BUSINESS SLACKENS

Evening Star, Issue 23725, 5 November 1940, Page 9

BUSINESS SLACKENS

NO NEWi DEVELOPMENTS SOME SHARES AT LOWER LEVELS Thera were no developments of note at the first callover on the Dunedin Stock Exchange this morning, and the business reported consisted solely of a late sale ot the main Woolworth issue. This was a contrast to the brisk trading of yesterday. Government issues commanded only comparatively low bids. The offer of V»ai Loan was reduced slightly to £79 10s. ■ Insurances were asked for at slightly decreased rates. Only a few meat preserving lines were quoted. Loan and agency issues held to lata rates, with the exception ot National Mortgage, which was on offer at £1 17s and did not evoke any response. The Broken Hill offer dropped again proportionately to its rise of yesterday. The New Zealand Drug bid was again at a high k ' ,el, SALES REPORTED. —Yesterday.— 3J per cent. Stock, 1960, £IOO 10a. Commercial Bank, 15s. Bank of New Zealand, £2 Is 3d. Bank of New Zealand (Long D), £1 8s 6d. Union Bank, £7. Kaiapoi (ord.), 13s 9d. Dunlop Rubber, £1 0s Bd, Waihi Investments, 4s 6d. .Woolworths, Sydney (after call), 18s. National Tobacco (unlisted), £1 11s. Woolworths, Sydney (late), 18s. OVERSEAS TRADE SEPTEMBER IMPORTS RISE [Per United Press Association.] WELLINGTON, November 4. The following are the overseas trade figures (excluding specie) for New Zealand for the month of September, 1940, compared with the corresponding figures for the two previous years: — —Month of September.— .

COMPANY NEWS BRUCE WOOLLEN. A net profit of £23,715 7s 4d is shown in the forty-third annual report of the Bruce Woollen Manufacturing Company Ltd. for the year ended September 19. Profit is struck after providing £6.000 for depreciation and making provision ior file payment of income tax and national and social security tax. After ~ adding -r.no • balance carried forward last year. £2,9*3 4s 3d, the total in the profit and .css appropriation account is £26,658 Its 7a. The directors recommend that this amount be dealt with as follows-.—Payment of dividend on cumulative ['inference era res, £2,800; dividend on ordinary shares at 6 per cent.. £6,000; bonus on ordinary shares at 2 per cent., £2,000; transfer to reserve account, £7,800; carry forward, £8,058 Us 7d.

D.I.C. PROFIT INCREASE. The neb profit of the Drapery and General, Importing Company cf New Zealand Ltd., in the year ended August BC. 1940, was £41,674. Profit is struck after making full provision for land and income tax, social and national security charges. Bad and doubtful debts and depreciation, and compares with £)1 099 last year and £38,389 in 1938. Final preference. diviflvnl at the nstal rate of 5 per cent, per annum absorbs £6,250. The ordinary dividend iias been raised from C per cent, to V per cent., and requires £l7 073. against £14.081 last tear. The sum of £9, So; has been sent to general reserve, Dnng-.ng the total lo £73,000, and 3.1.000 has been'allocated for contribution to patriotic funds al the discretion of the directors, leaving £47,304 to be carried forward, against £46,120 brought in The directors report that t'lay have derided not to deduct the fecial and national security charges on preference shares, amounting to Id in every 10d_of dividend but they emphasise that this does not constitute a precedent. Ihe dividends will be payable on and after November 16. The balance sheet snows that mortgages have been reduced by £5,000 to £3l COO. Laud and buildings are shown at £429.931. against £443,173 last year, and stocks et £255,248. against £231.010. Gross profit was £347.187. against £321.031., WAIHI INVESTMENTS LTD, [Feb United Press Association] WELLINGTON, November 5. The directors of Wailii Investments and Exploration Ltd., at their annual meeting in London on November 14, will recommend a dividend of 6 per cent., less English income tax of 8s 6d in the £. \ MINING NEWS OKARITO DREDGE. The dredge of the Okarito Five-mile Uoach Company is still in process of being moved from the north end of the claim, where work has been completed, to a new position some distance south. It was floated down the lagoon, and on Thursday of last week it commenced to dredge a passage through 12 chains of swampy ground in order lo reach the portion of the claim which is to be worked next, ft is estimated that another four lo five weeks’ ■work will bring the dredge lo gold-bearing i, rc-und. COMPANIES REGISTERED Notification of the registration of the following companies appears in the latest issue of the ‘Mercantile Gazette’:— Alaska Furs and Gowns Ltd. Registered as a private company, October 22. Office: Dunedin. Capital; £I,OOO, into 1,000 shares cf £1 each. Subscribers: Dunedin M. R. Fisse 999. I. B. Stevenson 1. Objects: To carry on the business of costumiers, dressmakers, furriers, general drapers. Birch (W. H.) and Co. Ltd. Registered as a private company October 16. Office; Gore. Capital: £12,000. in 12,000 shares of £1 each. Subscribers; Invercargill-W. H. C. Birch -2.766, D. H. Birch 2,766. Gore— R. W. M'Creath 2,208. F. V. M'Creath 2,208, M. C. Fitzgerald 552. A. W. Paterson 552. Tuatanero —W. S, Buchanan 943. Objects; Saw-millers and timber merchants.

1940. 1939. • 1938. £ £ £ Exports ... 3,193,000 2,997,000 3,184,000 Imports ... 4,257,000 3,684,000 4,821,000 Excess of import's ■ ... 1,064,000 687,000 1,637,000 —Nina Months Ended September.— 1940. 1939. 1938. £ £ £ Exports ... 57,438,000 47,476.000 48,097,000 Imports ... 33,308,000 40,124.000 41.604.000 Excess of exports ... 19,130,000 7,352,000 6,493,000