COMMERCIAL

Grey River Argus, 19 August 1937, Page 7

COMMERCIAL

N.Z. SHARE MARKET. LPer Press Association], WELLINGTON, August 18. Sale, morning call: Gear Meat 18s 9d. Sales reported: 3i per cent. Stock 39/43 £lO3, Wellington City 44/54 £lO4 10s, New Zealand Guarantee Corporation ss, Electrolytic Zinc £3 Is, Shillings £l, Woolworth’s (N.Z.) Ltd. £5 4s 3d, Burns Philp £2 19s 9d, Placer .Developments £4 Is. Sales, noon call: 3 per cent. Stock 1953/7 . £9B 15s, National Bank of New Zealand 60s 6d, Dominion Breweries 40s, Dominion Breweries rights 12s, British Tobacco 51s 3d, Broken Hill 84s 3d, Electrolytic Zinc pref. 61s, Broken Hill 84s 3d, British Tobacco 51s 3d, Broken Hill 84s 6d, Mount Morgon 12s, Burns Philp Rights 34s ,6d, Ooverseas listing: Woolworth’s Holdings Ltd. 16s lid.

The Stock Exchange Association has received cabled advice that the Dunlop Perdriau Rubber Company’s net profit for the year ended June 30, subject to final audit, is £409,761. The Board will recommend to the shareholders the payment of a final dividend of 5 per cent, for the half-year on cumulative preference shares, making 10 per cent, for the year, and a final dividend of 4 per cent, on ordinary shares, making 7 per cent, for the year. AUCKLAND, August 18. Sales: Commercial Bank 18s 3d, 18s 4d. Zinc 60s, Farmers’ Trading 20s 9d, New Zealand Newspapers 38s, Roller Mills 21s 6d. Wilson’s Cement 21s, Grand Junction 2s lOd, Bonds 15/6/52-55 4 per cent. £lO5 ss, Dominion Breweries (rights) 125.. Unlisted: Selfridge’s (W.A.) 12s 6d. Sales, 12.15' p.ip. call: Zinc 60s, New Zealand Farmers’ Fertiliser 20s 7id, Woolworth’s Holdings (S.A.) 17s Id, Broken Hill South 50s. Unlisted: Woolworth's (Sydney) £6 12s 6d, £6 11s 6d. CHRISTCHURCH, August 18. Sales: Commercial Bank of Australia (cum. div.) 18s 4d (2), New Zealand Guarantee Corporation 5s (5), 5s 2d, Gear Meat 18s 9d, Broken Hill Proprietary 84s 3d, Cox Bros, (cum, div. and bonus) 22s 9d, Dunlop Rubber (cum. div.) 24s 6d (2), 24s 5d (2),'G. J. Coles 99s 3d, Hume Pipe (Aust.) 20s Bd, 20s 9d, Broken Hill South 49s 8d (2), 49s 6d, 49s sd, Mt. Lyell 44s lOd. Reported: New Zealand Guarantee Corporation ss, Gear Meat 18s 9d (odd parcel), Kaiapoi Woollens (17s paid., late sale yesterday) 14s 3d (odd), G. J. Coles £5, Shillings Ltd. (late sales yesterday) 19s lid, £l, Wellington Alluvials 6s 9d (3). Unlisted: McKenzie’s Department'Stores 86s 9d, Woolworth’s (Sydney, ord.) £6 12s, £6 Ils 6d. DUNEDIN, August 18.

Sales: New Zealand Refrigerating (cont.) 9s 6d, G. J. Coles £4 19s 3d, Mount Lyell £2 4s lOd, McKenzie’s Department Stores £2 6s 6d. SYDNEY, August 18.

The Broken Hill Proprietary has announced a net profit of £1,183,170 for the year ended May 31. The dividend of 31 per cent. requires £559,880, and £279,748 will be caried forward. The working profit was £2,149,516. Production constituted a record’: BRITISH TRADE RETURNS. LONDON, August 17. Gold 139 s 6d, dollar 498 15-16, franc 132 15-16. The Board of Trade returns for July show imports £85,505,000, exports £47,569,000, re-exports £6,803,000. The principal increases compared with July last year are as follows: Imports, grain and flour £2,848,000; fresh fruit' and vegetables £622,000; other food £458,000; iron ore scrap £736,000; wood and timber £2,486,000; wool raw waste £887,000; seeds and nuts £707,000; hides and skins £735,000; rubber £994,000; non-ferrous metals manufactures £2,820,000; machinery £882,000. Exports, coal £1,062,000; iron and steel manufactures £1,086,000; cotton yarn manufactures £726j000; vehicles £1,061,000. Re-exports, non-ferrous metals manufactures £1,158,000. Decreases: Imports, cotton raw waste £1,308,000. Buoyant revenue is a continued feature of the Exchequer returns. The total of ordinary revenue amounts to £228,052,063, compared witn £210,961,519 at the corresponding date last year. Income tax at £39,074,000 has yielded £4,709,000 more, so far this year. ■ The growth of overseas trade raised receipts by over five million sterling to £81,713,000. The total of expenditure, less self-balancing items was £310,346,643, compared with £293,517,639 on the corresponding date of 1936. Over two million sterling of the increase is due to higher cost of interest and management of the National Debt. Timber Industry MILLERS’ FEDERATION.

WELLINGTON, August 18. Opening the annual conference of the New Zealand Sawmillers’ Federation, Mr Langstone, Commissioner of State Forests, quoted an array of figures to show the terrible effects of the slump period on the industry, and in the provision of homes for the people, the loss to building trades and the loss to youth, for the want of openings in these trades. He said that when the housing servey was completed, it would show a shortage of tens of thousands of houses, and the sawmilling and allied trades, he suggested, could look forward with confidence to a busy future. It was the proclaimed policy of the Government to use in State dwellings as much New Zealand material as possible, and to spread the materials used over as wide a field as possible. For instance, New Zealand tiles were being used, instead of' imported corrugated iron. Speaking of the curtailment of the export of white pine, he said that, much as he regretted this, they must preserve and protect New Zealand interests, and he felt sure, for the most part, the Federation will co-operate with the Government in providing the necessary white pine to meet the requirements of the dairy industry, which plays such an important part in the export trade. BUTTER AWARDS. AUCKLAND, August 17. The judging of the butter and cheese sections at the Auckland Winter Exhibition was carried out today by officers of the Government dairy produce grading staff. The New Zealand butter championship was won by the Golden Bay Co-operative Dairy Company (Nelson) and the provincial

championship by the Bay of Plenty Co-operation Dairy Company. Hawke’s Bay won the New Zealand cheese championship and the Hauraki Plains Dairy Company won the provincial championship. There were 131 entries in the butter section and 94 in the cheese section. Commenting on the entries, the judges stated that the general quality of both butter and cheese was pleasing and satisfactory. The awards for the New Zealand . Butter Championship, box- of butter (281 b salted, suitable for export, were: Golden Bay Co-operative Dairy Company Ltd., 1; United Co-operative Dairy Company Ltd., 2; Tairua Co-opera-tive Dairy Company, Ltd., 3; Rangi-wahia-Ruahine Dairy Company, Ltd., v.h.c. _