A STRONGER TONE

Dominion, Volume 30, Issue 186, 4 May 1937, Page 12

A STRONGER TONE

Australian Share Markets BROKEN HILL’S ADVANCE (Received .May 3, 8.50 p.m.) Sydney, May 3. The outstanding feature in a quiet market on the Sydney Stock Exchange to-day was the sharp recovery of Broken Hill Proprietary new shares, which rose 3/- to 77/6. Barriers were a shade firmer. Industrials were firm but slow. Sales: .National Bank. £5 paid, i'i ,17/6; Colonial Sugar, £45/17/6; As.so- • eiated News, 23/-; ditto, pref., 23/6: , Australian Gas, A, £7/6/6. i British Tobacco, 49/9; Tooths, 58/3: Carlton Brewery, 64/-: G. J. Coles', £5 8/-; ditto, New Zealand delivery, £5 ,8/-. . Amalgamated Wireless, contributing. New Zealand delivery. 48/9; W. H. Soul, 85/-; Kandos, 24/3; Taubmans, 71/-; Goldsbrough Mort, 38/103. Electrolytic Zine, 59/6; Anthony Hordern, 20/9; ditto, pref.. 23/3; Yana Falls. 42/-; YY’onlworths. Ltd., sale, £7 i 5/-; Woolworths (New Zealand), buyer, £7/15/-; seller, £B/1/-; Selfridges (A/asia.), cum dividend, buyer. 33/-; seller. 35/6: Selfridge;? (New Zealand), buyer 3/-, seller 3/9. Mt. Lyell. 46/6; Broken Hill Proprietary, 84/-; ditto. New Zealand delivery, 83/6; ditto, new. 77/6; South Broken Hill, 49/6; North Broken Hill, 73/9; Rawang Tin, 11/8: Taranaki Oil. 4/11. I Morning sales included: —Common- | wealth Bonds, 3J per cent.. 1949, £IUO I 2/6; -I per cent.. 1953, £lOl/17/6: 4 per | cent., 1959, £lOO/3/9; Commercial j Banking Co. of Sydney, £22/17/;; Bank lot New South Wales, £3B/7/6; Wileox I Molfliu. 14/-; Tooth's Brewery, 58/3; ! Broken Hill Proprietary. 83/-, and new, 76/9; Electrolytic Zine, 59/6; Morts Dock, 13/-. Melbourne, May 3. I On the Melbourne Stock Exchange today. the markets were generally better. Broken Hill Proprietary, Barriers and Mt. Lyell were firmer in expectation of a gradual improvement here and overseas. Sales Commercial Bank of Australia, 19/6: National Bank, £5 paid. £7/18/-; I Adelaide Steam. 33/-; Howard Smith. 23/-; Carlton Brewery, 64/-; G. J. Coles. £5/7/6. , Australian Iron and Steel, pref., 26/6; Australian Glass, 88/9: Dunlop-Perdriau. 21/2; Goldsbrough Mort. 39/1 i: Electrolytic Zinc, 59/-; ditto, pref.. 59/3: Australian Paper, rights, 2/4; Melbourne Electric Stock. IS/4: Yam Falls, 42/-: Silverton Trams. 36/6. Mt. Morgan. 14/11; Mt. Lyell, 46/3; Broken Hill Proprietary. S3/6; North Broken Hill. 73/6; Broken Hill South, 49/-; Emperor. 16/8: Loloma. 20/9. BURNS. PHILP AND CO., LTD. Increased Net Profit Burns. Philp and Company. Ltd., an island merchant and shipping company, reports a net profit of £226.067 for the year ended March 31. compared with £216,979 the previous year, and £211,006 for 1934-35. The dividend is maintained at 10 per cent., requiring £150.000. A sum of £75.000 is to be transferred lo reserve, making that item £1.125.000. and £32.135 will be carried forward, against £31,00S brought forward. Gross profit increased by £105,859.-The amount written off to depreciation was £103.091. Year ended -.Marell 111.

