STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 20965, 31 August 1931, Page 5

STOCK EXCHANGES.

SATURDAY'S SALES. RETURN ON INVESTMENTS. Following is a list of Saturday's transactions on New Zealand Stock Exchanges. In the second column is given the return, based on the last annual'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.

Tho first column gives the figures at which the sales were made:— AUCKLAND EXCHANGE. Return on Sale Price. Investment. £sd £ a d Hauraki Plains, 'G2, 6 100 0 0 GOO Bank of N.Z. .. 2 4 0 0 10 4 Waihi 0 15 6 12 IS 10 Waihi Junction 0 3 0 8 17 9 Ditto . . . . 0 310 813 11 The following sales aloo look place:— Cornish Point, 7id; King Solomon, 3s (2). CHRISTCHURCH EXCHANGE. South British . . 2 10 ■ 3 5 6 1 N.Z. Refrig. (10s (pd.) 0 3 9 _ Tooth's . . . . 017 3 The following Bales also took place:—King Solomon, 2s lOd, 2s 9d; Golden Point, Is 3d. DUNEDIN EXCHANGE. N.Z. Refrig. (10s pd.) 0 3 8 Ditto . . ..0 3 7 * Interim dividend reduced. t TIMARU GAS COMPANY. INTERIM DIVIDEND PASSED. [BY TELEGRAPH. —PRESS ASSOCIATION.] WELLINGTON, Sunday. A letter received from the Timaru Gas, Coal and Coke Company, Limited, by the Stock Exchange Association, states that the board of directors has decided not to pay an interim dividend in respect of the past half-year's operations. ADAIR BROTHERS. DIVIDEND OF 6 PER CENT. [by telegraph.—press association.] WELLINGTON, Sunday. At the annual meeting of Adair Brothers, Limited drapers and mercers, Gisborne, to be neld on September 17, the directors will recommend the payment of a dividend of 6 per cent, free of income tax. KUALA KAMPAR TIN. PROFIT FOR LAST YEAR. Before making allocations for reserves and depreciation, Kuala Kampar Tin Fields, Limited, shows a profit of £2Q,354 for the year ended March 31. Adding £25,520 brought forward, there is £45,874 available. There are deductions of £2427 for costs incurred during two months' restriction of output, £4103 for writing off, and £120,000 as reserve for the electrification of No. 1 dredge, leaving a credit balance of £19,339. The plants ran 10,708 hours, treated 3,619,000 cubic yards and recovered 797 tons of tin oxide.

The profit compares with £62,103 in the 1930 year, and £IOO,IBB for the year ended March, 1929. Last year a dividend of lid a 10s share was paid.

FUTURE OF HAY'S WHARF. GATEWAY OF TOOLEY STREET. The Port of London Authority has decided to seek powers in the next session of Parliament to acquire the undertaking of tho Proprietors of Hay's Wharf, Limited. This company has an issued capital of £2,490,007 in 1,000,000 fully paid ordinary shares, and 1,490,007 fully paid preference shares, and it controls numerous other concerns. Its principal properties are on the south side of the river between London Bridge and Tower Bridge, and it is these wharves, behind which Tooley Street runs, which have a distinctive and valuable _ character, through their identification with the import provision trade of London. To those wharves vessels go with provisions from Scandinavia and other Continental countries, while butter and cheese are conveyed in lighters from the ocean vessels which discharge their cargoes lower down the river from Canada, Australia, New Zealand, and other countries.

CHEAP RAW MATERIALS. EFFECT ON BRITISH PRICES. An illustration of the effect of cheap raw materials is furnished by the following announcement by tho British Carpet Manufacturers' Association:—" Considerable reductions in the prices of carpets were announced after the meeting of the manufacturers' associations on July 15. These reductions have taken the recent fall in the values of raw materials fully into account; the prices of, wool, jute and cotton are now exceedingly low,, and it does not seem probable that, in the absence of entirely unforeseen circumstances, there can be any further reduction."

STOCK SALES. VALUES AT PUTARUHU. The Farmers' Co-operative Auctioneering Company, Limited, report having held the Putaruru sale on Friday, when a good yardins of all classes came forward. Beef and store cattle sold at usual .rates. Dairy cattle, of which a heavy yarding came forward, included a lot of good quality springing heifers, which were keenly sought after. Pign sold at usual late rates. Quotations: — Weaners, 13s Gd to 17s; slips, 18s to 255: stores, good, 27s to 38s: fat cows and heifers, £5 2s Gd to £6 12s Gd; killable cows, £2 10s to £3 7s Gd; fresh conditioned cows, 30a to £2; boners. 10s to 15s: Jersey-cross heifer calves, 19s to 31s; good quality Jersey heifers, close to profit, £7 5s to £9 ss; good quality Shorthorn heifers, close to profit, £7 15s to £lO 2s Gd; Jersey-cross heifers, close to profit, £6 to £8 10s; Friesian heifers, close to profit, £G 2s Gd to £6 15s; heifers, more backward, £4 to £5; small heifers, £2 2s 6d to £2 15s.

WAIHOU PRICES. The Farmers' Co-operative Auctioneering Company, Limited, report:—At the "Wailiou sale on Friday we penned a heavy yarding of sheep and cattle. Prices were slightly easier on fat stock, while late rates were maintained on stores. There was a short yarding of fat pigs, but a heavy yarding of stores and weaners. A small yarding of dairy cows and heifers met with keen competition for the best. Quotations: —Fat wethers, to £1; fat ewes, 10s 9d to 13s sd; fat hoggets, 13a Id to 16s; fat heifers, £5 7s 8d to £6 2s; heavy fat cows. £3 7s 6d to £6 4b; medium, £4 10s to £5, 2s light. £3 to £4 ss; forward conditioned cows. £2 Is to £2 15s; fresh store cows, £1 6s to £1 15s; boners, 10s to £1 2s; 2-year empty heifers, £1 10s to £2 10s: yearling heifers. £1 8s to £1 18s. Pigs: Heavy porkers, £2 5s to £2 12s; light porkers, 36s 5d .to £2 Is; stores. 28s to 365; slips, £1 to 265; weanerß, 18s to 255. Dairy cattle: Extra choice Jersey heifers, close to profit. £8 153 to £ll ss; Jersey heifers, close to' profit, £6 to £8; Shorthorn and Jersey-cross heifers, close to profit, £5 10s to £7; other heifera, backward. £2 15s to £4.