COMMERCIAL

Evening Star, Issue 25621, 23 October 1945, Page 6

COMMERCIAL

SHARE MARKET. The market opened quietly this morning, with little change in prices, investment interest in Ihe main being concentrated on the new issue being made by Felt and Textiles Ltd. Bank of New Zealands closed around the 50s mark, with D Morts. wanted at 30s. Commercials bad unanswered buyers at 18s Id. New Zealand Insurances, which had reported business at 945, came on offer at Is above that price. Southland Frozen ords. were firm at 58s 3d-63s 6d, while Dominion Breweries retained their recent strength to finish at buyers 55s 3d. Donaghy’s Ropes were quoted wide at 675-745, 745, Broken Hill Souths were the only shares to command attention in the Aus Italian raining section, the market closing ' at. 28s-30s. SALES ON ’CHANGE: THIS DAY. Dunedin.—Sales reported: 3 per cent. Stock, 1946:48, £IOO (£270): New Zealand Insurance, 94s (50). Auckland.—Morning sales: Felt and Textiles, 60s 6d; British Tobacco, ,51s; H.M. Arcade, 18s; Reid Rubber (rights). 8s 3d; Arahura, 33s 3d; Arahura (deferred), 28s 6d; Mount Morgan, 9s 7d; New Zealand Stock (2] per cent., 1945-51), £97 10s. Noon sales: Bank of New Zealand, 50s; Domimon Breweries, 55s 3d: M.K. Manufactures, 8s Bd. Christchurch.—4 per cent. Stock (1946-49), £IOO 5s (2); Booth. Macdonald (pref.), 9s 5d (2). . Wellington.—New Zealand Breweries, 275; Woolworths (New Zealand), 24s 3d. EMPEROR CAPITAL. Emperor Mines Ltd., Melbourne, proposes to return. capital of 2s 6d a share, to be paid in January. The amount is £237,500. Paid capital will be reduced to £570,000 in shares of 6s each. Capital of Is 6d a share was returned in January, 1944. The company’s chief asset is its shareholding in Emperor Gold Mining Cc-. Ltd., Fiji. BANK OF NEW ZEALAND DIVIDENDS. The directors of the Bank of New Zealand have declared the usual interim dividend of 3 per cent, on ordinary shares, and a half-year's dividend of 3J per cent, (less security taxes) on D mortgage shares, payable on December 8. Dividends cover the half-year ended September 30. . D.I.C. ACCOUNTS. A net profit of £35,702, compared with £35,635 last year, is reported in the annual accounts of the Drapery and General Importing Company Ltd. The gross profit is stated at £384,695, compared with £366,779 last ye»r, and £347,352 in 1943. Tlio dividends are unchanged.

Provision for taxation amounts tc- £133,789. against £136,311 in 1944. The balance brought forward from last year of £50.515 compares with a carry forward of £50,688.

Tlie dividend distributions are 5 per cent, c-ii the preference shares and 7 per cent, on the ordinary script. The sunt of £I.OOO is posted for allocation to patriotic and similar funds, as usual. The directors have again decided not to deduct tire social security charge and national security tax payable on preference shares, but they emphasise that this decision does not constitute a precedent.