DEALINGS ON ’CHANGE

Dominion, Volume 30, Issue 261, 31 July 1937, Page 14

DEALINGS ON ’CHANGE

Yesterday’s Business RETURN ON INVESTMENTS Sales reported on Dominion Stock Exchanges yesterday are shown in the following list. In the second column is given the return based on the last annual dividend from investment at the quoted price. In calculating the return on shares in companies which pay their dividends outside New Zealand the exchange rates have not been taken into consideration, the return on 4 per cent. Government mans includes redemption. in the ease or 3* per cent, loans the return is for the interest alone, and covers only the period for which the loans are tax-free:— WELLINGTON. field p.e.

VICTORIA LAUNDRY CO., LTD. Increase in Operating Costs

At the annual meeting yesterday of the Victoria Laundry Company, Ltd., Mr. W. S. Wheeler, chairman of directors, in moving that a dividend of 5 per cent, be paid, said it was regretted that the dividend could not be increased; it was necessary that the company conserve its resources as much as possible. Reviewing the past year, Mr. Wheeler said that taking into account all the circumstances. the directors were very pleased to be able to announce the satisfactory profit of £3249/2/2, which represented a slight increase ou the profit for the previous year. He stressed the point that, although the turnover had been higher than since 1931, costs - had been very considerably higher. The company’s wages bill alone was £5710 more than for the previous year, the total wages paid for the past year being £29.740. The company had also had to meet a very heavy increase iu income tax. Although some difficulty had been experienced in organising the company’s large equipment to fit in with the 40-hour week and other restrictions placed upon it, the high standard of service the company had, always tried to give to its clients had been maintained.

Mr. Wheeler praised the loyalty and co-operation of the staff, through whose efforts the output of the laundry had been so efficiently handled. It was difficult to forecast with any degree of accuracy what the future held in store. With increasing costs there was only a certain limit to which they could go so far as concerned the passing on to the public of extra costs. If any further restrictions were imposed, it would have the effect of curtailing the company’s business. It was only because of the large turnover that the company had been able to show a profit, and any reduction of the turnover would have a detrimental effect on future results.

The annual report and balance-sheet, a summary of which has been printed in this column, were adopted, and the retiring director. Mr. Will Appleton. was re-elected. Messrs. Dymock. Mac Shane and Sclanders were reappointed the company’s auditors.

BUTTER MARKET FIRM New Zealand Advances to 119/By Telegraph.—Press Assn.—Copyright London, July 29. The butter market is firm. Danish. 124/- a-cwt.; choicest salted and unsalted New Zealand, 118/- to 119/-; Australian, 117/- to 118/-. The cheese market is firm. New Zealand, white 75/- a cwt., coloured 72/-.

Sale Price. £ s. d. on investment. £ <s. d. Inser. Stuck, 3j P«c., 1938-52 103 5 0 o 7 11 Comm. Bank Aust. ... 0 18 1 13 S Equitable Building — N.Z. Guarantee Corpn. •0 11 0 0 5 0 1 9 16 8 Grey Valley Coal .... ‘0 8 3 British Tobacco .... 2 V 6 3 4 i Dental and Medical . *O 12 0 6 13 4 Q j Coles 5 10 0 t — Ditto 5 10 3 t — Australasian Pulp and Paper .......... 1 13 4J 4 15 10 General Industries ... ‘10 0 7 16 3 Sharland and Co 0 19 0 o 5 3 Moturoa Oil, ord. ... 0 3 1 Mount Lyell .•••••• ♦2 2 9 4 13 6 D itto .............. *2 2 10 4 13 4 Ditto »2 2 7 4 13 11 Ditto .............. ♦2 2 8 4 13 9 Kawang ♦ Tin •«••*••• 0 12 0 Unofficial list; McKenzies Dept. Stores 4 3 0 4 4 4 Ditto, odd lot 4 3 0 4 4 4 Woolworths Ltd 6 13 0 1 17 7 ♦Late sale Thursday. JBonus issue pending. AUCKLAND. £ s. d. £ s. d. Govt. Bonds. 1 p.c.. 15/2/43-46 104 10 0 3 11 8 Comm. Bank Austr. 0 18 1 3 13 8 National Bank of N.Z. (2) 3 0" ?4 2* 4 Bank of N.Z. (2) 2 4 6 4 9 10 N.Z. Insurance 3 6 9 z 19 11 Dominion Investment . 0 18 0 i) 11 1 Farmers’ Auction., A pref. 13 6 4 5 1 G. J. Coles 5 10 0 K.D.V. Boxes, eoiitr. . 0 4 6 — N.Z. Newspapers 1 16 9 <J 8 0 N.Z. Paper Mills 16 9 o 4 8 Wilson’s Cement 1 0 0 7 10 0 Golden Crown 0 5 0 —— Martha Mine 0 15 2 13 3 8 Waihi G. Junction ... 0 3 0 11 *> •> Unofficial list:— Woolworths Ltd • 6 13 0 1 17 7 tDividend paid in sterling. JBonus issue pending CHRISTCHURCH. £ s. d. £ s. d. N.Z. Kefrig., 10/- paid (2) 0 9 6 5 15 9 N.Z.' Breweries, contr. (2) 1 14 6 ■ British Tobacco 2 9 6/ 3 4 7 Broken Hill Ppty. (3) 4 2 0 3 Oil Ditto (4) 4 2 3 0 9 Consolid. Brick (2) .. 0 9 2 >• — Ditto 0 9 I Electro. Zinc, ord. (2) 2 16 9 6 3 4 Ditto, pref. (2) 2 18 0 6 0 8 Taranaki Oil 0 4 10 —— Ditto (4) . 0 4 11 — Victoria Nvanza 0 18 10 <_> 3 8 Wilson’s Cement 10 0 7 10 o Wilcox Mofflin 0 13 10 7 + 6 Woolworths (S. Africa), (3) 0 17 9 L Broken Hill South ... 2 7 8 7 6 10 Ditto (3) 2 7 9 7 6 7 Mount Lyell (5) ..... 2 2 9 4 13 b i Mount Morgan (3) ... 0 11 . 5 — Ditto 0 11 44 Ditto (2) 0 11 74 Sales reported:— National Bank of N.Z. 3 0 3 |4 2 0 British Tobacco 2 9 6 3 4 7 Broken Hill Ppty. ... 4 2 .0 3 0 11 Dunlop-Perdiau .... 13 8 4 4 6 Electro. Zinc. pref. ... 2 18 0 •i 0 8 N.Z. Newspapers 1 16 9 3 8 0 Victoria Nyanza •0 18 6 3 4 10 Radio (193’6) 1 5 0 —— Mount Lyell 2 2 8 4 13 9 Unofficial list:—Woolworths Ltd 6 13 0 1 17 7 Ditto (3) 6 12 9 1 17 8 “Late sale Thursday. ■ Dividend paid in sterling. DUNEDIN. £ s. d. s. d. N.Z. Refrigerating ... ‘0 19 10 10 10 N.Z. Breweries ‘2 10 6 3 7 3 Associated News, pref. 1 3 11 o 0 4 Broken Hill Ppty 4 2 3 3 0 9 Consolid. Brick *0 9 4 Broken Hill South (2) 2 7 10 >- 6 4 Mount Morgan (2) .... 0 11 6 — ♦Late sale f L'hursday.