STOCK EXCHANGES

New Zealand Herald, Volume LXIX, Issue 21345, 21 November 1932, 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 sbcoikl 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 no return is given, in view of the new method of quotation, but the months in which interest is due nre shown. In calculating the return on shares in companies which pay their dividends outside New Zealand exchange rates, being liable to fluctuation, have not been taken into consideration.

The first column gives the figures at which the sales were made:—

AUCKLAND EXCHANGE Return on Sale Price Investment £sd £ s d Bank of. N.Z. ..257 N.Z. Insurance . . 2 3 0 413 0 South British . . 216 0 415 3 Auckland Gas (con.) 015 0 * Australian Glass . . 2 0 0 3 0 0 British Tobacco .. 1 10 9 8 18 1 Waihi . . . . 0 18 8 10 14 3 Waihi Junction ' . . 0 3 7 9 6 0 WELLINGTON EXCHANGE Bank of N.Z. .. 2 5 9 • Ditto . . .. 2 6 0 * British Tobacco (2) . 111 3 316 10 The following sales also took place:— Golden Dawn, 5s 4d, 5b 3'jd; Paddy's Point, 5s fid, 5s 7d; Gillespie's Beach, 3id premium. DUNEDIN EXCHANGE The following sales took place:—Nokomai, 6s 3d (5), 6s 4d; Okarito, 9s 2d (2). 'lnterim dividend reduced.

FARMERS' DISTRIBUTING

LOSS OF £3289 SHOWN

DIVIDEND AGAIN PASSED

A net loss of £3289 is disclosed in the accounts of the New Zealand Co-operative Distributing Company, Limited, Wellington, for the year ended September 30. This compares with a profit of £1354 in the previous year. Full provision for bad and doubtful do!>ts and depreciation is included in the stated loss. The balance of undivided profits at the end of the 1930-31 year was £2910.

It is proposed to write £1230 off properties. All outstanding accounts and advances have been carefully reviewed on a conservative basis, and provision made where necessary, the reserves, which total £15.339, being left intact. The directors regret that tho company's operations have resulted in a loss, but owing to the abnormal conditions prevailing, with tho disastrous fall in prices ruling for farmers' produce, and tho unfavourable outlook for the coming season, it was considered prudent to, make heavy provision for possible losses in advance accounts, and also to hold in suspense a large amount of interest accrued on accounts.

The retiring directors, Messrs. E. Eagle, G. L. Marshall and A. Stuart, have been nominated for re-election. Mr. T. V. Caverhill, of Masterton, has also been nominated. This will necessitate an election for the return of three directors.

The capital of the company is £133,681. No dividends have been paid since 1929, when the distribution was at the rate of 7 per cent.

SYDNEY STOCK EXCHANGE

SATURDAY'S BUSINESS

SYDNEY, Nov. 19 On the Sydney Stock Exchange this morning sales were: Commonwealth 4 per cent bonds; 1938, £lO2 lis 3d; 1944, £lOl ]2.< 6d. £lO bonds, 1938, £lO 3s 6d; 1941, £10; 1953, £lO Is; 1961. £lO. New Zealand 5£ per cents, 1937, £11; Bank of NVw South Wales, £3O 9s 6d; Toohey's Brewery, 21s 3d; Tooth's Brewery, 35s 6d ; Associated News, preference, New Zealand delivery, 15s 7jd; Broken Hill Proprietary, 25s 6d; Burns, Philp, 48s 9d; Colonial Sugar, £52; Dunlop Pcrdriau, 17s 1-J.d; Wilcox and Moftlin, 5s 9d; Winchcombe, Carson, 23s 6d.

GOLD AND SILVER

QUOTATIONS IN LONDON

(Received November 20, 5.5 p.m.) LONDON. Nov. 19

Gold is quoted to-day at £6 5s an oz., compared with £6 4s on November 17.

Silver is quoted at 18& d an oz. spot,tand 18 3-16rl forward, compared with 18d and 18gd on November 16.

FOREIGN EXCHANGES DEPRECIATION OF STERLING British Wireless RUGBY, Nov. 18 Tho following rates on foreign exchanges are current, compared with the cabled quotations on November 16 and par:— Nov. 18 Nov. 16 Par Montreal, dol. .. 3.78 3.78 4.866 New York, dol. . 3.305 3.312 4.866 Paris, fr. .. 818 84| 124.21 Brussels, belga .. 23 27-32 23.925 35.00 Geneva, fr. .. 17.175 17.24 5 25.22 Amsterdam, fi. .. 8.225 8.265 12.10 Milan, liro .. 64.50 64 13-16 92.46 Berlin, r.m. .. 13.90 13.955 20.43 Stockholm, kr. .. 18.825 18.90 18.159 Copenhagen, kr. . 19.25 19.25 18.159 Oslo, kr. .. 19S 19 11-16 18.159 Vienna, Srh. .. 28t 2St 34.585 Prague, kr. .. 1113 112 164.25 Helsingfors. mark 230 230 129.23 Madrid, pes. .. 40.50 40 9-16 25.221 Lisbon, escu. .. 109 109.50 110 Athens, dr. .. 580 580 375.00 Bucharest,, lei. . . 555 565 813.6 Rio de Janeiro, mil. 5.50 6:4t 5.809 d Buenos Aires, dol. + t 47.619 d Montevideo, dol. 30t 30t 51d Bombay, rupee .. IS 7-32 18 3-16 lSd Shanghai, tael .. 21 11-16 219-16 Hongkong, dol. . 165 163 Yokohama, yen . It 11-16 14 1 3-16 24.58 d Batavia, fi. .. 8.215 8.29 12.10 Belgrade, din .. 215 215 276.31

CUSTOMS EXCHANGE RATES Rales of cxchango ruling at the announced dale of departure of the vessels named are shown in the following table. They are subject lo confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*: —

Canadian Leader, Canada, dollars . . 3.GB} City of Atleliiide, America, dollars . . 3.2'JJ Golden Coast, America, dollars , . 3.30 i Aorangi, Canada, dollars . . ~ 3.77 Port Hunter, America, dollars . . 3.23} Melbourne Maru, Japan, yen . . . . 15.50 d

STERLING IN NEW YORK DECLINE AND RECOVERY LONDON, Nov. 18 Sterling oil New York to-day receded to 3 dollars cents, the lowest point this year, owing to fears that the payment of the war debt to America in December will deplete Britain's Exchange Equalisation Fund, rendering the authorities unable to support the pound, which will fall to a lower level.

Heavy seasonal payments for cotton and wheat contributed to the sterling decline, from which it later made a sharp recovery to 3.29. The franc rate also improved from 83| cents to 84.