STOCK EXCHANGES

New Zealand Herald, Volume 78, Issue 24049, 21 August 1941, Page 5

STOCK EXCHANGES

YESTERDAY'S SALES RETURN ON INVESTMENTS In the following list of yesterday's 5 sales, yields allow for exchange and 5 British income tax where necessary, c and, in the case of loans, redemption i and brokerage, but no allowance is r made for social and national security 3 taxes on dividends on which these are 1 payable:— 1 AUCKLAND EXCHANGE Sale Price Rise or Yield i £ s d Fall £ s d Stk., 31/5/54SS, 1 .. 108 0 0 t N.A. Farmers' i (B pref.) .096 1 Pukemiro Coal 018 6 +ls Sd 5 8 1 3 G. J. Coles 3 5 6 +6d 5 610 Morts Dock . 10 6 +(id 517 1 Macduffs (pf.) 0 19 3 ... t N.Z. Fert. . 019 9 +3d 6 16 Sanford (3) 0 4 6 +3d 11 2 3 Woolworths (Syd.) (3) 017 8 +2d 419 2 Also.—§lleid Rubber (10s paid), 15s. Wellington.—Stock, 30/11/48, 4, £lO5 2s 6d; §G. J. Coles, 65s (id; Silverton Tram, 28s (id; Morts Dock, 20s 6d; §\Voolworths (Syd.), 17s Bd. Christchurch.—Stock, 15/6/52-55, 4, £107; * IBritish Tobacco, 47s (id; Electrolytic Zinc (]>rcf.), 55s Od; Silverton Tram (ex div.), 28s yd; Woolworths (Syd.), 17s 7d. Dunedin.—Stock, 15/2/43-46, 4, £101; ditto, 15/2/40-49, 4, £lO5 15s; ditto, 15/6/5255, 4, £lO7 10s; Bank Australasia, £8 J ss; N.Z, Refrigerating (con.), 8s Od; Woolworths (Syd.), 17s 9d; Mount Morgan, 9s 9d. §Sales after hours on Tuesday. {Dividend in arrears. BUSINESS IN AITSTKALIA LITTLE CHANGE IN VALUES (Reed. 9.16 p.m.) SYDNEY, August 20 Share prices to-day underwent little change. Sales included:—Bank New South Wales, £26 3s; Commercial Bank Sydney, £18; Tooheys, 30s; Tooths, 525; Associated News., lis Od; ditto (pref.), 15s iy 2 d; iA.C.I., 4Ss; ditto (con.), 41s 9d; Broken Hill Pty., 38s (id; ditto (con.), 27s 6d; Burns, Philp, 50s 9d; Claude Neon, 22s 6d; Morts Dock, 19s (id; Atkins. 225; Carpenter, 85s; Hume Pipe, 13s Id; Arahura, 255; North Broken Hill, 41s 4d; Rawang. 8s sd. Business in Melbourne included:—Commercial Bank Australia, 14s; Cox Bros., 7s; Drug Houses, 29s Gd;'Felt and Textiles, 41s; Dunlop-Perdriau, 22s lOd; Electrolytic Zinc, 535; ditto (pref.), 558; Mount Morgan, 10s; Wellington Alluvials, 3s 4d. STOCKS IN LONDON LONDON, August 19 Quotations of stocks and debentures on the London Stock Exchange compare with those of August 5 as follows: Aug. 5 Aug. 19 £sd £ s d Dalgety, 4 p.c. deb. 81 0 0 83 0 0 British Tobacco .. 1 12 G 1 12 6 Goldsbrough ilort . 0189 0189 Dalgety .. .. 415 0 4150 P. and 0. def. .. 16 W, 1 7 10% CHEESE PRODUCTION PROBLEMS OF CHANGE-OVER ASSISTANCE TO FARMERS (0.C.) HAMILTON, Wednesday "Since the introduction of the guaranteed price system, the board's work has been divided between the industrial and the political," said Mr. W. E. Hale, chairman of the Dairy Board, at a conference of suppliers' committees of the New Zealand Co-operative Dairy Company, Limited, to-day. He said the guaranteed price system involved much that was political. Mr. Hale congratulated producers on the wonderful output of dairy produce that had been achieved during the 1940-41 season. The increase had been phenomenal, and all records had been broken in practically every part of New Zealand. Many problems arising out of the war had had to be contended with. On the whole, the producers had helped with enthusiasm, although there were some "slackers." One of the difficulties met with was to secure a sufficient supply of milk cans for the cheese industry. An effort had been made by the board to secure a larger grant from the Government to