BANK OF ENGLAND

New Zealand Herald, Volume LXIX, Issue 21329, 2 November 1932, Page 7

BANK OF ENGLAND

SUMMARY FOR OCTOBER THREE RECORDS MENTIONED LONDON, Oct. 31 The Bank of England's statistical summary for October, giving the figures since 1925, mentions three records. Its public deposits on October 19 amounted to £30,800,000, compared with £19,100,000 at the same date in 1931. London clearing banks in September held on «urrent deposit and in other accounts £1,864,900,000. Their advances to customers readied the low record of £802,700,000. THE LONDON MARKETS QUOTATIONS FQR METALS TIN AND COPPER EASIER • LONDON, Oct. 31 Following are to-day's quotations on the London metal market compared with those of October 27: Oct. 31 Oct. 27 -Per ton Per ton £sd £ e d Copper, stiin., spot . . 30 5 1\ 30 12 6 Copper, stan., 3 inos. 30 9 4i 30 15 75 •Copper, electrolytic . . 35 5 0 35 0 0 to to 35 15 0 3fi 0 0 Copper, elec., wire bars 35 15 0 36 0 0 Lead, soft, spot . . 11 16 3 11 12 6 •Lead, soft, forward . . 12 0 0 11 17 G Spelter, epot . . 15 2 6 15 1 3 Spelter, forward . . 15 6 3 15 5 0 Tin, stan., spot . . 152 12 6 153 0 0 Tin, stan., 3 mos. . . 153 R 9 153 12 6 •American 5.25 cents a lb., compared with 5.50 cents on October 26. GISBORNE SHEEPFARMERS IMPROVED RESULTS PAYMENT OF DIVIDEND The directors of the Gisborne Sheepfarmers' Frozen Meat and Mercantile Company, Ltd., recommend the payment of one year's freezing and mercantile preference dividend out of the profit of £3145 earned for the year ended August 31. Less the 20 per cent reduction, this will absorb £7BO, leaving £2365 to be carried forward, which, together with the proposed transfer of the leasehold sinking fund reserve of £2313, will reduce the debit in the profit anil loss appropriation account to £8430. The frec2.ing department showed a profit of £3270, as against a loss of £7156 in the previous year. The profit in the mercantile department amounted to £626, after allowing £751 surplus assets expenses. The freezing preference shares receive 6 per cent and the mercantile preference 7 per cont. The dividend on both classes of shares was last paid in 1929. In addition to a paid capital of £213,920, the company has £300,000 debentures on issue.