STOCK EXCHANGES

New Zealand Herald, Volume LXXVII, Issue 23699, 4 July 1940, Page 3

STOCK EXCHANGES

YESTERDAY'S BALES RETURN ON INVESTMENTS In the following list of yesterday's sale 3 yields allow for exchange and British income tax where necessary and, in the case of loans, redemption and brokerage:— AUCKLAND EXCHANGE Sale Price Rise or Yield £ s d Fall £ s d Stk.. 15/3/4043. 4 ..101 2 G' 8 16 7 Do., 15/6/5255, 4 .. 102 15 0 {Bank A'asia 8 10 0 Bank N.Z. . 119 O N.Z. Insce.. 2 14 3 Dom, Brow. 18 0 -6d 811 5 Farmers' Trad. O 17 6 +6d 8 0 0 M.K, Mfrs, . 0 3 6 -3d N:Z. Drag . 313 0 N.Z. N'papers (2) 16 0 +3d 5 18 W'wiht (N.Z.) 013 9 +3d 316 4 Also.—{Stock, 15/6/52-55, 4, £lO2 15s. Wellington.—Stock, 15/11/38-41, 8% £100; ditto, 15/2/43-46, 4, £lO2 15s[ ditto, 15/4/46-49, 4, £lO2 12s 6d (2); ditto, 15/6/52-55,4, £lO2 15s; {ditto, 15/5/49-52, 4, £103; ditto, 15/3/40-43, 4, £lOl 2s 6d; Napier Borough, 1/10/49, 4'/, £lO2 15s; sßank Australasia, £8 10s (odd lot); Bank New Zealand, 395; JXew Zealand Insurance, 545; ditto, 54s 2d; {Union Steam (pre!.), 25s 6d; Newton Kins (pref.), 10s (2); Wellington Gas (pref.), 21s 6d; N.Z. Refrigerating (con.), 8s 8d; "Westport Coal, 20s 9d; Dominion Breweries, 28s. Chrlstchuroh.—Stock, 15/2/43-46. 4, £lO2 15s i {ditto, 18/5/40-52, 4, £lO3 ss; ChrlstchiiTch City, 31/3/40-47, 4%, £lO2 10s: Walmakariri River Trust, 1/10/43, 4 1 A £lO2 10s; Invercargill City, 1/11/45, 4 1 /. £lO2 2s 6dj Timaru Borough, 31/3/43, 3 1 / t , £9B os; Auckland Gas Perpetual Stock, £9B 10s, ex int. (2); Christchurch Gas, 23s l'/ad (2)j New Zealand Breweries, 30s. Dunedin.—Bonds, 15/1/53-57, 3Vi, £100; Bank New Zealand, 395; Westport Coal, 20s 9d (odd lot); New Zealand Breweries, 30s> Nokomai Gold. Is 3d. {Sales completed after hours on the previous day. AUSTRALIAN DEALINGS DULL MARKET CONDITIONS (Received July 8, 7.45 p.m.) SYDNEY, July 8 The Stock Exchange wasi dull to-day. Sales Included:—Bank New South Wales, £24 16s; Commercial Bank Australia, 12s; Tooth's Breweries, 40s 9dj, Toohey, 28s: Australian Gas. £5 Ss 6d; Associated News, 10s; Anthony Hordern, lis; A.C.I, (con.), 12s 3d; Broken Hill Pty., 39s 7%d; Colonial Sugar, £45 15s; Kandos .Cement, 255; Peter's Ice, l«s 9d; Mount. Morgan, fis fid; Mount Lvell, 23 s; North Broken Hill, 30s 3d; Broken Hill South, 20s; Arahura, 18s; Emperor, fis 4d. Sales In Melbourne Included:—Metropolitan Gas, £l2 17s; Emperor, 9s 3d; Loloma, 19s lOd.

INTENSE EFFORT DEMAND ON BUSINESS DANGER TO SECURITY FACING UP TO BURDENS "It Is being brought home to us very forcibly that the individual and his possessions are secure only to the extent that our country is secure, and, in turn, the security of our country is dependent upon the security of the Empire," said Mr. Kelliher, managing-director of Dominion Breweries, Limited, when addressing shareholders at the annual meeting yesterday. "It is in this light," he added, "that we should regard the unprecedented burden imposed by the war on one and all, and realise that the whole of our resources in men and material and all we'possess are at the" disposal of the Government for war purposes." At a time of crisis, such as the present, there was always a tendency on the part of commercial enterprise to follow a restrictive policy and to resort to measures which, from a national viewpoint, nearly always proved to be false economy, Mr. Kelliher said. It should be self-evident that ultra-con-servatism invariably brought about the loss of purchasing power and seriously impaired, not only business stability, but the whole economic structure, including employment and the security of investments, with the result that a depression became inevitable. No matter, therefore, how serious the position might appear to be, common sense and sound business practice dictated a policy of intensified individual and collective effort in every phase of production as the only sound and logical course to pursue.

HIGHER DAIRY OUTPUT MAUNGATUROTO RECORD r —• [from our own correspondent] WHANG AREI, "Wednesday A record in output is reported by the Maungaturoto Dairy Company for the season ended May 31. In that period, 1274 tons of butter were manufactured, an increase of 132 tons. The average grade of the produce was 94.341 points, and in the Weddel Cup competition, the company's product was placed second. There were 303 suppliers, 17 less than in 1938-39. A surplus of £21,616 is shown in the appropriation account and, when this is paid to suppliers, the average pay-out over all grades for butter-fat supplied will be 16.162 d per lb., against 16.091 d per lb. in the previous season. Costs have been reduced from the 2.289 d per lb. butterfat, to f.0.b., in the previous season, to 2.160 d for the past season.

INCREASE AT MAUNGATAPERE An increase of 98 tons in the production of butter for the season ended May 31 is announced bv the Maungatapero Dairy Company. The total output was 1254 tons, the second largest in the company's history. The record was achieved in 1937-38 with 1271 tons. With a deferred payment of 2.026 d per lb. butter-fat, the season's pay-out will be brought up to 16.211 d per lb. With the dividend on share capital and the ti'ading rebate, the total payment for the past season on a butter-fat basis will be 16.835 d per lb., against 16.082 d per lb. average over all grades in the previous season. profit of £1295 was shown in the trading account, out of which a rebate of 5 per cent on all goods and manures sold is proposed. The .number of suppliers for the season was 272, against 276, and the average grade of butter 93.46 per cent, against 98.602. Total charges to f.o.b. were 1.986 d per lb. butter-fat, against 2.033 d in the previous season.

STOCKS IN LONDON I LONDON, July 3 On the London Stock Exchange quotations for bank shares and other corporation debentures and Etocks are as follows, with comparison for June 18: — June 18 July2 £sd £ s d Bank of Au*tralasla . 5 15 0 4 15* 0 E., S. and A . . . 217 6 210 O Union Bank . .. 4 12 G 3 17 G >~ew South "Wales .. 18 10 0 17 0 0 National Bank N.Z. . 0 10 0 10 0 Bank of X.Z. . ..140 116 British Toba-cco • .. I'll 3 1 7 8 Goldsbrousrh Mori ... 0 18 9 -O 18 . 9 Palroty ... .. 5 5 0 4 5 0 P. and O. (def.) 015 0 014 6 SBB 8 8 8