FINANCE & COMMERCE

Dominion, Volume 37, Issue 37, 8 November 1943, Page 6

FINANCE & COMMERCE

Bank of England Return (By Telegraph.—Press Assn.—Copyright.) LONDON, November 4. The Bank of England return for the week ended November 4 is as follows:—

Government Stock Prices (By Telegraph.—Press Assn. —Copyright.) LONDON, November 4. British Government Stocks are lirrn and considerably more active. * The following table gives the mean Stock Exchange quotations for consols and colonial inscribed stocks, compared with those

Sandford Ltd Dividend Dominion Special Service. AUCKLAND, November 7. The accounts of Sanford Limited for the year ended August 31 show a net profit at £3314 compared with £3207 for the previous year, anil the directors recommend unchanged dividends as follows: 5 3-5 per cent, on preference shares and 5 per cent, on ordinary •shares, both free of taxes, and this will require £3307, leaving a carry forward of £lB2 against £176 brought in. Gold Mining The secretaries of the Okarito Five Mile Beach Gold Dredging Co., Ltd., report a washup of Boz. 3dwt. for 88 hours' dredging, 3047 yards being treated. , ; Waihi Mine’s Prospects “The mine is* being gradually exhausted and the end of its Jong life Is not far off,’ said the chairman, Mr. G. R. Mltchison, at tlic annual meeting in. London of the Martha Gold Mining Co. (Waihi), Ltd. “Meanwhile, with rising costs and continued shortage ot labour and stores there Is little or no prospect of arresting the decline in> annual profits.” ‘ I Tonnage crushed in 1042 was nearly 14,000 tons less than in 1041, added Mr. Mitehison, and proceeds of the sale ot gold and silver were over £lB.OOO less. The main reasons for the fall were that all gold shipments but one were sold in Melbourne, where the net price obtained averaged distinctly less than on sales in the United States in 1941, and that silver production for the year was lower. On the reduced tonnage there was comparatively little reduction in total working costs; working costs a ton treated were higher, both as regards labour and stores. Provision for taxation and duty on gold showed little change. There was a reduction of over £11,600 in the balance of profit carried to the balance-sheet. The New Zealand management had had to contend with increasing difficulties, principally shortage ot labour and the growing* east ami difficulty ot getting stores. In March, 1042, an award effected increases in labour costs. It seemed inevitable that these difficulties would continue, and it was greatly to the credit of Mr. J. 11. G. Banks and tlie New Zealand staff that they had met tlieni so well. Mr. Mltchison said he had little doubt that there would be a further reduction in dividend next year. The interim dividend (usually payable in November) would be omitted this year and a single and final dividend for 1043 would be recommended, to be paid after the next annual meeting.

Dow Jones Averages (By Telegraph — Press A*sn —Cnpvrlcrht.) 'NEW YORK. November 6. Dow Joncp averages (1926 equals 100) 20 Rail- ,32 Shares

Stock And Share Indices (By Telegraph.—Press Assn.—Copyright.) LONDON, November H. Govt. Home Indus- Gohl-

This Season’s Maize Prices It has been customary for some years past for the prices chargeable by growers and wholesalers for maize to he agreed upon In conjunction with the Government through the Internal Marketing Division. The prices so agreed upon in respect to the current season 1 have been incorporated in a price order Issued by the Price Tribunal. Those are Growers' prices (all less 5 per cent.).— October delivery. 5/10 per bushel; November delivery. 5/lii ; December delivery, fl/-; January-February delivery, fl/1; March-Aprll-Ma.v-.Tuno delivery, fj/2. All are f.o.b.s.i. Gisborne, Opotiki, Whakatane and .Tauranga. when so sold or otherwise ou trucks, growers' nearest station. Wholesalers’ Prices (net). —October delivery. 5/10 per bushel; November delivery. 5/11; December delivery, fl/-: JanuaryFebruary delivery. C/1 : March-Aprii-May-.Tunc delivery, fl/2. All plus any inward freight Incurred by the wholesaler. Tt is also provided in the order that the tribunal is empowered, unon application being made to it. to authorize higher prices or margins of profit in instances whore special samples or varieties of maize are sold exclusively for seed purposes.

