STOCK EXCHANGES
YESTERDAY'S SALES RETURN ON INVESTMENTS In the 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 for social and national security taxes on dividends on which these are payable: AUCKLAND EXCHANGE Sale Price Jiise or Yield £ s d Fall £ s d
War Loan, 1/8/51-5-1.3 97 15 0 +53 8 4 7 §Stk., 15/1/56:>,V A . . 100 0 0 Bank X.Z. (2) J l!i 9 S. British (2) 3 1 3 -«d *3 13 5 K.D.V. Boxes 0 0 (i -Hid 7 7-1 X.Z. Fert. (2) 10 6 X.Z. Refrig. (con.) . . O f> 4 +Sd 517 0 Wellington.—s South British, 61a 6d; SChristchurch Gas, '23s; ditto icon.), lis Id; Kaiapoi, 17s 6d; Woolworths (X.Z.), 14s 2d. Christchurch.—War Loan, 1/8/51-54, 3, £97 12s (id; National Bank New Zealand, 395; Mount Morgan, ks lid. Dunedin.—Stock, 31/5/54-58, 4, £lO6 15s; West-port Coal, 255; Xew Zealand Fertilizer, 20s (id; Woolworths (K.Z.), 14s 2d. SSales after hours on Friday. 'lncludes bonus. MARKET IN SYDNEY FURTHER RECESSION NOTED (Reed. 8.50 p.m.) SYDNEY, Oct. 20 A continued recession in share prices was noted on the Stock Exchange to-day. Market leaders were generally not dealt in. Sides included;— Bank Xew South Wales, £25 ss; Tooths, 51s; British Tobacco, 455; Dunlop Rubber, 22s 7d; General Industries. 18s (id; Morris Hedstrom, 245; Wilcox Mofflin, 9s 6d; Broken Hill Pty., 365; Xorth Broken Hill, 43s Gd; Broken Hill South, 275. INSTALMENT BUYING CANADIAN RESTRICTIONS WAR NEEDS COME FIRST OTTAWA, Oct, 16 Under its expanded authority the Wartime Prices Board is clapping the brake on the spiral of rising prices. As a preliminary the board placed Canada's entire food and clothing trades under licence. A few days ago came a sharp curb on buying by instalment. The purpose of curbing instalment buying is to check competition between civilian demands and war requirements for the available supplies of war material. Regulations provide that over a list of articles ranging from engagement rings to domestic sewing machines a purchaser on the instalment plan must now be prepared to make a down payment of onethird the sales price and the balance must be paid in full within 12 months. For passenger motor-cars a down payment of 50 per cent is required, the balance to be paid within 12 or 18 months, depending on the cash value of the sale.
The value of instalment sales in the first seven months of 1011 was 25 per cent greater than in the corresponding period of 1940. "This expansion of instalment credit." commented the Minister of Finance, the Hon. Jas. L. Ilsley, "is an important inflationary influence under present circumstances. In times of peace a person with a few dollars to spend may he able to get immediate possession of several hundred dollars worth of merchandise by making a small down payment on each purchase. The increased purchasing power which he appears to have gained is, however, a mirage. The instalment plan has not increased his ability to buy; it has merely made it easier for him to go into debf." WOOLWORTHS _ HOLDINGS DIVIDEND RATE RAISED [BY TKLEGKAPH —PRESS ASSOCIATION] WELLINGTON, Monday The Stock Exchange has received a cable-1 gram from Woolworths Holdings, Limited, Capetown, advising that a final dividend of 10 per cent, making 15 per cent for the year, has been declared. In previous years the distribution has been 10 per cent. DOMINION PICTURES' PROFIT ORDINARY DIVIDEND OUTLOOK The accounts of the Dominion Picture Theatres Company, Limited, Auckland, show a net profit of £IBBS for the year ended September 30 against £2OOI in the previous year and a loss of £ll7 in 1939. Preference dividend of. G per cent for the year, less security taxes takes £199. the sum of £5034 being carried forward, against £3348 brought in. Taxes absorbed £1232. against £2096. As previously reported no ordinary dividend is proposed, owing to heavy taxation and the balance of the liability incurred on account of rebuilding after the fire in 1938, but the directors state that the financial position suggests that a resumption of ordinary dividends next year is a reasonable prospect, providing no unforeseen circumstances arise. SHEEP FOR THE WAIKATO EAST COAST PURCHASES (0.c.) GISBORNE, Monday Of the large numbers of sheep sold for delivery to the Waikato. some on the northern end of the east coast have commenced to move already. Many thousands of wethers for delivery off the shears were sold in the Gisborne and east coast districts, and although it is too early yet for most to be put on the road, the first line from Tikitiki, a mob of 3000, have already left. Forward buying is still being reported, while activity also continues in regard to breeding ewes. Two-tooths are mainly in demand, the older ewes being required oniy for a limited market at much lower prices than last season. A few five-year-olds have been sold at 17s and six-year-olds at 12s 6d. BROKEN HILL DIVIDEND A half-yearly dividend at the unchanged rate of !)d a share has been declared by Broken Hill Pty., Limited, Melbourne. Partlypaid shares will receive 4 1 / s (l a share. PUBLIC TRUST OFFICE Estates valued at £462.927 were accepted for administration by the Public Trustee during September. Grants of administration made by the Court in favour of the Public Trustee numbered 200, and S3!) new wills appointing the Public Trusted executor were prepared.
