STOCKS AND SHARES.

New Zealand Herald, Volume LXVII, Issue 20690, 9 October 1930, Page 9

STOCKS AND SHARES.

YESTERDAY'S SALES.

THE AUCKLAND EXCHANGE. PRICE LEVELS FLUCTUATE. Values wero rather unsteady on (he Auckland Slock Exchange yesterday, gains by some stocks being offset by falls in others. Generally speaking, the market was weaker at the final call, mid-day levels in most cases not being maintained Government securities wero steady. Inscribed Stock, 1933, 5$ per cent,., changed hands lato on Tuesday at £99 7s 6d. A parcel of Papatocton Town Board, 1965, per cent, debentures was available at £92. Prico levels wore erratic in tho banking section. Commercials of Australia were released twice at 18s 6d and once at 18s 5d and 18s 3<f. Further supplies were available at 17s 10(1 at the final call, buyers' offers declining to 17s 6d. English, Scottish and Australians made two currcnt-prico sales at £5 7s 6d. New South Wale? were steady with buyers at £32 and sellers at £33. New Zealands were taken twico at 535, but wero not wanted at that price at the last call. Unions wero availablo Is 6d lower at £9 16s. The feature of the insurance section was tho strength of South British, offers for which improved Is 3d to 56s 3d at tho final call. Tho loan and agency section was steady. Goldsbrongh-Morts had sale at 20s 6d and New Zealand and River Plates changed hands at 28s. In coals sellers quotations for Renowns gained Is. Auck land Gas made a current-price sale at, 23s 4d. Timber and shipping issues wero quiet. Offers for New Zealand Breweries fell back Is 3d to 43s 9d. Buyers showed more interest in the general investment section. Offers for Auckland Amusement Parks moved up 6d to Is 9d, holders quoting 3s higher at ss. Australian Glass were released at 25s 6d and 25s 3d, the previous sale being on Tuesday of last wtvek at 22s 9(1. British Tobaccos shaded 6d with a sale at 325. Colonial Sugars had salo three times at £3l, with more availablo at. the same prico. Electrolytic Zincs were wanted at 12s and the preference issue at 17s 3d. Milne and Choyco were taken at 245. Moturoa Oils had buyers at 3s. Wilsons Cement changed hands at 395. In mining Moanalaiaris were unchanged. Waihis wore firm wi tli a sale at 15s 4d, 5d more than tho last,sale a week ago. Waihi Grand .Junctions wejje wanted at 2s Id and Blount Lyells at 17s 6d. CLOSING QUOTATIONS.

CALL AND DIVIDEND LIST. Dividends- Duo - Milne and Cliqycc—shnrrs and del). Htock. 8 p.c. p.a. .. I o-inorrow Dim lop Perdriiui Kubbcr—final, 3 p.c. ord.: 5 p.f. pvcf. .. Jo-morrow N.Z. Guarantee Corporation—final, prof., 7 i>.c. p.a.; ord., -Id a alia 1-0 . . • ■ Saturday. Wnilii fi-.M.--interim. Is a fiharo Nov. 1, Hunk of Now Zealand, interim. Is <Jd a sharo . . . . Dec.

CANADIAN LOAN IN NEW YORK. 11E AV V OVEK-SU BSC 111L V J ' I ON. (Keccived October 8, 5.5 p.m.) NEW YORK. Oct. 7. The Canadian Government loan of 100,000.000 dollars (about £20,000,000) in bonds bearing interest at 4 per cent., with a term of 30 years, was issued in New York to-day. The banking group, by which the loan was underwritten, announced that tho amount had been heavily over-subscribed by noon. The proceeds of (he loan will be devoted to the refunding of maturing debt and to tho general purposes of the Dominion.

