STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 20979, 16 September 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 the quoted price. In (he 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. The first column gives the figures at which the sales were made:—

. AUSTRALIAN STOCKS. PRICES IN NEW YORK. NEW YORK, Sept. 14. On the Now York .Stock Exchange today Commonwealth 5 per cents., 1955, were quoted at 53J; 1957, 54; 4J, per icents., 49; New South Wales, no sales; Queensland 6 per cents., 61£. • EXCHANGE ON LONDON. "NO CUSTOMERS REFUSED." [BY TELEGRAPH. —rnESS ASSOCIATION.] WELLINGTON, Tuesday. The general manager of the National Bank of New Zealand states that no customers of that bank have been refused New Zealand exchange on London at current rates. BANANAS FROM ISLANDS. MAUI I'OMARE'S SHIPMENT. [BY TELEGRAPH. —PRESS ASSOCIATION.] DUNE DIN, Tuesday. The Government motor-ship Maui I'nmare, arrived yesterday from Apia and Nine Island with ."''ou( 6000 cases • of Samoan and 500 ca. s of Nine bananas. The. fruit is in good condition. -About 2600 cases are being landed here and the balance is for the North. SEARCH FOR OIL. OPERATIONS AT MOTUROA. Moturoa Oil Fields, Limited, report as follows upon operations at New Plymouth for tho week ended September 12:—Moturoa No. 2 well produced 150 barrels of clean oil. Some trouble has been experienced through the well sanding up and tho tubing is now being pulled to clean out the well. THE WAITANGI WELL. [BY TELEGRAriI. —PRESS ASSOCIATION.] GISBORNK, Tuesday. Taraiyiki Oil Fields reports as follows: Waitangi No. 2 well: Wc milled through the easing and drilled ahead 12ft. to 1654 ft. Wo arc now preparing running! an Gin. string. TINFIELDS DIVIDEND. It A WANG'S FIRST PAYMENT. Rnwang Tin Fields, Limited, Federated Malay States, has declared a dividend of 3d a share, payable to shareholders on the Sydney register in Australian currency, pins the exchange premium as at October 9 The dividend is the first tn be declared since the company was formed us an amalgamation of several companies in 1929. Paid up capital is 1,752,007 shares of 10s each, and the amount of tho dividend is £21,900. SYDNEY NEWSPAPERS. INTERIM PREFERENCE DIVIDEND. An interim dividend of 2£ per cent, has been declaied by tho directors of Associated Newspapers, Limited, Sydney, on the 7 per cent, cumulative preference shares. This makes, with the interim distribution of 2 per cent, paid on March 31, a total of 4£ per cent, on account of the year ended September 30. INSURANCE MERGER. BRITISH COMPANY'S MOVE. The chairman of directors of tho Federal Mutual Insurance Company of Australia, Limited, has addressed to t.ho shareholders a letter aplvising them of an offer made by the London Assurance, one of tho oldest and bfcst known of tho British insurance companies, to purchase the shares of the company at a price which the hoard strongly recommends should be accepted. Federal Mutual has v a paid-up capital of £101,958 and paid a dividend of 8 per cent, in 1930. Tho shares, which aro of 20s each, paid to ss, recently changed hands in Sydney at 6s 6d, which was a sharp rise. London Assurance was incorporated bv Royal Charter in 1720. It has an authorised capital of' £2.000.000, and an issued capital of £1,496,500, of which £873.275 has been called' up. From 1925 to 1929 the company paid an ordinary dividend of 45 per cent. NESTLE COMPANY'S DIVIDEND. Nestle and Anglo-Swiss Condensed Milk Company (Australasia),' Limited, has declared its quarterly preference dividend at tho rate of 8 per cent, per annum, payable on October 1.

AUCKLAND EXCHANGE. Return on Sale Price. Investment. £ a. d. £ 8. d. Govt. Bonds, 1937, 51 95 0 0 0 10 7 Ins. Stock, '37, 5} (2) 95 0 0 6 10 7 Ditto, 193S. 4). (2) . 95 5 0 5 6 8 Niit. Bank N.Z. . . 3 9 0 7 4 11 Ditto (late sale Mon.) 3 8 0 7 7 1 Bunk N.Z 2 1 9 (i 17 4 Ditto (late sale Mon.) 2 2 0 G 16 G Com. Bank Aus. (lato Bale Monday) . . 0 13 0 8 13 1 Pukemiro Collieries . 1 7 0 10 IS 2 Wnihi . . . . . . 0 15 8 12 15 3 Ditto 0 15 9 12 13 11 Wnihi Junction .. 0 3 7 9 G 0 The following sales also took pl ate ; Blackwater, 2s 3d: King Solomon. 2s 7d. WELLINGTON EXCHANGE. Ins. Slock. '33. 4* (2) 95 2 G 5 7 1 Ditto, 1937, Si (late sale Monday) . . 95 15 0 G 7 5 Ditto (2) . . . . 95 0 0 G 10 7 Govt. Bonds, 1937, 5} (late sale Monday) 95 10 0 G 8 G Ditto, 1938, 4 5 . . 96 0 0 5 3 11 CHRISTCHURCH EXCHANGE. Ins. Stock, 1938, 41 94 7 6 5 9 10 Ditto 94 15 0 5 8 r Ditto, 1937. 5i (2) 95 0 0 G 10 7 Ditto (2) . . . . 94 10 0 G 12 9 Govt. Bonds, '37. GJ (2) 91 17 ('. G 11 1 Com. Bk. of Aus. (2) 0 13 0 8 13 1 Goldsbrough-Mort .. 0 Hi 0 G 5 0 Ditto (4) . . .. 0 IP) 1 G 4 4 N.Z. Guar. Corp. . . 0 5 1 * N.Z. TJefriir 0 9 0 Ditto <10s pd.) (2) 0 3 8 — The following sales also took place ; Inscribed Stock, 1937, 5J per cent., £'94 15s: Golden Point (Is paid). Is. DUNED1N EXCHANGE. . Com. Bk. of Aus. . . 0 13 0 S 13 1 'Interim dividend rednred.