STOCK EXCHANGES

New Zealand Herald, Volume LXXVIII, Issue 23996, 20 June 1941, Page 3

STOCK EXCHANGES

YESTERDAY'S SALES

RETURN ON INVESTMENTS

In the following list of yesterday's sales, yields allow for exchange ami British income tax where necessary, and, in the case of loans, fcdeniption and brokerage, hut no allowance is made for social and national security taxes on dividends on which these are pay a hie:-

Also. Reid .Kijhfoer (rights), LM 10(1, 3s. Wellington.—Stock, ir,/2/48-10, 4, £.1012 If.*; Bank JS'/S.W., til! 10s; g Union Bank, £<) 10s 3d; 1 ■ <lt and Textiles, 41s; Colonial Surcar, f.">3; (J. .1. Coles, O'-'s; Electrolytic Zinc, tit is; Taranaki Oil, ss; Woohvorths (Syd.), 10s t~); H;irr.vimvn Gold, 10s. Unofficial list: National Tobacco," 31s.

Christchurch. — Kaiapoi (7s paid), 4s 11(1 X.Z. Breweries, 31s (id (3); Colonial Sugar, .L's3 Wilsons Cement, 18s fid.

Dunedin. .Stock, :?(>/.) I AIM, 4, ,€lOl ss; Trustees Executors (ex f 11v.), Sis (id, His; N.Z. Breweries, 31s (id ('_!); Colonial f>.3 t'j); Wilsons (demerit, 3Ss f.d; Taranaki Oil Developments, 2s. ('Sales after hours on Wednesday. fPrevious sale cam dividend.

UNOFFICIAL LIST Whakatane Paper

ford.) . . . . 0 2 8 0 4 0 Una ] J ill . . . . 0 0 11 0 1 0

BUSINESS IN AUSTRALIA EASIER TREND IN SHARES (Reed. 5.30 p.m.J SYDNEY, Juno 10 Although strong advances worn made in Commonwealth Bonds, other sections of the sharemarket, wire quieter than yesterday, with an easier trend. Sales included: —(!oltisbrongh Mort, *j.7s .'M; Australian Gas A, fx;.-, (Ul; Carltori Brewery, (ids .'id; Toolieys, 'jsk 3d; Tooths, "ids .'id: Anthony Uordern, t:is Id; A.C.J ~ ■ 1:s ,",d; Broken Hill Pty., ;«»S ;j«i ; ditlo (eon.), ; Durilop I'erdriau, 2<ls 0(1; General Industries, 17s :sd; (J. J. Coles, ."ids (id; Morris Hed.-trom (ex div ), 10s fid; Taubm,ans, -IS Oil; Kelt and Textiles, 3,ss; Henry Jones. 17s; Placer Development, (its. Melbourne business included:—National Hank A'asia (.Co), XT> 12s; Dalgcty, £"> IOs; G. J. Coles, (ids; Gordon and Gotch, 37s Od; Yarra Falls, 428 (id. LONDON STOCKS FIRMER LONDON, June l(i The freezing of German and Italian assets in the United States and the war news from Syria and Libya stimulated Slock Exchange markets, says the financial editor of the Daily Express. Prices improved in practically every section. The outstanding movement was a further rise m British funds. 1 Old consols sold at ,€7O 12s (3d, the highest level since 1037. Buoyancy of British funds is attributed to a belief that a new Government loan is being prepared.

London market rumours last week suggested an early 2V„ to 2"', per cent war loan, with currency of iron! seven to ten years. A longer dated 2Z 3 per cent issue was also believed possible.

RECORD A.C.I. PROFIT

NET EARNINGS £403,495 A record profit is announced by Australian Consolidated Industries, Limited, for the second year in .succession. Net earnings for the year ended March 31 were £ 10-'i,495, compared with the previous record of £'351.039 in 1939-40 and with £324,511 in 1938-39. The ordinary dividend, as already announced, is raised from 7 to 8 per cent. Profit of A.C.I. Ltd., and its subsidiary companies for the year is disclosed at £-189,652, after eliminating equity of outside shareholders. This compares with £433,271 in the previous year. Profit is struck after providing for taxation (the amount is not disclosed) £241,5.1(5 for depreciation, against £295.550 in 1939-40, and £33,762 directors' fees and salaries, against £31,430. The company and its subsidiaries show for the year a gross profit ol £721.404 from trading, against £714.298 in the previous year; while income from investments is shown at £ 15.004. aaainst £19,146.

Tlie pa rout company's dividends of 9 per font on preference shares. and S JUT cent on ordinary shares. require £33. >.753. Tito sum of £SO,OOO is transferred to iTfticral reserve, and £23,395 is transierred to the ex-Australian income appropriation account, leaving £127,525 to he carried forward in the profit and loss appropriation account, and £9. in the ex-Australian income appropriation account.

