AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXX, Issue 21576, 22 August 1933, Page 5

AUSTRALIAN EXCHANGES

YESTERDAY'S BUSINESS SYDNEY VALUES WEAKER (Received August 21, 7.25 p.m.) SYDNEY, Aug. 21 On the Sydney Stock Exchange today values opened with a somewhat hesitant tone and moved irregularly, closing generally weaker. Pastoral shares wero the only exceptions. This morning's sales included:—Commonwealth 4 per cent bonds, 1941, £lO3 8s 9d; 1950, £lO3 17s (3d; 1953, £lO3 10s; 1959, £lO4 lis 3d; Associated News, 8s 4d; Australian Glass, 50s; Broken Hill Proprietary, 37s 4jd; Howard Smith, 10s Bd. Sales this afternoon included: —Bank of New South Wales, £33; Commercial Bank of Sydney, £l7 10s; Colonial Sugar, £59 ss; Burns-Philp, 52s' Gd; Associated News, 8s 3d; ditto, preference, 18s 10jd; Anthony Hordern, 10s sd; Australian Glass, 50s; David Jones, 275; Farmers, 12s; Goodyear, 7jd; Millaquin Sugar, 27s 6d; Howard Smith, 10s 9d; British To bacco, 35s 4Jd; Carlton Brewery, 39s IJd; Dun-lop-Perdriau, 18s 3d; Meggitts, 20s 4UI; Hoyts, A preference, 14s 9d; Hoyts, B preference, Gs 9d; Goodlet and Smith, lGs 3d; Tooth's Brewery, 3Ss lsd; Mount Morgan, 33s 9d; Bulolo Deposits, 2s 8d; Broken Hill Proprietary, 37s 3d; South Broken Hill, 58s 3d; Norths, 82s 9d. Commonwealth Bonds were easier all round. Melbourne sales included:—Union Bank, £9 4s; Herald and Weekly Times, 455; Tooth's Brewery, 38s 6d; North Broken Hill, 82s Gd; Zinc Corporation, 33s 9d. GOLDMINING INDUSTRY WEST AUSTRALIAN REVIVAL KEEN EXCHANGE OPERATORS The goldmining industry revival in Y\ estern Australia has been one of the bright spots in the dark period through which the Commonwealth has been passing, states a Perth correspondent of the Melbourne Age. The industry lias received a fillip from the enhanced price of gold, which has given it new life and helped it to introduce modern methods in handling and the treatment of ore on the larger mines. To-day most of the larger goldmining companies are on a sounder basis than at any time during the past decade. They have spent hundreds of pounds received in the form of an exchange premium and the enhanced .prico of gold in developing their properties, opening up new ore bodies and installing modern plant. At the same time five large companies operating on the Golden Mile have returned to the dividend list. Six big companies operating on the Boulder belt— Lake View and Star, Great Boulder, South Kalgurli, Boulder Perseverance, Associated and' North Kalgurli—are at present handling close on 80,000 tons of ore a month, whereas nine years ago the average monthly output from the same area was only 47,200 tons_ in the samo period. Wiluna has come in, and the big mine there is now responsible for approximately 40.000 tons a month. Operators on the Adelaido Stock Exchange on August 12 bid eacerlv for the scrip of all the principal Western Australian goldmining companies. Tho turnover was 47,000 shares in two hours and a-lialf, making a total of 1167,000 for the week. It was the most active meeting since tho boom days of many years ago. Rises of up to Is lid wero reported in some stocks. DAIRY PRODUCE PRICES MARKET REMAINS STEADY Joseph Nathan and Company, Limited, has received the cablegram from Trengrouse and Nathan, Limited: —Butter: Fresh landed, 925; stored, 90s. The market is quiet, but firm. Cheese: White, 495; coloured, 525. The market is very quiet. ADELAIDE STEAMSHIP INCREASE IN DIVIDEND A final dividend, of 3 per cent has been declared by tho Adelaido •Steamship Company, Limited, bringing the dividend for the year ended June 30 to 5 per cent. Distribution will be made on September 12. This is an increase from 4} per cent for the previous year. VICTORIA INSURANCE NET PROFITS INCREASED Accounts of tho Victoria Insurance Company, Limited, Melbourne, for tho vear ended Juno 30 show a net profit of £42,457, against £35,520 for 1931-32. Tho directors recommend payment of a further dividend of 2s Gd and bonus of Gd a £2 share, making 5s a share for the year. Dividend for 1931-32 was 4s a share. WINCHCOMBE, CARSON, LTD. NET PROFITS INCREASED Details of tho accounts of Winehcombe, Carson, Limited, woolbroking and produce agency, Sydney, show that net profits increased by £1854 to £41,016. Dividend is maintained at 6 per cent and requires £30,000. A sum of £IO,OOO is carried to reserve and the balance of £lOl6 added to £2GO/ brought forward gives £3623 to be carried forward. Tho company s sales ot wool fat Rlieep and cattle and hides mid skins showed an all-round increase. The sales of wool wero from a record clip, and tho company's total was the highest it has yet reached. Although a welcome rise in wool values was experienced in May and June last, the improvement catno too late to affee net earnings to any appreciable extent But, owing to tho increased turnover effected, tho trading year was a satisfactory one. PERPETUAL TRUSTEES DIVIDEND RATE UNALTERED The Perpetual Trustee Company, Limited, of Sydney, reports a net profit of £16,503 for tho year ended Juno 30 compared with £16,954 for the previous year. Tho dividend of 7 per rent an unaltered rate, requires £14,000. A sum of £ISOO is transferred to Investments fluctuation account, and £IOOO is placed to the officers provident fund, leaving £3252 to he carried forward, against £.*249 brought forward. The directors attribute tho slight reduction of net profits to tho operations of the interest and rent reduction Acts. PUKEKOIIE PRODUCE [from our own correspondent] PUKEKOIIE, Montlny Locally-grown onions, for which the market is at present fairly quiet, are quoted from 7b Gd to 8s per cwt., f.o.r. PuUekoho. Local onions ex cool store at Wellington nro quoted at £l6 10s per ton. , ~ Pumpkins sell at 3s a sack; cabbage, Gs 3d u sack; cauliflower, 5s 9d a sack; carrots and parsnips, 3s a bag; seed artichokes, Gs per cwt.; lettuce, 4s 6d a case; leeks, Is 2d a bundle; beetroot, Is 2(1 a dozen bundles; seed potatoes, £7 10s per ton.