STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 20988, 26 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 the case of Government and o-her redeemable securities the return includes redemption. In calculating the returns on shares in companies which pay their dividends oatside 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:—

REVIEW OF THE WEEK. AN EVENTFUL PERIOD. BRIGHTER TONE DEVELOPS. The investment market ha 3 experienced a very eventful week and the Auckland Stock Exchange,. following overseas developments, has closed with a decidedly brighter tone, especially for metal and pastoral shares, which responded quickly to higher quotations for base metals and firmer conditions in the wool and produce markets. Apart from the sharp appreciation in these stocks, a fair range of other investments had a recovering tendency. The gilt-edged section, which has held fairly firm since the recent marking down of values, closed a shade easier yesterday, although inquiry covered a satisfactory range. Dealing was active throughout the week in S$ per cent. 1937 bonds and Inscribed Stock, which rose from £95 to £95 5s for a couple of days. Bonds declined to £95 2s tod yesterday and. offers for both bonds and stock eased 5a on last week's rates to £94 15s.

Business in banks gained impetus toward tie end of the week, when gains easily predominated. Commercials of Australia showed little movement with two transactions at 12s lOd. Nationals of New Zealand firmed Is on steady dealing to £3 10s 6d. New South Wales made £25 2s 6d, an advance of ss, and New Zealands recovered 9d from 41s 6d to 42a 3d. The insurance section was fairly steady, with more inquiry at the close. Support improved materially for loan and agency shares yesterday and over the week offers for Ooldsbrough-Morts advanced 4s 3d to 20-5. at which price supplies remained unobtainable, sellers askin'* 22s 6<L Auckland Gas and New Zealand Breweries were traded at the tiro levels of 23s 2d and 23s 9d respectively. Tooth's Breweries were vainly- sought Is 9d firmer at 16s 9d. General investments reflected; the healthier tone in a wider range of inquiry at better levels, particularly for Australian scrip.

The principal business in mining was done "in Waihis, which changed hands up to 15s lid. Grand Junctions also unproved to os lid. Stronger conditions in the metal market were reflected in the rise in Mount Lye Us, which were done 2s 7d higher at 16s 7d. ( Lass week the scrip was unmarketable at 14a 6d. MILFORD AMUSEMENTS, LTD. PROGRESS OF LIQUIDATION. Shareholders of Milford Amusements, Limited (in liquidation), proprietors ot the Pirate Ship. Milford, held a further meeting yesterday, when a comprehensive report on the company's affairs was presented by the liquidator, Mr. R. A. Spinley. The report was adopted and Mr. Spinlev was authorised to sell the assets of the company, or, alternatively, to endeavour to arrange a lease. In Nie mean time, the Pirate Ship is being carried on by the company. MERCANTILE FINANCE. SOUTHERN COMPANY'S YEAR The sixth annual report of the directors of the Mercantile Finance Corpora ticn. Limited, Christdhurch, states that the profit for the year is lower at £2069 From that amount £1834 had been written off against bad debts. In consequence the directors regret they are unable to recommend a dividend to ordinary shareholders. Including the balance brought forward from last year, the net credit to profit and loss account is £296 A dividend has been paid to March 31 on preference shares at 7 per cent, per" annum amounting to £206, leaving available £9O, ont of which the directors recommend that provision be made for three months' accrued dividend on preference shares £69. and to carry forward £2l Full reserve for un matured interest has been carried forward to next year's accounts. Directors have again not drawn any fees. The paid-op capital of the company is £50,592 10s. Formation expenses of £9084 remain in the balance-sheet. No dividend was pais by the company last year. LONDON RABBITS KIN SALES. LONDON. Sept. 24. Afe the rabbit3kin sales 2600 bales were offered There was' fair competition, chiefly by the home trade, and about 60 per cent." was sold. Furriers' sorts showed a slightly improved demand, with prices steady. Hatters' palling sorts were from 10 to 12-i per cent, above July rates, unpuiled i<i cheaper; incoming autumns, 10 per cent, dearer.

AUCKLAND EXCHANGE. Return oh Sale Price Investment £ s. d £ s. d. Bonds, 1937. 5i . 95 2 6 & 10 1 Ditto (late sale. Thursday) . 95 5 0 6 9 r [as. Stk.. 1933, 5i . . 96 15 %C 7 6 4 Ditto. 1937. 51 (late sale Thu rsday J 95 5 0 6 9 7 Nat. Bank N.Z. . 3 10 4 7 3 2 Ditto (late sale Thurs.) 3 10 6 T 1 10 Bank of N.Z (late sale Thursday) . . 2 2 3 6 15 8 Nat. Insurance . . 0 11 9 6 7 8 Auckland Gas . . 13 2 6 IS 1 Colonial Sugar .. 33 0 f 7 11 6 N.Z. Refrig (con.) OSS — Wilsons Cement (late sale Thursday) . . 1 15 6 7 0 10 Waihi Junction . 0 3 11 8 10 2 Mount Lyell . . .. 0 16 7 * The following sale also took place:— Komata Reefs, lid CHRLSTCHURCH EXCHANGE. Bonds, 1937 . 5* .. 95 5 J 6 9 7 Bank Australasia . . 8 0 0 * Nat. Bk. Au3tralaaia (£5 paid) . . 4 5 0 10 0 0 CTnion Bank . . . 6 12 6 5 5 8 Nat. Insurance . . 0 11 8 6 8 6 Goldsbrough-Mort . . 110 4 15 3 Staples' Brewery . 13 6 8 10 3 Mount Lyell i'2) . . 0 16 8 * Ditto <3t . - 0 16 9 The following sales also took place:— King Solomon. '2s (6), 2s Old. 2s Id (2), 2a 3d (4); Mahakipawa 6id; Golden Point, 13 pd.. Is Oid (13). VifELLINGTON EXCHANGE. Ina. Stk., 1938, 4] 5 11 2 (late sale Thursday) 93 15 0 Ditto. 1937, 5i . . 94 17 6 6 11 2 Bonds. 1937 . 5j . . 9*2 0 0 6 15 10 E. S. and A. Bank 3 7 0 * Mount Lyell . ■ 0 16 6 Ditto . . • 0 16 7 The following sales also took place late on Thursday:—Mount Lyell, 16s 3d, 16a lUd. DUNEDIN EXCHANGE. Bonds, 1937, 5; (2) 95 0 0 6 10 7 Ins. Stk.. 1937. 5\ . . 95 0 0 6 10 7 "Interim dividend reduced.