COMMERCIAL ITEMS

Dominion, Volume 21, Issue 121, 20 February 1928, Page 12

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE SATURDAY’S BUSINESS AND PRICES

At Saturday’s call of the Wellington Slock Exchange a sale was reported of Bank of New Zealand at £2 18s. lid. The

SALES IN OTHER CENTRES BV TELEGBAI’H.- I’IIESS ASSOCIATION Auckland, February 19. Sales: Inscribed stock (1939), 4% per cent., Jj9f 55.; New Zealand Breweries debentures, 22s Ids'.; Commercial Bank of Australia, 275. Bd.; Bank of New Zealand, 58s. 4d.; National Insurance, 15s. 9d.; New Zealand Insurance, 40s. 6d. Christchurch, February 19. Sales: New Zealand Breweries (bonds), 235.; Commercial Bank of Australia, 275. 7d.; Union Bank of Australia (new fully paid), £l4 155.; Beath and Co., 325. 6d.; Mt. Lyell. 30s. Id. ■Salas reported Commercial Bank of Australia (rights). 7s. sd. (3 parcels); South British Insurance, 58b. ; Amalgamated Wireless, 235. Dunedin, February 19. Salt ;—Upper Nevis, 20s. !*d. MOTOR-CAR FINANCE The board of the Automobile Finance' Company of Australia, uimiteu . bourne, reporting for the year ended December 31 last and enclosing the accounts as at June 30, 1927, of General Investments and Discounts Pty., Ltd. (the whole of the shares in which are held by the Automobile Finance Company), states that the gross profit of the parent, company amounts to £53,870. This contrasts with £43,231 for 1926. After deducting £9655 total costs of management and bringing forward £18,543 interest earned during the period, Die sum of .£19,651 remains available to be dealt with, against £K.565 a year earlier. All ascertained bad debts had been written off. In view of the general financial depression and the recent drought in the country area, the directors have, deemed it prudent to deal with the amount on a conservative basis, and have therefore transferred £3500 to general reserve and £2550 in reduction of establishment expenses, leaving £13.600 available for dividend, against £9745 twelve months earlier. The directors of Automobile Finance Company recommend a dividend at the rate of 8 per

cent. per annum to the members of the company in proportion to the amounts from time to time deemed to have been paid up during the year under review on the ordinary shares. The capital of the company is £168.495, and the bank overdraft is £68,236. .The assets include sundry debtors on hire purchase agreement, £246,567; establishment and promotion account. £7802, and shares in other companies, £25,000.

MINING NEWS

MURRAY CREEK. Mr. J. B. Auld engineer, in a brief synopsis of operations at this mine, reports on February 10 as follows he intermediate level has been extended 80 feet on reef, which is 3ft. wide, containing payable values. The battery level has been repaired 300 feet, showing stone (reef) in several places. Intend connecting intermediate level with rises iuimediatelv. I’rospects good. HERCULES MINE. Mr. Auld repeat (February 10)‘Reef in Stopes above level 110 feet long, 4 feet wide, crushed 350 tons, product £321; returns incomplete. Completed 3o< feet Hercules battery level, 50 feet, being on reef line. Should strike reef in this section anv day. Rise to Golden Ledge level completed 100 feet. No crushing this year owing to water shortage.’

EXCHANGE RATES. (A.P.A. and “Sun.”) (Rec. February 17. 7.50 p.m.) London, Febra ry 16. Foreign rates of exchange on February 16, as compared with par rates, or as averaged first half of 1914. are as fol-

PRICES OF RAW MATERIALS. (Hec. February 19, 5.5 p.m.) London, February 18. Cotton.—Liverpool quotation for American budding upland cotton, March shipment, 9.72 d. per lb. Rubber.—Fine Brazil para. 13Jd. peril!.; plantation, first latex crepe and smoked ribbed sheet, 15Jd. Jute-February-March shipment. £3O per ton. New Zealand hemp.—February-April shipment, £34 10s. per tou. Copra-February-Marell shipment, £26 12s. 6d. per ton. Linseed oil. .£2B per ton. Turpentine, 41s. per cwt CHICAGO WHEAT QUOTATIONS. (Rec. February 18. 5.5 p.m.) New York, February 17. Chicago wheat futures:—March. 1 dollar 3B cents per bushel; May. 1 dollar 31Jd. cents: July. I dollar 29 cents. CUSTOMS REVVNUE. The Customs revenue collected at the port of Wellington on Saturday totalled £6906.

