TRADE AND FINANCE

Evening Post, Volume CXXIV, Issue 89, 12 October 1937, Page 12

TRADE AND FINANCE

WEAK MARKETS

FIRST YEAR'S REPORT

PRODUCE & MARKET REPORTS FROM DAY TO DAY

PRICES MARKED DOWN ; : LONDON STOCK EXCHANGE - (By Telegraph—Press Assn.—Copyright.! ' (Received October 12, 9.30 a.m.) ] LONDON, October 11. . . The international political situation ' has. adversely affected the stock and ■ share markets. , , ■ Business opened on a weak market and prices generally were? marked t down. (By Telegraph—Press Assn. —Copyright.) ' .■; SYDNEY, October 11. - Business on the Stock Exchange was fairly bright today with a moderate ■ turnover and little variation shown in I prices either for industrial or Barrier Mine shares. Government loans were * stronger. ? Sales.—Bank of New South Wales, £33 2s 6d; Commercial Banking Co. of Sydney, £20 2s; Commercial Bank of Australia, 17s '4Jd; Colonial Sugar, £47 10s; South British Insurance, Dss 6d. Adelaide Steam, 31s 9d; Huddart, . Parker, 42s 6d; British Tobacco, 48s 6d; r Tooths Brewery, 55s 3d; Toohey.s, 325; . Australian Glass, 91s 3d; DunlopPerdriau, 22s 3d. '■ Farmers, 33s 9d; Anthony Hordern, 18s 10id; Stermans, 15s 9d; Felt and . Textiles, 41s 6d; Newbold Brick, 35s " 6d; Gordon and Gotc'n, 54s 3d; United Provisions, 7s Bd. Dalgetys, £10; Wilcox Mofflin, lis 6d; Younghusband (new), 34s 10£ d; Standard Cement, 17s 6d. ■ Broken Hill Proprietary (new), 14,s 6d; North Brokens, 625; Emperor. 12s 6d; Taranaki Oil, 7s; Electrolytic Zinc, 535, and pref. 54s 9d. ! MELBOURNE, October 11. The market generally is quiet but leading industrials and Barrier .Mine ( shares show a tendency to improve. ■ '. Sales.—National Bank of Australasia . (£5 paid), £7 3s; Bank of Australasia. ■ >£11 10s; Howard Smith, 21s; Carlton Brewery, 63s 9d; G. J. Coles, 93s 9d; f Drug Houses, 26s 6d; Australian Iron and Steel (pref.), 28s. Australian Glass, 91s 6d; DunlopPerdriau, 22s 4d; pref., 38s Gd; Felt " and Textiles, 41s; General Motors, 255; , Yarra Falls, 40s; Mount Morgan (ex. div.), 10s; Mount > Lyell, 39s 9d; Broken Hill Proprietary, * 775; North. Broken Hill, 635; Broken * Hill South, 40s 6d; Zinc Corporation, ' £5 12s 6d; Emperor, 12s sd; Loloma, : . DOLLAR AND STERLING "(By Telegraph—Press Assn.—copyright.) (Received October 12, 10 a.m.) LONDON, October 11. tr ' Sterling exchange, London on New York, 4.95J dollars 'to £1. Dollars. October 9 4.95 7-16 October ,8 4.95 3-8 October 7 4.95 i October 6 4.95| October 5 4.95 9-16 * October 4 4.95 9-16 October 1 4.95 September 1 4.96 7-16 May 1 4.94 April 1 4.89 5-16 ! March 1 4.8813-16 January I 4.90 7-8 * PRICE OF COLD V (By TelegTaph—Press Assn.—Copyright.) (Received October 12, 10 a.m.) LONDON, October 11. The price of fine gold per ounce, 140s 6Jd. ; :. s. d. ; October 7 ; 140 6£ October 6 140 7 October 5 140 0 October 4 140 6J October 2 140 6 October 1 140 7} September 1 *140 o£ August 3 139 7l July 1 140 6 June 1 ....»■••••»••••»•• 140 9 * May 1 140 8 ■ = April 1 142 1 C ; March 1 .' 142 3J i February 1 142 0J ( ; - January 4 ■ 141 8 * PRICE OF SILVER. i i. 1 ■ 1 (British Official Wireless.) ; (Received October 12, 10.30 a.m.) V, ' RUGBY, October 11. >, Price of silver: Spot, 20 l-16d per , ( «z; forward, 19. 15-16 d. BRITISH WAR LOAN. (British Official Wireless. 1 ) (Received October 12, 10.30 a.m.) RUGBY, October 11. The per-cent. British War Loan i» quoted at £101 2s 6d.» _r j JAVA EXCHANGE. V '(By -Assn.—Copyright.) 1 (Received October 12, 10 a.m.) BATAVIA, October 11. Sterling exchange, 8.94J guilders to £1. ■ The rate on October 9 was 8.94. THE FRENCH FRANC., i (By Telegraph—Press Assn.—Copyright.) ; (Received October 12, 10 a.m.) LONDON, October 11. Sterling exchange on Paris, 149J francs to £1. The rate on October 9 was 149 15-32. : TOOHEY'S BREWERY. At the annual meeting of Tooheys, Ltd. held in Sydney, the chairman (Sir Mark Sheldon) said that the com- . pany had shared in the increased prosperity of the public and of traders throughout Australia, and that indi-. cations were for the maintenance of prosperity during the coming year. "We would again remind you of the important revenue' collected through the breweries by the Federal Government," Sir Mark Sheldon said. "The amount of excise collected on beer for the 12 months ended June 30 last was £6)109,528. The amount of excise on beer paid by us absorbs well ove'r 50 per cent, of the gross amount we receive from our products, and this is paid before "the beer leaves the brewery." . In recent years, remark Weddel and Co., London., in their annual review, there has been a distinct tendency for prices of all descriptions of salted butter, with the exception of Danish, to approximate each other in price. "New Zealand: and Australian are now quoted at practically, the same level, and rightly so in view of the immense improvement in the quality of Aus- ; ♦rclian."

