WELLINGTON STOCK EXCHANGE

Dominion, Volume 21, Issue 288, 5 September 1928, Page 14

WELLINGTON STOCK EXCHANGE

YESTERDAY’S BUSINESS AND PRICES At the afternoon call yesterday, sales were reported of New Zealand Breweries 10 Ser cent, bonds at 245. Id., and South ritisli Insurance at. 635. 6d. Government securities were dull. The 4$ per cent, bonds (1930) were wanted at £99 55., and the 5} per cents. (1936) at £lOl 2s. 6d. Wanganui City 5| per cents. (1945) wcre'steady at par, and New Zealand Breweries at 245. Bank shares were in little better demand than on the previous day. There were buyers of Commercial Bank of Australia preference at. £7 2s. 6d., Commercial Bank of Sydney at £27 2s. fid., English, Scottish and Australian Bank at £8 Ils. 6d.. Bank of New South Wales at £5O, and Bank of New Zealand D shares at 275. 6d. Sellers quoted £l5 Is. for Bank of Australasia. 31s. for Commercial Bank of Australia. 625. for Bank of New Zealand, and £l5 7s. for Union Bauk (Melbourne register). Financial shares were in fair demaud, with blds of 80s. for National Mortgage, Ss. 9d. for New Zealand Guarantee Corporation ordinary, and 21s. for preference. 9s. (id. for New Zealand Insurance, and Os. 9d. for Wellington Deposit. Auckland Gas were steady at 235. 3d., Christchurch Gas at 245. 9d„ and Wellington Gas at 295. 3d. Wellington Meat Export were wanted at 10s., Huddart-Parker ordinary at 48s. 6d. cum. dividend, and P. aud O. deferred stock at £238.

Woollen shares were steady, with buyers of Kaiapoi Woollen (7s. paid) at 3s. Ils., Wellington Woollen ordinary at £6, Bs., and preference at £6 9s. Timber shares were steady and unchanged, and National Timber were in demand at 7s. Gd., and Leyland O’Brien Timber at 335. There were buyers of New Zealand Breweries at 485., C. M. Banks ordinary at 225. 6d„ British Tobacco at 435., Colonial Sugar at £6l ss. (a rise of 55.), Howard Smith at 265. 3d.. Newton King preference at 6s. 6(1., New Zealand Drug at 715., Sharland and do. at 19s. 9d., and Mount Lyell at 345. Yesterday’s buying and selling quotations were as under:—