The directors state that sales of merchandise increased to a new high level, ancl that shipping and trading operations produced satisfactory results. Better prices were obtained for copra, and subsidiary plantation companies improved their plantations and acquired additional planted areas. Orders have been placed for a modern passenger and cargo motor vessel for the Austral ia-Panua-New Guinea mail service, and for two small motor vessels for inter-island trade. The new issue, at par, of 500,000 £1 shares has already been announced. The balance-sheet is presented in more detailed form, particularly the items formerly grouped under the heading ‘‘property, shipping property, and investments.” . * GENERAL MOTORS-HOLDENS Increase in Net Profit General Motors-Holden's, Ltd., made a net profit of £746,671 for tile year ended December 31, compared with £673,057 for 1935. During the year a dividend of 25 per cent, on ordinary shares, in addition to the 20 per cent, paid in 1935 (out of 1934 profils), was paid out of profits earned in 1935, and absorbed £241,450. Thus, with £159,168 surplus and the profit for last year, £905.839 is available for distribution. Dividends of 40 per cent, on or-linai'y shares, requiring £386,320, and 6 per i cent, on preference shares, absorbing ' £33,696. are recommended, leaving £485,8' ” to be carried forward. The net prolit for .1936 is struck after making the usual provisions and distributing £60.55l as a bonus to employees. All the ordinarj' shares except those held liy directors representing Holden inz terests are owned by the General Motors Corporation. The directors state that each section of the company's operations showed an increased sales volume, improved oiierating efficiency, and increased net profits.

Gold Mining Returns 'l’ll., following is the official relurn of I gold won by tlie New River Gold Drcdg--1 I in" l’on>|>anv*s dredge during (lie period I ended April 29: Gold. 910 z... from I 1.00(1 I yards treated in 181 hours’ dredging , Al an exlraoidinnrj- nieeling of sharei holders of the Brian Born Gold Dredging I Company, tlie Hon. G. It. Hunter presid- ' ill", ii was decided to iiccci’t tlie tender 1 of .Ylr. A. Yl< l.uskie. on behalf of a syndicate. fol- CG.'.OO for ih- dredge, trnns- ■ former, lines, elc. It is proposed lo move the dredge lo an linn near tlie Argo ' I claim. By To|egr. l pl>—Pros Association. Dunedin, May 3. Dredging returns are reported as follows :— i YY'nip.ipa Bea.-li, 21oz. lOdwt. for 129 hours. I Goldfields. 17oz. 7<lwOkarito, 270 z. Illdwt. for 1604 hours. The YVaiialm Gold Mining Companj' reports the emnplelion of work in No. 12 paddock, tin' lilial wash-up amounting to 72 ounces lOdwt for 2-1 shifts of eight hours each. The total gold won from tliis paddock was 218 ounces 9 dwts. Westport, May 3. Addison's Flat return for the fortnight. ended April 28 is 470 z. for 36 shifts. Murchison. May 3. I Tlie Ylntaki .1 unction return for tile I week ended April 29 was 570 z. 17dwt. ' 17gr. for 122 hours anti 26.000 cubic yards ! dred'.md.

I For the four weeks ended April 22 the ! gold recovered totalled 220 ounces valued l nt £1650. The time worked was 302 hours, the yardage was 58.000 cubic yards, and , working costs totalled £1033. i Auckland. May 3. The Malaki dredge, during April, i worked a total of 31,069 cubic yards for ;1 return of S 9 ounces 10 dwts 20 1 grains.

1035. 1936. 1937. £ £ Net pro tits .... 211,COG 2HK97& 226.067 Div., 10 p.c. ... 150.000 150.000 150,000 To reserve .... Special deprecia25,000 50,000 75,000 tion, copra plantation 25.000 25,000 — Carried forward 39, OSO 31.068 32,135 Expenses, etc. . •159.839 508.518 600.4 4 S Depreciation, etc. Gross profits ... 121.995 792.841 131,621 860,118 139,162 965,977