STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 20986, 24 September 1931, Page 5

STOCK EXCHANGES.

YESTERDAY'S SALES. RETURN ON INVESTMENTS. Following is a list of yesterday's transactions 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. Jn 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: —

Gicl; Okarito, 8a 2d (2). DUNEDIN EXCHANGE. British Tobacco . . 1 0 G * Tim following pules also look place: Okarito. 8s; (Jolden Point, Is Uato sale Tuesday). ■"interim dividend reduced. SYDNEY STOCK EXCHANGE. RISE IN MANY SHARES. INVESTMENT ACTIVITY. (Received September 23, 5.15 p.m.) SYDNEY, Sept, 23. Assisted I>y tlio general jiso in commodity markets overseas, tlio Sydney investment market to day presented a strong front. Prices of ;ill leading company and pastoral shares showed appreciable gains. Another outstanding feature was the rise in Broken Hill mining stocks, which responded sharply to the enhanced values of industrial metals. Trading in banking stocks was fairly extensive, the demand being especially strong for Commercial of Sydney. SKELTON, FROSTICK CO. VOLUNTARY LIQUIDATION. PROPOSAL FOR SHAREHOLDERS. The chairman of directors, Mr. B. A. Frostickj» of Skelton, Frostick and Company, Christchurch, has notified shareholders that as a result of a further year of adverse trading they are compelled to recommend that the company go into voluntary liquidation. " Notwithstanding the utmost efforts," the chairman says, " the volume of business secured totalled only half a normal year's output, and in view of the extreme depression existing, and as your directors cannot foresee any improvement in the near future, these facts, coupled with the plarge amount owing to the bank, leave no alternative." The formal notice to shareholders is as follows: — " Notice is hereby given that an extraordinary general meeting of the shareholders of Skelton, Frostick and Company, Limited, will be held at the registered office of the company, Hereford Street, Christchurch, on Wednesday, September 30, when the following extraordinary resolution will be submitted to the meeting:—' That it has been proved to the satisfaction of this meeting that the company cannot, by reason of its liabilities, continue to carry on its business, and that it is advisable to wind up the same, and accordingly that tlio company be wound up voluntarily, and that Mr. Ilarrv Burrows Duckworth, of Christchurch, merchant, be, and he is hereby appointed, liquidator of the company for the purposo of such windingup.' " The balance-sheet to July 31. 1930, showed an adverse balance of £9477 16s lid, which included the loss of £3877, brought forward from the previous year. Against this there remained an amount of £3343 standing to the credit of stock depreciation and bad* debts contingencies account. In addition to the debit balance there was an accumulation of dividends, due to preference shareholders, of over £SOOO, and the directors recom_mended that tlio preference shareholders be asked to forgo dividends to March 31, 1031. It was also proposed to write down the ordinary capital of the company of £30,362 10s, representing 12,145 fully-paid shares of £2 10s each, bv £1 10s per share, thereby reducing them to £1 each.WOOL SALES nnCES. GOOD LONDON COMPETITION. LONDON*, Sept. 22. At the wool sales 0052 bales were offered, including 4896 from New .Zealand, and about 7014 sold. There was good general competition, with prices firm. New Zealand scoured Merino clip, Br-aemar, made top price, 18d, average greasy crossbred clip, Whiriloa, 7d and 6^d; slipes, Pukeuri, and 7£d. ADVANCE IN CROSSBREDS. HALFPENNY TO PENNY HIGHER. The Bank of New Zealand has received the following advice front its London office, dated September 22: —Compared with the opening of this series of wool sales, all crossbreds arc jfl to a Id higher. NEW AUCKLAND COMPANY. The following private company has been registered in Auckland: — W. T. Jupp, Ltd., manufacturers, indentors, importers and wholesale and retail dealers in textile fabrics of all kinds, leather goods and general personal and household requirements, etc. Capital, £IOOO. in £1 shares. Subscribers: William Thomas Jupp, 600 shares; Olive Jupp and Frederick William Jupp, 50 shares each.

AUCKLAND EXCHANGE. Return on ! Sale 1'rice. Investment. £ s d £ a d Bonds, 1937, 5J . 95 0 0 0 10 7 E.S. and A. Bank . 3 7 0 * Auckland Gas I 3 2 0 18 1 X. Z. Breweries 1 8 9 8 13 11 Farmers' Trading 0 5 '1 12 0 0 Wilsons Cement 1 It G 7 4 1L Waihi (2) 0 15 n 12 13 11 Waihi Junctions 0 3 8 9 1 10 The following sale nlfo took place:—G isborne 'Sheepfarmers, 1911, G per cent.. £72 10s. WELLINGTON EXCHANGE. Bonds. 1037. 51 95 0 0 G 10 7 Nut. Bank of X.Z. (late sale Tue.H.) 3 9 0 7 4 11 Bank of X'.Z (late sale Tues.) 2 1 C C 18 2 Ditto, D prof. (late sale Tues.) . . 1 C 1 5 13 8 X.Z. Guar. Corp. (2) (late sales Tues.) . o 5 r> * Ditto 0 111 * Ditto (pref.) i o c, G 1G 7 Gear Meat i 3 G * CHRISTCHURCH EXCHANGE. Ins. Stock, 1037. 5i 95 7 G GOO Ditto 95 2 t; G 10 1 Com. Bank of Aus. 0 12 8 8 17 7 (!oldsbrough-Mort 0 18 0 5 11 1 West port Coal i g * X.Z. Breweries ('2) . 1 9 0 8 12 5 Tooth's (2) 0 ](» 5 * X.Z. Refrifr. (10s pd.) (2) 0 3 8 — Ditto (2) 0 3 — Mount Lyell (2) 0 15 9 * Dido (D 0 it; 2 * Waihi 0 15 10 12 12 8 Ditto 0 15 11 12 11 4 The following sales also took place:— Mount Lyell, 15s lid, 10s (2) ; Mahakipawa,