Commerce, Mining, & Finance

Evening Star, Issue 22327, 1 May 1936, Page 7

Commerce, Mining, & Finance

CUSTOMS REVENUE RETURNS FOR APRIL RELATIVE DECREASE REVEALED A decrease in Customs revenue, beer duty, petrol tax, and tyre tax, compared with the corresponding period last year, is revealed in the April Customs' returns. Sales tax revenue was higher, the amount collected (£22,031) being £2,687 in advance of the revenue obtained last April. The respective Customs revenue totals for the month were £49,619 and £52,669 —a decrease of £3,050, while the drop in the beer duty amounted to £1,537, the figures for the past month being £17,006. compared with £18,543 in April, 1935. There was a drop in petrol tax from the amount collected in April, 1935, the figures for the month just ended being £11,959, and for the corresponding month last year £16,125. The returns also show a decrease in tyre tax, £BB7 having been collected in April of last year, compared with £417 during the month ended yesterday. The following are the returns for April, shillings and pence omitted, together with the comparative figures for the corresponding month of last year:— Apl. 1936. Apl.. 1935. £. £. Customs duty ... 49.619 52,669 Beer duty 17.006 18,543 Sales tax 22,031 19,344 Petrol tax at 6d per gallon ... 11,959 16,125 Tvre tax 417 887 Gold duty 1,661 2,189 CHRISTCHURCH An indication of the continuance of the trade revival is given in the Customs returns for the last month. The figures for the month were as follow: — Apl.. 1936 Apl.. 1935. £. £. Customs 87,916 71,324 Sales tax 29,032 25,045 Beer duty 6,562 8,313 Petrol tax ... 20,481 19,702 Tyre duty ... 832 1,147 WELLINGTON The Customs revenue collected at Wellington in April totalled £276,460, compared with £207,431 in April, 1935. There has been an increase of £69,029 for the four months of the current year. Net revenue totals £1,016,496, compared with £829,623 for the corresponding period of 1935. The duty collected on motor spirit in April totalled £62,573, compared with £60,566 for April, 1935. For the four months the figures are £308,720 and £246,381 respectively. Collections of tyre tax totalled £1.892, compared with £1,769 in April, 1935. For the four months the figures are £6.801 and £7,894 respectively. Collections of sales tax in April totalled £92,173, which establishes a new record by nearly £9,000, compared with £71,937 for April, 1935, an increase of £20,236. The total for the four months was £321,387, against £261,365 last year. Beer excise collections for April totalled £4,789, compared with £5,234 for April, 1935. For the tour months the figures are £19,919 and £18,926 respectively. AUCKLAND An increase of £48,672 is shown in tlie Customs duty collected at Auckland in April compared with April, 1935. the total being £260,448, as against £211,776. The figures for the four months of the present year also show a marked advance when compared with the corresponding period of 1935, the increase being £177,702. Increases have been recorded each month this year. In the combined collection of motor spirit and tyre duties the return in April was £55,154, an increase of £4,244 on that for April, 1935. The receipts of £284,347 for the four calendar months were higher by £79,583 than those of' the corresponding period last year. Excise on beer showed increases both for the month and for the four-monthly period. Sales tax collected in April amounted to £69.224, compared with £56,035 in April, 1935. The year’s total to date is £253.239, an advance of £40,194 over the corresponding figures for last year. IMPORTATION OF WOOL PACKS [Per United Press Association.] WELLINGTON, April 30. Prohibition of the importation into the Dominion, save with the permission of the Minister of Customs, of wool packs and wool pockets is gazetted tonight in the form of an Order in Council. ANGLO-SOVIET TRADE ORDERS PLACED IN BRITAIM The U.S.S.R. trade delegation in Gfeat Britain reports as follows:—. The orders placed in Great Britain in February of this year amounted to £845,079. The table below shows the value of each category,of goods purchased in the period under review:— Machinery and equipment, ■ £12,865; non-ferrous metals, £199,599; textile raw materials, £232,405; rubber, £248,066; chemicals, £35,797; tea, £101,219; miscellaneous, £18,833; a total of £848,784, less cancellation of ferrous alloys and steel orders pre- \ iously placed, £3,705. The items which show increased purchases are textile raw materials, rubber, and chemicals.

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, April 30. Steadiness of prices was a feature of the dealings on the Stock Exchange today. There was a moderate turnover and profit-takers caused an easing of prices in Australian Glass and British Tobaccos. AFTERNOON SALES.

