STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 21013, 26 October 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 tho return, based on the last annual dividend, from investment at the quoted price. In the ca:>o of Government and other redeemable securities the return includes redemption. In calculating Ihe 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-

Tho following sales also took plßre:—Mahakipawn, Cjd: Golden Point, 9d (2). 'lnterim dividend reduced. BRUCE WOOLLEN COMPANY. AN UNSATISFACTORY YEAR. [BT TTXEGRArH.—OWN CORRESPONDENT.] DUNEDIN, Saturday. In the annual report to bo presented at the annual meeting of shareholders on November 4, tho directors of tho Bruce Woollen Manufacturing Company state that the company had an unsatisfactory year on account of the prevailing slackness in trade and the continued fall in all prices of woollen goods. Duo attention had been given to the minimising of costs and shareholders wero assured that the company was now in a better position than it had been at any stage during tho past five years to take full advantage of any increase in trade. After stocks of goods in hand and in process of manufacture had been written down to costs based on present prices of raw wool, the net profit for the year amounted to £6518. Provision had been made for depreciation to the extent of £3OOO on plant and buildings, and it was recommended that from tho balance standing to the credit of the profit and loss appropriation account, £3955, the dividend on preference capital amounting to £3500 should bo paid, and that the balance of £455 should be. carried forward.

No ordinary dividend has been paid by the company since 1926, when 7 per cent, was paid on the ordinary shares. In 1919, 1920 and 1921, a dividend of 12 per cent, was paid, in 1922 and 1923, 10 per cent., and in 1924 and 1925, 8 per cent. The report showed a loss on the year 1927 when the shareholders authorised an increase in capital by the issue of 50.000 £1 preference shares. Net profits in 1923 were £7297. and in 1929 £5077. In 1930 thoy were £5465. These sums included tho amount written off for depreciation. FOREIGN EXCHANGES. STERLING SLIGHTLY WEAKER. British Wireless. RUGBY. Oct. 23. The following rates on foreign exchanges are current to-day, compared with the cabled quotations yesterday and

THE PRICE OF GOLD. Gold is quoted nt 105s 8d per oz. Silver is quoted at 17 5-16 d per oz. spot, and 17gd forward. STERLING AT MONTREAL. (Received October 25, 5.5 p.m.) MONTREAL, Oct. 24. Sterling was quoted to-day at 4 dollars 36 cents, the same as yesterday. CUSTOMS EXCHANGE RATES. Rates of exchango ruling at the an-' nounced date of departure of the vessels named arc shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on the arrival of the vessel in New Zealand, finally declared rates being marked* : City of Enetbourno, U.S.A., dollars . . 3.U1 (loldcsn West, U.S.A., dollars .. .. 381 Brisbane Maru, Japan, yen . . . . 30 Canadian Cruiser. Canada, dollars . . 4.H5 Aorangi. Canada, dollars . . . . 4.37 Sierra, U.S.A.. dollars 3.855 Wuiotapu, U.S.A.. dollars . . . , 3.875 LONDON SHEEPSKIN MARKET. Dalgety and Company, Limited, has received the following cablegram from its London house, dated October 23:—Sheepskins.—9726 bales were offered and 6208 bales were sold. Quotations: Merino, three-quarter to full-woolled, 4d to 6d; Merino, quarter to half-woolled, 2;d to 4d; short and shorn, l£d to 2Jd; crossbred, three-quarter to full-woolled, fine, 4£d to 6d; crossbred, fhree-quarter to full-woolled. medium and coarse, 4d to 5Jd; crossbred, quarter to half-woolled, fine, 4d to sd; crossbred, quarter to halfwoolled, medium and coarse, 4d to 4^d; crossbred, short and shorn, 2|d to lambs, 4d to sid.

DAIRY PRODUCE PRICES. The Now Zealand Producers' Co-opera-tive Marketing Association has received the following cablegram from London, dated October 23:—Butter: Ne\v Zealand, 114s to 120s; unsaltod, 116s to 120s; Danish, 138s to 140s. Tho market is steady Cheose: White and coloured, 65s to 675. The market is quiet. A. H. Turnbull and Company, Limited, has received the following cablegram from its principals, W. Weddel and Company, Limited, dated London. October 23:—Danish butter, 138s to 140s; New Zealand unsaltod butter, 116s to 120s; sailed, 114s> to 120s. Tho market is steady. New Zealand cheese, white and coloured, 65s to 675. The market is quiet. ♦

Keturn on Sale Price. Investment. £ 6 d £ a d Bonds, 1933, Si 99 15 0 5 13 8 Ditto, 1936. 5i 99 15 0 5 11 2 Bank of N.Z. . . 2 4 9 6 8 1 Dom. Investment . . 0 17 0 8 4 8 Auclc. Gas (con.) . . 0 1G 11 7 1 10 Luto ealee Friday: Bonds, 1937, 5J 99 15 0 5 11 0 Farmers' Trad. (B pf.) 0 10 6 9 6 8 Waihi 0 16 3 12 G o WELLINGTON EXCHANGE. Bank of N.S.W. 25 5 0 * CHRISTCHURCH EXCHANGE. Bonds, 1937, 5 J 99 15 0 6 11 0 Ditto 99 10 0 5 12 0 Bank of N.S.W. . 25 10 0 * Goldsbrough-Mort . . 116 4 13 0 N.Z. Breweries . . 1 11 5 7 19 0

par:— Oct. 23. Oct. 22. 1'nr. Montreal, dol. .. 4.35 4.40 4.8i>(> Xow York, dol. . 3.92 3. S3 4.866 Paris, fr. 99.5 100 124.21 Brussels, belga . 2r 23.25 3-5.00 Geneva, fr. — 25.22 Amsterdam, fl. . Milan, lire flj — 12.10 75 — 92.46 Berlin, r.m. ]"&} — 20.43 Stockholm, kr. .. J 6.75 — 18.159 Oslo, kr. 17.75 17.75 18.159 Copenhagen, kr. . 17.75 17.75 18.15!) Vienna, sch. SO.5 30.5 34.585 Prague, kr. 132 133 24.02 HelaingforB, mark 191.5 192 129.23 Madrid, peg. 431 41 25.225 Lisbon, escu, .. 109,75 109.75 41 Athens, dr. 320 320 375.00 Bucharest, lei. .. 656 000 25.225 Bio de Janeiro, mil. 3 13-16 3) 5.899d Buenos Aire/i, dol. 32J 32 J 47,57d Montevideo, dol. 22 21 47.57d Bombay, rupee . 17 SI.32 17 29-32 lSd Shanghai, tael .. is; 13} — Hongkong, dol. . 14} 14} — Yokohama, yen . 29 i 29J 24.58d