STOCKS AND SHARES

Dominion, Volume 34, Issue 215, 7 June 1941, Page 13

STOCKS AND SHARES

Yesterday’s Quotations

WELLINGTON EXCHANGE The latest buying' and selling quotations 1 recorded yesterday ou the Welliugtou • Stock Exchange were as follows:— f N.Z. GOVERNMENT LOANS.

N.Z. BREWERIES, LTD Reduction In Net Profit The directors of New Zealand Breweries, Limited, in their report tor the 1months ended March 31, state that after writing off depreciation on buildings, plant, machinery, rolling stock, etc., paying beer duty, and making provision tor land tax and for income and social and national security taxes on the year s profits, there remains a net profit or £120,338/16/10 to which' is to be added the amount brought forward from last year, £25,228/16/4, making £140,5b7 'l3/2. From this amount must be deducted the sum of £57,237/6/1, being interim dividend paid for . the period ended September 30, 1940, leaving a sura of £88.330/7/1 to be dealt with. The directors recommend that this amount shall be appropriated as follows: Payment of dividend of 4 per cent, for the half-year, making 71 per cent, for the year, £65,-115/3/2; to be carried forward. £22,915/3/11. , , „ Dividends paid on the company s holding of shares in subsidiary companies have been taken to credit in the profit and loss account. Consequent upon increases in taxation made after the close of last year’s accounts, the directors transferred £lO,OOO from taxation reserve toward meeting this additional liability. The retiring directors, Messrs. E. R. Davis, H. T. Speight and D. E. IVanklyn, offer themselves for re-election. Gross profits from manufacturing and trading (after paying beer duty) and receipts from interest, rents, etc., are shown at £718.910. Net profit last year was shown at £136,396, and for 1939 at £141,446, the dividend in both cases being. Sj per cent. WILSONS CEMENT Lower Profit Shown A reduction in net profit of £10,931 is shown in the accounts of Wilsons (N.Z.) Portland Cement. Limited for the year ended March 31. Net earnings, after allowing £54.957 for taxation provision, were £29.528, and the directors .explain that this large reduction is due to the company’s selling prices remaining stationary while the cost of production mounted heavily, bags alone accounting for an increase in cost of £17,450 The industry is making application to the Price Tribunal for increases iu selling rates. As already announced, the dividend is being held at 71 per cent. The maintenance of this rate, the directors state, is dependent upon prices being increased commensurate with increased costs. Results for three years are:— 1939. 1910. 1941. £ £ £ Bit. forward .. 37.683 49,234 53,693 Net profit .... 56,551 49,459 29,528 £94,234 £98,693 £83,221 Dividend—--71 p.c. p.a. . 45,000 45,000 15,000 Car. forward . £49,234 £53,693 £38,221 The balance-sheet total of £932,612 shows an increase of £98,229. Stock and other floating asset reserves, as well as marine insurance account, have been transferred to general reserve, thus consolidating all reserves in one account, except plant depreciation reserve account, which was opened in connexion with adjustment of plant accounts to comply with the requirements of the Commissioner of Taxes. The company’s quota of War Loan amounted to £47,920. NEW HIGiTrECORD British Note Circulation (By Telegraph.—Press Assn.—Copy right.) LONDON, June 5. The note circulation, amounting to £635,432,000, is a record. The City Editor of “The Tinies” says that the continuing rise is a symptom which emphasizes the desirability of action to avoid a progressive increase in industrial costs. National Dairy Association The report of the directors of the National Dairy Association of New Zealand, Limited, states that after providing for all expenses of management, also depreciation £2814/7/4, superannuation subsidy £BOO/19/11, mortgage redemption, Wellington and Auckland premises £725/19/-, profit and loss account shows a credit balance of £1644/9/9. Provision has been made for the sum of £l5OO to meet taxation, leaving a credit balance of £423/4/2 in appropriation account. The amount allocated during the year from trading account to rebates purchases account shows a credit of £8639/9/9, and the executive has decided to declare a rebate to contributing shareholders of 3J per cent, on purchases of dairy factory requisites and machinery, and 1 per cent, on merchandise, which absorbs' this amount. Gold Mining Returns The Grey River Dredging Co. Ltd. reports a return for the week ended June 4 of 171 J ounces from 79,852 cubic yards in 106 hours. The total return for the month of May was 705 ounces from 391,922 cubic yards worked in 528 hours(By Telegraph—Press Association.) CHRISTCHURCH, June 6. The Austral-New Zealand return totalled 519 ounces for 14 days to midnight on May 31. Mount Morgan, Limited Mount Morgan Ltd. reports to the Stock Exchange Association an estimated working surplus for the four weeks ended May 28 of £6032.

