STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 20924, 14 July 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 the return, based on the last annual dividend, from investment at tho quoted price. In tjj,e 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. Tiie first column gives the figures at which tho sales were made:—■■ AUCKLAND EXCHANGE. Return on Sale Price. Investment. £ a. d. £ 8. d. War Bonds, 1033 f>* 90 5 0 5 18 3 Auclc. Transport Bd., 1910. 5i . . . . 93 0 0 5 17 11 Bank of N.Z. . . . 2 7 0 C 2 0 Ditto (late sale Sat.) . . .. 2 8 0 5 10 5 Auckland Gas . . 13 3 Gl7 7 Waihi (late sale Sat.)' 015 6 12 18 10 WELLINGTON EXCHANGE. Bank of N.S.W. . . 25 0 0 7 4 0 Com. Bk. of A us, 0 13 10 * N.Z. Refrig (10s pd.) 0 3 3 CHRISTCHURCH EXCHANGE. Ins. Stk.; 1933, 5! . . 99 7 6 5 16 11 Ditto, 1951, 5i . . 90 0 0 5 11 8 Bank N.S.W. (2) . . 25 0 0 7 4 0 Bank N.Z. .. .. 2 7 9 6 0 1 Ditto .. 2 7 3 6 1 4 Union Bk. Aus. (4) 610 0 5 7 8 Goldsbrougli-Mort . . 1 0 0 5 0 0 N.Z. Refritc. (10s pd.) 0 3.3 N.Z. Breweries . . 115 6 7 010 Wilson's Cement . . 115 3 7 110 The' following sales also took place:— Bank of New Zealand. £2 7s Bd, £2 7s 6d (2); Booth-Macdonald, -1932, 61 per cent., £65; Cornish Point, lid (3); King Solomon. 2a 9.;< i (4); Okarito, 9s 9d; Golden Point (Is paid), Is 8!d, Is 9d (2).

DUNEDIN EXCHANGE. Ins. Stk., 1938, 4i . 08 0 0 4 16 11 Bank of N.Z. ,{2) . . 2 7 G 1 *- 6 0 8 Dalgety . . ~ 6 8 0 * Milburn Lime .. 1 9 0 6 17 11 Christcliurch Gas . . 1 5 0 6 8.0 Standard Insurance 2 f> 9 5 9 3 Waihi Grand June. 0 3 1 10 16 4

The following sales also took place:— King Solomon, 2s 9Jd, 2s 9d. * Interim dividend" reduced.

NEW ZEALAND BREWERIES. DIVIDEND FOR THE YEAR. RATE OF 12J PER CENT. The Auckland-Stock Exchange has received advice from the secretary of New Zealand Breweries, Limited, that the directors will recommend at the annual meeting of shareholders that a final dividend of 64- per cent, be paid. The company paid an interim dividend of 6£ per cent, in December last and the proposed distribution will make 12£ per cent, for the year. In the previous year the company paid 15 per cent. COW'S HEAVY YIELD. JERSEY GIVES 724L8. FAT. BEST INDIVIDUAL RETURN. [from our own correspondent.] HAMILTON, Monday. The best cow tested by the New Zealand Co-operative Herd-testing Association during 1930-31 was .1 grade Jersey owned by Mr. J. McSweeney, of Peria, Matamata, which yielded 7241b. of butter-fat in 324 days. The cow was milked twice a day and ran with a herd of 32 cows on 50 acres. At the time of the first and second tests the cow was not in good health, otherwise an even better yield would have been credited to her.

, FIRMER CHEESE PRICES.

ADVANCE ON LOCAL MARKET. The local price of standard grades of cheese was advanced §d per lb. yesterday in sympathy with the firmer tone of the London market. The price of export quality to retailers was raised from s»jd per lb. to Medium cheese was quoted 3d per lb. above these rates. MERCHANT'S REPORT. Joseph Nathan and Company, Limited, has received tho following cablegram from London, dated July 12:—Butter, 115s. Cheese: White, 59s to 60s; coloured, 61s to 625. Both markets aro firm. ANGLO-PERSIAN OIL CO. DIVIDEND OF 15 PER CENT; The net profit declared by the AngloPersian Oil Company for 1930 was £4,648,579, a reduction of £558,183, and the dividend was reduced from 20 per cent, for 1929 to 15 per cent. Allocations to reserves amounted to £1,050,000, which is £750,000 less than last year, and provision for extra depreciation was £487,217 as against £352,456. After payment of dividends, the balance carried forward was increased by £209,611 to £896,675. The British Government holds 7,500,000 ordinary shares in the company, which .cost on an average 13s 4d each. The Burmah Oil Company holds 2,861,000 shares and through a subsidary 700,000 shares. Of a total issued ordinary capital of £13,425,000 only £2,363,010 'is in the hands of the general public, and of this a considerable amount is understood to be held in large lines by influential interests. 1

MINING DEVELOPMENT. WESTERN AUSTRALIAN WORK. An optimistic view of tho future of goldmining in Western Australia was expressed by,the Western Australian Minister of Mines, Mr. J. Scaddan, in Melbourne recently. He predicted that the prosperity of tho industry would lio in the working of largo deposits on an extensive scale, so that comparatively lowgrado ore may yield a profit. He said that the Sons of Qwalia mine, with the assistance of the Western Australian Government, had developed from a mine which , was threatened by a complete stoppage of operations into one which had prospects at depth equal to or better than those of any other mine in the State. Tho feature of tho Wiluna mine, 350 miles north of K'algoorlie, said Mr. Scaddan, was the magnitude of its operations, the size of which might be gauged from the fact that from the time when ore was fed into the plant until tho first tailings were discarded 12.500 tons of ore would have been transferred from the mine to the plant. The Wiluna mine had" boon developed so well that enough ore to keep the plant working for seven years had been proved down to the 800 ft. level. Mr. Scaddan expressed gratification at the entry of the Broken Hill Proprietary Company, Ltd., into the search for a new goldmining property. It had begun pros pecting work onthe north, end of the Kalgoorlie field..