STOCKS AND SHARES

New Zealand Herald, Volume LXXVIII, Issue 23968, 19 May 1941, Page 3

STOCKS AND SHARES

SMALL SYDNEY TURNOVER SLIGHT IMPROVEMENT SHOWN Although trading was light, and the turnover generally small on the Sydney Stock Exchange on Saturday, some loading st6cks showed slight, improvement. Strong buying in _ eastern tin shares sent prices higher. Rises occurred in Kuala Kampar and Larut. Sales included:— Commonwealth I .wans, 1951, 3s, £lOl 3s 9d; 1941, 4, £99 18s 0d; 1959, 4, £lO7 (3s 3d; Bank of New South Wales, £2O 2s; Tooth's Breweries, 50s 6d; A.C.1., 43s lid; Associated Newspapers, 12s lid: British Tobacco, 445; Broken Hill Ply.. 40s; Morts Dock, 19s; Broken Hill South, 22s 4Jd; North Broken Hill, 365; Kuala Kampar, 16s 3d; Lurut Tin, 7s sd; itawang Tin, 8s 2d. BURNS PHILP'S TROUBLES FUTURE DIVIDEND POLICY The chairman of Burns, Philp and Company, Limited, Mr. James Burns, to d sharebottlers at the annual meeting in Sydney last week that the company could not guarantee the future payment of regular dividends. lne almost complete collapse of the Pacific coprn trade other (setbacks because of the war and further difficulties that might toe encountered were responsible factors. nnf . It was recommended to write off £3.»,i)(>(> for assets in centres depending on copra production. If thin us did not improve a s»nnlar amount would have to be provided next year if possible BANK EARNINGS FALL NATIONAL OF AUSTRALASIA The National Bank of Australasia, Limited. shows a fairly sharp recessioni in net profit for the year ended March 31. lne profit of £801,'20(5 te a decrease of £'.>l,Boo. An unchanged dividend of (5 per cent requires £BOO,OOO. Allocation to writing down premises is £'20,000, against £« >O,OOO ift i recent years. The carry-forward is reduced to £148,577 from £102.282. An increase of £40,1(50 in gross earnings was outweighed by increases of £20,030 in expenses and £71,034 in tax provision. Deposits rose by ,€'2,153.000, while advances expanded by €570,000 Assets rose by £1,057,000 to the record level of £00,100,000. DIVIDEND PASSED "STATE TAKES ALL PROFITS" Income of £21,012, the highest since 1031. is shown by the Equitable Building and Investment Company of Wellington, Limited, for the year ended March 31. However, the directors state that the operation of the Finance \ct (Xo. '2). 1010. not only takes all (he profits for the year, but also an additional £-1805. resulting m a loss ot tins amount. . , . „. ~ Urgent representations have been made to the Government to obtain relief, and the matter is sfill under negotiation. Other measures are also under consideration by the directors, and as soon as it is known definitelv what reltef, if any. will be Kra "!™ bv the Government. such appropriate action as h possible will be taken. The directors regret that they cannot at this stage recommend the declaration of a dividend. Front last year was £l2ll and dividend » per cent. FOREIGN EXCHANGE Closintt telegraphic rates for purchases and «ales of foreign exchange Auckland on oversens centres on Saturday were supplied by the Bank of New South Wales as follows: — May 17 T.T. T.T. Buying Selling New York. dol. to t . 8.2512 8.2050 Montreal, dol. to £ . . 8.0030 8.5200 Java, n. to .C .. • • 0.157 .00; Manila, pesos to £ .. 0.11-1-Hongkong, pence to dol. 18% India, pence to rupee .. 22 .»-32 22 2.1-3- ; Ceylon, pence to rupee . 22 5-82 22 2.5-..2 ' Shanghai, pence to dol. I Singapore, pence to dol. 31-11-01 3->3.)-f>i IS. Af., £X.Z. 4'S.A. 100 128 125/5/1 London, I'N.Z. est. 100 121/7/0 12. > Australia. £A. £N.Z. 100 100/10,'- 1W | Fiji. CF. t'N.Z. 100 . . 90 SB/12/6 I QUOTATIONS IN LONDON | LONDON, May 10 ' Foreign exchange rates are:—-New York (dollar), -1.03; Montreal (dollar). -1.-15; Switzerland (fr.), 17.35; India (rupee) 19 Ir» 31 -32(1; Honßkoiip (dollar), loci; Kobe j (yeru, H]/ 4 (\; Shanghai Cdollar), 3 5-1 fid; j Argentine (pesos), 17.043; Stockholm (kr.). ! 10 90. SHAREMARKET INDICES London Financial Times (1926 equals 100); Govt. Home Indus- Gold ' securities rails trials mines ! l-MU fhish) . 111.7 55.2 101.0 200.-1 ' 1!110 flow) .. 101.S 81.0 01.1 138.8 ! Mj,v i:( , . 113.3 15.4 B<i.O 1H0.5 i Mav 14 .. 1 13.2 -15.4 Hl. l 171.8 May 15 .. 113.1 15.5 SC.B 1-1-8 New York Dow .Tones' (192(5 equals 100); oi) Kails 30 Indnst. Shares sold 1010 (liiirh) 82.07 152.50 1010 (low) . . 22.15 111 .X 1 \fnv 11 .. 2N.27 117.01 820.000 \I.,V 15 .. 27.77 115.73 500,000 May 1(i .. 27.0-1 115.80 202,000

