FINANCE & COMMERCE

Dominion, Volume 37, Issue 4, 30 September 1943, Page 6

FINANCE & COMMERCE

WELLINGTON EXCHANGE

Yesterday’s Quotations

The latest buying aud setting quotation, recorded yesterday on the AVellington. Stock Exchange were as follows: —

■ Stock Exchange Sales Dealings in'stocks and shares recorded ou New Zealand’s Stock Exchanges yesterday were as follows, the number ot share's in each lot being shown in the case of AVellington :— WELLINGTON. No. of Sale Price, shares. £ 8. d. £5OO Tnscr. Stock, 3 per cent., 15/5/53-5G 98 12 6 200 Timaru Woollen 1 0 a AUCKLAND. Comm. Bank; of Aust., 16/6; Bank of N.Z., £2/2/-; Northern Steam, eon.. 2/2; Oamaru Woollen, £l/6/6; Dominion Breweries £l/18/-; Taupo Totara. Timber, ord., 7/3: ditto,, pref.. 14/-; Consol. Brick, 9/9. 9/10; Macky Logan, £l/10/3: Taranaki Oil, 4/6; Woolworths (N.Z.), 16/8: Woolworths (Syd.), (2), 17/9. Unofficial list: Pacific Forests, 5/9. CHRISTCHURCH. Inscr. Stock, 3 p.c., 1952-55. £9B: AVest-port-Stockton Coal, pref., 6/-; limaru AVoollen, £l/0/9; N.Z. Breweries, £l-16/11; Woolworths (Syd.). (2). 17/9. DUNEDIN. Inscr. Stock, 24 p.c., 1948. £9B; Ret’rig., 10/- paid. 12/6; Westport Coal. £l/5/6: McKenzies Dept. Stores. £-/7/o. N.Z; Paper Mills, £l/18/3.

RESERVE BANK

Note Issue Higher The sterling exchange funds of the Reserve Bank on September-20 totalled x> 05 595 283 an increase of £ioo,bb4. me nnip issue at £33,705,1CS Shows an increase loathe week of £143.316. The statement, as at Monday, September 20, is as iollows: — LIABILITIES. £ s. d.

Proportion of reserve to notes and other demand liabilities, 37.031 per cent., compared with 37.099 per cent, on September 13. The reserve nn September 20 was £28,388,594, an increase of £108,525. A year ago the reserve was £29,452,309. Sterling exchange on September 20 was £25.595.283, an increase of £103,664. Liabilities in currencies other than New Zealand currency .were £8566 (a decrease ot £4861). thus’making the bank’s net overseas assets £25,586.717, an increase of £lOB 525 A year ago these assets amounted to £26.650.512. Advances to the State Marketing Department totalled £4,171.397. a decrease of £4OO 3251 A year ago they were £.4,811,4§5. Advances to the State for other purposes are unchanged at £33,735.1X10, compared with £22.300,0(10 a year ago. The note issue on September 20 was £33.768.168. an 'lncrease nf £143.316. A year ago if was £26.856.971. Demand liabilities to the State amount to £12,330.940, a decrease of £1.197,821. The trading banks’ reserve balances tct_.il £29.330.332. an increase of £1.498,671. Oilier liabilities at £1,233.086 have decrened by £10.528. The statement balances at £79,765,402. an increase of £440,015. London Stock Exchange (By Telegraph.—Press -\esn — Copyright.) LONDON, September 28. On tlie Stock Exchange today prices for corporation debentures and stocks compared with previous quotations as fol.ows:

' Farmers’ Co-op. Auct. The accounts of the Farmers’ Co-opera-tive Auctioneering Company (Hamilton), for the. vear ended July 31 show profit at . £73,096. ‘compared with £74.379 in the previous venr anil C1k1.506 in 1911. Taxation is estimated at C 51.350. leaving £21.746. This, with last year's balance of £<l9’-. gives a total of £28.935. From this dividends paid bn preference shares absorbed . £12.660. leaving £16.278 available. The director's propose an unchanged dividend of 4 per cent, on ordinary shares, requiring £9670. and to carry forward the balance of £7208. Gross profits wore £197.762. compared with £197,174. and, general expenses nt .£123.444 were .£ll.Sk> higher. Estimated taxation at £51.350 compares with £52,000 in the previous year. Fletcher Holdings New Issue Dominion Special Service. AUCKLAND. September 29. The directors of Fletcher Holdings Limited, announce their intention to offer to existing shareholders up to 125.000 of the company’s unissued ordinary shares of £1 each at' a premium of 2/6 a share, ino issue opens on October 4 and closes on October 21. Existing shareholders are entitled to allotment of one share for every two held, and -the directors state that they obtained permission some time ago to Increase their capital by the issue of an auditioual 250.600 shares of £1 each.

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General reserve fund 1,500,000 33,768.188 0 0 0 0 Demand Liabilities — 12.330.939 15 4 (b) Banks (ci Other 29.330.332 0 1,233,085 10 9 6 Liabilities other than m ' .8.566 o 0 Other liabilities 1.504,310 IS 10 £ (N.Z.J79,785,402 7 5 ASSETS. s. d. Reserve — <a) Gold (b) Sterling exchange .. 2.801.S77 2o,595,2S3 10 0 Subsidiary coin 37,677 8 Advances to* the State — (1) Marketing P<'pt ■J. 1 4 L,»>94 1 (2i For other purposes . 33.735.000 0 0 Investments *••• 10,323,010 4 9 3,101.157 0 t £(N.Z.)79,765,4O2 7 5

Sept. 14. £ s. d. Sent 28. £ s. <1. Dalgety and Co., 4 p.e. 03 10 0 93 0 0 Dalgety and Co., shares 4 17 6 5 0 0 British Tobacco 1 12 0 1 14 0 Goldsbrough Mort. ... 1 0 9 1 1 3 P. and 0.. dot 1 13 •9 1 13 0