COMMERCIAL

Greymouth Evening Star, 29 April 1938, Page 8

COMMERCIAL

GOLD AND EXCHANGE. [BY CABLE —PBESS ASSN. —COPYBIGHT.] LONDON, April 28. Gold 139/6, dollar 49SJ. franc lGlx, BUTTER AND CHEESE. (Received April 29, 1.1.30 a.m.) • LONDON, April 28. Butter is firm. Danish 127/-; Choicest salted New Zealand and Australian 127/-. Unsalted. New Zealand 129/-; Australian 128/-. Cheese is weaker. New Zealand White 68/-; Coloured 68/6. Australian White 67/-; Coloured 68/-. SYDNEY WOOL SALES. SYDNEY, April 28. At. the wool sales, competition was well sustained at yesterday s improved levels. Chief support came from the Continent, Yorkshire, and Japan. Greasy merino made 22Jd. The offering amounted to 8492. bales, of which 7510 were sold at auction as well as 2300 privately. RABBITSKIN SALE. DUNEDIN. April 28. The first fortnightly rabbitskin sale of the season was held to-day. when a good offering was submitted to a large attendance of exporters, furriers, and representatives of the local trade. The general tone of the market was better, and competition was more spread; but at. time was a little erratic, as compared with previous sales. Quotations for belter grades were fully firm, but lower descriptions were at par to Id easier. A few parcels of winters were forward and commanded keen competition, first early winter bucks selling to 50(1, incoming winters to 44Ad. and second early winter bucks to 35/-. Following is the official range of prices:—■ Small 4d to 5(1, runners 9.R1 to lOd. summers 10(1 to 101(1, light racks 162(1 to 17.]d, prime racks 16Jd to 173 d. (lawny autumns 173 d. early autumns 233 d to 24.1(1, late autumns 30d to 343 d, second incomings 2Sd to 30. incomings 39d to 44Ad. first, early winter bucks 50(1, second early winter bucks 35d. milky S3d to 9Ad. winter fawns 153 d 1 to 17d, summer fawns Old. summer I blacks 93d to 103 d. autumn blacks 14d to 15d, hareskins 93d to lid, horsehair ; 243 d to 25:}(1. ,

RESERVE BANK. An advance of £855,000 is recorded in the total of sterling exchange held by the Reserve Bank in the bank’s statement, for this week, The only other movement of note among the assets is a decline of £167,100 in the amount of advances outstanding in the Primary Produce Marketing Department account. Notes show a. further slight, increase of £54.800, but will probably decline shortly as the effect of the holiday works out. Demand liabilities to the State have fallen by £750,000. but. those to the banks have risen by £1.057,400, and to others by £50.100. Other liabilities have increased by £274.000. COMPANY REPORTS. WOOLWORTHS. LTD. WELLINGTON, April 28. .The Stock Exchange Association has been advised by the general manager of Woolworths (N.Z.), Ltd., that advice has been received from Woolworths. Ltd., that owing to complications arising in connection with the rights of ordinary shareholders to apply for preference shares in Woolworths Properties. Ltd., the directors of Woolworths have decided to register on May 14 all transfers of shares purchased before April 23. They will send out notices io new shareholders and also to old shareholders where their holdings have been increased in consequence of this action, thus not reducing the existing rights of shareholders registered on March 31. DOMINION FERTILISER. DUNEDIN. April 28. At a. meeting of the directors of the Dominion Fertiliser Company, Ltd., this afternoon, it was decided to recommend to shareholders at the annual meeting, to be held on June 7. a dividend of 6 per cent, for the year ended March 31. 1938. Dividend was 5 per cent. last. year. P. AND O. LONDON, April 27. The P. and O. Steam Navigation Company announces a 5 per cent, preference stock dividend, and an interim of 2| per cent, on deferred stock. Dividend for the full year last year was 5 per cent, on preference and 4 per cent, on deferred stock.

