Commerce, Mining, Finance

Evening Star, Issue 23737, 19 November 1940, Page 9

Commerce, Mining, Finance

PRICES STEADY GOVERNMENT LOANS WANTED NO NEW DEVELOPMENTS RECORDED Stock Exchange quotations this morning remained for the most part in the static condition which has been a feature foi soma time, payment of dividends or interest beintr practically the only matters instrumental in the few changes that have occurred. There was a longer list ot Government loans in demand, buyers ■continuing to advance the same quotations as have ruled. . , . . , Banks remained mamiy in sellers nanus. Woollen companies showed a stronger demand than has ruled for a wlinc, with no advance in prices. In the overseas mining list, there was a bid of 14s for Isew Broken Hill Consolidated. Mount Morgans were close to a salo at 10s 4d and 10s 9d. SALES REPORTED. —Yesterday.— Dunlop Rubber, £1 Os 3d. Farmers’ Fertiliser, £1 Zs. War Loan (after call), £79 15s. Colonial Sugar (late), £52 10s. British Tobacco (late), £2 9s 9d,

IMPORT LICENSES A FURTHER CONCESSION [Per United Press' Association.] WELLINGTON, November 18. Goods shipped in vessels finally departing from the United Kingdom for New Zealand not later than November 20 will be admitted under third or fourth period iiC6US€S. Making this statement, the Minister of Customs, Mr Nash, said: “ Since my recent announcement that in cases where an importer has no allocation for similar goods for the fifth period lie should take steps to ensure that, either the goods are shipped in time to arrive before the end of the year or that shipment is not made, representations have been received by me respecting the difficulty in determining whether a shipment will be made, having regard to the uncertainty attaching not only to the dates of departure of vessels from the United Kingdom under the existing conditions, but also the tune occupied by vessels on the voyage to the Dominion.” With a view to overcoming this difficutly, the Minister added, the above-mentioned provision would be made. It was not possible to depart from the procedure previously announced that where an importer 4iad an allocation for similar goods for the fifth period, any goods imported by him after December dl next, irrespective of the date of shipment, could be admitted only as a charge against such allocation; m other words, third and fourth period licenses could not be extended beyond December 31. With a view, however, to assisting exporters in the United Kingdom and importers in determining whether a shipment could be made, in cases where an importer might have no allocation for the fifth period, it had been decided to admit under special licenses goods ing after December 31 for which no fiftn period allocation was available to the importer, provided they were shipped m vessels which left the final port of departure in the United Kingdom for New Zealand not later than November 20. Vessels would be regarded as leaving the final port,of departure by November 20 if loading were completed at such a port on or before that date. , ~ This procedure would also be applied, air Nash said, to goods shipped from countries other than the United Kingdom m vessels leaving the final port of departure in the exporting country for New Zealand not later than November 20. or which completed loading at the final port m that country before that date. Mr Nash said that importers should take steps to ensure that goods for which they would have no allocation for the filth period were not shipped from the ex P ort ' ins country in later vessels than those covered,by the above decision, unless they would arrive in the Dominion not later than December 31.

