COMMERCIAL

Evening Post, Volume CXXXIV, Issue 62, 10 September 1942, Page 3

COMMERCIAL

SHARE MARKET

THURSDAY, SEPTEMBER 10, 1942. i Sellers' quotations in parentheses: — N.Z. Govt. Stocks.—2% per cent., 104G, £97 13s; 2 s/2 per cent., 1947, £97 15s; 3 per cent., 1945, £99 15s; 3 per cent., 1946-48, £100 ss; 3 per cent., 1951-54, (£99 15s); 3% per cent., 1950-59, £100 10s; 3V 4 per cent., 1957-00, £101 10s: 4 per cent.. 1948-40, £100, 4 per cent., 1948, £104 10s; 4 per cent., 1954-58, £107 15s. Bonds: 4 per cent., 1943-40, £100; 4 per cent., 1946----49, £104 10s; 4 per cent., 1952-55, £106 15s; War Loan, 1953, £91i 10s; Liberty Bonds, 17s 9d. Banks, Insurance,1 Finance. —Xat. Bank (£J ss); N.S.W., (£29 10s); Bank N.Z., (£1 i 19s 9d); Bank XIZ. "D," £1 9s 9d; Nat. Bank A'asia (£10), £11 ss; N.Z, Insurance, £3 10s 9cl; South British, £3 2s (id; Dalgety, £6 18s; New. King (pref.), 13s; N.Z. Guarantee, 2s lid (8s 3d); Loan and Merc, £20; W.P.C.A. (pref.), 5s 3d; Wn. Inv. T. & A., 6s Id; Wright, Stephenson, 19s; N.Z. Invest. Mort. and Dep., 8s Od. Other Shares.—Wellington Gas, £1 8s 6d; Wellington Gas (pref.), £1 2s; N.Z. Kef., (10s), 9s srl; Wn. Meat Exp., 8s 3d; I\ & 0., £1 14s 9d: U.S.S., £1 7s; Kelburn Tram (pref), £1 Os 4d; Fukeiuiro Coal, 16s Od; Bond's Hose, £1 8s; Kaiapoi Woollen.t- (£1 0s (id); Oaniaru, £1 .2s Od; Tlmaru, 17s Od (19s); Weilington Woollen, £7; Wellington Woollen (pref). £7 ss: Lcyland Timber, (18s); N.Z. Breweries, £1 13s; Consol. Brick, 0s lOd; Booth MacDonald (pref.), (7s); Dental and Medical, 15s 7d; D.1.C., 14s 6d; h. Zinc (pref.), £2 5s 6d.-.Griffin and Sons, Ltd.. 13s 9d; Griffin and Sons, Ltd. (10s),. 0s 9d; G J. Coles, £2 10s 9d; MacDuffs (pref.).t (17s 9d) ; Macky Logan, £1 3s; N.Z. Drug,* £3 15s; N.Z. Newspapers, £1 12s 6d; Tingey (pref.), £1 2s; Sharla.nd, £1 2s 6d; T.O. Fields, 4s 6d; Wilson's Cement, (17s sd) ; Cable (pref.), £1 2s 6d; Woohvorths (N.Z.). (14s lOd); Woohvorths Hold. (18s 6d) ; Barrytown, 9s; Maori Gold, (7d) ; Broken Hill South. £1 2s 6d; Mount Lyell, (£1 Ss). Sales reported at 10 a.m. call today:— £31,500 3 per cent. Inscr. Stock, 15/9/1952----55, £99 10s and £5000, £99 10s; 100 New Zealand Insurance, £3 11s 3d, and 250, £3 11s: ISO N.Z Farmers' Co-op., A pref., £2 0s 3d; 400 Tlmaru Woollen, 18s; 200 Taranaki Oil Fields, ss; 119 Donaghy's Rope and Twine, £2 8s; 100 Mount Lyell £1 7s, 200 £1 7s, 100 £1 7s 3d, and 100 £1 7s 6d. Sales reported at 3 p.m. call yesterday :— 70 Union Bank, £7, and 100 Broken Hill Pty., £1 19s. *Cum div. fEx tliv. .

