COMMERCIAL

New Zealand Herald, Volume 79, Issue 24346, 7 August 1942, Page 5

COMMERCIAL

AUCKLAND EXCHANGE 1 " J' HEALTHY TONE CONTINUES An active demand continued on the Auckland Stock Exchange yesterday, and with more sellers, attracted Li some cases by higher buying limits, a substantial turnover was recorded. More interest was shown in the banking section and buyers for Nationals of New Zealand, raised their offers to 395, bringing in a seller at 41s. Liberty Loan 3 per cents were again traded at par, with more available at that figure. Among Dominion miscellaneous issues Wilsons Cements made another upward move with business, at 17s 3d, and buyers for Milne and Choyce's debenture stock raised their offers from 17s 3d to 17s 7d. CLOSING QUOTATIONS

YESTEKDAY'S SALES RETURN ON INVESTMENTS In the following list of yesterday's sales yields allow for exchange and British income tax where necessaiy r and, in the case of loans, redemption and brokerage:— AUCKLAND EXCHANGE

Also.—Stock, 15/2/43-46, 4, £lO2. Wellington.—Union Bank, £6 17s 6d; Broken Hill Pty., 36s (2); McKenzie's Stores, 395 ; Woolworths (Syd.), 15s 6d. Christchurch.—Guarantee Corp., 2s lid; Broken Hill Pty., 365; Andersons, Limited (pref.), 18s 6d. Ounedin.—Stock, 15/2/43-46. 4, £102; Eeiri Rubber 21s 4d. {Previous sale cum dividend. FIRMER IN SYDNEY (Reed. 11 p.m.) SYDNEY. Aug. 6 Front rank industrials led the way in a firmer market to-day on the Stock Exchange and many stocks were jammed at the fixed maximum limits. Sales included:—Bank New South Wales, £24 10s; A.C.1., 43s 6d; British Tobacco, 35s 9d; Broken Hill Pty., 31s 9(1: Woolworths (Syd.), 13s Id; Tooths, 45s 9d SECURITIES IN LONDON LONDON, Aug. 4 Quotations of stocks and debentures on the London Stock Exchange with those of July

K.D.V. BOXES The accounts of K.D.V. Boxes, Limited, for the year ended June 30 show a net profit of £3558, compared with £4693 a year ago and £3731 in 1940. As already announced, a final dividend of 4 per cent is recommended, making 7 per cent for the year, unchanged. This will absorb £2267. The sum of £3822 is to be carried forward, against £4191 brought in. The report states that the past year has been a busy one, not only in butter boxes and other dairying requisites, but also in manufacturing for war requirements. Turnover increased from £125,972 to £175.586. Taxation increased from £9357, equal to 67.47 per cent of net profits, to £14,286, equal to 80 per cent. The retiring director, Mf. P. H. Fergusson. is renominated. MINING YIELDS Grey River (West Coast). —July return, 102Soz. 363,646 yards, 492 hours; fortnight ended August 5, 536%0z, 176,347 yards, 243 hours. DISTRIBUTING TRADE Merchants report a particularly busy period this week, in spite of shortages in some lines. Breakfast foods are in very keen demand. It is expected that small deliveries of rice released from reserve stocks will be. available next week. Matches are still being strictly rationed. MEAT PRODUCTION The official figures of killings for the present season at the Dominion's freezing works from October 1 until July 18 issued by the New Zealand Meat Producers' Board, show that lamb killings to that date total 11,049,148 carcases, a decrease of 158,190 carcases compared with the killings to July 19 last season. Wether mutton killings are 759,187 carcases, and ewe mutton killings 1,960,965 carcases, compared with 615,606 and 1,560,253 carcases respectively last season. Frozen beef production is now 613,239 quarters, compared with 687,757 quarters last season. Porker killings total 199,723 carcases, a decrease of 19.065, and baconers total 220,341 carcases, a decrease of 64,754. DAIRY STATISTICS (0.C.) CAMBRIDGE, Thursday At the annual meeting of the Cambridge Dairy Company, Mr. F. H. Anderson drew attention to the method employed by the Department of Agriculture in compiling statistics on a per cow basis. He claimed that the results were misleading, Bnd as they formed the basis for the guaranteed price they were detrimental to the industry. The following resolution was passed:—"Dairy farmers' returns were falsely stated when the average production per cow was taken in .1938; returns called for annually by the Herd 'lmprovement Association in conjunction with the Dairy Board as to the number Of cows milked on January 15 are not true records of dairy production because the number of cows does not include those wintered, milked for a period and discarded before January 15; ultimately the only true basis of dairy returns is the per acre production or I butter-fat." DOMINION INVESTMENT The accounts of the Dominion Investment and Banking Association for the year ended June 30 show a net. profit of £11,658, compared with £11,565 m the previous year and £11,373 in 1940. With the balance brought forward of £9263 there, was a credit of £20,952. From this interim dividends totalling £4015 have been paid, leaving £16,937 available. From this the directors recommend a final dividend of 3 per cent, making, with the interim, 5% per cent for thes year, unchanged on A shares, _ first and second isstt B shares and second issue C shares, and 2 per cent on third issue B and C shares, mak ing. with the interim, 4 per cen f unchanged. It is also propped to add £IOOO to general reserve and to carry rorwara £11.121. The report states that the year s operations have been satisfactory. with the figures for mortgage advances, bankii net profits all moving to new high lews. After provision for final dmdendsthe including the carry-forward, will total £30.1 Ji. The retiring directors, Messrs. A. G. Lunn and C. H. Furness, are renominated.

