FINANCE & COMMERCE

Dominion, Volume 37, Issue 249, 18 July 1944, Page 6

FINANCE & COMMERCE

RESERVE BANK Sterling Funds Decrease

Tlie sterling exchange funds of tlie Reserve Bank ou July 10 totalled £30,398,994, a decrease ot £194,662. Tlie note issue at £37,42-1.307 shows a decrease’ of £70,539. The statement, as at Monday, July 10, is us follows: — LIABILITIES.

Proportion ot reserve to notes and other demand liabilities 35.374 per cent., compared wtt.li 38.152 per cent, on July 3. The reserve on July 10 was £33.171,096, a decrease of £215,329. A yt-qr ago the reserve was £31,239,601. Sterling exchange on July 10 amounted to £30,398,994. a decrease of £194,662. Liabilities in currencies other than New Zealand currency total £30,775 (an increase of £20.667).. thus making tlie bank’s net overseas assets £30,368,219, compared with £30,583,548 on July 3. a decrease of £215,329. A year ago these assets were £28,437.724. Advances to the State Marketing Department total £6,520,166, a decrease of £842.434. A year ago they were £9,020,681. Advances to the State for other purposes remain unchanged at £35,885,000, compared with £30.953.000 a year ago. The note issue on July 10 totalled £07,424.307. a decrease for’ the week of £70,539. A year ago it. was £32,321,151, and two years ago £25,505.862. Demand liabilities to the State amount to £12,112,740, an increase of £51.865. The trading banks’ reserve balances total .£36.063.485, a decrease of £1.414,889. Other liabilities at £838,737 have increased by The statement balances at £89,784,910, a decrease of £1.045,298. STOCK EXCHANGE Sales In Ngav Zealand Dealings in stocks and shares recorded on New Zealand Stock Exchanges yesterday were as follows, the number of shares in each lot being shown in the case of Wellington WELLINGTON.

AUCKLAND. laser. Stock. 21 p.c., 15/9/47. .£99/5/-; ditto. 4 P.c.. 15/4/46-19. £lO2/5/-; ditto, ■1 p.c., 15/6/52-55. £lO5/12/6; Nat. Bank of Australasia, con., £6/5/-; Bank of N.Z., £2/5/7; Bank of N.S.W., £3B; Dalgety and Co., £B/13/-: Goldsbrough Mort, £l/11/9: N.Z. Insurance. £4/13/6: South British Insurance, £4/2/6; N.Z. Refrtg.. £1 paid, £l/9/3; Devonport Steam, £l/12/-; N.Z. Breweries, £2/2/6; Broken Bill Pty., £2/6/-; Claude Neon (N.Z.). £l/7/-; Farmers’ Trading, £l/6/6; Fletcher Holdings £l/5/6: ditto, rights. 2/2. 2/3: Radio (1936). 17/9; Woolworths (Syd.). £l/2/3. CHRISTCHURCH. Nat. Bank of N.Z. (2), £2/14/9: £2/15/-: Westport Coal, £l/5/4; N.Z. Breweries, £2 2/6; Fletcher Holdings (2), £l/5/6; Mason, Struthers. 14/- paid. 13/-: Radio (1936). (2), 17/1): AYoolworths Properties. £1 10/-; Wellington Alluvlals. 2/10. DUNEDIN. Inscr. -Stock, 3 per cent., 15/9/52-55, £99 5/-; ditto, 3 per cent., 15/5/53-56, £9B 15/-; ditto, 3 per cent., 15/12/53-56, £9B 7/6; National Bank of Australasia, con., .£6/5/-; Com. Bank of Australia, 19/-; Dalgety and Co., £B/13/-; Woolworths (Syd.),' .£l/2/3. Gold Mining The Clutha return last week wag ISSoz. for 92 hours. Gillespie’s Beach dredge returned 290 z. Sclwt. for 115 hours from 15.000 yards in ground that had previously been dredged. Bank Forms Company A company styled Bank of New South Wales Nominees Pty.. Limited. Jias been formed and registered in Sydney as an adjunct of tlie Rank of New South Wales. The company will provide a permanent organization for the holding, as nominee of the Bank of New South Wales, of stocks, shares and debentures. chargc<l to (ho bank ns security ,fur overdrafts which, for various reasons, must bo registered in the names of nominees of the bank. The company will also art ns agent or attorney in tlia purchase, sale and holding of shares, stocks, debentures, etc.,'for customers or others. Sivan BreAvery Profit Net prolit of flic Swan Brewery Co., Ltd., for the half-year ended March 31. is £92.534, compared with £103.336 for tlie previous hall'-year. and £83.266 for (ho half-year ended March 31. 1913. It is arrived nt. after providing £11,033 for taxation. against £51,150 the previous halfyear. £-S2li‘i for depreciation. against £-8315. and £15,000 fur contingencies, against £20.000. Profit: for the year ended March 31 is Huis £195.870.’ against £tl’>li,3lli for 1912-13. ami is the company’s highest, to date. Ordinary dividend for the year ts 30 per cent., including bonus of 10 per cent., against 20 per' cent, last year, and requires £229.626. Preference dividend of <’> per cent, amounts to £3OOO. Carry forward is £14,305. against £38.OSI brought forward from the previous half-year. Consolidated profit, of tlie company and its subsidiaries for the half-year ended .March 31 is £123.161, af(er eliminating outside shareholders’ equity, compared with £79.55.8 for tlie previous halfyear.

General reserve fund Bank notes . J ,500,000 . 37,42-1,307 s. d. 0 0 0 0 Demand liabilities— (a) State . 12.112,739 11 10 (b) Banks . 36,0«3,4S5 9 4 (c) Other 838,736 12 9 Liabilities other than in N.Z. currency .30,774 11 0 Other liabilities . 1,81-1,896 19 9 S(N.Z .)S9,784,9aO 7 8 ASSETS. Reserve — (a) Gold . 2,801,877 10 0 (b) Sterling exchange . 30,398,993 . 53,575 10 8 Subsidiary coin 1 11 Advances to the Slate— (1) Marketing Dept. .. . 6,520,166 0 4 (2) Dor other purposes . 35.8S5.000 0 0 Investments . 11,736,055 ;8 6 Other assets . 2,389,272 16 3 £(N'.Z.)S9,7S4,040 7 8

No. of Sale Price. share'? £640 Inser. Stock, 3 p.c., 15/9/ £ 8. <1. 52-55 *99 0 £1900 £600 Ditto (2) Ins'cr. Stock. 3 p.c., 15/5/ 99 0 53-56 *98 15 0 £1000 98 15 0 200 Comm. Bank nf Aust. .. 0 19 0 1-) Dank of N.S.1V 38 0 0 200 Broken Hill Pty 6 0 231 Fletcher Holdings, rights (2) *0 o o 200 Macdnffs. Ltd., pref 1 7 6 100 B. and IL Tinge,y. pref. .. IVoobvorfhs (Syd.) (3) . ‘Late sale Friday. •1. 10 0 GOO 1