(P.A.) AUCKLAND, This Day. Sales (morning call) : Bank of New Zealand, 39s 6d. Union Bank, £7; South British Insurance, 63s 3d; Broken Hill Proprietary. 395; Colonial Sugar, £51; Taranaki Oil Developments, _s 6d; Wilson's Cement, J7s _d; Wool worths (N.Z.), 14s lid; Mt. Morgan, Ss 3d. Noon call: Newton King (pref.), 14s; Auckland Gas, 6s 4d; Wilson's Cement, 17s 2d; Broken Hill South, 245; Auckland Gas (perp. deb.), £S0 ss. DUNEDIN, This Day. Sales: McLeod Bros., £25; Mt. Lyell, 27s 9d. Sale reported: N.Z. Refrigerating (cont.), 9s 6d. SHARE PRICES FIRMER IN LONDON. (By ,Telegraph—Press Association—Copyright.) LONDON, September 8. Quotations for bank and other shares in London, with comparisons for August 25, are as follows:— Aug. 25. Sept. 8. £ s. d. £ s. d. Bank of Australasia . 5 0 0 5 2 6 E.S. & A. 2 8 0 2 9 6 Union Bank 3 17 6 4 1 3 Bank of N.S.W 17 0 0 17 10 0 Nat. Bank of N.Z. ... 120 140 Bank of N.Z 18 0 19 0 British Tobacco 139 139 Goldsbrough Mort .... 015 0 015 0 Dalgcty 315 0 4 0 0 P. & O. Defd 18 9 1 11 6 Loan & Merc. Debs. .. 68 10 0 68 10 0 Loan & Merc (ord.) .19 10 0 19 10 0 Bank shares were quoted August 11: —Australasia, £5; E.S. & A., 475; Union, 77s 6d; N.S.W., £17; Nat. of N.Z., 235; Bank of N.Z., 275. LONDON SHARE INDICES. LONDON, September 9. "Financial Times" indices (1926 equals Govt. Home Indus- Goldsee'e. rails, trials, mines Sept. 5 114.6 57.6 105.8 143.7 Sept. 8 114.6 57.8 106.0 144.2 Sept. 9 114.7 55.0 106.2 144.5 FOREIGN EXCHANGE RATES. Telegraphic exchange rates on overseas centres, supplied by the Bank of New South Wales, are as follows:— On Buying. Selling New York, dol. to £NZ 3.2542 3.2050 Montreal, dol, to £NZ .. 3.6039 3,5290 Ceylon, pence to rupee .. 22 3-16 22% India, pence to rupee .. 22 3-16 22% S. Africa, £SAlooto £NZ 123 125y 8 London, £stlOO to £NZ 124% 125 Australia, £NZIOO to £A 100',& 100 Fiji, £NZIOO to £F ... 90 88% MINE AND DREDGE RETURNS. N'galiere dredge, for August, returned 4950z for 400 hours from 187,177 yards. Blackwater Mines return for August was:— Crushed 3919 tons, yielding ■ 16630z of gold from all sources, the value of which, when taking gold at" 168s per fine ounce, was £13,969. Working expenses, not including ordinary or war duty, were £8468, development expenditure was £974, and capital expenditure was £442. Slab Hut Creek return for week ended September 5 was 250z from 16,800 yards in 118 hours, obtained from Little Grey wash. Okarito wash-up was 240z sdwt for 84 hours' dredging. EASTERN GOODS. India may in some degree supply certain lines imported by New Zealand from the Netherlands Indies and China. Among them, it is understood, will be peanut,' kernels, walnut meat, and peppers. DOMINION WOOL APPRAISAL. I The New Zealand Woolbrokers" Association is. the authority for the following returns:— Wool, 1941-42 appraised 826,904 bales or 26,736 more than for 1940-41. Gross proceeds. £14,493,313; average value per pound, 12.25d. DAIRY FARMERS UNDER CONTROL. That dairy farmers are looking closely into the proposal for amalgamation of district dairy and cheese factories was evident at a recent meeting in Feilding. It was there stated that producer control was gradually passing to tht Government, and- it was argued that unless dairy farmers themselves looked, to organisation of their own industry the post-war period would find the industry just about State con trolled. The dairy farmer has the price of his produce fixed by the Government, which in turn disposes of it. His labour costs are also fixed. It is contended that there is little consideration given to the price he receives for his produce, nor to the value of his labour and that of his family. CITRUS FRUIT PRICES. Citrus fruit prices, Melbourne markets. August 22:—Lemons, 4s to 10s per bushel; grapefruit, 10s to 17s; mandarins, 14s to ,21s and higher; oranges, 9s to 21s; passion fruit, 14s to 24s half bushel. Prices in Sydney markets, August 13, were: Lemons, 6s to 10s and a few higher; grapefruit, 8s to 11s and a few higher; oranges, navels, 8s to 14s; mandarins, 8s to 18s; passion fruit, 12s to 18s half bushel. BUSINESS IN BRIEF. Standard Rubber Co. of Selangor, Ltd., an Australian company, has reduced its capital by repayment of £15,000 of preference capital. The chairman, Mr. G. B. White, said it was not determined whether the company would eventually receive compensation for the rubber stocks and machinery destroyed under Government instructions, received. George Farmer, Ltd., bacon curers, Victoria, report net profit £2744, a reduction on the year by £2438, after providing £1500 for taxation, against £700 for 1940-41. Dividend, reduced' from 5 per cent, to 3 per cent. Gross profit, £30,456 (£30,044) ; expenses, £23,367 (£21,409). Directors report gross profit practically the same as last year, but increased wages, pay roll tax, caused increase in selling and overhead expenses. High price and shortage in supplies of pigs made the year difficult. ■ Rangiotu Dairy Company's balance-sheet showed a pay-out of 17.457d per pound of butter-fat, all grades; average pay-out. 1941----42 was 16.981d per pound, and surplus appropriation account shows a surplus of £324. No dividend on share capital. Cox Bros. (Aust.), Ltd., drapers, Melbourne, advise the New Zealand Stock Exchange that net profit for the yedr ended July 31 amounted to £53,206, after providing £40,000 for income tax. Last year net profit was £80.7-13, income tax £27,557 provided. Directors declare a final dividend of 3V& per cent (7 per cent, for the year) on "A" and "B" preference shares for six months ended July 31. They also declare a final dividend of 5 per cent, (making 10 per cent, for the year) on ordinary shares for the same period. Amount brought forward in appropriation account from last year was £2492, from which has to be deducted £830 income tax paid in excess of amount, reserved for last year. Net amount brought forward is £ 1U62, which, together with year's profit of £53.200, makes available for distribution £54,868. Dividend payments for the year absorb £48,621, leaving a balance of £6247. The sum of £3000 is to be transferred to provision for contingencies, and £3247 carried forward. Dividends payable September 30, after confirmation at the annual' meeting.