FINANCE & COMMERCE

Dominion, Volume 36, Issue 271, 11 August 1943, Page 6

FINANCE & COMMERCE

WELLINGTON EXCHANGE Yesterday’s Quotations The latest buying aud selling quotations recorded yesterday on the Wellington Stock Exchange were as follows Buyers. belters.

Africa) 16 0 zx Ex dividend. Sales In New Zealand Dealings in stocks and shares recorded on New Zealand Stock Exchages yesterday were as follows, the number of shares in each lot being shown in the case of Wellington :—

WELLINGTON. No. of Sale price, shares. £ s. rt 200 'Bank of New Zealand .. *2 2 0 SO South British Ins. ..... *3 12 6 400 'Bond’s Hosiery ’1 18 « 300 United (Provisions *0 13 0 300 Nat. Bank of N.Z., ex div. 2 0 6 ■5O (Broken Hili' Pty 2 4 9 *Late sale Monday.

AUCKLAND. War Loan. 3 p.c., 1/8/51-54, £97/5/-; Inscr. Stock, St p.c., 05/9/57-00, £101: Bank N.Z., £2/2/-; Broken Hill Pty., £2 4/9; Felt and Textiles, £2/9/6: Auckland Gas (odd lot), 6/9: (Macky. Logan, £1 10/-; G. J. Coles, £3; W. R. Carpenter, £2; Woolworths (N.Z.), 15/11: Woolworths (Syd.), 17/10; Emperor, 14/-. CHRISTCHURCH. N.Z. Guarantee Corporation, 3/7: N.Z. Refrigerating (10/- paid), 12/-; Kaiapoi Woollen ' (7/- paid), 8/4; Milburn Lime, £l/16/-. DUNEDIN. New Zealand Refrigerating, cont., 12/1}; Woolworths (N.Z.), (2), 15/10; Standard Insurance, £3/15/3; Inscr. ■Stock, 4 p.c., 1946-49, £lO3. Unofficial list: Mackintosh. Caley, Phoenix, £1 paid, £l/3/-. Australian Foundation Trust The directors of the Australian Foundation Investment Trust have recommended a dividend of 4 per cent., subject to audit, payable on September 27. John McGrath, Ltd. John McGrath. Ltd., Sydney, reports net profit of £20,270 for the year ended June 30, compared with £21,4115 for 1941-42. Dividend is 9 per cent., Including bonus of half of one per cent., against OJ per cent, last vear, including bonus of 2* per cent. The amount is £20,250, ana carry forward is increased by £2O to £2737. Stocks are now confined to replacement parts tor servicing vehicles sold previously. Reserve has been increased to £lOO,OOO by £ll,BBO transferred from bad debts and taxation provisions. Ceiling Prices On Shares Stagnation of business on the Stock Ex change in Australia was attributed by Mr. S: Rieketson to the Government’s “ultimate ceiling” prices placed on shares. Addressing the National Reliance Investment meeting he said the basis selected reflected conditions in -September, 1941, but they were not nearly adequate to reflect today’s very greatly improved investment conditions. Such conditions were never static. “They may change generally for the better or the worse from time to time, while the public attitude toward a particular stock or group of stocks may vary still more greatly, so that for the Government arbitrarily to select prices as at a certain month in a certain year and use them as the limits beyond which prices may not rise a year or two later, appears to be a negation of common sense. Certainly it indicates an entire ignorance or wilful disregard of ail investment principles and experience.” Caro’s Bargain Stores The accounts of Caro's Great Bargain Stores (Hamilton) for the year ended May 31 show a profit of £6340, compared with £5511 in the previous year and £5086 la 1041. A dividend of 64 per cent., subject to security taxes (unchanged), is recommended on preference and ordinary shares. Standard Insurance Co. Dominion Special Service, . DUNEDIN, August 10. The directors of the Standard Insurance Company in their annual report state that the income for the year amounted to £233.548/2/11, and the expenditure to £198,533 5/11, leaving a balance of £40.007/17/-. to whieh has to lie added £*24,801/4/4 carried forward from last year. After making full provision for taxation, outstanding *osses, depreciation and provident fund, and placing £12,000 to reserve, the payment of a dividend of 1/3 a share for the half-year ended June 30 is recommended. N.Z. Insurance Co. AUCKLAND. August 19. A statement that a diminution in income was more likely than an increase in the near future was made by the chairman of the New Zealand Insurance Company. Mr. Charles I. Nathan, at the company’s annual meeting today. Mr. Nathan said that the company’s reentry into places from which the war had excluded It. should ultimately tend to replace income now received from the war risk and increased marine rates, and the exploration of new fields was kept well in view. Tn line with this policy operations had been expanded during the year in the Near East and opportunity taken to-enter business in Canada, which should provide a fair volume of income. The outlook today was much brighter than could have been expected a year ago, but the figures this vear must not. bo taken as a standard ’for the future. A pleasing feature was the improvement in revenue derived from investments and rents. Gold Mining Because of repairs there will be no washup at Slab Hut Creek Dredge till August

