COMMERCIAL

Greymouth Evening Star, 20 May 1938, Page 8

COMMERCIAL

GOLD AND EXCHANGE. [RY CABLE —PBESB ASSN. —COPYRIGHT.] LONDON. May 19. Gold 140/lJd, dollar 496 5-8, franc 177 5-Bd. BUTTER AND CHEESE LONDON, May 19. Butter: Idle nominal prices. Danish 127/- and 128/-, choicest salted New Zealand 129/-, Australian 126/- and 127/-. LONDON WOOL SALES (Rec. May 20, 2 p.m.) LONDON, May 19. At the wool sales, 4529 bales were offered, including 2832 New Zealand; 3859 were sold. A moderate selection offered, chiefly New Zealand crossbreds. These together with Australian Merinos sold actively to the home trade in sellers’ favour. New Zealand greasy crossbred 10?. —Hid. Slipe halfbred lambs Eclipse 10:,’d —11(1.

STOCKS AND SHARES. DUNEDIN. May 2(1. Salos: N.Z. Refrigerating 18/9, Otago Daily Timos £2/6/6, Mount Lyell £l/5/4. WELLINGTON. May 20. Sales: 31 per cent. Stock 38/52 £lO2 5/-. Carlton Brewery £3/6/10?.. Woolworth’s Ltd., Ord. £l/2/:’,. Woolworths (N.Z.) Ltd. Ord. £l/1/6. Sales reported: 3?; per cent. Stock 39/43. £lOO/5/(2). Dunedin City 4j per cent. 4S/52 £lO4, Broken Hill £3/2/-, G. .1. Coles £4/4/7?., Taranaki Oil 8/9 (2). Sales. Noon Call: .”>?• Per Cent. Stock 39/43 £lOO/5/-. Colonial Sugar £4B 12/6. British Tobacco 48/6. G. J. Coles 84/9, Moturoa, Oil 3/10, New Zealand Paper Mills Rights lOd. CHRISTCHURCH. May 20. Sales: Commercial Bank of Australia 16/2, Goldsbrough Mort. 30/9. Broken Hill Proprietary (cum. div.) 61/-. Colonial Sugar £4B/12/6. Electro Zinc 40/8, Electro Zinc (pref.) 45/3, 45/2. Broken Hill South (cum. div.) 30/-. Mount Lyell (cum. div.) 25/2. Reported: National Bank oT Australasia < £5 paid) £6/19/-. AUCKLAND, May 20. Sales. 10 a.m. call: National Bank (2) 52/6. Auckland Gas 20/7, G. ,1. Coles 84/9. Paper Mill Rights 9d. New Zealand Refrig. IS/9. Taranaki Oil 8/10, Wilson’s Cement. 17/-. Unlisted: Southern Cross Investment 3/6. | Sales, 12.15 p.m. Call: Commercial Bank 16/2, New Zealand Breweries 45/-, British 'tobacco 48/6. Broken Hill Prop. 61/6. Con. 38/-. G. .1. Coles 84/-, Palmer Collins 32/-. Woolworth’s His. 3/9?.d, Mt. Lyell 25 '3.

r.ESEIiVE BANK. The seasonal downturn in the note issue has now apparently set in in earnest, this week's total as set out in the Reserve Bank figures being £127.500 below that of last week. Demand liabilities to the State are shown at £36.500 higher and those to the banks at £436.200 higher, and those to others at £54.600 higher. On the assets side, sterling exchange shows the substantial increase of .£367.500, Investments are £84,900 higher and there is a slight increase in coin. Advances from the Primary Products 'Marketing Department. Account have been reduced by £48,500, and other assets liy £3.300. A.M.P. SOCIETY The Australian Mutual Provident Society advises that (lie ballot for the election of iwo directors at lhe head office in Sydney resulted as follows: Dr. George Henry Abbott. 82,776 votes: Mr. William Aherdien Mackay. 81.097; Mr. John Edward Garvan. 9,950. Dr. Ahhei i and Mr. Macka.v have

been elected. PUBLIC TRUST OFFICE. Statement for April:—Estates of a value of £316.077 were reported anil accepted for administration by the Public Trustee during the month of April. 1938. Grants of administ rat ion made by the Court in favour of the Public I’l’iisteo numbered 132 for the month. During the month 372 now wills appointing the Public Trustee executor were prepared on behalf of testators and lodged for safe custody, and 295 existing wills were revised to r.rovide for changes desired by testators. The total number of wills now held in the Public Trust Office on behalf of living persons is 90,714.

N.Z. NEWSPAPERS Speaking at the annual mooting of shareholders in New Zealand Newspapers, Ltd., lhe chairman of directors. Sir Cecil Leys, drew attention to the heavy burden of taxation. The last year had seen 1 no relief, ho said, and £10.550 had boon sot aside for land and income tax.

“The company also paid to the Treasury £5,042 collected as wages tax from employees,” the chairman added. “The company’s contribution to the pensions and provident fund for the year was £6,085, which I bold can reasonably be classed with taxation, as it must, to 1 that extent relieve the public funds. The total of these items is £51.677, while' for local body rates £2,644 has had to be found." The amount, available for the 1.065 shareholders whose capital was used to produce the money to meet these charges was £39,833.” Expenses had increased iu all directions and the wages bill alone absorbed £156,652, which was £14,571 more than in the previous year. Taking the difficulties of the period into consideration, however, the chairman stated. it could be l accepted as satisfactory that the net profit at £49.000 was approximately £lO6O greater. The retiring directors, Messis. E. Anderson and W. H. E. Flint, were- reelected.

MINING RETURNS. MOSSY CREEK. Mossy Crcelr dredge return for the past, week was 330zr.. lOdwts. for 132 hour:;’ dredging, -and 7,585 yards of wash. NEMGNA DREDGE. The return from the Nemona dredge is 53ozs. in 125 hours. from 15,200 ya rds.