COMMERCIAL

Greymouth Evening Star, 16 December 1940, Page 10

COMMERCIAL

STOCKS AND SHARES CHRISTCHURCH, December 16. Sales: Bank of New Zealand 41/;(3), Unlisted: Mikonui (1/- deferred) 5/-. WELLINGTON, December 16. Sales: New Zealand Farmers Fertiliser 22/-, Woolworth’s Properties 25/-. Reported: Macduff's Limited Preference 20/-. SYDNEY, December 16. Sale: Bank New South Wales £27 11/-, Assd. News 13/3, pref 16/7Ad, Colonial Sugar £47 15/-. NATIONAL BANK N.Z.

— ’’ WELLINGTON, December 16. ; ' The General Manager of the Na- [ tional Bank of New Zealand has rei -Ceived the following cablegram from , the London office: “The Board of Di- : rectors of the National Bank of New Zealand order the payment of an in- , terim dividend of one and a-half peri ' .cent., less United Kingdom income 1 ' tax of 8/6 in the pound, in respect of "the year ending March 31, 1941, payable in New Zealand in January, 1941.” WESTLAND LAUNDRIES LTD. The issue of the prospectus of Westland Laundries Ltd. is welcome on the Coast as the company should fill a long-felt want. With a share capital of £10,000,’ comprising 6,000 preference shares "and 4,000 ordinary shares of £1 each, I there should be little difficulty in obj'taining the necessary money in l Westland and the company should (soon go to allotment. The preference Shares carry six per cent, with a right to participate to eight per cent, and '.offer an attractive investment. With fixed assets worth £6OOO and, as it is understood the share capital will not be called beyond 10/- for some time, With uncalled capital on ordinary shares of £2,000 and working capital. of £5OO, the preference shareholders will be well covered for their investment. It would appear that the Company will not require the full amount of the proposed overdraft, land preference shareholders should have a cover of something over £2 for every £ 1 paid up by them.

There is no doubt that with the service that the company proposes to provide at Greymouth, Hokitika and Westport, there should be good support from the public for this venture ■and the substantial pay-roll on the company’s estimate will give employment to a number of Coasters.

Everything should be done to entourage industries in Westland, where they are noticeable by their absence, and it is hoped the new Company reliceives the support that its courage i warrants.

BLACKBALL CREEK. I —— The Blackball Creek dredge return last week was 37 ounces, for 122 hours’ work. NEW DREDGES The Nemona dredge, which has been reconstructed, is to be opened on Wednesday.

The official opening of the new Snowy River dredge, near Ikamatua, is to take place on Friday.