COMMERCIAL

Evening Star, Issue 23718, 28 October 1940, Page 2

COMMERCIAL

COTTON, RUBBER, ETC. Press Association—By Telegraph—Copyright LONDON, October 26. Friday's closing prices were as follows: Rubber: Para, 12d; plantation smoked, lljd. Cotton: Spot, 8.22 d.

\ HEW ZEALAND STOCKS

ATTRACTIVE YIELDS Press Association—By Telegraph—Copyright LONDON, October 26. The 1 Investors’ Chronicle,’ reviewing the marked appeal of New Zealand stocks, writes: “To say that New Zealand is tho most advanced of the dominions is merely to state tho obvious. The progress of Her social and economic reforms before the war was watched here with interest and sympathy—and some anxiety. Since then the transition from peace to wartime economy has been achieved remarkably smoothly. Compulsory loans are foreign to our nature, hut many feci that New • Zealand is approaching the problem of financing the war without inflation and on sensible lines. Now Zealand 4s not out of Hie wood yet, but has certain very substantial if slightly intangible assets. The manner in w-bich New Zealanders have rallied to the cause of the Mother Country will not be forgotten hero. And throughout all the debt contretemps before the war New Zealand statesmen never failed to emphasise that maintenance of the debt services and maximum purchases of United Kingdom goods were their primary considerations. The yields offering on Now Zealand stocks must be considered attractive.”

DIVIDENDS AND GALLS

The following is a list of shares on winch dividends will shortly be payable:— N.Z. Guarantee Corp.—Final, Id a share, making 5 5-9 per cent, per annum Oct. 30 N.Z. Malay Rubber—Final, 4 per cent. (ord. and pref.) Oct. 30 South Otago Freezing—s per cent. Oct. 30 Australian Iron and Steel (pvef.)— _ t 5.8 per cent Nov, 1 Prestige (N.Z.) Ltd—Half-yearly, 6 per cent, per annum Isov. 1 Martha Gold Mining—lnterim, 6d a share free of British income lax Nov - 1 Bank of Adelaide—lnterim, 5) per cent, per annum Nov. 5 N.Z Paper Mills—lnterim. 3 per cent *«'•• lf > National Bank of Australia Ltd. —lnterim, C per cent, per annum Nov. 27 Bank of New Zealand—lnterim, ord., Is a share, Long D, 3f per cent, ••• Dec. 7

NEW BANK NOTES

I SMALLER DENOMINATIONS Press Association —By Telegraph—Copyright LONDON, October 26. It is reporter! that the authorities intend to print five-shilling and two-and-sixpenny bank notes. The probable explanation is the sharp expansion in the circulation of coinage, due to trade activity. The holding of silver coin in the issue department of the Bank of England has fallen from £500,000 on August 31 to £9,380. The bank states that the printing is merely a precautionary measure in readiness for further air raid dislocation. Bankers are emphatic that there is no evidence of a shortage of sliver coins. The United States is likely strongly to resent any move to reduce further the very limited role silver plays in the British monetary SALES TAX DISTRIBUTION FIRST EFFECT OF LEVY INCREASE The total sales tax collected during August was £535,421. Of this amount £250,734 was credited to tho War Expenses Account under tho legislation increasing tho tax from 5 per cent., to 10 per cent, as from June 28. This is the first substantial amount to be shown under this heading, as the tax collected in any one month is mainly in respect of transactions in the previous month. Consequently the amount credited' to the War Expenses Account is largely the levy on sales in July- and is the first full month’s yield from the additional tax. The tax collected for ordinary revenue purposes in August amounted to £284,687, or £28,606 less than the July figure, but £15,355 higher than tho yield for August, 1939.