LAND COMPANY'S YEAR

Evening Post, Volume CXIII, Issue 141, 16 June 1932, Page 14

LAND COMPANY'S YEAR

[From "The. Post's" Representative.)

T . '■■.'•■' '."•'■ -'. - ,;LpNpON,. / 13th. May. In -announcing the interim preference dividend' oh /the ~A- preference stock, the directors .of-the-New* Zealand and Ausr tralianLand' Company, point; out that they have, decided '.to delay; consideration of..the payment of •£ ■ dividend •on the ordinary stock. A similar, announcement was made a year ago, ana it will be remembered that when the full' accounts were" issued in November last for the 1931 year, the company showed a loss of £74,182, although the figures compared favourably with those of the previous year. The poor prices- obtained for wool, accompanied with unsatisfactory -weather conditions in ; certain directions, were responsible for_ the adverse results. The loss was arrived at after charging interest. Unfortunately, to maintain the preference dividend and to provide for the-Jeduced ordinary dividend a draft on contingency fund was again made, amounting to £130,000 as against £120,000 in 1930. The contingency fund was strengthened by transferring £90,000 from provisions made in previous years, then estimated: not to be required, along with £10,000 from the same, source id .investment depreciation -fund;. After completing these internal charges the contingency fund was weakened' to the extent of only £34,000, appearing in the balancesheet at £206,000, as against £240,000 previously: The- ordinary dividend' was reduced, form 4 to 2 per cent. " . ,

Wellington 'Stock 'Exchange— ' ' (10 a.m.) Buyers. Sellere. £ 6. d. ' £ 8. d. N.Z, Government Loans— 4% p.c. Bonds, 1939 .. 92 10 0 93 5 0 _ 4% t>.c. Bonds, 1938 .. 92 10 0 — K 5% p.c. Bonds, 1936 .. 99 5 0 100 0 0 K 5% p.c. Bonds (Feb., 1937) 99 5 0 100 0 0 5% p.c. Bonds (Sept., P 1937) 99 5 0 — 5% p.c. Bonds, 1937.. 9'6 5 0 — S! 4%'p.c. Ins. Stk., 1939 „ and 1938 ...... ..'. W 10 0 — fa 5% p.c. Ins. Stk., 1933 99 10 0 — y 5% p.c. Ins. Stk., 1930 99 a 0 100 0 0 5%'p.c. Ins. Stk., Feb.,' . . s: 1937) 99 5 0 — 5% p.c.. Ins. Stk. x (Sept., 1937) ...;.. 99 5 0 100 0 0 j 5% p.c. Ins. Stk., 1937 96 2 0 - — Debentures— Wgtn. Gas Co 99 0 0 — Wgtn. .Racing Club . — 89 0 0 Bank. N.Z.,, 5% p.c, . C 1939 ........:" 95 7 6 97 0 0 Dunediu City, 5% p.c, . 1944 9S 0 0 — b Wn. City, 5% p.c, "1940 .:.....:...... 98 0. 0 . — * Levin' Boro., 6p,e.,- ; ■ f 15/2/36 - 100 0 0 c Makerua' Drain: Bd., 6 I p.c, 1950 ....,...;. — 95 0 0 Banks— . Australasia 9 0 0 9G 0 Comm. of Aust. (ord.) 0 13 0 — I Comrrii Banking Co., Sydney ...... 14 0 0 — National N.Z — 3 1 C New South Wales ... 25 0 0 — New Zealand* 2 10 2 2 3 Union of: Aust.: ..:... G 15 0 G 18 0 K K p j] G V I* T 11 5. e M G W SI T 1! 0 r E £ 0 I) 1 E r E B 1 Financial— Goldsbrbugh, Mort.* .' 1 6 0 10 9 N.Z. Guarantee' Corp. 1 " ■ (ord.) .:.:.. ;..Viv 0 4-1 - — >. N.Z. Invest, Mort., and Deposit -r^ 0 8 0 Wn.' Invest., T. & A. — 0 86 ■Wgtn; Deposit and •Mort. . —. ; ° s 3 GasAuckland ...<......... — l- r o Auckland (coat.) ... — 0 15 4 Christchurch ........ 15 0 —• Wellington (ord.) . ., . 1 .7 r 0 — Insurance— , . National ' ............ .0 11 2 — New Zealand >1 16 8 — South British ........ 210 0 . — Meat Preserving— - N.Z. Eefrig. (£1) .... - 0 11 3 N.Z.. Refrig. (IPs) .. .0 3 10 0 4 2 i Wgtn. Meat Export , - • (pre£.), 0 11 8 — • Wgtn. Meat Export • (ord.) ............... 03 9-^ ■ Transport— ' I Huddart, Parker (old.) 110 — ; Union Steam (pref.). 0 18 6 . — 1 Coal— ; Pukemiio , — 1 0; 0 • Timber— ' Kauri 0 8 6 0 10 0 t Leyland, O'Brien. ..... — 10 0 ■ National ............. — ; 0 4 0 > Taringamutu ............ — .05 0 ' Breweries— Carlton ,-;: .,.. 1, 6 3 ~ New- Zealand* ....... — 1 410 Staples" and Co. '....;.- ' X 3 0 — Miscellaneous— . , Brit. Tobacco, (ord.)* 1 G 6 176 - Burns, Philp, & Co. 1 10 .0 2 0 0 , Colonial Sugar ■.:..... — 41 5 0 r Electro. Zinc (pref.) 0.18 3 — f N.Z. Drug ...'......-■ 2 7 0 — s Woolworths (pref., both issues), 14 0 — \ Oil— i Moturoa 0 3 3 — - Mining— ' ■ •. '■■' Mt. Lyell ...-.....;.. 0 16 3 — King ~Solomon ....... 0 12 0 13 ,? Blackivater 0 8 3 — |j. Consol; Goldfields ..'032 — '■' Sale on 'Change; Goldsbrough, Mort.*, l' 20s 6d. . s ' iLate' reported sales yesterday:—5% p.c. I Gov't. Bonds (1933), £100; 5% p.c. Govt. ;t Stock, (1933), £100. / . *Cum. div.