COMMERCIAL

Grey River Argus, 19 May 1938, Page 11

COMMERCIAL

N.Z. SHARE MARKETS. » WELLINGTON, May 18. Morning call: Taranaki Oil 8s 9d (2) Woolworth’s New Zealand ordinary’ £1 Is Id Sales reported: McKenzie’s £3 7s 6d; Woolworth’s Limited, I ordinary £1 2s 2d (2). Unofficial list. Woolworth’s Holdings, South Africa 16s 2d. Sales, noon call: Auckland 7larbour Board 4} per cent. 9/7/55 £lO6, New Zealand Breweries 45s Id, Motorua Oil (ord ) 3s 9d, Taranaki Oil Ss lid, Woolworth’s Ltd. (ord.) 22s Id. Broken Hill 61s lOd. DUNEDIN, May 18. Sales: Otago Daily Times £2 6s 6d. Taranaki Oil 8s lOd, Ss 9d (5), Mount Lvell £1 5s 9d. CHRISTCHURCH, May 18. Sales: National Bank of N.Z. 52s 9d, Goldsbrough Mort. 30s lid, G. J. Coles 84s (3), Taranaki Oilfields 8s 6d, 8s 7d, 8s Bd, Ss lOd, 9s (2), 8s lOd, Woolworth’s Properties (rights) 3s 9d (3) Broken Hill South (cum. div) 30s 4d, Mount Lyel (cum. div.) 25s sd, Mont Morgan 8s sid (2), North Broken Hill 47s 3d. Reported: Wilcox Mofflin 7s sd, Standard Insurance AUCKLAND, May 18. Sales 10 a.m. call: Commercial Bank 16s 2d, Auckland Gas (2) 20s 4d, Northern Steam 4s Bd, Talisman 7s 6d, Stock, March 39-42, £lOO 5s Noon call: Commercial Bank pref. £9 7s 6d, Bank of New Zealand 44s 6d (2), United Buildings 20s, Auckland Gas 20s 4d, New Zealand Breweries 455, Australian Glass 93s 6d, British Tobacco 48s 6d, Colonial Sugar (odd lot) £4B 10s, Taranaki Oil Ss 9d (2), Woolworth’s (Sydney) 22s 2d, Rights 3s 9d, Wilson’s Cement 17s.

LONDON, May 17. Butter: Choicest salted New Zealand 1325, Australian 1295, 130 s. Unsalted, one shilling premium.

At the wool sales 8716 bales were offered, including 4812 Ned Zealand; 7840 were sold. The demand was well sustained for a good selection, which sold well at firm rates. There was a better demand for slipes. Gold 140 s lid, dollar 496 3-8, franc 177 5-8.

In the House of Commons, Mr Hore Belisha said that the.extra cost of providing the Army with homekilled meat, instead of meat from the Dominions, in the year 1937-8, would have been £439,000. A Labour member (Mr Day): Does the Minister agree that the health of the troops could be improved by eating British fresh meat instead of imported meat? Mr Hore Belisha: I don’t think that the health of the troops could be improved. FARMERS’ TRADING CO. AUCKLAND, May 18. The annual accounts of the Farmers’ Trading Company tor the year ended March 31, show record net profits of £115,319, compared with the previous best year of £104,236. The usual dividends of five and threefifth per cent, for preference and seven per cent, for ordinary shares are recommended. A new item in the balance-sheet is stocks reserve at £50,000. The reserve against sundry debtors Is £106,000. N.Z. OIL PROSPECTING. BIG COY.’S ARRANGEMENT. WELLINGTON, May 18. In an interview with a Wellington “Post" reporter, Mr Hugh Hamilton, Chairman of Directors of the Vacuum Oil Co., Proprietary, Ltd., explained that the nature and division of shares were such that the effect was that the Taranaki Company, outside of the taking up of 200 A shares, was not called upon to provide anj' capital until there had been an expenditure of £250,000, represented by B shares: The purpose of the Vacuum Company and the Californian Texas Investments Ltd., in putting up £250,000 between them, was to provide the capital necessary to test the position. The holders of B shares did not have the right to participate in the profits of the New Zealand Petroleum Company, Lted., or to take part in any general meeting.