THE RESERVE BANK i •< WEEKLY SUMMARY [Per United Press Association.] WELLINGTON, April 30. The ‘Gazette’ issued to-night contains the following statement of the liabilities and assets of the Reserve Bank of New Zealand as at the close of business on Monday, April 27. The figures at the close of last week are given for the purposes of comparison, shillings and pence being omitted: — LIABILITIES. Last week. This week. £ £ 1. Genet"’.! Reserve Fund 1,500,000 1,500,000 2. Bank nn.*s 10,292,085 10,240,240 3. Demand liabilities—(a) StaK 8,188.122 8,584,264 ,b) Banks ... ••• 8,742,030 8,584,599 (c Otl *r ... 72,166 103,394 4. Time Deposits 5. Liabilities tp currencies ofhe l than New Zea land currency G. Other liabilities ... 98,237 101,547 Total ASSETS. 7. Reserve—(a Gold 2,801,733 2,801.733 (b) Scrims, exchanges 24,039,176 24,224,599 (c) Gold each .nge ... —- 8. Subsidiar* com 200,273 205,790 9. Discount*— (a> Commercial and agriculti «al bills —•— fb> Tfeasun and local bod> bills ... —* • 10. Advances—(a) To State or State undertakings ... •• (b) To other public authorises ... (r) Olh11. Investments 1,811,516 1,815,594 12. Bank buildings 13. Other at-ets 40,843 66,335 'lral £28,893,342 £29.114,052 Proportion ol rfsorve .No. 8 le«s No 8' to notes and other liabilities 98.335% 98.232% THE METAL MARKET Press Association—By Telegraph—Copyright LONDON. April 29. The following are the official metal quotations:— Copper: Spot, £37 0s 7Jd per ton; forward, £37 6s 10Jd. Electrolytic: Spot, £4l 7s Gd; forward, £4l 12s 6a. Wire bars, £4l 7s (xl. Lead: Spot, £l6 ss; forward, £l6 3s 9d. Spelter: Spot. £ls; forward, £ls. Tin: Spot, £207 17s (id; forward, £202 7s 6d. Silver: Standard, 20 3-16 J per oz; fine, 21 13-16 d.

FOREIGN EXCHANGE ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates (to-day) for purchase and sales of foreign exchanges (all rates subject to alteration without notice) Buying. Selling. London—

The Associated Banka (other than the Bank of New South Wales) quoted the following dollar rates to-day on a New Zealand currency basis. They are subject to alteration without notice;— U.S.A. CANADA. (Per £1 N.Z.) (Per £1 N.Z.) SELLING—

T.T. (dol.) 3.951 3.97 O.D. (dol.) 3.96$ 3.97) BUYING— O.D. (dol.) 4.00| 4.01$

FOREIGN EXCHANGES (British Official Wireless.) Press Association—By Telegraph—Copyright RUGBY, April 30. (Received May 1, at 1 p.m.) The following are the mean closing rates;— Pans, franc to £1 74 63-64 New York, dollar to ,£1 4.93$ Montreal, dollar to £1 4-95$ Brussels, belgas to £1 29.22) Geneva, franc to £1 15.20) Amsterdam, liorin to £1 7.28) Berlin, rcichmarkcn to £1 12.29 Milan (nominal), lire to £1 ... 62 11-16 Stockholm, kroner to £1 19.39) Copenliagrn, kroner to £1 22 Oslo, kroner lo £1 19.90)Vienna, schilling to £1 26) Prague, kroner to £1 119) Helsingfors, marks to £1 227 Madrid, peseta to £1 36 3-16 Lisbon, escudo lo £1 110 “Athens, drachmae to £1 521 “Bucharest, lei to £1 669 Belgrade, dinars to £1 217 Warsaw, zlotys to £1 26.21 “Rio de Janeiro, pence to milrcis 4) Buenos Aires, pence to dollar ... 35 “Montevideo, pence to dollar ... 39) Bombay, pence to rupee 18) Shanghai, ponce to dollar 14) Hongkong, pence to dollar 15 13-16 Yokohama, pence to yen 14 3-64 Batavia, florin to £1 7.24)“Scllers.

