YESTERDAY'S SALES.

New Zealand Herald, Volume LXVII, Issue 20601, 27 June 1930, Page 9

YESTERDAY'S SALES.

BUSINESS ON EXCHANGES. RETURN ON INVESTMENTS. Following is a list of yesterday's transactions on Now Zealand Stock Exchanges. In tho second column is given the return, based on tho last dividend, from investment at tho quoted price. In tho case of Government and other redcemablo securities tho return includes redemption. Tho first column gives tho figures at which tho sales wero made:—

GOLDSBROUGII-MORT.

PAST YEAR'S WORKING. ADVANCES MUCH HIGHER. The report of tho directors of Goldsbrough, Mort and Company, Limited, for the year ended March 31, 1930, states that tho period covered by the report was probably one of the most disastrous to woolgrowers and those associated with tho industry throughout Australia. Not only were losses of stock serious, but there was very restricted lambing, and drought expenses, such as feeding, wero enormous. To that had to bo added tho reduced prico of wool. Those conditions rellected on the company's profits. Tho wool season opened in September with values 20 per cent, to 25 per cent, below those ruling at tho close of tho previous season and market values wero now 7£ per cent, to 10 per cent, below those of the opening of tho season. Tho total carry-over in all the Australian selling centres at March 31 was 703,493 bales, against 293,626 bales' at the corresponding date of last year. The balance-sheet shows that' shareholders' funds increased during tho year from £5,517,124 to £5,783,127. Current liabilities amount to £1,350,653, against £1,198,755 at tho end of the 1929 financial year. Liquid assets amount to £440,729, including shares in other companies at valuation, £42,214, which item last year, when tho liquid assets totalled £778,810, was taken in at £56,463. Bills receivable, which are also in tho total of tho liquid assets, show a marked decrease from £54,133 to £.19,212. Tho excess of tho current liabilities over the liquid assets this year simounts to £909,924, compared with £419,945 last year. Advances have increased by £854,830 to £5,886,051. In tho 1929 year tho increase in advances was £586,000, compared with only £48,000 in 1928. The premium received on the recent issue of £400,000 additional capital has been added to the reserve funds, making a total of £1,719,543, and increasing tho total resorvo funds from £1,745,000 to £1,964,543. Of tho amount available for distribution this year £200,000 will be absorbed in tho payment of a dividend of 10 per cents, £2500 transferred to proevident fund, and a balanco of £llO,lOl carried forward.

FINANCE CORPORATION. MEETING OP SHAREHOLDERS. [BY TELEGRAPH. —OWN CORRESPONDENT.3 HAMILTON, Thursday. Tho third annual general meeting of share,holders of the Finance Corporation of New Zealand, Limited, was held in Hamilton last evening, tho chairman, Mr. C. L. MacDiarniid, presiding. In moving the adoption of tho directors' report, tho balance-sheet and annual accounts, tho chairman said the company was maintaining throughout its operations tho policy of making assistance to tho farmer its first consideration. Tho com/ pany was in a very satisfactory position, having £25,000 paid up on shares, and reserves totalling £2OOO. The company t was issuing 50,000 preference shares on tho open market, as it wished to stand behind tho farmer with every pound of available capital dtiring tho presont financial stringency. It was decided to declare a dividend of 8 por cont., tho balance, alter payment of directors' fees, being carried forward. Mr. C. L. MacDiarniid was re-elected chairman for tho ensuing year. Messrs. P. H. Saxlon and W. M. Cann, who retired from tho board of managers by rotation, wero unanimously re-elected. Mr. C. ,W. Armstrong was re-appointed auditor. CANADIAN BUTTER.

PRODUCTION TN MANITOBA. WINNIPEG. Juno 25. The manufacture of creamery butter in Manitoba continues to increase. The output in May was 20 por cent, higher than that of May last year. CHICAGO WHEAT MARKET. CHICAGO. Juno 25. Wheat.—July delivery, 883 cents a bushel; September, 92 3-8 ceuta; December, 97% cents. KANSAS FACING CRISIS. (Received Juno 20, 5.5 p.m.) NEW YORK, Juno 25. Tho Governor of Kansas, Mr. Roed, says that State is facing catastrophe owing to tho unduly depressed price of wheat. Ho has asked the Statos Farm Board to purchase an additional 25,000,000 or more bushels. MELBOURNE HIDES MARKET. (Received Juno 26, 11.5 p.m.) MELBOURNE. Juno 26. On the Melbourne hidos market to-day prices wore mostly 1?. 8d to Is 4d lower. TALLOW MARKET. Dalgety and Company, Limited, has received the following cablegram from its London house, dated June 25j— Tallow: Ixj general prices aro Is lowor. Tho next sale will be held ou July 2.

AUCKLAND EXCHANGE. Return on Sale Price. Investment. £ s d £ 8 d Com. Bank Aus. . . 113 7 12 Bank o£ N.Z. (lato sale Wed.) ... . . 2 18 0 4 18 10 South British InB. 2 19 (1 4 6 10 Dom. Invest. Banking 10 0 7 0 0 British Tobacco .. 1 39 0 6.1 6 CHRISTCHURCH EXCHANGE. War Bonds, 1033, 51 . 99 10 0 5 13 9 Com. Bank Aua. (3) . 10 11 7 3 5 Ditto . . ..113 7 12 E.S. and A. Bank .. 6 10 6 3 11 Ditto . . . . 0 2 0 6 2 11 Nat. Bk. A'a8ia, £5 pd. 7 5 0 6 17 10 Ditto (2) .. 7 5 0 6 17 5 Bank of N.S.W. . . 38 10 0 5 3 10 Bank of N.Z. .. 2 17 101 4 18 11 Kaiapoi Wool. (17a pd.) 0 13 0 5 4 7 Amal. Wireless, con. 10 6 5 9 3 British Tobacco (7) . . 1 ID 1 6 2 10 Colonial Sugar (2) .. 42 10 0 5 17 8 Electro. Zinc, ord. . . 13 6 10 4 3 Ditto (pref.) .. 15 9 9 6 5 Ditto (2) . . . . 1 5 11 9 5 2 Nth. Can. Co-op. Flonr 0 15 0 3 6 8 Tho following saloa also took place:—Commercial Bank of Australia, 21s Id; Mahukipawa, Id. WELLINGTON EXCHANGE. Ins. Stk., 1938, 4i . 99 2 6 4 12 7 Com. Bank Aus. .» 112 7 19 Nat. Bank N.Z. .. 6 8 0 4 13 9 Bank N.Z 2 18 0 4 18 10 N.Z. Insurance ., 2 7 li 3 17 10 Wilsons Cement . . 2 5 0 5 11 1 DUNEDIN EXCHANGE, The following sales took place -Okarito, paid, 9s (4); 8a lid (3)