COMMERCIAL

Grey River Argus, 23 April 1937, Page 3

COMMERCIAL

(Per Press Association.)

AUCKLAND, . April 22

Sales: Nat’onal Timber 12s; AltAforgan 14s 9d; Commercial Bank 19s Sd; Farmers’ Fertiliser 21s; Bonds 46/49 £lO2, 52/55 £lO4Sales, noon: Beach Is -7d; Dominion Breweries 445; Alt. Lyell 45> 9d, 465; Zinc. 595; Broken ilil] 82s 6d; Woolwoilth’s (Sydney) £7 4s; Bonds 43/46 £lO3. DUNEDIN, April 22Sales: Broken H’H Pty. (cont.) £3 15s /6d; Elec.. Zinc (ord.) £2 18s 3d (2), £2 ISs, £2 17s 9d, £2 17s 6d, £2 17s 1 3d 1 , £2 17s> 2d; Mount Lyell £2 6s 6d, £2 6s, £2 5s lOd, £2 5s 9d. £2 5s Sd (2); Afount Atorgan 15s, 14s lid, 14s lOd (2). 14s 9d; Regent Theatre £1; Commercial Bank 19s 6d; Bank of New Zealand £2 5s (3); Union Bank £ll 7s; 4 per cent, bonds 1952-55 £lO4CHRISTCHURCH, April 22.Sales: Comm- Bank of Au-t- 19s 6d (2); Bank of N-Z- (cum- d’v-) 44s ;:u, 'Westport-Stockton 3s 6d (pref.); Broken Hill Pty. 82s 6d (2), 82s 5d (2); Broken Hill Pty. (contr.) 76s 6d; Colonial Sugar £44 17s 6d; Electpo. Zinc (ord-) 58s, 58s 3d (3); Electro- Zinc (pref.) 595; G- J- Coles £5 ss; Alount Lyell 46s 3d, 4d, 46s 5d (2), 46s 6d (7); Alount Morgan 15s 3d. AVELLINGTON. April 22. Sales; Amalgamated Zinc 10s Union Theatres Trust. 5 per cent, (pref.) 14s 9d; Hoekshalls Ltd. 15s; National Timber 12s; Bank, of New Zealand 44s 9d; Electro. Zinc (pref.) 59s 3d; Alt- Lyell 46sBERLIN, April 21. The final hai'veHt figures show that wheat declined by 270,000 tons, and rye and oats more heavily. LONDON, Apr ! 21Gold 141 s lid, dollar 492‘j, franc 1104AUCKLAND, April 21’. I The profit of the Northern Roller lAlilling Company, Ltd., for the year ended February 28 befope making provision for income tax, is £11,793, a fall, of £20,774. By calling on undivided profits to the extent of £6635, the directors recommend a dividend for the year of four per cent, aga’nst five and a-half per cent, in the pi<otts year. “This is the completion of the firs year of Government control, ami it results have proved disastrous,’’ say: the report. “Under Government control, the price of wheat was tncrca.ed; the selling price of flouri was reduced; working hours were reduced; the volume of business was reduced; and taxation was increased- ” The directors add that they are re commending payment of a dividend of four per cent- for the year, in the hope that the Government will accoro the company just treatment dtir.ng the present year. They remind shareholders, however, that this is a special occasion, and that future div’ dends cun only be paid out of piiofit' actually earned. After placing £lO,OOO to debts reserve, and paying additional income tax from last year’s carryforward, £50,830, is brought into accounts. The appropriation this year fqr income tax is £5528, while;£39oo has been, paid in preference dividendOrdinary dividend will absorb £9,000 leaving a floating balance or £44,195AVELLINGTON, April 22. An increase of £3 a ton on the price of oatmeal and rolled oats is : nounced from yesterday, making the total increase in the last s’x months £6 ’a ton. Oatmeal is now £25 a to. The 'advance, is expected to repre-ent a halfpenny a pound on the retail priceDUNEDIN, April 21. Further criticism of the proposal t< establish a motor .tyre factory in Chijist.church with the assistance of the Government was made last evening by the president, of the Chamber of Commerce (Mr Newman, AVilson). He stated that the average type weighing 281 b, was already .subject to a duty of approximately 5s lOd if imported from ■ Britain, 7s 2d if from Canada, and 22s lOd if from a fore'gn country. Taking the landed cost. < this tyre as £4, the percentage wot;I be rioughly 7-1 per cent, duty on the truck tyre weighing 481 b, the dut. on British; production would be approximately 10s, on a Canadian tyre 12s 3d and on the foreign-purchased tyre £1 9s 2d.

Protection was one thing, bu t t a monopoly was another, said Air Wilson- The economic factor of compel tion with British ,tyres wa s no sanall one- At present the Minister for Ivi keting (Hon AValter Nash) was England endeavouring to arrange tilade reciprocity. It must be obvioi that New Zealand was not in a posi tion to offend Britain, New Zealand’ chief customer for primary product