STOCKS AND SHARES

Greymouth Evening Star, 12 February 1927, Page 8

STOCKS AND SHARES

A WEEKLY REVIEW (By “Insider”) Since the opening of the Stock Exchang this year business has been fairly active and the turnover particularly in gilt-edged stock, good. The following statement showing how prices at date compare with those ruling a year ago, will be of interest

The Bank of New South Wales last year had a net profit of £1,099,559, balance brought forward £130,755. Total £1,230,314 appropriated as follows: Dividend of TO per cent, for year and bonus of 2£ per cent. £750,000 reserve fund (making £4,750,000), £350,000; carried forward, £130,314. Total, £1,230,314, Cable advice has been received that the Bank of New South Wales has bought out the assets of the Western Australian. Bank. The price is said to be £1,900,000. The combined capital is now £6,700,000. The dividend of Bank of Australasia is due at the end of this month. The dividend of N.Z. Insurance Company is payable this month, viz. lOd per share. The return is low compared with the ruling price but the possibilities of future benefits to shareholders must always be considered where this stock is concerned. Mining shares are quiet and until some return is given to shareholders they will remain in poor demand. The shareholders in Alexander Reefs will be pleased to hear that the reef has been struck in the No. 3 level. Until more particulars are available as to values, speculators will not operate. The Blackwater Mines for January show a loss on operations, but it must be remembered it was a short month owing to holidays. Better returns are expected this year when the levels will be extended to the Prohibition lease adjoining. A company is being forme 1 with a capital of £lO,OOO for the purpose of diverting the Buller River at Newton Flat above Lyell for the purpose of working the river bed. It is proposed to tunnel a narrow ridge and leave about one and three-quarter miles of the river bed dry. Since the early days some gold miners have regarded this river as worthy of development. Rumours are current that a syndicate will shortly give the once boomed Hockstetter claim another try.

AUCKLAND, Feb. 12. Sales: Waihi 16/9, New .Zealand 4$ loan 1938, £96£.

to investors. — 1926 1927 B’k of Australasia 14 1 0 14 3 0 Bank of N.S.W. 4?. 15 0 50 0 0 Bank of N.Z. 2 16 6 2 19 6 National B’k N.Z. 6 12 6 7 1 0 Union Bank of Australia 14 11 0 15 6 0 Colonial Sugar Co. 55 10 0 57' 0 N.2. Drug Co. 3 7 6 3 10 o" British Tobacco Co. 2 5 6 2 12 9