STOCK EXCHANGES

New Zealand Herald, Volume 78, Issue 24141, 6 December 1941, Page 7

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 Rise or Yield £ a d Fall £ a d War Loan, 1/8/46, 2% .. 98 2 6 +7s6d 2'19 7 Stk. 15/5/4952, 4 .. 105 0 0 Bank N.Z. . 2 0 0 Do. (D. mort.) 111 0 N.Z. Ins. . . 3 12 0 *3 9 5 Sth. British 3 5 0 +ls *3 9 3 SF.A.C. (A pf.) 1 3 0 W'stp't Coal 15 0 +6d 4 0 0 N.Z. Brew . 110 ' 3 t 4 2 9 Tooths .. 2 11 0 -la 411 1 Col. Sugar . 50 15 0 K.D.V. (2) . 0 911 N.Z. Refrig. (con.) .. 0 9 5 Reid Rubber 18 4 W'lths (Syd.) 016 4 Wellington.—South British, 65s 3d; §F.A.C,. (A prefj, 235; N.Z. Refrigerating (con.), 9s sa; Union Steam (preO, 275; Burns, Philp, 52s 6d; Colonial Sugar, £SO 15s; jWoolworths (N.Z.), 15s 2d; ditto, 15s 2d; Wool worths (Syd.), 16s 4d. Christchurch. —Stock, 15/1/56-59, BIA,8 l A, £lOl 15s (6); National Insurance, 20s;' South British, 05s; Kaiapoi Woollen (7s), 6s 9d (2); Tooths. 51s: N.Z. Guarantee, 2s lid; Woolworths (Syd.), 16s 3d. Dunedin. —Bank N.Z., 40s; Union Steam (pref.), 275; N.Z. Refrigerating (con.), 9s sd; Westport Coal, 25s Id; Westport-Stockton (pref.), 6a lOd; Woolworths (N.Z.), 15s 3d. I Sales after hours on Thursday. 'lncludes bonus. tPrevious sale cum dividend. MARKETS IN AUSTRALIA TONE AGAIN FIRMER (Reed. 10 p.m.). SYDNEY, Dec. 5 The tone of the sharanarkot to-day was firmer in spite of the paucity of business. Sales included:—Tooths, 50s 3d; South British, 635; A.C.1., 42sj Anthony Hordern (pf.), 228 3d; Associated News, 10s 6d; , British Tobacco, 42s 6d; Newbold, 245; W. H. Soul, 675; United Provisions, 8s 10d; Adams, 15s 4d; Winchcombe Carson, 24s 9d; Loloma, 21s Gd; Mount Morgan, 9s. Melbourne sales included:—National Bank A'asia (£10), £ll ss; Broken Hill Pty.. 375; Dun lop Rubber. 23s 7d; Drug Houses, 28s 7d; Emperor, 9s; Loloma, 20s; Broken Hill South, 23s 6d; North Broken Hill. 89s. SECURITIES 'IN LONDON LONDON. Dec. 4 Quotations in London for British and New Zealand stocks compared with recent levels Nov. 20 Nov. 27 Dec. 4 Consols, 2% p.c. .. £82% £B2# £82% Funding, 60-90. 4 . 114% 114/ a War Loan, 3% .. 104% 104% 104 A British 3% Conv... 106% 106% 106% Victory Bonds .. 114 114 114 New Zealand — _ .. 1948-58, 4% .. 102% 102% 102% 1945, 3 . . .. 99% 99% 99% BANK OF ENGLAND NOTES RISE STILL UNCHECKED - FIDUCIARY ISSUE RAISED LONDON, Dec. 4 The note circulation of the Bank of England has risen a further £6,800,000 this week to the record total of £716,800,000. The bank's return is:— , ISSUE DEPARTMENT Liabilities. Notes in circulation, £716.800,000 (last week £710,000,000); in banking department, £63,400,000; total, £780,200,000. Assets. —Government debt, £11,000,000; other Government securities, £766,800,000; pther securities, £2,200,000; silver coin, nil (fiduciary issue, £780,000,000); gold coin and bullion, £200,000, BANKING DEPARTMENT ■ Liabilities.—Capital, £14,500,000; rife £3,200,000; public deposits, £7,600,000; bankers' deposits, £136,300,000; other accounts, £56,000,000; total, £217,600,000, Assets.—-Govt, securities, ; £126,000,000j advances etc., £4,500,000; other securities, £21,800,000; notes, £63,400,000; gold and silver coin, £1,000,000; total, £2171600,000. Proportion of reserve to liabilities, 32.22 per cent (last wceh, 10.44 per cent) , rate. 2 per cent, unchanged. The figures reveal a further increase of £50,000,000 in the fiduciary issue, which is the number of notes the bank is allowed to issue on documentary security. The increase, , which must be authorised by the Treasury, is the fifth since the war started. Such action has been foreshadowed by the recent records in note