BANK DIVIDEND.

New Zealand Herald, Volume LXIX, Issue 21098, 4 February 1932, Page 5

BANK DIVIDEND.

NEW SOUTH WALES INTERIM. RATE OF 6 PER CENT. The directors of the Bank of New South Wales have declared a quarterly dividend of 6s a share, payable in Australian eurlency on February 29. The dividend is for the quarter ended December 31, the first of the "bank's new financial year. It. is at the same rata as that paid for the previous quarter, but is at the rate of 6 per cent, per annum, against 8 per cent, for the last financial year, which ended on September 30 last. The bank's paid-up capital is £8.780.000, having been increased from £7,500,000 in September, 1931, following the absorption of the Australian Bank of Commerce. Jhe new capital participated in the dividend paid for the quarter ended September 30. THE PRICE OF GOLD. SLIGHT FALL IN LONDON. QUOTATIONS FOR SILVER. LONDON", Feb. 2. Gold is quoted to-day at £5. 19s 7d an ounce, compared with £6 0s 2d* yesterday. Silver is quoted at 19 5-8 d an ounce spot, and 19 13 16d forward, compared with 19 5-16 d and 19jd on January 51. DAIRY PRODUCE PRICES. BUTTER UP TO 103s A CWT. CHEESE ALSO IMPROVING. The improvement in the London market for New Zealand butter continues. Quotations have advanced to 105s a cwt.. a rise of 2s. and although quieter the market is firm. Cheese is also gaining ground and the latest quotations are Is to 2s a cwt. higher. Merchants have received the following cablegrams from their London houses, dated February 2:— Joseph Nathan and Company, limited. —Butter, 103s; cheese, white, 635; coloured, 625. Both markets are firm but quieter. New Zealand Co-operative Marketing Association. Limited.—Butter: New Zealand. 101 s to 103s; Danish, 1235. Cheese: White, _ 62s to 635: coloured, 62s to 635. Both markets are firm. THE LONDON MARKETS. PRICES FOR METALS. COPPER AND TIN FIRMER. (Received February 3. 8.45 p.m.) LONDON, Feb, 5L (Quotations on Feb. 1 in parentheses.) Copper.—Spot, £3B 4s (£37 13s ' lid); three months, £33 Is lOid (£37 13s 9d). Copper.—Spot, £43 10s (£45) ; three months, £44 10s (£46). Wire Bars.—£44 10s (£461. Lead.—Spot, £l4 12s 6d ' ',£l4 10s); three months. £l4 15s (£l4 12s 6d). Spelter.—Spot, £l4 3s 9d (£14); three months, £l4 lis 3d (£l4 7s 6d). Tin.—Spot. £l4O 18s 9d (£139 13s 9d); three months, £143 lis 3d (£142 8s 9d). ■"American 6.75 cents a lb:, compared with 7.5 cents on January 13. AUSTRALIAN STOCKS. ' LOWER LONDON QUOTATIONS. TUESDAY'S TRANSACTIONS. LONDON", Feb. 2. \ Australian stocks were further marked down on the London Stock Exchange today. Dealings were as follows, the figures in parentheses being yesterday*l sales: Commonwealth 5 per cent., 1945-75, £77 10s (£79 10s); 6 per cents., 1931-41, £9O (£92). Victorian, 5A per cent.. 193040. £BO (£83); 5 per cent., 1932-42, £72 10s. New South Wales, 3-j per cent., 1930-50. £56 (£6O)-: 5J per cent., 1922-32, £B4 10s (£86); 6£ per cent, 1930-40, £3O (£B2 10s). Queensland. 5 per cent., 1940£72 (£73 ss); 6 per cent.; 1930-40, £33. Western Australian, 6 per cent., 1930-40, £B3 (£36). FURTHER FALL IN NEW YORK. NEW YORK, Feb. S. New South Wales issues crashed on the opening of the New York bond market this morning. The 5 per cent issue, 1957, ; lost 5g points in the first sales.

CELLULOSE FROM FLAX. SUCCESSFUL -EXPERIMENTS. The statement that experiments conducted in Australia bare proved that selected New Zealand flax has yielded as high as 71.575 per cent, of alpha cellulose, is made by Mr. A. K. Willson, of Sydney, in a letter to the Hekald. Cellulose is used for making artificial * silk yarns, cellulose hydrate transparent sheets, moulded plastics, decorative wall boards for panelling and for paper. For the production of these goods white spruce supplies 85 per cent, of the pulp requirements. Mr. Willson says that the percentage of cellulose yield from the selected flax is substantially in excass of the highest yields yet obtained from ■whits spruce. To produce the goods of which cellulose is the basis, over 3.000.000 tons of green leaf would be required annually. N.Z. REFRIGERATING CO. PAYMENT OF DIVIDEND. The New Zealand Refrigerating Company advised the Auckland Stock Exchange yesterday that, subject to confirmation at the meeting at Chrisichnrch yesterday, the dividend of 5 per cent, on ordinary and contributing shares would be distributed on Saturday. This is the first dividend the coihpanv has paid since 1928. DISPOSAL OF OLD GOLD. WESTERN AUSTRALIAN SALES. No fewer than 700 parcels of old gold were received at the branch of the Royal Mint at Perth. Western Australia, duricg December. These comprised medals, watches, brooches and all manner of jewellery, most of which was old-fash-ioned. The amount paid tor ibis gold last year was more than £20.000. The deputy-master of the mint, Mr. H.- A. Corbet, discussing the matter recently, mentioned the fact that several Perth cups had been deposited with the tnint authorities, the owners being satisfied with replicas of the cups and preiemng to have the value of the gold, ™pch, wiih the premium, in the case or a ferta cup, would be fairly considerable. MARKET FOR |TIN. XiOjSUOX. Feb. 2. Tin • Visible, 49.570 tons; spot, 2139; NEW TOEK, Feb. 1. Tin: February, 21 dollars 15 cents (bid)*