WELLINGTON STOCK EXCHANGE.

Manawatu Standard, Volume LIV, Issue 289, 3 November 1934, Page 5

WELLINGTON STOCK EXCHANGE.

YESTERDAY’S BUSINESS AND PRICES. A very substantial turnover was recorded on the Wellington Stock Exchange yesterday at prices indicating great firmness in the market. Eight parcels of Government 4 per cent, stocks and bonds covering all maturities were reported sold at full rates. Good business was also done in bank shares and in industrial and trading issues. There was a strong demand in most sections yesterday, the market showing considerable buoyancy. Wellington Gas ordinaries advanced to 41s 6d and the preference to 25s 6d, but sellers stayed out. Shipping shares showed some improvement, and woollen companies were very firm. Industrial and trading shares were a very live market, and prices showed a firming tendency. Woohvorths (N.Z.) ordinaries were reported done at £8 10s. There was a slightly better demand for mining issues.

YESTERDAY’S QUOTATIONS. The latest buying and selling quotations recorded yesterday on the Wellington Stock Exchange were as follow: —•

ABRAHAM AND WILLIAMS. PREFERENCE DIVIDENDS TO DATE. The payment of preference dividends up to date is recommended by the directors of Abraham and Williams, Ltd., in their report to be presented at the annual meeting of shareholders at Wellington on November 14. The profit and loss account for the year ended September 30, 1934, shows a credit balance of £16,476 11s 9d. The last payment of a dividend on preference shares was made on April 1, 1932, covering the six months ended March 31, 1932. The directors now recommend that a dividend (5 per cent.) for the twelve months ended September 30, 1934, together with arrears for 1932 (3 per cent.) and 1933 (5 per cent.), be paid on the preference shares. These dividends will absorb £10,662 12s, leaving £5813 19s 9d to be carried forward to next year’s accounts. Tli6 preference dividends will then ho paid up to date. Under the National Expenditure Adjustment Act the rate of dividend payable on all preference shares was reduced by 20 per cent, with a minimum of 5 per cent, for a period of three years, and this

period has been extended for a further two years.

The retiring directors, Messrs R. S, Abraham and J. T. Martin, offer them selves for re-election.

The statement of accounts for the year ended September 30, 1933, showed a lie*, trading profit of £16,379, which wi.'li £4126 brought in made a total of £20,505. Those figures made no provision foi bad and doubtful dobts, or for unpaid interest on fanners’ advance accounts, and the directors deemed it advisable to prov.de for these items an amount of £32,680, leaving a debit balance of £12,174 15s Id, which was transferred to reserve account. In previous years the company’s net. profits were as f0110w:—1927 £15,506: 1928, £16,775; 1929, £18,355; 1930, £15,686; 1931, £3321. For the year ended September 30, 1932, the company made a loss of £4786. the first half-year’s preference dividend only being paid. Preference dividends at the rate of 6 per cent, per annum were previously paid. Tho dividend on ordinary shares was 5 per cent, up to 1930 and 21 per cent, for 1931. The balance-sheets compare as follow: Year ended Sept. 30. 1932. 1933. 1934. Liabilities — £ £ £

Buyers Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4 p.e. Bonds, 1940 ...105 0 0 105 10 0 4 p.c. ditto, 1946 109 0 0 — 4 p.c. ditto, 1949 109 2 6 109 15 0 4 p.c. ditto, 1955 113 10 0 5 p.c. Kural Bonds, 1947 103 5 0 — 3j p.c. Ins. Stock, 1939-52 — Ill 0 0 34 p.c. ditto, 1938-43 ...100 15 0 110 10 0 3j p.c. ditto, 1938-52 ... — 110 12 6 4 p.c. ditto, 1940 105 0 0 — 4 p.c. ditto, 1946 108 10 0 — 4 p.c. ditto, 1949 108 17 6 109 10 0 4 p.c. ditto, 1955 113 5 0 114 0 0 DEBENTURES — Well. City, 4i p.c. 1944 106 5 0 — Wellington Gan Oo. ...103 10 0 — Amid. Brick (Wellington) — 104 15 0 Ditto, Auckland — 105 10 0 Wright. Stephenson, 5 P-c 98 10 0 — BANKS--Australasia 11 11 0 11 14 9 Comrcl. of Aust., 0 16 0 0 16 3 Comrcl. Banking Co., Sydney 17 0 0 17 10 0 National of Australasia, £10 paid *12 9 0 — New South Wales ... 31 15 0 Now Zealand 2 8 9 2 9 3 Ditto, D long torni ... 1 14 0 1 14 5 Reserve Bank of N.Z. 6 11 9 6 12 3 Union of Aust 9 5 0 9 7 0 FINANCIAL— Abraham and Williams, prof 4 15 0 — Dalgefcy and Co — *9 7 0 Goldsbrough, Mort. and Co 1 11 4 1 11 6 National Mtge., “A” — 3 1 0 N.Z. Guarantee Corp. 0 5 4 0 5 6 Wfell. invest., T. & A. U H 9 — Well. Trust, Loan ... 5 11 0 — Well. Dep. and Mtge. 0 4 0 0 6 0 General Finance — 1 0 0 GAS— Christchurch 1 14 0 — Christchurch 1 14 0 . Ditto, contrib 0 16 0 0 16 9 Gisborne — 0 12 3 Wellington, ord 2 1 6 • Ditto, pref 1 5 6 — INSURANCE— Aust. Prov. Asece. . . — 0 10 6 National of N.Z *1 1 6 New Zealand 3 9 0 3 9 9 South British 4 8 94 9 0 HEAT PRESERVING— Gear JVJeat — 1 7 3 N.Z. Refrig., £1 paid — 1 1 0 Ditto, 10s paid — 0 10 0 Southland 3 12 0 — TRANSPORT— Huddart, Parker, ord. 1 16 0 1 17 6 Ditto, pref — 1 10 0 Union Steam, pref. ... 1 7 9 1 8 b P. and O. del', stock 1 2 0 — WOOLLEN— Kaiapoi, prof — 1 1 3 Ditto, paid 0 14 10 0 15 6 Ditto, contrib 0 4 3 —