Of tlte profit of the parent company, £•132.(i>2 is derived from dividends and interest, from the subsidiary companies, ap-ninst £305.304 in 1939-10, and £25,549 from rents and sundry income, compared with £18.4(30 in the previous year.

STOCK IN THE WAIKATO

BUSINESS VERY BRISK Business continues brisk in Iho Waiknto slock markets and there lias boon tin improvement in some sections. Dairy cattle comprise the bulk of llie entries at most of the yard sales ami where Rood quality is offering the market remains buoyant. Largo numbers of clearing sales are still being held and recent firm rates have been fully maintained. Only small entries of yearling Jersey heifers are coming on to the market and only limited numbers are offering in the paddock. As in the case of dairy stock values for this class remain very firm. There is still a keen demand for slatioa-lim! store cattle, but here again only small lines are offering and prices for good cattle lend to firm. Smaller entries of boner cows continue to sell readily at recent firm quotations. The inquiry for store sheep lias also become keener with a resultant improvement in values. At a recent King Country fair yminer breeding ewes were particularly keenly sought, while good five-year ewes also sold readily as did white face hoggets. Beef, The market for fat cattle lias shown a firming tendency at some centres tli!'. week. Smaller entries of heavy second quality cows are now being penned at some (if the country sates and this has been partly responsible for the improved rates obtained. An average entry of mixed quality ox beef was penned at the central yards on Tuesday. Competition was steady throughout and a firm sale resulted. Cows and heifer-; were penned in full average numbers and here again the quality was rather mixed, but on the wdiole values remain fully firm. Prime runners and verilers also elicited keen competition, with a (op price of tils. Mutton, l-'at sheep met a lighter sale at the central yards on Tuesday. The yarding included only a small proportion of heavy welhers, the majority bring light to mod ill in weights. Kwes were also penned in good tl li in Iters. Competition for all prime sorts was keener throughout and prices advanced by Is to '.ls a head. Fal lambs again sold readily at very firm rates. Small yardings at the country sales also met. with keen coin petition at central yard rates. Pigs. Smaller yardings of fat pigs are now coming forward at most centres. Com petition fur all prime liens is keen and recent firm rates are fully maintained. There is also a keen demand for choppers for the local trade at prices very favourable to vendors. Medium entries of stores and weaners usually sell at recent quotations, while at some sales good quality young breeding sows have realised advanced rates. VALUES AT PUKEKOHE High prices were realised for a large yarding of dairy cattle at the weekly stock'sale at Pukekohe yesterday conducted by Alfred Bnekland and Sons, Limited. A large, entry of fat. store and boner cattle also sold readily. An average yarding of pigs was cleared at good prices. Xo heavy baconers were penned Dairy cows made .I'M to e 1 r.; dairy heifers, to M l I OS; light fat steers. i. : !t 1 r,s to I to los; fat cows and heifers, £5 5s to IS 17s (id; billable Jersey cows, I',"> to (.'(! Io.s; boners, xo ,v. to '..'s (id; baconers, £•:< .">s to At; porkers, ft i'_'s to ,e;t; choppers, CI Ids to fa; stores, CI to ,C 1 10s; slip?, 14s to 19s; wcaners, 10s to 16s; sows, due to farrow, £4 :10s; sow and Jitter, £6 ss.

AUCKLAND EXCHANGE Sale I' rice liisr or Yield t; c d 1 all ij d lids.. 1 .-,/•>/.! :j. •Ki, 1 . . IO ! j 10 0 -Jfls 3 2 10 Stk.. ■1H, -I . . ! rrj 1 o 0 — i Os r-s '2 ID Amal. Hk. (Ak.), l/.'S/d 1, (i . 101 in 0 ta 4 Bank A'asia 8 7 r; -8s fid -1 5 0 Jiank N.rt.W. i>7 Id 0 4 7 3 Bank :\.Z. . i Hii 4 8 0 Ditto . . 1 it'; 0 -Id -1 8 11 Nat. 3 ns. <'l) 0 is r; ,1 1 J N./j. Jnscc.. ;; ;; (> — 3 3 0 Doni. Brow. ford.) . . 1 S 0 — r, 1 5 N.Z. Brrw. . 1 1 1 (» ■ ,j 15 3 Fanners' Trad. 0 1 !> < i +1 d 7 7 4 Tilr. Oil Fields 0 r, o — Nat. Fieriric, 0 in !) — 7d 0 1 (J W'wtlis (N.Z.) 0 i:i 0 t 7 8