FINANCE & COMMERCE'

Dominion, Volume 37, Issue 120, 16 February 1944, Page 3

FINANCE & COMMERCE'

WELLINGTON EXCHANGE Yesterday’s Quotations

The latest buying aud selling recorded yesterday on the Wellington Stock’ Exchange were as follows:— Buyers. sellers £ s. d. £ a. d

Africa) — 1 12 6 c Cum dividend, x Ex dividend. Stock Exchange Sales Dealings in stocks and shares recorded on-New Zealand Stock Exchanges yesterday were-ns follows, the number: of shares in each Jot being shown in the case of Wellington :— WELLINGTON. No. of Salo price shares £ s . d. £250 Inscr. Stock, 3 per cent., 15/9/52-55 MOO 2 6

laser. Stock,--24 per cent., 1/8/46, £9B 10/-, ditto, 3 per cent., 1/8/51-54 (2) £99 5/-, ditto, 3 per cent., 15/9/52-53, £10i)/5/-; Pukekohe County Council 3-1 per ceut., 10/4/70, £lO2/5/-; Comm. Bank of Aust., 18/-; Bank of N.Z., £2/3/6; Bank o.t’ N.S.W £3l/7/6; Traders Finance, con, 7/-; N.Z. Insurance:, £4/9/6; Standard Insurance, £4; Auckland Gas (odd lot), 7/2; Taupiri Coal £l/7/-; Dominion Breweries, £2/3/-; Colonial Sugar, £6O; Entrican Sims, pref., 16/-; G. J. Coles, £3/5/6; Sanford, 7/6; Taranaki Oil 2/9. CHRISTCHURCH. Inscr. Stock, 2J per cent., 1/10/53, £95 10/-, ditto, 3 per cent., 15/5/53-56, £99/10/-; N.Z. Insurance, £4/9/-; Bruee Woollen. £l/14/9, £l/15/-: N.Z. Breweries, £2/0/101; Beath & Co., ord., £l/10/-; Macduffs, Ltd., pref. £l/5/7; Quill Morris (1936;, £l/6/-; Woolworths (N.Z.), 17/11. DUNEDIN. Inscr. Stock, 3 per cent., 15/13/43-56, £99 o/-, ditto, 3j per cent., 1957-60, £lO2/5/-; National Insurance, £l/5/-; Standard Insurance, £4; Union Steam, pref., £l/11/-, Bruce Woollen, pref., £l/7/-; Anthony Hordern, 19/74; Beath & Co. £l/10/-; McLeod Bros, £25; N.Z. Paper Gillis, £l/19/6. Wellington Gas Year Revenue had been £8957 greater than the previous year, but had been almost absorbed by taxation and extra costs of materials aud wages, said Dr. C. Prendergast Knight, chairman of directors of the Wellington Gas Company, when reviewing the past year's operations at the annual meeting yesterday. The consumption of gas had been the highest in the history of the company. The directors recommended the payment of a dividend of 3 per cent, for the last half of the company’s year. This, with the Interim dividend paid in August last, would give shareholders a returu of 6 per cent, for the full year, and was the same as paid for the previous year. After payment of the dividend the balance brought forward was £15,009. During the past, year there had been further deterioration in the manpower position, and in order to meet the decline in labour available for manufacturing purposes is was necessary to reinstate the 48-hour week. However, the depletion of staff had continued, and in spite of the relief from the 48-hour week the staff’ was 20 per cent, below normal. There were at present 70 employees on military serThe retiring directors, Mr. G. F. Pearce and Sir Charles Norwood, were re-elected. Westport-Stockton Coal Loss The annual report of the Westport-Stock-ton Coal Company for the year ended December 31 last states that the year’s output was 119,752 tons, as against 146,743 tons during the previous year. This reduction in output of 26,991 tons was caused mainly through abnormal conditions in the mine—-practically every working place In tl,e mine being wet. This meant shorter working hours. Absenteeism was also a contributing factor. After writing off £5999/17/3 and receiving the Government subsidy, the loss on the year’s work was .£11,055/1(1/4. This loss will be paid by tile Government,' so that the company's accounts tire square for the year. It is ri-eonimended that the balance in the appropriation account of £19,103/17/4 be carried forward. At Hie last annual meeting shareholders were informed that the company was carrying out extensive boring operations In Ils present field aud that the results were proving disappointing, aud that immediate steps were being taken to obtain a new area. This area had now been secured by negotiation, and had been proved by many bores to contain a high grade of eoal equal to the best produced In the Buller coal district. Its approximate posi ? tion was about one mile and a half from tin l present loco tram lino, and should be producing- coal about next July.

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£250 Ditto, 3 per cent, 15/5/5356 •90 7 6 225 Comm. Bank o£ Aust. .. 0 IS 0 375 National Insurance .... 1 5 fl 05 N.Z. Insurance '... 4 9 6 100 Bruce Woollen 1 14 9 100 N.Z, Breweries .......... ‘Late sale Monday. AUCKLAND. 1 0