LATE ANNOUNCEMENTS

Evening Star, Issue 23817, 22 February 1941, Page 15

LATE ANNOUNCEMENTS

RIVIDENDS AND SHARE ISSUES 9 COMPANIES CENSURED BY ASSOCIATION ll’kk United Press Association.] WELLLINGTON, February 21. The twenty-fifth annual general meeting of the Stock Exchange Association of New Zealand was held in Wellington this week. Mr A. Hamilton (Wellington) and Mr J. W. Frater (Auckland) were re-elected president and vice-president respectively for the coming year. A number of remits From exchanges were dealt with and also certain details in connection with dealings in the new issue of shares in the Broken Hill Proprietary Company. Pleasure was expressed at. the action of the Government and the Minister of Finance, Mr Nash, in 1 lie extension of facilities granted for taking up and dealing in New Zealand in these now shares and so enabling shareholder.' here lo assist the company in ils war effort. .Sonic of the most important business at Iho meeting was in connection was bringing the official listing requirements into lino will) those adopted by the Australian exchanges. It is expected that these will be released in a few weeks. Special listing requirements were al'o dealt with for share investment companies, sometimes called trust companies. Tim meeting gave consideration to laxity on the pari of the executives of many listed companies in giving prompt, advice to shareholders of recommendations by directors for the payment of dividends and the issue of new shares. Although the association had written to nearly all the companies whoso shares arc publicly dealt in explaining the necessity for releasing such information promptly, many ’ companies .still failed to advise their dividends, with the result that confusion arose as to who. was entitled to the dividend, the buyer or the seller. It. was decided that if companies continued to fail to advise some several days ahead the date on which the transfer books are to be closed and the amount of the dividend to be paid it. would bo necessary to remove these companies from the official list and leave it to the shareholders to ask their directors to explain the reason. Delegates pointed out that no such trouble is given to the shareholders of Australian companies, the secretaries of which give immediate public advico the moment their directors have come to a decision. CANTERBURY HARVEST LACK OF CONFIDENCE IN FUTURES [Per United Press Association.] CHRISTCHURCH, February 21. The lack of confidence wttich has vest deled sradin fe m die grain and produce market.' -nice ihe beginning ui the. seacon 'hows no ogns of abating and business in every secVuii this week has been unduly quiet foi the time of the 'car. The only real activity has bte.i in wheat, which has been delivered a- fast as trucks have become available to move it from (lie country. Report' ind’eate that the yield has been patchy in this part of the province, but excellent results have been obtained in Mid and Siuth Canterbury. After a -v'glit. flutter earlier in the week the potato .market has again become very 11111 f*, though va’ues have not receded from t tio £4 for Vp. 'i-May-Junc at which business was r. conud Ryegrass - still offering only in limited amounts ind remains steady at tip to 4?. More, Aka.'oa cocksfoot has come in during the week and shows a wide variation m quality and a wider range in weights. The bulk of the samples so far received range '-uni 7,lib (o 121 b and values have b»on .'Olll 8d to Is. Oats are not being offered at all freely after the early rush, and values remain steady. There is. a restricted inquiry for chaff, which is steady at £5 10s on trucks. MINING HEWS MAORI GOLD RETURN. The Maori Gold weekly return was 470 a 15dwt from 9,000 yards in 118 hours. AUSTRALIAN STOCK EXCHANGES Press Association—By I'eiegraph Copyright SYDNEY, February 21. ■J'he share market, to-day was subdued, investors marking time. Morning Sales.—Australian Gas (A, ex div.), 5s 7d; Commercial Bank of Sydney, £lB 16s; Tooth's, £2 11s 6d; Mercantile Mutual, £1 8s 6d ; Associated News (pref.), 16s: Dunlop Perdrian, £1 Os 4Jd. Afternoon Sales.—Bank of Now South Wales, £26 6s; Toohey’s, £1 9s 3d; Australian General Insurance, 17s; Mercantile Mutual Insurance. £1 8s 6d: United Insurance, £9 10s; Bond’s Industries, £1 4s Id; Colonial Sugar, £47; Gordon and Catch, £2; Mori’s Dock, 18s 3d; Adams, 14s 6d; Woolworths, 17s 7d; Kandos, £1 12s. MELBOURNE, February 21. Metropolitan Gas, £l3; Electrolytic Zinc (pref.), £2 12s; Broken Hill Proprietary (rights), 17s Id; ditto (ox rights), £1 19s 6d.