SALES IN OTHER CENTRES (By Telegraph.—Press Association.) Auckland, September 4. Saibs—War Loan (1939). 4J per cent., £99 7s. 6d.: New Zealand Breweries, Ltd., 245.; Auckland Gas. 235. 4d.: Devonport Steam Ferry, 245. Gd.; Northern Steamship, 14s. Gd. Christchurch, September 4. Sales.—New Zealand Breweries, 48s. Gd. (two parcels): New Zealand Farmers’ Coop. (first pref.). 955. (three parcels) : Maliakipawa, Is. 9(1.. Is. lOd. (four parcels), Is. lid. (two parcels). . Sales Reported.—South British Insurance, 635. Gd. Dunedin. September 4. Sale Reported.—Union Bank, £l5 ss. COMPANY ACTIVITIES NEW REGISTRATION’ Two more private companies have been registered at Wellington this week. Hutt Flock Mills, Ltd., whose registered office is at Main Street, Lower Hutt, has been formed to import flock, kapoc, etc., and to import and manufacture mattresses, bedding, etc. The capital of the company is £B5O, divided into £1 shares, the subscribers being:—Preferential shares, fullv paid up. William Thomas Hildreth, Wellington, 212; A. E. Gannaway, Lower Hutt, 3G; William Henry Eliis, Lower Hutt 28; Dr. B. J. Dudley, Lower Hute, 50; Leonard Cloake, Lower Hutt, 62; Mrs. E. D. Ellis, Lower Hutt, 30; Barton A. Ginger, Lower Hutt, 52; C. R. Barrett, Lower Hutt, 30; ordinary shares, fully paid up, .Mrs. E. D. Ellis, 350. The Ideal Bartag Co., Ltd., bas been formed to import and manufacture eartags, etc. The capital is £2OO, divided into £1 shares, the subscribers being Wallace Presswich Lindsay, I'M); Gustav J. .T. Foil, 100. . The registered office ot the company is in the 'l', and G. Building, Grey Street, Wellington. NORTHERN BOOT AND SHOE COMPANY Dominion Special Service. Auckland. September 3. No dividend will be paid by the Northern Boot and Shoe Manufacturing Company, Limited, this year, aud the directors have agreed to forgo their honoraria. The report on the year’s activities, presented at thc annual meeting of shareholders, stated, however, that the company was in a strong financial position, and the advice to pay no dividends was given in order to conserve that position. The net profit amounted to £625 19s. 4d., which, with the amount brought forward from the last year’s balance to (be credit of thc profit aud loss account, made a total of £3057 14s. 2d. Ten per cent, had been written off the plant and furniture accounts for depreciation. Reviewing the year’s activities, Mr. W. P. Winstone, who presided, said the earning power of the company remained good, in that an amount of £1454 16s. lid. was earned. As a result of bad debts, however, the net profit was only £625 19s. 4d. The year was generally recognised in business circles as being unsatisfactory. It was, therefore, pleasing to note the company’s sales had been well maintained, which reflected great credit on the good team work of the staff. BANK OF NEW ZEALAND In an editorial note commenting on the balance-sheet of the Bank of New Zealand, the “Financial Times says: A parent must often be prepared to relegation to the background in face of the appeal of a very young offspring. J><> ‘° some extent interest in soundlyestablished institution, the Bank of ftew Zealand, or, rather, In its ordinary banking business, is eclipsed by that in the comparatively new long-term mortgage department. Marked progress is recorded in the latest report in connection therewith. It is kept quite distinct from the oruinary banking business, while its capital, which has been increased to £ G1G,200, although nominally part of the capital or the bank, is definitely allocated tor the specific purpose of making long-term loans. These totalled £319,800 at March 31 last, a good achievement in little more than twelve months. The general activity of the bank was well maintained during the vear a slight shrinkage of profits still leaving them at £841,900. Deposits rose to over £30,000,000. and there was an addition of nearly £2,000,000 to the funds employed in London, but the advances outstanding decreased by about £1,000,000. BANKRUPTCY PROCEEDINGS PETITIONS ITLED. Dominion Special Service. Pulmorston North, September 4. A petition in bankruptcy has been filed bv Mrs. Elizabeth Mcßride, confectioner, of Palmerston North. Bankrupt’s papers show that debts amounting to £333 los. 7d. aro owing to unsecured creditors, and £9O 12s. to secured creditors. The total debts amount to £424 7s. 7d., and, with assets valued at £374 os. Id., a deficiency of £5O 7s. 6(1. is shown. The principal unsecured creditors are as follow:—Tiritea Milk Supply (Palmerston North), £24 35.; W. Newlands (Palmerston North), £l3; Etta McBride (Palmerston North), £4O; E. M. Mcßride (Palmerston North), £34; E. M. Kemball (Wellington), £6O; John Rigg and Co., Ltd. (Wellington), £5l 14s. 4d.; Toop and Nielson, Ltd. (Wellington). £2O os. 9d.; Browne Bros, and Geddes (Wellington), £57 ss. 3d. A petition has also been filed by Daniel Alexander, grocer, of Palmerston North. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £24,962. FOREIGN ITEMS PRICES OF METALS. (Australian Press Association.) (Rec. September 4, 8.35 p.m.) London, September 3. Copper.—Standard, on spot, £62 13s. Od. per ton; forward delivery, £63 Is. lOld.; electrolytic, £6B 15s. and £69 55.; wire bars, £69 15s. Lead, £22 6s. 3d. and £22 Is. 3d. Spelter, £24 15s. and £24 16s. 3d. Tin, £213 11S. 3d. and £2lO Bs. 9(1. Silver.—Standard, 26 9-16 d. per ounce; fine, 28 11-l Gd. ENGLISH WHEAT MARKETS. (Australian Press Assn. —United Service.) London, September 3. Wheat.—Cargoes dull, values hard to determine, owing to absence of bids. Parcels, quiet demand, at late rates. Liverpool futures: October, 9s. 0 l-Bd. per cental; December, 9s. lid.; March, 9s. 2 7-Bd. BEET SUGAR PRODUCTION. (Australian Press Assn.—United Service.) London, September 3. Herr Licht gives the ten months’ beet sugar production as 4,29G,G54 tons. The campaign estimates are unchanged. P. AND O. STOCK. London, September 3. P. and O. deferred stock, £250.

