COMMERCIAL

New Zealand Herald, Volume 79, Issue 24368, 2 September 1942, Page 5

COMMERCIAL

AUCKLAND EXCHANGE! FIRM TONE MAINTAINED A healthy tone was again manifest on the Auckland Stock Exchange yesterday and a satisfactory, turnover was recorded. There was a marked scarcity of Government issues, but otherwise business covered a wide range, with most values firmly held. In the b«liking section Nationals of New Zealand continued to advance, with two sales at 42s 6d. English and Scottish had their first local sale this year. Fanners' Trading improved with a market between 20s 3d and 20s 9d. The Woolworth group was in keen demand and the second preference shares of the parent company sold Is up at 26s 9(1, while New Zealands, with final business at 14s 9d, touched the highest level since last November. CLOSING QUOTATIONS

YESTERDAY'S SALES RETURN ON INVESTMENTS In the following list of yesterday's sales yields allow for exchansre and Brithh Income tax where necessary, and, in the case of loans, redemption and brokerage:— AUCKLAND EXCHANGE

Also: Taranaki Oil, ss; Arahura, 26s 8d; Broken Hill South, 22s 6d. Unofficial list: Auckland Meat, 31s; Southern Cross Investment. 3s 6d (4). Wellington.—Stock, 15/9/57-60, 3/„ £.102 10s: ditto, 15/1/53-57, 3 I A £lO2 10s; ditto, 15/4/46-49, 4, £lO4 10s. _ Christchurch. —Bank Is.Z., 89s 6d (2); National Bank N.Z., 42s Od; Wellington Woollens (pref.), £7 12s 6d; Ballrns Breweries, lis 6d; §A.C.I., 46s 3d (2); SColonial Sugar, £4B 15s; §Donaghys Rope, 48s Dunedin.—G. J. Coles. 51s; N.Z. Newspapers, 32s 9d; Woolworths (N.Z.), 14s 8d; N.Z. Refrig. (con.), 9s 6d (2); Donagby s Rope, 48s; Mount Lyell, 26s 3d; El nice Woollens, 24s 3d; North Broken Hill, 44s 6d. Unofficial list: Macintosh, Caley, Phoenix, 166 9d. . , . § Sales after hours on Monday. JPrerious sale cum dividend. NEW LIMITS IN SYDNEY Business in many shares remained at a standstill in Sydney on Monday because of the price limit regulations. Buyers offered highest permissible rates, but sellers continued to hold off awaiting the new limits which came into effect yesterday. BUOYANT STOCK MARKET SHARP RISE AT FRANKTON (0.C.) HAMILTON, Tuesday \ sharp rise in values occurred for all classes of beef at the Frankton stock sale today, extra heavy prime ox realising up to £l6 18s while good quality prime heifers sold at almost 40s per 1001b. There was a smaller varding than usual. A keen demand existed for fat sheep. There was a good yarding. Prime heavy wethers sold to £2 7s and good quality young fat ewes changed hands at 40s Values improved for hoggets, which realised up to 435. Baconers brought up to £4 10s; porkers, £3 15s; and sows to farrow, £4 10s. MASONITE CORPORATION Net profit of Masonite Corporation (Australia), Limited (Sydney), for the year ended June 30 was £26,904 against £30,530 for the previous year. Before striking pront> £29,201 was provided lor taxation, and £11,177 for depreciation. Ordinary dividend of 8 per cent, unchanged, interim 3y 3 per cent, final 4 1 / a per cent, requires £20,000, and deferred shareholders receive £4700 as stipulated proportion. A sum of £2OOO is transferred to reserve, compared with £/000 lor the previous year, leaving £475 to be earned forward, against £271 brought forward. N.Z. FARMERS' PROFIT (P.A.) CHRISTCHURCH, Tuesday The annual accounts of the New Zealand Farmers' Co-operative Association of Canterbury. Limited, for the year ended July 81, 1942 show a net profit of £64,281. The directors' dividend recommendations are the same as last vear, namely, A x /% per cent on first preference shares. 4 per cent on A preference and B preference, and 2 per :ent on ordinary shares. • The net profit of £64,281 compares with £55,121 last year and £59,459 in 1940. HUME PIPE YEAR After providing £29,000 for taxation, Hume Pipe Company (Aust.), Limited, earned a profit of £22,549 for the year ended June 30. compared with £31,163 for 1940-41, for which taxation was £17,500. Ordinary dividend is reduced from 4 to 2% per cent. Final dividend on preference shares at 7% per cent per annum is unchanged. DIVIDENDS PAYABLE Woolworths (N.Z.), advise that a dividend of 4% per cent, subject to security taxes (unchanged) has been declared for the half-year ended September 30 on preference shares and will be payable on October 15. The Australian Foundation Company (Melbourne) recommends a dividend of 4 per cent, payable on September 2S. REMITTANCES TO LONDON LONDON. Aug. 30 London Banking Information Service urges persons remitting money from Australia and New Zealand to use mail or telegraphic transfers. London bankers emphasise that employment of cheques leads to unnecessary delays, especially when mails are lost. RECIPROCAL TRADE That there is room for greater trade reciprocity between New Zealand and Great Britain is urged by the United Kingdom Manufacturers and New Zealand Representatives' Association, in its annual report. The association condemns the import licensing system and claims that its abolition would not adversely affect New Zealand s internal economy, but would ensure that, to the extent funds are available, every possible encouragement would be given to importation* from the United Kingdom. MINING YIELDS West Coast Dredges.—Associated week ended August 29: .192VsOi. from .1.600 yards. Moonlight, wash-up on August 420z. in 350 hours.

