YESTERDAY'S SALES.

New Zealand Herald, Volume LXVI, Issue 20332, 13 August 1929, Page 5

YESTERDAY'S SALES.

BUSINESS ON EXCHANGES.

RETURNS ON INVESTMENTS

Following is a list of yesterday's transactions on New Zealand Stock Exchanges. In the second column is given tho return, based on the last dividend, from investment at tho quoted price. In (ho caso of Government and other redeemable securities tho return includes redemption. Tho first column gives the figures at which the sales were made: —

AUCKLAND EXCHANGE. Return on Sale; price. Investment. £ b d £'s d Com. Blr. Australia. 1 9 0 6 1 8 Ditto' (pref.) . . 7 G 15 5 0 3 N.Z. Insurance . . 2 7 (i 317 2 N.Z. Guarantee .. 0 9 4J 7 2 3 Auckland Gas (2) . . 14 1 Cl2 10 Northern Steam . . 014 3 8 2 9 National Timber ..071) Farmers' Trading . 0 9 0 817 9 Taranaki Oil . . 0 311 Wilsons Cement . . 2 4 9 4 9 5 CHRISTCHURCH EXCHANGE. N.Z. Insurance . . 2 7 8 310 11 N.Z. Brewories . . 4 4 5 311 1 Ditto .. .. 4 4 15 311 0 •Ditto (deb.) . . 1 8 C. 7 0 >1 Ilolden's Motors . . 18 0 7 210 MINING SALES. Dunedin.—Ohinenniri, 10s 3d; Wnihi, 12s 2d (2). •Does not includo .redemption. Tho return on New Zealand Breweries shares does not includo bonus accrotiou.

NATIONAL BANK OF N.Z.

THE DIVIDEND RATE.

CHAIRMAN'S ASSURANCE

[from our own correspondent.] LONDON, July 12. In his reviow of tho past year's results of tho National Bank of New Zealand, tho chairman, tho Hon. VV. Peniber Reeves, said tho net profit, after paying 11 bonus to the staff of £II,BOO, was £290,600, which showed a small increase of some £BOO. Tho directors had again placed £IO,OOO to promises and had allocated £II,OOO to pension and gratuity funds.

"Wo proposo to pay you the Same dividend and bonus as last year," ho added. "Tho carry-forward shows _ a dccreaso of £II,OOO as compared with 1928, but, at £155,000, is considerably nioro than six months' dividend and bonus. I sco no reason to anticipate less favourable business conditions in the future, but I remember on one occasion an old shareholder stated that, in paying a bonus, he considered wo wero distributing too largo a proportion of our profits. However, I will only repeat what I have previously said—that this matter received our very careful attention, and you may bo sure that, if we thought it necessary, wo should not hesitato to withhold or reduco it."

HIGHER POTATO YIELD.

NEW ZEALAND FIGURES.

INCREASE OF 2205 TONS. [BT TELEGRAPH.—X'RESS ASSOCIATION.] WELLINGTON. Monday. An interesting return has been compiled by tho Government statistician, Mr. Malcolm Eraser, of tho potato yield of Now Zealand tor the season 1928-23. Tho figures arc based on reports of crops actually dug. Cards wero recently sent out from tho statistiaian's offico to all growers of two acres or over of potatoes, for the purpose of seeking verification of tho yields returned earlier in the year. That proceduro was found necessary, as the bulk of the potato crop was not dug at tho time of tho annual collection of agricultural and pastoral statistics, when estimated yields had perforce to bo accepted from tho growers' comparison with tho 1927-1928 season. Most of tho verification cards havo now been received, they aro sufficient to enable tho corrp'ct '-Xteld figures to bo given The V c ' c ' s ' or arcas on Clirt ' s n °t rc " l i ' i ""'owers and for areas of Jess turned by<* b cstimato(l in than two aires, { ic , ds , ho , vn proportion to the av. ' , tQ fho on tho cards actually\ . ljc]ow statistician, iho return a^ f Do . shows for each land distr <„ r nnd minion tho area and yield of other potatoes obtained at diggings, bo year's Dominion totals aro quoted fo\ purposo of comparison. "It will bo noted," states tho statist tician, "that notwithstanding a decrease of 389 acres in. tho total area planted, the quantity of table potatoes dug was 4912 tons greater than in 1927-28. Tho quantity of potatoes other than table quality declined bv 2707 tons, leaving a net increase of 2205 tons in total production. It should bo borne in mind that tho following figures are fo'- all holdings of one acre or over situated outside the city or borough boundaries.

Table Others Potatoes (seed) Total

, Acres. Tons. Tons. Tons. North A kid. . 1,599 (>,925 2,081 9,009 Auckland . . 781 2.804 1,450 4.251 Gisborno . . 204 654 236 £9O Hawke's Bay 532 2,433 739 3,172 Tarnnaki . . 211 014 300 !)'1 Wellington . . 1,504 5,943 3,083 9,020 Nelson . ; 428 J,IBO 535 1.715 Marlborough 235 023 291 ,1!4 Wcstland . 17 84 31 115 Canterbury 12.85S 48,982 23.801 72,783 Otai?o .. 1.089 8,074 3,085 12,359 Soutnland . 1,090 5,013 2,843 8,450

Grand totals—--1928-29 . . 21,304 81,529 09,078 123,007 1927-28 . . 21.093 79.017 41.785 121,102

GREY AND MENZIES, LTD

DIVIDEND OF 8 PER CENT. The. annual report of Grey and Menzios, Limited, for presentation at the annual meeting on August 21, states the directors again recommend a dividend of 8 per cent, on both preference and ordinary shares.

The company, which lias a capital of £27,000, including £SOOO in preference shares, increased its dividends to 8 per cent, last year. Previously it had paid 7£ per cent. The retiring directors, Messrs. Barstow and Ryan, offer themselves for roelection, and Iho auditors, Messrs. Wallace., Bruco and Duthio, seek ro-appoint-mont.

AMERICAN FRUIT FARMERS.

LARGE NEW COMBINATION.

Australian and N./.. Press Association. NEW YORK, Aug. 11.

Tho formation of a marketing association of fruit and vegotablo growers, to be known as tho United Growers of America, is announced. It lias a capital of £10,000,000. It obtained a charter in Delaware State yesterday. Tho new organisation will provido a naional and international sales servico for tho joint use of farm co-operative associations and growers throughout tho country. Mr. Arthur Rule, Iho chairman, announces that about 50 co-operative associations will bo included, and it oxpects to do a business of 50,000 freight cars in tho first year. According to Mr. Rulo, tho organisation is tho outcome of tho Federal farm Board's marketing programme, and its purposo is to strengthen and build up local organisations by offering them a moro comploto marketing servico, adoquato crodits and other advantages.