FINANCE & COMMERCE

Dominion, Volume 35, Issue 190, 11 May 1942, Page 7

FINANCE & COMMERCE

Bank Of England Return LONDON, May 7. The Bank of England return for the week ending May 6 is as follows: — Issue Department.

(By Telegraph.—Press tssn. —Copyright.) LONDON, May 7. Tbe following table gives the mean Stock Exchange quotations for consols, and colonial inscribed stocks, compared with those of April 30:— Price. Variation.

Dividends Declared Mount Morgan Ltd. lias declared a 17th interim dividend of 4d. a share on ordinary shares, in Australian currency, payable in Sydney on June 22. Transfer books will be closed from May 23 to May 30, both days inclusive.

The directors of Donaghy’s Rope and Twine Co.. Ltd-, Dunedin, have decided at the annual meeting on Slay 25, to recommend a final dividend for the year ended March 31, 1942, of 1/3 a share on the. 86,009 £1 old issue shares and 6d. a share on the 39,000 £1 new issue shares. This makes a total dividend for the year of 2/on the old issue shares, and the payment on the new issue shares is in accordance with the terms of the issue. Transfer books will be closed from May 20 to May 27, both days inclusive. Bycrofts Record Profits The accounts of Bycroft, Limited. Auckland, for the year ended March 31, show an increased net profit of £13.878, compared with £12,087 in the previous year, and £11,734 in 1940. Gross profit at £132,856 is the..largest in the history of the company, showing an increase of £56,637. Before the net profit was struck provision was made for depreciation on buildings 'and plant aud also for income tax, social and national security taxes and bad debts. The final dividend recommended, 4 per cent., making 8 per cent, for the year, will absorb £6OOO, and £6753 is to be carried forward. In their report the directors state that the biscuit factory has been engaged in producing large quantities of service bread for Army requirements, which has resulted in a large increase in turnover and has also increased expenses. Gold Mining The Snowy River dredge returned 113 ounces for 102 hours from 14,000 yards. The Maori Gold dredge is undergoing repairs aud it is expected that operations will be resumed on May 16.

Stock And Share Indices

(By Telegraph.—Press 4san. —Copyright.)

LONDON, May 0. ‘'Financial Tinies” stock and share indices. with previous quotations, are (October 15, 1926. equals 1000): —

£ £ Note issue: Govt, dept 11,000,000 In circu- Other Govt. latlon 776,900,000 securities 817,200,000 In bank- Other secing dept. 53,300,000 urities 1,800,000 Silver coin — * £830,000,000 Gold coin & bullion 200,000 £830,200,000 , £830,200,000 ♦Amount of fiduciary issue. ' 0 Banking: Department. £ £ Capital 14,560,000 GovtsecuRest 3,200,000 rities 117,400,000 Deposits: Disets., adPublie 16,800,000 vances 7,500,000 Bankers 118,500,000 Other se-Other-acs. 49,600,000 curlties 23,600,000 Notes and coin 54,100,000 £202,600,000 £ 202,600,000 Proportion of reserves to liabilities, 29.26 per* cent., compared with 31.79 per cent. The principal items of the above return compare as follows with those of last week:— Apr. 29. May 6. Deposits— £ £ Public 14,000,000 16,800,000 Bankers 122,600,000 118,500,000 Other accounts .. 51,400,000 49,600,000 £188,000,000 £184,900,000 Securities — Government .... 111,200,000 117,400,000 Discts., advances 7,500,000 7,500,000 Other securities 27,100.000 23,600,000 Reserve 59,800,000 54,100,000 Note circulation . 771,100,000 776,900,000 Gold coin & bullion 200,000 200,000 Government Stock Prices

’Xs. d. £ s. d. Consols. 2J p.c 82 17 6 0 2 Gt Fund. Loan, 1060-00 114 7 6 0 5 Of War Loan, 31, 1052 . 104 10 0 fame Conv. Loan, 31, 1961 . 106 6 same Victory Bonds, 4 p.c. 113 7 6 0 6 3* C’wealth, 4, 1045-75 .. 101 2 6 0 2 fit C’wealtli, 4, 1943-4S .. .')$> o 6 0 2 6f C’wealth, 3j, 1948-53 . 95 0 0 same C’wealtli, 3j. 11156-61 . .88 0 0 same / C’wealth, 3, 1055-58 .. 0 0 0 2 6* X.S.W., 31, 1030-50 .. 93 0 0 same Victoria, 3, 1929-40 .. 02 0 0 same Victoria, 5. 1945-75 .. 101 Q 6 0 2 Gt Q’land, 3, 1924-47 .... 93 6 0 same S. AllSt., 3,- 1916 (opt. 70 0 0 same S. Aust., 5, 1945-57 .. 101 0 0 same W. Aust., 4, 1942-62 .. S‘S 0 0 same Tasm.. 4, 1940-50 ... 08 0 0 0 5 0* N.Z., 44, 1048-58 ... 98 <> 6 0 13* N.Z., 3 1045 93 11 3 0 7 Gf ■fHigher. ‘Lower.

Govt, see’s. Home rails. Industrials, Gold mines. 1041 (high) . 114.6 51.3 105.9 1S3.3 15)41 (low) . 112.0 11.5 83.0 166.4 May . 113.6 97.7 151.0 .May C , 113.5 57.1 97.8 151.7 May 7 .... . 113.5 57.1 97.9 152.1 May 8 ... . 113.7 57.1 98.0 151.9