GUARDIAN TRUST

Dominion, Volume 26, Issue 29, 28 October 1932, Page 14

GUARDIAN TRUST

Annual Meeting at Auckland PROGRESS OF THE COMPANY At the annual meeting of the Guardian Trust and Executors’ Company, held at Auckland yesterday, Mr W . L. M ton, acting-chairman ot directors ot the boutli British Insurance Company, referred to the continued progress of the Guardian Trust. -Assets now under administration and control ha-d -reached the total value ot £10.432,857. New business for the year, excluding debenture -trusts, was £868.2.»_. Realisations amounted to Emo, oil, lea.iug a net increase of £.’>l4,J4;>. "It is in times' like these that the. benefits of corporate trusteeship become, emphasise*,” said the chairman.. * Supervision of properties, prompt attention to rent and interest collections, close investment ot funds..and regular,accounts and rau.tances to clients, can only be given by an organisation specialising in such work. “The financial resources' of the company have repeatedly been made available to clients in the direction of advances tot death duties and other liabilities, and :i» a result it has been possible to consrr.c the assets, of estates where a forced realisation would have been disastrous. “A special feature has been made in our advertising of-the importance of clients revising their wills nt view of falling -values of .securities and invent , meats. - -Cases are continually arising' where, through lack of .foresight and failure to review the provisions of y 1 1 .1 5 a few years ago, testators have, inflicted serious 5 hardships on their families. It cannot be too strongly urged on thinking person that there is a definite obligation, today to consult his solicitor and review the provisions of liis will to ensure that his dependents will actually recenc the-benefits to which they arc entitled,, and which the testator would desire them to have,” _ ' FOREIGN EXCHANGES Position of Sterling - London, Oct. 26. quotations on October j,, I>ar .

! ■ , i Gold and Silver. - London, -:Oet. 26. Gold— £6/4/3 per fine ounce. • Silver—Cash, 17 Jd per ounce; forward, 17 7-Sd.'

BASE METALS MARKET General Weakness in Prices (Rec. October 27, 8.20 p.m.) Sydney, Oet. 27. '■’•The official London (middle) quotations for Wednesday as received by the Australian Mines and -Metals Association, compare as under with those previously

HENRY JONES CO-OP., LTD. Dividend Maintained Henry 1 Jones Co-operative, Limited, Melbourne, ’ yesterday advised the Stock Exchange Association that the directors had declared a dividend of 1/3 per share, payable on December 1. The share registers will close from November 12 to 26, inclusive. The dividend is at the same rate as for the previous year—namely, 6-J per cent. MOSGIEL WOOLLEN CO. Dividend, 10 Per Cent. Dominion Special Service. Dunedin. Oct. 27. The annual report of the Mosgiel Woollen. Factory Company, Ltd., discloses a satisfactory position. It states' that, notwithstanding depressed market conditions, the results of the year’s operations must be regarded as satisfactory. After payment of an intefim dividend on April 6, which absorbed £3815/4/-, and provision -of £5OOO for depreciation and' transfer of £2OOO to reserve fund, there remains a balance of £15,768/7/7, which the directors recommend should be disposed of as follows-Payment of a final dividend of 4 per cent., and a bonus of 2.per cent., absorbing £5722/16/-. ami making 10 per cent, for the year, and the carrying forward of £10,045/11/7. The distribution is at the same rate as for last year. BUTTER MARKET WEAK Cheese Prices Steady The New Zealand Loan and Mercantile Agency Company, Limited, have received the following advice from their London house, dated October 26: —Dairy produce (last week’s figures in parentheses) : Butter, New Zealand choicest salted, finest. 105/- to 108/- per cwt. (100/- Io 110/-) : firsts, OS/- per cwt. (101/- to 102/-). The Market is stagnant and quotations are irregular, but an improved demand js expected shortly. Cheese, white, 65/- to 66/- per cwt. (65/-) : coloured, 59,/- to 60/- per cwt. (59/- to 60/-). Market steady. ■ Cabled advice dated October 26 has been received by A. 11. Turnbull and Co., Ltd-. from their principals, W. Weddel and - Company, Limited, London, as follows Danish butter, 116/- to 118/-; New Zealand finest, 98/- to 1.08/-; Kangaroo, 94/to 98/-. Market weak. New Zealand white cheese, 64/- to 65/-; coloured, 59/to 60/-. Market steady. Joseph Nathan and Co.. Ltd., have received the following market report from Trengrouse and Nathan, Ltd.. London, dated October 26: —New Zealand butter, finest, 106/- per cwt.'; first, 96/-.

N.York, del. to. £ 3.291 • 3.301 4.860 . Montreal, dol.. to £ Paris, fr.. to ,£..... Brussels, pel. to £ Geneva, fr.lto £.. Ainst’datn, fl. to.£ Milan, lire to £ .. Berlin, inks, to £.. St'holtn/ knr. : to £ 3.615 3.605 8311-10 84' 23 21 -32 23.725 17.07 17.095 8.1S5 : 8.195 64 5-10 64.375 13.855 13.885 19.20 19.10 4.866 124.21 35.0(1 25 225 12407 92.46 20.43 18.159 C'ihagen; knr. to;£ Oslo,- knr., to £ .. Vienna, schgs. to £ 19.195 19.20 19.65 19.55 *28.50 *28.50 ' 18.1.'9 18459 31.585 Prague, knr. to £ 111.25 111.50 • 164. Hel’fors, inks, to £ 230 230 193.23 Madrid, pcs. to £ Lisbon, esc. to £ Athens, drach. to £ 40.25 40.25 109.50 , 10Q.50 110 375 Belgrade, din. to £ 813.60 Bucharest,, lei to £ Warsaw, zloty to £ Rio de J., P. to mil, •59-32 *5 9-32 43.38 16.70 B. Aires, p. to peso 47.62 M. Video, p. to peso *30 *30 51 Calcutta, p. to rup. Shanghai, p. to tael 18 1V64 18 U-64 18 21 11-16 2111-lb —' H.-Kong, p. to dol. 161. 16 7-16 Y’hama, p. to yen.. Batavia, .gl. to £.. 16J 16 7-16 24.582 , • —• 12.107 ♦Nominal.

cabled:— Oct. 25. Oct. 26. Per ton. Per ton. CopperStandard, «pot ... :C S d 31 H 10J Usd 30 13 14 Standard, forward 31 14 4i • 30 15 7} ♦Electrolytic 35 10 0 35 0 0 ' ! ■ ► 1 - " tO 36 10 0 . «>6 0 0 . Wire bars ........ 36 10 0 ; 36.0 0 . Lead— . It IS 9 11 12 fi 12 3 9 11 17 6 Spelter— ■ 15 3 9 15 1 3 15 . S ■ 9 15 6 3 Tin— . . . , 153 It- 3 152 3 9 ■f Forward 153 17■ C 152 12 6 Silver— , , Standard, per or... ISd 17}d Fine, per oz. ..... 19 7-8d 191-Sd ♦American, 5.50 cents per lb. fAmerican, October, 22.30 cents a lb.