FINANCE & COMMERCE

Dominion, Volume 36, Issue 310, 25 September 1943, Page 3

FINANCE & COMMERCE

STOCK EXCHANGE

Sales In New Zealand

Dealings in stocks and shares recorded on New Zealand stock exchanges yesterday were as follows, the number of shares in each lot being shown in the case or Wellington :- vBnuNGTOX> _ No. of . Salo Price.

AUCKIwVND. . Inscr. Stock, 3 per S CDt v,?^- 2/J Sioi’/’VG? 2/6; ditto, 4 per cent., IJ4o-4b, £lOl/-/b, ditto, 4 per cent., 1046-49, V('4 Waipa County, 4i per cent.. 1/-A>% 10/-; Bank of N.Z. (2), £2/1/9; N-Z. takers’ Co-op., A pref., • C --/ISA> . Auckland Farmers,• B pref., I+/-. irau era Finance, con., 5/1; damaru jyAio/f?.’ £l/6/6; P. and O. deferred, £2, *.l/19/6, Tooth and Co., £2/16/- : Aust Consol. Industries. £2/16/-; British Tobacco, — 7/6; Colonial Sugar (2), £57/15/- ; Broken Hill Ply.. £2/5/-; Farmers Fertilizer, £l/1/-; Taranaki Oil (2), lA>, Woolworths (N.Z.), 16/8; Bulolo, — 3/18/-. chbistchukch. N.Z. Farmers’ Co-op., first pref., £5; N. Insurance, £4/5/-; Kuiapof Woollen, 7/- paid, 8/1; N.Z. Breweries £l/16/9; Colonial Sugar (2), £57/L>/-; Bulolo, -3 IS/-. DUNEDIN. Inscr. Stock, 2J per cent., 1946, £97 15/-; ditto, 21 per cent., 1947, £97; P. and O. deferred, £2. Stock Exchange Closing The Wellington Stock Exchange will bo closed on 3lond<iy, Dominion Day. * Dividends Declared The directors of the N.Z. Guarantee Corporation, Ltd., will recommend payment of a dividend of lid. a share at the annual meeting on October 29. ■ Transfer books close at 5 p.m. on October 1. William Cable and Co., Ltd., advise that a dividend on preference, shares lor the half-year ending ’September .30 at the rate of 7 per cent, per annum will -be paid on November 1. Transfer books close on September 30. No deduction is to be made from the dividends for Social and National Security taxes, and the-payment of this tax by the company is tp apply to this distribution only, and is made without committul for'future dividend payments.The Electrolytic Zinc Co.. Ltd., lias a dividend of 5 per cent, for the balt-year ended June 30, making 9 per cen... an unchanged rate, for the year, on botn preference' and ordinary shares, payable on December 3. Transfer books will be closed October 7-9. Mataki Junction Gold Dredging The directors of Mataki Junction Gold Dredging propose that the 24,000 shares held in .Slab Hut Gold Dredging Company, Limited, be disposed of, and the company be liquidated and the available cash distributed. Because of a dividend of £3OO from the Slab Hut Company, a proht of £175 is shown for the year ended June 30, against a loss of £l9B for 1341-42. The profit, plus a surplus of £249 on the sale of 10,000 Slab Hut shares, reduces the debit balance to £43,685. N.Z. Forest Products Profit Dominion Special Service. AUCKLAND, September 22. The accounts-of New Zealand Forest Products, Limited, as at March 31, dealing with the first complete year of the company’s manufacturing operations, show that there resulted a profit of £26,356. In addition, interest and dividends on investment and sundry income totalled £16,080. From this sum of £42.436 has been _ deducted for forest maintenance £1u,044, land tax on forests £4069, administration and other expenses £8903, provision fol taxation £11,900, leaving a net profit of £3420. This the directors report has been more than absorbed by taxation levied for the year 1941-42, which they state should not have been levied as the company sustained a loss that year. The report states that plant, in operation in various manufacturing establishments has been satisfactory and considerable progress has been made. Goldfields Of. N.Z., Ltd.