BUSINESS ON EXCHANGES. RETURN ON INVESTMENTS. Following is a list of yesterday's transactions on New Zealand Stock Exchanges. In the second column is given the return, based on the last dividend, from investment at the quoted price. Iri the case of Government and other redeemable securi ties-the return includes redemption. The first column gives the figures at which the sales were made:— AUCKLAND EXCHANGE. Return on Sale Prieo. Investment. X a. d. £ s. d. Ins. St!;., 1933, 51 (late sale Tues.l . . ',)!) 7 G 5 '34 9 Curti. Bk. Ana. (2) . OIK (i 8 22 JJit to . . II |rj :s 8 4 4 K.S. and A. C2) . . r» 7 (i C, 19 G Bank of N.Z. (2) . . 'J ];( o 5 8 2 N.Z. iiiid River Pluto 18 0 G 8 7 CioldHbmugh-Moit . 1 () G <) ]g l Auckland (las . , 1 ;{ -t (i 17 1 Australian Glass . . 1 5 !l 10 I Ditto . . . . in I! <1 18 0 British Tobacco .. I l'J o 7 10 0 Colonial Sugar C!) . . ;i| 0 0 8 13 Milne anil Choyco . 1 -1 0 Gl3 .4 Wilsons Cement .. MO 0 G 8 2 Waihi CI.M. . 0 15 4 13 0 10 The following sale also (00k place:—Commercial Bank of Australia. 18s sd. WELLINGTON EXCHANGE., Com. Bank Ana. .. OIS .1 8 4 4. Biinlc of N.S.W. .. y:i 5 0 G 0 :i Bank of N.Z. . . 213 3 5 7 0 Ditto . . . . 212 0 5 8 8 Union Bank .. .. 10 5 0 G 1 11 Ditto .. . . II) 0 0 G 5 0 N.Z. Guar. Co inn. . 0 7 ;i 812 1 Sliples' Brewery . II!) :i r, 7 5 British Tobacco . . 112 0 710 0 TClcc. Zinc (prof.) . . 017 G 118 7 Colonial Sugar . . ISO 15 0 8 2 7 Wilsons Cement . . 118 0 G 'J 0 Ch'cii. Trams, '3l, 0; 101 Ir> () 519 11 CHRISTCHURCH EXCHANGE. Ins. Stk., 1938, 1} . . 99 15 0 -1 10 0 Com. Bank Aus. . . ois G 8 22 Difto . . . . 017 0 8 0 0 Nat. Bank A'asia .. II 111 0 S 13 11 Ditto . . . . 11 7 1; 815 10 E.S. and A. (2) . . 5 7 G 1; 19 (; Bunk of N.Z. .. 212 0 5 8 8 Union Bunk . 917 0 G Gll Ditto . . . . 015 0 G 8 2 Goklsbrough-Morl . . 10 0 10 0 0 Ditto . . . . 010 0 10 2 G N.Z. Breweries (2) . . ;; t r, r, ].( ]o British Tobacco (2) . . 112 0 710 0 Colonial Sugar . . 30 15 0 8 2 7 Tho following sales also took place:—Commercial Bank of Australia, 18s 1 rj. 18s 3d, 18s 2d (2), 18s: Mount, Lvell, 17s Id, 17s 3d (2), 17s Gd (4). 17s 7d (2); Mahakipawa, 8d Ml); N.Z. Farmers' f'o-on.. 1939. 11l stock. £77. No return is given 011 Mount Lyell shares owing to tho reduction in tin.rate of interim dividend and the uncertainty of the final distribution. DUNEDIN EXCHANGE. Nat. Bank A'asia 11 7 G 8 15 10 Union Bank . . , . 915 0 0 8 2 The following sales also look place:— Okanto, 7s (3). CHECKER TAXTCAB CO. IMPROVEMENT IN POSITION. SMALL LOSS FOR PAST YEAR. An improvement in the working k Milts of the Checker Taxicab Company, Ltd., was reported at the fourth annual meeting, held yesterday, a loss of £23 being shown for tho year ended June 30, compared with a loss of £3287 in the previous year. .Mr. T. A. Low, chairman of directors, presided While it, did not reflect a profitable year, tho balance-sheet revealed a much strengthened position, which should give cause for some satisfaction to shareholders, the chairman said. The item sundry creditors had been reduced by nearly £IOOO, and the depreciation reserve had been built tip to £9429. An increase of more than £3OOO in tho amount owing by sundry debtors was due to the