COMMERCIAL

Evening Star, Issue 21091, 2 May 1932, Page 5

COMMERCIAL

THE SHARE MARKET DUNEDIN STOCK EXCHANGE. There were no sales effected on ’Change, nor were there any reported sales at the meeting of the Dunedin Stock Exchange this morning. Following the announcement by tho Bank of New Zealand that the usual dividend would be paid, buyers offered 445, which is an increase of Is on Saturday’s qutoation. There were no other charges in the banking section. Owing to the uncertainty regarding the Government’s taxation of preference shares, buyers during the last week were scarce, and this applies also to Union Steam Ships, which have always been in demand. In tho miscellaneous section £2O was offered for M’Leod Bros.’ ex div. without attracting a seller. Crystal Ice shares have buyers at 23s 9d, with sellers quoting very wide at 30s. The buying bid for ‘ Otago Daily Times’ improved slightly from 34s to 35s Gd. No change was apparent in tho Okarito quote following the announcement of tho return. In the bond section practically all issues of Government stocks were inquired for, but no sales were effected. Quotations at under:—

DIVIDENDS DUE. Stock. Amount. Period. Date. E.S. and A. Back Is 9 3-5 d interim May 2 Waihi Is final May b Moagiel Woollen Co. 3« 22-5 d interim May 12 National Insurance 4d interim May 16 N.Z. Paper Mills 9 5-5 d final May 19 National Bank Aust. (£lO paid) 6s final May National Bank Aust. (£5 paid) 3s final May FOREIGN EXCHANGES. (British Official Wireless.) Press Association—By Telegraph—Copyright. RUGBY, April 29.

COTTON, RUBBER, ETC. Press Association —By Telegraph—Copyright LONDON, April 30. Friday’s closing prices were as follow : Cotton: June, 4.46 d per lb. Rubber: Para, Sgd; plantation, smoked, 2d. Jute: May-June, £l6 12s 6d. Copra: May-June, South Sea, £l4 15s; plantation Rabaul, £l4 17s 6d. Linseed oil, £ls. Turpentine, 57s 9d. SYDNEY STOCK EXCHANGE. Preos Association —By Telegraph—Copyright. SYDNEY, April 30. On the Stock Exchange the morning sales were as follow :—Bonds: Four per cent., 1938, £95 2s 6d; 1947, £9O 7s Gd; 1947, £B9 10s. National Bank', £5 8s; Bank of New South Wales, £2B; Australian Gas (A), £5 4s; Colonial Sugar, £42 os; Goldsbrough, Mort, 24s ,6d.

BANK OF ENGLAND. THE FIDUCIARY ISSUE. (British Official Wirelesi.) Press Association —By Telegraph—Copyright. RUGBY, April 29. On the application of the Bank of England, a Treasury minute has been signed maintaining the amount of the fiduciary issue at the existing figure of £275,000,000 for a further period until June 30. > The Treasury, in the exercise of the option reserved in the prospectus of the issue, will give notice in to-night’s ‘ Gazette ’ that the 4 per cent. Treasury Bonds (1931-1933) will be repaid at par on August 15 next, with four months’ interest to that date. The interest on the bonds will then cease. CUSTOMS RETURNS. WELLINGTON. The net Customs duty collected at the port of Wellington this month shows an increase of £3,800 15s over the figures for April, 1931. Beer and tyre duties this month, however, are below' tho returns for the corresponding month of last year. The figures are as follow, together with those for April, 1931:

The net petrol duty for April, 1932, at 6d per gallon, was £38,441 19s lOd, and at 2d per gallon £12,805 6s Bd. The net petrol duty in April, 1931, all at Cd a gallon, was £45,715 6s 2d. CHRISTCHURCH. For the month of April, as compared with April, 1931, the Customs duties in Christchurch showed an increase qf £590, and the beer duty increased by £628. The motor spirit tax showed a reduction of £4,502. The figures are:—

