COMMERCIAL

Grey River Argus, 10 February 1938, Page 8

COMMERCIAL

STOCK MARKETS. [Per Press Association.] CHRISTCHURCH, February 9. Sales: Commercial Bank of Australia (cum. div.) (pref.) £9 15s, 300 Westport-Stockton Coal 3s 3d, New Zealand Breweries 465, 46s Id (8), Broken Hill Proprietary (contributing) 335, G. J. Coles 78s lid, 79s (3), Woolworth’s (N.Z.) 19s ' lOd (3), Woolworth’s Ltd. (ord.) 24s 7d (2), Mount Morgan 9s Id (5), 9s lid (4), 9s 2d (5), 9s lid (3), North Broken Hill 51s (4). Reported: WestportStockton 3s 4d, 3s sd, Mount Morgan (late sale yesterday) 9s 4d. DUNEDIN, February 9. Sales: N.Z. Guarantee Corporation 4s 7d, Associated News (pref.) £1 4s 6d, Woolworth’s (Sydney) £1 4s 6d (4). WELLINGTON, February 9. Sales, morning call: Dunlop £1 3s. Sales reported: Four per cent, stock, 1955, £lO3 17s 6d; New Zealand Refrigerating 9s 31d, Electrolytic Zinc pref. £2 8s 9d, British Tobacco £2 9s 10id. Sales, noon call: Broken Hill 60s 9d (3), 60s fid, Woolworth’s Ltd. (ord.) 24s 6d (2), Dunlop 235, Hackshall’s Limited 13s Bd, Broken Hill South 33s 7id, 33s 7d, Mount Morgan 9s 4d, Woolworth’s New Zealand (ord.) 20s. AUCKLAND, February 9. Sales: Auckland Gas ex. div. 20s 6d, Wilson’s Cement 18s 6d, W. R. Carpenter 47s 2d, Waihi 9s 7d, Auckland Harbour Board 9/7/57, £lO5. Sales, 12.15 call: Dominion Invest 19s 3d, Pukemiro 18s 3d, Bycroft 435, Woolworth’s (Sydney) 24s Bd. BETTER YEAR. WESTPORT-STOCKTON COAL. A most encouraging result is reported by the Westport-Stockton Coal Company, Limited, for the year ended December 31st, 1937. Output increased and gross and net profits rose substantially. A dividend of 6 per cent, the first since. 8 per cent, was paid in 1922, is recommended on the preference shares. The directors’ report states: “The year’s output was 142,730 tons, as against 108,219 tons during the previous year. After making provision for depreciation and taxation, the year’s operations resulted in a profit of £10,629 18s: To this sum must be added the amount of £8,362 9s 3d brought forward, giving a total of £l7 992 7s 3d. Your directors recommend a dividend of 6 per cent, be paid to preference shareholders, which will absorb £3978 18s 7d, and carry the balance forward. The directors retiring by rotation are Messrs C. C. Farr and C. G. McKellar who offer themselves for re-elec-tion. Messrs S. P. Godfrey and Co. offer themselves for reappointment as auditors.” The accounts show that income and debenture tax took £8824 and depreciation £7229... The secured debentures outstanding were reduced by £18,500 to and cash increased by £6,497 to £22.507.