STOCK EXCHANGES

New Zealand Herald, Volume LXXVIII, Issue 23995, 19 June 1941, Page 5

STOCK EXCHANGES

YESTERDAY'S SALES

RETURN ON INVESTMENTS

In tho following list of yesterday's sales, yields allow for exchange and British income tax where necessary, and. in the case of loans, redemption and brokerage, but no allowance is made lor social and national security faxes on dividends on which these are payable

Also.—Heid Rubber (ritflils), l's Til, 'J.s Sd, Sis !)tl, l\s Hid; Emperor, lis -Id, lis Od. Unofficial list: Walker and Hall, J.Ss. Wellington.—§ War Loan, ]/lU/sa, ,ts:s His; §,Stork, J 5/0/52-5.*), 1, 11(15; §dilto, 150/1 1/ I S I, MJ 01 ss; Bank X.Z., aos; Broken Hill South, lMs <>d; Taranaki Oil Developments, ■_!*, Unofficial list: J. J. Xiven, 8s (id

Christchurch,— L'nion Bank, ,tij lo.s 3d; Wilcox Mofflin, Ms ]o ( | r_'j; jjC'liristehureh (!»p, Is (odd !otJ; Broken JJill i'ty., 12s 3d; Beath (Is paid, lUs on depo-it), lis Gd; ■Colonial Sugar, £53 (3); W'liit coin lie and Tombs. G7s Gd; Mount Lysll, 2Gs 2d. Dunedin.—Stock, 30/11 ,■!)», 1, £lOl :>s; Commercial Bank Australia, 13s lid; L'nion Bank, £G 10s; Christchurch (las (paid), 21s; Colonial Sugar, £53; Keid übtier, 21s Gd; ditto (rights), -s 9d; Wool wort lis (Syd.), IGs. SSales after hours on Tuesday. tPrevious sale cum dividend. {lnterim dividend passed. ACTIVITY IN AUSTRALIA PRICES TEND TO HARDEN (Reed. 9 p.m.) SYDNEY, June 18 The slmrcrnarket to-day was more active than usual, with a hardening tendency. Sales included:—Commercial Banking Sydney, £l7 15s; Bank N.S.W., £2O 10s; Wilcox Mofflin (S./j. delivery), 9s; Tooheys, 28s 3d; Tooths, 50s Gd: A C.1.. 13s 3d; Associated News, lis Sd; Bonds industries, 275; Cash Orders, 15s l 1 2 d; Electrolytic Zinc, 51s; Dunlop-Perdriau, 20s l(id; Ceneral Industries, 17s 3d; Morts Bock, 19s 9d; Standard Cement, 20s; Adams, IK< 4(1; Kenown <N.Z. delivery), 21s; Emperor, 10s; Rawang. 8s 3d; Larut, 7s 3d. Melbourne business included:—A.C.l, (con.), 37s lid; Cox Bros., Gs; Felt and Textiles, 38s; G. J. Coles, GOs; United Provisions, Gs; Broken Hill Pty., 39s 3d; Emperor. 10s; Loloma. 23s 9(1; Oil Search. 5s Gd. STOCKS IN LONDON LONDON, June 17 On the London Stock Exchange quotations for bank shares and other corporation debentures and stocks are as follow, with compari-

