COMMERCIAL

Grey River Argus, 14 June 1935, Page 2

COMMERCIAL

WELLINGTON, June 1

A cablegram from Goldsborougli Mort«, Ltd., reads Net profit for year ending March 31, £101,188; brought, forward from last year £177.188 making £278,376 le.-s interim dividend of 2 per cent, in December last, £4B, 0()0. The directors recommend a final dividend of 4 per cent., £96,000., which with the interim dividend makes a to'tal distribution of 6 per cent, for the year; transfer to provident fund £3OOO, and carry forward £131,376. LONDON, June 12. Gold 140/9, dollar 494 3-16. franc 74 15-16. CHRISTCHURCH-, June 13. ’Change: Goldsborougli Mort. (cum. div.) 29s 7d (3); N.Z. Refrig. (10s paid) 8s lid (3); Broken Hill Pty. 5510d; Quill Morris (in liquidation) 4s U‘d: Maori Gully Is sd; Skippers 24. (4); Waidii 375». reported: Kauri Tim ber 2-0 s 3d; Reserve Bank £6 10s. AUCKLAND. June 13. Sales; Taupiri. 16s 8d; Westport 20s lid; Refrig. 19s 9d; New Zealand Newspapers 38s 6<l; Berlei 455; Burn-' Philip 61s; Stocks 1937-1940 £lO3 1952-1955 £ll2 15s. DUNEDIN, June 13. Sales reported: Westport Coal (two late yesterday), Mount Lyell £1 0s ? Mt. Morgan £1 16s; 4 per cent. Stock (1943-1946) £lO7 10s. WELLINGTON. June 13. Sales reported: Four per cent. St<ock 1940 £lO3, 1946 £lOB 2s 6d; 1949 £lOB ss. Sales: Timaru Brewery Con. Ss 4d ; Big River 2s 3d. RUGBY, June 11. Tim Manchester Corporation 3 per rent, loan of £4,000,000, which was olTered last week at £99 per cent, is stated to have been over subscribed 33 times. Dealings began to-dav an.l finished at a premium of 15s Gd. It was the first municipal loan to be floated after a respite from issues of this kind for four months, but anotln-r two will follow before long. To-day, the CarditT Corporation approved the issue of new stock to the value of £15,000,000 at 3 per cent., the purpose of which is to extinguish the two existing 3J. per cent, issues, one of which is dm* for repayment in Julv. The stock will be issued at £99. OTTAWA. June 12. Mr Bennett informed Par’iament that the selling agency of the Western wheat pools holds 225,000,000 bushels, hi Government credit. GERMAN WOOL SUBSTITUTES. LONDON, June 12. Not the least valuable aspect of the Wool Conference at Berlin was that it enabled Australians to see for themselves the real position of artificial wool, about which they are not now so apprehensive as before. One of the experts brought back the latest wool fibres, which are decidedly eottonish. German wool magnates themselves opposed the widespread adoption of the substitute, not only because it means installation of new machinery, idling some of that existing, but because of the harm to Germany’s reputation of manufactured wool on the re-export, market. It is admitted that there is a tie-'d for the new fabric among the poorer Continentals, but it is recognised it would never compete with the best West of England cloths. SYDNEY WOOL SALES. (Received June 13. nt 10 p.m.) SYDNEY, June 13. At to-day’s wool 6,684 bales were offered, aiud 5,632 bales were sold, al.s’o 774 bales were sold privately. The market closed firm, with prices equal to the best poin't of the series. There vas an insistent demand for good spinning descriptions. Greasy merino made 2 0 f d.