IMPROVED POSITION

Dominion, Volume 31, Issue 72, 18 December 1937, Page 12

IMPROVED POSITION

N.Z. L/oan & Mercantile Agency i ’ By Telegraph.—Press. Assn.—Copyright. London, December 16. Mr. Harold G. Brown, presiding at the annual meeting of the New Zealand Loan and Mercantile Agency Co., Ltd., stated that the scheme for the reorganisation of the company’s capital was now operative. The assets exceeded the liabilities by £3,600,000. The total reserves were £885,000, exceeding depreciation by £159,000. Tlie sum of £136,000 was available for dividends, which, on the preference shares, would absorb £50,000, allowing £31,250 for a 2J per cent, dividend on the ordinary shares. The company’s earnings were about 7 per cent, on the revised ordinary capital. The report was adopted. 2I cabled summary of the company’s results was printed in this column on December 6. Gold Dredging Returns Greymouth, December 17. Gold mining returns:— Nemona dredge, 70oz. for 91 z hours and 12,000 cubic yards. Baprytown return, first half of December, 3410 z. for 221 hours and 84,000 cubic yards.. There, was no wash-up l|y. the Maori Gully dredge this week owing to a broken bottom tumbler shaft. The dredge has resumed work and the final wash-up for the year will be made next Thursday. Keystone Investments, Ltd.

Keystone Investments, Ltd., a Wellington company, with an authorised capital of £50,000 in 200,000 shares of 5/- each, has gone to allotment. The company has been formed to operate as an investment company whereby the shareholders can see their money spread over a wide range of stocks and shares. The directors are: Sir Charles Statham, M.L.C., Mr. F. W. Fnrkert, C.M.G., Mr. Will Appleton, Mr. G. G. G. Watson and Mr. E. Shields-Brown. Mr. D. L. Irwin has been appointed secretary and manager of the company. London Eggs Market Firm By Telegraph.— Pr»*s» Assu. —Copyright. London. December 16. The egg market is firm. Seven teens. 1-1/9 a gross; sixteen.*, I 1/6: . fifteen*. 13/9 to J 4/-; fourteens. 13/3 to 13/6; thirteen and a half, 12/9 to 13/-. Overseas Wheat Markets By Telegraph. —Press Assn.—Copyright. London. December 16. Wheat cargoes to-daj- were firm and parcels were dearer. Futures.—London : January, 44/GJ a quarter; March, 44/41. Liverpool: December, 7/8-J a cental ; March, 7/7 1-8 ; May, 7/7 1-8; July, 7/7 1-8. The spot trade is quiet. Australian, ex ship, 40/-. Flour is dearer. Australian, ex store, 30/- to 31/6. Chicago wheat futures: December, 'J 1 3-8 cents a bushel; May, 91 1-8 cents: July, 85J cents.