VALUES ON STOCK EXCHANGE

New Zealand Herald, Volume LXXIII, Issue 22390, 9 April 1936, Page 7

VALUES ON STOCK EXCHANGE

AUCKLAND RATES YESTERDAY FORMER LEVELS COMPARED

'Based on interim dividend at rate per annum. "Subject to Income Tax. The return on 3J per cent Government loans does not include redemption and covers only the period for which the loans are tax free.

BUTTER AGAIN HIGHER NEW ZEALAND UP TO 89/MARKET NOW QUIETER New Zealand butter is quoted on the London market at 88s to 89s per cwt., a rise of Is since the end of last week. However, the demand is now quieter, probably due to traders having filled their requirements for the Easter holidays. Forward business also has slackened. Sales were made early in the week at llfd per lb. f.0.b., equal to 95s 6d per cwt. London, for April-May ship-* ment. Cheese is selling in London at 53s 6d to 54s per cwt., also an advance of Is. Merchants have received the following cablegrams, dated April 7, from their London principals:— New Zealand Producers' Co-operative Marketing Association, Limited.—Butter: New Zealand, 89s; Danish, 118s. Cheese: White and coloured, 53s 6d. Both markets are quiet. A. H. Turnbull and Company, Limited, from W. Weddel and Company, Limited. —Butter: Danish, 107s; New Zealand, salted, 88s; Australian, 88s. Cheese: White, 53s 6d; coloured, 545. Both markets are quiet. Joseph Nathan and Company Limited, from Trengrouse and Nathan, Limited. —Butter: 88s. The market is quiet IMPERIAL CHEMICALS YEAR'S DIVIDEND RATES CONVERTED SHARES PAYMENT

DAIRY FARM FINANCE WAIKATO ENTERPRISE NEW MORTGAGE COMPANY [from our own correspondent] HAMILTON, Wednesday With the object of financing suppliers of the New Zealand Co-operative Dairy Company, the New Zealand Dairy Farm Mortgage Company, Limited, with a share capital of £IOO,OOO, has been formed at Hamilton. Of the capital, £75,000 has been contributed by the New Zealand Co-operative Dairy Company, Limited, and £25,000 by the Challenge Phosphate Company, Limited. Mr. C. J. Parlane, general manager of the New Zealand Co-operative Dairy Company, Limited, said the enterprise was the outcome of frequent requests to the company to provide facilities for suppliers to obtain money on first mortgage. The £75,000 contributed by his company came from the capital of the company, and would in no way affect the pay-out. The capital would be lent on first mortgage and would be fully safeguarded. To enable the new company to obtain adequate finance, an amendment was made to the Trustee Act during the last session of Parliament to provide for the issue by the New Zealand Dairy Company of trustee debentures. Mr. Parlane said the enactment was a tribute to the financial stability of the New Zealand Dairy Company, and the instance wns, he believed, the only one in New Zealand of the debentures of a private enterprise being recognised as a trustee security.

The New Zealand attorney for Imperial Chemical Industries, Limited, Sir Harold Beauchamp, has received cabled advice from London that the board of directors has recommended on £43,759,759 ordinary stock a final dividend of 5£ per cent, making 8 per cent for the year, unchaneed, and on the further £5,434,141 of ordinary stock, resulting from tho conversion and consolidation of 21,736,564 deferred shares, a dividend of 4 per cent. Payment will be made on Juno 1. A further dividend of 4 per cent will be paid on the 5,434,141 ordinary shares contingent upon the final confirmation of the reduction of capital. If paid, this distribution will make a full 8 per cent on these shares for the year ended December 31, 1935. For 1934 the dividend payment on the deferred shares was 2 per cent. These shares did not rank for dividend until the ordinary shares had received 7 per cent .

Four directors are in control of tho new company, two representing the New Zealand Dairy Company, one the Challenge Phosphate Company, and one the debenture-holders. The chairman will not have a casting vote. The company has power to advance up to two-thirds of tho value, and tho Trustee Act provides that the new company should require a contribution of 2 per cent of the loan obtained to be placed to the credit of a special reserve account.

