COMMERCIAL

Grey River Argus, 17 September 1937, Page 2

COMMERCIAL

N.Z. SHARE MARKET. [Per Press Association]. WELLINGTON, September 16. Sales, morning call: Bank of New Zealand. £2 ss; Australian Glass £4 12s (2). Sales reported: 4 per cent, bonds 1946 £lO3 ss; 4 per cent, bonds 1955 £lO5 2s 6d; Kauri Timber £1 2s; Broken Hill £3 17s; Taranaki Oil 6s 7Jd; G. J. Coles £4 16s (odd lot); McKenzies Department Stores £4 6s 6d. Sales, noon call: Four per cent, stock 1955 £105; Broken Hill 77s 6d, 77s 3d, 775; Coles 965; Colonial Sugar £47 2s 6d; Shillings 19s 6d; Mt. Morgan Ils lid. CHRISTCHURCH, September 16. Sales: Bank of New Zealand 44s 9d (2); Broken Hill Pty. 76s 9d; Electro. Zinc (pref.) 565; Taranaki Oilfields 6s 8d; Woolworths (S. Africa) 16s Id (2); Mount Lyell 42s 6d (3). Reported: New Zealand Farmers’ Coop. (first pref., cum. div.) 72s 6d; Bank of New South Wales £3l 17s 6d (2); Dominion Breweries 40s 9d. DUNEDIN, September 16. Sales: G. J. Coles £4 15s 3d; Mount Morgan Ils. AUCKLAND, September 16. Sales: Commercial Bank (pref.) £9 ss; National Insurance 18s 2d; Broken Hill Pty. 775; Dominion Breweries 41s; Colonial Sugar £47; McKenzies 86s 6d; Taranaki Oil (2) 6s 7d; Coles 95s 3d; Martha 15s 3d; Stock 15/1/5357 31 per cent. £99, 15/6/52-55 4 per cent. £lO5 ss.

Sales, 12.15 p.m. call: Commercial Bank 17s 4d; North Auckland Farmers’ B pref. 10s 6d; Broken Hill Pty. 775, 77s 3'd (2); Farmers’ Trading B (pref.) 22s 9d; Coles 95s 6d; Wilson’s Cement 20s 9d; Woolworths (N.Z. pref.) 38s 3d; Mount Lyell 42s 6d. Better earnings and an increase in dividend are the features of the accounts of Pukemiro Collieries, Ltd., for the year ended August 31. After allowing £4OOO for depreciation (against £2391 last year), net profit is £1366 higher at £7841. An interim dividend of sixpence a share, equal to 2i per cent., was paid in April. The directors now recommend a final payment of 4i per cent., making 7 per cent, for the year, against 6 per cent, in the last two years. The balance of profit transferred to the appropriation account is £ll,Bll, which, with £1756 brought in, makes £13,567 available. The interim dividend of £2500, and depreciation absorbs £6500. The final dividend now recommended requires a further £4500, leaving £2567 to be carried forward. Provision for income tax, which was made before profit was estimated, was £5600.

HIGHER BUTTER PAY-OUT. PALMERSTON NORTH, Sept. 15. Butter companies in the Manawatu area have decided to make a monthly advance payment of Is OJd for finest grade. The rate is a penny higher than last season’s monthly advance, whereas the new guaranteed price is only 11-16 d higher. The general opinion is that further increases in manufacturing costs are inevitable. It is evident that as the companies are advancing on a more liberal scale, a lesser amount will be available for distribution as deferred payments at the end of the season.

the Paris Exchange, and the franc is quoted widely. London discount and short loan interest rates, and New York call money are unchanged. The franc is quoted at 142 7-8 to £l. The dollar is 4.94 to £l. Gold is £7 0s 6d per ounce. Dawson's says that the political tension has affected the wool markets. Bradford is pessimistic, and confidence has been rudely shaken. There is, however, no apparent statistical reason. Lower prices are probable. Some uneasiness exists as to whether the rate of wool production established in recent months can be maintained. The Japanese position, owing to military requirements, causes no misgivings. Trade generally is well able to meet the present difficulties, with a minimum of dislocation and anxiety. Manufacturers are well placed with orders, especially in the worsted section. At the London wool sales, 8584 bales were offered, including 4136 New Zealand, and 5954 were sold. A good selection, with slightly improved competition for better kinds, at generally maintained rates. The Home trade was the chief buyer. New Zealand slipe halfbred lambs, Kaiapoi, top price 22d, average 19 7-Bd.