HOWARD SMITH, LTD.

New Zealand Herald, Volume LXXI, Issue 21755, 21 March 1934, Page 7

HOWARD SMITH, LTD.

PROFIT MORE THAN DOUBLED RESUMPTION OF DIVIDEND Net profits of Howard Smith, Limited, Sydney, for the year ended December 31, show an increase of £24,835 to £47,165. After a iapse of t)"-ee years payment of an ordinary dividend has been lesumed, li per cent being distributed. The ordinary dividend will absorb £30,000, and preference dividend of 6 per cent takes a further £15,000. The carry forward is £17,328, compared with £15,160 brought into the accounts.

The company is principally nn .investing company, with interests m shipping, coalmining, sugar and metal businesses. The report states that no dividends were received from the company's coal interests or from its investments in Australian Iron and Steel, Limited. Following is a summary of the company's results for the past three years:— 1031 1032 1933 Brought forward . £72.573 £72,745 £15,160 Net profit . . 15,172 22,333 47,168 £87,755 £95,078 £62,328 To reserve s. - Reiroapcctive inc. tnx .. .« Dividends— Pref, 6 p.c. .. 15,000 15.000 15,000 Ord. .. .» lAmount . Carried forward £72,745 £15,1G0 £17,32S The balance-sheet shows capital at £2.000,000 ordinary and £250,000 preference, with a reserve fund of £291J502, these figures being unchanged. Tho shares in other companies are valued at £3,120,172, against £3,094,476.

HUDDART, PARKER, LTD.

STEAMER EARNINGS IMPROVE

At the annual meeting of HuddartParker, Limited, held in Melbourne last week, Mr. J. L. Webb, chairman of directors, said steamer earnings had improved, but depreciation for the company's two large vessels was a heavy item. There had been an increase in dividends from concerns in which the company held interests, but the subsidiary collieries wero still unprofitable.

"The position regarding competition by the subsidised Matson Lino in the Australian-New Zealand trade, is unchanged," said Mr. Webb. "Jt ia difficult to find a means of_ countering foreign subsidies, but there can be no valid objection to the British Empire excluding from its inter-Dominion trade the vessels of any country which prevent British ships from trading between its ports."

FOREIGN EXCHANGES

STERLING RATHER STRONGER

(Received March 20, 5.5 p.m.)

British Wireless BUGBY. March 19 The following rates on foreign exchanges are current, compared with the cabled quotations on March 17 and par:—■

Mar. 19 Mar. 17 Par. Montreal, dol. .. 5.10% 5.09'* 4.806 New York, dol. , ,5.09 5.08% 4.800 Paris, fr. .. 77% 77V,„ 124.21. Brussels, belga .. 21.87 21.64 35.00 Geneva, fr. .. 15.79 15.77 25.22 Amsterdam, fl. .. 7.5S 7.56 12.10 Milan, lire .. 59% 59 13-32 92.46 Berlin, r.m. .. 12.92% 12.83 20.43 Stockholm, kr. .. 19.37% 39.39/ a 16.159 Copenhagen, kr. . 22.39% 22.40 18.159 Oslo, kr.» .. 19.90 39.90 38.359 Vienna, sch. .. Prague, kr. .. 122% 122% 104.25 Helsingfors, mark 220% 220% 329.23 Madrid, pes. .. 37 13-32 37 11-32 25.221 Lisbon, escu. .. 309% 109% 110 Athens, dr. .. 530* 535* 375.00 Bucharest, lei. .. 510 510 813.0 BiodeJaneiro,rail. 4%d* 4%d* 5.609 d Buenos Aires, dol. 36% d* 30% d 47.019 d Montevideo, dol. 99% d* 38% d* sld Bombay, rupee .. IBVUd 18 3-32 d 18d Shanghai. dol. .. 16% d 1 r•%td Hongkong, dol. . 36% d 16% d Yokohama, yen . 34% 8 d 34%,jd 24.5 Rd Batavia, fl. .. 7.53 7.54 32.10 Belgrade, din. .. 225 'Sellers. NEW ZEALAND MONEY ABROAD Current dollar exchanges, as quoted by the New Zealand banks, are as under: —■ Dollars to £1 United States Canada Buying . .. 5-39 5.20 Selling . . . 4.99 5.00 The cost in New Zealand currency of the pound sterling and of the principal foreign units, on the latest quotations, is as follows: Present Price Par s d sd Australia, pound a »20 0.00 20 0.00 London, pound .. . 24 31J58 20 0.00 New Y'ork, dollar .. 5 0.07 4 1.31 Montreal, dollar . ..4 11.94 4 3.33 Paris, franc *. . >. 0 3.87 0 1.93 Berlin, mark .. . 1 11.19 0 11.74 Copenhagen, krone .. 1 3.33 1 3.22 Yokohama, yen . . .. 1 5.58 2 0.5 R

Those valuations represent the current rates at which the banks sell drafts payable on demand.

CUSTOMS EXCHANGE RATES Pates of exchange ruling at the announced dates of departure of the vessels named are shown in the following table. They arc subject to 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*: Niagara, Artierica, dollars . . . *5.10 Niagara, Canada, dollars ... "5.10 City of Canberra, America, dollars 5.083 Golden Coast, America, dollars . . 5.08* Svdney Mnru, Japan, yen . .. 14 3-16 d Wairuna, America, dollars . . . . 5.0#>3 Canadian Conqueror, Canada, dollars 5.10 Mariposa, America, dollars . . . 5.07J BRITISH WAR LOAN British Wireless RUGBY. March 19 War loan, 3\ per cent, is quoted to-day at £lO3 l]s 3d. compared with £lo3* 10s on March 16. CALL AND DIVIDEND LIST Dividends— Due Bank A'nsia.—final. 4s (sterling) a share, less British income Ins .. ... •• Mar. 2o Aiiial. Wireless (A'aaia.), Ltd.— interim. 4 ,i ar " oTimiiiu Gns—final. 2* p.c. . . Mar. 2/ North Broken Hill. Ltd.—ls Cd a shore ... . . . - •• Mar. 27 Beath and Co. —int. pief. 2} p.c., ord. 4 p.c Mar. 28 King Solomon—2s p.c. . . . < 28 Talisman Dubbo—Gd a nhar© .« Mar. -o Britiph Tobacco —quarterly, ord., 11 p.c. ... ... .. . • Mar. 29 Dunlop Perdriau —int. pref., . 5 p.c Mar. 29 Barnet, Glass—int. pref., 4 p.c. Mar. 29 Jv.Z. Crown Mines—3d. (sterling) a s'hare, less British income . Mar. 29 N.Z. Guar. Corp.—2d a share . »- Mar. Howar l Smith—ord., li p.c. for jear; pref., quarterly. 6 p.c. p.a. . . . . . ~ Apl. 7 N.Z. Drug, final 4 p.c Apl. 8 Mt. Morgan—quarterly, Od a 5s share Apl. 10 Okarito —sixth, Gd a Bhare . . Apl. 12 Amalgamated Zinc—half-yearly, 2J p.c. . < • Apl, 13 Bawiing Tin.—3d (sterling) a share Apl. 2G

Calls— Glenroy Gold—3d a share, making 9d paid . . .. To-day Golconda—ld a share .. . . Mar. 27 Reserve Bank N.Z.—£2 a share Apl. 1