STOCKS AND SHARES

New Zealand Herald, Volume LXXVIII, Issue 23994, 18 June 1941, Page 3

STOCKS AND SHARES

THE AUCKLAND EXCHANGE STEADY LEVELS RULING A steady tone with a good turnover was maintained on the Auckland Stock Exchange yesterday. Good supplies were again olf-jring and the market was tested in a number of stocks which had not, been available for some time. Very strong levels ruled for gilt-edged issues and insurances also were active at: current values. Late rates ruled for industrials, while in tiie mining section -Mount Lye!ls advanced.

GOLDSBROUGII MORT EXPANSION OF EARNINGS A net profit of £205,126, an increase of £4OOO, lias been declared by Goldsbrough Mort and Company, Limited, Australian pastorn lists, for tho year ended March 31. A sum of £10,073 was allowed for depreciation before the profit was struck. As has been announced, the dividend was raised from 6% to 7 per cent (final 5 per cent). Results for three years are: — 1930 19-10 19-11 Brt. forward £118,301 £122,031 £157,397 Net profit .. 120,227 201,300 205,-126 £238,531 £323.397 £302,823 Prov. fund . . 8,500 10.000 12.500 Dividend, p.c. -Hi OVa 7 Amount .. 108,000 150,000 108,000 Car. forward £122,031 £157.397 £182,323 The capital of tho company is £2,100,000 in i'l shares. lIIGII DEATH DUTIES CARE NEEDED WITH WILLS Special reference to high death duties and recent legislation affecting deceased estates was made by Mr. Edgar Hazlett. chairman of tho Perpetual Trustees Estate and Agency Company of New Zealand, Limited, of Dimedin. In his address to shareholders of that company Mr, Hazlett said: "Because tho death duties have to be paid within a few months of tho decease, the executors find themselves forced to realise tho more readily saleable and attractive assets. This has the effect of leaving the estate with the more doubtful or perhaps unsaleable assets with which to earrv out the trusts of the will. "After the duties have been paid, the legacies, if any, left by a testator, have to be paid out. Again, unless there are special directions in the will that tho legacies are not to be paid immediately, the best of tho remaining assets may have to be sold. Greater car 6 and thought have, therefore, to be given in these days, both by testators and their legal advisers, as to the constitution of the assets of the estate in question, and as to whether legacies should be bequeathed, and, if so, when they should become payable. No doubt tho chief emphasis "ill be required to bo placed on the testators' duty to the members of his own family to make sure that their interests may not be jeopardised." CANADIAN OIL RECORD Crude petroleum production in Canada set a new record in 1910, with the output estimated at 8,700,000 barrels, compared with 7,820,301 barrels in 1939. About 90 per cent of the output came from the Turner Valley fields in Alberta. Although Canada's production of crude petroleum falls short by ,-i considerable margin of the domestic remiirements, the steady increase in the out put of the fuel is reducing the Dominion's dependence on foreign sources of supply. RABBITSKIN VALUES (0.C.) DUNK DIN, Tuesday The offering submitted at to-day's sale of rabbitskins was approximately 75 tons. Conditions lately have hampered trapping and poisoning operations, especially in Southland, with the result that deliveries have been on tho smaller side. There was again an exceptionally strong demand for all grades and descriptions, and llie offering was sold readily at values considerably higher than last sale's fjuola I ions, llatlers appreciated on average by (id per Hi. while furriers' grades were better by 9d to 12d per lb. Exporters bid keenl,\ and. as iiMial. took the bulk of the offering, with New Zealand manufacturers operating «m lots suitable for their trade. First winter bucks sold to !09d; first early winter bucks, to Mild; second winter bucks, to 158 d; first winter does to 150 d; second winter I does, to 1 39 d; first incoming, to 113 d; I spotted winter bucks, to 142 d; spotted winter [does, to 119 d; furrier does, to 132 d.

