STOCKS AND SHARES. AUSTRALIAN SHARES

Evening Post, Volume CXX, Issue 140, 10 December 1935, Page 12

STOCKS AND SHARES.

AUSTRALIAN SHARES

pEKRX AND DIUGES SMITH, Stock ■*- •nd Sharebrokera, National Bant Buildiug» (opp. Q.P.0., Wellington) Members Wellington Stock Exchange Qablea anrl Telegrams; "Enneroerry."

T^LTfN F. McCABE. Member of We!----f lington Stock Exchange, Stock and Sharebroker, Bank of Australasia Chamber* 101 Customhouse Quay, Wellington. Xd. 43-220. Telegrams; ULTMA, Wstn.

EFFECT OF SHIPPING DISPUTE

(13y -Telegraph—Press Assn.—Copyright.)

SYDNEY, December 9. On the Sydney Stock Exchange today the shipping dispute made matters quiet. Price movements were mostly small, the trend-of-them being easier, but Broken Hill shares were still very firm.

i- Sall S-~^ Commercial Bank of Australia, 18s 6d; Colonial Sugar, £42 10s; Associated News, 24s 7Jd; Howard bmith, 18s 9d; Burns, Philp 64s- British Tobacco, 39s 6d; Tooth's Brewery 55s 6d; and New Zealand delivery, 55s 6d; Tophey's, 30s 3d; Australian Iron and Steel, pref., 25s 3d; Australian Ulass, 84s 3d; Winchcombe Garson, 30s 6d; Wilcox Mofflin, 10s sd; Morris Hedstrom, 24s 9d; Henry Jones, 375; 4Jd; David Jones, 42 S 6d; General Industries, 20s; Permanent Trustee, 17s: Mark Foy, pref., 21s; United Provisions, 12s 7d; Beard Watson, 17s 3d; Mt. Morgan, 36s 3d; Broken Hill Proprietary, 58s l£d; Zinc Corporation, BUs 9d; Placer Development, £5; New Occidental, 14s 9d; Loloma. 34s- Emperor, 16s 6d; Tavua, 3s 9d; Koroere, 9s; Woolworths, first pref., 39s 6d; Woolworths, ordinary shares, buyer £5 17s 6d, seller £6. MELBOURNE, December 9. Stock Exchange sales today included: National Bank of Australasia, £10 paid, £14 Is; ditto, £5 paid, £7; Gordon and Gotch, pref., 355; "Herald and Times," 63s 9d; Mt. Lyell. ,21s 3d; G. J. Coles,: 65s 9d; North Broken Hili; £& 18s; Broken Hill South, £6 Os 6d; Emperor, 16s 9d; Loloma, 33s 9d. " >

QUEENSLAND INSURANCE

RESERVES & CONTINGENCIES

Mr. James Burns, chairman of directors of the Queensland Insurance Company, Ltd., at the annual meeting of the company in Sydney last week, said this would be the jubilee year of the company, which was formed and registered in Sydney in October, 1886. He also said that during the year the company transferred £250,000 from reserve fund to capital account, which now'amounted to £750,000, represented as paid-up. . This meant a distribution of bonus shares in the proportion of one for each two held by shareholders. The general reserve fund at the time of the transfer stood at £450,000, so that the transfer referred to reduced it to- £200,000. Out of this year's surplus the company were transferring to reserve £50,000, and another £50,000 had been transferred from contingencies, .which makes the reserve fund now £300,000. The contingencies referred to were credit balances in small internal underwriting accounts which had been operating for many years. The amount remaining after the transfer was considered amnly sufficient to cover the contingent liabilities represented.

Although the investments of the company had increased during the year, continued Mr. Burns, the return was not relatively larger because of the reduction in the rate of interest on investments generally. It would be seen that the company had shown rates and taxes on investments separately instead of including them with the other items under- this heading which applied to general underwriting. The amount paid in taxation was £31,307, less £10,577, taxes on interest and rents. This then showed the actual amount of taxes, paid on underwriting results of the company as independent of income from investments.