FINANCE and COMMERCE
STOCKS AND SHARES . Wellington Exchange VERY LIMITED-DEMAND The shortest, buying' list for many weeks was'the'feature of the Wellington market yesterday, only 18 bids being listed. Four sales were recorded • dicing the day, and there was .a fairly full list of selling quotations.' The market is steady at the rates ruling since the beginning of the week - For Government, securities' there was a moderate demand. The 54 per cent. Stock (1941) were wanted at £95/10/-; the 5J per cent. I Bonds (1933) ■at £99/10/-, a drop, of 2/6; and the 5j .per/cents. (193G1 at £99/7/6. Wellington Gas (debentures) were wanted 'at ’ £99, with. a sale at £O9/5/-.' ■ , i . " ■ . Bank!,shares were very slow, buyers having- withdrawn from - the , market. The only bld made was £5/12/0 for National Bank of New Zealand. Sellers of English Scottish and Australian -Bank reduced the price. 6d. to £5/7/6,; but .there was a sale at £5/0/0. The selling price of Bank of New'South' Wales has been reduced 10/- to £3l/17/0. Sellers of Commercial Bank of Australia are holding for 17/4. Goldsbrough Mort and Co. were wanted at 21/-, but sellers asked 22/3;.New Zealand Guarantee Corporation were steady at 7/-, and Wellington Investment were unchanged at 10/3. Wellington Gas were firm at 28/9. Now Zealand Refrigerating (20/- paid) were wanted at 8/6 with no sellers. Huddart, Parker (preference) were steady at 19/5: P. and O. deferred stock at 40/- were 2/- lower. New Zealand Breweries at 40/9 were 9d. higher, and there was a sale at 42/1. British Tobacco were wanted at 31/0 with a sale at 31/9. There were bids off 17/9 for Electrolytic Zinc (preference), 8/0 for National Electric. 16/- for New Zealand Farmers’ Fertiliser, and 12/6 for Consolidated Brick and Pipe. ; Yesterday’s Quotations Buying and selling quotations at yesterday’s final call on the Wellington
■ LONDON STOCK EXCHANGE ' ’' ' _ ' 1 Banks ancl Debentures . ■ London, November 25. On the Stock Exchange to-day quotations of Australian and .New Zealand banks and other corporation debentures compare '.with .previous .quotations . as follow:— 1 ' '• j ‘ _ Nov: 11. i jNov. 2u. Banks — ■ . £ s.. d.- f.£s. d. Australasia ...... 918 9. 9 5 0 New South Wales .. 28 10 0 28 5 0 Union 1 of 'Australia 8 18 9 8 1 3 National of ; N.Z. " 5 18 9 5 11 10$ N.Z.', 'i ipic., guar- > anteed stock .... 95 0 0 94 0 0 New Zealand shares 213 9 *2 14 3 N.Z. Loan & Mercantile ~ mortgage, 4 p.c. debentures .. 68 10 0 69 10 0 N.Z. Loan & Mercantile ord. stock 80 0 0 83 0 0 *Ex' dividend. ''SYDNEY STOCK-EXCHANGE Bank Shares Easier (Bee. November 26, 8 p.m.) Sydney, November 28; Business on the Stock "Exchange is quiet, and much below normal. Commonwealth Bonds continue to show irregularity. Bank shares-are easier, Including Bank of New South Wales, which to-day dropped a point to £33/2/6. The statement Issued of this bank’s accounts will be released at the annual meeting on Friday, COLONIAL SUGAR CO’. Australian Costs , Sydney, November 26. Giving evidence before the commission Inquiring into the sugar industry, Mr. Henry Goldfinch, general manager of the Colonial Sugar Refining Company, said that during the past three years the company had earned 7.5 per cent, interest on its capital, the cost of which had been written down, and was about half the cost of replacing the mills to-day. Profits amounted to not more than 14/0 per ton of sugar relined. The company provided an organisation for selling in Australia at a charge of 7/per ton, which was less than 1 per cent., and as agents for the. Queensland Government it financed the whole business in respect to Commonwealth requirements, except for 12,000 tons refined by the Millaquin Company, at a rate of interest below bank rates. Moreover, it financed the whole business in respect to surplus sugar gratuitously. The company had hot taken part in fixing the rate of sugar, nor had it sought to obtain any Increase in margins allowed for relining and selling. Working costs, wages, and materials were heavier in Australia than in any other country, but the rate of profit was substantially less. The mills were efficiently equipped, employing 90 per cent. British labour. Witness added that the company had always treated. Press criticism of the company’s affairs with the silence it deserved, ■ because such criticism was usually written by irresponsible people ignorant of the facts. AUCTION SALES TO-DAY. Wilf. Mexted’s Yards, Tawa Flat, 1 p.m.— Unreserved clearing sale (W.fa. & Co., 9 Onepir Road, Lyall Bay, 1.30 p.m.—Sale high-class furniture (E. Johnston & Co.). Waikanae —Sale. „ , . , . 91 Dixon St., 11" a.m.—Sale boots and shoes (C. W, Price). 1 Auction Arcade, Courtenay Place, 10.30 a.m—Continuation Drapery Sale (Samson Bros.) SATURDAY. A S 3 Waitoa Rd., 'Hataitai, 1.30 p.m.—Sale furniture, etc. (I. Silverstone & Co.) Oxford St., Levin, 1.30 p.m.—Sale furniture, etc. (0. K, .WoodroopoL
DEALINGS ON ’CHANGE Yesterday’s Business DOMINION SALES The following sales were recorded on the Stock Exchanges of the Dominion yesterday : — WELLINGTON. £ s. d.
