AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXV, Issue 23103, 30 July 1938, Page 9

AUSTRALIAN EXCHANGES

CAUTIOUS ISUYIiNM! SMALL PRICE MOVEMENTS (Deceived July 'J!». T.l.'i p.m.) SYDNEY, July '_»!> The share-market was dull, with only narrow price variations, on tlio Svtlm.iv Stock Kxehange to-ilay. Buyers conlinuo to operate with caution. Splendid rain is falling in New South Wales and this is expected to stimulate the niarkel next week. Sales included: .1 s ft I '.a nk (if Adelaide u Hank lit' New South Wales ill 7 <s I 11 mlda rt-l 'a rker i pref.) . . I do ! Tnuhev's • lirewerv . . 11l <> 1 Ditto 1 II l!i Tooth's 'J 1". <i i A nsl. (l.vpMim (N.Z. deliv.) I I d Hril isli Tobacco . . !i O Broken Hill Proprietary .. :t o d I i 'olonial K a lidos ( 'einenl . . I 7 (I Mauri Brothers .. .. :i s 0 Morts Dork .. (It:! !l I'eters lee '-'II !' It. Fowler (i J-' :! Trailers Kina me 1 'J (I W'oolworl lis (Sydney) I - IVI Wumlerlieli ton Mon nl ,\! or«:an Oil 0 Kiuperor <> 1- Id Coimiionwea II Ii Dnmls. 1 per cent, lOi'.S, LtOl .">s; toll llOg lis :id; 1!' 11. L I (>'_! 17s (Id; l!t,V», JL"* IfII I I ."is; ldoT. !' I<>: 1 17s (ill; I!).".! I. ( till 7s fid ; 1! Ki I. fI O 1 7 s lid. MELBOURNE EXCHANGE There was a slightly hotter tone on the Melbourne market in view ol the better New York market. Gold stocks were irregular. Business included: .1' s d ('oinmercial Hank Australia o Id s < ioliMirouirli-Mort . . 1 7 !' ( arllon Brewery :{(!<; Aust. Iron and S'teel (pref.) I' S •'! Broken Hill Proprietary :S :j Ditto I new) 117 7' j J. Coles . .. I :! !' Herald anil Times . . o d I mp. ('lieniicals ( pref.) 1 I d , Mount l.yell . . 1 !' t' j North Broken Hill . . s !i Kmperor .. .. d 1- '• I .oloma . . . . I BLACK WATER MINES NET PROFIT OF £23,743 EXPENDITURE ON PLANT j t-'ltOM OCR OWN COItItKSI'ONIM'NT] LONDON, .Inly Id A dividend ol 21 per cent, fre L > of tax, will he declared at' the annual meeting of Blackwatcr .Mines, Limited (controlled by Consolidated Goldlields of New Zealand), on July 27. Net profit for the year ended December :n. 1H;57, amounted to £23,7-1)5, against £27,288 for 19.'56. With the balance brought forward there is an available total of £.'i2,878. A sum in excess of the profits ior the year has been allocated to the cost of a new mill and other capital items, and is not therefore available lor the payment of a dividend Accordingly there has been transferred to general reserve £25,000. leaving a credit of £7878, against £Ol-'!5 brought in. Tito 2} per cent dividend is to be declared in view of the non-payment of a dividend during the past year, and in anticipation of an interim dividend. 'Kstimated ore reserves at December 31 amounted to 81.877 tons of an average value of !)..'ißdwt. It is stilted by the general manager that developments during the current year should result in an increas> in reserve tonnage at December ;J1 next. ;i satisfactory feature being an improvement in the value of the ore at depth. The new mill, costing approximately £20.000, after various unavoidable delays, began crushing on July 4. It is rstimated that by treating 200 tons daily of ore averaging O.OOdwt. a ton the additional profits will be ■approximately £15,000 sterling per annum.

CONSOLIDATED GOI.DFIELDS FARXIXGS TOTAL £7298 ( I'ltO.M OL"ll OWN COItItKSI'ONI)ENT] LONDON, July 10 Consolidated Cloldfields of New Zealand, which will also hold its annual meeting oil July 27. made a net profit of £7208 last year, against £21,775 for 1936, which with a balance brought forward of £24,560 givea a total of £31,859. A dividend of 12J per cent was paid, free of tax, on .June 30 last year, leaving a balance of £25,601). It is proposed to pay an interim dividend of i>\ per cent free of tax on account of the year 1938.

KANDOS CEMENT, LIMITED INCREASE IN PROFIT A net profit of £97,100, compared with £83,108 in the previous year, was earned by Kandos Cement, Limited, Sydney, in the year ended June 30. Dividend has been maintained at 10 per cent, but a bonus of 2] per cont, to commemorate the 25th anniversary of the establishment of the works at Kandos, is recommended. The company is purol.v a holding one, with shares in Australia l Portland Cement Proprietary, Limited. GOLD AND SILVER QUOTATIONS IN LONDON LONDON, July 28 Fine gold is quoted to-day at £7 Is 5d an ocompared with £7 Is 4d yesterday. Silver is quoted at 19 5-lGd an oz. spot and 19 3-16(1 forward, compared with 19 7-16 d and 19 5-16 d yesterday. The quotation for silver at per line ounce is 20 13-16(1, compared with 21d yesterday. The following is a summary of tho fluctuations in the price per ounce of line gold this year: £ s d Highest price, July 20 .. 7 1 <1 Lowest price. January 3 .. 0 1!) r> July 22 .. .. ..7 1 G'/a July 23 7 1 r, July 2"> .. .. ..715 July 20 .. .. ..7 1. 4 July 27 7 14 July 28 7 15 lIUME PIPE MERGER A majority of shareholders in Hume Pipe (Far East) Limited, has voted in favour of the merger proposed with Hume Pipe (Australia) Limited. CALL AND DIVIDEND LIST Dividends — Due British Tobacco----pref., quarterly, il'/': p.e. p.a. . . . . . To-day Entrieaii, Sims pref. and ord.. .1 p.e. p.a. . . . . . . Ante. 1 Wellington (las-—-ord., inf., 4 p.e. Auk I Smii i and Smith--pref., halfyear. 2',-j p.e. Aiik I ArK" ('old -!d a share Auk I (!. J. Coles ord., final, 7'/ a px. and bonus, (Id a share Auk. I X.X. Insurance —final. Is a share Am,'. 2 Auckland Cas —int., '2/ p.e,. .. Auk. 2 Farmers' Fert. —0 p.e. p.a. Aiik. M Mt. Morgan—pref., half-yearly, 4 p.e. . . Auij. I."> Moss.v Creek—ld a share . . Auk. IT. Wool worths (Syd.)—pref., halfyearly, first, 10 p.e. p.a.; second, 7 p.e. p.a. . . . . Auk. 1.1 Corn. Hank Ans.—final, pref., 4 p.e. p.a.; ord., 7 :/ a p.e. p.a. Aw?. 18 Queensland Nat. Hank final, 2VS p.e. Auk- 18 Bank New South Wales quarterly, Os a share . Auk. 25 Elccfro. Zinc —final, pref. and ord.. i) p.e. . . • • Sept. 10 Calls — Broken Hill Ply.—con., 5s a share , 1 o-da.v Felt and Textiles —5s a sharo Auk. 1 Burn,-!, Philp—new, os a sharo Oct. 1 Woolworths Props.—los a sharo Oct. 31