COMPANY EARNINGS A net profit of CI 11.732 is shown by Antlinnv Ilordern and Sons, Limited, Sydney, for tin- year ended February 20, against tllo.9so'in I«» 10. Ordinary dividend rate of per cent, unchanged. requires t'02.500. The for the preference dividend of .£•"> 1 (is ;id per cent is f; 13.594. The carry-forward is increased to riluMir. from {.'23,457. Dentnl si ml Medical Supply Company. Limited. Wellington, earned a net profit of in the year ended March 31, apainst CHI so a vear ago. An nnchaneed diviilend of 5 per'cent takes C 2890. The year is described as satisfactory. Mules increased and stocks were built, up substantially. CANADA'S MINERAL OUTPUT Value of minerals produced in Canada during 11(40, at, £ 142,857,.14:?, established a new record. This compares with a total value in 1015 of £3}1.'142,857. The two previous iiiwhest flsjnren were €135.000,571 in 4039 and 1130.074,000 in 1037. The increased output is attributed to the pressure of wartime demands. Value of ROld produced was more than i' 57,142,857, awlnst £52.571,428 in 1930. SILVER AND TIN VALUES LONDON, Ma.v 10 Silver Is quoted at 23Vkl a standard ounce and 25% d a fine ounce, nftninst 23 7-K.id and 25 5-1 (id respectively yesterday. Tin is n shade weaker. Spot: Buyers. £2BB 10b a ton; sellers, .£2OB 15s. forward: Buyers. £207; sellers. £207 ss. LONDON COMMODITY LEVELS (Heed. 8.10 p.m.) LONDON, Mny 37 Fridav's closintr commodity prices wtrc— - Rubber: Para, HiVW per lb; plantation and smoked. llVid. Turpentine, <l*s Od P" cwt. The price of linseed oil is still fixed at 41s lV»d per cwt. WHOLESALE EGG PRICES The Auckland Egp Markctinu Committee advises that (here is no change in the wholesale price of efrsf. standard lien beins? 3s 11/ adl l / a d a dozen and largo duck 2s 11/jd, with usual differentials. CALL and dividend list Dividends - 1 - ) " 0 N.Z. Newspapers— F'.,. 8d .. . • May 21 K.Z. Paper—F., 1 p.c May 2 Lewis Eady -F.. ord., 4 p.c. .. May 23 Kntiieri —fifth, 1s . . .. •• May _4 Dnlgetiy—l., 1/JOM, rlr. net . . May 2, fiwan Brewery—ord., (id, plus Id bonus .. ... , •• May 28 Donan:!iy"s Pop" l —F.. 1/3 . . • • May ~8 Broken Hill Pty—half-yearly, Od May 28 Nut. Bank A'asia—F'., 3 p.c. .. May 28 Tut Brewery- Od .. .. .. May 28 Dental and Medicalss p.c. pa. .. May 20 Bank N.S.W. —1., qtly., «s .. May 20 Nib. Roller Mills—s p.c May 2!) Kauri Timber —1., 2% p.c. . ~ May 30 Martha—F„ Od stg May 30 Westport Coal- F., Od . . .. May 30 Tariiijramulu Timber—T., 3 ,/ '. p.c. May 31 F,„ s. and A. Bank—l.. 3'4 p.c. (less ILK. tax 7s in I'D .. May 31 Partners' Trad.—half-year, A and B pf., 5 3-5 p.c. p.a.; C pf.. 5 p.c. p.a May 31 Henry Jones —L, Od a share .. .Tune 2 Taupiri Coal—l/ 3.. .. .. .Tune o McKenzie's P., 5 p.c. .. .Tunc 0 Dunedin Stk. Fxchunce —1., Is .. Lolomals -Tune 0 Mounl Lyell—l., Od .. .. .lune Hi Btoken Hill South—l., Is . .. June is Bank a m*. £*»« 2° A.C.T. —F., pf. and ord.. *r/ 3 k*. June 2.j Wilsons Cement —F., -Had . .. Juip 2.i Nth. Broken Hill —Is • ■ ■ • -Time 20 Emperor—tenth, 6d . , . . • June Imp. Chemicals (London)—F„ 6 p.c. (actual) / Jnly 1