COMMERCIAL

Greymouth Evening Star, 14 May 1927, Page 7

COMMERCIAL

MALAY RUBBER CO.

(Per Press Association.)

OAMARU, May 12. On Monday the Malay Rubber Company, which is controlled from Oamaru, paid out a dividend of 10 percent for the second time during the current financial year. Shareholders will be interested to know that the damage done on the estate during the extraordinary monsoon rains of December amounted to only £2O or £3O. This is most satisfactory, as damage on other rubber estates was of much greater proportions, resulting in losses totalling several thousands of pounds, while some have been practically forced out of rubber production for years to come. N.Z. PAPER MILLS. DUNEDIN, May 12. The directors of the New Zealand Papers Mills, Ltd., express regret in their annual report that the operations ended on March 31 did not show greater profits. Sales were well maintained, but in part of the year- severe competition was experienced from “dumping” of Canadian paper. Application had been made to the Customs Tariff Commission for some relief. After deduction of the interim £4500 and other- expenditure, the amount available for- distribution is £9589 9s Id. The directors recommend that a dividend at the rate of 6 per cent per annum be paid, absorbing £4500, and that the balance of £5089 9s Id be carried forward. MORRIS COLLIERIES, LTD. Mr W. R. Morris, head and founder of the famous Morris Motors firm of Cowley, Oxford, has become a colliery proprietor. Following the registration of Morris Collieries, Ltd., of which he will be governing director and chairman, he has acquired the Howbeach Colliery, near Parkend, in the Forest of Dean. The colliery covers 1000 acres, and it is proposed to equip it with the most modern electrical plant and sink the shaft 150 ft deeper to reach the rich Highdelf seam. A minimum daily output of 1000 tons is aimed at, which would make it the most important colliery in the Forest ol Dean.

WRIGHT, STEPHENSON AND CO

WELLINGTON, May 12. 2k net profit of £26,562 was secured by Wright, Stephenson and Co., Ltd., for the year ended March 31, which contrasts with £45,656 in the previous year. The net profit is arrived at after deducting provision for bad and doubtful debts, depreciation, and employees’ extra remuneration. There was brought forward form the preceding year £41,349, making available £67,911. The dividend for the year on the ordinary shares is 7 per cent, and after deducting this and the dividend on the preference shares there remains £33,465 to be carried forward.

The paid up capital is £545,632, against £544,357 in the previous year. The debenture stock at £579,493 is slightly greater than last year. Sundry creditors account for £946,264, against £1,057,983. The reserve stands at £77,948, against £72,365, and the profit and loss appropriation at £50,688, against £58,526. The assets comprise freehold and leasehold properties £310,098, against £76,297; motor-cars, horses, etc., £9893, against £14,037; stocks of merchandise, etc., £175,220, against £261,996; advances against dairy produce, meat and wool £92,344, against £149,613 ; sundry debtors, £1,219,207, against £1.206.545; bills receivable £65,756, against £41,116; shares in other companies £195,236- ,against £141,162, Government and other securities and cash £182,407, against £110,591; the total assets being £2,165,025, against £2,311,424. LONDON WOOL SALES. Messrs Dalgety and Co, Ltd., report having received the following cablegram from their London House, under date of May 10 : Wool sales continue. Competition improved. Catalogues being well cleared. Tone of market firmer. STOCKS AND SHARES. (By “Insider.’’) The‘demand for shares continues about the same as last week, mostly banks. From the 9th inst. the interest rate lias been increased g per cent, by the associated Banks of the Dominion. This action has caused a storm amongst the business community ; especially does it appear Tiani when the profits from these institutions are yearly on the increase. ‘What action it will have on the market price of shares remains to be seen. Bank of New Zealand’s have improved slightly, sales last week being 59/9, 60/. This week sales have been made at 60/6. Wales have dropped to £47. This is consistent with value before the last issue of capital. Unions maintain tfieir price, sales £l5 13/ to £l5 14/. The Australian banks are also keenly sought alter. Applications closed on 30th ult for 50,000 new £lO shares at £l4 per share and 100,000 new £5 shares at £7 per share. Transfer books 1 of the Bank of New South Wales closed on 26th ult. in connection with the 31,250 new £2O shares at par in the proportion of one new share for every eleven held as- at 30th inst. Returns offered from Wales shares at various purchase prices would be as foj’low, after allowing for the proposed new issue :— Purchase Price Equivalent

During the year ending March 31. 1927, the Bank deposits have decreased £1.773,000, while the advances have increased £2,561,000, the net indebtedness of the public, to the banks thus being £4,289,000 more than it was a year ago. This adverse state, of affairs has been caused by the drop in prices realised in the Home markets for our staple commodities, but as the export of the season’s produce is still in progress and imports are to some extent being curtailed there is hope that the position may show substantial improvement during the next three months.

