COMMERCIAL

Greymouth Evening Star, 24 July 1936, Page 8

COMMERCIAL

STOCKS AND SHARES, WELLINGTON, Jul? 24. Sales: Commercial Bank 18/SA; British Tobacco 40/6; Electro Zinc (pref.) 43/9; Dunlop 18/61; Woolworths N.Z. £5/11/6; National Electric 12/6. CHRISTCHURCH, July 24. Sales: Govt. 4 per cent inscr. 1937-40 £lOl/5/-, P. & 0. deferred stock 29/-, Aust. Glass 90/9, Broken Hill Propty (15/- pd.) 53/-, 52/6, Morts Dock (cum div) 11/5, Mount Morgan 14/5 (2). Reported: Bank of New Zealand Mort Shares 28/6 (odd parcel), United Building Society (late sale 23rd) 20/-, Nemona (late sale 23rd) 1/9. DUNEDIN, July 24. Sales reported, late yesterday: Consolidated Brick 9/6. Govt. Bonds (1946-49) £lO5. , nt ' AUCKLAND, July 24. Sales, morning call: Alexander (15/- paid) 14/-; Mt. Morgan 14/3, Shillings (12/6 pd.) 16/3, Cement 40/4. Bank of New Zealand 40/6, National Bank 65/-, Coles 77/-. Noon: Taupiri 15/6; Broken Hill, Con. 53/3; Standard Insce. 62/-. NEMONA DREDGE RETURN. The Nemona dredge return, for the second wash-up. is 136 ounces 18 dwts, from 18,550 yards of material, treated in 140 hours. WORKSOP RETURN. The wash-up of the Worksop dredge amounted to 36 ounces, dredged in 126 hours from 9,000 yards of material. LAWSON’S FLAT.

For the year ended February, 1936, Lawson’s Flat Gold Sluicing Company, Ltd., recovered- 5910 z 3dwt 17grs of retorted gold, and £4341/5/- was xeceived as net realisation of the gold. The reduced recovery compared with •the previous year was due to a total of about five months lost through causes • connected with the supply of electricity and through the development of a fault in the company s motor.

The annual report of the directors states its publication has been delayed owing to investigations being made with a view to improving the conditions with which the company was faced. Satisfactory arrangements have now been made. The year’s operations resulted in a loss of £1692 4/-, bringing the total of accumulated losses to £4295/12/8 as at February 3 last. This balance •will be reduced by an arrangement with Westland Power, Ltd., whereby that company has agreed to write off the debt of about £2185 due to them on condition that the balance, £1260/15/10, of the deposit with Westland Power, Ltd., is cancelled. On the formation of Lawson’s Flat Company the sum of £2OOO was deposited with the power company to be repaid by means of discounts at the rate of 10 per cent, on monthly accounts for power. Alain items of the balance-sheet are as follow:—Liabilities: Paid-up capital, £17,142/15/-; deposit underwriting preference shares, £675; sundry creditors, £2325/4/11. Assets: Alining property at cost, £5092/5/3; plant and machinery at cost, £6049/6/-; deposit, Westland Power, Ltd., £l26< ? - 15/10; gold in transit, £117; cash in bank, £l5/18/-; cash on hand, £5 11/7: development account, £1697 17/11: preliminary expenses, £1422 0/7: profit and loss account. £ 4295 12/8. CENTRAL SHOTOVER. DUNEDIN, Ju.ly 23. A tribute party working the Central Sliotover claim under lease reports a return of 121 ounces of gold for four weeks. Last month’s wash-up was 140 ounces. WELLINGTON GAS COMPANY. WELLINGTON, July 23. The Wellington Gas Company has advised the Stock Exchange Association that the directors have declared an interim dividend of 4 per cent, for the six months ended June. The amount is payable on August 1.

DOMINION TRADE. An expansion in both imports and exports is shown in the overseas trade returns of the Dominion for the first six months of this year. Exports have risen by £7,122,000 to £34,213,00, and imports by £3,142,000 to £19,860,000. The excess of imports over exports is £ 14,371,000. RESERVE BANK. An increase in demand liabilities to the banks of £195,100 is shown in the Reserve Bank for this week. Demand liabilities to the State have decreased by £80,400, and other demand liabilities by £60,000. The note circulation is £50,300 smaller and other liabilities have increased by £3lOO. A small increase of £4400 in sterling exchange is recorded. Coin has decieased by £7400., and other assets have increased by £10,500.

PETROL PRICES The prices to be charged for petrol in Christchurch, have been fixed at 1/10 a gallon for standard grade motor spirit, and 1/11 for premium grade. This was announced last evening by the Minister for Industries and Commerce (Hon. D. G. Sullivan). The oil companies are to charge 1/7 and 1/8 a gallon respectively, and in return for the fixed price, employers in the trade have agreed to increase wages and reduce working hours genera! Iv.