WHAKATANE PAPER MILLS Directors of the Whakatano Paper Mills, Ltd., in their report for the year ended June 30, state that, as no trading i has yet been carried on by the company or by its subsidiaries, all expenditure has again been capitalised. Income i received from invested funds has been 1 applied to a reduction of the total L expenditure. A profit and loss account ' is therefore not shown. Paid-up capital increased during the year by £118,192, and at June 30 stood I at £1,811,955 in respect of ordinary shares and at £80,380 in preference i shares. The balance-sheet shows cash i deposits at £186,892, and unpaid capi- ! tal £ 180',380, a total of £367,273. Re- [ maining capital expenditure on plant ! to complete the initial production programme is estimated at £350,000, bring- ■ jng the total capital cost of the Whaka- • tane works to round £500,000. Depre- ■ elation of £1515 has been provided , for furniture and equipment, plantai tion machinery, and equipment. This amount has been capitalised. The Whakatane works will begin ; operation during the current financial ; year, the present report constituting • the final chapter of the ten-year development programme. The building is , well forward, and the works should be ; operating early in the new year. Plani tations are in excellent condition, re--1 port the directors. Maintenance costs in the year showed a further reduction . of £3840 to £6515. Annual charges from now on should not exceed Is an acre. Some experimental logging was i carried out during the period. PRICE AND RETURN Latest sales reported ana made on ;he Stock Exchanges of the Dominion, with the highest prices an J the approximate yields per cent per anuum to Investors (all subject to appropriate taxes and exchanges where operative) based on the last wear's distributions, and considering redemption and brokerage in the case of redeemable securities where dated were as follows:— Highest Yield, price. p.c., p. a £ «. d. £ «. d. Wellington. Inscr. Stock, 4 p.c., X5/2/4C-4G a. 103 0 0 312 4 Inscr. Stock, 4 p.c., 15/7/1939-41 ... .'.a. 98 0 0 3 810 Wellington City, iVi p.c., 1/2/1944 ....a. 104 0 0 310 10 Wellington City, iVt p.c., 1/2/1945 ....a. 104 0 0 312 0 Wellington Citj', 4 p.c., 31/3/1946 ....a. 101 10 0 314 0 Union Bank 911 0 217 7 Gear Meat 018 6 4 1 0 Broken Hill Pty. ... 316 6 3 5 4 Broken Hill South .. 2 0 3 Sl3 10 G. J. Coles 413 0 4 0 7 Shillings, Ltd 0 18 9 — Unofficial —. Woolworths, Ltd. ... 110 0 2 1 S Auckland. Inscr. Stock, 3 p.c., 10/7/1939-41 a. 98 12 0 3 1 2 Wanganui City, 4% p.c., 1/11/1943 ....a. 104 0 0 3la 3 ■ Comm. Bank 017 0 318 5 Bank of N.Z 2 4 0 410 10 National Ins 018 0 43 4 N.Z. Insurance 3*3 Newton King (pref.) 0 D 0 -- Auckland Gas 1 1 0 o 4 9 Mosgiel Woollen —. 10 7 6 317 1 N.Z. Breweries Farmers' Trading .... 10 0 < 0 0 Morris Hedstrom ... 1 9 0 oIJ 3 N.Z. Newspapers .... 117 & o 6 8 Radio (1930) 1 2 0 13 U 8 Taranaki Oil 0 1 f „ : Mount Lyell Ij% ? 5J 0 : Mount Morgan — 01U i Unoffic'al— Woolworths, Ltd. ... 1911 219 Christchurch. i Bank of N.Z. ..' 2 4 0 410 10 Nat. Bank AW(£5 ? x o 4 , 6 ! Bank of N.S.W 33 2 6 312 5 N.Z. Breweries 2 9 6 3 8 8 Broken Hill Pty 315 10 3 511 Dunlop-Perdriau .... 