COMMERCIAL. RECORD DEPOSITS IN TRADING BANKS

Greymouth Evening Star, 4 February 1947, Page 3

COMMERCIAL. RECORD DEPOSITS IN TRADING BANKS

New Zealand trading bank deposits ' have reached a new record December deposits being £158,948,000, an increase of £27,478,00'0 oh the 1945 monthly average. Advances 'arid discounts at £66,203,000 were also a record, and .an increase of £ 14,585,000 on the monthly average. Demand liabilities were £122,720,000, an increase of £22,884,000 on the monthly average; net overseas assets, £13,527,000, a decrease of £120,000; Government securities, £25,121,000; a decrease of £4,214,000; and uhexercised overdraft authorities £46,619,000, an increase of £6,345,000. COMPANY NEWS Simpson and Williams, Ltd.— Gross profit of £35,596 ,against £28,984 in 1945 is shown in the account of Simpson and Williams, Ltd. Net profit was £3103 (against £2004) after providing an extra £525 for taxation (£5059). The dividend rate was raised from 81- and 9 per cent, (including 1|- per cent, bonus), absorbing £ 144 u; £5OO was added to the reserve account; £lOOO to the dividend equalisation account, and £163 carried forward. Elder Smith. —Elder Smith, Ltd., announce an interim dividend of 3 per cent, for the half-year ended December 31, payable on March 1. The books will be closed from February 18 to March 1 inclusive.— (P.A.) Weeks, Ltd.—The directors of Weeks, Ltd., have declared an interim dividend of 4 per cent, (unchanged from a year ago) for the six months ended January 31. The dividend was payable on February 1. Levy on Hides.—The Hides Committee announces that the rates of levy on all cattle hides and calfskins have been increased by. Id per lb on all purchases freed for export on and after Tuesday, February 11. The new rates are: Ox and cow,. 16d;_bulls, lOd; yearlings, 17d; calfskins, 26d.— (P.A.) miningjtews Associated Gold.—The dredges of Associated Gold Dredges (N.Z.), Ltd., for the week ended February 1, recovered 90 ounces from 84,228 yards in 360£ dredging hours.