disposal of some of the company's cabs to drivers on deferred terms. Cash in hand had risen by more than £4OO, and a substantial reduction had been made in tho book value of certain other assets of the past. In face of the experience of other taxicab companies, a loss of only £23 was, lie thought, very gratifying. An extension has been made of the scheme whereby the use of the company's well-known trade mark and its system of operation had been leased at a weekly rental to owner-drivers, continued the chairman. This method of operation was now very general, but, whereas in the caso of some competitors the subscriptions of owner-drivers represented prac ticallv the entire income of the • concern. Checker still earned tho major part of its income, and tl'io owner-drivers provided only sufficient. t<> rover the services rendered to them. The rental received from owner-drivers was 2b per cent, of tho total revenue, so that Checker earned 74 per cent, of its own living. This was worthy of note because it was a common idea in the public mind that all cab companies depended on the owner-driver system for their existence. In connection with the owner-driver system, consideration was being given to a scheme of mutual insurance, which it was hoped would provide benefits at least equivalent to. and possibly greater than, those of the Workers' Compensation Act. "We have made such progress during the year and have so consolidated our position, that I think you may look forward to an increasingly improved report each year from now on," the chairman concluded. Tho balance-sheet showed tho following items:—Paid-up capital, £23,670; sundry creditors, £1706; depreciation (four years), £9429; total, £34.806. Assets: Vehicles, plant and stock, £22,767; sundry debtors, £3769; cash in hand and at bank, C 608; prepaid expenses, £585; goodwill, £2500; preliminary expenses, £1000; profit, and loss appropriation (brought, forward, £3553: loss, 1930, £23), £3576; total. £34,806. A. Anstiss asked whether it was the policy of tho directors to write off within any given time the item "goodwill." which year by year remained the same. It might be a question whether tho goodwill was tho same now as when tho company was first incorporated. The chairman said it might be taken that the directors would write it off at the first, convenient opportunity. Mr. C. Rhodes pointed out that on tho other side of the balance-sheet was depreciation amounting to £9400. The adjustment. proposed would be no more than a book entry, and he suggested that in the present form tho accounts gave more informal ion. The report and balance-shoot were adopted. The retiring directors, Messrs. T. A. Low and 11. I'. Richmond, wore re-elected. SOUTH OTAGO FREEZING CO. DIVIDEND OF 5 PLII CENT. The. annual report of tho. directors of the South Oiago Freezing Company, Limited, states that tho profit for the year was £1064 13s, against £2165 last year. Including the amount brought into tbo accounts, £2515 10s lOd, there is £3580 available for appropriation. The directors recommend the payment of a dividend at tho rate of 5 per cent, per annum, which will absorb £3315, and tii.it the balance of £265 should bo carried forward.