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Moderately brisk aclivify resulted 'on ’Change to-day, when three sales were reported and another was effected after the call. Banks were generally firm, hut New Zealands were slightly easier, the market closing with a sale at 45s lOd, compared with yesterday’s price of 465. No changes were recorded in the insurance division, while in shipping P. and O. Deferred shares dropped Is, to 255, with buyers 3d better. Southland Frozen Meat scrip had vestibule business at 76s 6d, and further buyers came in offering 765, but sellers were silent. The market for Refrigerating shares was steady. Buyers of Trustees Executors advanced 2s 6d on yesterday’s quotation, but still failed to interest sellers. Both issues of Wright, Stephenson stocks were on offer, but buyers have apparently disappeared. In the miscellaneous section a buyer quoted £4l 10s for Colonial Sugars, but the recent seller at £42 was not in evidence. For the first time in a considerable period a buyer operated in M’Leod Bros, at £3B. New Zealand Woolworths ordinary shares showed further improvement, with buyers at £5 14s. while the Sydney issue was wanted at £7 15s, sellers quoting 2s 6d less than yesterday. Chief interest in mining stocks attached to Zincs 'and Lyells, but all round little change was recorded. Big River sellers eased Id, but buyers refused to advance on yesterday’s offer of 2s. All issues of Government loans were in demand, but no seller quoted. Sales Reported.—Southland Frozen Meat (ord.), £3 16s 6d; Bruce Woollen Company (pref.). £1 3s; Broken Hill South (cum dv.). £5 14s (late yesterday). Sale After Call. —Bank of New Zealand, £2 5s lOd.

ISSUE OF HEW ZEALAND STOCK LOAN FALLING DUE [Per United Press Association.] WELLINGTON. April 30. On inquiry from the Minister of Finance (Mr W, Nash) it was ascertained that the issue of stock referred to in the London cablegram is in relation to loan of £6.000,000 which is to be repaid on August 1. Portion of it is to be repaid out of New Zealand funds, and the balance is to be raised in London. [A message from London stated that the Treasury had agreed to the New Zealand Government _ immediately issuing stock for refunding purposes. TERMS OF LOAN, Press Association—By Telegraph—Copyright LONDON, April 30. (Received May 1, at 10 a.m.) It is understood that the New Zealand issue will be £4,000,000, 3952-55, at 9SI. Cash applications are being invited early next week. Conversion applicants are exnccted to. be offered equal nominal amounts of the new stock with a cash adjustment. LONDON WOOL SALES Messrs Dalgety and Co. Limited have received from head office, London, the following cable, dated April 30:—At next sales we anticipate a good demand, but do not expect any important change in price. _ Cross-bred coarse should be dearer owing to scarcity. MATAKI RETURN The return from the Mataki Junction dredge, at Murchison, for last week was lOloz from IS,sooyds for 116 hours work.

£ ■s. d. Bank of New South Wales 33 10 0 Commercial Bank of Svdnev 20 14 0 Colonial Sugar 42 2 6 Australian General Insurance 0 16 6 Automatic Totes 1 0 6 Howard Smith 0 17 9 British Tobacco 2 0 3 Tooths (New Zealand delivery) 2 13 3 Toohevs 1 10 6 Carlton Brewerv 2 13 3 Queensland Brewerv 1 10 0 G. J. Coles 3 14 0 Drug Houses 1 10 3 Australian Glass 4 9 6 Dunlop Perdriau 0 16 n Goldsbrough. Mort 1 11 9 Wilcox, Mofflin 0 11 3 Morris Hedstrom 1 6 0 Millaquin Sugar 1 18 3 Farmers 1 8 0 David Jones 2 5 6 Lustre 1 3 9 Henrv Jones 2 1 0 Marcus Clark 0 7 7 Peters 2 3 0 R. Fowler 0 14 0 Union Theatres (pref.) ... 0 To 9 United Provisions 0 13 9 Broken Hill Proprietary ... 3 1 6 Broken Hill Proprietary (new) 1 16 6 South Broken Hill o 13 6 Kuala Kampar 0 15 3 Rawang 0 9 6 Larut Tin 0 11 3 Puchong Tin 0 19 H Renong Tin 1 6 6 Tavua 0 2 6 Loloma 0 19 6 Emperor 0 11 9 Commonwealth Bonds. Fours— 1936 102 12 6 1941 103 0 0 1044 101 7 6 1947 102 0 0 1952 102 15 0 1959 101 5 0 1961 102 10 0 MELBOURNE, April 30. Commercial Bank of Australia 1 0 4 National Bank (£5 paid) ... 7 11 0 Union Bank 9 18 0 Metropolitan Gas 14 4 0 Electrolytic Zinc (pref.) ... 2 0 6 Australian Glass 4 9 0 Mount Lyell 1 5 3 Koroere ... ... 0 4 6 Loloma 0 19 0

