AUSTRALIAN SHARES

Evening Post, Volume C, Issue 40, 17 February 1942, Page 7

AUSTRALIAN SHARES

"SEVERELY DEPRESSED"

(By Telegraph—Press Association—Copyright.) SYDNEY, February 16. The fall of Singapore and the prospect of the Government curbing free trading on .the ; Stock Exchange, severely depressed today's market, resulting in sharp falls in heavy tsading. Investors are frankly concerned as to the outcome of the Government's intervention. A conference between a representative of the Federal Treasury and the Stock Exchange to discuss representations for a modification of the Government's plan was held, but no official statement has been issued. Today's sales Included:—Bank of New South Wales, £25 ls; Commercial Banking Co., Sydney, £16 ss; Associated News, pref., 12s lOd; Howard Smith, 19s; Burns, Philp, 41s; Australian Gas. A, Sss; British Tobacco, 345; Tooths Brewery, 36s 9d; Tooheys, 21s 6d; Woolworths, lis; Consolidated Industries, 35s 9d; David Jones, 275; W. R. Carpenter, 21s; Broken Hill Pty., 29s 3d; Broken Hill South, 18s -Od. / Eastern tin dredging shares have slumped 71 per cent, in the past month. I MELBOURNE, February 16. Sales. —Commercial Bank of Australia, 12s 3d; Consolidated Industries, 36s;.British Tobacco, 34s 9d; Felt Textiles, 275; Mount Lyell, 21s 6d; Mount Morgan, 6s 7d; Loloma, 12s 6d; Broken Hill Pty., 29s 3d, and eontrib., 23s 6d. 'foreign exchange rates. The Bank of New South Wales quotes telegraphic rates of exchange (New Zealand currency) on overseas centres as follows: —

MARKET GARDENERS, LTD.,. YEAR.' Market Gardeners, Ltd., Wellington, report for the year ended December 27, a net profit of £1085 13s 7d, after making full provision for all trading contingencies and liabilities. Early, in 1941 the directors suspended the bonus system as applying to shareholder suppliers, but it was subsequently found that matters had progressed satisfactorily enough to permit reinstating the bonus system, and paying back to shareholders £842 7s 7d. During the year a further £1000 was lent to the Government for duration of the war and six months afterwards. The company also subscribed £220 in War Loan Stock. It is recommended that shareholders accept a dividend of 6 per cent, on share capital. Messrs. J. Weir and C. Killeen* were re-elected directors unopposed. QUILL MORRIS PROFITS. Quill Morris (1936), Limited, Christchurch, earned a net profit of £3017 In the year ended January 31, 1942, against £3382 in the previous i 2 months. The amount available, including £517 brought Into the accounts, is £3531, from which an Interim dividend of 2y 2 per cent, was paid In August, leaving a balance of £2621. The directors recommend a final dividend of 2% per cent., making 5 per cent, for the year, unchanged from last year, and a transfer of £1000 to general reserve. The carry-forward will be £707. DIVIDENDS DUE. Dominion Investment and Banking Association—lnt., 2% per cent. .. Feb. 20 X.D.V. Boxes, Ltd.—int., 3 per cent. Feb. 20 Auckland Gas —final, 2Yi per cent, or 4 per cent, per annum Feb. 23 Bank of N.S.W.—quarterly, 6s Feb. 26 Atlas Flour—final, 5 per cent Feb. 27 Southland Meat—final, 8d Mar. 1 Standard Insur.—half-year, ls 3d .. Mar. 2 Electro. Zinc—int., pref. and ord., 4 per cent.; new ord. 1 per cent. . Mar. 27 Huddart Parker—pref., 3 .per cent. ; ord.." 7 per cent Mar. 28 ARGO GOLD DREDGE. Argo gold dredging return for the week ended February 14 was 240z for 119 hours and 10,500 yards. A dividend (No. 22) of Id per share (free of Income tax) has been declared on all the shares ln this company, and will be payable on April 1 nest. This dividend represents a distribution of £2000 to the shareholders, making £43,200 paid in dividends since operations commenced.

On. Buying. Condon, £ to £stg.100 . 124 7 6 Australia, £A to £100 . 100 10 0 Fiji, £F to £100 90 0 0 3. Africa, £ to £SA100 . 123 0 0 N'ew York, dols. to £1 . 3.2542 Montreal, dols. to £1 .. 3.6039 rav_J fins to £1 6.187 tndia, Ceylon, d. to rupee 22 3-16 Rhodesia, £ to ER100 . 124 0 0 Selling. 125 0 O 100 0 0 88 12 6 125 5 0 3.2050 3.5290 6.004 22% 126 0 0