Buyers. Sellers. N.Z. GOVT. LOANS- & s. d. £ s. d. 4J p.c. Ins. Stk., 193! 99 7 G 41 p.c. ditto, 1938 ... —- 99 7 6 fll p.c. ditto, 1941 ... 99 0 0 —. 4J p.c. Bonds, 1930 .. 99 5 9 - , — 5j p.c. ditto, 1933 ... 101 0 0 5* p.c. ditto, 193G ... 101 2 0 DEBENTURES— N.Z. Breweries (in14 0 Ditto (bonds) 14 0 Wanganui City, 5J p.c ioo o o 1915 —_ BANKSAustralasia . 15 1 0 Commercial o£ Aust. (ord.) - 1 11 0 Ditto (pref.) 7 2 0 English, Scottish, anc S 11 6 . _ New South Wales .. 50 0 0 New Zealand — 3 2 0 Ditto, long term mortgage 1 7 G - ■ — Union of Australia (Melbourne register) — 15 7 0 FINANCIALNational Mortgage .. 4 0 0 —— N.Z. Guarantee Corp. (ord., Ss.) 0 8 9 0 9 0 Ditto (pref.) 1 .1 0 ' N.Z. Invest. Mortg. and Deposit 0 9 0 — Wgtn. Deposit and Mortg 0 9 9 GASAuckland (paid) 1 3 3 —— 0 is 1 1 4 9 1 5 6 Wellington (ord.) ... 1 9 3 INSURANCE- — 0 16 7 Soutli British — 3 4 0 MEAT PRESERVING— N.Z. Refrigerating ( a: 1) —~ 0 19 8 Ditto (10s.) — 0 9 2 Well. Meat Export 0 10 0 0 12 6 Ditto (pref.) 1 2 G TRANSPORT— Iluddart- Parker ord.) 2 8 G p. and 0. def. stock. 38 0 0 —— WOOLLEN Kaiapoi (contrib.) ... 0 3 11 —— Wellington (ord.) ... 6 8 0 — Ditto (pref.) 6 9 0 —— COAL— ’ Westport —-- 1 11 0 . —— 0 14 0 TI MISER0 7 <» Lcvland-O’Bricn .... 1 13 3 BREWERIESNew Zealand 2 8 0 — S UU 6 111 H 0 •—* 0 15 0

MISCELLANEOUS— C. AL Banks (ord.) .. 1 2 6 — British Tobacco (Aust.) (ord.) 2 3 0 2 9 Burns, Philp and Co.. 61 — 6 0 Colonial Sugar Dental and Medical 5 0 — 14 c Supply — 0 G 1 Howard Smith (ord.). 1 6 —- Newton King (pref.) 0 6 6 —■ N.Z. Drug Co (> 11 0 — Sliarlaud & Co. (pref.) 0 19 9 19 Wilson’s Cement .... —— 1 3 MININGMount Lyell 1 14 0 1 14 10