COMMERCIAL

Evening Star, Issue 25672, 21 December 1945, Page 6

COMMERCIAL

SHARE MARKET. . The market closed quietly to-day with little change in prices. Standards were tho only shares sought in the insurance section, a buyer offering up to 83s 9d. I*. and O. Stock had an inquiry at 595, while the contributing issue of New Zealand Refrigeratings finished at 14s 10d-15s 3d. South Otagos were available at £6 10s. New Zealand Breweries had a Jate transaction at 46s 9d, with buyers in the room offering 46s 6d. Miscellaneous stocks were', quiet, with Broken Hiil Proprietaries sought at 45s 9d, and Claude Neons advancing to buyers at 41s 6d. Wilsons Cements were on offer at 19s. Buyers appeared for New Broken Hill at 235, and the rights to the new issue at 9s 3d. SALES ON ’CHANGE: THIS DAY. Dunedin. —Sales reported (late yesterday) : South British Insurance, 89s 9d (59, odd lot); New Zealand Drug (paid), £5 5s (27, odd lot). This morning: New Zealand Breweries, 46s 9d (100, late yesterday) ; Clutha River, 3s 6d (500). Aucklaud —Morning sales: Auckland Gas, 7s 8d Wellington.—Bonds Hosiery, 51s; Burns Plrilp, 77s 6d Reported: Bank of New South Wales, £33 12s 6d; Wellington Investment Trustee and Agency (cum div.), 9s 6d. Christchurch.—Reported: Bank of Australasia, £8 17s 6d. SHARE MARKET INDEX. New York. —Dow Jones (1936 equals 100) 1939: Highest (Sept.), rails, 35.90; industrials, 151.22. Lowest: (April), rails. 24.15; industrials, 121.4.

London.—‘ Financial Times ' (1926 equals 100) :

BULOLO REHABILITATION. • Rehabilitation measures of Bulolo Gold Dredging Ltd are uhder way, but no estimate of the date of resumption can be made yet, the directors report. Much depends upon shipping facilities. The eight dredges are in good structural condition. The field staff is being built up, and much of the equipment required is now being manufactured. Most of the hydro-electric equipment has already been shipped. Negotiations for a settlement of war damage arc proceeding with the Australian War Damage Commission. , GEAR MEAT COMPANY, Tlie directors of the Gear Meat Company have decided to recommend the payment, for tlie year ended November 30, of a dividend of 9d, and a bonus of 3d per share, less the interim dividend of 6d per share paid in June last. MINING NEWS. Grey River Dredge.—ln the fortnight ended on Wednesday the dredge obtained a return of 313.6 ounces from 188,402 yards, treated In 257 hours. LOWER PRICES HINT. The company must be prepared to accept lower prices for all its manufactured goods, said the chairman of Henry Jones Co-opera-tive Ltd., Mr A. W. Palfreyman, at the annual meeting in Melbourne. The remaining 46,827 shares would probably be issued to"deserving employees, he said. During the last. financial year 27,000 shares were issued to employees. TAXATION: HARVEST. Out of every £1 earned by the Golden Bay Cement Company the Government took 16s 3-2(1, leaving only 3s Bjd to provide for dividends and foe building reserves* to ex-, tend the works, said tlie chairman, Mr J. M. A. llott, at the annual meeting in \\ elLmßon. He said Ihe aggregate amount contributed to the nation’s revenues during the past six years as a result of the company’s operations was as follows:—Sales tax, £104,217; income, national, social securtiy tax, £67,871; debenture tax, £11,328. To that had to be added the employees’ contribu- > tion in national and social security , tax on salaries and wages paid, amounting, to £25.000, making a total of £208,416 paid to the Government. During the same period there remained for reserves and payment of dividends to shareholders £14,286. GORDON AND GOTCH. Profit of Gordon and Gotcb (A’asia) Ltd for the half-year ended September 30 at £53,070 compares with £53,087 for the previous period. Profit for tlie year is thus £106,157, against £105,164 last year, after ■ allowing £8,059 for depreciation, against £9,569. Preference dividend of 8 per cent, absorbs £B,OOO, and ordinary dividend of 17j- per cent., plus victory bonus of 3d a ' share (total 18J per cent., last year 17| per cent ), requires £93,750. CHEMICALS DIVIDEND. Imperial Chemical Industries of Australia J and New Zealand Ltd. is paying the halfyearly dividend of 2£ per cent, on preference shares on January 31.

Rails. Indus. Shares sold. J uly 31 .. 57.12 162.88 870,000 Aug. 31 .. 55.28 174.29 1,100,000 Sept. 4 .. 55.20 173.90 1,070,000 Oct. 3 .. 59.22 183.85 1,800,000 Dec. 17 .. 64.15 193.34 1,130,000 Dec. 20 .. 63.32 190.62 970,000

1UUJ Govt Rails. Indus. Gold. July 31 .. 114.9 61.8 137.4 155.5 Au<?. 31 .. 115.7 62.4 141.0 161.4 Sept 25 .. 115.5 62.8 142.6 165.5 Oct. 3 .. 115.4 62.9 142.8 167.9 Ucc. 17 .. 114.8 63.7 — 165.9