BRITISH TRADE

New Zealand Herald, Volume LXXII, Issue 22262, 9 November 1935, Page 9

BRITISH TRADE

THE DOMINION MARKET

INROADS BY AUSTRALIA COMMENT BY BUSINESSMAN Australian inroads into British trade with New Zealand in iron niic! steel Roods and fencing wire have reached a dangerous point, according to Mr Michael Johnson, a director of Richard Johnson and Nephew, Limited, of Manchester, who is on a business visit to the Dominion. In the last few .years Australian manufacturers had succeeded in wresting from Britain a large share of the Dominion trade, due to their being placed in a favourable position, owing to the exchange rate. Mr. Johnson said all that the British trade asked was that it should be placed in a position where it could compete on equal terms with Australia. Unless there was an adjustment in the tariff to the extent of the exchange benefit received by Australia, the Commonwealth manufacturer w6uld continue to make inroads in the New Zealand market. Australia was now taking trade away froirf Netv Zealand's best customer, amj practically its only for dairy and meat products! ' • Probably, the effect in diversion of trade was not foreseen when the exchange rate was raised, Mr. Johnson said. The cdmplaint of the British manufacturer was qgainst this aspect of the exchange rather than against the rate itself. New Zealand had more sentiment in its favour in England than probably any other Dominion and this sentiment had helped the Dominion greatly in marketing its products. "The British Government is going to give the British manufacturer every assistance in selling his goods overseas," said Mr. Johnson. "It is to be hoped that New Zealand and other Dominions owill reciprocate. Foreign countries, particularly Argentina, are only, too anxious to "make trading agreements,with Britain.'!'

SYDNEY EXCHANGE * YESTERDAY'S BUSINESS COLONIAL SUGAR EASIER (Heceived November 8, 8.45 p.m.) , '< SYDNEY, Nov. 8 General industrial shares met with a strong market on, the Sydney Stock Exchange to-day, but prices underwent little" change. Colonial Sugar shares eased owing to the chairman's remarks on Wednesday as to the specific purpose of the bonus dividend. « This morning's sales included:-—Com-monwealth bonds: 1938, £lO3. Bank oi; New South' Wales, £33 10s; Toohey's Brewery, 31$; Tooth's Brewery, 59s 6d; Anthony Hordetn (preference), 23s 6d; Dunlop-l'crdriau,, 16si 10Jd; Howard Smith, 19s. * ■ %'■ • Later sales, included:—Bank of New South Wales, £33 10s; Colonial Sugar, £4O 10s; Mercantile Mutual Insurance, 28s 3d; Associated News, 24s 7Jd; ditto (preference), 24s 3d; Automatic Totalisators, 20s 4Jd; Australian' Gas, B sllares, £7 16s; British Tobacco, 40s 3d; Tooth's Brewery, 59s 3d; Toohey's Brewery, 31s; Australian Glass (ox dividend), 86s: Dimlop-Perdrian, 16s lOJd; MorrtiiHedstrom, 24s 6d; Henry .Jones, 37s 7id;- David Jones, 40s 6d; Anthony Hordern, 19s 4d; General Industries. 20s ljd; Amalgamated Textiles, lis 6d; Mangrovite, 15s 3d; Mauri Brothers, 50s 6d; Cumberland Paper, 33s 6d; Peters, 42s 6d; Permanent Trustee, 17s 3d; Garratts (preference), 2os; J. Fielding, 765; Clifford Love, 525; Mount Morgan, 87s 7Jd; Mount Lyell, 21s 9d; Broken Hill Proprietary, 58s 9d; South Broken Hill, £5 4s fid; Zinc Corporation, 71s; Rawang, 9s; Lartit/12s 6d;. Koroere Gold, 16s 3d; Empefor, 225; Tavua, 4s 10d - 5 ' Melbourne sales included:—Commercial Bank of Australia, 16s 9d; Australian Iron and Steel (preference)} 25s 3d; Herald and Weekly Times, 645; Electrolytic Zinc, 35s 9d; G. J. Coles, 65s 9d ! ; Mount Lyell, 21s 7}d; Mount Morgan, 37s 10J«; Emperor, 22s 3d; Koroere, 16s; Loloma, 39s 6d; Enterprise; 72s 6d.

