BRITISH STOCKS DULL

Evening Post, Volume CXXXVI, Issue 63, 11 September 1943, Page 9

BRITISH STOCKS DULL

(By Telegraph.—Press Association—Copyright.)

LONDON, September 9

The market for British Government stocks is dull, but that for Australian and New Zealand stocks is firm, and business is fairly active. Prices compared with those of last week are as follows:— Sept. 2. Sept. 9. Consols, 3V 3 p.c t79% 79 Fund. Loan, 60-90 /1.. 114V 2 114? i War Loan, 4»/ a p.c. .... 103% 103% Cony. Loan, 61, SYz P.c. 103 13-16 103% Victory Bonds. 4 p.c. .. 112 15-16 112 13-10 N.Z., 49-53. 41/2 p.c. .. 103 7-16 103>/ 2 N.Z., 1953, 3 p.c. t!>9 99-11-16 tEx interest. Consols at August 26 were 8.0, 4% p.c. Wir Loan 103%. 41/2 p:c. N.Z., 103%, and 3 p.c. N.Z. 100.

N.I.M.U. INSURANCE BUSINESS.

Net premium income of the N.I.M.U. Insurance Company for the year ended June 30 was £176,810, against £144,343 for the previous year. The directors report that the increase was mainly due to the increased volumo of nominations under the Motor Vehicles Insurance (Third Party Risks) Act. 1925. Claims paid totalled, £04,117. against £94,985. The ratio of claims to net premiums was 36.3 per cent., an extremely low figure, due to war conditions. Ratio of working expenses to net premiums was 26.3 per cent. Unexpired risks reserve amounts to £88,405. Surplus for the year was £57,478, against £48,798. This has been allocated as follows: —Special cash rebate, 1942 (additional to £36,000). £1359; special cash rebate, 1943, £45,000; taxation reserve, £5000; repatriation reserve, £1000; fidelity guarantee reserve, £150; accumulated profit. £4969. Directors retiring by rotation are Messrs. J. H. Kdmundson (Hawke's pay), A. J. Curtis and Dr. J. H. Graham Robertson (Wellington).

NEW COMPANIES.

Registration of new private companies Is reported by the "Mercantile Gazette" as follows:

Jones Timber Co., Ltd., Lower Hutt. Capital: £1000 into 1000 shares of £1 each. Objects: Timber merchants, sawmill proprietors, and incidental.

N.Z. Raincoats Ltd., Wellington. Capital: £1000 into 1000 shares of £1 each. Subscribers —Wellington: C. E. Stroobant 750, G. J. Stroobant 250. Objects: Dealers in waterproof materials, raincoats, and clothing and incidental.

Cell-Concrete (N.K.) Ltd., Wellington. Capital: £5000 into 5000 shares of £1 each. Subscribers—Wellington: J. A. Higgs 4500, D. E. Sutherland 450. Lower Uutt: K. M. Higgs 50. Objects: Manufacturers of cell-concrete for use as building material or as insulating material for freezing chambers and incidental.

Belhvood Builders Ltd., Island Buy, Wulling ton. Capital: £100 into 10 shares of £10 each Objects: Builders, joiners, contractors, and incidental.

MEETING THE RUBBER PROBLEM

Notable progress towards realisation of the U.S. Government's huge synthetic rubber programme is reported by William M. Jeffers, Rubber Administrator. Completed synthetic plants have a capacity of 252,000 long tons, or 30 per cent, of the projected total. Actual production of synthetic rubber in the first quarter of this year amounted to 10,478 long tons, not far below the estimate of 11,200 tons. By next year, it is reported, all planned synthetic rubber plants will be in operation, providing more than 730,000 tons of crude equivalent. .This supply is expected to be supplemented by at least 71,000 tons of imported natural rubber. The United States' total requirements for this year are placed at 609.000 tons, showing no substantial change from earlier estimates. By 1944 the United States wiii have gone two years with less than one-quarter of normal replacement of tyres and no new cars. This accumulated deficit is taken to indicate a probable tninimium replacement need of 30,000,000 tyres, even with the continuance of present conservation measures.

CAPEL COURT LTD

Capel Court Ltd., Melbourne, for the year to June 30, showed net profit £1095, after provision of £2615 for rates and taxes. Fo Jtho preceding year profit was £1797 (rates and taxes £2030). Rents and other income amounted to £12,027 (£11,835). Dividend of 3 per cent, absorbs £1410. the carry forward being £463, as against £380 brought in.

MILBURN LIME DIVIDEND.

DUNEDIN, September 10

At the annual meeting of the Milburn Lime and Cement Company on September 28 the directors will recommend a dividend of 2V 2 per cent, for the six months, making 5 per cent, for the year.

Pleading guilty in the Magistrate's Court yesterday to wilfully damaging the window of a house in Daniell Street by throwing a stone through it, Graham Lindsay, 17, was convicted by Mr. J. L. Stout, S.M., and ordered to come up for sentence if called upon within three months, on condition that he pays 30s for the damage done.