COMMERCIAL

Evening Post, Volume CXXXIX, Issue 48, 26 February 1945, Page 6

COMMERCIAL

SHARE MARKET. P.A. AUCKLAND, This Day: Morning Sales.—National Bank of New Zealand, 52s Gd; South British Insurance, 79s 3d; Auckland Gas, 7s 7d: Australian Consolidated Industries, 56s 3d; Silknit, 25s 9d; Mt. Morgan, Os 4d; N.Z. Government Stock, 4 per cent., April, 1046-49, £102. Xoon Call.—Bank of New Zealand, 46s 9d; New Zealand Insurance. 90s. CHIUSTCHURCH, This Day. Sales on 'Change.—N.Z. Government Stock, 3 per cent., 1951-54, £98. Sales reported: N.Z. Government Stock, 2 1/. per cent., 1947-49, £96 I 17s Cd.

DUXEDIX, This Day Reported Sale.—Mosgiel Woollen, £14 ss.

M.K. MANUFACTURERS, LTD. ) The accounts of M.K. Manufacturers, Ltd., for the year ended December 81 show a profit, of £28.210, which compares with £20,343 the previous year and £25,5;>8 in 1942. With £0232 brought forward, there is a credit of £34.442. The directors recommend payment of a dividend of 6 per cent, (unchanged), requiring £225", transfer 'to taxation reserve £2].568, transfer to reserve against goodwill £3974, leaving £0343 to be carried forward.

FEDERAL DISCOUNT RATE. The Commonwealth Treasurer (Mr. T. B. Chiftey) his been informed by the chairman of the Commonwealth Bank Board that, from March 1, the bank would be prepared to discount Treasury bills at 1 per cent, per annum, a new low level. The reduction is one-quarter of 1 per cent., the previous rate of 1%, per cent, hating operated since November, 1943. It is the third cut since the war began. On the basis of a total holding by the trading banks of £G5,000,000 of Treasury bills, the latest available figure, the reduction In the rate would mean a difference of about £160,000 a year in the bank's earnings from this source.

MOUNT MORGAN OPERATIONS. Mt. Morgan reports that the estimated net loss from mining operations for the week ended February 11 was £778. In arriving at the net loss all overhead expenses have been included but no provision has been made for depreciation. Capital expenditure for the [period amounted to £3772, which included £357 on mine preparation.