For the calendar year the figures are: —Customs, £248,002 (£251,293); beer duty, £25,792 (£23,993); motor spirit tax, £69,531 (£78,759); tyro duty, £3,965 (£6,244). IMPERIAL CHEMICAL INDUSTRY. Imperial Chemical Industries Ltd., £77,000,000 holding company, with which is associated Imperial Chemical Industries of Australia and New Zealand Ltd., Melbourne, exhibits in its preliminary accounts for the year 1931, when they are compared with the 1930 figures, a decline from £5,129,757 to £4,608,685 in gross income, and from £4,473,392 to £3,408,290 in net profit. The directors say in their report that income for the year, together with the balance brought forward from 1930 of £053,483, amounts to £5,322,168, and after allocating £1,000,000 to central obsolence fund, compared with £500,000 for 1930, and providing £260,395 for income tax, the total profit available is £4,061,773. After providing £1,583,416 for the dividend on the preference shares and £653,844, equivalent to li per cent, interim dividend, on the ordinary shares paid on December 1, 1931, the directors have decided to recommend a final dividend on the ordinary shares, less income tax of 3 per cent, (actual), making 4J per cent, for the year, and aborbing £1,307,688. This leaves a balance of £516,825 to be carried forward. As under the articles of association the deferred shares do not rank for dividend until the ordinary shares have received 7 per cent., no dividend is payable on this class of shares. Ordinary dividend for 1930 was 6 per cent. Capital issued consists of £43,589,600 in £1 ordinary shares, £22,640,313 in £1 cumulative preference 7 per cent, shares, and £lO,868,260 in 10s deferred shares. SOUTHERN PORTLAND CEMENT. Speaking at the annual meeting in Melbourne of shareholders of Southern Portland Cement Ltd., the chairman (Mr O. H. Hoskins) referred to the fact that the amount of profit had been considerably less than lat year, owing to the decreased demand for cement. “At the moment,” he said, “there does not seem any prospect of improvement in this regard in the near future.” Mr Hoskins added 'that the Moss ValePort Kembla railway line would be opened for traffic next June. This would result in a considerable saving in freight on cement shipped at Port Kembla to other States. THE MEAT MARKET. Press Association —By Telegraph —Copyright. LONDON, April 30. New Zealand sheep: Canterbury and North Island selected cross-bred wethers and mai,den ewes, 481 b to 561 b, 4Jd; ditto, 571 bto 641 b, 4d; ditto, 651 b to 721 b, 3Jd; North Island ditto, 481 b to 561 b, 4Jd; ditto, 571 b to 641 b, 4d; ditto, 651 b to 721 b, 3jd; ditto ewes under 481 b, 3|d; ditto, 481 bto 641 b, 3id; ditto, 651 bto 721 b 2|d. Australian sheep: First quality crossbreds and/or merino wethers, 401b'to 651 b, 3|d; ditto second quality, 301 b to 551 b, 3|d; ditto ewes, 301 bto 551 b, 3id. Argentine sheep: First quality crossbred wethers, 481 b to 641 b, 4d; ditto, 651 b to 721 b, 3Jd; ditto, over 721 b, none offering. Patagonian sheep: None offering. New Zealand lambs: Canterbury, 361 b and under, 7£d; ditto, 371 b to 421 b, 6Jd; ditto, 431 b to 501 b, 63d; ditto second quality (average 301 b), 6|d; other South Island brands, 361 b and under, 7d; ditto, 371 b to 421 b, 6gd; ditto. 431 b to 501 b, 6£d; ditto, selected Nortn Island brands (including Downs, 361 b and under), 7|d; ditto, 371 b to 421 b, 6gd; ditto, 431 b to 50lb, 6fd; ditto, second quality (average 301 b), 6|d: other North Island brands, first quality, 361 b and under, 6|d; ditto, 371 b to 421 b. G£d; ditto, second quality, average 301 n, 6Jd.

