COMMERCIAL

Greymouth Evening Star, 5 January 1934, Page 9

COMMERCIAL

SYDNEY WOOL SALE [BY CABLE —PRESS ASSN. —COPYRIGHT.] SYDNEY, January 4. At to-day’s wool sales; 10048 bales were offered, and 9879 sold. There also were 1263 bales sold privately. The market showed a. general advance of five per cent, the demand being strong in all sections, with Yorkshire predominating. Greasy merino made 33i pence for five bales from Yass. The average price of wool at Sydney sales on the first two days this week was £23/11/4 per bale, or 19d per lb. ADDINGTON MARKET Sales at the Addington market on Wednesday, on behalf of West Coast clients, included: —Fat cattle, Te Kinga Land and Timber Company, 8 steers at £7/2/6 to £B/7/6. NATIONAL BANK OF N.Z. The General Manager of the National Bank of New Zealand Limited announces payment on January 6, of an interim dividend at the rate of 4 per cent, per annum, free of tax, for the half-year ended'September 30 last, .payable in New Zealand, at any branch of The National Bank of New Zealand, at current rate of exchange for demand drafts on London on the date of negotiation. This makes the interim dividend equal to £2/9/7 per cent.

This Bank shows its capital and reserves as under: —Subscribed capital £6,000,000, paid-up capital £2,000,000, reserve fund (mainly invested in Government securities) £2,000,000, reserve liability of shareholders £6,000,000; total £10,000,000; and in addition there are undivided profits carried forward of £114,742. In the balance sheet liquid assets stand ‘at £9,367,000 which are equivalent to 58 per cent, or 11/7d in £ of total liabilities to the public and for every £1 of its own funds the Bank is holding only £3/18/1 of the public’s money, which is a strong position.