STOCK EXCHANGES

New Zealand Herald, Volume LXXVII, Issue 23719, 27 July 1940, Page 7

STOCK EXCHANGES

YESTERDAY'S SALES

RETURN ON INVESTMENTS In the following list of yesterday's sales yields allow for exchange' and British income tax where necessary, and, in the case of Joans, redemption and brokerage:— AUCKLAND EXCHANGE Sale Price Rise or Yield L s d Fall jC s d Bank N.Z. .. <> 0 Sth. British . . '2 7 (i X.Z. Brew. .. 1 10 o ' §Xnt. Electric 0 18 O ... (I 10 4 Wilsons Cem't. <) 18 0 +od 4 0 4 Also: {Auckland Gas, perp. stk., £100; Worksop Extended, 3%d. Wellington.—Stock, 15/4/10-49, 4, £101; insurance, 58s (id ('2); N.Z. Guarantee Cor|)., Us; §Leyland-o'Brien Timber, 10s. Christchurch. —Auckland Gas (perp. deb. slock), 1:100; Martha, 7s 3d; Okarito, (id. Dunedin, —Stock, 15/1 /53-57, O'/i. .£00; ditto, I.J. L- Ki:i ins; §Gillespie s Beach, (id; Okarito, (id. gSales completed after hours on . the previous day. AUSTRALIAN DEALINGS QUIET BUT FIRM MARKET (Received July 20, 8.55 p.m.) SYDNEY, July 20 Trading on the Stock Exchange to-day was along quiet but firm lines. Sales included: — Bank of New South Wales, £'2s IOs; ditto, t"25 15s; Tooths Brewery, -18s Od; A.G.1., 00s Od; ditto, con., lis 2d; Anthony Hordern, uref., J7s (id; British Tobacco, 455; Broken Hill Pty., 40s 3d; Colonial Sugar, fl7 7s (Id; Dunlop-Perdriau, 17s; James Stedman. lis (id; Standard Cement. 10s (id; W. It. Carpenter, 0((s; Woohvorths (Syd.), 15s Oil; .Emperor, 10s (id; . Loloma, '2'2s Id; Kanieri. *'2'2s; North Broken Hill, 31s -Id. Melbourne sa'es included: —Commercial Bank Australia. 10s; ditto, pref.. £8; Goldsbrough Mort, '2os Id; Carlton Brewery, s)is; Argus, pref., 13s 3d; Broken Hill Pty., -13s 5(1; Mount Lyell, '2(is 2d; Mount Morgan, 8s Id. INCOME FROM WOOL \ . . CHEQUE FOR £65,000,000 ASSISTANCE TO AUSTRALIA Wool lias provided a welcome increase in Australia's national income during the past season. Its earnings reached more than £0.5,000,000, or about £23,000,000 more than the previous year. In addition to the money for the clip, exports of lamb and mutton have been worth at least £6,000,000 to £7.000.000. and substantial shipments of sheepskins have been made, states AVinchconibe, Carson, Limited, Sydney. The revenue from wool has been augmented by the increased quantities which have been carbonised and scoured in Australia to economise in shipping space and also by the greater supplies which have been manufactured into fabrics for the fighting forces. That activity has given greater employment, which adds to national income. Reference to the. fact that over a period of 20 years since the appraisement scheme of the 1914-18 war, production in the Commonwealth had increased bv about 70 per cent, was made by Mr. K. M. Niall. chairman of Goldsbrongh, Mort and Company. Limited, at the annual meeting in Melbourne. Of the record quantity of wool appraised in Australia last season, 2.r>6-5.000 bales bad already been shipped or allocated for shipment, and 300.000 bales had been taken by local consumers. BANK OF ENGLAND RETURN LOWER NOTE CIRCULATION . LONDON. July 25 The return of the Bank of England for the week ended July 24 shows a, further slight fall in note -circulation of £1.300,000 to £007.000,000. Total deposits are £1,200.000 lower at £lB-5.200.000. while advances have risen by £20(1,000 to £3,200,000. Coin and bullion have fallen by a further £IOO,OOO. The proportion is 12.77, against 12.04 in the previous week. The discount rate is unchanged at 2 per cent. CONSOLS AND DOMINION STOCKS The following gives quotations for consols and colonial inscribed stocks, the variation since last week being shown in parentheses: — Consols -J'/- per cent, £72 lOs (same); Fundin- Loan, I. 1000-00, £.llO 5s (-ss); War Loan 3 1 '.. 1001. <M)!l Loan, 3%, loot, Clou (+l(is); Victory Bonds. I. CIOO (-ss); New Zealand, 4Vi, jO ts-58. 11 no 17s Od (+ss); New Zealand, 3, 1015, £O3 lOs (-ss). • , UNION BANK DIVIDEND BRITISH TAX PAYMENT CHANCED British income tax on the interim dividend of 3s sterling a share declared earlier this month by the Union Bank of Australia, Limited, has been altered from 9d a share to 10.8 d. This changes the net dividend from 2s 3d a share, sterling, to 2s 1.2 d a share. The date of payment has been altered from July 31 to August 14. ZINC CORPORATION DECLINE IN EARNINGS Net profit of Zinc Corporation, Limited, London and Melbourne, for the vcar ended December 31. 1039. was £l-12,575, sterling, against £181,422 in the previous year. Estimated ore reserves were 451.000 tons higher at 3,459,000 tons. Tonnage of ore mined ■was 42(5.345, an increase of 12.585 tons over the previous year's record. Combined mining and milling costs at 20s 5(1 a ton, Australian currency, were lOd higher. BRITISH WAR BONDS British Wireless LONDON, July 25 The National Savings Committee announces that the amount oh subscriptions to the 2i per cent. National WatBonds loan received during the week ended July 23. was £11.850,495. making a total since June 25 of £121.506,065. The amount received by the Treasury in loans free of interest during the week was ,£1.023.592, and the total of such loans now amounts to £12,874,583. ACTIVITY IN BRADFORD LONDON. .Tuly 35 Brailford quotations for yarns are unchanged and generally firm. There is great activity pn the Government's account. PIG COLLECTION ZONING \ [by telegraph—OWN correspondent]] WHANGAREI, Friday At a conference of representatives of local stock firms and fat stock buying agents with the Whangarei branch of the Fanners' Union a scheme for the zoning of districts for pig collections was agreed upon in principle. At a further meeting it is proposed to endeavour to allocate collection areas. It was explained by the union president. Mr. N*. Horrobin. that immediate action was necessary, as the Government had intimated that unless a voluntarv scheme was put into operation.. then the Transport Department would enforce a scheme,