PARKER-LAMB TIMBER

New Zealand Herald, Volume LXXII, Issue 22117, 24 May 1935, Page 7

PARKER-LAMB TIMBER

FURTHER HEAVY LOSS CAPITAL ADJUSTMENT PLANS A loss of £11,221 is shown in the accounts of the Parker-Lamb Timber Company, Limited, for the year ended March 31. This compares with losses of £7651 in 1933-34 and £9559 in 1932-33. The debit in the profit and loss account stands at £35,680. The directors' report refers to the extremely unfavourable nature of the» year's trading. With the completion of cutting contracts, resultant losses had all been finalised. Further deductions on account of assets realised and, in addition, heavy depreciation of the remaining assets made the year's work appear still more unfavourable. Very little timber milling had been done. The position of the profit and loss appropriation account called for a capital adjustment, and tentative proposals regarding this would be placed before shareholders at the annual meeting. The question of disposal of freehold and other assets for which offers had been received also would come under review. The retiring directors, Messrs. F. M. Nairn and John E. Guthrie, oifer themselves for re-election. The principal movement in the balance-sheet is a reduction of £8557 to £3821 in stocks. Fixed assets are valued at £29,333, compared with £34,150 last year. The bank overdraft stands at £17,143, against £19,831, and creditors and depositors are owed £9294, against £12,316.

AUSTRALIAN EXCHANGES YESTERDAY'S BUSINESS (Received May 23, 8.5 p.m.) SYDNEY, May 23 On the Sydney Stock Exchange today there was heavy trading, with some evidence of profit-taking, but values generally were firm and steady. This morning's sales included: Commonwealth 4 per cent bonds, 19.38, £lO3 12s 6d. Tooth's Brewery, 53s 3d; Anthony Hordern, 17s British Tobacco, 39s 3d; Broken Hill Proprietary, 58s;_ Colonial Sugar, £4l 10s; Dunlop-Perdriau, 16s lsd; Goldsbrough Mort, 30s 4sd. Later sales included: Bank of New South Wales, £3l 17s 6d; Commercial Bank of Sydney, £l7 17s; Union Bank, £8 17s; Bank of Australasia, £ll 4s: Colonial Sugar, £4l 10s; Australian Provincial Assurance, 21s 6d; Associated News, 22s 9d; British Tobacco, 395; Tooth's Brewery, -Ms; Australian Glass, 67s 6d; Dunlop-Perdriau, 16s; Goldsbrough Mort, 30s; WinchcombeCarson, 28s 6d; Wiloox-Mofflin, 10s lOd; Henry Jones, 36s 6d; Electrolytic. Zinc, 26s 10£ d; Farmers. 265; David Jones. 40s 6d: General Industries, 17s 9d; Mount Morgan, 36s l§d; Mount Lyell, New Zealand delivery. 21s 3d; Broken Hill Proprietary-, 57s 9d; South Broken Hill, 89s 3d;. Bulolo Gold, £9 Ss; Placer Development, £27 14s; Rawang Tin, 7s 3d; Larut, 10s 3d. Melbourne sales included: Commercial Bank of Australia, los 6d: ditto (preference). £9 14s: National Bank (£5 paid), £6 6st British Tobacco, 395; Mount Lyell, 21s 6d.

FOREIGN EXCHANGES DOLLAR AND THE FRANC British Wireless RUGBY. May 22 The following rates on foreign exchanges are current, compared with the cabled quotations on May J2l and par:—