£100 stg. N.Z T.T. £124 £124 10/ O D. £123 10/ £124 8/9 Australia — £A to £100. N.Z T.T. £101 £100 10/ Fiji— £F to £100 N.Z T.T. £90 7/6 £89 New Yoi^.c— dollar to £1 N.Z ... T.T. 3.99| 3.951 O.D. 4.003 3.96^ Montreal— dollar to £1 N.Z ... T.T. 4.00J 3.96J O.D. 4.01-3 3.97| France— ±'rancs .to £1 N.Z ... T.T. 60.80 59.97 O.D. 61.25 60.01 Noumea.— Francs to £1 N.Z ... T.T. 62.60 58.60 O.D. 63.05 58.66 Papeete— Francs to £1 N.Z ... T.T. 62.60 58.75 O.D. 63.05 58.81 Belgium— Belgas to £1 N.Z ... T.T. . 23,341 O.D. — 23.352 Germany— Reichmarks to £1 N.Z ... T.T. — 9.799 O.D. — 9.804 Switzerland— Francs to £1 N.Z ... T.T. 12.387 12.117 O.D. 12.492 12.122 Holland— Florins to £1 N.Z ... T.T. 5.951 5.801 O.D. 6.011 5,805 Java — Florins to £1 N.Z ... T.T. 5.921 5.761 O.D. 5.981 5.765 Japan— N.Z. pence to 1 17 41-64 yen . T.T. — O.D. — 173 Shanghai— N.Z. pence to 1 dollar .. T.T. 17 17-64 18 41-64 O.D. 17 5-64 18| India and Cevon N.Z pence to 1 rupee .. T.T. 22 9-64 22 57-64 O.D. 22 3-64 m Hongkong— N.Z. pence to 1 dollar .. T.T. 18 57-64 20 25-64 O.D. 18 51-64 20 23-64 Singapore— N.Z. pence to 1 dollar .. T.T. 34 27-64 35 31-64 O.D. 34 15-64 35 15-32 Sweden— Kroner to £1 N.Z ... T.T. 15.785 15.490 O.D. 15.845 15.500 Norway— Kroner to £1 N.Z ... T.T. 16.183 13.893 O.D. 16.243 15.903 Denmark— Kroner to £1 N.Z ... T.T, 18.203 17.893 O.D. 18.263 17.903 Austria — Schillings to £1 N.Z ... T.T. — 20.77 O.D. 20.79 Czechoslovak!*— Crowns to £1 N.Z ... T.T. 95.06 O.D. — 95.11 DOLLAR RATES. -

Quotations as under;— Buyers. Sellers. £ s. d. £ s. :1. BANKING — Australasia. — 12 5 0 New South Wales ... — 54 0 0 New Zealand 2 5 6 2 6 3 Commercial 1 0 0 1 0 4 E.S. and A. (ex div.) ... 6 3 0 — National of New Zealand — 3 16 0 Union of Australia Ud 9 14 0 — INSURANCE— National — 0 19 9 New Zealand 3 0 0 — South British 4 10 0 — 0 Standard “ 3 4 SHIPPING— Howard Smith 0 17 0 0 17 9 P. and 0. Deferred Stock 1 3 9 1 5 0 U.S.S. Co. (pref.) ... 1 6 9 — Northern S.S.. 0 6 10 — MEAT PRESERVING— Gear — 1 1 0 N.Z. Refrigerating 0 0 (paid) ... — 1 N.Z. Refrigerating (cont.) 0 9 6 0 9 9 Southland Frozen (pref.) 3 16 0 0 0 South Otago Freezing — 8 Waitaki Farmers’ Freezing ,3 16 0 ' LOAN AND AGENCY— N.Z. Eoan and Merean 0 tile (ord.) 30 0 — N.Z. Guarantee 0 Corporation 5 3 — Trustees Executors and Agencv 3 12 6 — Wright, Stephenson 0 0 (ord.) — 1 Wright, Stephenson 0 (pref.) ‘ 1 3 COATi— ■ Kaiiangala — 1 8 0 Westport 1 2 6 1 3 6 West pnrt-St ock ton 0 (pref.) 5 WOOL LEX COM P A NIES - Bruco (ord.) — 0 14 0 Bruce (pref.) 1 2 6 — Kaiapoi (cont.) 0 5 10 — 9 Kaiapoi (pref.) ... ... 0 17 6 0 18 Mosgiel 9 10 0 MISCELLANEOUS— AnUionv Hordern ... — 1 0 0 Associated News 1 2 3 —- Broken Hill Pro0 0 prictarv 3 3 1 3 Broken iiill Pro16 prictarv (cont.) — 0 i 6 Brown, Ewing (pref.) 1 2 — Colonial Sugar Co. ... 41 10 0 — D.l.C. (pref.) 1 3 6 — Dominion Fertiliser 1 b 0 — Dominion Fertiliser 0 Debs 104 0 — DonagJiy'a Rope and Twine 2 12 0 Dunedin Kaikorai Trains 2 0 6 — Dunedin Slock fcx0 0 change Propty. ... — 2 Dunlop Perdnan Rubber 0 lb 6 — 6 G. .1. Coles — 3 13 Milburn Lime and Cement 33 — 0 2 3 6 M'Drod Bros 0 National Electric ... 0 12 6 N.Z. Drug Co. 3 16 0 — N.Z. Farmers* 0 i 0 1 0 1 ' Ota wo Daily Times ’ 2 9 0 2 10 6 Regent Theatre 1 1 0 Wliiteonibo and Tombs 0 3 XL. Woo! worths (ord.) 6 14 BREWERIESNew Zealand ... —« — 2 12 6

