COMMERCIAL

Evening Post, Volume CXXXVI, Issue 71, 21 September 1943, Page 6

COMMERCIAL

SHARE MARKET

WELLINGTON ' STOCK EXCHANGE. ,

First call today:—No. sales. Sales made after going to press yesterday:—£Boo-3& per cent. StocK/1958-57. £102.18s: 200 N.Z. Insurance, £4 ss; 150 McKenzle's-Dept. Stores, £2 7s 6d;. 66 Broken Hill Pty., £2 5s 3d.

P ' . AUCKLAND, This Day. "Sales.—Bank of New Zealand, 41s lOd; New Zealand Insurance. 85s; Taupo Totara Timber, 73 4d; Farmers' Auctioneering (£5 paid), aba; McKenzle's, 47s 6d; Newton King (pref.), cum div., 20s 6d; New Zealand Refrigerating, 265; New "Zealand Government 3 per cent. Stock 1954, £98; 1952-Ga, ex. interest, £97 12s 6d; 1 per cent., 1D46, £101 2s 6d. Noon call: Consolidated Brick, 9s 4a; Canterbury Frozen Meat, £14 17s 6d; N.Z. Government 3 per cent. Stock (1951-54), £98. CHRISTCHURCH, This Day. Sales: N.Z. Government 3 per cent. Stock (1933-56), £98. " . „, „. Sales reported: Standard Insurance, 74s 6d; Canterbury Frozen . Meat, £14 17s 6d.. SHARE BUSINESS BRIGHTER. (By Telegraph—Press Association— Copyright.) - \ SYDNEY, September 20. Business was a little brighter on the Sydney Stock Exchange today, with most transactions at ceiling prices. Sales Included: —Associated News, 17s 10% d; Selfridges, 21s 9d; Broken Hill South, 26s 9d;-Drug Houses, 29s 6d; Tooheys, Ltd*, 31s Gd; Oil Search, 3s 9d; Broken .Hill Pty., 40s; Placer Development, 60s 3d; British Tobacco, 47s 6d; Taubmans, 49s 6d. DOW JONES AVERAGES. (By Telegraph—Press Association—Copyright.) NEW YORK, September 18. Dow Jones averages (1926 equals 100): — 20 rail- 32 iridus- Shares roads. trials. sold. Sept. 2 ...... 34.55 v 137.11 290,000 Sept. 16 ...... 34.57 138.36 534.000 Sept. 17 ...... 35.07 139.60 894,000 Sept. 18 35.40 140.94 ' 686,000 INVESTMENT'TRUST'S YEAR. Australian Foundation Investment Co., Melbourne, reports for1 year ended' June 30 net revenue'£23,l37 (£24,567 last year). Dividend, is 4 per cent., unchanged, taking £21,600. Transfer to general reserve Is £2500, as last year, which stands at £25,000. Issued capital £540,000, revenue appropriation £26,561 (£27,524 last year). Taxation provision. £5742; external indebtedness, £133,424, including £119,182 bank overdraft. Investments at cost less fluctuation reserve, £716,417 —last year £711,873. Market value of Investments at June 30, 1943, was £701,367. against*- cost £761,442. At June 30, 1942, the market value was £534,586. and the cost £759,342. Cash at bank and on deposit, £6543. Net tangible backing of shares is 5s 4d for each 5s 6hare. Investments number 481, of which 77.2 per cent, are in Australia and New Zealand, 5.6 per cent. Great Britain, 13.9' per. cent. In the United States, and 2.6 per cent., in Canada, 0.7 per cent, being in other countries. The percentages of ■■ types of securities are bonds and debentures, 3.2 per cent.; preference shares, 9.9 per cent., and ordinary shares 86.9 per cent. A net loss of £2444 resulted from various changes made In investments during the year. COMMONWEALTH BANK. > The annual report of the Commonwealth Bank of Australia discloses that for the year ended June 30 profit from the general bank department, rural credits, and note Issue departments aggregated £3,165,118, as against £2,232,432 for 1941-42. Pro9t of the Commonwealth Savings Bank was £392,599, compared with £368,754; for 1941-42. The general banking department's .profit was £873,135; rural credits department, £.44,281, and the note issue department, £2,247,702. During the year deposits with the nine trading banks increased by over. £65,000,000, of C which.. slightly over £5,000,000 was in interest-bearing deposits. On. the other'hand,., advances and discounts continued to fall; the contraction ; for the year, being slightly over £22,000,000. Advances of over £ 68,000,000 were made to wartime marketing boards, and over £17,000,000 to exporters in respect of shipments under contract with the British Government. Mort's Dock and Engineering Co., Ltd., Sydney, net profit was £71,151 for the year ended June 30, compared with £72,993 for 1941-42. Dividend is unchanged at 8 per cent., and . £20,000 is added to reserves. Carry-forward is £26,349, against £27,198 brought-forward. I.CJ. DIVIDEND. The; local' office of Imperial Chemical Industries (N.Z.), Ltd.;': is advised by cablegram from London that the board ,of 1.C.1., Ltd., has declared an interim dividend of,, 3 per cent, on ordinary stock,. payable December 1 next. .