DEALINGS ON ’CHANGE

Dominion, Volume 32, Issue 104, 26 January 1939, Page 14

DEALINGS ON ’CHANGE

Yesterday’s Business RETURN ON INVESTMENTS Sales recorded on Dominion stock ex changes yesterday are shown In the fol lowing list. In the second column is g yen 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 oihside New Zealand, the exchange rates have not been taken Into consideration. Ihe return of 4 per cent. Government loans in eludes redemption j

WELLINGTON TRUST, LOAN CO.

Increased Profit And Dividend

The directors of the Wellington Loan and Investment Co., Ltd., in thin report to be presented at the'sixty-sixtn, annual meeting on February 8, state that the sum to the credit ot the pioht and loss appropriation account on the year’s working, together with the amount if £5251/4/5 brought forward from the previous year, amounts to » from which £3125 has been paid as an interim dividend at the rate of Ll’®^ ceu " for the half-year ended June 30, The special reserve account ot Ib-jOO was drawn on for £693/16/9 to cover adjustments' made by the Government commissions. The sum of £693/16/J has been transferred to the account to leave it at £6500 which the board considers should be quite sufficient to meet any unexpected claims for concessions that may arise in the near future, more especially as the Adjustment Commission have now completed their tasks. The sura ot £llp 12/9 has Been written off the cost ot the business premises for depreciation. The directors recommend that the sum of £lOOO 'be added to the reserve fund from the profits, making the latter £86,000. That a further dividend be declared on the.paid-up capital at the rate of 3i per cent, for the half-year ended December 31, amounting to £4375 (making 6 per cent, for the year), aij,d that the balance, £4999/12/6, be carried forward. ■ The retiring directors, Messrs, K. AA. Gibbs and R. A. Holmes, offer themselves for re-election. Revenue of £21,856 for the year IJ3B compares with £21,339 for 1937, and £23,108 for 1936. Net profit_for 1938 was £8942, compared with £7414 for 1937 and £8499 for 1936. The dividend .of 6 per cent, for 1938 compares with 5| per cent, for the two preceding years. The balance-sheet is as follows:— Capital and liabilities: Nominal capital, 30,000 shares of £lO each, £300,000: subscribed capital, 24,759 shares of £lO each, £247,500; paid-up capital, 24,500 shares at £5, paid, £122.500, and 250 shares of £lO, paid, £2500, £125,000 Deposits, interest, and investors, £213,744/6/10; amounts due by company, £344/9/-; income tax payable February, 1939. "£2916; bank balance, £4217/5/9; reserve fund, £86,000; profit and loss appropriation, £9374/12/6; total, £441,596 14/1. i A contingent liability is income tax payable February, 1910. Assets —Fixed assets : Business premises (at cost, less depreciation), £10,497 9/-. Floating assets: Mortgages, £383.820 7/-: interest, etc. (current), £3202/8/3. Less special reserve account, £6500; £380,522/15/3. Freehold property, £7243/16/4; New Zealand Government inscribed stqck, 1943 (face value, £30,100) ; New Zealand Government inscribed stock, 1952 (face value, £15,100), £43,332/13/6. Total. £441,596/14/1.

CHRISTCHURCH GAS CO. Increase In Net Profit The directors of the Christchurch Gns Company report for the year ended December 31, 11)38, payment of a dividend of 4 per cent., which, witli the interim dividend of 3 per cent, already paid, will absorb £25.249/17/7, carry £3277/1/9 to provision for taxes, and carry forward a balance of £4738/7/10. Provision has been made tor depreciation on the scale allowed by the Income Tax Department, and the prolit and hiss account shows a balance of £33,26i>/7/2. With the amount of £3277/1/0 transferred from the profit and loss appropriation account and £2075 charged to revenue account, the provision for taxes hart been increased by £5352/1/0 and now stands at £10.400. The dividend of 7 per cent, for the year is unchanged. Net. profit at £33.205 compares* witfi £27,i So for 103< and ,£23,124 for 1036. TRUSTEES, EXECUTORS CO. Interim Dividend Unchanged The Trustees, Executors and Agency Company, Ltd. has advised the Stock Exchange Association that the directors have declared an interim dividend for the half-year ended January 31, at file unchanged rate of 8 per cent, per annum payable on February 6, in connexion with which the transfer books will be closed from January 23 till February 6.

WELLINGTON. , Sale price. £ s. d. Yield p.c. on investment. £ s. d. laser. Stock, 4 p-c., *99 I'/A/nO-na 0 0 4 1 7 Jd/V/O- ou Govt. Bonds, 4 p.c., Io/ 6/52-55 National Bank of N.Z. ‘99 0 0 0 so 1 6 17 7 0 12 0 4 N.Z. Refrig., 10/- paid *0 7 9 1 11 Dominion Brewcries . ♦1 12 0 6 o 0 N.Z. Breweries a2 1 3 4 T Coins (2) 4 1 71 4 (J 0 3 6 National Electric .... u Jo ♦Late sale Tuesday 8 i u Reported after last call. IS s Dividend paid m sterling. AUCKIat LND c* d. £ s. d. Comm. Bank of Sydney 21 0 0 4 3 4 National Bank of N.Z. -> 6 3 so 8 Bank of N.S.W Bank of N.Z. (3) .... 31. 1 0 19 0 3 3 11 O 1 10 N.Z. Insurance 14 0 3 0 19 0 0 Westport - Stockton, 0 7 4 8 3 7 Ditto 0 7 3 8 1 9 N.Z. Breweries Woolworths (N.Z.) .. 6 0 18 9 0 4 4 3 8 10 Overseas list: Woolworths Holdings (South Africa) .. s Dividend paid 0 in 15 0 3 sterling. 6 8 CHRISTCHURCH £ s. d. £ s. d. Govt. Bonds, 4 p.c., ,j 15/4/46-49 Ditto, 4 p.c., 15/6/52()0 99 0 0 4 1 7 of Sydney 21 0 0 4 3 4 Nat. Bank A/asia, £■> paid ••••• 6 17 0 4 7 7 N.Z. Farmers’, Co-op., 4) p.c., 1955 N.Z Breweries 87 10 1 0 0 4 14 7 11 47 10 0 3 6 6 13 13 Dunlop Perdriau .... 1 0 11 10 Electro Zinc, pref. .. National Electric (2) 0 10 13 0 10 6 7 0 4 0 6 0 0 bA Unofficial list:— Blackball Creek, contr. 0 1 64 - DUNEDIN. p s. d. £ s. d. Rural Bonds, 4 p.c., 1=1/9/47 98 10 0 4 6 0 Dunedin Drainage, 4} p.c., 1947-50 .... 101 10 0 — Milburn Lime Unofficial list: A. & T. Burt, pref. . ♦1 14 6 1 11 ‘Late sale Tuesday.