COMMERCIAL

Evening Post, Volume CXXXIV, Issue 120, 17 November 1942, Page 3

COMMERCIAL

SHARE MARKET

TUESDAY, NOVEMBER 17, 1942

Buyers' prices; sellers' quotations in parentheses ;—

N.Z. Government Loans.—Stocks: 2% . P-c, 1940, £98; 2% p.c, 1947, £97 15s; 3 p.C, 1945, £99 15s; 3% p.c,. 1956-59, £101 ss; 3V 2 p.c, 1953-57, (£lO4 10s); 4 p.c, 1943-46, £100 10a; 4 p.c, 1954-58, £108; War Loan, 1/10/53, £92 12s 6d. Bonds: 4 p.c, 1943-46, £100 10s: Liberty Bonds, 1949, 18s.

Banks, Insurance, Finance—Nat. Bank of N.Z.. £2 5s Gd: Bank N.S.W.t, £29 10s; Bank New Zealand!, £2 0s 6d; Bank New Zealand "D"t, £1 10s; Nat. Bank A'asia (£10)t, £11 os; Nat. Bank A'asia (£s)t, £5 ss; Queens land Insurance, £2 11s; Dalgety, £7; Equltuble Bldg,, £1; N.Z. Guarantee, 2s 10d; Loan and Merc, (£33); W.P.C.A, "(pref.), 5s 3d; Wgton. Invest. T. & A., (7s 4d) ; Wright, Stephonson, 19a 6d; N.Z. Invest., Mort., & Dep., 8s 9d.

Other Shares,—Wellington Gas (ord,), £1 10s; Wellington Gas (pref.), £1 2s; Gear Meat, 18s 8d; N.Z. Refrlg. (£1), £1 3s 6d; Bond's Hosiery, £1 8s; Felt and Textiles, £1 18s 6d; Manawatu Knitting*, £1 10s; Oamaru Woollen, £1 2s 9d; Wellington Woollen, £7 ss; Wellington Woollen (pref.). £7 12s 6d; Leyland Timber*, 18s 3d; British Tobacco, (£2 4s 6d) ; Broken Hlllf, £1 18s 3d; Colonial Sugar, £51; Cox ' Bros., 5s 8d; D.1.C., 14a 6d; D.I.C. (pref.). £1 ss; Dunlop, 18s; Electro, Zinc (ord.)t, 62 ss; Electro, Zinc (pref)f, £2 8s 6d; Hume Pipe, 10s; G. J. Colesl £2 15s; Griffin and Sons (£l)*, 17s; Griffin and Sons (10s)*, 8s 6d; Mac Duffs (ord.), 6s; Mac Duffs (pref,), 17s 9d; McKenjslCe, £1 19s 6d; Mackay Logan, £1 4s; Mllburn Lime, (£1 14s lid): N.Z. Drug, £4; N.SS, Newspapers, £1 13s 6d; N.Z. Paper Mlllst, £1 13s 9d; Ttngey (pref.), £1 2s; Sharland, £1 3s 3d; Taranaki Oilfields, 5s 6d (6s); Wilson's Cement*, 18s; Cable (pref.). £1 2s; Woolworths, Ltd.," (10s) ; Woolworths (N.Z.), (15s); Woolworth's Properties, £1 4s; Barrytown, 9s 6d; Grey River, 13s (14s); Mt. LyelJ*. £1 Bs. No sales first call this day. Sales made after going to press yesterday: 250 Bank of N.Z. "D" Long Term, £1 10s 6d; 100 Mt. Lyell*. £1 8s 6d. - *Cum div. fEx div. (P.A.) > AUCKLAND, This Day. Sales (morning call) : Kaiapoi, 19s; Dominion Breweries, 29s 6d. DUNEDIN, This Day. Sales reported: X.Z. Breweries, 35s 9d; y.Z. Refrigerating (cont.), 10s lOd. D.I.C. PROFITS AND TAXES. Mr. P. L. Halsted presided at the annual meeting of the D.I.C. Dunqdln He informed shareholdcra that "the company has again had v satisfactory year, and net profit after payment of all expenses and making full and ample provision for depreciation, land and income taxes. Social Security charge, and National Security tax amounts to £39,327 4s 9'q, compared with £39,272 12s 9d last year. The year has been a record-breaking one all round,"record turnover, record takings, and record taxation. For the first time in the company's history takings exceeded the million mark. Goss profit at £351,573 is £23,071 more than last year, due entirely to increased turnover. Net profit prior to making provision for taxation amounts to £161,370. of which the Government receives 75.6 per cent., equal to Just over 15s in every pound. This leaves jusl under 5s for payment of dividends to shareholders anil adding to reserves. For every £1 shareholders get Jn dividends the Government receives £4 2s 7c1." GOLD DREDGING RETURNS. Okarito dredge has been refloated and dredging will be recommenced when the pontoons and framing have been straightened. Dredgemaster reports 15oz sdwt gold, which was on the dredge when it sank, has been recovered. Snowy River dredge last week returned 150oz for 156 hours from 27,600 yards. Blackball Creek return was 450z for 102 houre, and Golden Sands 41oz for 33 shifts. DRILLING FOR OIL. (P A.) GISBORNE, This Day. The New Zealand Petroleum Company reports that at the Devon bore the 9 5-8»i casing has been run and cemented at 7630 ft. Drilling has been resumed. The well has been advanced 530 ft in the past month The last reported formation was hard mudstone with thin sand streaks. AUSTRALIAN RICE CROP. Official estimates of the rice crop of the Murrumbldgee irrigation,, area are 60,000 tons of paddy from 34,000 acres against 42,000 tons from 23,720 acres last year. Sufficient rice should be produced to meet all service, civilian, and export demands is the opinion of the Australian War Organisation of Industry * Department, OPOSSUM SKIN VALUES. The final sale of opossum skins was held •in Dunedin yesterday, when some ldU.uuu skins were submitted. Quality on the average was below last year's standard. As there were fewer supers and firsts offering, competition was somewhat restricted, the only market for the export of these furs at present being the United States. Values, compared with the ratea ruling in October, can be quoted as follows:—Blues and blacks sold about on % par; red browns and red necks, par to 6d lower; dark browns, 6d to Is lower; greys and rustys, 3d to 6d. Thirds, damaged, were practically unsaleable, and passinga frequent.' Blues sold to 11s each, greya to 8s 7d each, rustys to 7s, red necks to 7s 7d, browns to 5s lid. blacks to 4s 9d. BUSINESS IN BRIEF. Mr. Frank B. Spencer has been elected chairman of directors of Nestle and AngloSwiss Condensed Milk Co. (A'asia), Ltd., and of New Zealand Milk Products, Ltd., in place of the late Sir Robert Anderson. In view of the falling-off in hire-purchase tnisiness, Mutual Acceptance Co., Ltd., Sydney, is considering placing before preference shareholders a proposal to repay preference capital The company has £45,000 7 per cent, cumulative participating capital. Ordinary capital (4 £45,007. k T In his statement to stockholders Mr. A. hMathcwson, chairman of Allied Sumatra Plantations, London, disclosed that over 1,917,0001b rubber of this company's 1941 crop could not be got awny. It Is assumed, therefore, that this rubber, along with some 501,0001b crop in January, making a total of 1120 tons, was burnt in accordance with tho ofTlcia! scorched earth policy. No valuo was placed on any of >t »> tho company's accounts.