The company is expected to commence operations within the next month.

MOSGIEL WOOLLEN CO. USUAL INTERIM DIVIDEND The directors of the Mospiel Woollen Manufacturing Company, Limited, have declared an interim dividend of 4 per cent, unchanged. It is payable on May 13. McKENDRICK BROTHERS PREFERENCE DIVIDEND The directors of McKendrick Brothers, Limited, bottle and sack merchants, have advised the Auckland Stock Exchange of the payment of a half-venrlv dividend on preference shares at' the rate of 6J per cent per annum. Payment will be made forthwith. BANK OF ADELAIDE INTERIM DIVIDEND. UNCHANGED The Bank of Adelaide will pay an interim dividend at the unchanged rate of 4 per cent per annum. Payment will be made on May 6. DOMINION PICTURES USUAL INTERIM DIVIDENDS The directors of Dominion Pictures, Limited, Auckland, have declared unchanged interim dividends of 3 per cent on preference shares and 2J per cent on ordinary shares respectively. Payment will be made on April 30.

BUTTER-FAT SHARES NEW ZEALAND COMPANY EASING OF THE STANDARD [from our own correspondent] 1 HAMILTON. Wednesday The directors of the New Zealand Co-operative Dairy Company, Limited, have decided to extend the basis of shareholding from 701b. to 1001b. of butter-fat a £1 share. The new basis will operate retrospectively as from June 1, 1935. It is stated that the decision will not in any way affect the rate of payment for the shares, the annual credit for which will remain at the present figure of id per lb. butter-fat. The system of allotment of shares on a fully-paid basis, and the payment in cash of the annual shareholders' bonus on butterfat covered by fully-paid shares will also be unaltered. PRICES OF METALS TIN EASIER AGAIN (Received April 8, 7.35 p.m.) LONDON, April 7 Following are to-day's quotations on the London metal market compared with those of April 6:— April 7 April 6 Per ton Per ton £. s d £ s d Copper, stan., spot . . 36 13 1} 36 11 10k Copper, stan., 3 mos. 36 19 4} 36 16 10J Copper, electrolytic . . 40 5 0 40 12 6 to to 41 5 0 41 0 0 Copper, elec., wire bars 41 5 0 41 0 0 Lead, soft, spot . • 16 2 6 16 3 9 Lead, soft, forward . . 16 8 9 16 8 9 Spelter, spot . . 15 7 6 15 7 6 Spelter, forward .. 15 12 6 15 12 6 Tin, stan., spot . . 212 12 6 214 12 6 Tin, stan., 8 mos, .. 205 2 6 206 7 6

