COMMERCIAL

Evening Post, Volume CXXXVI, Issue 65, 14 September 1943, Page 6

COMMERCIAL

SHARE MARKET WELLINGTON .STOCK EXCHANGE. Sales made today At.flrst caU: £8200 (t ' sales) 3 per cent. Stock,' 15/12/53-56, . £98. 200 Bruce Woollen, £1 10s; 50 Broken Hill Fty £2 5s 3d. Sales made after going to press yesterday: 150 McKenzles Dept Stores. £2 7s 6d; 200 Woolworths, Ltd. (cum alv.}, ISs; 200 Taranaki Oil Fields. 3s Cd. PA AUCKLAND, This Day. Sales (morning' call) : Bank of New Zealand (D Mortgage), 325;- Taupo Totara Timber (ex div.), 7s ad; JlcKenzie's, 47s 6d; KZ. Government Stock, 3 per cent. (1953-o6), £9S; Waitomo Power Board, 4 JA per cent. (19o6), £10S 10s. ■ _, „ Noon call: National Bank, 50s; Traders Finance (cont.), 5s Id; A.C.1., 565; VZ. Government 2Ms per cent. Stock (194<-49), £97. CHRISTCHUItCH, This Day. Sales: X.Z. Government 4 per cent. Stock (194G-49), £103 15s; Bank of New Zealand, 425; N.Z. Refrigerating (10s paid), 12s 4dSales reported: Bank of New South Wales, £34 2s Cd; N.Z. Government 3 per cent. Stock (1953-56), £93. Unlisted: Selfridges (N.Z.), Ss 9d. DUNEDIN, This Day. Sales reported: British Tobacco, 47s 6d; National Insurance, 245. RECORD DRUG SALES. Lord Trent, chairman," Boots Pure Drug Co., Ltd., informed shareholders . that "although our sales are easily a record and show the largest increase we have ever recorded, practically the whole of the profit on this mr creased business has gone in taxation." The past year had been an important one for the research department, as, in addition to the pooled research undertaken In conjunction with other members of the Therapeutic Research Corporation, they had done a great deal of work on medicinal, agricultural, and horticultural products. GOLD MINE DIVIDEND. , Cabled advice has been received from London that the directors of Komata Reefs "Gold Mining Co. have declared a dividend of 6d, per share, less British Income tax at 10s iii the £, for the year ended March 31, 1943, payable October 18. . , RESERVE BANK RETURN Details of the Reserve Bank of New Zealand return for the week ended September 6, 1943, compared with those for the week ended August 30, are :— Liabilities— £NZ £NZ General reserve 1,500.000 0 0 Unchanged Bank-notes ... 33,767,141 0 0 *427,058 Demand Liabilities, — State 15,793,506 12 1 *214,804 Banks 25,552,119 12 1 t2,336,484 . Other ...... 1,024,097 11 1 *267,733 Other currencies 14,925 3 3 t8,693 Other .liabilities 1,572,158 4 7 *8,472 £79,223,948 3 1 11,427,112 Assets— . SNZ fiNZ ReserveGold 2,801,877 10 0 Unchanged Ster. exchange 25,622,759 110 f1.364,985 Subsidiary coin 41,062 15 1 t2.503 Advances to State — Marketing .. 4,286,359 2 9 f513,292 Other purposes 33,735,000 0 0 *1,000,000 Investments . 10,319,648 17 Unchanged Other assets .. 2,417,241 11 4 f246,031 £79,223,94S 3 1 11,427,112 •Increase. tDecrease. , Proportion, of reserve to notes and other demand liabilities, 37.314. vper cent., compared with 35.376 per cent, for week ended August 30. 'The : small contraction iii1 the note issue by £3811, vreferred to. last week, has bee« more than. adjusted by an increase this week of £427,058. Sterling exchange (N.Z. currency) is reduced.by £1,364,985, and there has been an increase in advances to the Government of £1,000,000. Principal figures in the -return for September 7, 1942, were:—Bank-notes, £26,884,279; demand liabilities to State, £11,115,765, and to tho banks £21,134,104; sterling exchange (X.Z. currency), £25,677,750; advances to Marketing Department, £6,103,778, and other advances to the State, £22,300,000; investments, £4,146,340'; reserve to liabilities, 47.650. WHjSKY POSITION SURVEYED. Lord ..Forteviot, chairman of the Distillers Co., Ltd., Edinburgh'l, fold shareholders at their C6th general meeting that "with regard to the current financial year, I caiuonly say that it is impossible to give any-indication of the prospects." Prior, to this.he said that grain distillers, due to Government decree, were idle throughout the year, but malt distillers were allowed a restricted production, and he added: ? "There is no prospect of distilling—either grain or malt —during the > current year, as after a review of the cereals position the Minister of food has decided that no material, can be made available from : the 1943 harvest-" for such a purpose." However, the company's stocks should, with care, be capable of bridging the gap until resumption of normal distillation. The duty on whisky was raised this year by 20s, bringing it up to ,157su6d per proof gallon. This necessitated an adjustment of the prjee per bottle 0f."25s 9d for standard brands. While at the present time a bottle of whisky would sell in the home market at that price, yet taking a long view, Lord Porteviot said, "there is no doubt that-the position is alarming. If the duty is not substantially lowered when the present national emergency ends the home trade will be seriously reduced, with & consequential effect on the ..export trade." The company's other interests include manufacture of yeast specialties, chemicals, and plastics. The company's holdings in gilt-edge securities amount to £13,000,000.