AN INVESTOR'S NOTEBOOK

Evening Star, Issue 25730, 1 March 1946, Page 6

AN INVESTOR'S NOTEBOOK

EASTERN TIN DREDGING PRODUCTION COSTS AND PRICE Production costs of Eastern tin dredging companies were unlikely ever to be as low as they wexe before the war, but as other tin-producing countries would be similarly affected, it might simply mean that the price of tin would remain high, said tlhe chairman of Austral Malay Tin Ltd. (Mr W. A. Freeman) at the annual meeting in Sydney. Steps were being taken to restore production on some- of the properties in the company's group, but procurement of heavy parts was difficult, some makers declining to offer delivery in less than two years and a-half. Damage to the properties generally was less than expected. Most of the dredges were floating, with superstructure and some machinery intact. This meant a great saving in rehabilitation cost and shortening of the period to resumption. The. group could make financial arrangements and would not have to await receipt of compensation payments before taking steps to restore the dredges to working condition. Already seven of the staff had gone to Malaya and one to Burma to supervise the work. GILLESPIE'S IN LIQUIDATION. The Gillespie's Beach Gold Dredging Co. Ltd., which was dredging an area in South Westland, is to go into liquidation because of the area proving unprofitable. The company, which has a capital of £35,000, has been in operation- for the past 14 years. UNITED STARR-BOWKETT. A meeting of members of the United Starr-Bowkett Building Society was held in the office of the secretaries last evening. The business was the first appropriation in the new No. 13 group, a ballot for £I,OOO free loan. The number _drawn was cluster 11, held by two Dunedin shareholders. TOBACCO DIVIDEND. British Tobacco Co. (Aus.) has declared the usual interim quarterly dividend of 2 per cent. Books close on March 6. CUSTOMS REVENUE. Increases under all headings are shown in the Customs returns for February at the four main poTts. An increase of £12,536 in the Customs receipts for the port of Otago is,reported, while sales tax has risen by £4,000. Comparative figures are as follows, the figures for February, 1945, being' shown in parentheses:—Customs, £40,946 (£28,410); beer duty, £39,626 (£38,892); sales tax, £19,990 (£15,979); war expenses tax, £90,889 (£82,406); gold tax. £543 (—); and petrol tax, £10,132 (—). . Christchurch.—Customs, £78,603 (£52,588); beer duty, £27,947 (£19,847); sales tax, £31,563 (£24,436) ; war expenses tax. £120,279 (£91,191); and petrol tax, £21,053 (£15,507). Wellington.—-Customs, £278,771 (£216,541); beer duty, £21,232 (£16,822); sales tax. £67,416 (£54,408); war expenses tax, £298,823 (£260,436); Petrol tax, £24,471 (—); and tyre tax, £770 (—). Auckland.—Customs, £280.060. (£256,132); beer duly, £42,938 (£34,666); sales tax, £74,809 (£65,614); war expenses tax, £245,158 (£220,140); and petrol tax, £62,809 (£51,949)