A.M.P. SOCIETY. The' Australian Mutual Provident Society reports for the year 1937 that the new business completed in the ordinary department, including reassurances of £326,331, comprised 62.652 policies, assuring £24,176,655, and 171 annuities for £44,508 16/7 per annum./In the industrial department, 123,928 new policies were issued assuring £7,551.044 15/-. These sums assured represent an increase over the corresponding sums for 1936, of £2,300,631 in the ordinary department, and of £1,447,648 13/- in the industrial department. Claims by death in the ordinary department amounted to £2,807,623 12/8, including £1,068,793 2/4 for bonus additions, after deduction of amounts which had been reassured. Endowment and endowment assurance policies matured amounting to £1,623,464 3/-, including £513,993 8/- for bonus additions. Policies assuring £5.099,219 3/-, and annuities amounting to £7BBO 8/10, became void from other causes. Claims by death and maturity in the industrial department amounted to £1,101,513 3/9. . The total of the accumulated funds of the ordinary an industrial departments has been increased by £5,225,625 3/4, and now amounts to £108,411,880 l/8„ which includes £12,873 17/1 in the claims investment account, and £12,262 5/7 in the disability fund.

The directors decided to release a sum of £50,000 from the investment and contingencies reserve funds, which now amount to £2,102,503 3/5, and to utilise the amount to write down the book values of the office premises. In addition, provision has been made for accrued taxation amounting to £.100,000 The Society’s investments in various loans to the Commonwealth and States of Australia, to New Zealand, and other Dominions, to Great Britain, and t.o. local government and other public

bodies in Australia, New Zealand, and other Dominions amount in all to £64,412,328 2/8. The actuary’s report shows a surplus of funds over liabilities in the ordinary department of £3,054,782 4/3, out of which £109,899 5/7 is to he carried forward, and £2.944,882 18/8 is to be allotted for distribution among the participating policy-holders. This will provide reversionary bonuses of* about £5,076,000. The surplus in the" industrial department, which is to be distributed among participating policyholders. is £327,884 12/9, providing reversionary bonuses amounting to about £435.000. ’ MOONLIGHT GOLDFIELDS, The Moonlight Goldfields Company Ltd., advise that the wash-up on April 27, was 8107. for 270 horn’s sluicing. MOSSY CREEK. The Mossy Creek return, is 370 z Bdwt for 102 hours and 856.3 yards-. NEMONA RETURN. The Nemona return for this, week was: 61 ounces. 99 hours, 12,300 yards dredged. A short week was worked on account of the Anzac Day holiday. STOCKS AND SHARES. AUCKLAND, April 29. Sales: Commercial Bank 16/4£; New Zealand Breweries 44/3; Broken Hill Prop. 60/2; New Zealand: Refrig. (Con.) 8/3; Woolworth’s Sydney, 24/4: Stock 15/2/43/46. £102; Stock Sept. 39/43, £lOO/2/6. Sales 12.15: Bank of New Zealand 43/9; British Tobacco 48/6; Electrolytic Zinc. Pref. 46/-; Taranaki Oil 7/9: Woolworth’s Sydney. Rights 3/3; Mt. Morgan 9/2; Stock, Nov. 38-52. £lO3/7/6.

CHRISTCHURCH, April 29Sales: Broken Hill Propty (cum div.) 60/6 (2); Electrolytic Zinc (Pref.) 45/3 (2): Broken Hill South 30/3 (2). Reported: New Zealand Breweries (late sale yesterday) 44/3. WELLINGTON, April 29. Sales, morning call: Union Bank £8 19/6, Bank of N.Z. £2 3/9, G. J. Coles £4. Sales reported: National Bank N.Z. £2 14/6, Auckland Gas 19/9. National Insurance 17/7, Carlton Breweries £3 5/4RI, G. J. Coles £3 19/9, £4. Sales, noon call: National Insurance 17/7. Taranaki Oil 7/6, Three sales Wool'worths Limited Rights 3/-, two sales 2/10, four sales Broken Hill 6/3, two sales G. J. Coles 79/9, two sales 8/-. British Tobacco 48/1. ( . DUNEDIN, April 29. ( Sales: 4 per cent. 1946/49 £lO2 5/-, 3J per cent Stock 1938/52 £lO3 7/6, Southland Frozen Meat ord. £1 7/10; Westport Coal £1 3/9, British Tobacco £2 8/4, £2 8/41d, Crystal Ice £2 5/-, Taranaki Oil 7/7, Woolworths Ltd. £1 2/4. £1 2/4Jd, Broken Hill South £1 10/4 (2), Electrolytic Zinc (pref) £2 5/3.