Shareholders in the Blackwater Mines will be pleased to note from the last monthly returns that a small pro-

*• fit was realised. It is to be hoped this is only the forerunner of succes- ' sive monthly profits. h ’ - CHbH. STOCK EXCHANGE QUOTATIONS. 1 1 Buyers. Sellers.

cum rights. price ex-rights £49 Or ■ 0 £46 11 8 £49 5 0 £46 16 3 £49 10 0 £47 0 10 £50 e 0 £47 10 0

DEBENTURES- £ s. d. £ 8. d. • 41 p.c. Inscr. 1938 4A p.c. Inscr., 1939 96 10 i, 96 15 0 96 7 6 44 p.c. Bonds, 1939 5 'p.c. 1927 5J p.c. Inscr.. 1927 54 p.c. Bonds, 1927 96 7 6 99 5 0 98 15 (I 99 0 0 99 10 0 54 p.c. Inscr., 1928 1(11 0 0 101 5 0 54 p.c. Bonds, 1933 101 2 6 100 5 0 51 p.c Bonds. 1936 51 p.c. Inscr., 1936 101 5 (I 101 0 0 101 0 0 N.Z. Breweries 1 4 3 1 4 4 BANKSAust. Bank of Commerce 1 14 8 1 15 0 Australasia 14 13 0 14 15 0 Comm, of Australia ... 1 10 9 111 1 do. (Pref.) (» 15 6 6 16 6 Comm, of Sydney 25 0 II ‘ > 4 1 i B.S. and A s 7 ii S f) 6 National of Australasia 1711 0 17 19 0 National of N.Z. 7 3 0 7 5 0 New South Wales 49 10 0 49 15 0 New Zealand 3 0 0 3 0 3 Royal 2 5 9 2 6 9 do. 9 6 6 9 12 0 Union of Australia ... 15 12 0 15 .14 ,0 Western Australia 2 19 3 3 0 0 B.N.Z.L.T. Mortgage ... Bank N.Z. Mortgage ... 12 2 11 0 11 9 do. (fully paid) 1 6 9 INSURANCE— National ... 3 13 3 3 14 0 New Zealand 1 17 3 1 18 0 South British 2 It 3 2 14 6 Standard 2 17 0 3 0 0 LOAN AND AGENCY— Dalgety and Co. 16 0 0 16 4 0 Dalgcty rights 2 17 6 2 18 0 Goldsbrough Mbrtg. 2 10 7 2 10 8 SHIPPING— Howard Smith 1 12 0 1 12 5 Huddart Parker 2 7 3 2 8 9 Union (5J p.c. Cum Pref.) 10 0 1 0 6 and 0. stock 260 0 0 280 0 0 FROZEN MEAT— Canterbury 8 0 0 8 15 0 N.Z. Refrigerating 6 0 6 3 do. 20s paid 14 0 15 0 WOOLLENS— Kaiapoi 9 4 10 0 COALWestport 1 15 6 1 16 3 Westport-Stockton 7 1 4 GASAuckland Christchurch Tim aru 14 4 7 7 6 1 3 9 BREWERIES— Crown Manning 18 9 15 0 19 9 New Zealand 2 11 0 2 12 6 Ward 2 2 3 2 5 0 Staples 1 19 0 1 19 6 Monteith 18 6 1 2 6 CEMENTSWilson’s 1 14 6 1 15 3 TIMBER— Kauri 1 6 0 16 6 MISCELLANEOUS— Beath and Co. 1 13 3 1 13 .8 British Tobacco 2 13 1 2 13 2 Burns. Philp Colonial Sugar 2 2 0 30 10 0 51 15 0 Dunlop Rubber 1 13 6 1 14 6 Elect. Zinc Pref 1 14 0 111 6 Holdens 2 9 0 2 10 0 N.Z. Drug Co 3 2 6 3 3 6 N.Z. Farmers' Co-op. ... 76 10 0 80 0 0 N.Z. Sugar of Milk 12 6 1 10 0 Whitcombe and Tombs 3 10 0 3 11 0 Dom. Home Bldgs. 1 6 6 0 MINING— Kawarau 3 2 3 9 Mt. Lyell 1 7 4 ISO, Waih’i 18 0 18 9 Blackwater Alexanders (fully paid) 5 t 20 0||