1 2 0 0 7 J Electro. Zinc (ord.) . 212 10 81- o Electro. Zinc (pret.) . 214 i 0 810 G ,T Coles - 412 0 4 1 0 Hume Pipe 019 11 0 0 Grey liiver, 0a 3d paid 7 11 Broken Hill South .. 110 0 S l'J o N.Z. Loan and Merc. ! (ord. stock) ® 9 , 6 „ N.Z. Newspapers .... 117 4 : « Radio (1936) ] ] S Mount Lyell 1 18 9 . o 3 2 Unofficial — Woolworths, Ltd. ... 1 9 9 2.2 0 . Ounedin. 1 Bank of N.Z 24 0 41010 : National Ins. 018 0 4 3 4 N.Z. Loan and Merc. (ord. stock) ....... 33 0 0 > — N Z 'Drue 31® ® 4 5 4 I Woolworths' (N.Z;) .' 5 0 0 3,43. Auckland Gas ..— i' i n bi* o Broken Hill South ... 2; 0 0 815 0 . North-Broken Hill .. 3 16 9,10 1 . a,—Market price includes accrued interest I but not brokerage. \ NEW COMPANIES Registration of new local companies is reported by the Mercantile , Gazette" as follows:— . Carrigafoyle Flats Ltd., private com- • pany, Wellington. Capital: £3000 into 3000 shares of £1 each. Subscribers: Wellington—F. W. Wright, D. M. Wright, D. M. S. Wright, J. S. Wright. E. L. S. Wright, E. S. Wright 500 shares each. Objects: To acquire, take over, and purchase from F. W. and D. M. Wright, Wellington, boarding-house proprietors, all that piece of land containing 38.7 perches, laying out and preparing the, same for building purposes, constructing, altering, maintaining, fitting up or improving buildings, houses, flats, and incidental. . - Tahunanui Service Station Ltd., pri- ' vate company, Tahunanui. Capital: . £2750 of £1 each. Subscribers: Tahu- ; nanui—N. Nightingale_llso, R._Cussen 100 Nelson—A. K. Greenslade 1200, E. A. H. Bisley 250. Objects: To acquire and take over garage and service station carried on by A. K. Greenslade, to carry on business of garage proprietor and service station, and incidental. _ , . . Duncalf and Son Ltd., private company, Palmerston North. Capital: £4000 into 4000 shares of £1 each. Subscribers: Palmerston North—K _0. Duncalf 3000, R. O. S. Duncalf 1000. Objects: Art metal workers, engravers, platers, and dealers in and workers .in metal and minerals, and incidental. Twentieth Century Fox Film Corp. (NZ.) Ltd., private company, Wellington. Capital: £50,000 into 50,000. shares of £1 each. Subscribers: Sydney, New South Wales—W.- J. Hutchinson 49,996, S. S. Crick 1. Wellington—E. L. Rutledge 1. M. A. Tpomey 1, A. K. S. Mackenzie 1. Objects: Photographers and dealers in photographic materials, and of opera house cinematograph installations, theatrical and music hall proprietors, and general incidental. C. L. Simpson and Co. Ltd., private ; company, Wellington. Capital: £550 , in 550 shares of £1 each. Subscribers: Wellington—C. L. Simpson 549 ; R. L. Macalister 1. Objects: To deal whether as wholesalers or retailers ; of and in groceries, tobacco, ironmongery, electrical goods, drapery, and general incidental.. EXPORT OF SPANISH SHERRY. De Goni Feuerheerd and Co., Jerez, : Spairi, have cabled to their New Zea- : land representatives that as from Oc- i tober'l the Spanish Government will • collect an export tax of £1 4s per butt i of 108 gallons of wine or about 2Jd ; [per gallon, or 7d per case.