In the results of the operations of dredges owned by Goldfields of New Zea land, Limited, published ou Wednesday, the latest figures were inadvertently made to appear as last year’s returns. The correct returns for the year ended, March 31 last, with those for th e previous year in parentheses, are:— Arahura.—Profit, £85,752 (£105,200); depletion and depreciation, £lO,OOO (£10,000); renewal reserve, £lO,OOO (£10,000); tax provision, £15,500 (£17,500); dividend a share, 3/6 (4/-); amount, £52,500 (£60,090); forward. £21,353 (£23,601): cubic yards, 2,416,000 (3,186,000); smelted gold, oz. 16,422 (18,871); per cubic yard, gr., 2.26 (2.54); cost cubic yard, 4.8 d. (3.91 d. Barrytown.—Profit, £12,192 (£17,193); depletion and depreciation, £20,000 (£20,000); forward, £8704'(£16,512); cubic yards, 2,123,000 (2,226,000); smelted gold, ! oz., 6086 (6328); per cubic yard, gr., 1.39 (1.47): cost cubic yard, 4.10 d. (3.65 d. Kanieri.—Profit, £20,667 (£51,625); renewal reserve, £7500 (nil); tax provision, £3200 (£13,500); dividend a share, 1/(3/-); amount, £15,000 (£45,000); forward, £3232 '(£8265); cubic yards, 2,168.000 (2,529,000); smelted gold, oz.. 9943 (13,101); per cubic yard, gr., 2.37 (2.92); cost cubic yard, 6.55 d. (5.43 d. • Bank Of England Return. .'(By Telegraph.—Press Assn.—Copyright.) LONDON, September 23. The Bank of England return for the week ended September 22 j 6 as follows;—

Government Stock Prices

(By Telegraph.—Press Assn.—Copyright.)

LONDON, 'September .23. Government stocks are firm and slightly more active. The following fable gives the mean Stock Exchange quotations for consols and colonial inscribed stocks, compared with those of September 16: — Price. Variation

£1000 Inscr. Stock. 3 p.c., 15/12/ s. < J. £14 .Liberty Bonds •••••• 19 3 277 .Bank of N.Z., D Mort. .. 12 146 N.Z. Breweries • 300 Aust. Consol. Industries . 2 16 16 0 0 2 16 0 3<H) Tooth and 'Co. . 500 Taranaki Oil Fields . 0 -1 G »Late sale Thursday.

Note issue: Govt, debt 11,000,000 lu eireu- Other Govt. lation 980.700,000 securities 988,300,000 In bank- Other sees. 700,000 ing dept. 19,500,000 — : *.£1,000,000,000 £1,000,200,000 Gold coin 200,000 £1,000,200,000 •Amount of fiduciary issue. Capital 14,-500,000 Govt. sec. Best 3,500,000 Discts., ad203,800,000 Deposits: vances 900,000 I J ubiie '7,200,000 Other secs. Bankers 164,400,000 Notes and . 16,800,000 Other ace. 53,100,000 coin 21,200,000 £242,700,000 , £242,700.000 ■Proportion of reserve to liabilities, 9.46 per cent., compared with 9.01 per cent. last week. The principal items o£ tuc above return compare as follows with those of last week:— . Sept. 1-5. Sept. 22. Deposits— £ <L Public 9.000,000 7,200,000 Bankers 154,200,000 101.400,000 Other accounts . 55,000,000 53,100,000 £218,200,000 4 2224,700,000 Securities — 203,800,000 Government .. 105,500,000 Discts., advances 2,400,000 900,000 Other securities . 17,500,000 16,800,000 ■Reserve 20,800,000. 21,200,000 Note circulation 981,100,000 980,700,000

£ s. d. £ s. d. Consol.-', 21 p.c. .. 78 15 0 0 .5 Of Fund. Loan, 1910-90 111 15 0 same War Loan. 3X, 1952 ilOl 10 0 o 15 Or Cour. Loan. 31, 1961 404 7 (J o io or Victory Bonds. -1 p.c. >113 0 0 o 5 or C* went th, 4, 1045-75 •102 2 o 2 fir C’wealth. 4. 1943-59 >100. .0 0 0 5 0* Cwealth, 3'1, 1918-53 109 16 .1 0 1 3jC* weal th, oi, 19515-01. 96 • 6 •• o 1 3’r C" wealth. 3. 1956-58 93 10 0 0 5 0’ N.S.W.. 31. mo-jo 99 12 4; same Victoria, 3. 1929-49 97 12 It same Victoria. 5. 1945-75 101. 12 6 same Q’laiid, 3, 1942-47 .. 98 0 0 same S. Aust., 3, l!»l(i (not.) S3 0 0 same S. Aust., 5, 1945-57 101 15 0 same W. Aust., 4, 1942-62 100 10 0 0 1 3* ’J’asni., 4, 1942-62 .. 100 15 0 0 5 0* N.Z., 41. 1948-55 .. 103 11 *> 0 1 3t N Z„ 3, 1945 ZI9 >15 0 0 6 3i ♦Lower. tHigher.