DOMINION BREWERIES

New Zealand Herald, Volume LXXII, Issue 22200, 29 August 1935, Page 7

DOMINION BREWERIES

NEW SHARE ISSUE PREFERENCE OF 5 PER CENT EXTRA PARTICIPATING RIGHT An issue of 40,00() preference shares of £1 each is proposed by Dominion Breweries, Limited, which is calling an extraordinary general meeting of shareholders to pass the necessary resolutions. The proposed now shares will carry a cumulative dividend of 5 per cent and will rank equally with ordinary shares for dividend in tho event of profits being available alter payment of a dividend of 5 per cent on ordinary shares. The shares will also bo preferential as to capital and arrears of dividends if any, in the case of liquidation. Tho directors propose to convert -10,000 of tho present unallotted shares into preference shares for the purpose of the issue. Tho companj' lias a nominal capital of £250.000 in 250.000 ordinary shares of £1 each, of which 78,207 shares have been issued and fully paid. Tho new shares will be available to shareholders in tho first instanco. In announcing tho issue, tho directors state that " tho time is opportune to provide new capital to meet the outlay involved in the increasing trade ami turnover of tho company." At the annual meeting last month, Mr. L. J. Stevens, chairman of directors, mentioned the possibility of seeking additional capital in view of improvements and extensions to the company's brewery. Dominion Breweries has been in existence since 1931. no dividends yet having been paid. The ordinary shares are priced at about 18s on tho Stock Exchange. SYDNEY EXCHANGE PASTORAL SHARES FIRM WOOL SALES' INFLUENCE (Received August 2S, 7.45 p.m.) SYDNEY, Aug. 28 On the Sydney Stock Exchange today the slackening in the investment market practically embraced all classes of securities with the exception of pastoral issues, which retained a firm footing in anticipation of the opening of the new season's wool sales on Monday. Buyers in the main are marking time pending developments in the international situation.

This morning's sales included: — Tooth's Brewery, 51s 9d; British Tobacco, 39s 9d; Broken Hill Proprietary, 65s 4£d; Burns Philp, South Sea, 27s 6d; Puniop-Perdriau, 14s sd.

