NIKAU BACON COMPANY

New Zealand Herald, Volume LXXIII, Issue 22499, 17 August 1936, Page 5

NIKAU BACON COMPANY

INCREASE IN CAPITAL BONUS DISTRIBUTION A proposal to increase the capital of tlie Nikau Bacon Company front £16,000 to £25,000 by the creation of 9000 £1 shares, and a distribution of shares by a bonus to all shareholders, will bo considered at a special meeting on September 8. The resolution to bo submitted to the meeting: states that it is desirable to cnpitaliso the sum of £6ooo,"as follows:—£109 standing to the credit of reserve account; £IOOO, comprising the revaluation of goodwill; £1.'550 standing to the credit of premiums on shares; and £sll from undivided profits. It, is proposed that these shares shall be distributed to present shareholders in the proportion of one for every four preference shares held, and one for every two ordinary shares. The now issue is to bo treated as capital, not ns income, and will participate in any dividends declared after August.3l next. The company has been operating for 11 years, becoming a public company in 1921). The sum of £IO,OOO was recently expended in making extensions to the company's factories. Nominal capital stands at 8000 ordinary shares and 8000 8 per cent preference shares, of which 1215 ordinary and 2000 preference were unallotted. According to the balance-sheet for tho year ended December 31, 1935, paid capital amounted to £l-1,000 in 8000 ordinary and 6000 preference shares each of £l. The net profit for tho year was £3155, against £2515 in the previous year. A dividend of 12 per cent on ordinary shares and S per cent on preference shares was paid. PERIOD OF ACTIVITY LONDON STOCK MARKETS FACTORS IN SITUATION (Received August 10, 5.5 p.m.) LONDON. August 15 For no special reason tho London stock markets have enjoyed a very active period for some time, especially the industrial section. Encouraging trade news led to a steady stream of buying. Less solid justification for tho activity is provided by tho anticipation that the Spanish troubles will be localised and hopes that the franc has seen the worst of its troubles. The gilt-edged market was especially firm in the middle of the week. Australian were prominent among Dominion issues. Tho appointment of Herr von Ribbentrop as German Ambassador to Britain was well received in the City and led to a slight hardening of German bonds. Rails continued last week's advance and many industrials lifted to new high levels. Mines alone were rather tired, but brisk business was done in Broken Hills on reports that buying in tho Australian commodity markets was rather quiet. There was no marked change in wheat over the week, though tho market fluctuated considerably from day to day. FOREIGN EXCHANGES FLUCTUATIONS IN LONDON British Wireless RUGBY, August 15 The following rates on foreign exchanges were current yesterday, compared with the cabled quotations on August 13 and par: Aug. 14 Aug. 13 Tar Montreal, dol. 5.02% 5.02% 4.SCO New York, dol. 5.02% 5.02 1 /, 4.866 Paris, fr. .. 70% TO 11 324.21 Brussels, belga 20.83% 29.85 35.00 Geneva.fr. .. 15.42% 15.42% 25.22 Amsterdam, fl. 7,10% 7.10% 12.10 Milan, lire .. 63% 03% 92.46 Berlin, r.m. . . 12.49% 12.49% 20.43 Stockholm, kr. 19.90 19.90 18.159 Copenhagen, kr. 23.37% 23.37% 18.159 Oslo, kr. .. 19.90% 19.90% 18.159 Vienna, sch. .. 20% 20% 34.585 Prague, kr. . . 121% 121% 104.25 Helsingfors, m. 227 227 193.23 Madrid, pes. .. 39%+ 39 25.221 Lisbon, escu. .. 110% 110'/, 110 Athens, dr. . . 529* 529* 375.00 Bucharest, lei. 075* 075* 813.6 Rio de Janeiro 4'/ 4 d 4'/d 6.899 d Buenos Aires, d. 35d 85d 47.619 d Montevideo, dol. 38% d* 3S*%,d* 51d Bombay, rupee lS%d 18% d lSd Shanghai, dol. 14 13 / ie d 14 l Y ls d Hongkong, dol. 14 3 % a d 14 2 % a d Yokohama, yen 14 ll / 33 d 14"/ 3 ad 24.58 d Batavia, fl. .. 7.37% 7.37 12.10 Belgrade, din. 220 220 270.31 Warsaw, zloty •Sellers. (Received August 16, 5.5 p.m.) LONDON, August 15 On the foreign exchange market today the following quotations ruled:— New York, 5.022 dollars; Paris, 762 francs; Batavia, 7.36} florins. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Saturday, on a New Zealand currency basis, stibjcct to alteration without notice: Selling— United States Canada On demand .. 4.03% 4.03% T.T 4.03 4.03 Buying: On demand .. 4.08 4.07% 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:— To t'l N./j. T.T. On Demand Currency Selling Buying Selling U.S.A., dol. . . 1.03 4.07% 4.03% Canada, dol. . . 4.03 4.07% 4.03% Austria, sch. . 20.92 Belgium, lielga •j:t.M3 C/.echo'vakia, cr. 00.74 Denmark, kr. 17.893 15.203 17.003 France, fr. .. 01.07 Germany, r.m. . 0.97U Holland, fl . . 5.M99 s.!)(>:{ Java, fl. .. 5.801 Norway, kr. .. 15.892 10.242 15.902 Sweden, kr. . . J0.489 1 5.841 15.409 Switzerland, fr. 12.200 Noumea, fr. . . 50.70 Papeete, fr. . . 5!J.«5 N.Z. pence to—

lfontckony, dol. It) 5-01 17 f>3-04 19 304 India, rupee . 2220-32 1-32 22 57-04 Ceylon, rupee 22 20-32 22 1-32 22.57-04 Japan, yen .. 37 41-04 Shanghai, dni. 38 7-10 17% 1827-01 Singapore, dol. 35 31-01 31 15-04 35 15-32

'The cost in Now Zealand currency of the poutui sterling, and of the principal overseas units, on the latest quotations, is as follows: —

Present Price Par S (1 fid Australia, pound . . 1!) 10.81 20 0.00 London, pound . . 21 10.05 20 0.00 Fiji, pound . . '2'2 5.00 20 0.00 New York, dollar .. 4 11.30 4 1.31 Montreal, dollar .. 4 11.37 4 1.31 Paris, franc . .. 0 3.01 0 1.08 Berlin, reichsmark .. 1 11,80 0 11.74 Copenhagen, krone . 1 1.33 1 1/22 Yokohama, yen . 1 5.45 '2 0.58 CUSTOMS EXCHANGE RATES Rates of exchange ruling at tho announced dates of departure of vessels named are shown in the following table. They arc subject to confirmation by tho Customs Department when the exact time of departure is learned. Finally declared rates are marked*:— Reiyo Maru Japan, yen .. .. *l4d Ashhurlon, America dollars .. 5.01% Canadian Scottish, Canada, dollars 5.0'2 Limerick, America, dollars .. . . fi.o2 3 /4 Niagara, Canada, dollars .. .. 6.0'2% MINING SHARES IN LONDON LONDON, August 14 On the mining market to-day Mount Lyells sold at 23s 6d and New Guineas at 3b 9d*