COMPANIES Amount l'aid-up IHBH Last annual Dividend * Dividend Payable Return on "Investment at Anprox. Mnrket. Price BANKS— Com. of Aus.. . . E.S. and A .... Nat of N Z £ 10s 8 91 £ s d £ s d £sd £'sd 0 19 11 1 0 0 1 0 2 0 15 5 _ 6 6 0 6 4 6 4 17 0 3 14 6 3 15 6 3 15 0 3 6 3 6 5-6 6 4 Feb.-Aug. Mny-Nov. .Tan.-July £ s d 2 18 4 2 18 9 3 5 10 New Zealand. .. 1 264 270 242 299 6 2 6 6 10 0 5 16 6 6 11 9 10 Dec.-JTine June 4 5 1 Rcserve 6 6 3 19 3 Union 6 _ 10 0 0 9 18 0 8 11 0 6 Jan.-July 3 19 INSURANCE National Now Zealand . . . South British.. 7b 1 1 0 18 4 — 0 18 0 110 2 19 6 3 0 0 2 18 3 3 10 6 480 4 10 0 486 4 18 0 10 6-7 10 2b 8d Mny-Nov. Feb.-Aug. Apl.-Oct. 4 1 10 3 7 3 2 19 11 LOAN AND AGENCY— August . Dec.-June 4 13 6 3 16 2 4 10 0 **Dom. I. & B.. Cmlds-Mort.... Mort;:. Corp. . . . 1 1 10s 0 16 6 0 17 9 0 17 0 0 17 0 1 11 0 1 12 0 1 11 9 18 4 0 10 0 — 099 — 4 6 41 COAL— Pukcmiro... >. I 12 6 139 130 156 6 Mar.-Sept. 5 3 9 2 11 3 4 9 11 Renown Taupiri 12s 1 3d Sept. Nov.-May. "Westport...... 10s _ 12 3 123 120 To Mny-Nov. GAS— Auckland Do. (con.)... 1 15s 159 166 160 179 0 18 9 — 0 18 9 108 6* 51 July-Feb. July-Feb. 4 4 7 4 8 0 SHIPPING— Devnp't Ferry Northern Steam 1 118 110 — 110126 066 072 06 10 06 10 6 6 Dee.-June Nov.-May 4 15 3 0 6 9 TIMBER— K n u ri 25s 140 14 6 139 0 18 5 6 June-Dec. 6 4 4 7 2 10 National 1 6 May-Nov. WOOLLEN— Kninpoi 17s 0 14 3 — 0 14 0 — 8 Sept. 3 11 7 BREWERIES— Dominion • 1 109 120 110 0 15 0 Jan.-July 2 13 6 N.Z. Breweries. 1 2 12 0 2 13 0 2 11 6 2 13 9 7 MISCEL'OUS— British Tobacco Broken H.P.. . . Bvcroft 1 J 1 1 19 6 200 209 1 17 8 2 19 4 2 19 6 2 19 8 2 11 8 220 — 230 2 10 0 6 10 10 Quarterly Nov-May. Nov.-May •3 10 6 •4 4 2 4 15 3 Colonial Sugar. 20 41 10 0 — 41 15 0 42 0 0 61 May-Nov. 8 0 3 Con. Brick.... Elec. Zinc (pf.). Farmers' Fert.. Farm. Trading1 098 0 10 0 0 10 0 088 119 6 216 119 6 113 9 100 106 106 0 18 9 093 096 092 076 H 8 61 6 Mar.-Sept. August June 8 18 6 5 8 8 4 6 0 Milne & Choyce (deb.) N.Z. Newspapers Robinson Ice.. Union Oil i i i 16s 0 16 0 0 17 0 0 16 6 0 18 0 1 18 6 — 1 17 6 1 13 9 — 146 146 126 — 19 6 196 199 81 6 7 Is 3d Apl.-Oct. Nov.-May June Apl.-Nov. 4 4 10 •8 2 4 5 14 3 4 4 9 •3 14 7 Wilsons Cement 10s 1 19 6 2 1 8 1 19 9 1 14 0 13 £ Nov.-June MINING— Martha 5B 0 19 6 0 19 9 0 19 6 — May-Nov. *6 5 10 Waihi G. June.. Mount Lyell. .. 2b 1 086 040 039 046 — 146 140 0 19 6 7d 21 May June-Dec. 10 19 6 2 0 10 GOVT. LOANSBonds, 1940.... 00 101 15 0 _ 101 15 0 103 10 0 4 Jan.-July 3 15 6 Ditto, 194(5... 00 102 15 0 — 102 12 6 106 5 0 4 Feb.-Aug. 3 14 9 Ditto, 1949... Ditto, 1955... 00 00 104 0 0 — 104 0 0 109 2 6 103 10 0 — 103 10 0 HI 12 6 4 4 Apl.-Oct. June-Dec. 3 15 11 3 16 7 Stock, 1939-43. . 00 100 10 0 _ 100 10 0 — 31 Mar.-Sept. 3 9 10 Ditto, 1940. .. Ditto, 1946. .. Ditto. 1949. .. 00 00 00 4 4 4 Tan.-July Feb.-Aug. Apl.-Oct. 3 14 1 3 13 6 3 15 11 Ditto, 1955... 00 4 June-Djec. 3 16 3 DEBENTURESAmal. Brick (Ak.) 1 00 7* Mar.-Sept. 6 1 11