COMMERCIAL

Greymouth Evening Star, 17 June 1930, Page 9

COMMERCIAL

SYDNEY WOOL SALES

[by CABLE—PRESS ASSN. —COPYRIGHT.]

SYDNEY, June 16

The wool sales were resumed today. The offerings totalled 10,091 bales, of which 972 were sold, including GG6 sold privately, under strong competition from Japan, Germany, and France, and limited competition from Yorkshore and America. The market ruled firm at the closing stages of the last series for qualities, fleece and skirtings. The strong purchasing power of Japan, which was a feature of the Brisbane sales recently, was again in evidence. Greasy merino made up to 20 pence. STOCKS AND SHARES. AUCKLAND, June 17. Sales: Taranaki Oil, 2/-. Reported: Commercial Bank, 22/-; Taranaki Oil, 2/2; Northern Steam Ship, con., 6/6; Refrigerating, con., 5/9; Bank of New Zealand, 59/9; Huddart Parker, pref., 19/9. DUNEDIN, June 17. Sales: Kildare lid, Okarito 9/-. Reported Colonial Sugar £421, Milburn Lime 33/6. TEXAS CORPORATION.

i The Texas Company (Australasia) I Limited is a subsidiary of the Texas • Corporation and distributes its proi ducts throughout Australia and New Zealand. The accounts of the parent concern and its subsidiaries for the calendar year 1929 are now available, and reflect an increasing volume of business and a material increase in investment expenditures. The earnings of the corporation for the year 1929, available for dividends and surplus, after deductions for income taxes and all reserves were 48,318,072 dollars (£9,941,992). The gross operating earnings were 213,262,. 170 dollars (£43,881,105), as compared with 190,234,235 dollars (£40,377,415), in 1928. At the close of the year the earned surplus was 150,710,975 dollars (£31,010,489) as against 131,247,826 dollars (£27,005,725) at the end of 1928. The production of crude oil for the year amounted to 1,764,373,975 gallons, and the acreage held at the end of 1929 totalled 5,631,424 acres. Petrol sales for the year reached 1,066,085,930 gallons. Bulk distributing facilities, the report states, were completed in the West Indies, Brazil, South Africa, Australia, New Zealand, and' the Philippine Islands. The current assets of the corporation include cash 27,926,201 dollars, which is nearly 2,600,000 dollars more than at the close of 1928. The marketable securities total 49,727,694 dollars, against, nil in the previous year. Notes or bills receivable at 2,290,517 dollars show a small increase of about 360,000 dollars. Accounts due, or sundry debtors, are shown at 48,029,800 dollars, as against 32,465,949 dollars. The inventories, oi' stocks of merchandise, crude and refined oils, are assessed at 135,850,408 dollars (£27,952,758), as compared with 116,073,738 dollars. Materials account for 7,165,934 dollars and other current assets total 714,571 dollars, the aggregate of the current assets being 271,705.127 dollars (£55,906,404), as against 182,594,888 dollars (£37,570,964) in the previous year. The permanent investments which in elude affiliated and non-affiliated com. panies, bond sinking fund, properties, plant, lands,, leases, wells, oil pipe-lines, and tank farms, refineries, and terminals, tank cars, and other railroad equipment, ships and marine equipment, sales stations, etc., less reserves for depreciation, depletion, and amortization amounting to 215,342,035 dollars, total 311,820,098 dollars, against 266,381,138 dollars, and prepaid and deferred charges are shown at 12,1886,300 dollars, against 6,323,439 dollars. The current liabilities aggregate 39,571,186 dollars, against 62,266,696 dollars in the previous year, and include accounts payable 21,164,715 dollars, accrued liabilities 11,018,530 dollars. The funded and long-term debts stand at 123,416,763 dollars, against 26,112,745 dollars. The common capital stock (par value 25 dollars £5) is 246,251,250 dollars, as compared with 211,083,850 dollars in the previous year. The total of the balance-sheet is 609,853,084 dollars (£125,484,170).