UNLISTED STOCKS— MTntosli, Caley, Phoenix — 0 11 0 Woolworlhs (Sydney, ord.) .. 7 15 0 8 0 0 AUSTRALIAN MINING— Klectrolytic Zinc (ord., £1) 1 17 0 1 18 0 Mount, Lycll . (£1) .. 1 4 8 1 5 0 Mount Morgan (2s 6d) — 0 16 3 GOLD MINING— Argo Dredging (Is) ... 0 1 4 — Barrvtown (15s) — 1 1 0 Rig River (Is) 0 2 0 0 2 1 Brian Born (Is) 0 0 2* 0 0 3| Gillespie’s (Is) 0 1 0 0 1 2 Kildare (2?) — 0 2 9 King Solomon (Is) ... — 0 3 i Hahakipawa (6d) ... — 0 0 i Martha (5s) ... .... 1 0 0 — Maraewhenua (Is) ... 0 0 Molynenx' River (?#) — 0 z i Nokomai (5s) — 0 2 6 Okarito (5s) — 0 4 0 Oxenbridge (Is) ... 0 0 6 Paddy’s Point (5s) ... 0 1 3 0 2 6 Skippers (Is) 0 0 21 U U Waipapa Beach (Is) — 0 1 3 Waitahu (5s) ... .. 0 1 9 0 2 3 N.Z. GOVERNMENT LOANS(Bonds quoted are £100 lends.) 3i p.c. Stock, Nov., 1938-52 103 0 0 — 2h p.c. Stock, March, 1939-43 101 0 0 — 3j p.c. Stock, Sept., 1939-43 101 0 0 — 3 } p.c. Stock, May, 1939-52 103 0 0 — 3i p.c. Stock, March, 1941-43 101 0 0 — 3.V p.c. Stock, Sep., 1941-43 101 0 0 — 3j p.c. Stock, May, 1941-52 101 0 0 — 3j p.c. Stock, Nov., 1941-52 ../ 101 0 0 — 4 p.c. Bonds, 1937-40 101 15 0 — 4 p.c. Slock, 1937-40 101 10 0 — 4 p.c. Bonds, 1943-46 103 5 0 — 4 p.c. Stock, l943-4b 103 5 0 — 4 p.c. Bonds, 1946-49 102 10 0 — 4 p.c. Stock, 1946-49 102 10 0 — 4 p.c. Bonds, 1952-55 103 15 0 — 4 p.c. Stock, 1952-55 103 15 0 DIVIDENDS DUE Bank of Adelaide—Ini per cent May 6 Kaitangata Coal —12J p .c., 2s a share May 7 Sharland and Co.—Interim, ord. and pref., 24 p.c. May 11 Mackv. Logan, Caldwell — ’inal, 34 p.c May 12 Mosgiel Woollen Company—Interim, 4 per cent. May 13 National Insurance—Interim, 4d a share May 15 Broken Hill Proprietary— Halfyearly. Is 3d a share . May 20 Bank of N.S.W.—Interim, Ss a share May 27 National Bank of Australasia Final. 6s on £10 shares and 3s on £5 shares May — Henry Jones Co-op.—Interim, 6d a share J une 1 Broken Hill South —2s 6d a share June 13