AUSTRALIAN STOCK EXCHANGES SYDNEY, November 18. Business was quiet on the Stock Exchange, and prices were steady. Broken Hill Proprietary, £2 6s; Newbold, £1 6s; W. B. Carpenter, £1 16s; Associated News, 15s od; Howard Smith, £1 2s 3d; Oil Search 4s Hid; Austral-New Zealand Gold, £ 1 4s; Farmers, £1 8s 3d; Tooth’s, £2 11s 9d; Mount Morgan, 10s 8d; Atkins, £1 2s; Goldsbrough, Mort, £1 5s 3d. MELBOURNE, November 18. North Broken Hill, £2; Metropolitan Gas, £l3 lls; Loloma, £1 5s 3d; Felt Textiles, £1 17s; Dunlop Perdriau, 19s lOd; National Bank (£lO paid), £l2 Is. COMPANY NEWS WOOLWOHTH PROPERTIES LTD. The second annual meeting of shareholders in Wcolworth Properties Ltd. was to have been held at Sydney to-day. The report states that the profit for the year, deducting working expenses and depreciation, was £7O, 838. £20,300 was set aside for taxation (£1,310 for the previous year), leaving £50,538. Dividends distributed amounted tc £32,533. A balance of £i brought forward last year was added to the £lB 000 remaining, leaving a new balance to be carried forward of £IB,OOI. In accordance wilh the arrangement made with Woolworths Limited, rentals have been received in respect of the buildings owned by the company sufficient to cover the dividend mentioned above, and all the expenses incurred during the year, and depreciation of 2 per cent, on the capita! value of the buildings and improvements. During the year an issue of 296,697 preferred ordinary shares was made at par and was fully subscriber! and paid up with the exception cf £134 owing by certain New Zealand shareholders, due to exchange difficulties.

PUBLIC TRUSTEE STATEMENT FOB OCTOBER Estates of a value of £659,582 were accepted for administration by the Public Trustee during the month of October, 1940. The new business for the seven months ended October 31 was £4,298,021. Grants of administration made by the court in favour of the Public Trustee numbered 204 for the month. During the month 927 new wills appointing the Public Trustee executor were prepared on behalf of testators and lodged for safe custody. and 395 existing wills were reviseo to nrovide for changes desired by testators.

DUNEDIN STOCK EXCHANGE THIS MORNING'S CALL LATEST QUOTATIONS

DIVIDENDS AND CALLS The following is a list of shares on which dividends will shortly be payable:— Westport Coal—Pinal, 6d a share Nov. 21 Perpetual Trustees — Interim, Is a share Nov. 25 Bruce Woollen—Annual, pref., 6 per cent., ord, 8 per cent. ... Nov. 25 National Bank of Australia Ltd. —lnterim, 6 per cent, per annum Nov. 27 Broken Hill Proprietary—per cent Nov. 27 National Insurance—sd a share ... Nov. 28 Wilsons Cement —Half-yearly, 4sd a share Deo. 2 Dunedin Stock Exchange Pro-prietary-Interim, 6d a share Dec. 2 Bank of New Zealand—lnterim, oi>d Is a share, Long B 3J per cent Dec. 7 North Broken Hill—ls a share ... Dec. 12 Henry Jones Co-operative—ls 6d a share Dec. 16 Broken Hill South —Is a share ... Dec. 18 Mount Lyell—ls 3d a share (Australian currency) Dec. 18 N.Z. Loan and Mercantile—Annual, pref. 5 per cent., ord. 3 per cent, (less English income ‘ lax) Dec. 39

Buyers. Sellers. £ s. d. £ 6. d. N.Z. GOVERNMENT LOANS34 p.c. Bonds, 1953-57 100 10 0 — 34 p.c. Stock, 1953-57 100 10 0 — 4 p.c. Bonds, 1943-46 102 10 0 — 4 p.c Stock, 1943-46 102 10 0 — 4 p.c. Bonds, 1946-49 103 0 0. — 4 p.c. Stock, .1946-49 103 0 0 — 4 p.c. Stock, Nov. 0 30. 1948 104 10 — 4 p.c Stock, Nov. 30. 1948 104 10 0 — 4 p.c. Slock, Nov., 0 1949-52 103 10 0 104 5 4 p.c. Bonds. 1952-55 105 5 0 — 4 p c. Stock, 1952-55 105 S 0 — 4 p.c. Bonds, 1954-58 106 10 0 — 4 p.c. Stock. 1954-58 106 10 0 — War Loan, October, 1953 79 10 0 ***“ BANKING— New Zealand (£1) ... — 1 19 9 New Zealand, Long 8 “ D ” (£1) — 1 0 Commercial (10s) 0 14 10 “* E.S. and A. (£3) ... — 5 0 0 National of N.Z. (£2 10s) 2 0 0 INSURANCE — National (7s) — 0 18 2 New Zealand (£1) ... 3 0 3 — Standard (£1) ... ••• 2 18 6 SHIPPING— P, and O. Def. Stock (£1) 1 3 6 1 7 0 U.S.S. Co. (pref., £1) 1 6 3 MEAT PRESERVING— N.Z. Refrigerating 9 (cont., 10s) South Otago Freez0 9 2 0 4 5 0 ing (£5) • 0 — Waitaki Farmers 4 15 Freezing (£5) . ... 0 ** LOAN AND AGENCY— Dalgety (£5) — 7 0 0 National Mortgage (“ B ” issue, £1) 1. 0 0 — Perpetual Trustees 2 10 i8s) ; - 3 — Trustees, Executors, and Agency (£3) ... 4 2 0 — Wright, Stephenson (ord., £1) ••• Wright, Stephenson — U 13 6 (pref., £1) 1 0 0

