STOCKS AND SHARES

Dominion, Volume 33, Issue 282, 23 August 1940, Page 12

STOCKS AND SHARES

Yesterday’s Quotations WELLINGTON EXCHANGE The latest buying anil selling quotations recorded yesterday on the Wellington Stock Exchange were as follows: —

TAUPO TOTARA TIMBER CO. Heavy Taxation Of Profits At the annual meeting of the Taupo Totara Timber Co., Limited, on Wednesday, moving the .adoption ut the balance-sheet, the chairman, Mr. J. LI. '■ Strang, said the net profit ol £lo,—< lor the rear ended April 30 was an increase of £1702 over the previous year, taxation had again increased and was now approximately 12/4:| m the pound, . 62 per cent, of the company s profits. Provision for taxes amounted to tloiv, and out of this heavy taxation a comparatively small proportion was tor w.n purposes. . .. On the liabilities side of the balancesheet, the mortgage on the land held Lj tiie subsidiary companies bad been r '" duced by £9550 to £10,4u0. Creditors at £6728 showed a small increase. Ihe investment reserve had been increased by £1542/10/-, being discount on prepayment of the subsidiary companies mortgage guaranteed by them. . . On the asset side, depreciation al £1.,.885 was slightly lower. All plant and machinery had been kept in good repair. Capital expenditure at £2022 was accounted for by cottages, installation of electric light in the No. 3 mill, and motorvehicles. Fixed asset# at £204,;>40 showed a reduction of £17,231. Stocks of timber and materials had decreased by ■£1864. Sundry debtors had decreased by £1429, which in view of the increased sales wan satisfactory. Liquid investments and cash less creditors at £46.01b. showed an increase of £22.688. Since the close of the financial year, continued Mr. Strang, the company had repaid part, of the preference share capital. In addition, as already stated, it had prepaid £9950 of the mortgage on the Tauri Tutukan bush. Floating assets nt £109,690 showed an increase of £20,077. On behalf of the board, be acknowledged the loyal and efficient services of the staff during the year. Mr. F. W. Furkert seconded the adoption of the balance-sheet. He said that higher timber prices were tending ,to stifle sales, and mentioned the question of road versus rail transport. The motion was carried. Messrs. L. It. Pulliam and A. G. Strang were re-elected to the board on the motion of Mr. 11. G. Didsbury. seconded by Mr. M. Sullivan. The directors’ fees were fixed at £5OO. Mr. 11, wju. reappointed auditor.

N.Z. GOVT. LOANS. Buyers. ti s. <1. Sellers. £ s. d. p.e. Stock, 1W 1939-41 W 0 34 P.c. ditto, 15/1/ 1953-57 7 b -- -- «} p.e. ditto, 15/11/ 1938-41 I'M 0 0 “— 4 p.e. ditto, 15/3/194043 101 12 6 —• Ditto, 15/2/1943-46 . 102 0 0 Ditto 15/4/1946-49 . 104 10 0 — Ditto, 15/5/1949-52 . 104 1.) 0 —— Ditto, 15/6/1952-55 . 105 2.6 —— Ditto, 31/5/1954-58 . 105 7 '• — B p.c. Bonds. 15/7/ 1939-41 99 0 0 — — SI p.c. ditto, 15/1/ 10J3-57 99 7 0 ■ ■ — 4 p.e. ditto, 15/6/195255 MJ 2 6 — Si p.c. State Advances, i/G/1944 97 15 0 AUSTRALIAN STOCKS Aust. Consol. Stock, 4 p.c., 15/11/41 101 0 0 102 10 0 OTHER DEBENTURES Amid. Brick. \\ gtu. r 6 P.c.. 31/3/44 .... 101 0 0 — Auckland Gas, perp. _ deb. stock l"0 *’ 11 — BANKS. Australasia 8 5 <> — Comrcl. of Aust., ord. xO 13 8 Ditto, pref xS ,0 0 —* New South Wales ... x25 lu 0 2 2 j Ditto. D. long term 16 6 -— FINANCIAL. Dalgety and Co 5 In 0 •—* Equitable Bdg. Co., 5 p.c. perp. dob. stk. 0 lo ’’ —* Goldsbrough, Hurt and N.Z. Guarantee Corp. 0 3 2 0 3 8 Wgtn. Invest., T. & A. --- 0 9 6 Wgtn. Trust, Loan .. 4 10 0 Wright, Stephenson .. — el 1 0 GAS. Auckland, 10/- fully paid 0 7 11 •— —— Napier — Wellington, ord 1-10 « 8 10 0 Ditto, pref 1 1 y INSURANCE. National of N.Z 017 9 — New Zealand 2 IV 0 — Standard x2 16 6 — meat preserving, Canterbury, pref 6 5 0 8 6 0 Gear Meat 0 14 u N.Z. Refrigerating .. 0 19 3 —— Ditto, 10/- paid .... 0 8 6 — TRANSPORT. Union Steam, pref. ... 15 8 — WOOLLEN. Bond's Hosiery Mills 16 0 Felt and Textiles, ord. 1 1u 0 —— Kalapol 0 J* - Mosgiel 10 0 0 Wellington, ord x7 2 6 Ditto, pref x7 0 0 COA L. Westport-Stockton U 2 1 TIMBER. Leyland-O'Brien ... 012 9 Taupo Totara. ord. .. xo 5 0 Ditto, pref 1’ ■’ «• breweries. 3 u 0 N.Z. Breweries 1 13 10 — M t SC ELLA NEO C S. British Tobacco , — , 2 7 0 Broken Hill Pty 2 3 0 Claude Neon Lights (N Z ) 0 18 0 Colonial Sugar M 0 5tJ 0 0 Consol. Brick & Pipe 0 ' Dental & Medical Sup- n Ditto, pref 1 ; . i! — q t cole, 3 1 9 — Howard Smith, ord. 0 19 6 — ' Ditto, pref 0 15 0 — I) 4 3 Ditto, pref. — National Electric .... 0 17 0 0 4 3 0 18 0 N.Z. Drug, cum rights 4 1 0 — N Z Farmers’ Fertilizer O 19 6 R. & E. Tingey, pref. 1 0 0 Taranaki Oilfields ... 0 6 3 Taranaki Uli Develop0 3 9 United Provisions ... 0 7 9 Victoria Laundry .... I 0 G Ditto, contrib . 0 lu 6 Wilsons I N.Z.) Cement 0 18 - — Win. Cable, pref. ... t - | Woolworths Ltd., ord. I 0 16 ,* Woolworths (N.Z.), ord. 9 Io *' Beath and Co Mason Struthers . • ■ ■ — MINING. Alexander, 15/- paid -- 0 5 0 Big iviver . .. n ~ Australian Mining. Broken Hill South ... 16 6 Mount Lyell 1 1 0 Mount Morgan j c 0 Ditto, pref. „ North Broken Hill .. 1 16 0 OVERSEAS LISTINGS. Woolworths Holdings (South Africa) ... . . Cum dividend, x Lx uivttteum Unofficial List Buyers. .Sellers. £ s. d. £ s. d. Colonial Motor Co. .. 77 1 10 0 Metiers (N.Z.) Ltd. .. n « r T Niven '* ° r ' — »• & E. Tingey Ltd.. q fi Selfridges (N.Z.), 10/u S 6 paid _ - n Scottllar and Co 0 ‘ 0 Todd Motor Lorpn., 10 6 W, D. Woods Ltd — 0 12 0