COMMERCIAL

Greymouth Evening Star, 27 April 1938, Page 8

COMMERCIAL

SYDNEY WOOL SALES [BY CABLE —PRESS ASSN. —COPYRIGHT.] SYDNEY, April 26. The wool sales were resumed to-day with an offering of 9249 bales, ot which 7890 were sold, besides 1375 privately. There was keen competition Horn Yorkshire and the Continent, and good support from Japan. Prices compared {with those prevailing betoie Easter, were from par to 5 per cent, higher. Greasy merino made to isa. BUTTER PRICES. (Recd. April 27, 1 p-m.) LONDON, April 26. Butter, firm. Choicest salted New Zealand 126/-, Australian 125/-; unsalted, New Zealand and Australian, 126/-, 127/-. DOMINION’S RETURN CHRISTCHURCH, April 26. * The Dominion this year will certainly receive a considerably reduced return from wool, one of the three main export commodities. The season has now virtually closed, with the final Wellington sale, and the small quantity sold during the next two months till the end of the wool year will make little difference. It appears likely that the return from wool sold at auction will be from £6,500,000 to £7,000,000 less than that for last year, but the total return from all wool sold will be larger. WOOLWORTHS. WELLINGTON. April 26. The directors of Woolworths, Ltd., in a. circular to shareholders. Sive details of their proposals regarding Moolworths Properties, Ltd. The directors state that their policy always has been to conserve the funds of the company as far as possible for the purpose of providing for continual expansion of the company s trading activities. To achieve this object the directors have refrained from purchasing freehold properties, except in those particular instances where it has been found unavoidable or essential in the best interests of the company. The directors are now finding it increasingly difficult to procure new business sites that are most suitable to the company, other than by way of purchase, and having in mind the desirability of securing permanent locations where necessary, and in order also that Woolworths, Ltd., may confine its activities to trading, the directors have now decided to register a separate company for the purpose of taking over from Woolworths, Ltd., freehold properties other than the bulk store at present owned by it, and providing for acquisition of any further properties it may be deemed advisable to secure. For this purpose Woolworths Properties, Ltd., has been registered, with a nominal capital of £2,000.000. divided into 250,000 ordin--1 ary shares of £1 each, and 1,750,000 6 1 per cent, cumulative preference shares of £1 each. It is proposed that the ■ whole of the ordinary capital of the new company will be taken up by Woolworths, Ltd. It is proposed that 296.620 preference shares be offered in . the first, instance to ordinary shareholders of Woolworths, Ltd., who were registered on the hooks of Woolworths, Ltd., on March 21, 1938, in the approximate proportion of their respective ordinary shareholding, inclusive of recent bonus shares in Woolworths, Ltd., which works out at approximately one for every’ 16. based on each 5/share subject to the rights of every ordinary shareholder to apply for a minimum of 20 shares.

PUBLIC TRUST OFFICE. Estates of a value of £ 560,644 were Reported and accepted for administration by the Public Trustee during the month of March, 1938, the new business lor the year being £5,966,359. Grants of administration made by the Court in favour of the Public Trustee numbered' 182 for the month. During the month 427 new wills appointing the Public Trustee executor were prepared on behalf of testators and lodged for safe custody, and 423 existing wills were revised to provide for changes desired by testators. The total number of wills now held in the Public Trust Office on behalf of living persons is 90.474. NATIONAL INSURANCE. DUNEDIN, April 26. The directors of the National Insurance Company of New Zealand Ltd., have declared an interim dividend of 4d a share for the half-year ended March 31. payable on May 17. GOLDFIELDS. TIMARU, April 26. The Goldfields Dredging Company advises a washup of 240 z. 5 dwts for 130 hours. MATAKI. AUCKLAND. April 26. The Mataki return for the period ended April 24 was 28 ounces for 113 hours’ work, and 7100 yards. WAI TA HU DUNEDIN, April 27. ' Waitahu wash-up: 49 oz 12 dwt., for 30 shifts, 8 hours each. STOCKS AND SHARES AUCKLAND, April 27. Sales: Bank of New*Zealand (2) 43/9, South British (5), Wcstport-S-tockton pref. 5/9, Auckland Gas 19/6, Huddart Parker 45/6, P. and O. deferred stock 26/9, Electro Zinc pref. 46/9, Wilson’s Cement 17/3. Sales, 12.15 p.m. call: South British 44/3, Taranaki Oil 7/9. CHRISTCHURCH, April 27.

Sales: New Zealand Refrig. (10/paid) 8/3 (2), Auckland Gas 20/-, Australian Glass 913, Broken Hill Proprietary (cum. div.) 60/9 (2), 60/8, 60/7, 60/6 (2); Colonial Sugar. £4B, Electro Zinc (ord.) 42/6 (2), Electro Zinc (pref.) 45/6, G. J. Coles 79/9, 79/6 (2), Taranaki Oilfields 8/-, Woolworth’s (Sydney ord.) 22/3, Mount Lyell 27/4, Mount Morgan 9/2 (2). WELLINGTON, April 27. Sales, morning call: Taranaki Oil 7/8 (2), Woolworth’s Ltd. ordinary £l/2/2 (2). Sales reported: Denhard ordinary 8/-, G. J. Coles £3 19/11, New Zealand Newspapers £1 17/4, Taranaki Oil 7/8 (3). Overseas listings: Woolworth’s Holdings 15/3 (2). Noon call; 4 per cent, stock 1946, £lO2/-, 1949 £lO2, Union Bank £8

Corporation 4/6, Westport-Stockton Coal pref. 5/9i, British Tobacco 48/1 (two sales), Taranaki Oil 7/8 (three sales 7/9, 7/10), Woolworth’s Ltd. ord. 19/6, odd' lot New Zealand Guarantee 22/2. Bank of New Zealand 43/9, Coles 79/s’ (two sales). DUNEDIN, April 27. Sales: Broken Hill Proprietary £3 0/6 (3) ‘ '