Otago Customs Revenue

Evening Star, Issue 22895, 1 March 1938, Page 6

Otago Customs Revenue

British Tobacco’s Interim Dividend

Clutha Dredge Production Reaches 7,5000 z

The London Stock Exchange is quiet, with business slow, operators awaiting the outcome of events. New York closed weaker yesterday, with turnover at 560,000. Dow Jones industrials declined 1.62. Influenced by the uncertainty overseas, the local market had an easier undertone this morning, with a consequent easing in transtasman issues. Business was good. The British Tobacco Company Ltd. has declared the first interim quarterly dividend of its current year-at 2 per cent. British capital issues during February, show- a remarkable rise of £12,000,000 over the January figures, and an increase of almost £9,000,000 over the corresponding period of 1937. Customs revenue collected at the Port of Otago during the month of February shows little appreciable change on last year’s respective returns. Compared with January the revenue reveals a considerable decrease, even allowing for the shorter month. The Auckland and Wellington returns continue buoyant. The monthly statement of assets and liabilities of the six trading banks shows that, though the level of advances and discounts is slightly lower than at the end of December, compared with the January totals of other years, it reveals a marked growth which has been characteristic of recent returns. Free and fixed deposits, while slightly down on January, 1937, are still substantially above the 1936 and 1935 recordings. Since the Clutha River Gold Dredging Company Ltd. began operations below Alexandra nine months ago it has recovered 7,5000 zof gold, worth. £60,000 (New Zealand currency). Working costs require an average of 40oz a week, so that an approximate profit of 6,0000 z has been recorded.