7 per cent, for a four-year term. The company’s last debenture issue, in August, carried interest of 8 per cent, for terms of five years or more It was heavily oversubscribed. Short temi debenture rates are unchanged at 6 per cent, for 12 months’ notice, 5 per cent, far six months’ notice and 3 per «ht. tor three months’ not.ee. Rates on cumulative stock for four to 20 years are down from 7 per cent, to 6| per cent. Company News In Brief Chevron, Queensland.—Holders of more than to per cent, of the shares of Chevron,. Queensland, Ltd., have accepted the joint £1 million takeover offer made by I.A.C. (Holdings). Ltd., and Commercial and General Acceptance, Ltd. Pacific Forests. Recommended dividend is Is a 12s share, equal to 8 1-3 per cent. Boral-n.H.P. Broken Hili Proprietary Company, Ltd., and Bitumen and Oil Refineries (Aust), Ltd., oil refiners and bitumen manufacturers, . have merged their interests in the Elrington. Hebburn and Metropolitan collieries. Hebburn Pty., Ltd., is the holding company for the group.

A.W.A. Half-Year.—Profits of Amalgamated Wireless (Australasia), Ltd., continued to ease in the first half of 1961-62. Directors say results in the December six months were below the same period in 1960. This follows a 32 per cent, fall tn 1960-61 group profit. However, there are indications of an improvement in trading, directors say. Interim dividend is steady at 5 per cant. Last year final payment was cut from 11 to 9 per cent. L'.E. Box Acquisition.— Directors of United Empire BoxCompany, Ltd., announce that the company has acquired all .the shares tn Downs and Poole, Ltd., a plastics manufacturing company in the Hutt Valley. Downs and Poole, Ltd., will continue to operate under present management.—(P. A.)