GORDON AND GOTCH

Dominion, Volume 30, Issue 64, 9 December 1936, Page 14

GORDON AND GOTCH

Increased Profit Shown ■ DIVIDEND UNCHANGED Profits of Gordon and Gotch, Ltd., wholesale dealers in publications, papers, etc., continue to rise. For the half-year ended September 30 a profit of £41,970 is recorded, making a total profit for the 12 months of £79,560. This compares with a profit of £65.210 in 1935, £63,860 j in 1934. and £56.960 in 1933. After pro- I viding £BOOO for the 8 per cent, prefer- ! enee charge, which was earned nearly 10 times, the remaining profit equals 14 per cent, on ordinary capital. Distribution to shareholders is being made at the rate of 12 per cent, per annum, comparing with a dividend of 10 per cent, in the three preceding years. Profits and dividends in the last three financial years to September 30 compare

Over the year cash and investments have risen from £241.000 to £262,000. Increased business is reflected in increased debtors, which now- stands at £274,000, compared with £252,000 a year ago. Stocks have risen from £178.000 to £183,000. The Melbourne market values the ordinary 20/- ehares at 52/9 to return 4.5 per" cent. The 8 per cent, preference shares arc priced at 34/- to yield 4.7 per cent. Assets and liabilities in the last two

FOREIGN EXCHANGE Position of Sterling By Telegraph—Press Assn.—Copyright. London, December 7. The following mean closing rates on foreign exchanges were current to-da.v compared with those ruling on December

Gold nnrt Silver. London, December 7. Gold.—£7/2/1 per ounce, fine. Silver.—i Spot, 21 5-16 d., an ounce; forward, 21 o-16d. \ On New Zealand Currency Basis The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales ot foreign exchange yesterday:—

' The Associated Bunks (oilier than Hie Bank of New South Wales) quoted Hie following dollar rates yesterday o n a New Zealand currency basis. They are subject to alteration without notice.

GRAIN AND PRODUCE Auckland Markets Dominion Special Service. Auckland, December 8. New potatoes are plentiful and are selling cheaper than a week ago, but the price fluctuates from day to day. Merchants are quoting from 3/3 to 3/9 per sngar-bag. Canadian onions' are now in short supply and the price has been raised to 27/(1 per 1001 b. hag. There .is no improvement in the maize situation. Supplies are very scarce and merchants have raised their rates 2d. a bushel to 7/3. This applies to local and to imports from Java. The price is al most prohibitive and consumption is light. Barley also is very nrm at the source of supplies, namely, in Australia, but fair stocks are held locally and rates are unchanged at 5/- per bushel for clipped and 4/9 for unclippod. In horse feed, oats are unchanged at 4/8 per bushel for B Gartons, but chaff has advanced 5/- to £S 12/6 per ton. Australian pollard is very firm across the Tasman, but merchants are fairly well stocked nt the moment ami the price is unchanged at £9/2/6 per ton. Bran is a quiet line at present, with no change in price.

as under: — PROFITS 1034. 1935. 1936, Six months to — £ £ £ March 31 . .. 30,830 31.660 37,590 September 30 33,030 33.550 41,970 Total .... 63.860 65,210 79,560 DIVIDENDS . 58.000 58.000 68.000 Pref., p.e. .. 8 8 8 Ord., p.c. . . 10 10 12

years compare as under •— 1935. 1936. ASSETS. £ £ Cash and investments 241.000 262,000 Debtors, etc 252,000 274,000 Stocks, etc 178,000 183,000 Propertv and plant . 202.000 258,000 Goodwill 118,000 118,000 LIABILITIES. 100.000 100,000 500,000 500,000 • Reserves 250,000 260,000 Taxation reserve .... 2(1,SOO 31.400 Creditors, etc 112,400 134,3(H) Profit and loss a/c. .. 01.SOO 68,300