WELLINGTON BUILDING SOCY.
Last Year’s Results
The directors of-the Wellington permanent -Building Society, in their report to be presented at the sixth annual meeting to-morrow, state that the business for the twelve months ended - November 11 resulted in a net profit of £4005/9/4. To this must be added £157/10/9, brought forward from last- year, making £4163/0/1, out of which an Interim dividend amounting to £’l4lo/17/11 has been paid, leaving £2752/2/2 to be apportioned. 'The balance-sheet showed that the paidup capital Increased by £10,224/19/6 during the year, the amount advanced' on mortgage by £25,458/10/-, an damount on deposit by £10,909/17/1.. The amount paid on “B” shares Increased from £lBll/1/8 to £3694 2/10. The directors recommend that a further dividend of 3} per cent, be paid, amounting to £l5BB/14/2, that £lOOO be placed to reserve, and that the balance of £163/8/-, be carried forward, the same rate of dividend to be paid on- both “A” and “B't shares.. ' '• ■ ' ‘ ' ■ ■ The retiring directors, Mr. E. P. Hay and Mr. W. M. Wright, offer themselves for re-election. The auditors, Messrs.. Petheriek and Webb, also seek re-election. THE TIMBER TRADE ■ Adverse Conditions Dominion Special Service. 1 Auckland, November 26. ' The : quiet conditions in the timber industry were referred to- by Sir George Elliot, chairman of directors of the Ley-land-O’Brien Timber Limited, at the annual meeting of shareholders today. . In,moving the adoption of.the annual report ■ Sir George Elliot said that 'under the; adverse circumstances prevailing the company had . made a particularly j good showing. In all its 33 years’..existence there had-never, been so little, timper-sold in any one year. The price had been a little- higher last year, but for 20. years the yield from sales had never been sci low. Last, month only 28 permits were issued for the construction of houses in Auckland, and the fact that this business was distributed among 25.’timber merchants illustrated the decline in trade that' was being experienced. .- ' ' The- company’s balance-sheet was much the same. Assets'were about £2OOO lower. and profits, were slightly less than last year. The company had a good dividendpaying record, having made a Continuous distribution"for 33 years. The repottand balance-sheet were adopted, -, ' ' ' ' ' '' 0 . \ ■ For the sixth year, in succession, the Leyland-O’Brien Timber Company has paid to the shareholders £10,600 by way of -dividend. In 1923 and 1924 the dividend absorbed £BOOO each year. The net profit is less by £973 than that shown last year, but .£4BB, more than in 1928. The expenses, which include wages, salaries; trade expenses, royalty, depreciation, bad debts, rents, rates, insurance, etc., totalled £25,026, as compared with '£24,703 in the previous year, an increase of £303. The net profit was more than the amount of the dividend by £l5BB, and this has been added to the amount brought forward, , after, deducting' directors’ honoraria, £49,043, making the carry forward £50,631. DALGETY & CO., LTD. A Press Association cable . message from London says there was an error in the transcription of the Hon. Edmund Packer's speech at Dalgety aiid Company’s meeting in London. As cabled on November 20, the message said: “Although there are probably lean times before us for-some years, the chairman had the fullest confidence in Australia’s ability to surmount all its difficulties and return In full to the prosperous times enjoyed in the past, in which. Dalgety’s business would participate as before; but he saw little prospect of improvement during the current twelve months. He held that they would do remarkably well If they were able to pay some dividend next year." The last four words should read “same dividend next year.’’ Commercial Bank Shares The Commercial Bank of Australia, Ltd., announces that until further notice no transfers of shares of the bank from the Melbourne register to the j London register will be permitted.
