PRICE AND RETURN ILLEGAL PAYMENTS OVERDUE TAXES PROCERA BREAD PROCESS (NEW ZEALAND), LTD.

Evening Post, Volume CXX, Issue 134, 3 December 1935, Page 14

PRICE AND RETURN

ILLEGAL PAYMENTS

OVERDUE TAXES

PROCERA BREAD PROCESS (NEW ZEALAND), LTD.

AUSTRALIAN SHARKS

MARKET AND STRIKE

(Uy .Telegraph.— Pi ess Assn.—C'opyri^ht.l SYDNEY, December 2.

On the Sydney Stock Exchange today the general trend of values was downward, the threat of the shipping hold-up having had an adverse influence. Sales: Bank of New. South Wales. £32 17s 6d; Commercial Banking Co. of Sydney, £18 2s; Colonial Sugar, £42 12s 6d; Associated News, 24s 9d; ditto (pr,ef.), 24s 4Jd; Automatic Totes, 20s 4.', d; Howard Smith, 18s Gd; British Tobacco, 39s lO^d; Tooths Brewery, 54s- 9d; Tooheys, 30s 6d; Drug Houses, 28s 9d; Australian Iron and Steel-, (pret), 25s 3d; Australian Glass. 84s; Dunlop-Perdriau, 16s 3d: Winchcombe Carson, 30s 6d; Anthony Horde.m, 19s 10.'.d; Standard Cement, 2)s: New South Wales Mont de Piete, 27s 6d; Stedman, 17s 9d; Hume Pipe, 15s 3d; Meggitts. 24s 3d: Mark Foy, 24s 6d: Newcastle Gas, C, 13s 3d; Broken Hill South, £6; North Broken Hill, £9Rawang Tin, 8s 9d; Emperor, 19r 6d; Tnvua. 3s lOd; New Occidental Gold los.

MELBOURNE, December 2. Stock Exchange sales today included:—National Bank of Australasia, £5 paid, ,£6 18s; Australian Glass, ,85s; Electrolytic Zinc, 355; Gordon and Gotch (pref.X 34s 9d; Xoloma, 38s 7id; Enterprise, 755.

Latest sales reported and 'made on the Stock Exchanges of the Dominion, with the highest, prices and the approximate yields per cent, per annum to investors (all subject to appropriate taxes and exchange where operative), based on the last annual dividends, plus bonuses, if any,, and considering redemption • and brokerage in the case of redeemable securities where dated, were as follows:—

iSsit not brokerage, n.—Xot available, i.—lnterim div. rate increased.

AUDITOR'S CRITICISMS

The Commonwealth Auditor-General (Mr. CeruUyJ nas expressed resentment at criticisms 01 ins report. He said'that ne cua riot wisn to enter into a pubiic controversy. Tne observations in ms report had oeen based on the xacts as Jig iound them. "There is nothing m the Audit Act which places any ruatriction on what the Auditor-Gen-eral snan say'or not say iri his report," Mr. Cerulty continued. '■He is, or should be, no more suoject to criticism man a Jtiign Court Judge. His position is thai of any auditor of any public company. He is tnere to protect the interests ox. tne shareholders—in this case me taxpayers—and if he tails to do that, he lavs in his duty. During my term as Auditor-General,, 1 have said at all times what 1 have considered it my duty to say. 1 have had no -axe to grind, and 1 nave not been influenced by political considerations."

Mr. Cerutty said that lie had been outspoken, auout pensions because it was clear'that trie' Commonwealth.-was being roobea ol thousanas ol pounds yeany by illegal payments.

"The whole system ol pension payments urgently needs tigntening up," Mr. Cerutty said. "If something is not done the system, as I stated in my report, must inevitably collapse under its own weight."

When the Australian Commonwealth Treasurer's accounts were made up for the end of the last financial year it was revealed that taxes ■to a total amount of £5,781,908, due at June 30 last, were unpaid at that date. Huge as it is, this sum represents a considerable reduction on the amount of taxation outstanding two years before, for at June Sft), 1933, the amount unpaid was £8,357,558. Income tax comprises more than 75 per cent, of the total sum outstanding, the remainder being represented by land tax, estate duties, sales tax, war-time profits tax (of which nearly £250,000 remained uncollected) and flour tax. On the subject of tax arrears, the Auditor-General in his annual report mentioned that income tax with a yearly assessment of over £8,000,000 shows over £4,000,000 arrears, but sales tax, with a similar assessment of over £3,000,000, has resulted in arrears of £202,000 only.