Wellington, ord 5 11 6 — Ditto, pref 5 12 0 — COAL—Kaitangata 1 1 4 1 2 0 Westpori — 0 19 2 Westport-Stockton, pref 0 4 6 — TIMBER — Kauri — 0 19 6 Ley land-O’Brien 1 2 3 1 3 0 National 0 14 0 0 15 0 Taupo Totara — 0 6 2 BREWERIES— N.Z. Breweries 2 9 9 2 10 6 Staples and Co 1 10 6 — Tooth and Co — 2 12 0 Monteiths — 0 14 0 Tui 3 0 0 — M1SCELLANEOUS — British Tobacco 2 1 6 — Colonial Sugar *76 10 0 77 5 0 Con. Brick and Pipe 0 10 11 0 11 3 Den. and Med. Sup. 0 8 0 — Dominion Fertiliser ... 1 0 6 — Dunlop Pcrdriau 0 19 9 1 0 2 Electrolytic Zinc, ord. — 1 7 9 Ditto, 8 p.c. pt. pref. 1 16 0 1 16 5 Farmers’ Co-op. Auct. — 3 19 0 Henry Jones Co-op. ... — *1 17 0 Howard Smith, ord. ... — 0 16 3 N.Z. Drug 4 0 0 4 0 6 N.Z. Farm. Fertiliser 0 18 6 0 19 6 N.Z. Paper Mills 1 15 0 — Prestige N.Z., pref. ... 19 6 — Sharland and Co., ord. *1 6 0 — Ditto, pref *1 6 0 — Well. Queen’s Theatre — 1 0 0 Woolworths N.Z., ord. 8 7 6 9 0 0 Ditto, pref — 2 0 9 Ditto, Ltd., 1st prof. 1 19 0 — United Provisions — 0 9 6 Australian Glass *2 16 0 2 17 6 Broken Hill Pty — *2 12 0 Nth. Roller Mills 1 12 3 1 15 0 01L— Taranaki 0 0 7 0 1 0 MINING— Alexander, contrib. ... — 0 16 4 Bell Hooper .: — 0 0 5 Bell Kilgour 0 0 0 0 4 Big River, cx rights 0 1 8 0 1 94 Black water 1 13 6 — Brian Born 0 1 0 0 1 3 Central Shotovcr 0 0 5 — Consol. Goldfields — 0 17 0 Gillespie’s Beach 0 1 8 — King Solomon 0 3 8 0 3 10 Mount Lyell 0 19 6 0 19 9 Nokomai 0 3 6 0 4 0 Okarito 0 8 6 0 8 9 Skippers 0 0 Si 0 0 64 Waihi +1 16 y T~ Waibi Grand Junction — 0 4 6 Waitahu — 0 4 i Nevis Diesel 0 0 4 — Lawson Flat 0 0 2 — Mossy Creek 0 1 10 0 2 i *Cum. dividend. +Ex dividend.

Capital paid 294,240 294,240 294.240 Reserve 20,500 3,325 8.325 Due to bank 53,424 48,911 30,796 Creditors 57,421 44,948 49,218 Assets — Property a/c 61,530 61,972 59,277 Debtors 350.382 319,559 342,820 Bills receivable ... 561 — — Goods and merchandise 9,852 11,999 14.749 Plant account 2,129 2,153 2,376 Shares 5,256 740 785