FINANCE & COMMERCE

Dominion, Volume 37, Issue 2, 28 September 1943, Page 6

FINANCE & COMMERCE

Canterbury Farmers’ Co-of Association The'-direetors o£ the Canterbury I’uriiiers’ Co-operative Association (South Canterbury) in their report for the year ended July 31, 1(143, stated that depreciation on buildings, fixtures and plant had been provided as usual, amounting to £ub.'B. The result o£ the year’s operations disclosed a net profit earned o£ i,01,;>92/10/1, to which had to be added balance brought forward from last year, £5745/12/7, making a total of £37,338/8/2. The directors had declared a 5 per eent. dividend on ail classes of preference. shares amounting to £469«/7/G, which left an amount of £32,64k 0/8, from which the directors recommended the payment of a dividend on ordinary paid-up capital of 5 per cent., £2ioi/3/-, and transfer to reserve for income, social security and national security taxes £21,812/8/0, leaving a balance to be earned forward o£ £8042/9/2. Auckland Farmers’ Freezing Co. Difficulties experienced as a result of inability to secure anything like sufficient suitable labour at the various works was one of the principal worries during the vear. stated the chairman, Mr. W. E. Hale, at the annual meeting o£ the Auckland farmers’ Freezing Company. The directors and management, he said, greatly missed the experienced and loyal employees who were now in the armed forces, and looked forward to the time when they, would bo able to resume their previous; occupations. "As far as the coming season .is concerned,” said Mr. Hale, “I regret to say that our difficulties will be greatly accentuated by the later lambing season and the poor condition in which all cattle entered the spring after the bad autumn and hard winter. These factors will hare the effect of making greater numbers available at the height of the season, with a much reduced amount of labour to handle them. I wish to appeal to all farmers to give the company their fullest co-opera-l tion and consideration in order to help us through this difficult period.” Booth, Macdonald Profit The annual accounts of Booth, Macdonald and Co., Ltd., for the year ended June 30 show a net profit of £13,503, compared with £9076 last year, £3239 in 1941. After providing for taxation there is £6346 available. and the directors recommend a dividend of 3 per eent. on preference shares compared' with 21 per cent, last year. In--1941 the prolit’ was carried forward. In 1 each case it is struck after providing de-l benture interest. Gold Mining North Kalgurli (1912) Ltd. reports thatduring the period ended August 24. 5575! tons Tvere treated for a recovery of 1810 ounces. The Maori Gold return last week was 330 z. 9dwt. for 123 hours from 13,000 yards., Blackwater Mines Ltd. report for the. four weeks ended September 10 as follows:: Crushed, 2707 tons, yielding 1102 oz. of gold from all sources, the value of which when taking gold at 168/- a fine ounce was £10,013. Working expenses, not Including ordinary or v;ar duty, were £7218. Development expenditure was £425 and capl< tai expenditure £l9B. The Gillespie’s Beach wash-up last week, was 20oz. ISdwt. for 109 hours from 12,478 yards. Dow Jones Averages NEW YORK. September 25. Dow Jones averages (1926 equals 100): —i “0 Rail- 32 Shares’

■■ Dividends And Calls W. B. Carpenter—s p.c. ........ Sept. 29 Ziue Corp.—final, ord. and preu, 1/- a share: also int. pref. 2/a share Sept. oO Duulop Rubber—final 5 p.c. pref., 2} p.c. ord Sept. British Tobacco —int. 2 p.c...— Sept, od Kaiapoi Woolleu—s p.c. and 1 p.c. bonus, ord.-and pref. .. Sept. _ N.Z. Drug Co.—int., 34 p.c. .... Sept. 30 Beath anil Co.—final ord., 3 p.c. , pref. 21 p.c gept. Newton King—pref., 51-u p.c, . Sept. dJ Cox Bros.—final A. and B. pref., 34- p.c. and 3J p.c. Sept., off Milburn Lime —final, 2J p.c. .... Sept. N.Z. Newspapers.—int. Sd. share Oct. 1 Bartholomew Timber —final, 2} p.c. plus bonus 1 p.c. .... Oct. 1 Kelt and Textiles— half-year, first pref. 3 p.c.; final, ord. a p.c. Oct. 1 United Building (Christchurch)— int. 2* p.c Oct. 1 Bank A’sia—int. 5 p.c. ........ Oct. -1 Hume Pipe—3J p.c. pref., 4 p.c. . ord ...........i. Oct. 4 Woolworths (Syd.)—iut., 5 p.c. ord. Oct. Io Woolworths (Vic.) —iut. 34 p.e. pref. .................: Oct. 1-v Wairarapa Farmers’—pref. 3 p.c. Oct. * Woolworths (N.Z.) — half-year pref., 4) p.e. . Oct. Io Howard, Smith—int., qr„ pref., „ p.c Octi « Komata Reefs—Gd, a share .... Oct. IS Guarantee Corp.—lid. a share .. Oct. -J South Otago Freezing—ord. 5 p.c. Det. -> Wm. Cable—int. pref., 3j- P.c. .. Nov. 1 Electro Zinc—final, pref, and ord., o p.c Dec. 31 Record Diamond Sales Reports of record sales of diamonds, combined with Cape buying, recently resulted in an advance in diamond shares on the London Stock Exchange. Sales or diamonds, it is said, have exceeded £2 000,000, and mav have been nearer £3,000.000, at an all-round price of 74 per cent. Turnover at the sights is considered to have fulfilled Sir Ernest Oppenheimer’s prediction at the De beers meeting that sales completed and arranged for the current half-year would be nearly a s great as the total of last years sales or £10,500,000. „ , Assuming sales for the first liall-yeai .around £10.000,000, sales for the full year ar e nevertheless cautiously estimated at about £14,000,000. ~ A total of £14.000,000 for the full year would not be a record, but would, nevertheless, only have been once exceeded, namely, in 1919. With the assistance or the strong U.S. demand, it is thought the syndicate might have been able to se* l £20,000,000 worth this year. But the view is that the aim of the syndicate will be to spread out sales as far as it can, so as to avoid if possible a repetition of the experience of boom and slump that btought disaster after 1919.

1912 (high) roads. Industrials, sold. .... 29.28 119.71 —■• 1912 (low) . 23.31 92.92 sept. is ... 35.40 140.94 686,000 ■ Sept. 20 ... .35.43 141.75 1,098,000; Sept. 21 .... 35.35 141.49 743,000: 35.20 141.09 601.000 Sept. 23 ... 34.93 140.30 667.000 35.18 -141.08 331,000 Stock And Share Indices / LONDON, September 24. Govt. Home Indus - Gold-' mines 1942 (high) 114.4 64.6 118.0 15S.1 1942 (low) . 113.4 54.1 96.91 128.1 112 I 66.0 129.9 161.1 Sept. 16 ... 112.1 66.3 129.9 162.0 Sept. 20 ... 112.3 66.3 130.2 163.8 Sept. 21 ... 112.3 66.1 130.2 164.3 Sept. 22 ... 112.3 65.9 130.1 Ida. .i ■Sept. 23 ... 112.5 G5.S 130.1 101.6