Tho report stales lliat tlio stork dealt with for liio past three seasons is as follows:

liv.'S. 1029. Shoen and lambs .. 91,010 157,'.!% 278,;50U Cuttlo . . . . 202 152 7<J9

Tho paid-up capita] of tlio company is £66,305. Tho whole of llio profit of £2165 for tho 1928-29 year was passed to reserve, which now stands at £15,053, and the dividend now declared is the. first for ;i number of years. Last year the directors mado a special appeal to fanners for greater patronago.

B uyers. Sellers X' s. d. £ n. d. BANKS. Ana. of Commerce .. 0 IS 0 1 0 0 Australasia m 17 i; Commercial of Ana. 0 17 r; n 17 10 Km,'.. Scot, and A lis. 5 3 c> 5 12 6 National of N.Z. r> t n New South Wales .. 32 0 0 33 0 0 New Zealand .. 2 12 ii '2 13 0 D pref., 20s pel. .. ! 5 r> 1 7 3 Union of Australia . 9 12 (J 9 115 0 INSURANCE. New Zealand .. 1 19 o o 1 n South British 2 If, 3 '2 17 <; Standard 2 IS 0 LOAN AND AGENCY. Dominion Investment 1 0 0 Farmers' Co-op. Auc. — 3 15 (i Ditto (A pref.) .. n ir. n — Ditto (B pref.) .. (1 15 fi 0 10 G Goldsbrouch-Mort 0 19 3 1 1 0 Newton Kind (pref.) — o 13 0 N.Z. River Pluto .. 1 7 0 l 10 0 N.A. Farmers' (ord.) — 0 3 0 COAL. Grey Valley .... i 3 0 Pukemiro — 2 r, (1 Renown (ord.) — n 12 0 Ditto (pref.) — 0 2 1! Taupiri u. 1 3 0 l H 0 Ditto (pref.) v. 1 1 o _ "West,port .. -,-.i — l 10 r, V.'est port-Stockton — ti 1 9 GAS. Auckland 1 3 3 i 3 r, Ditto (con.) 0 10 9 n 17 r, Thames — 0 S 0 SHIPPING. Devonport Steam i 3 :i Howard Smith v.: — n 13 0 Iliulclart-I'n rker 1 8 n l 10 0 Ditto (pref.) 0 19 (i — Northern Steamship 0 M 0 0 11 8 P. and 0. (dcf. stlc.) 2 2 ti — TIMBER. Kauri (i in 0 n 13 0 Leylnnd O'Brien 1 2 0 i i; 0 National — 0 9 3 BREWERIES. C. Ti. limes and Co. 1 1 0 __ Ditto (pref.) 1 1 0 -- N.Z. Breweries 2 3 9 2 •l 9 MISCELLANEOUS. A in k. Amuse. Park . a l 9 n n Australian Glass — 1 0 Booth-Mac. (pref.) r.-. — ti s 0 British Tobacco 1 n 9 1 13 0 Bycroft, Ltd. — 1 11 0 Colonial Sugar 30 12 6 31 0 n Consolidated Brick .. n It r, Electro. Zinc (ord.) n 12 n n 15 0 Ditto (pref.) 0 17 3 0 IS 3 Farmers' Tradins Co. — 0 8 0 Ditto (B pref.) .. — 0 11 0 Fuller's Pictures — n 11 n (tear Meat — l 17 0 Hayward's Pictures — 0 11 0 "Henry Jones 1 1 f, — Hi!! and Plummer .. 1 0 () .... 0 IT.M. Theatre l r. 0 1 15 Ditto (ptef.) —- 1 2 0 TToklcn's Motors (A pf.) 0 12 r. — fi Milne and Choyee .. 1 3 3 1 ■i Ditto (deb. stk.) .. ! 3 9 1 ■t 3 Moturoa Oil .. 0 3 0 n --- 0 National Pictures .. — 13 N.Z. Farmers' Fert. — 0 n 18 0 "Robinson Ice Cream 1 1 n 12 Sail ford .. •• - - r, Ditto (pref.) — 0 19 0 Sha rland (pref.) 0 IS <; — Thames Theatre (.) 11) 0 — Union Oil v. - — i 13 r. Wilsons Cement, 1 19 n *2 0 0 MINING. Moanataiari 0 0 7 n 2 0 Waihi (i ir. 3 0 15 5 Waihi Grand June. Mount Lyell .. 0 2 0 17 1 c> n 0 17 ■1 9 N.Z. GOVT . BONDS. War Loan, 1038. •!} .. 99 10 0 100 5 0 Ditto. 1939, Pi .. 100 0 0 — Ditto, 101!, P, .. : inn o (1 — Ditto, 1933, 5', 99 7 i; 0 — Ditio. l'.i:«i, oi 99 0 N.Z. INSCRIBED STOCK. War Loan, 1933, 4J . 99 5 0 inn n 10 n 0 Ditto, 1031, 5i — 98 DEBENTURES Alt Ifar. Bid.. Ml, (1 102 0 () 95 PC, — 0 0 0 City of Auclc., ''19, 5i 93 11) 0 0 0 0 0 Bnr. Hamilton, '17, 'i — Ditto. 1911. U — 87 Papa loci oc, '<'.5, SI .. — 92 MISCELLANEOUS. Au.k. Ga«. J 932, 0 95 n 0 -- Ditto, 1935, M .. 301 0 Gi'-borue Sliecp •• " (1 () 89 0 0 N.Z. Brev.i'i ii-s t j 1) 100 — ■ 0 Williamson's Films . — 0