AUSTRALIAN EXCHANGES

New Zealand Herald, Volume LXXVI, Issue 23339, 6 May 1939, Page 9

AUSTRALIAN EXCHANGES

SEVERAL GAINS LOST

LONDON WEAKNESS FELT (Received May 5, 7.55 p.m.) SYDNEY, May 6 Russian and other developments having adversely affected the London share market, the market on the Sydney Stock Exchange to-day lost some of yesterday's price gains. Sales included:—

BURNS, PHILP YEAR

INCREASED EARNINGS PROFIT RISES TO £251,144 PROPOSED FLEET ADDITIONS Further steady improvement in the earnings of Burns, Philp and Company, Limited, Sydney, is shown in the accounts for the year ended March 31. Net profits amounted to £251,114, compared with £2-10,574 in the previous year and £226,007 in 1937.

An unchanged dividend of 10 per cent on the increased capital requires £181,250. A sum of £50,000 is appropriated to a special insurance fund owing to the difficulty and uncertainty of insuring the company's vessels against war risk. A further £25,000 is appropriated to general reserve, and £26,353 is carried forward, against £31,459 brought into the accounts. Gross profits were £1,277,658, an increase of £165,738, and expenses, at £827,159, were £119,214 higher. Results for the past three years compare as follows: — 1U37 1938 1030 £ £ £ Brough forward 31,1X58 32,135 31,450 Net profit .. 220,007 210,57-1 251.144 257,135 272,700 282,003 Dividend, 10 p.c. ,150.000 150,250 181,250 To. reserve .. : 75,000 75.000 25,000 Insurance fund . Staff fund .. Carried forward 3'-!,135 31,-150 The directors state that in November the new modern passenger and cargo motor-vessel Uulolo was placed in the Papua and New Guinea trade, replacing the .Montoro. A small motor passenger and cargo vessel, specially built lor the Papua inter-island trade, was completed during the year and placed in commission in June. It is intended to replace one of the older cargo units ol the company's fleet with a modern vessel of larger capacity, for which plans are now being prepared.

NEW SHARE ISSUE

WOOLWORTHS PROPERTIES ONE FOR ONE AT PAR (Received May 5, 8.25 p.m.) SYDNEY, May 5 The directors of Woolworths Properties, Limited, have .decided to issue 296,697 6 per cent euinhlative preferred ordinary shares of £1 each at par to provide further capital lor the purchase of properties.. , . These will be offered in the first instance to holders of preferred ordinary shares registered on, May 26 in the proportion of one new share for each share held. The shares will rank for dividend at the rate of 6 per cent per annum as from the dates specified. The designation of the company's preference shares was altered to preferred ordinarv shares in March to enable the shares to be listed on the Stock Exchange. PRICES OF METALS TIN AND COPPER FIRM LONDON,. May 4 Following are to-day's quotations on the London metal market, compared with those of yesterday:— May 1 May 3 Per ton Per ton .1' s d £ k d Copper, stan., spot 41 18 1% 41 11 I'A ' Copper, stan., 3 mos. 12 5 ~y 2 42 0 7 A Copper, electrolytic 47 15 0 47 10 0 to to -18 15 0 48 10 0 Copper, elect., wire bars .. . . 48 .15 0 48 10 0 Lead, soft, spot . . 14 8 1% 14 8 1% Lead, soft, forward 14 13 IX, 14 13 1 % Spelter, spot .. 13 10 ~ A 13 10 7A Spelter, forward 13 1(5 10A 13 8 l /sl Till, stan., spot . 225 12 0 225 7 0 Tin. stan. 3 mos. 2'J2 17 0 222 17 0 LONDON MINING. MARKET LONDON, May 4 On the mining market to-day New Guinea Gold-shares sold at Is old. Other quotations includedClutha River, -buyers Is, sellers Is fid; Molyneux River, buyers 3d, sellers 4Jd.

£ s d Bank of New South "Wales 28 18 0 Ditto (N.Z. delivery) .. 28 J!) 0 Commercial Banking Sydney 10 0 0 Felt and Textiles .. .. 10 0 Australian Gas (A) .. .. 7 4 0 Toohcys Brewery .. .. 10 3 Tooths .. .. 2 12 3 Ditto . .•> 2 12 0 Associated Newspapers (pf.) 113 Aunt. Consolidated Industries 1 33 0 Australian Gypsum .. .. 113 British Tobacco .. .. 2 0 0 Broken Hill Pty. .. .. 2 17 3 Ditto ., ,. ,, 2 17 0 Ditto (con.) .. .. 2 10 0 Cash Orders .. .. 0 15 10 Colonial Sugar .. .. 40 2 0 ~ 4(i r> o Dunlop-Perdriau .. .. 10 0 Electrolytic Zinc ., ,. 2 4 0 G. J. Coles .. .. 3 18 0 Henry Jones . .. .. 2 7 0 Masonite Corporation .. o J5 o Morts Dock .. .. .. o 1-1 (5 W. Atkins 12 3 Woolworths (Sydney) .. 12 0 Wunderlich .. . . . J 5 q Arahura Gold .. .. 15 3 Austral N.Z. Mining .. L 2 3 Emperor 0 8 3 Larut Tin 0 5 3 Loloma .. .. i i i Placor Development . .. 3 7 0 ltawang Ti« .. .. 0 0 9 Bonds.—3'/, per cent, 1918, . per cent,-195-1, £08 5s; 3% per l 0o4 » £1°0 3s Od; 4 per cent, 1941. £ - I 01 ' 1, X ' ,0l: 1053 - 7s (Id; 1955, £'102 5s; 1959, £101 7s Od: 1901, £101 8s 9d. MELBOURNE EXCHANGE Business on the Melbourne included:—• market Commercial Bank Australia Nat. Bank A'asia (£5 paid) Ditto (£10 paid) Aust. Paper Manfrs. (pref.) Cox Brothers Dunlop-Perdriau (pref.) .! Electrolytic Zinc (pref.) . . Broken Hill South Loloma £ 0 0 12 1 0 1 2 1 1 s 15 4 10 1 9 10 9 5 1 d 4 0 0 9 9 0 9 9 0