COMMERCIAL

Evening Star, Issue 20320, 31 October 1929, Page 9

COMMERCIAL

THE SHARE MARKET DUNEDIN STOCK EXCHANGE. Kildares provided further business on the exchange this morning—namely, five sales at 3s Id and one at 5s 2d. The closing quotations were: Buyer 3s 2d, seller 3s 3d. This represents a sharp recovery from yesterday’s prices, when sales were made as low as 2s 8d and 2s 7d. The market generally was quiet, though quotations were more numerous than usual. Quotes wore made for nearly all banking stocks, but the difference between buyers’ and sellers limits . prohibited business. Commercial Banks were wanted at 25s 9d, but the seller’s price was 26s 9d. Nationals were on offer at £6 15s, but were refused thereat, the buyers offering £6 13s. Westport Coals were on offer at 34s fid, but there was no buver. Now Zealand Drugs were for sale at”74s fid without result. New_ Zealand Breweries were offered for realisation at 88s, fid, but met with no response. Thirteen and fourpence was offered for Waihis, but there was no seller. The dividend of Is in this company is payable to-morrow. Government Stocks found the usual steady inquiry, but sellers were in evidence in only a few cases. Sales on ’ChangeKildare, 3s Id (five), 3s 2d. Quotations as under.—

SYDNEY WOOL SALES. Press Association—By Telegraph—Copyright SYDNEY, October 30, At the wool sales 9,409 bales were sold in a very firm market, with prices at the best point of the series. There was special inquiry for superfine > wool, and competition was animated, with excellent clearances. Greasy merino brought to 24§d. COLONIAL SUGAR COMPANY.. Press Association—By Telegraph—Copyright. SYDNEY, October 30. The half-yearly report of the Colonial Sugar Refining Company, Ltd., which was issued to-day, revealed that the sum earned from trading and investments during the last half-year amounted to £465,493, of which £265,747 was made from Australian mills and refineries, and the remainder (£199,746) from New Zealand and Fiji, which is not subject to Federal income tax. The board proposes to pay a dividend of 20s and a bonus of 5s per share, which will absorb £365,625. The amount left to the credit of the profit and loss account is £410,776. The report states that there has been no increase in the consumption of sugar, either in Australia or New Zealand. The total output of sugar for the six months is about 600,000 tons. The report adds: “Presumably no action will be taken in England concerning the proposed abolition of the sugar duties until the whole question is fully considered, but the loss of the preference allowance would be a serious thing for the. sugar producers of Australia, while any alteration in Canada similar to that suggested in Britain would be sorely felt in Fiji.” LONDON MARKETS. Messrs Dalgety and Co.. Lid., have received the following cable from London. dated October 29 :—At te-mor-row’s tallow sale it is expected that if any change in prices takes place it will be in favour of buyers. Prices are Is per cwt higher for New Zealand cheese, but there is little activity. OTAGO MUTUAL STARR-BOWKETT SOCIETY. A meeting of members of the Otago Mutual Starr-Bowkett Society was held in the society’s registered office last night. Mr J. H. Wilkinson presided. The Chairman stated that the business of the meeting was to dispose of a premium loan of £SOO in the jNp* 2

group and a free loan of £SOO in the No. 3 group. The premium loan in the No. 2 group was drawn by cluster 252, held by one shareholder. The free loan in the No. 3 group was drawn by cluster No. 155, held by two shareholders. The chairman urged members to induce their friends to take up shares in the tiew No. 4 group, which was filling satisfactorily. CEYLON TEA SALES. The quantity offered at last Tuesday’s auction in Colombo totalled 1.900,0001 b. Quality was again inferior. Commonest kinds were slightly easier, but, quality considered, the market for other grades was strong. Next week’s catalogues will approximate 2,100,0001 b, NATIONAL INSURANCE COMPANY. The annual report of the National Insurance Company of New Zealand, Ltd., shows that the not income for the year ended September 30, 1929, amounts to £288,133 9s lid. After making full provision for losses outstanding and adding £2,500 to the reinsurance reserve, there is an underwriting, surplus of £16,686 Is 2d. Interest and refits, less income tax, amount to £35,264 4s, and the balance brought forward from last year £36.429 10s, amounting m all to £88,379 15s 2d. An interim dividend was paid in May, 1929, which absorbed £16,666 13s 4d, leaving an available balance of £71,718 Is lOd. The directors have added £5,000 to the reserve fund, £2,390 17s to the taxation and contingency account, and £5,980 9s 2a to the investment and fluctuation account, and now recommend the payment of a further dividend of od per share (making the total distribution for the year 9d per share), which will absorb £20,833 6s Bd, and the carrying forward of £37,508 9?.-.