Buyers Sellers £ s d £ s d Com. Bank Aus. 0 14 8 0 14 10 Com. Bank Syd. 16 17 6 National Bk. N.Z. 2 2 0 Nat. A'asia (paid) 11 5 0 Bank N.3.W. 28 10 0 29 10 0 Bank New Zealand 1 19 4 1 19 6 Union Bank. Aus. 7 2 6 National Insce. .. 0 19 6 N.Z. Insce. 3 10 6 3 11 0 South Brish Ins. 3 2 0 3 3 0 F.A.C. (£5 paid) 4 12 0, 4 15 0 Goldsbrough Mort . 1 5 9 — River Plate 0 12 0 N.A.F. (B pref.) 0 11 6 0 12 3 Pukemiro Coal .. 0 17 0 — Renown (pref.) .. 0 2 9 0 3 3 West. Stktn. (ord.) 0 2 9 0 3 2 Ditto (pref.) 0 8 1 0 8 8 Auck. Gas (10/-) 0 6 0 0 6 5 Ditto (con.) 0 2 6 __ Bartholomew Timb. 0 19 0 National Timber . 0 8 3 0 9 0 Rotoiti (10/- f.p.) 0 3 0 Felt and Textiles 1 16 6 Kaiapoi (con.) 0 7 10 0 .8 3 Bradford Cotton .. 1 12 6 Wellington 7 4 0 7 15 0 Dom. Brew, (ord.) 1 6 9 1 9 New Zealand Brew. 1 12 9 1 14 0 Aus. Consol. Indus. 2 6 0 2 7 0 British Tobacco . . 1 17 6 Broken Hill Pty. 1 17 3 1 17 6 Burns, Philp 2 7 6 Colonial Sugar .. 49 0 0 __ Consolidated Brick 0 6 10 0 7 2 Electro. Zinc (pf.) 2 5 0 — Farmers' Trading . Fletcher Hdg. (pf.) 1 0 3 1 0 9 1 1 3 — G. J. Coles 2 10 0 — Hill and Plummer 1 6 0 — I.C.I, (pref.) 1 3 9 — MacdufTs (pref.) .. 0 17 0 0 18 0 M. and C. (deb.) . 0 17 6 — Morts Dock 0 18 0 1 1 6 N.Z. Drug (£2jpd.) N.Z. Farm. Fert. 3 15 0 __ 0 16 6 0 17 6 Ditto (5y 2 C. pf.) 1 2 3 1 3 0 N.Z. Newspapers . 1 12 3 — N.Z. Refrig. (con.) 0 9 3 0 9 9 Reid Rubber 1 1 0 1 1 6 R. and E Tingey . 1 2 3 — Sanford (ord.) 0 4 5 0 5 0 Sharland (pref.) . . 1 2 6 Taranaki Oil Fields 0 4 9 0 5 9 Wbittome-Stevenson (e< div.) 0 18 9 1 2 0 Wilsons Cement- .. 0 17 0 0 17 3 Woolworths (N.Z.) 0 14 8 0 14 10 Ditto (Syd.) .. 0 15 6 0 16 0 Arahura 1 6 0 1 :lo 0 Consolidated Gold. 0 6 9 0 7 9 Martha 0 8 3 0 8 6 Mount Lyell 1 6 0 1 7 0 North Broken Hill 2 4 0 2 8 0 War Loan. 1/10/53 91 10 0 92 0 . 0 L.L., 15/9/52 55, 3 99 0 0 99 12 6 Stock — 15/1/56-59, 3VI • 100 10 0 102 0 0 15/9/57-60, 3>/ 4 . 102 0 C 103 0 0 Amal. Brick (Ak.), 1/3/44, 6 (exi.) 100 0 0 101 0 0 Auck. Gas (perp.) 79 0 0 _ —

Sale Price Rise or Yield £ s d Fall £ 6 d Auck. Gas (perp. deb.). 3% . 80 0 0 +20S 4 7 0 Com. Bk. (2) 0 14 9 +ld 4 10 5 E.S. & A. Bk. 3 12 3 -2s 9d 4 15 6 Bank N.Z. . 1 19 6 — a 15 11 Nat. Bk. N.Z. (2) •_» 2 6 +6d 5 12 6 Nat. limber 0 8 8 +2d 9 4 7 A.C.I. 2 6 6 — 3 2 4 Bkn. Hill Pty 1 17 1 -2d 3 7 5 K.D.V. Boxes 0 9 0 + 7 15 6 W'wths (N.Z.) 0 14 8 +ld . 4 15 5 Ditto .. 0 14 9 +2d 4 14 10 W'ths (Syd.) 8 (2nd Pref.) 1 6 9 +1/5 4