COMMERCIAL

New Zealand Herald, Volume 79, Issue 24302, 17 June 1942, Page 5

COMMERCIAL

AUCKLAND EXCHANGE MARKET STEADY AND FIRM A steady demand continued on the Auckland Stock Exchange yesterday with values, generally, showing little change. In insurance, South British had business at nos, unchanged, more being available at that figure, while Nationals at 18s 9d showed a rise of 3d. Northern Steamship improved with late sales from Mond ay at 4s 6d. Dunlops had their first sale since the beginning of the year, registering at 17s, a drop of 3s.

CLOSING QUOTATIONS

YESTERDAY'S SALES RETURN ON INVESTMENTS In the following list of yesterday's yields allow for exchange and British income tax where necessary, and, in the case of loans redemption and brokerage:— AUCKLAND EXCHANGE Sale Price Rise or Yield £ s d Fall £ a d Stock, 15/2/4346, 4 . . 101 0 0 +5/- 315 0 Sth. British 2 1.5 0 +2 14 6 Nat. Insce. . 018 9 +3d 4 0 0 Aust. Iron . 15 3 +3d 5 18 9 North. Steam §0 4 6 +3d 7 6 S Berlei (N.Z.) 3 8 6 Col. Sugar . 45 0 0 Dunlop 017 0 -3,/- +5 17 6 Farm. Fert. . 0 17 O +3d 7 12 Sanford 0 4 4 Wellington.—Sßank N.Z., 38s Id; 1.C.1 (pref.), 21s. Chrlstchurch—Otorohanga Town Board, 1/5/60, 4. £106; Kaiapoi Woollen. 19s fid; N.Z. Breweries. 30s 3d; SBroken Hill Pty., 365; Dnnlop Rubber, 17s (2}. Dunedin.—Bank N.Z., D mort., 29s 9d; N.Z. Paper Mills, 31s 9d. +Based on interim dividend at Tate per annum. {Sales after hours on Monday. ACTIVITY IN SYDNEY (R«c,d. 9 p.m.) SYDNEY, June 10 The sharemarket, within the officially prescribed limits, is strong and fairly active. Leading industrials all came in for strong inquiry to-day. Sales included: —Bank New South Wales, £25 Is; Burns. Philp, 425; British Tobacco, 35s 3d; Tooths. 43s 3d; Dunlop Rubber, 17s; A.C.1., 37s lOd; Woolworths (New Zealand), cum. dividend. 13s; Broken Hill Pty., 31s Id; Placer De'velop--1 ment, 30s 9d. I

NEW ZEALAND BREWERIES DECLINE IN NET PROFIT The accounts of New Zealand Breweries. Limited, for the year ended March 31, show a net profit of £103,945, compared with £120,339 in the previous year. The profit is struck after providing for depreciation, beer duty and taxation. The amount brought forward was £22,915, giving a total of £126,860. From this is deducted £57,237, the interim dividend paid in December, leaving £69,623 available. The directors recommend a final dividend of 2% per cent, making 6 per cent for the year {last year 7% per cent), requiring £40,884, the balance of £29.739 to be carried forward. Dividends paid by the company's subsidiaries have been placed to the credit of the profit and loss account. Gross profits are shown at £730,334, compared with £718,910 in 1940-41. The balance-sheet shows paid capital unchanged at £1.635,379 and total assets at £2,705.323 are £14,782 higher. On the liabilities side creditors, at £112,876, are £31,960 higher and the bank overdraft, £243,562, is £."5000 lower. On the assets side land, buildings and plant account for £1,362,696, furniture, etc., £108,955, stocks, £183,936, shares in subsidiary companies, £35,000, investments and advances to the trade, £684,848. The retiring directors. Messrs. E. T. Chrisp, A. T. Donnelly and R. C. B. Greenslade, are nominated for re-election.

