COMMERCIAL

Greymouth Evening Star, 5 September 1938, Page 8

COMMERCIAL

HEREFORD BUDDS. [FEB PEEBS ASSOCIATION.] GISBORNE, September 3. An average price of more than 88 guineas was paid for 28 horned two-year-old Hereford bulls offered at auction on account, of Hutchinson Bros.. Waihuka, yesterday. The price is considered to be the highest ever paid in the Dominion for Hereford stock. The second draft of progeny from Pauntaon James (imp.) was offered, ■ prices ranging- from 75 gns to 175gns, and averaging- 130gns. STOCKS AND SHARES. WELLINGTON, September 5. Sales reported: Bank of Australasia £lO/12/6, National Bank of New Zealand £2/12/6, New Zealand Refrigerating 8/-, Carlton Brewery £3/3/5, G. J. Coles £3/18/6. Sales, noon call: Myers Emporium (pref.) 35/-. Unofficial list: Woolworth’s Properties (10/- pci.) 14/-. AUCKLAND, September 5. Sales, 12.15 p.m. call: Alloy Steel (Australia) (2) 7/-, Wolworth’s Holdings 15/2, Wellington Alluvials 5/7. CHRISTCHURCH. September 5. Sale: New River 6d. DUNEDIN, September 5. Sales: Dunedin City Debentures 4.] per cent. 1/4/53 £lO3/10/-. N.Z. Refrigerating Cont. 8/-, B.H.P. £2/17/3, Woolworth’s (Syd.) £l/1/-, Grey River 13/6. KOTTERANGT LIME CO. The 15th annual report of the Koiterangi Co-operative Lime Company, Ltd., states: Sales of lime were 459 tons, for the year a considerable reduction on last year, brought about by the disastrous fire to the binns and machinery—and a heavy loss financially to the company—but since the plant has been in operation again the works have been kept going continually. The plant is in very fair order. Some minor repairs are necessary to the pipe line and cottage. The Company is asked to consider putting in a plant to overcome the hammer and drill method of drilling holes for quarrying, thereby lessening the cost of produtcion. The quality of the lime has been again very satisfactory. Messrs. J. Monk, J. Fleming and M. Wallace are retiring directors, and are eligible for re-election. Costs of manufacture, 14/2, were 8d per ton cheaper than last year. KAIAPOI WOOLLEN CO. A drop in gross earnings to £86,631, compared with £93,094 in the previous year, is disclosed in the annual report of the Kaiapoi Woollen Manufacturing Company, Ltd. The net profit declined by £5,774. The ordinary dividend has been reduced from five to four per cent. The preference dividend is still the usual five per cent. Transfers to taxation and general reserves, which last year took £2,500. are not recommended in the report just, issued. Depreciation this year takes £5OOO, against £7OOO a year ago. The directors’, report states that trading conditions in the early part of the year were reasonably good, but considerable recession occurred in the second half of the year; and this factor, together with the heavy increase in taxation and working costs, curtailed the surplus. Land and income tax reqiiirements amounted to £11,709 —almost sufficient to pay five per cent, on the • ordinary capital of the company. Stocks at £294,226 are £32,332 higher than a year ago. Properties and plant have i increased by £18.381, principally accounted for by' additions to plant. TODD MOTORS. The statutory report of the directors of Todd Motors Corporation. Ltd., which was adopted at the statutory meeting last week, states that the total number of preference shares allotted to August 12 was 154,475. all of which were issued for cash. The total amount received by the company in the respect of these shares, and of two ordinary shares allotted for cash, was £153,090. Payments to the same date were £152,552, being to the vendors of the shares in Todd Motors, Ltd., and Todd Motor Industries, Ltd., leaving a balance of £538.

MINING RETURNS. GOLDEN DAWN. Golden Dawn Gold Mines, Ltd., report that for the month ending August 31. 364 tons of ore were treated for a return of £9Ol at £7/2/- a gold ounce. WORKSOP EXTENDED The Worksop Extended Gold Dredging Company, Ltd.’s return for the week ending September 1, is as follows: 42 ounces for 117 hours, from 8000 yards. NEW RIVER The New River return is 45 oz from 7,500 yards, in 100 hours. WHITE’S ELECTRIC. The White’s Electric return is IGoz from 7.500 yards, in 100 hours. GILLESPIE’S BEACH. The Gillespie’s Beach return is 470 z ISdwt for 127 hours and 15.852 yards. BLACKBALL CREEK. The Blackball Creek dredge return was 49ozs from 12,000 yards of material in 130 hours. OKARITO, DUNEDIN, September 5. Olmrito washup: 30oz. 3dwt. for 110 hours.

NANCARROW & CO. (P. C. HEAPITY :: E. WARNES) STOCK AMD SHAREBROKERS, 59 MACKAY ST., GREYMOUTH. J£ clGDllonoß 133 «ind 163. A. V. McLUSKIE SHAREBROKER, COMMISSION AND INSURANCE AGENT 10 Werita Street. Greymouth. Phono 678 •:; ; p.p Box lflB JAMIESON, JOYCETCO~ STOCK AND SHAREBROKERS. Country Members Christchurch Stock Exchange, Ltd. JOYCE AND TAYLOR’S BUILDINGS Guinness Street. ’Phone 628 :: P.O. Box 185. I