NORTH GERMAN LLOYD.

New Zealand Herald, Volume LXV, Issue 20105, 16 November 1928, Page 11

NORTH GERMAN LLOYD.

INCREASE IN THE CAPITAL.

SHARE ISSUE IN NEW YORK. Australian and N.Z. Press Association. (Received November 15, 7.15 p.m.) BERLIN. Nov 14. Shareholders in the North Gorman Lloyd Co. have approved an increase in tho capital by the issue of £1,750,000 worth of ordinary shares and £50.000 worth of preference shares. The former will bo issued in Now York. LONDON DAIRY VALUES. MARKET STILL STEADY. Tho New Zealand Loan and Morcan tilo Agency Company, Limited, yesterday received the following cablegram from its London house:—Butter: Choicest salted, new season's, 178s; stored, 174s to 1765. Cheese: 104s to 107s; the market is steady.

WALL STREET BOOM. GREAT TRADING DAYS. , Australian and N.Z. Press Association NEW YORK, Nov 14 Sales on the New York Stock. Ex change to-day totalled 5,413,600 shares. This was the third day in succession that the 5,000,000 mark was passed, and the fourth time id tho history of the exchange. The tickers wero hopelessly behind tho market.

, Many issues were pushed to new high levels, but the market generally was irregular.. United States Steel moved again to a now high level. E. S. AND A. BANK. DIVIDEND OF 12i PER CENT. The annual report of the English, Scottish and Australian Bank for the year ended June 30 shows a gross profit of £1,627,t)95, compared with £1,425,836 for the previous term and £1,365,860 for 1925 26. Deducting expenses of management and taxes, £1,029,226, against £874.848 in the provious year the net profit was £598.769. compared with £550,988 for 1926-27. The dividend is again at the rate of 12£ per cent, per annum, including interim dividend paid in May, and absorbs £375,000 A sum of £15.000 (preliminary allot ment) was transferred to the reserve fund, ind an additional amount of £55,75] is now allocated to that fund, which stands at £3,000,000 The sum of £IO.OOO is allotted to the officers' guarantee and provident funds, and £59,500 is set ipar* for tho purchase and cancel lation of deferred inscribed deposit stock. Tn addition £50.000 is voted from the profits to contingency account. Tho unappropriated balance of £33.518 is added to tho undivided profits of £277,960, making a total of £311,478 to be carried for ward.

Following is a comparison of the bank's results and appropriations for tho last three years:—

, . . , 10'27_ 1028. Mroucht forward £15:t,414 f230.72"> P277 9Rn Net profit . . 542,308 550.9*8 598.7(19

_ , X' 725.722 £781,710 f 870,7^0 To Reserve . . 100,000 100.000 70 751 Contingency Ac.. - „ s n ; noo Provident fund . 20,000 10,000 10 0"o T " re' - aso Of stock 03.750 98.437 59,500 Dividend, lit p.c. 281,250 295.312 375 000

Carried folward £'230,722 £277.900 £311,478

I his is the sixth \ ear ui succession in which tho dividend has been at the rate of 12), per cent., free of tax, although the capital has been increased in the meantime and is now £3,000.000 Ah the reservo fund nt Juno 30, 1027, stood at £2,910,000, the increase in tho fund this year has been £90.000, made up of £70.751 from profits foi tho year and £19.249 in premiums received on the last issue of shares CHICAGO WHEAT MARKET. Australian and N.Z. Press Association. CHICAGO, Nov. 14. Wheat.—December. 1 dollar cents per bushel; March, 1 dollar 20 5 8 cents; May, 1 dollar 234 fonts. • NO LONDON TALLOW SALES. Australian Press Associntion—United Service LONDON, Nov. 14. No tallow sales were hold in London 10-dny. Dalgety and Company, Ltd., have received the following cablegram from their London house, dated November 14:— Tallow prices are nominally unchanged, but- the tendency is downward. LONDON WHEAT MARKET. Australian Press Association United Service LONDON. Nov. 14. Wheat cargoes, following upon a bullish Canadian report, made a firm advarice of 6d, checking business. By an unnamed vessel in March, for Calcutta, 43s 9d. Parcels were held for an advance of 6d. By tho Ascanius (baps), 47s 9d. Liverpool futures: December, 9s 3 7-0 d per cental; March. 9s 4 5-8 d: May, 9s 4 7-Bd. PRODUCE IN AUSTRALIA. (Received November 15, 0.35 p.m.) SYDNEY. Nov 15. Iho following arc today's quotations on tho Sydney produce markets:— Wheat.—At country stations, 4s, ox trucks; Sydney. 4s 7/, d. Flour.— £lO. Bran and Pollard.—£6 ss. Potatoes.—Clarence River, now, £10; Tasmnnian £7 to £10; Western Australian, £l6. Oats.—White and Algerian, to 4s 6d. Onions.—Victorian brown, £l4; Silverskins, £l2. 1 Prices at Adelaide are as follows: VVheat —Growers' lots, 4s 3d to 4s B.)d. Flour.—.Rakers' lots, £ll 15s. Bran.—£6 ss. Pollard.—£6 12s fid. Oats.—2s 9d to 3s. SOUTHERN EXCHANGES. IBY TELEGRAPH. —I>nESS ASSOCIATION. 1 WELLINGTON. Thursday Tho following sales wore made on the Stock Exchange to-day:—New Zealand Breweries. 58s 6rt and 58s; Now Zealand Breweries (bonds), 24s 6d: Gear Moat, 43s 6d (two parcels). , OHRISTCIIUHCH. Thursday I'he following sales were mado on the Stock Exchange to-day:—Australian Bank of Commerce, 33s 5d (two parcels); Com mercial Rank of Australia, 30s 3d; E. S and A. Bank (cum div.), £8 15s 9d. National Bank of Australasia (£lO paid, cum div.) £l9 ss; Union Bank of Aus tralia, £ls 7s 6dOoldsbrough. Mort 52s 2d; Now Zealand Rofrigcrnting (10s paid), On 6d: Mahakipawa, lid (three parcels). Is (three parcels). Is Id (six parcels), Is 2d (nine parcels); New Zealand Breweries, bOs. 58s 6d; Okarito Mining, 2s 3d (two parcels). DUN'EDIN, Thursday Tho following sales wore mado on the Stock Exchange to-day:—New Zealand Breweries, 25,s (two parcels); Kildare, 2s 3d, 2s 2d; Bank of New Zealand, 61s 6d; National Electric, lis 6d