circulation which, in addition to the influence of other factors, is approaching its Christmas seasonal peak. The steady rise, amounting to £118,600,000 in a year, has created much co-mment in London financial circles, but only this week an official statement ngain emphasised that the rising note circulation had no inflationary implications because of the effect of wartime rationing and price control, TRADERS' FINANCE YEAR SUCCESSFUL OPERATIONS The opinion that it was gratifying to find the results of the company so satisfactory in view of the effects of the war upon the motor industry was expressed by Mr. S. "J. Harbutt, chairman of the Traders' Finance : Corporation, Limited, at the annual meeting 1 yesterday. It was increasingly difficult to ; maintain sound advances, Jbe said, but nevertheless their figures were slightly above those of the previous year. As a result of the shareholders' decision shares to the value of £BSOO had been bought. These on current quotations repre--1 seated a capital profit of from 5 to 7% per cent in addition to dividends received. A sum of £B3SO had been invested in war loans. The farm result was highly satisfactory, a profit of £550 haviiig been earned. The wool return, which in 1929 was only 10,2641b. , reached 21,8031b in 1940, The net profit . of the subsidiary, the Broadway Motor Cycle '* 'Company, was £1902. The expansion of the repair department for motor-cycles together ' with the motor-mower business had necessitated an extension to the premises occupied, la conclusion Mr. Harbutt expressed J? 1 !" Bdence in the future of the coinpany, Which was in a very sound position. He drew attention to the heavy taxation paid, namely £3673, as against £1732 proposed to be ; paid to shareholders. As it was war tame he would leave comment at that. ■ Too accounts, details of which were pubJ lished in th« Herald on November 25, were adopted. The retiring directors,. Mr. fa. J. i Harbutt and Mr. H. T, Goldie. were re- , elected. S TATTERSFIELD'S SUPPLIES 5 " 1 PROBLEMS DUE TO WAR Tne difficulty of maintaining adequate supplies of raw materials under war conditions was referred to by Mr.' P. G. Tattersßeld, chairman, at the annual meeting of Tatters--3 field Limited yesterday. The difficulties, he 1 said.' would unloubtedlf have been.much creates but for the endeavours of their manI leinl director, Mr, J, W. Tattersfield. whose efforts in securing the supply and shipment •' of goods from Britain had been invaluable. " Witl «>mo lines of mer(^n n dise, a syst«m o '• rationing supplies hadbw and ° «,heir customers, realising tJie necessity «%iirh fiction had co-operand splendidly* 1 Thn Siors were .doin* their utmost to acetyl ihft nation's war effort by inftintftinins ;3«& ii Kffiw if & s"3« pverv assistance with regard to the suppii of goods required for the armed forces. Dur ?nsr the year additions. had been made tc ii morewaFonVder. UoTffort hXbeen spared ..la u'nrVed in one department. »fS. WrSt&nM'M V E. H. Rhodes, were Te-elected. n moturoa oil profit paid on ordinary shares. Sales from oil wen £1999, an increase of £lO-!. ree J']j r a at New Plymouth produced barrel. [" (95187 gallons) of crude oil for the .year >• against 2810 barrels (98,362 gallons) in th * nrAvious vcitr. Total production to - fuiure of the company depends upon any sue • cess which may result from the operations at present being conducted by the :* New Zealand Petroleum Company, Limited. 1 —" ~ ■' r BACON CHAMPIONSHIP [ (0 0) PUKEKOHE, Friday 1 The Auckland District Pig Council is Hpon 3 soring a bacon championship, xor wnien a prize fund of £SO ia in hand.