May 22 May 21 Par Montreal, dol. .. 4.91% 4.91 4.866 New York. dol. .. 4.90% 4.91*4 4.866 p,-;,, t r r,ii/ Cili,' -iqa ni Brussels,* b'elga !! 20'05 29.06 35.00 Geneva, fr. .. 15.20 15.20 25.23 Amsterdam, fl. .. 7.26% 7.26% 12.10 Milan, lire .. 59% 59 3 % a 92.46 Berlin, r.m. .. 12.21 12.2 L 20.43 Stockholm, kr. .. 19.39%. 19.33% 18.159 Copenhagen, kr... 22.39% 22.89% 18.159 Oslo, kr 19-90% 19.90% 18.159 Vienna, «ch. .. 26% 26% 34.585 Praer.e, kr. .. 117% 118% 164.25 Helsingfors, mark 226% 226% 129.23 Madrid, pes. .. 35 t %« 36'/ts 25.221 Lisbon, escu. .. 110 110 110 Athena, dr. ~ 517* 517* 375.00 Bucharest, lei. - . 483 453 813.6 Rio c!e Janeiro, mil. 4 ! /id* <%d? 5.899 d Rnerios Aires, dol. 35d* 35d* 47.619 d Montevideo, d 01... 39% d* 39% d* . Bid Bombay, rupee .. 18% d lS% 3 d 18d Shanghai, dol. ... 20% d 20d Hongkong, dot ~. 2f'/ t ,d 28',-Sd Yokohama, yen .. 14/sd 14% s d 24.5®d Batavia. fl. .. 7.24% 7.26% 12.10 Belgrade, din. .. 21ft 217 276.31 "Sellers. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South .Wales) quoted the following dollar-sterling rates yesterday. subject to alteration without notice: — ■/ United States Canada Conversion dollar biljs received for collection and 'sale dollar drafts and telegraphic transfers .. .. 4.90 4.90 Purchase dollar bills .. 4.93 4.93 On a New Zealand currency basis these rates are equivalent to: — Sellincr: United States Canada T.T. . . .. 3.93% 3.93% On demand .. 3.93% 3.93% Buying: On demand .. 3.99% 3.95% Following are the latest rates for purchases and sales of foreign exchange quoted by the Bank of New South Wales, Auckland. They are subject to alteration without notice: — T.T. On Demand Toil N.Z. Currency Selling Buying Selling V.BJi.. dol. .. 3.93% 3.99 3.94% Canada, dol. .. 3.93%' 3.98% 3.93% France, fr. ~ 59.28 60.88 59.33 Noumea, fr, .. 58.53 61.93 58.58 Papeete, frt . . 58.53 61.93 58.58 Belgium, belga .. 23.030 Germany, r.m. .. 9.602 Italy, lire V. .. 47.26 Switzerland, fr. .. 12.033' 12 508 12.043 Holland, fl. .. 5.727 6.027 5.731 Java, fl 5.706 5.981 5.710 Sweden, kr. .. -15.459 15.529 15.469 Norway, kr, .. 15.870 16.240 15.580 Denmark, kr. .. 17.878 18.248 17.888 Austria, sch. .. 20.67 Czecho-S'iovakia, cr. 94.29 N.Z. pence to Japan, yen .. l 7 '%* ~ Shanghai, dol. .. 25/ s 24/,» ~_/i» India rupee .. 22% 22%, 22 ftj, Ceylon, ri.pee . . 22'%, 22%, 22»/„ Hongkong, do!. . . 31'''An 36/ i Singapore, dol. . . 35V4 . 34%» 35/ i« The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows: Present Price rar^ Australia, pound .. 19 10 81 20 0.00 London, pound .. 24 10, Go 20 0.00 New York, dollar .. 5 0.04 4 1.31 Montreal, dollar .. 5 0.92 4 1.31 Paris, franc .. .. 0 4.01 0 1.98 Berlin, reichmark .. 20.4 a 0 11.74 Copenhagen, krone -. I 133 1 1.2. Yokohama, yen ~ • • 1 o.Bf l o.ob CUSTOMS EXCHANGE RATES Hates of exchange ruling at the announced dates of departure of vessels named are shown in the following table. Thev are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand, fcinallv declared rates are marked*: — Cape York, America, dollars .. 4,81 V. Canadian Scottish, Canada, dollars 4.81V3 Aldington Court, America, dollars 4.W., Golden Cloud, America, dollars .. 4.85% Melbourne Maru, Japan, yen .. , 14% 5 d PROPERTY AUCTIONS Samuel Vaile and Sons, Limited, will offer at auction at its rooms, 83 Queen Street, at 2 p.m. to-day, six-roomed house at 50 Walters Road, Kingaland. T. Mandeno .Jackson will offer at auction at his rooms, 3 Swanson Street, at, 11 a.m. to-day, three-roomed house and i-acre section in Great North .Road, close to the Henderson railway station.