latest quotations are:— Buyers. Sellers. N.Z. GOVT. LOANS— .C s. d. £ s. d. 44 p.c. Ins. Stk., 19u9 97 0 0 —— 41 p.c. ditto, 1938 ... 97 2 6 — 5J p.c. ditto, 1933 ... — 101 2 6 p.c. ditto, 1941 — 99 5 0 31 p.c. ditto, 11)32 ... 98 15 U — 4) p.c. Bonds. 11)39 .. 97 0 0 — 4i p.c. ditto, 1938 ... 97 2 6 DEBENTURES— N.Z. Breweries (bonds) 13 0 13 3 BANKS— Commercial o£ Aust. 17 3 17 8 Ditto (rights) 0 7 3 0 7 6 New Zealand 2 £> 6 2 18 9 Ditto "D 1 ' shares (pd.) 16 3 — Union of Aust. 14 14 3 14 15 0 FINANCIAL— Dalgety and Co — 13 16 9 N.Z. Guarantee Corp. 0 8 0 0 8 9 Ditto (pref.) 110 N.Z. Loan and Mere. Agency (ord.) 96 0 0 —— Well. Trust, Loan .. — 6 17 6 GAS— 13 0 ■Wellington (pref.) .. 0 16 4. — INSURANCE— ,, , 0 15 V South British 2 17 6 MEAT PRESERVING— ■ 1 17 6 N.Z. Refrigerat. (£1) — 0 16 6 Ditto (10s.) — 0 7 10 Well. Meat Export (ord.) 0 9 9 0 11 3 TRANSPORT— Huddart-Parker (ord.) 2 10 0 2 11 0 Ditto (pref.) (cum. div.) 111 Kelburne and Karori 16 0 COAL— Westport-Stockton (ord ) 0 11 ■>—. Ditto (pref.) 0 3 6 TIMBER— — -- 0 12 6 BREWERIES— New Zealand 2 2 8 2 3 0 MISCELLANEOUS— C. M. Banks (ord.).. 12 0 — British Tobacco (Aust.), —— 2 0 0 D.I.C. (ord.) (prem.) 0 10 0 — E cctrolytic Zinc (pref.) (cum. div.) — 1 13 3 N.Z. Farmers’ Per4 0 0 — N.Z. Paper Mills .... 0 17 0 Sharland & Co. (ord.) —• 10 8 Ditto (pref.) —— 10 9 Wilson's Cement .... 1 17 8 — MINING— Waihi Grand Junction 0 0 10 — Kawarau — 0 0 8

low: — Feb. 16. Feb. 0. Par. Brussels, bclgas 34.99 to £1 35.01 Oil Paris, francs to £1 124 124 25.22* Stockholm, knr. to 18.12 £1 18.16 18.16 Oslo, knr. to £1 18.31 18.30 18.12 Copenhagen, knr. 18.20 18.12 to £ 1 18.21 Berlin. reichsmark to £1 .. 20.43 20.43 — Rome, lire to £1 92.03 92.03 —— Calcutta, pence to 24 rupee IS 17 31-32 Yokohama, pence to you 23J 23 3-32 24 Hong-Kong, pence 24 J to dollar .... 24 8 24 Montreal, dollars 4.866 to £1 4.S8? 4.884 New York, dol4.866 Jars to £1 .. 4.S7? 4.87 7-32 Amsterdam, florins 12.107 to £ 1 12.11 12.10? Batavia, florins to 12.107 £ 1 12.111 12.10} Prague, knr. to £1 1641 104? 12.107