At the half-yearly meeting of the Colonial Sugar Company on Wednesday, tho chairman, Mr. E. It. Knox, said it had been- rumoured • that tho company intended to make a permanent feature of, tho special bonus dividend. This was intended- tp facilitate payment by individual shareholders of any t eitra* taxation they might be called upon to bear by reason of the distribution of new shares, and shareholders Would be wrong in assuming anything to the contrary, he said. FARMERS' TRADING CO, * ? PREFERENCE DIVIDENDS The interim dividends on the preference capital of the Farmers' Trading Company, Limited, will be paid on November 30. On the A (and B preference shares the rate is 7 per cent per annum, less - the statutory reduction of 20 per cent, making 5 3-5 por cent, while the return on the C preference shares, which' v were issued recently, is 5 per cent per annum. . SfOCK EXCHANGE MEETING The annual meeting of the Stock Exchange Association of New Zealand was held in Wellington- this week, the retiring president, Mr. E. Bucholz. presiding; Mr, H. Kitson, chairman of the Christchurch Stock Exchange, was elected president, and Mr. Harman Reeves, - chairman of the Dunedin Stock Exchange, vice-president. Reference was made to the good work accomplished during the last two difficult years by the retiring president, Mr. E. '.Bucholz. .CALL AND DIVIDEND LIST ' t - V »• . , Dividends— Due ■ Talistna'n-Dnbbo—Gd a share .. To-day N.Z. L'aper Mills—int., S p.o. .. Nov. 11 Mosgiel \yoollen—final, .4 p. 0., bonns (S p.o Nov. 12 • Abraham anrf Williams—final pref.,, 5 p.o. p.a Nov. 12 Bycroft—int., 5 p.o. .. .. Nov. 18 Martha Miniirg—int., 6d a share Nov. 15 Burns;Philp—int., Is a share-.. Nov. 16^ Maori 'GTuI p'.o. .. .'. Nov. Ifl -Tattersfleld—p.o. .. .. Nov. Ifl Nat. JnsUraitce—fintil," 5d a share Nov. 18 , Macky, Logan. Caldwell—int., 6 . .. , .. Nov. 2" •« Bruce Woollen—pref.. 5 3-5 p.c.; ord.. ;8 p.«j.-' .. .. Nov. 20 • - Claude Neon < p.c. Nov. 21 Wefttport Coal—finaK 6d a share Nov. 25 Perpett'ial TrUsteel— int.. Is a ,. .. Nov. 25 Broken Hill PtJ;. -1» 8d a share Nov. 27 Nat. int.. 5 p.o. p.a Nov 27 Dalgoty-r-final, 2J* p.o: .. .. Nov. 2S E.. 8 and A. Bank—fittal. 2| p.o Nov, 28 Wilsons CemehWint,. 9d a share Nov farmers', Trading—int.. A and B , pref,, 5 8-8 i!>.o. ! p.a.; C pref., 6 p.Oi':', . . .. .. Nov. 80 0. L. Innes—pref, and ord., B p. 0.• also pref.' arrears Deo I Henry ,Tones-*-nnal, Is 8d a share Deo 2 Bank N. 7., Is a share; P mort.i 8} P.O. ~. .. Deo 1 North Broken Hill—2s Cd a ihare and bonus. Is a share Deo 12 Mt. Lyell—6d a share ... Deo. 16 Broken Hill South—l* Gd i. share. and bonus. Is a share . Deo. 10 Bulolo—"int., 1 dollar 40 cents , ' (Canadian' h share Deo 20 t'lacer—int., 50 oenle (Cana. dian) a share .. Dec. 20 Morris Hedstrom—int., ord., 2} p.o. .. .V f .. .. Deo. 81 Kauri Timber—s P.O. ... .. Deo.