COPRA STOCKS REDUCED (0.C.) APIA, Oct. 12
A steady reduction of the accumulation of copra is being made. During the current quarter it is hoped to ship up to 0000 tons, while the balance of 2000 tons ordered by the New Zealand Government for pig food has been despatched- in addition to 1300 tons to the Canadian market. Largo shipments are to be macie to Mexico shortly. A rise in the copra price is forecast when stocks are cleared. Irregular shipping facilities are affecting the banana trade with New Zealand, but there are hopes of some improvement soon. TE ANGA CATTLE FAIR The Loan and Mercantile reports that at its Te Atiga cattle fair there was a heavy yarding of station-bred cattle of approximately 1200 head from local vendors. The majority consisted of stPers of all ages, and also several pens of yearling Hereford and Polled Angus heifers. Competition throughout was verv keen. Medium heavy fat Polled Aliens cows and heifers. XS 5s to £9 fis; lighter fat cows, £6 10s to XT 10s; threeyear Polled Angus and Hereford steers, £9 "liks to £9 10s; smaller, £S 10s to £9 2s; i two-year Polled Angus steers, to £7 His; two-year Hereford steers, to £7 7s 6d; two-j year Hereford heifers, £6 7s; two-year Polled Angus heifers, £5 ISs to £0 Ss; one-year Polled Angus steers, £5 14s to £5 19s; oneyear Hereford' steers, £5 12s (!d to £6_lls; one-year Polled Angus heifers, £3 15s to £3 19s; one-year Hereford heifers, £3 12s to £3 17s fid; yearling Jersey heifers, to £4 17s. flood average woolly wether hoggets, 23s to 275; smaller, 20s 6d to 235; woolly ewe hoggets, to 36s (id; medium, 2Ss (id to 31 s Gd; store four-tooth woolly wethers, 275. FOREIGN EXCHANGE Closing telegraphic rates for purchases and sales of foreign exchange Auckland on overseas centres yesterday were supplied by the Hank of New South Wales as follows: October 20 T T. T.T. Buying Selling New York, do! to £ . . 3.25-12 3.2050 Montreal, dol. to £ .. 3.6039 3.5290 Java, fl to £ .. .. 6.187 (5.00-1 Manila, pesos to £ . . 6.559 6.442 Hongkong, pence to dol. IS% 19 1-32 India, pence to rupee .. 22 3-16 22% Ceylon, pence to rupee . 22 3-16 22% Singapore, pence to dol. 34 -11-64 35 39-64 S. Af„ £N.Z. £S.A. 100 123 125/6/London, £N.Z-. £st. 100 124/7/6 125 Australia, £A. £N.Z. 100 100/10/- 100 Fiji, £F. £N.Z. 100 .. 90 SB/12/6
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Bibliographic details
New Zealand Herald, Volume 78, Issue 24101, 21 October 1941, Page 3
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1,309STOCK EXCHANGES New Zealand Herald, Volume 78, Issue 24101, 21 October 1941, Page 3
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