Australian lambs: Victorian first quality, 361 b and under, 61d; ditto, 371 b to 421 b, 5Jd; other States, first quality, 361 b and under, 53d; ditto, 371 bto 421 b, 5 Jd; ditto, Victorian second quality, 361 b and under, 6d; other States, second quality, 361 b and under, s|d; all States, third quality, 6R •

Argentine lambs: First quality, 361 b and under, 5Jd; ditto, 371 bto 421 b, sid; ditto, 431 b to 501 b, 6d. New Zealand frozen beef' and Australian frozen beef; None offering. Argentine chilled beef: Ox fores, 1601 bto 2201 b, 4d ; ditto hinds, 1601 bto 2201 b, sgd. New Zealand pigs : First quality, 601 b to 1101 b (average 901 b), 5Jd; ditto, 1111 b to 1201 b, 5R Australian pigs: First quality, 601 b to 1101 b (average 901b),' 5Jd; ditto, 1111 bto 1201 b, 5R .

GOLDEN DAWN RETURN. The secretary of the Golden Dawn advises as follows: —“ Further recovery of £129, making total £969 standard values.” This is actual bullion, and represents approximately 2420 z, worth at to-day’s London prices approximately £1,369. The return is from 398 tons treated for fifteen days to 18th ult. OKARITO RETURN. Messrs W. A. Mitson and Co., secretaries of the Okarito Five-mile Beach Gold Dredging Company Ltd., advise that the wash-up for the week ended Saturday, April 30, was 51oz 4dwt for 112 hours’ dredging time. The dredge was not operating on Anzao Day. The following report relates to the four weeks from March 26, 1932, to April 23, 1932 :—Total gold won, 2350 z; total time worked, 462 hours; total nonworking time, 114 hours; total yardage treated, 27,500 (an average of 59J cubic yards per hour) ; average value of ground (on basis of gold worth £4 per oz), 8d per cubic yard. MOTUROA OILFIELDS LTD. At the meeting of the Dunedin Stock Exchange this morning the following telegram was received from Moturoa Oilfields Ltd.:—“ The results of the last two weeks ended April 23 were 140 barrels, per week, and for the week ended April 30 145 barrels. The total flow since August 1 has exceeded 4,600 barrels, equalling 161,000 imperial gallons. The value is £2,683.