CLOSING QUOTATIONS Buyers Sellers s d X' s d BANKS, INSURANCE AGENCY Rank Australasia 8 5 0 8 10 0 Com. Bank Aust. . 0 13 8 0 14 0 Ditto (pref.) . . s 15 0 — Nat. Bank N.Z. .. 1 12 ;i 1 14 0 Nat, A'a.sia (tan.) __ 5 17 0 Bank N.S.W. 27 () 0 __ Bank N.Z. 1 n; 0 1 10 3 Ditto (D Mort.) 1 7 i; — Union Brink li s it __ National Jnsco. 0 18 0 .18 H N.Z. 1 ns u ra ii co 3 3 0 3 •1 0 South British 2 12 (i 2 12 9 Standard J usee. 3 0 0 3 1 ti Dom. I. & Ii. Assn 0 17 3 — F.A.C. (X'l fiaicij . 0 10 — N.Z. Guarantee .. «) 1 11 0 2 0 Trad. Finance (con.) 0 2 0 0 3 :i United Bids. (Auek.) 0 17 0 — COAL, GAS, SHIPPING I'ukerniro 0 10 (1 Tanpiri (ord.) I 0 (i — Ditto (prcf.) .. 1 3 0 — Wot port 1 2 9 1 3 0 Auckland Gas <1 7 n r, 0 Ditto 'roii.) 0 2 0 0 3 0 i 1 ud1 'arkcr ford.) __ 2 r, 9 Xort !i i-rii Strain u 3 (i 1) 0 Di; l'i icon, i . . 11 (i i, II i 0 1' and (I. ulcf.) 1 0 ''iiii.n Stfam . . ■ 1 7 f, TIMBER, WOOLLENS, BREWERIES National Timber . 0 0 0 <1 7 0 Kainpoi (paid) 0 15 0 0 in 0 Ditto (con.) 0 4 0 0 5 3 Wellington — 0 17 0 Ditto (prcf.) .. 0 15 0 — ('arlton Breweries . 3 0 0 — Doin. Brew, (ord.) . I 7 0 1. 0 0 Ditto (pref.) .. 1 8 0 — N.Z. Breweries . . 1 11 0 I 12 0 Tooth's — o 14 0 MISCELLANEOUS A.C.I 2 4 0 — Ditto (con.) 1 16 0 — British Tobacro .. o 4 0 o 0 0 Broken Hill Ply. . *_> 2 0 2 2 9 Ditto (new) 1 0 — Colonial Sugar 52 10 0 53 5 0 < 'on. Brick 0 0 4 0 0 0) Donaghy's ft ope .. 2 1'J 0 Klectro. Zinc 2 14 0 — Ditto (pref.) .. 2 15 0 — Farmers' Trading . 0 IS .1 1 0 10 0 (r. J. Coles 3 1 9 3 o 3 l.C.I. (pref-.) 1 3 0 — McKcnzies . 2 1 0 — Mucky Logan 1 0 0 1 1 6 M. and C (prcf.) . 1 0 0 — Ditto (B prcf.) 1 1 0 — Motnroa Oil 0 Q 3 0 4 0 N.Z. Fertilizer — 0 10 3 Ditto (pref.) .. 1. 1 6 1 2 9 N'.Z. licfrig. (yd.) . 0 17 0 0 IS 3 Ditto (con.) — 0 7 3 Peters Jen (N.Z.) . 0 1 1 9 0 13 0 Radio (1930) 0 12 0 0 15 0 1;eid Rubber 1. 4 3 1 5 0 Ditto (rights) . 0 2 0 0 2 8 0 Sanford (ord.) 0 3 0 0 4 'Paranaki Oil Develop. () 1 9 0 2 0 Taranaki Oil Fields 0 4 9 0 5 0 Union Oil 1 5 0 — Wilsons Cement .. 0 18 5 0 18 7 Woolwortbs (N.Z.) 0 12 0 0 13 o Ditto (Sydney) . 0 15 9 0 10 \ Whitcombe & Tombs 3 5 0 3 8 0 MINING Martha 0 7 6 0 8 0 Waihi Invests. 0 3 9 •— Broken Hill South 1 4 0 1 5 0 Kmperor 0 11 0 -— Mount Lyel! 1 (5 0 1 6 (i 0 Mt. Morgan (ord.) . 0 8 9 0 9 N.Z. GOVT. LOANS Bonds— 15/1/53-57, 3 l /a . 101 10 0 0 15/2/43-40, 4 . . — 103 0 15/4/40-10, 4 .. 103 0 0 — 15/0/52-55, 4 . . 101 15 0 — Rural — \ 5/0/47, 4 102 10 0 — War Loan, 1/10/53 S3 7 6 83 12 6 Stock — 15/1/53-57, 3/j . 101 10 0 — 0 15/2/43-40, 4 .. J 02 0 0 102 10 15/4/40 40, 4 .. 103 15 0 104 0 0 15/0/52-55, 4 . . 105 0 0 10 0 30/11/48. 4 .. — 104 S.A.C. — 1/0/11, 3% 08 0 0 — DEBENTURES Auck. E.P. Board, 15/0/50 107 10 0 108 10 0 Mt. Eden Boro., 0 0 1/4/53-58 305 0 0 107 Ditto, 'liini .. 10-1 0 • 0 105 10 0 Auckland Gas (perp.) (ex int.) 93 0 0 —~