GERMAN BANKING EXTENSION OF CONTROL Officially encouraged penetration of the leading German banks into conquered territories is proceeding at a rapid pace, says the London Financial News. This penetration assumes three forms. First, there has been a strengthening of the financial position and influence of the banks in invaded countries which were largely under German con trol before the war. In addition, new affiliates have been established by the German banks in German-controlled territories. Finally, participation in leading local banks has been secured. The combined effect is the establishment of strong German influence in the banking systems of the occupied countries. On the Continent banks generally have a greater say in industrial matters than those in Britain. Thus, German banking penetration means the acquisition of control over tho industries of conquered countries. Beyond doubt, before long most banks of any importance in conquered countries will be under the control either of the Deutsche Bank or the Dresdner Bank —or pSssibly some of the lesser German banks which aro also active in penetration into conquered countries. All this is part of the German policy of making Berlin an international financial centre. GOLDSBROUGH MORT A net profit of £102,991 has been declared bv Goldsbrough, Mort and Company, for the year ended March 31, compared with £205,420 for the previous year. A sum of £."50.407 (last year £-10,073) was allowed for depreciation before the profit was struck. The amount brought forward, £182.323, gives a total of £285.314. Tho directors propose a final dividend of 3 per cent, making 5 per cent (last vear 7 per cent), for the year, absorbing £120,000, leaving £105,314 to be carried forward. MINING YIELDS Austral-X.Z. Mining (Otago).—Four wwks ended June 13: 49Goz; 229,000 yards; 447 hours. Barrytown Group (West Coast). —First half of June: Barrytown, 2300z: 00,000 yards; 187 hours; Kanieri, 44,*>oz; 110.000 yards; 210 hours; Arahura. 5750z; 100.000 yards, 249 hours. Maori Gold (West Coast).—32 ,/ a oz; 12,000 yards; 130 hours. Argo (West Coast). —Week ended June 13: 290z; 9000 yards; 114 hours. DIVIDENDS DECLARED Blackball Creek Dredging (West Coast) has declared a sixth dividend of 10 per cent, requiring £IBOO, Snowy River Dredging (West Coast) has declared a second dividend of 10 Iter cent. MANAWATU ONIONS (0.C.) PALMERSTON NTH., Tuesday Onion-growing at Opiki and Bulls has an annual output of about 2000 tons, but (his year, partly on account of heavier requirements within New. Zealand and partly because a determined effort is being made to maintain the high regard in which the onions are held in Australia, there are none being exported The season immediately past was unfortunate in that smut made its appearance. Securing an export licence would have been difficult, but once it was seen that smut was present in the crops a decision was made to discard any aims to supply an export market for the present.

Buye r? Sellf trs £ s d £ 8 d Com. of Australia 0 13 . 11 National of N.Z. . 1 18 3 New South Wales . 27 10 0 New Zealand 1 18 3 1 18 •■: Do. D Mnrt£. . 1 0 0 1 10 <>' Union of Aust. . c, 1 t 0 7 0 0 National Ins. ., l) 18 ft Xew Zealand 3 4 0 South British •_' 14 9 2 15 0 Farmers' A net, .. t 5 0 (ioldsbroiijrh Mort . — 1 6 6 United Build., Ak. 0 If) 3 I 0 3 Piikcmiro Coal . . 0 17 3 0 17 0 Westport, IDs f.p. . 3 3 f) 1 5 0 Wstpt.-Sttn-tord.) . 0 2 7 0 2 11 Auckland Oas 0 6 6 0 0 6 Do (Con.) 0 2 fi 0 2 Northern Steam . 0 4 3 Kauri Timber f) 19 6 1 2 0 Kaiapoi (Contrib.) 0 6 9 0 7 P, Oaniaru i 1 0 Timaru 0 18 9 Dominion Brew. . I 8 n New Zealand 1 0 9 1 10 9 Aust, I. A S. 1 4 10 1 5 6 Broken Hill Pty. . 1 14 6 Colonial Siisar 4 1 15 0 45 10 0 Dunlop F;tiol)er . . 0 16 " 0 18 0 Farmers' Trading . (1 19 8 — Gear Meat 0 15 6 Macky Logan 1 o 6 1 8 0 M. & C. (Deb. Stk.) 0 17 0 Morts Dock 0 16 9 N.Z. Fertilizer 0 16 6 0 17 8 N.Z. Forest, pf. . . 0 8 ft N.Z. Newspapers . 1 10 0 1 11 0 Keid Rubber 1 1 6 1 2 G Sanford iPref.) .. — 0 19 3 Union Oil 1 6 8 1 7 8 Wilsons Ora. " 15 3 0 16 0 W'lths fN.Z.) ex rllv 0 12 7 Do. Prop, ex div. 1 2 6 — Do. (Syd.) 0 14 3 0 14 6 Martha (1 7 n Mount Lyell 1 3 6 — War Loan, 1 ,'10.'53 fill (p 0 91 0 0 Do. 1/8/51-5.1, 3 08 0 0 100 0 0 Stork— 15/9'57-«0, HV t . 101 0 0 101 10 0 15/1/53-57, 3% . 103 0 (i 103 15 0 22/5/60, 3Va • • Kio 17 C lui 5 0 15/5/49-52, » . . mi 5 0 105 0 0 Ak. H.B., 9/7/44 102 10 0 103 5 0 Ak. Gas, Perp. Deb. 81 0 0 82 0 0