WAIHI SHARES

New Zealand Herald, Volume LXXII, Issue 22241, 16 October 1935, Page 9

WAIHI SHARES

RECENT RISE IN VALUE MARTHAS AND INVESTMENTS ISSUE OF NEW SCRIP Although it is not apparent owing to the splitting of t,ho shares,' Waihi mining scrip is worth considerably more now than two weeks ngo. For every Waihi share held, shareholders will receive one Martha share, one Waihi Investments share and 3s in cash (3s 9d in New Zealand currency). Marthas have sold in the last few days at 21s 6d and Waihi Investments were taken yesterday at los. With tho cash payment added, tho value of a Waihi share is now 40s 3d. When they were last quoted two weeks pgo sales were made at 31s 6d. The rise in Marthas is duo to favourable developments at tho mino and to the better crushing returns, while Waihi Investments have advanced owing to tho strong rise in tin. Tho earlier weakness in Waihis was due to some extent to tho delay in announcing tho liquidation. Shareholders have not yet received tho new scrip, but it will bo ready possibly next week. Tho cash payment will be piade probably next month. SMITH AND SMITH, LTD. DIVIDEND OF 5 PER CENT FIRST FOR FIVE YEARS The accounts of Smith and Smith, Limited, Wellington, for the year ended Juno 30 show a net profit of £16,797, compared with £13,263 earned in the previous year and a loss of £377 in 1933. It is proposed to pay a dividend of 5 per cent on ordinary shares, the first since 1930. During the year arrears of preference dividend were paid and allowance has beon made in the accounts for the current year's payment. The company has a paid.capital of £139,500 and reserves total £65,770. BANK INTEREST RATES DISCUSSION IN AUSTRALIA NO CHANGE PROPOSED Following informal discussions, tho trading banks of Victoria have decided for the present not to change interest rates on deposits or overdrafts. It is considered that the situation is becoming more nearly normal than it was a few years ago when deposits largely exceeded advances and that there is as yet no urgent necessity to interfere with the natural course of events. The demand for bank accommodation is steadily increasing, but money is not being made freely available for speculative enterprises. It is asserted, however, that all the reasonable requirements of credit of worthy clients aro being supplied at present without difficulty. The position is being carefully • watched, and action will bo taken only when tho principles of prudent banking show that the necessity exists for an adjustment of the rates; TRADE OF BRITAIN RETURNS FOR SEPTEMBER ALL-ROUND INCREASES LOXDOX, Oct. 14 The Board of Trado returns for September show that imports into Britain were valued at £60,830,000, an increase of £3,091,502 compared with Sep- ! tember, 1934. The value of exports was £34,098,000, an increase of £140,752, and of re-exports, £3,810,000, an increase of £560,164. The principal increases were:—lmports: Dairy produce, £1,322,000; fresh fruit and vegetables, £937,000; tobacco, £1,036,000; wool, £473,000; non-ferrous metals and manufactures thereof £837,000; oils, fats and resins, £515,000. Exports: Machinery, £420,000; miscellaneous manufactured articles, £261,000. The chief decreases were: —Imports: Grain and flour, £1,217,000; other food, £954,000; wood and timber, £523,000; raw cotton, £453,000; rubber, £473,000. Exports: Coal, £419,000; iron and steel and manufactures thereof, £221,000; cotton varns and manufactures thereof, £327,000. Following is a comparison of the returns for September of the last three years:— Sept. Imports Exports Re-exports 1033 .. £57.803.024 £32,226,287 £3,403,774 1934 .. 57,738,498 33,957,248 3,249.836 1935 .. G0,830,000 34,098,000 3.810,000 The apparent adverse balance in September, 1933, was £22,173,863. It decreased in 1934 to £20,531,414. Last month tho excess of imports over exports was £22,922,000. Corresponding returns for periods of nine months are: — 9 Mths. Imports Exports Re-exports 1933 .. £487,854,427 £268,389,802 £37,1G2,594 1934 .. 536,780,772 289,047,847 39,674,186 1935 .. 540,480,319 311,864,061 40,583,983 The apparent adverse balanco for the first nine months, of this year is £188,031,675, compared wifh £208,058,739 in 1934 and £182,301,9/1 in 1933. LONDON MARKETS TALLOW, HEMP AND EGGS Tho Department of Agriculture has received tho following cablegram, dated October 12, from the High Commissioner for New Zealand, London:— Tallow. —There was a good demand at auction; 426 casks were offered, of which 241 were sold at higher prices. Present spot quotations are:—Mutton, fine, 34s per cwt.; fair to good, 29s fid; dark to dull, 27s 6d to 28s 6d; beef, sweet and/or mixed, 31s to 355; fair to good, 28s 6d to 30s 6d; dnrk to dull, 22s 6d to 27s 6d; mixed, fair to good, 28s 6d to 29s 9d; dark to dull, 22s 6d to 27s 6d; gut, etc., 25s fid to 27h. Hemp.—Manila: Tho market is not quite so active; prices aro about stoady. K grade for October-December and December-February shipments is quoted sellers at £27 15s. Sisal: Spot stocks nre scarce. Afloat sold up to £27 15s, January-March shipment sellers, £27 ss. New Zealand: The market is unchanged. November-January shipment fair grade offered at £2l 10s, but jao business reported. Eggs.—The market is firmer. Supplies are smaller and there is good demand. English, national pack, 15s 6d to 18s 6d; ordinary pack, 16s to 17s 3d; Danish, 12s to 13s 9d; Australian, 12i to 161b., per long hundred, lis to 13s 6d. Apples.—Arrivals during the first week of the past fortnight were very heavy, causing lower prices, but there has boen a slight improvement since. Californian Newtown, 9s to 9s 9d; Gravenstein, 5s fid to 7s; Jonathan, 8s 6d to 9s; British Columbia, Cox's Orangp Pippins, 10s to 13s. Pears. —Californian Bartlett, lis to 13s 3d.