Later sales included: —Bank of Now South Wales (ex dividend), £33; Commercial Bank of Sydney, £lB 2s; ditto, New Zealand delivery, £lB Is; Colonial Sugar, £43; United Insurance. £l2 10s; Associated News, 22s 10jd; ditto, preference, 235; British Tobacco, 39s 9d; Tooth's Brewery, 54s 9d; Carlton Brewery, ols 6d; Australian Iron and Steel (preference), 255; Dunlop-Per-driuu, 14s sd; Goldsbrough-Mort, 335; Winchcombe Carson (ex dividend), 30s 9cl; Morris Hedstrom, 245; Greater .T. D. Williams, 7s lOd; David Jones, 425; Standard Cement (ex dividend), 2ls 9d; Amalgamated Textiles, 10s 4d; J. Stedman. 19s; Mount Morgan, 39s 7Jd; Broken Hill Proprietary, 655; South Broken Hill, 98s 6d; Zinc Corporation, 495; Placer Development, £5 15s. Melbourne sales included:—Commercial Bank of Australia (preference), £9 12s; Australian Glass (preference), 425; Herald and Weekly Times, 625; Mount Lvell, 19s 6d; G. J. Coles, 67s 3d; New Guinea Goldfields, 6s 9d; New Morobe, £l7; Emperor, 26s Loloma, £5 Bs. FOREIGN EXCHANGES FLUCTUATIONS IN LONDON British Wireless RUGBY, Aug. 27 The following rates on foreign exchanges are current, compared with the cabled quotations on August 26 and par:— * Ausr. 27 Auk. 26 Par Montreal, dol. . . 4.98% 4.98% 4.866 New York, dol. . 4.97 ,3 / ie 4.97'%, 4.800 Paris, fr. .. 75% 75%, 124.21 Brussels, bclga . 29.50 29.51 35.00 Cieneva, fr. . . 15.22% 15.23 25.22 Amsterdam, fl. . 7.34 7.34% 12.10 Milan, lire .. 60% 60'/, a 92.46 Berlin, r.m. . . 12.,36% 12*.37 20.43 Stockholm, kr. . 19.39% 19.39% 18.159 Copenhagen, kr. . 23.39 V, 23.39 V, 18.159 Oslo, kr. . . 19.90 V, 19.90 V, 18.159 Vienna, sch. . . 26% 26'/, 34.585 Prague, kr. ... 119' Vi, 119% 164.25 Heisingfors, mark 221% 226% 129.23 Madrid, res. . . 36% 36% 25.221 Lisbon,, escu. .. 110% 110% 110 Athens, dr. .. 519* 518* 375.00 Bucharest, lei. . 627 * 62G* 813.6 KiodeJaneiro.mil. 4%d* 4%d* 5.899 d Buenos Aires, dol. 35d* 35d* 47.619 d Montevideo, dol. 39% d* 39% d* 51 d Bombay, rupee . 18% d 18% d 18d Shanghai, dol. . 17% d 17% d Hongkong, dol. . 23"/',„d 24d Yokohamn, yen . 14%, d M%„d 21.58 d Batavia, fl. .. 7.32% 7.31% 12.10 Belgrade, din. .. 217 217 276.31 •Sellers. NEW ZEALAND QUOTATIONS Tho Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday, on a New Zealand currency basis, subject to alteration without notico:— Selling: United States Canada T.'l. .. 3.98% 3.99% On demand . . 3.99% 4.00% BuyingOn demand .. 4.03% 4.04% Following are tho 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: — -r », n* r, „ T.T. On demand To £ Currency Selling Buying Helling U.S.A., dol. .. 3.99% 4.0} 3 99% Canada, dol. .. 3.99% 4.04% 4'00% trance, fr. .. 59.(19 .29 59 74 Noumea, fr. .. 59.94 62 34 59 99 Papeete, fr. . . 58.94 62.3-1 59 99 Belgium, belga .. 23.388 Germany, r.m. .. 9.724 9 7'>9 Italy, Li 1 r . . . . 48.14 Switzerland, fr. .. 12.051 12.526 12.061 Holland, fl, .. 5.782 6.082 5.786 Java fl. . . 5.770 6.045 5'.771 Sweden, kr, .. 15.459 15.829 15.469 >or way, kr. .. 15.867 16.237 15.877 Denmark, kr. . . 17.878 18,218 17 988 Austria, sell. .. 20.57 ~ 20,59 Czecho-Slovnkia, cr. 95.65 x.z. pence to Japan, yen .. 17 a %, Shanghai, dol, . . 22"/,, 21'%, 22% India, rupee .. 22 a %, 22%, 22"/,., Ceylon, rupee .. 22 3 %, 22%, 22 J %, Honcrkong, dol. . . 30% 29%, 30% n Singapore, dol. . . 35%,, 34%* 35%, 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 Pnr v . " rl * d Australia, pound .. 19 10.81 20 0.00 London, pound . . 24 10.65 20 0.00 Fiji, pound .. .. 22 5.66 20 0.00 Acvv Wk dollar .. 4 11.95 4 1.31 Montreal, dollar .. 4 11,90 4 131 Paris, franc .. .. 0 3.97 0 LOf Berlin, reichninrk .. 2 0.15 0 11.74 Copenhagen, krono .. 1 1.33 1 122 Yokohama, yen .. .. 1 5.64 2 o^sß CUSTOMS EXCHANGE RATES Hates of exchange ruling at the announced dates of departure of vessels are shown in tho following table. They are subject to confirmation by tho Customs Department when the exact time of departure is learned on arrival of the vessel in New Zealand. Finally declared rates are marked*:— Anglo Canadian, America, dollars 4.95%, Aarbada, India, rupee .. .. 18% d Melbourne Maru, Japan, yen .. 14% 3 d Canadian Planter, Canada, dollars 4.96% oneaf Holme, America, dollars .. 4.96%