Stock' Exchange were as follow: I— ' ’ 1 . Buyers. Sellers. N.Z. GOVT. LOANS— £ S. d. . £ S. d. 44 p.c.Insc. Stk., 1938 — 99 0 0 ,54 p.o. ditto, 1933 ...• — - 99 15 0 5j p.c. ditto, ' 1941 ... 95 10 0 —— 54 p.c, Bonds,. 1933 ... 99 10 0 100 0 0 5J p.c. ditto, '.1936 ... 99 7 6 — DEBENTURES— Wellington iGas Co. . 99 0 BANKS— 0 100 0 10 17 0 Australasia — Aust, of Cnimerce .. — 0 0 19 0 17 6 ’ Commercial of Aust. (ord.) — 4 English, Scot. & Aust. *5 • 7 6 — National N.Z *5 12 6 Nat. A/asia. (£5) ... — *6 1 0 New South Wales .. — 32 0 0 Ditto (Sydney feg.) . — 31 17 •J New Zealand — FINANCIAL— , 2 17 0 Equitable Bldg. Co. . — 8 16 6 Goldsbrough Mort ... 1 1 N.Z. Guarantee Corp. 0 1 2 3 (ord.) 0 7 0 0 7 Well. Invest., T. & A. 0 10 ■ GAS— ■!' ' ,3 1 4 0 Wellington (ord.)' ... 1 8 INSURANCE— 9 1 9 t0 14 1 15 6 0 MEAT PRESERVING— , 9 N.Z. Refrigerat. (£1) 0 8 6 Well. Meat Exp. (pref.) .0 19 TRANSPORT— 5 — Huddart, Parker (pref.) 0 19 5 ■ —— P. and 0. def. stock . *2 0 ' COAL— . " . ' . - . 0 0 10 0 TIMBER— 0 t °° BREWERIES— 9 ■ MISCELLANEOUS— 1 12 British Tobacco (ord.) 1 11 6 0 Burns, Philp and Co. — 1 14 0 Colonial Sugar — 34 10 0 Dental and Medical . — 0 10 0 Electro. Zinc, (pref.) . 0 17 9 0 18 6 National Electric .... 0 8 6 — N.Z. Farm. Fertiliser 0 16 Wafrarapa Farmers’ 0 —. (pref.)>. ............ — 0 13 6 Wilson's Cement .... — *2 0 6 Consol. Brick 0 12 6 0 15 0 Moturoa Oil (3/- pd.) — MINING— 0 3 6 Mount Lyell — *1 0 6 •Cum. dividend. fEx dividend. 1
Wellington Gas (debentures) ... 99 5 0 English, Scottish, & Aust. Bank 5 .6 6 New Zealand Breweries 2 2 1 British Tobacco .......... 1 11 9 AUCKLAND. £ S. d. Takapuna Borough Council, 1945 101 0 0 Devonport Borough Council, 1944 101 0 0 Inscr. Stock, 4J p.c., 1938 98 17 6 Do., 4J p.c., 1939 ...... 98 17 6 Commercial Bank of Austr. .... 0 16 10 Bank of New South Wales ..... 31 15 0 Bank of New Zealand 2 16 6 Do ¥ 2 16 3 Do 2 16 0 N.Z. insurance (3) 2 3 6 Do 2 3 0 South British Insurance 2 17 0 Standard Insurance 2 10 0 Auckland Gas, contr 0 17 6 N.Z. Breweries 2 2 0 Colonial Sugar 34 0 0 Wilson’s Cement, ex dix. (2) .. 2’ 0 0 CHRISTCHURCH. £ s. d. Inscr. Stock, 5| p.c., 1933 09 10 0 Commercial Bank of Australia . 0 16 11 Ditto 0 16 9 Bank of New Zealand, cum. div. . 2 16 3 Union Bank of Australia (3) ... 9 17 6 Goldsbrough Mort 1 1 4 New Zealand Breweries 2 2 2 Ditto 2 2 6 Allied Motors 0 0 3 Australian Glass, cum. div 1 6 6 British Tobacco .' 1 11 8 ,1 .11 6 Electro. Zinc’ (pref.) 0 18 0 0 17 9 Mount Lyell, cum. div. (2) 0 19 6 Sales reported! New “Zealand Breweries . Whitcombe and Tombs ......... 2 2 3 3 8 6
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Bibliographic details
Dominion, Volume 24, Issue 54, 27 November 1930, Page 14
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1,974FINANCE and COMMERCE Dominion, Volume 24, Issue 54, 27 November 1930, Page 14
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