u:~ Dec. 7. Dec. 5. Par. N. York, dol. to £ -I.8915-16 4.89} ±4.866 Montreal, dol. to £ 4.89 5-8 4.89 5-8 4.866 Paris, fr. to £ 105 9-64 105 9-64 124.21 Brussels, bel. to £ 28.95 28.9,75 48.611 Geneva. fr. Io £ 21.32 21.32 25.225 Amst’dani, fl. to £ 9.065 9.01 12.107 Berlin, inks, to £ 12.18 .12.17 20.43 St’liolin, knr. Io £ 19.395 19.3115 18.159 C’hagen, knr. to £ 22.40 22.40 18.159 Oslo, knr. to £ 19.90 19.90 18.159 Vienna, sehgs. to £ 26.5(1 26.50 34.585 Prague, knr. to £ 138.50 138.625 164.25 Hel’fors, inks, to £ 226.75 226.75 193.23 Madrid, pes. to £ — 25 225 Lisbon, esc. to £ 110} 110 3-16 110 Milan, lire to £ 93 3-8 113 3-16 92 Athens, drach. to £ *5474 *5474 375 Bucharest, lei to £ *6671 *6671 813.60 Belgrade, din. to £ 213 213 276.31 It Io de J., p. to mil. 14} tlf 5.899 B Aires, p. to peso — 47.62 M. Video, p. to peso *39 7-8 *39 7-8 51 Calcutta, p. to rap. IS 1-8 18 1-8 18 Shanghai, p. to dol, 14 27-32 : 14 9-16 — H.-Kong, p. to dol. 1415-16 1415-10 Y’hama, p. to ven 13 15-16 13 29.32 24.582 Batavia, fl. to £ 8.975 8.975 12.107 i'Sellers. official. ‘Sellers. ±I?ar, 8.23 31-32 since dollar devaluation on February 1, 1934.

New Zealand Buying Selling. on London T.T. 124 124/10/-£-N.Z. to £ stg. 100 O.D. J 23/10/ 124/8/9 Australia T.T. — — £A to £N.Z. JOO O.D. 101 100/10/Fiji T.T. — —— £F Io £N.Z. JOO O.D. 00/7/f so New York T.T. 3.1)61 0.02J Doi. to £N.Z. . O.D. .3,071 3.93} Montreal T.T. 3.96 .3.921 Doi. to £N.Z. . O.D. 3.971 3 93 Austria T.T. — 20.55 Seligs. to £N.Z. O.D. — 20.57 Belgium T.T. — . 23.120 Bel. Io £N.Z. . O.D. — 23.131 Czechoslovakia T.T. — 110.35 Crs. to £N.Z. O.D. — 110.40 Denmark T.T. .18.203 17.893 Kr. to £ N.Z. . O.D. 1S.263 17.003 France T.T. — 84.23 Frs. to £N.Z. . O.D. — 84.27 Germany T.T. — 9.713 Mks. to £N.Z. . O.D. — 9.718 Holland r r/J\ — 7.1S5 ■ FIs. to £N.Z. . O.D. — 7.189 Italy T.T. — 74.56 Lire Io £ N.Z. . O.D. -- 74.01 .lava .... T.T. -- 7.145 FIs. Io £N.Z. . O.D. — • 7.119 Norwav T:T. 16.181 15.S91 Kr. to £N.Z. . O.D. 16.241 15.901 Sweden T.T. 15.7S5 15.490 Kr. to £N.Z. . O.D. 15.845 15.500 Switzerland .... T.T. — 17.037 Frs. to £N.Z. . O.D. — 17.642 Noumea T.T. — 82.86 Frs. to £N.Z. . O.D. — 82.92 Papeete T.T. — 83.01 Frs. to £N.Z. . O.D. — 83.07 Hong-Kong T.T. IS fl12 IS 25-32 N.Z. d. to 1 Doi. O.D. 181 18 49-64 India and Ceylon T.T. 222 N.Z. d. to 1 Blip. O.D. 22 11Japan T.T. — 17 13-32 N.Z. d. to 1 Yon. O.D. — . 17 2.1-lil Shanghai T.T. 17 5714 IS 25-61 N.Z. (1. to 1 Doi. Singapore O.D. 17 55 (14 IS J T.T. 34 2332 35 13-64 N.Z. d. to 1 Doi. O.D. 34§ 3;> 3-16 Cliefoo T.T. 17 2ft32 IS 17-32 N.Z. to 1 Doi. . O.D. 1755>4 IS 33-64

U.S.A. Doi. Canadian Dnl. Selling (Per £1 N.Z.) (Per £1 N.Z.) T.T. 3.928 3.92} 0.1). 931 3.93 Buying O.D. 3.97} 3.97}