COMMERCIAL
PRIOE OF SILVER-, ' , {British Official Wireless.) Press Association—By Telegraph—Copyright ~RUGBY, Maj 19. ’ (Received May 20,, at noon.) Silver: Spot, 35d; forward, 35 3-16 d. • COLONIAL SUM COMPANY < TAXATION OF OONOO SHANES [Special to the ‘ Stak.’] AUCKLAND, May 20. • The announcement on behalf of the Commissioner of . Taxes that bonus shares recently distributed by the Colonial Sugar Co. Ltd. would be treated similarly to dividends—that is, as income for the purpose of income tax and unemployment taxation assessment —has caused much concern among shareholders of the company. Ibis rulihgiby the department, it was stated on Saturday, was more difficult to understand lowing to the unsuccessful attempts made to tax shareholders of the New Zealand Insurance Company on account of distribution from reserves in 1930; and again last year when it was proposed to tax capital premiums of the Government conversion scheme. The department’s latest ruling as it applies to the Colonial Sugar Company is felt to be a question for the shareholders to determine what action should be taken. - Last year a proportion of the Colonial Sugar Company’s dividend was exempt from taxation for unemployment purposes in New Zealand, as it had already been taxed in New South Wales. Information relating to this year’s proportion is being obtained from Australia for the benefit of shareholders. / ■' i FOREIGN EXCHANGES. . , (British Official Wireless.) I Press Association—By Telegraph—Copyright. : ~*EUGBY, May , 19. , (Received May 20, at 12.30 p.m.), The following ■ are the mean closing rates:— • Paris, franc to £1 ... 74 45-64 New York, dollar to £1 ... ... 4.92 i Montreal, dollat to £l ... 4.91 i Brussels, belgas to £1 ... ...... 29.05 Geneva, francto £1 ... .... ... 15.25 Amsterdam, florin to £1 7.27 Milan, lire to £1 ... ... ... ...58.13-16 Berlin, reichmarken to £1 12.22 Stockholm; kroner to £1 ... ... 19.39£ Copenhagen, kroner to £1 ... ...22 Oslo, kroner to £1 ... ... 19.90J-' Vienna, schilling to £1 ... ... ...261 Prague, kroner to £1 ... 118 Helsingfors, marks to £1 ... ...2261" ■ Madrid, peseta to £1 ... ... ...36:1-16 Lisbon, escudo to £1 ... ... ...110 Athens, drachmae ;to £1 ... ... 515 Bucharest, lei to £1 ... 482J' Belgrade,' dinars to £1 ... ... ... 217 Warsaw, slotys to £1 ... ... ... 25,87 Rio de Janeiro, pence to milreis 41 Buenos Aires, pence to dollar ... 361 •Montevideo, pence to dollar ...39? Bombay, pence to rupee ... ... Shanghai; pence to tael ... ... ' 5-16 Hongkong, pence to dollar ... ..-,25 13-36-Yokohama, pence to. yen ... ... 14 5 J Batavia, florin- to fii - ... ... ...7.20 ' " ‘Sellers. SALES'ON ’CHANGE—THIS DAY. Auckland.—King Solomon, 4s 2d; Dunlop, 16b 8d; Refrigerating, 29s 2d; Devonport Ferry, 22s 9d; Electrolytic Zinc and Pukemiro, 255; Gas, 28s 4d; Northern Roller Mills, 345: Colonial Sugar, £4l ss. ‘ Wellington.—Taupo , Timber (£1 paid, pref.), 18s 6d:- Mount' Morgan, £1 17s 6d. Christchurch.—Commercial Bank of Australia, 15s Cd; Anthony Hordern, 19s; Dunlop-Perdriau Rubber, 16s 8d : Electrolytic Zinc" (pref.), 355; 'Sun ’ Newspapers, 6s 3d (4), 6s 2d; Big River, 2s 4)d; Maori Guliy, Is 8d (2) ; Mossy Creek, ''2s 7d (2). dleportcd : Mount Morgan, 37s 4d. 7
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https://paperspast.natlib.govt.nz/newspapers/ESD19350520.2.96.2
Bibliographic details
Evening Star, Issue 22033, 20 May 1935, Page 12
Word Count
478COMMERCIAL Evening Star, Issue 22033, 20 May 1935, Page 12
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