Note issue: Govt, debt 11,000,000 In eireu- Ollier Govt. lation 1,005,1X10,000 secs. 1,038,200,1X10 In bank- Other secs. 800,000 “ 1 • £1,050.060.M0 £1,050,200,000 Gold coin 200,000 £1,050,200,000 •Amount of fiduciary issue. £ £ Capital ll.’.Oi’.OOO Govt. sec. 103,31'0,000 Kost 3,200.000 Disets., adDeposits: rances 1’®®®’®®® Public 0 100,000 Other secs, li,900,000 Bankers 152,800,000 Notes and „„„„„„„ Other acc. 52,500,000 coin 40,900,000 £229.100,000 £229,100,000 Proportion of reserve to liabilities, 22.18 per cent., compared with 21.«K> P er „ last week. The principal items of the fi'bnve return'** compare as follows witn those of last week:- 4 De pnhlie” .... 3,400%0 0.100,000 Bankers".'. 190.300.000 152,SOO,W0 Other accounts . 53,100,000 oj.pOO.OOO £248,800,000 £211.400,000 ....186.900.000 163.300,000 Disets., advances 1.600,000 .1'000, <tot> Other securities . 24.4W.OOO ■Reserve 53.500,000 40,900,000 Note circulation . 908,400,000 i,ovo,0u0,u00

of October 28: — Price. Variation. s. d. £ s. <1. Consols, 2| pc so 0 0 0 10 Of Fund. Loan. 1940-90 . 113 12 6 0 10 01 War Loan. 3j, 1052 . 103 5 0 0 5 Of Cour. Loan, 31, 1901 . 105 0 0 0 2 6f Victory Bonds, 4 p.c. 113 12 6 0 7 6? C’wealth, 4, 1945-75 . 103 2 6 0 2 6t C’wealth. 4. 1943-50 . 101 16 3 0 3 01 C’wealth, 3j, 1948-53 . 102 3 9 0 8 Of C’wealth, 3J, 1950-01 . 99 10 Ox 3 9t C’wealth, 3. 1956-33 . 94 5 0 0 5 Ot N.S.W., 34. 1930-50 . 100 3 9 0 1 3* Victoria, 3, 1929-49 .. 99 0 0 same Victoria, 5, 1945-75 . 102 16 3 0 1 Q’land, 3, 1942-47 ... 99 2 6 same S. Aust.. 3, 1910 (opt.; 1 S3 5 0 same S. Aust., 5. 1945-57 .. 102 17 6 0 7 <>T W. Aust., 4. 1942-02 .. 101 3 9 0 1 31 Tasm.. 4. 1942-02 ... 101 0 0 0 15 0* N.Z., 41. 1948-55 .... 104 7 6 0 2 6f N.Z.. 3. 1945 100 0 0 same “Lower. tHigher, . X, ex in teres t.

roads. Industrials, 8old. 1942 (high) .... 20.28 119 71 — 1942 (low) 23.31 92.92 — Oet. 21 34.94 138.00 591.000 Oct. 22 35.10 138.25 560,000 Oct, 23 35.01 138.29 226,000 Oct. 26 35.20 138.69 896,000 Oct. 07 J _ t 35.53 139.35 S77.OOO Oct. 28 35.25 138.97 715.000 Oct. 29 35.04 138.29 668.000 Nov. ........ 33.86 130.30 1,154,000

see’s. rails. trials. n> 1 nr>s. 1942 (hizh) . 114.-1 64.6 118.(1 158.1 1912 (low) . 113.4 51.1 0 128.1 Oct. 20 .... 112.(1 07.1 12S.7 104.8 Oct, 21 .... 112.6 67.0 128.3 104.8 Oet. 20 .... 112.5 (10.0 127.7 111 1.0 Oct. 27 .... 112.0 66.4 127.-1 164.0 Oct. 28 .... 112.0 00.8 127.1 101 3 Nov. 5 112.7 60.7 120.0 104.3