COMMERCIAL

Grey River Argus, 26 September 1941, Page 1

COMMERCIAL

N.Z. OIL BORING P.A GISBORNE, Sept. 26. New Zealand Petroleum reports that the Morere Well is 6155 ft down, and the Midhirst Well 8615 ft, Them is no change in the formation in either location. P.A. AUCKLAND, September 24. A final dividend of Is a share, plus a bonus of 6d a share, is to be recommended bv the directors of the South British Insurance Company. An interim dividend of 9d a share was paid in April, so the total distribution ioi the year ended August 31, including the bonus, is 2s 3d a share, against Is 8-d a share in the previous vear. CHRISTCHURCH, September 25. Sales: South British Insurance 55s 6d; New Zealand Farmers’ Co- ''■■■ per cent. 1950, £B5 15s. Reported: Government 31 per cent., 1957-60 Gate yesterday) £99 10s; Commercial Bank of Australia pref, (late yesterday), £9 15s: Bank of New Zealand (late yesterday) 29s lOd; Wright Stephenson 18s. WELLINGTON, September 25. Scie reported: Woolworth’s Ltd. 17s 6d. .... - Stock Exchange advises the sales late on September 23, and also on the morning of September 24, of four per cent. Stock. 1943-46. reported as £lOl 7s 6d, should be £lOl 12s 6d, in each case. The trade agreement between Canada and New Zealand, which is due to expire at the end of this month, will continue in force until the expiration of six months from the date on which either country shall have given to the other notice in writing of its intention to terminate it, Mr Nash announced to-day. The agreement was entered mlo in May, 1932, the original term being one year. It has since been modified and extended from time to time tor further yearly periods. In view of the fact that it is extremely improbable an opportunity will arise during the war period of undertaking a general revision of the agreement, the Governments of Canada and New Zealand consider it advantageous to both countries if the agreement continues in force for an indefinite period, subject to six months’ notice of termination. Mr Fraser stated to-day that one of the most important matters arising out of the economic stabilisation conference was the necessity for continuous investigation and study by competent persons, to advise the Government on matters concerning stabilisation of prices and incomes. The Government was pleased to announce that the following had accepted appointment as members of an economic stabilisation committee, which will I commence to function immediately: Messrs F. D. Cornwell, A. T. Donnelly, R. Eddy. A. McLagan, W. Marshall and C. V. Smith. In addition to the above, the Ministers of' Finance and Industries and Commerce will be the representatives of the Government on the committee.