COMMERCIAL

Evening Post, Volume CXXXIII, Issue 8, 10 January 1942, Page 5

COMMERCIAL

:-— . ♦ WALL STREET UNEASY SLIGHT RECESSIONS (Rec. 8 a.m.) NEW YORK, Jan. 9. Stocks on 'Change today showed some fractional recessions partly because of uneasiness produced by the Government's financial programme; but Australian Government issues, both Commonwealth and State, took a sweeping upward movement over a, wide range. AUSTRALIAN SHARES RECOVER. (By Telegraph—Press Association —Copyright.) SYDNEY, January 9. Business on the Stock Exchange made an appreciable recovery today. Prices displayed a tendency to harden, though turnover was restricted. ■ * ~ Sales': Commercial Bank of Australia, 12a sd; Bank of N.S.W., £24 ss; National Bank, £10 paid, £10 17s; Australian Gas, 89s; Howard Smith, 19s 7d; Bradford Cotton, 325; Mort's Dock, 17s Id; Felt Textiles, 325; Lustre. 16s 6d; Stedman, 12s; W. R. Carpenter, 30s; Tooths, 475; Associated News, 9s 4d; and pref 14s 6d; Amalgamated Textiles, 8s 9d; Broken Hill Pty'., 32s 6d; Henry Jones, 44s 3d. MELBOURNE, January 9. Sales: National Bank, £5 paid, £5 4s; G. 3. Coles, 535; Dunlop, 20s 3d; Herald. 4(>s 6d; Emperor Mine, 6s lOd; Loloma, 16s 4d; Mount Lyell, 245. DIVIDENDS DUE. Woolworths Properties—int. pref., ord., 3 p.c Jan- lo Gear Meat —final 9d and bonus 3d (less Interim 3d) •>»"■ -1 j Nat. Bank of N.Z.—lnt. iy 2 P-c, less U.K. tax Jan- 27 Union Bank—final, 4s, at 7 p.c. per annum (less tax) Jan. .8 Ballin's Brewery—final, 3 p.c. or 5 I p.c. per annum Jan. <v j Commercial Bank—int. pref. at 4 p.c. j per annum; ord. at 6 2-3 p.c. per annum • • Feo> 8 ' LONDON SHARE AVERAGES. (By Telegraph—Press. Association— Copyright.) (Rec. 8.30 a.m.) LONDON, January 9. •'financial Times" Indices (1928 equals Govt. Home. Indus- Gold see's. Rails, trials, mines. Dee 2 ..• 113.8 52.9 100.2 181.6 Jan. 2 113.8 55.0 102.0 173.1 Jan. 7 113.8 55.0 i 02.3 174.2 j an 8 113.9 54.9 102.9 175.2 Jan. 9 113.9 54.8 103.5 175.5 LOCAL EXCHANGE RATES. The Bank of New South Wales quotes telegraphic rates of exchange (New Zealand currency) on overseas centres as follows: — On " Buying. Selling. London, £ to £stg. 100 124 7 6 125 0 0 Australia, £A to £100 . 100 10 0 100 0 0 ■Fiji, £F to £100 ... P0 0 0 88 12 6 S. Africa, £ to £SA 100 123 0 0 125 5 0 New York, dols. to £1 . 3.2542 3.2050 Montreal, dols. to £1 .. 3.6039 3.5290 Java, tins, to £1 ... 6.187 6.004 India, Ceylon, d. to rupee 22 3-16 22% Singapore,'NZd to 1 dol. 34 41-64 35 39-64 1 Rhodesia, £ to £RIOO . 124 0 0 126 0 0 HEMP GRADINGS. The chief hemp grader reports total gradlngs for December 112 bales (all at Auckland), against 177 bales for December, 1940. Tow gradings (all at Bluff) 122 bales, against nil i for December, 1940. UNION BANK DIVIDEND. The inspector of the Union Bank of Australia, Ltd., has received a cable message stating that the directors have declared a final dividend for the year ended August- 31 of 4s a share, being at the rate of 4 per cent., less United Kingdom income tax at 6s 2%d in the £ (the standard rate of 10s In the £, less Dominion relief of 3s 9%d in the £). Dividend payable January 28 at current rate of exchange for demand drafts on London at date of dividend warrants. The general meeting of proprietors will be held In London on January 28. An interim dividend of 3s a share (equal to 3 per cent.), less British income tax of 0s 6d in the £, was paid on July 30, 1941. The distribution for the year thus totals 7 per cent. The bank is liable for social security charge and national security tax upon this dividend and that paid on July 30 last, and no social security charge or national security tax on these amounts is payable by the shareholder. PALMERSTON MARKETS. The Dominion Auctioneering Co., Ltd., Palmerston North, reporting on the first saie •of pigs and poultry held in the New Year, states that small entries came forward, but there was an excellent demand for all lines. A keen sale resulted in weaners selling to 14s each, porkers to £2 9s, and baconers to £3 10s. Poultry was keenly sought after, heavy table hens selling to 5s 6d each, cockerels to 4s 6d, and young ducks to ss. Large supplies of fruit and vegetables came forward, and met a ready sale. Potatoes were in short supply. Prices were as follows: Pigs: Best weaners, 13s 6d to 14s each; slips, 16s to 19s; heavy stores, 32s to 355; medium-weight porkers, £2 3s 6d to £2 9s; light porkers, 39s to 41s; baconers, £3 3s to £3 10s. Poultry: Heavy table hens, 4s 9d to 5s 6d each; cockerels, prime, 4s to 4s 9d; young ducks and drakes, to ss; pullets, best, 5s to 7s; backward, 3s to 4s; ban- j tarns, to 2s. Fruit and vegetables: Raspberries, Is 3d to Is 6d per lb; boysenberries, 10s 6d to lls 6d per tin; black currants, 9s to 10s 6d case; peaches, dessert, 8s to 10s; cooking, 5s to 7s; plums, dessert, 5s to 8s; cooking, 2s to 4s; tomatoes, local Is to Is 4d lb, Nelson 9d to Is lb; cucumbers, 8s to 10s (id case; cabbages, 8s to 9s case; caulflowers, 10s to 15s bag; swedes, 10s to 12s 6d case; rhubarb, 3s to 6s dozen bundles; lettuce, 2s to 6s case; green peas, 4d to 7d lb; French beans, Is to Is 4d lb; broad beans, 3d to 5d lb; carrots, Is to Is 4d bunch; parsnips, Is to Is 6d bunch; spring onions, 7d to 9d bundle; onions, 3d lb; potatoes, 2%d lb.