Buyers. Sellers. £ s. d. £ S. d. 31 p>e. Stocks, 15/1/ 1853-57 101 7 6 — 4 p.e. ditto, 15/3/1940-43 . 101 5 0 - Ditto, 15/2/1943-46 . — 103 10 0 Ditto, 15/4/1946-49 . 103 5 0 103 15 0 Ditto, 15/5/1949-52 . 190 10 0 — Ditto, 15/6/1952-uo . 10o 10 0 — 31 p.e. Bonds, lo/l/ 1953-57 101 5 0 — 4 p.e. ditto, 15/4/194649 101 5 0 4 p.e. Rural Bonds, 15/9/1947 103 7 6 — 3S p.e. State Advances, 15 0 War'Loan, 1/10/53 ... 82 15 0 LOCAL BODIES' DEBENTURES. Wanganui Har. Bd., 4} 103 7 6 BANKS. 7 6 — National of N.Z 1 12 9 1 14 o New South Wales ... — x28 0 0 New Zealand xl 16 2 ■ ■ 6 14 0 FINANCIAL. Equitable Bdg. Co. ... 0 7 6 General Finance — 0 16 0 National Mortgage, A — cl 14 6 N.Z. Guarantee Corp. . — 0 2 9 N.Z. Loan and Merc., 10 0 —— Wairarapa Farmers, pre£ 9 Wgtn. Invest., T. & A. 4 10 0 9 6 Wgtn. Trust, Loan .. — 4 10 0 GAS. Auckland, 10/- fully paid 0 5 9 — INSURANCE. National of N.Z 0 .18 4 New Zealand — 3 2 6 South British - 11 9 2 12 f i 19 9 .MEAT PRESERVING. 0 13 3 N.Z. Refrigerating ... . 0 16 9 — Ditto, 10/- paid .... 0 7 0 —, TRANSPORT. Huddart, Parker, ord. — 2 7 0 Union Steam, pref. ... 1 (J 0 — P. and O. defd. stock 1. 6 0 — WOOLLEN Bond’s Hosiery Mills 1 5 0 — Felt and Textiles, ord. 1 IS 6 Kaiapoi 9 15 0 — 19 3 Prestige, N.Z., pref. . 0 19 11 - . - Ola 0 Wellington, pref 0 15 0 — COAL. 0 17 0 - 13 0 Westfeort-Stockton — 0 2 8 TIMBER. 1 2 6 Leyland-O’Brien .... 0 14 9 —— 0 10 Taringamutn 0 13 8 — Taupo Totara, pref. .. 0 11 3 — BREWERIES. Carlton •-> 1 6 —— Dominion 1 S 6 N.Z. Breweries •••••• xl 11 0 1 12 9 Tooth and Co. ....... c2 10 0 __ 8 3 — Rwnn 1. 3 0 — MISCELLANEOUS. Anthony Hordern ... — 0 14 0 Aust. Consol. Industries v 2 2 6 British Tobacco .... — x2 7 0 Diftn pref .— 1 11 G Broken’ Hill Pty 2 2 0 2 2 6 Ditto new, fully pd. —— 2 2 0 C. M Banks, pref. ... —— 9 11 0 Colonial Sugar 52 12 6 — Consol. Brick & Pipe 0 6 2 —— D I C ord 0 13 0 ■ ■ <1. Electrolytic Zinc, ord. 2 14 0 — 16 b — Farmers’ r Trading .. 1 0 0 10 6 General Industries ... 0 10 9 a .T Coles 3 1 0 ti 2 0 Henry Jones Co-op. . 2 6 6 — 12 6 — I.C.I. and N.Z.. 3 6 1 5 0 - u 10 0 Ditt'o pref. ....... 0 19 3 C2 3 0 kloturoa Oil, pref. ... — 0 4 9 N.Z. Drug, 20/- paid 2 9 0 —•- N.Z. Paper Mills 1 9 6 — R. & E. Tingey, prel. 1 0 o Selfridges (A/asia.) . — 10 0 Sharland and Co., ord. 0 17 6 — Ditto, nref 0 17 9 ■ ■ Taranaki Oilfields .... 0 3 8 — Taranaki Oil Develop- —— Wilsons (N.Z.) Cement — 0 19 6 Woolworths Ltd., ord. 0 15 9 0 16 0 Woolworths (N.Z.), ord. cO 13 0 —— Woolworths Properties, prefd. ord cl 4 6 — MINING. 7 0 __ Waibi Investments .. 0 2 11 — Australian Mining. Broken Hill South ... xl 2 7 — 10 0 —,. Mount Morgan 0 8 9 0 9 3 ■Wellington Alluvials . 0 3 6 — OVERSEAS LISTINGS. Woolworths Holdings (South Africa) ... — 0 15 6 c Cum dividend, x Ex dividend. Unofficial List Buyers. Sellers. £ s. d. £ s. d. Assoc. Motorists’ Petrol, prof. 1 3 6 ... Colonial Motor Co. ... 1 5 0 — Dominion Life Assurance 0 4 0 Golden Bay Cement .. — 0 19 9 J. J. Niven and Co. .. 0 8 4 0 8 8 Keystone Investments — 0 5 0 Pacific Forests ...... 0 4 0 — National Tobacco .... 1 10 0 1 13 0