FINANCE & COMMERCE

Dominion, Volume 37, Issue 127, 24 February 1944, Page 6

FINANCE & COMMERCE

STOCK EXCHANGE

Sales In New Zealand Dealings in stocks anti shares recorded on New Zealand Stock Exchanges yesterday were as follows, the number of shares in each lot being shown in the case oi Wellington:— WELLINGTON. No. ot Sa ’ e Price. Shares. S. d.

AUCKLAND. Inscr. Stock, per cent.. 1/10/53, .1.95 17/6: ditto. 2i per cent.. 13/9/47,_£99/10/-; ditto, 3 per cent., 1/8/51-54, £99/5/-ditto. 3 per cent., 15/9/52-55, £lOO/5/-; ditto, 3 per cent., 15/12/53-56, £99/10/-; ditto, 4 per cent., 15/4/46-49, £lO3/5/-; Takapuna Borough Council. 3J per cent., 1/S/3-. 10/-; Comm. Bank of Aust., 18/-, 18/1; Bauk of N.Z.. £2/3/9; N.Z. Loan and Merc., pref.. £100; North Auckland Farmers. B pref., 15/6; N.Z. Insurance (2), £4/8/9; Gear Meat, £l/4/-; Broken Hill Pty., £2/6/6: Fat-mere’ Trading, £l/5/6; Northern Koller Mills, pref., £l/5/-; Reid Rubber, £l/9/6; Mt. Morgan, pref., £l. CHRISTCHURCH. Inscr. Stock, 21 per cent., 1/10/53, £95 15/-; ditto, 4 per cent.. IIM6-49, £lO3/10/-; Newton King, pref., £l/2/-; N.Z. Loan and Merc., pref., £100: Kaiapoi Moollen, £l/4/-; N.Z. Breweries. £2/1/9; Booth Macdonald, pref., 10/3; Broken Hill Pty., £2/6/6; Bycroft Ltd.. £2/14/3; Colonial Sugar, £6O; Donaghys Rope. £3/o/-; Electro. Ziiffi. pref., £2/19/-; Hume Pipe (Aus.), 18/9: Woolworths (Syd.), (2), 19/6. DUNEDIN. N.Z. Loan and Merc., ord.. £5l; electroZine, ord., £2/17/9. London Stock Exchange (By Telegraph.—Press Assn— LONDON, February 22. On the Stock Exchange quotations of bank shares and other corporation debentures and stocks compared with previous

Shareholders of Market Gardeners Ltd. at the annual meeting at Lower Hutt on Tuesdav decided that receiving and delivery charges should be abolished forthwith. This reduction in selling charges would not ouly affect the company’s shareholders but would include all outside suppliers as well, it was stated. In presenting the report and balance-sheet, the chairman, Mr. .T. Weir, pointed out that the continued success and growth of the company, which was fully co-operative, had permitted of the rebate to shareholders for the past year ot the sum ot £2913 5/8 from the selling commission rate charged. Instituted in 1937, the rebate _figure had ndw reached the total of £7807 19/7. A dividend of 6 per cent, was agreed to. Turnover for the year totalled £219.573. The retiring directors, Messrs. E. T. Bartosh and A. J. Tilbury, were reelected. Gold Mining Gillespie’s Beach reports a return for the fortnight ended February 19 of 81os. for 216 hours from 26,422 yards. The Austral-New Zealand return for the 28 days ended February 19 was 4060 z. for 395 hours from 198,000 yards. North Kalgurlte (1912) Ltd., reports that for the period ended January 11, 7897 tons were treated for a recovery of 2501 ounces. The following information has been cabled to the London .office of the Martha Gold Mining Company (Waihi), Limited: — For the period ended February 5, comprising 17 crushing days, 10,063 tons of ore were crushed for a result of 2737 fine ounces of gold and 24,628 fine ounces of silver. The low tonnage crushed was duo to labour shortage. Placer (Vancouver) Subsidiaries.—For three months ended February 1, Pato Consolidated Gold Dredging, Limited, treated 2,588,000 cubic yards for 13,7550 z. fine gold, and recovered with its hydraulic units 30300 Z. fine gold. Value of the total production was £590,380 dollars. Asnazu Gold Dredging, Limited,' treated 1,623.800 cubic., yards tor 10,2510 z, of fine gold valued at 358,785 dollars. Mt. Morgan Deficit Mt. Morgan reports an estimated working deficit for the four weeks ended February 6 of £19,690. Clutha River Loss -

A loss o£ £3739 last year is shown in the accounts of Clutha River Gold Dredging, Ltd. (Londou). For the previous year the loss was £1947. The report said it had not Been possible to complete dredge alterations owing chiefly to lack of skilled labour. The capacity of the dredge was being increased from 120,000 yards to 209,600 yards per month. The flat areas, adjoining the Clutha River, on which the dredge would work, comprised approximately 525 acres. Tests showed that about 54 000,000 vards showed a' value over 6d. a yard with gold taken at £7 per fine ounce as against the present price of £8 8/-. At the rate of wages, etc., prevailing in 1939 it was estimated that costs of working would be about 2Jtl. per yard. The balance ot profit and loss account brought forward was £3609. Taxation provision of £1240 had been transferred to profit and loss, this provision being no longer, required, as all tax liabilities had been settled. After deducting the loss for the year, £lllO was carried forward.

£200 Inscr. Stock. 3 pc.. 19ol- • 54 . 99 5 0 £16S'5 Ditto. 4 p.c.. 15/5/49-52 . 105 5 0 Sil Liberty Bends . 0 19 9 263 Bank of N.Z - . *2 0 9 400 Gear Meat . •! 4 0 260 Jlacduffs. Ltd. ♦Late sale Tuesday. U 14 0

quotations as follows:Feb. 8 Feb. 22 £ s. d. £ s. d. Australasia ........ 6 12 fl 6 15 0 E S. and A 3 6 6 3 7 6 Union of Aust. ..... 5 17 6 6 O O N.S.W 21 10 0 21 10 0 National of N.Z. ... 1 17 6 1 16 0 1 10 4} 1 10 0 Others— British Tobacco .... 1 15 ■6 1 15 6 Goldsbrough, Mort .. 1 1 o 1 1 3 Daliretv . 5 5 0 5 8 9 P. and 0., def 1 15 0 1 15 0 N.Z. Loan and Merc., 4 p.c, deb 00 0 0 00 0 0 N.Z. Loan and Merc., nrd. ........ 41 0 0 40 15 0 Market Gardeners, Ltd.