The secretary of the New Zealand Stock Exchange Association has been informed by Procera Bread Process (New 'Zealand), Ltd., that the share registers of the company will be closed for the registration of transfers as from December 9 to December 20 inclusive.

■ . . Highest Yield. prieo. p.c., p.a- £ s. (1. £ s. d. Wellington. Govt. Bonds, 4 p.c. (1916 ) a. 101 10 0 . 3 0 4 Govt. JJonds, 4 p.c. (1949) a. 104 10 0 3 9 10 Govt. Bonds, 4 p.c. 01)55) a. 107 0 0 3 10 2 Bank of N.Z 28 G 425 Reserve Bank 600 4 34 Leyland-O'Bricn ....120 4 8 10 Taupo Totara 093 4 6 5 .N.Z. Breweries 2 15 0 2 10 11 'Proeera Bread (vender) 2 3 3 n. Unofficial— " Woolworths, Ltd. a. 5 IS G 2 2 2 Auckland. Ins. Stock.- 4 p.e. (1940) a. 103 0 0 3 13 3 Inscr. Stock. 4 p.c. (1955) ..• a. 108 0 0 3 11 8 Comm. Bank of Aust. 0 17 0 3 8 7 Bank of N.Z 2 9 0 4 17 Reserve-Bank (i 0 0 4 3 4 X.Z.■•Insurance 3 3 (i 3 3 0 Northern Steam .... 0 0 3 8 16 ' 9 Kauri Timber 139 5 5 3 Leyland O'Brien 1 2 G 4 8 10 Dominion Breweries 0 17 9 — N.Z. Breweries 2 15 0 2 10 11 British Tobacco .'..:.. 1 10 9 3 0 4 Broken Hill Pty. ...i. 2 17 0 3 10 2 Colonial Sugar ' 1. 42 5 (I 2 19 2 Electro. Zinc • L 14 (i — Farmers' Trading .... 073 5 10 4 G. J. Coles . ..* 3 5 9 3 0 10 1C.JD.V. Box (10s pd.) 0 9 9 8 4 1 Talisman Dubbo .....' 0 10 (i — Mount Lyell .', 110 2 7 7 Unofficial— Woolworths, Ltd. .... 5 IS 0 2 2 4 Cliristchurch. Ins. Stock, 4 p.c. • ■: (1940) a. 104 15 ■' 0 3 S 10 Govt. Stock (1949) ..a. 104 7 G 3 10 0 Govt. Bonds, 4 p.c. (IMG) a. 104 la 0 3 S 10 Govt.' Bonds. 4 p.c. (1949) a. 104 17 C 3 0 1 Govt. Bonds. 4 p.c. (19oo) -a. 107 10 0 3 9 2 Chch. Drainage, 4Vi l>.c (31/12/42) ....a. 105 10 0 3 10 0 Bank of N.Z 2 9 3 4 12 Christen inch Gas ..... 1 10 0 3 G 8 Broken Hill Pty. ,;..i. 2 17 3 3 9 10 Kami Timber 1 3 11 u 4 0 Tooth and Co. 2 14 0 3 14 0 Dimlop-Perdriau 0 16. 0 — N.Z. Farmers' Co-op. (Bl ... 1 10 0 0 6 8 Big-'Kh-er 0 1 10 •■ — Mount Lyell' 110 277 Unofficial — Woolworths, Ltd. (ord.) 5 IS 0- 224 ■ ' Dunedin. X.Z. llufrijr. (10s pd.) 0 10 10 5 10 N r.Z. Breweries 2 15 0 2 10 11 Bendigo Goldlight .... 003% — Unofficial-^— ■ . • , WoolwoHhs, Ltd.... 5 18 0 2 2 4 a.—Market price, includes accrued interest,