reimburse suppliers for their expense in changing over to cheese, but last season's grant of £2O was being maintained. Mr. Hale said the board had received 1265 applications representing £36,321 in claims. The sum paid out was £21.526. The claims averaged £2B 14s and the payments £l7. Mr. Hale said New Zealand's objective of 160.000 tons of cheese was the greatest in the world. Canada was aiming to export 54.000 tons to Great Britain this season, while Australia hoped to increase its exports to Great Britain to 40,000 tons. It looked as though Great Britain would receive 250.000 tons during the 1941-42 season. It would be impossible for. Great Britain to absorb such an enormous quantity in normal times, and it was clear that after the war there must be a change back from cheese to other dairy products. RADIO (1936), LIMITED SATISFACTORY OPERATIONS "So much is entirely beyond the control of the management that we cannot, do more than assure shareholders that everything possible will be done to ensure their receiving a reasonable return," said Mr. W. J. Truscott, chairman of Radio (1936), Limited, at the fifth annual meeting yesterday. Mr. Truscott added that he felt shareholders would consider the result of the year's operations very satisfactory in the circumstances. "The regulation and replacement of staff have presented many difficulties," added Mr. Truscott. "Already about 60 members of our staff are serving in the services. Raw materials Jhave been difficult to secure and are likely to become increasingly so. "Throughout the year we nave provided regular employment for about 270 persons, and our weekly wages bill is approximately £1250. These factors alone should entitle us to be considered one of the many important links in the economic life of the, country, to say nothing of the fact that the operations of this small company have, per medium of income, national and social security and sales taxes, resulted in payments 'to the Government of about £33.000 during the year." The report and balance-sheet, as published in the Herald on August 5. were adopted. The retiring director, Mr. G. W. Hutchison, was re-elected. GREY AND MENZIES EARNINGS MAINTAINED The accounts of Grey and Menzies, Limited, for the year ended June 30, show a net profit of £2013, after providing, in addition to the year's charges, £450 for extra taxation on 1010 profits. The report points out that when this additional amount is taken into account the net profit shows an improvement over the previous year, when net earnings were £2995. Unchanged dividends of 7 per cent on •preference and ordinary shares are recommended, absorbing £'2134 and leaving £1472 to bo carried forward. The subsidiary company made a small profit and paid a dividend.

The accounts balance at £59,108, an increase of £332. Reserves include bad debts reserve of £SOO.

Recent results are: — 1930 1010 1941 Brt. forward . £1308 £2579* £993+ Net profit . . 3579 2998 2613 £•1887 £5577 £3606 To reserve .. 1000 2000 — Dividends, p.c. 7 pf. and ord. 8 7 Amount . 2139 2134 2134 Car. forward £1448 £1443 £1472 *Stock reserve adjustment added. tAfter £150 additional taxes for 1040. Balance-sheet movements are:— LIABILITIES Paid capital £ 30,488 42 Same ■Creditors ,. 8,02(5 +933 Mortgage -. .. 0,200 -200 Reserves . . 8,500 +2,000 Bank 2.2S8 -430 P. and L. account . 3,006 -1,971 ASSETS Properties .. 29,579 -1,148 Subsidiary .. 3,676 Same Investments . 4,002 +3,560 Stocks 16,973 -1,080 Debtors 4,Sol -999 Cash, etc. .. 27 — 7