FINANCE & COMMERCE

Dominion, Volume 37, Issue 206, 29 May 1944, Page 7

FINANCE & COMMERCE

Bank Of England Return (By Telegraph.--Press Assn.—Copyright.) LONDON', May 25. The Bank of England return for the week ended May -JI is follows:— Note issue— Gov’t, debt 11.000.000 1 ottier Govt. In eireu- secs. 1,138,100.000 Intion 1.127,800.000 other see. 900,000 In bank- G: 1,150.000.000 ing dept. 22,400,000 Gold coin 200.1X10 K 1,150,200,000 ~ 1,150,200.000 •Amount of fiduciary issue. £ Capital 14,500,000 Govt. see. 221.600,000 Rest 3,200.000 Dlseta,ad13,500,(W0 Other secs. 16.100,000 Banks 177,200,000 Notes and ..... .. Other acs. 51,600.000 coin -3.QQ0.000 £263,000,000 £ 263.000.000 Proportion of reserve to liabilities. 9.4 per cent., compared with 10.27 per eent. ' a Tb<rprincipal items of the above returns compare as follows with those of la-t

Government Stock Prices ,Bv relegrapit.-Bres^^^m^.uht) The market for British Government, New Zealand, and Australian securities is quiet but .steady. Prices, compared with those ol

Dominion Fertilizer Co, Dominion Special Service. DUNEDIN, May 28. The balance brought forward from the profit and loss appropriation account of the Dominion Fertilizer Company, LUI., last year was £3291 and the net P ro ®Ljj n the year ended on March 31 was Li44o Tho directors recommend payment ot a dividend of 3 per cent., which will absorb £7217 and leave £3515 to be ca ” le ‘L t „ or ’ ward to next war’s accounts. In IH.> a dividend of 7 'per cent., including 3 a per cent, from 1912 profits, was paid. Perpetual Trustees’ Year Dominion Special Service. DUNEDIN, May 28. The annual report of the directors shows that the net profit -of Hie Perpetual Trustees, Estate aud Agency Company, Ltd., for the year ended on March 31 was £6313 while the amount carried forward was £1778 Land mid income tax payments Have amounted to £2327 national and social security charges to £641, inc Interim dividend of 96. a share absorbed £937 and the subsidy to the staff J>eueflt fund and donations to Patriotic f' ll * l ’ 3 £699. The directors recommend payment of a further dividend of 9d. a share, a contribution of £5OO to the staffl bei '®' fit fund and the carrying forward ot £5049 subject to Income tax and national and social security charges. N.Z. Paper Mills The 39th annual meeting of shareholders of New Zealand Paper Mills Ltd. was held In Dunedin this week. It was that operations for the year March 31 resulted,in a net profit of .£14,437, this being slightly lower than the net return for the previous year. After payment of an interim dividend oi 3 per cent., requiring £6OOO, the profit and loss appropriation account sh ,f!jyed an available balance of £31,910. The directors’ recommendation to pay a final dividend of 4 .per cent., making 7 per cent, for the year, and to carry torward £_3,94u, was adopted. ~, . Tho chairman, Mr. T. Somerville, referred to the improved position in respect or the supply of raw materials, and said that production throughout the year had been well maintained. National Timber Co. Loss The accounts of the National Timber Company (Ngongotaha) for the year ended March 31 show a loss of £6263, compared with a loss of £394 the previous year and a profit of £S3IS in 1942. The report says the loss was brought about by the shortage of log supplies at the mill. Loder Government order the company was directed to work bush beyond the end ot the tramline and hnd experienced very great difficulty and delay, due to labour, equipmeet and material shortages, in gaining access to the major portion of this blockr Log deliveries had now commenced over the tramline and it was hoped that supplies would be maintained during the next period. The company had suffered a severe loss in the death of Mr. J. A. Lamb, who had been a director since the inception of the company. The retiring directors, Messrs. G. P. Lamb and H. T. Smyth, are nominated for re-election, and Mr. J. A. Lamb, jun., bas been nominated to fill the vacancy caused by the death of his father.

week: — Deposits— Public Bankers Other accounts May 17. . 16,000.000 .. 167,200,000 . 34.400,000 May 21. £ 13,500,000 177,200,000 54,000,000 £238,200,000 £245,300,000 ... 210,500,000 Disets., advances 5,100,000 Other securities . 15,900,000 221,600,000 2.300,000 16,100,000 23,000,000 Note circulation . 1,126,300,000 1,127,800.000

Price. \ ariation 4? <1. £ S. <1. Consols. 24 p.c "" 10 0 0 5 01 Fund Loan. 1040-00 . 112 .17 6 sanie~ War Loan, 31, 1055 .. 103 5 0 0 1 3j Conv. Loan, 31, 1061 . 10-1 12 6 same Victory Bonds, 4 p.c. 112 0 N.Z., 1O49-5S I'M 17 fi N z -t 104-5 too 17 6 0 2 8t ' '