Buyer*. Seller*. £ >. d. £ I. d. BANKING.— Book of N.S.W. ... as 0 0 Bank of N.Z. ... ... 2 7 0 2 4 6 Bank of New Zealand (Long “ D ”) 1 5 9 Commercial Bank ... 0 13 7 0 13 10 E.S. and A. Bank ... — 4 4 0 National Bank of Now Zealand 3 10 0 National Bank of Australasia 9 10 0 10 0 0 Union Bank of Australia Ltd 6 12 0 INSURANCE — National Insur. Co. ... 0 11 8 N.Z. Insur. Co. 2 5 0 2 7 6 Standard Insur. Co...i 1 14 0 — SHIPPING.— Huddart, Parker (ord.) 1 1 0 U.S.S. Co. (pref.) ... — 1 0 3 COAL.— Kaitangata Coal 0 1 Od Westport Coal Co. ... ‘ 0 18 0 — LOAN AND AGENCY.Dalgety and Co. ... 7 1 0 National Mortgage (“ B ” issue) 0 17 0 Wright, Stephenson (pref.) _ 0 15 3 MEAT PRESERVING.— Canterbury Heat Co. (ord.) 2 15 0 N.Z. Refrigerating (cont.) 0 3 8 0 4 2 South Otago Freezing 2 0 0 MISCELLANEOUS.— Crystal Ice Co 1 3 9 1 10 0 D.I.C. (ord.) ... ... — 0 12 3 Kaiapoi Woollen (ord.) 0 5 3 0 6 3 Milburn Lime and Cement 1 6 0 Mosgie! Wool. Co. ... — 7 5 0 M‘Lood Bros, (ox div.) 20 0 0 N.Z. Drug Co. 2 5 6 — N.Z. Farmers’ Fertilisers ... 0 12 0 0 13 0 N.Z. Paper Hills 0 18 6 0 19 3 ‘ Otago Daily Times ’ 1 15 6 1 18 0 BREWERIES.— N.Z. Breweries Ltd.... 1 3 3 Dunedin Brewery — 1 0 0 MINING — Waihi 0 16 9 Electrolytic Zinc (pret.) ' _ 0 19 9 Mount Lyell — 0 18 9 Hahakipawa — 0 0 4i Kildare 0 1 15 Okarito ... 0 9 0 0 9 3 Consolidated Goldfields 0 2 6 Paddys Point , 0 3 0 0 3 8 Cornish Point (paid) . _ 0 0 2 Golden Progress ... —■ 0 2 8 King Solomon 0 1 0 0 1 5 Golden Point 0 0 5 0 0 7 Blackwater 0 6 9 Gilespio’s Beach ... par 0 0 3p WAR BONDS— ■ Bonds quoted are £100 Bonds) 1933 41 p.c. Bonds ... — 95 0 0 1939 41 p.c. Bonds ... 92 0 0 93 0 0 1938 4i p.c. Insc. ... — 95 0 0 1939 41 p.c. Insc. 92 0 0 93 0 0 1933 54 p.c. S.S Bonds 98 10 0 — 1933 5i p.c. S.S. Insc. 98 10 0 — 1941 5i p.c. Insc., ... 95 10 0 — 1936 5i p.c. Bonds ... 99 0 0 — 1936 5i p.c. Insc, 99 0 0 — 1933 51 p.c. Bonds ... 98' 0 0 — 1933 5l p.c. Insc. 98 0 0 — 1937 5i p.c. Bonds (Feb.) 99 0 0 1937 5i p.c. Bonds (Sept.) 99 0 0 . 1937 Si p.c. Insc. (Feb.) 98 15 0 99 15 0 1927 5J p;c. Insc. (Sept.) ... 98 15 0 99 10 0

Paris, f'nnc to ,£1 April 28. ... 92| April 29. 92J Brussels, belgns to £1 ... 26} 26f Oslo, kroner to £1 ... i9.ro 19.70 Stockholm, kroner to £1 ... ... 19 13-16 19 15-16 Copenhagen, kroner to £1 ... 18.25 181 Geneva, franc to £1 ... 18.85 18 13-16 Berlin, rcichmarkcn to £1 ... 15* 15.371 Montreal, dollar to £1 ... ... 4.11 4.09 ' New York, dollar to £1 ... ... 3.63J 3,651 9.021 Amsterdam, florin ,o £1 ... ... 9.023 Milan, lire to £1 ... 71-i 71 Prague, kroner to £1 ... 1231 1331 Vienna, schilling to £1 ... ... 32 ‘ 32 Helsingfors, marks to £1 ... ... 215 215 . Madrid, peseta to £1 ... 463 46 9-16 Athens, drachmae to ... ... 290 - Lisbon, escudo to £1 ... no no Bucharest, lei to £1 ... 610 610 Rio do Janeiro, nonce to milreis 4S 4| Buenos Aires, pence to dollar ... 363 361 Montevideo, pence to dollar ... 30 30 Shanghai, pence? to tael ... ... 201 20j Yokohama, pence to yen ... ... 211 21 5-16 Hongkong, ponce to dollar ... 15 3-16 15 3-32 Bombay, pence to rupee ... 17 31-32 17 63-64 Batavia, florin to £ 1 ... 9.06 —

April, April, 1932. 1931. £ £ Customs duty .. . 185,301 181,500 Beer duty 4,635 4,904 Tyre duty 1,990 2,510

April, April, 1932. 1931. £ £ Customs ... ... 61,901 62,551 Beer duty 6,538 5,910 Motor spirit tax 16,906 21,408 Tyre duty 984 1,040