Buyers Sellers £ s d £ 8 d Bank Australasia . 8 7 6 Com. Aust. (ex div.) 0 14 6 0 14 10 Do. (pf., ex div.) 9 10 0 ' Com. Bk. Sydney 16 0 0 — Xat. Bank N~.Z. . 1 19 0 — Xat. A'asia (pd.) 10 19 0 — Ditto (con.) 5 6 0 _ Bank X.S.W. .. 28 5 0 _ Bank X.Z. 1 19 4 1 19 6 Ditto (D Mort.) 1 9 9 1 11 3 Union of Australia 6 17 6 7 5 0 X.Z. Insce. 3 6 South British 2 18 9 3 ~0 0 Dal(?ety 6 10 0 7 0 0 Dom. I. and B. . 0 19 9 1 0 3 Wright-Step!), (ord.) 0 19 0 — Ditto (pret.) .. 1 0 0 — Renown (ord.) 0 9 3 0 10 6 Auckland Gas 0 6 4 0 6 7 Ditto (con.) 0 2 5 0 2 6 Xorthern Steam .. 0 4 9 0 5 1 P. and 0. (def.) . 1 8 6 _ Kauri Timber 1 0 6 1 2 0 Felt and Textiles . 1 14 0 — Kaiapoi (con.) 0 7 6 0 8 3 Dom. Brew, (ord.) . 1 5 6 1 6 6 X.Z. Breweries . 1 10 0 — A.C.I o 3 9 _ Berlei (X.Z.) 3 7 0 — Booth-Mac. (pf.) .. 0 5 3 — Broken Hill Pty. . 1 15 9 1 16 3 Bycroft 2 4 0 2 7 6 Colonial Susrar 47 10 0 49 0 0 Dunlop Rubber .. 0 17 0 . — Electro. Zinc (pf.) . 2 o 6 — Farmers' Trading . 0 19 3 — K.D.V. Boxes 0 9 6 0 10 6 McKenzies 1 18 3 — M. and C. (deb.) . 0 17 7 — M.K. Manufacturers 0 5 4 0 5 9 X.Z. Fertilizer . . 0 16 6 0 17 3 Radio (1936) 0 11 3 0 13 0 Reid Rubber 1 0 9 1 1 9 Taranaki Oil Develop. 0 2 3 0 3 9 Wilsons Cement . . 0 17 1 0 17 5 Woolworths (X.Z.) 0 13 11 0 14 2 Ditto (Syd.) .. 0 15 4 0 15 9 Martha 0 7 10 0 8 3 Una Hill 0 0 3 0 0 6 Emperor 0 8 9 0 9 6 Loloma 0 15 0 0 16 6 War Loan, 1/10/53 90 10 0 — Do.. 1/8/51-54, 3 98 10 0 — L.L., 15/0/47, 2Va 97 10 0 96 0 0 15/9/52-55, 3 99 10 0 100 0 0 Stock — 15/156-59, 3Vi . 100 10 0 —— 15/9/57-60, 3 1 / 4 ■ 101 12 6 103 0 0

Sale Price Rise or Yield £ s d FaU £ a d Liberty Loan. 15/0/52-55, 3 100 0 0 — 3 0 0 Maunganui Cty., 1/4/65, 4'A 108 10 0 — 3 15 0 Bank N.Z. . 1 19 6 — 3 15 11 Ak. Gas (2) 0 6 5 — 6 4 8 Eenown Coll. 0 9 6 -Is 8 15 6 Union Steam. (pref.) .. 1 7 0 +6d 4 1 6 McKenzie's . 1 19 0 t 5 2 3 Wilsons Cem't 0 17 3 +6d 2 3 6 "W'wths (N.Z.) 0 14 1 — 4 19 6 Ditto (2) . 0 14 0 -Id 5 0 0 M.K. Manfrs. 0 5 6 — 5 .9 1

21 are:— July 21 Aug. 4 £ s d £ 8 d Dalgety (4 p.c. deb.) 75 10 0 75 10 0 British Tobacco .. 1 3 .9 1 3 9 Goldsbrougb Mort 0 15 0 0 15 0 Dalgety . . >.. 3 10 0 8 15 0 P. and 0. (def.) .. i e i y, 1 7 6 Mt. Lyell _ 0 16 6