£ 6. d. £ s. d. 2J- p.c., 15/9/47 93 5 0 3 P.C., 1/8/51-54 97 0 0 3 p.c., 15/9/52-55 38 0 0 —- 31 p.C., 15/1/50-53 .... 33 10 0 — 31 p.c., 15/9/57-Gt) .... 100 10 0 War Loan, l/10/o3 .. — 94 5 0 Liberty Bonds, 15/9/40 0 19 0 — Bank A/asla 9 5 3 19 u E.S. and A. Bank ... 0 — Nat. Bank N.Z x2 9 0 —» a Bank New Zealand .. — Ditto, D. Mort — 1 12 0 Nat. Bank A/asia., £5 5 12 G — Equit. Bldgs., £1 ... 1 0 Goldsbrough Mort ... — 1 9 0 Newton King, pref. .. 0 19 G — N.Z. Guarantee 0 3 4 __ Loan and Merc 35 0 0 —— W.F.C.A., pref U 0 it —• Wgtn. Inv. T. & A. . xO 7 5 —— Wgtn. T. and Loan .. 3 7 U — Auckland Gas — 0 7 0 Wgtn. Gas, pref 1 2 (> —— New Zealand Ins. ... 4 1 4 — Queensland Ins 2 IX It —— Standard Ins 3 12 0 —— Canterbury Meat 13 10 0 — Gear Meat 1 1 11 1 3 N.Z. Refrig., 10/- .... — O 12 4 ■Wgtn. Meat Exp 0 10 0 0 15 O Huddart Parker 2 no 0 — Union Steam, pref. ... ■Westport Coal — 9 1 11 6 1 4 — Bruce Woollen, ord. .. —- 1 10 Ditto, pref. .; — 1 7 o Felt and Textiles .. • 2 S 9 Oamaru Woollen .... 1 4 9 — Prestige, pref 1 4 O —. Tirnaru Woollen 1 0 .» 1 0 9 llotoiti Timber 0 '5 11 —- Kauri Timber 1 4 j) —— N.Z. Breweries 1 10 9 1 17 6 Dominion Breweries . Tooheye, Ltd Broken Hill —— 1 18 3 1 9 9 —— 2 4 2 5 3 Burns, Philp 2 17 0 — Colonial .Sugar 57 2 6 — Consol. Brick —— 0 9 3 Claude Neon (N.Z.) . 1 4 0 Cox Bros 0 0 3 —- D.I.C 0 17 —— Ditto, pref i 0 It — Gen. Industries 1 1 6 —— G. J. Coles Gridin & Sone, £1 ... x2 IS 0 — 1 0 u Ditto, 10/O It! ( 1 —-■ Hume Pipe 0 14 9 —— I.C.I., pref 4 5 •J —— J. J. Niven c0 15 It Macduffs. ord 0 10 y — Ditto, pref 1 3 3 — McKenzies 2 0 9 2 7 9 Macky Logan 1. 9 G -4— Metters (N.Z.) 0 10 9 — Morris, Hcdstrom ... 1 8 0 — M.K. Manufacturers . — 0 7 0 Nat. Electric J 7 9 — N.Z . Farm. Fert Sharland & Co., ord. 0 19 9 — I K It — Ditto, pref 1 9 0 —— Reid Ru'bber, ex rights — 1 7 (1 Ditto, rights 0 4 11 —- Taranaki Oil Fields . 0 3 0 0 4 1 United ‘Provisions ... —- 0 13 9 ■Wilson’s Cement .... — 0 13 G Woolworths. Ltd. ... 0 17 3 — Woolworths (N.Z.) ... O 15 S — Ngahere O 9 0 —— Barry town 0 9 9 — Kanleri - ■— 0 19 0 Arahnra, def 1 1 0 — Mt. Lyell 1 9 6 —— Mt. Morgan —— 0 10 3 North Broken Hill .. Woolworths Hold. (S. 2 6 6