STERLING FUNDS

Press, Volume CIV, Issue 30677, 17 February 1965, Page 17

STERLING FUNDS

£5.6m Fall To £20.7m

Reserve Bank sterling exchange funds fell £5.6m to £20.7m in the week to February 10, but sterling investments rose £4.9m to £24.7m. Investments have been unchanged since September, when they fell £4.5m. Advances to Government departments fell £l.4m to £43.1m. In seven weeks, this account has fallen £22.4m. Government departments’ deposits were also down, £3.2m to £10.6m.

Statutory deposits by trading banks were £o.sm higher at £83.3m, and bank notes in circulation totalled £82.0m. Auck. Firm To Seek Listing Auckland Transport Holdings, Ltd., will seek official Stock Exchange listing of its shares in April. Application will be made after the issue on April 9 of all the 300,000 £1 shares to existing shareholders in the four companies involved in the merger, North Shore Transport Company, Ltd., Johnston’s Blue Motors, Ltd., Suburban Buses, Ltd., and Henleys Engineering, Ltd. Dividends in respect of the current year will be paid to existing shareholders in North Shore Transport Company, Ltd., and Johnston’s Blue Motors, Ltd. The directors of Auckland Transport Holdings, Ltd., forecast a dividend of 6 per cent for the first year of operation. British Interest In Aberfoyles (N.Z. Press Assn. —Copyright) LONDON, Feb. 15. Consolidated Tin Smelters, Ltd., announced today negotiations were in progress for the acquisition of an interest in Aberfoyle Holdings, Ltd., of Australia.

If the negotiations were successful, Aberfoyle would issue to C.T.S. Australia Pty., Ltd., acting for C.T.S., 547,600 shares of Aberfoyle at a substantial premium which, with other holdings, would give the Patino group about 20 per cent of the issued capital of Aberfoyle, a company statement said.

Sucklling Div. Suckling Bros., Ltd., Christchurch shoe manufacturers, recommends a final dividend of 5 per cent on higher capital of £222,223, making a total of 9 per cent for the year. Dividend is payable on March 23, and the share register will be dosed from March 17 to 22. Last year’s dividend on lower capital was 10 per cent.