ELECTROLYTIC ZINC ISSUE

KEEN DEMAND ANTICIPATED

The transfer books of the Electrolytic Zinc Company of Australasia, Limited, will close this afternoon for the purposes of the issue of £400,000 new ordinary capital at par. This is the company's first issue since 1922. Its capital is widely held, there being over l(i,000 shareholders, of whom half are women. It is expected that there ! tvill be a fairly active market for the rights, which have been valued in Melbourne around 27s Gd on present values. Holders of 50 shares will be entitled to 8 new shares, of 100 to 15. of 150 to 23, of 200 to 31, and of 500 to 77. The terms will provide for payment in instalments and the capital should be speedily raised. The position of New Zealand shareholders lias not yet been clarified. The Stock Exchange Association, however, has made representations to the Government to grant similar facilities to New Zealand shareholders to take up the new issue as were granted recently in the case of the Broken Hill Proprietary, Limited. Commenting upon the issue, the Herald. Melbourne, stated: —"Leakages of information. which allow a few specially-placed persons to profit by advance information at the expense of others, have from time to time been the subject of criticism. The Electrolytic Zinc directorate and officials are to be congratulated on the fact that the market, usually well primed, was taken by surprise bv the announcement of the 1 for G'i new issue. Dun lop's £300,000 offer to purchase Bar net Glass preference shares in March was another occasion when the market was taken quite by surprise; the shares rose 3s 3d. These have been two of the most- important company announcements of the year, and were two of the best-kept secrets." PRODUCTION OF HONEY PROSPECTS FOR EXPORT (0.C.) HAMILTON, Wednesday "Some of our production _ was exported last season, and provided there will be means for further exports during the coming season, prospects, compared with other industries, are finite satisfactory." said Mr. F. D. Holt, president of the South Auckland branch of the National Beekeepers' Association in liis report to the annual meeting today. Mr. Holt stated that, according to reports, there was an increase in crops during the past season. The financial position revealed a credit of approximately £lo. It was unanimously decided to support a remit to the national conference from Palmerston North and two South Island branches, that the Internal Marketing Division lie asked to pay the freight on honey from the producers' nearest railway station. Mr. It. Clark said that producers in the South Auckland area, which produced approximately two-thirds of the honey exported from New Zealand, had in many cases to meet greater freight costs than Canterbury producers. It was stated by Mr. AY. Nelson that the Internal Marketing Division paid the freight to Auckland oil produce from certain centres only, these centres being nominated by the Marketing Division. A remit from Hawke's Bay urging that necessary legislation be passed to bring about compulsory membership, was approved, seven members voting in favour of the remit, five against, and four not voting. The election of officers resulted as follows: President. Mr. F. 1). Holt; vice-president. Mr. A. Williams; secretary and treasurer. _Mr. A. E. Headman; committee, Messrs. J. W. Forster, H. Jcffcries. T. 11. Pearson. A. L. Pearson. A. It. Da vies; delegate to annual conference, Mr. F. 1). Holt. SILVER AND TIN VALUES LONDON, June 17 Silver is quoted unchanged at 23% d a standard ounce, and 25! «d a fine ounce. The market for tin is firmer. Spot: Buyers, 12(13 5s a ton; sellers. £2(13 Ills. Forward: Buyers. £205; sellers, £2GS ss. R. AND E. TINGEY, LIMITED The net profit of R. and E. Tingey and Company, Limited, oil and colour merchants. Wellington, was £17,701 for the year ended March 31, a reduction of ,C74(>5, which is accounted for by higher taxes. Fixed preference dividends of G per cent require £3OOO and an unchanged ordinary dividend of 8 per cent will absorb £7200. A sum of £l4 10 (or 20 per cent of the ordinary■ dividend) goes to preference dividend reserve, bringing it to 1.8200, and £ 13G0 is placed to general reserve, increasing it to £17,000, as well as £SOOO transferred to income tax reserve, which is brought up to £15.000. This will leave £2703 m he carried forward, against £2999 brought in. Sales again made a record. EGG PRICES UNCHANGED The Egg Marketing Committee advises that there is no change in the price of eggs, standard hen being 2s SV' 2 d a dozen and large | duck 2s 4'/ a d, with the usual differentials.

AUCKLAND EXCHANGE •Sn le P rice Rise or Yield Mf. F.drn Ho., s (1 fall £ s 1. 1/.W-5.S, UJ .. in.*, 15 0 • • • 3 13 10 1' 4 . JIW 0 0 . * 3 11 1 ! A null. Rk. (Ak.), 1/3/11, (J 1(11 in (1 + oS 0 18 •1 SCom. lik. Aus. o l.'{ 11) ■j 5 Bank N.Z. . I Hi 1 -5i 1 4 b <) S.'/,. Insce. (odd lot > . ;t :> 0 ;{ a 0 Nat. Jliscc. . 0 is 0 •1 i 1 flsSoulh British I (j 17 1 \V«|)tSt k 1 n. (ord.) . . (i ■j ( > 10 (1 0 Taiipiri (ord.) 1 1 t 17 8 JJoiu. Brew. (ord.) . . l 8 0 -lid (> 1 5 SX.Z. Brew. l j | ..... ■1 l.-j 3 SK.'on. Brick (i i; l + 1(1 Farmers' Trad, (i IS 11 7 ,s () Wivllis (S.vd.) (i J(> 0 !) Whit., Tombs :i 7 i; — •1 8 10

sons for June ;i:— June June 17 s d £ s d IBank Australasia . <i 17 (> (i 17 (i E. t S. and A. . . a •_> (! 3 o (i Union Bank 5 5 0 5 7 fi New South Wales 20 0 0 20 10 0 Bank X.Z. . J 5 0 1 r ( 0 National Bank X.Z. 1 2 <> U 1 .'1 British Tobacco . . 1 15 0 1 15 0 finldshrough Mort . 1 0 0 0 18 9 Da Ipret.v '1 15 (1 4 15 0 P. and 0. (def.) . 1 -1 !.) 1 7 7 Loan A Merc, (deb.) 72 10 I) 72 10 0 Loan & Mere, (oril.) 21 10 0 21 10 0 +Ex dividend.