Buyers. Sellers. £ s. d. S B. d. BANKING— Australian Bank of Commerce — X 11 0 Bank of Australasia 13 9 0 15 16 0 Bank of N.Z ■ — 3 0 6 Bank of New Zealand Long “ D ” 1 S s — 9 Commercial Bank ... 1 5 9 1 e Commercial Bank of Sydney ... —- 24 10 0 National Bank of New Zealand 6 13 9 6 15 b National Bank of Aus9 tralasia (cont.) — 0 0 INSURANCE— National Insur. Co. ... 0 IS 4 0 16 8 N.Z. Insurance Co. — 2 6 9 South Brit. Insur. Co. 3 6 0 Standard Insurance Co 3 5 0 SHIPPING— Huddart, Parker (ord.) - ♦— 2 5 9 Huddart, Parker (pref.) 1 0 e X U.S.8. Co. (pref.) 1 0 6COAL— Pukemiro Collieries... 3 s 6 — Westport Coal Co. ... 1 14 6 LOAN AND AGENCYDalgety and Co. ... 13 10 0 14 0 0 National Mortgage ... — 4 6 6 Perpetual Trustees ... 3 8 0 — Trustees, Executors ... 3 0 0 — MEAT PRESERVING— Gear Meat Co 2 3 0 3 4 3 N.Z Refrigerating (paid) — N.Z. Refrigerating 0 14 0 (cont.) 0 5 9 0 6 0 Southland Frozen Meat (ord.) ... — s 0 0 MISCELLANEOUS— Brown, Ewing (ord.) 1 10 0 Brown, Ewing (pref.) 1 0 3 Bruce Woollen Co, (ord.) — 0 IS 3 Colonial Sugar Co. ... D.I.C. (ord.) 54 15 0 0 12 C — D.I.C, (pref.) 1 1 6 — Dunlop Rubber — 1 6 9 Eclipse Petrol (paid) —• 0 15 0 Kaiapoi Woollen (ord.) ... 0 15 9 Kaiapoi Woollen 0 6 (cont.) 3 0 4 0 Kaiapoi Woollen (pref.) 0 14 6 0 15 6 Mifburn Lime and Cement (ord.) — 1 17 9 National Electric — 0 11 0 N.Z. Drug Co — 5 14 6 N.Z. Paper Mills ... 1 0 0 — N.Z. Sugar of Milk — 1 0 9 ‘ Otago Daily Times ' — 3 13 6 Whitcombe and Tombs 3 10 0 — BREWERIES— N.Z. Breweries, Ltd. — 4 8 6 N.Z. Breweries Debs. — 1 9 3 Staples* Brewery ... 2 15 0 — Dunedin Brewery ... — 1 14 0 GAS— Auckland Gas ... 1 4 6 Christchurch Gas — 1 7 6 MINING— Kawarau ... ... ... 0 0 S 0 0 7 Waihi 0 13 4 — Paddy’s Point — 0 5 6 Stoney Creek Dig Beach ... 0 0 0 4 sp.o 0 0 n Kildare — 0 3 2 0 3 3 Okarito ... 0 1 Op — Winding Creek 0 0 8p — Ohinemuri — 0 10 3 WAR BONDS (Bonds quoted are £100 Bonds)— 1938 p.c. Bonds 100 0 0 1939 p.c. Bonds ... 100 0 0 1938 4J p.c. Inscribed 100 0 0 — 1939 4i p.c. Inscribed 100 0 0 — 1941 4£ p.c. Bonds ... 1941'54 p.c. Inscribed 100 0 0 — 90 5 0 — 1930 p.c. Bonds ... 09 5 0 —