STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 20894, 9 June 1931, Page 5

STOCK EXCHANGES.

YESTERDAY'S SALES.,

RETURN 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 the quoted price. In the case of Government and other redeemable securities the return includes redemption. In calculating the returns on shares in companies which, pay their dividends outside New Zealand exchange rates, being liable to fluctuations, have not been taken into consideration. Hie first column gives tho figures at which the sales were made:— AUCKLAND EXCHANGE. Return on Sale Price. Investment. £ad £ s d Com. Bank of Aus. . 014 2 816 5 Bank of N.Z. .. 2 8 0 519 5 South British Insur. 2 H 0 5 4 7 Auckland Gas . . 13 0 (i 19 2 Waihi Mining . . 014 8 13 12 8 Waihi Grand June. 0 211 217 1 Ditto . . . . 0 2 lli 216 3 Hie following salo was also made:— King Solomon, 2s 6d. WELLINGTON EXCHANGE. . The following sale took place:—Wellington Racing Club debentures, £lO2 ss. CHRISTCHURCH EXCHANGE Aus. Bank of Com. 013 4 710 0 Bank of N.Z. .. 2 8 1 519 3 •N .6. Breweries . . 114 2 7 6 4 _ Th ® following Bn ]es also took place:— hngnsh, Scottish and Australian Bank, £3 ;§*• N.Z Refrigerating (10s paid). 3s lid (2). 3s lOd; Mount Lyell, 16s lOd (2); King Solomon. 2s 6d, 2s Bd, 2s 9d, 2s lOd (2), 2s 9d (3). DUNEDIN EXCHANGE. The following sales took place:—King Solomon, 2s 9d (2), 2s 8d (3). OUTLOOK FOR WOOL. GENERAL FALL IN PRICES. LONDON, June 7. The Australian Woolgrowers' Associalion's representative in London, Mr. Devereux, reports that with no desire to be other than hopeful or take a broad view, the outlook cannot be ignored. Reports from most of the wool centres are discouraging, trade is very dull and the general fall in prices both of raw and semi-manufactured wool and the easier markets make it increasingly difficult to sell either wool tops or yarns. Users are holding aloof in the expectation of still lower prices. The principal topic in Yorkshire is the possibility of labour troubles owing to the necessity for reducing wages to bring manufacturing costs more into line with those of competitors. Business in tops and yarns favours buyers and the continuance of the Roubaix and Tourcoing strike practically has brought business to a standstill. WINTER CRUTCHINGS SALE. AUCKLAND FIXTURE. Auckland wool brokers have not yet been able to fix a date for a winter crutchings sale. The Wool Buyers' Association has been approached with the request that a sale be arranged durinjr August, but so far Auckland has not been advised whether this is suitable. Buyors have been trying to arrange for one sale in each centre, necessitating only tho one trip through the Dominion during tho winter, but some of the southern centres have demanded two sales and this has held up the announcement of definite dates for New Zealand. NEWSPAPER LOSSES. YEAR'S DEFICIT OVER £200,000. A trading loss for 1930 of £161,195 is reported by United Newspapers, Limited, a big English concern, which owns a 50 per cent, interest in the News-Chronicle and tho Sunday News, and a controlling interest in Provincial Newspapers, Limited. The company is controlled by the Daily Chronicle Investment Corporation, Limited, winch, in turn, is controlled by the Inveresk Paper Company, Limited. Adding depreciation, interest and tax, etc.. there is a total deficit of £223,435. There, were lively interchanges at the annual meeting held on April 30, between tho chairman, Mr. If. Brent Grotrinn, K. 0.. and Mr. William Harrison. The chairman said the company's difficulties had their inception in October, 1928, when Mr. William Harrison acquired control on behalf of the Inveresk Paper Company, Limited. Heavy commitments for new plant and machinery had been entered into at that time, but no provision whatever appearsed to have been made to meet thoso heavy liabilities, although tho company was already indebted to its bankers to tho extent of £200.000. Mr. Harrison said that when he came into office the overdraft was £200,000, and it was the same when he went out, although they had paid £70,000 on account of machinery. "When the new plant was getting ready certain other gentlemen were getting ready to down the Daily Chronicle," he added. "They saw tho rod danger signal. Tho Chronicle was murdered in a night. At a subsequent requisitioned extraordinary general meeting a committee of shareholders was appointed to investigate the position. NEW AUCKLAND COMPANY. The following private company has been registered in Auckland: — Beale and Company, Limited, general merchants, warehousemen, dealers, retail traders, storekeepers, etc. Capital, £12,000 in £1 shares. Subscribers: John Ifenrv Beale, 11,400 shares; Thomas Carter, 300 shares; Lilian Evelyn Beale and Robert Worthington, 150 shares each. ROMNEY STUD SALE. A dispersal salo of the well-known Mahua Romtiev stud, owned by Mr. E. E. Short, of Feildfng, will be held at Foilding on Juno 25. 'J he Mahua flock was formed from sheep of the Parorangi stud, bred, by tho lato Mr. E. Short. Prices as high as 600 guineas are reported to have been paid by Australian breeders for rams from the Mahua stud. Tho fiock is maintained at Waituna on country 1200 ft. above sea level, under conditions that ensure tho animals having a fine constitution. SEARCH FOR OIL. [BY TELEGRAPH. PRESS ASSOCIATION.] WELLINGTON. Monday. Coal Oil (N.Z.), Limited, reports for the week ended June 6 as follows: "Drilling with fish tail bit in packed mud at 2757 ft." BULOLO GOLD. LIMITED. Bulolo Gold Dredging, Limited (Now Guinea), reports that, owing to the satisfactory state of the finances, the due date of the seventh call has been post poned from July 15 to August 15. Trans portation of the dredge hulls and equipment from Lac to tho dredging sito by aeroplane : s proceeding satisfactorily and tho first dredge hull is in process of erection.