COALWostporfc ... 1 2 3 ' OIL— Moturoa (pref., 5s) ... — 0 5 0 WOOLLEN COMPANIES— Bond’s Hosiery (£1) 1 8 0 — Bruce (ord., £1) 1 0 6 —• Bruce (pref., £1) ... 1 0 0 — Kaiapoi, (ord., 17s) ... 0 13 6. — Kaiapoi (cont., 7s) ... 0 6 Kaiapoi (preL, 17s) ... 0.17 0 Moegiel (£4) 10 10 0 *■“ MISCELLANEOUS— ' Broken Hill Pty.' (£1) 2 5 3 2 6 3 Chas. Begg and Co. ... 1 1 0 — Crystal Ice Co. (£1) 2 2 0 — D.I.C. (ord., 10s) ... — 0 14 0 D.I.C (pref., £1) ... 1 2 6 — Donaghy s Rope and Twme (£1) :.. , ... 2 13 0 — 0. J. Coles — 3 10 0 Macduffs Ltd. (ord., £1) ... 0 10 10 — Macduffs Ltd. (pref., £1) - 0 18 6 — Milburn Lime and Cement (£1) ... ... — 2 0 0 M’Leod Bros. Ltd. (£10) 26 0 0 — National Electric (£1) 0 17 9 — N.Z. Drug Co. (£2) 3 15 9 — N.Z. Paper Mills (£1) ... ... ... ... 1 9 0 —■ ‘ Otago Daily Times (£1) ... — 2 0 0 Smith and Smith (pref., £1) 0 18 9 •— Southland Ice Cream — 1 6 0 Woolworths (N.Z., ord., 5s) — 0 16 , 2 Woolworths (Sydney, ord., 5s) 0 18 2 BREWERIES— New Zealand (£1) ... 1 12 3 — Dunedin 0 199 _ OVERSEAS MINING— Broken Hill South (5s) ... ... 1 5 6 Mount Lyell (£1) — 1 11 0 Mount Morgan (2s 6d) ... , 0 10 4 0 10 9 North Broken Hill (5s) 2 0 0 — Wellington Alluvials — 0 4 S New Broken H'H, Consol 0 14 0 — 'N.Z. MINING— Austral N.Z. (£1) ... — 1 9 3Big River (Is) 0 0 6 — Clutha River (2s) ... — 0 2 3 Gillespie’s (Is) — 0 0 6 Martha (5s) — 0 7 3 Molyneux River (2s) 0 0 5 —• Nokornai (5s) — 0 1 9 Okarito (5s) 0 0 8 — Sandhills (Is) —- 0 0 1 Waitahu (5s) 0 0 5 0 0 9 UNLISTED STOCKS— All Stocks in this section are not quoted on the official list, and transactions are subject to a different rate of brokerage;— Selfridge’s (N.Z.) ... 0 4 1 — Dunedin Ice Cream ... 1 7 6 — Otago Farmers (cum., pref.) — 1 0 0 Otago and Southland Finance 0 2 0