COMMERCIAL

New Zealand Herald, Volume 80, Issue 24540, 24 March 1943, Page 5

COMMERCIAL

AUCKLAND EXCHANGE SCARCITY OF SELLERS Business on tho Auckland,- Stock Exchange slowed down considerably .yesterday and a very moderate turnover was recorded. There was no weakening in values, but sellers were firm. Bank of New Zealand shares and Farmers' Trading were a shade easier, but the demand generally was very keen at late rates. River Plates, in their first local sale since Juno last, showed a rise of 4s Cd.

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:— AUCKLAND EXCHANGE Sale Price Rise or Yield £ s d Fall £ R '1 Liberty Loan, 15/5/53-56, 0 , o 99 <> (j Bank N.Z.". 2 010 -Id IS » River Plate 0 Ifi 3 +4s 6d 3 / b Far. Trad. (2) 1 110 -Id 411 < Sanford 0 5 3 Also. —Dominion Breweries (odd lot). 33s fed. Unofficial list: Whakatane Paper Mills. ° S Wellington.—SLiberty Loan, 15/5/53-56. 3. £9fl 2s (id; §dittO, 15/9/52-55, 3, £9B oS; § Stock, 15/2/-13-46. 4. £IOO 12s Gd: ditto 15/1/53-57, 3Va, £lO3 ss; §Bank N.S.W., £3l 18s: Bank KZ.. 40s lOd (2); N.Z. Refrig. (con.), 10s Gd; Wellington Woollen, £8 ss; Tarnnaki Oil, 3s Od. Chrlstchurch. —Goldsbrough Mart, 2Ss (2): Gear Meat, 21s. Clunedin.—Liberty Loan, 15/5/03-o6 d. £Ofi 2s Od .. , J , tßased on interim dividend at rate oer annum. §Sales after hours on Monday t FIRM IN SYDNEY (Reed. 9.30 p.m.) SYDNEY. March 23 The Stock Exchange market to-day was generally firm, with most leading stocks at maximum rates and few sellers offering:. Sales included:—Placer Development, 51s; Broken Hill: Proprietary, 40s; Electrolytic Zinc. 55s 3d; Woolworths (Syd.), 15s 7Vad; Henr.v Jones, 50s Gd; Bank New South Wales. £27 10s; Burns, Philp, 545. MINING NEWS SLAB HUT RETURNS The annual report of the Slab Hut Dredging Company, which operates on the West Coast, states that the dredge commenced working at tho beginning of last June. The retorted gold won was 12070z, an average of 41.130z a week. The gold realisation was:— Gross, £12.027, at £0 lSs.4d an ounce; export and war taxes, £1784; realisation expenses. £'4S9; net. realisation, £9754. As; from January, the company's gold is being exported by air and , this will effect a considerable saving in costs- of realisation. Net profit for the year was £1590. the gross profit from the working account being £3033. DREDGE YIELD Austral-New Zealand Dredge (Otago).—Return for period ended March 20, 9Ssoz; 484 hours. MARINE WAR RISK (P.A.) WELLINGTON. Tuesday Advice has been received that the marine war risk insurance rate for voyages between New Zealand and the Pacific Islands has been reduced from 7% to 5 per cent Oil January 15 tho rate was reduced from 10 per cent to %% P" cent. UNION BANK ACCOUNTS In a statement covering tho annual report Sir John Davidson, chairman of the Union Bank of Australia, referred to reduction in net profit for 1942 of £14,000. Gross profit at £1,500,727, however, showed an increase of £171,000 on tho previous year's figures. Expenses increased by £20,000 on the previous year, and taxation at £410,361 was up by £44,000. He made particular reference to the increase in demand deposits. On the assets side investments were £11.782,788. against £11,192,672, and £3,910,000, against nil. was included as a special wartime deposit with the Commonwealth Bank of Australia. Alterations in the articles had been made in order to empower tho directors, when they thought fit, to give overseas shareholders notice of meetings at such time and in such manner as to enable them to express their views by proxy. DIVIDENDS DECLARED The directors of the South British Insurance Company have declared an interim dividend of Od a share for the half-year ended February 27. payable on April 22. This is the same rate as last year, when the full distribution was 2s a share, including a bonus of 3d a share. Pukemiro Collieries has declared an interim dividend of Gd a share (unchanged), payable on April 2. The total dividend last year was Od a share, equal to 3% per cent.

CLOSING QUOTATIONS Buyers £ s d Sellers £ s d Com. Bank .\ust. . 0 16 0 0 16 7 Com. Bank Syd. . . 18 10 0 — E., S., and A. Bk. — 4 o 6 Nat. Bank N.Z. . o 10 0 — Bank N.S.W. 31 10 0 32 5 0 Bank New Zealand 2 0 10 2 0 11 Ditto (D mort.) 1 11 6 1 12 6 Nat. Insurance 1 2 0 1 2 6 N.Z. Isurancc 3 17 6 4 0 0 Stli. British Insur. 3 8 6 3 3 9 6 Standard Insurance 3 9 6 11 0 Frms' Co-op. (£5) 4 10 0 4 13 0 Goldsbrough-Mort . N.Z. i!t River Plate 1 7 0 1 0 8 3 0 15 9 10 9 N.Z. Guarantee . . N.A. Frms' (B pref.) 0 3 4 0 3 5 0 13 0 — United P. Bldg. (Ak.) 1 1 e 1 1 9 Wright-Stephenson 0 (pref.) .. 1 1 — Pukeroiro Coal 0 17 fi 0 — Renown (pref.) 0 o 10 3 2 Tanpiri (pref.) Wfitpl .-Sttn. (ord.) 1 0 4 3 9 0 0 3 9 Auckland Gas 0 7 0 0 7 4 Ditto (con.) 0 o 10 0 3 0 Howard Smith 1 2 c 1 4 0 Hud.-Parker (ord.) o 7 0 o 8 6 Northern Steam. . 0 6 9 0 7 1 Ditto (con.) 0 1 6 0 1 9 Ley land-O'Brien T. 1 0 3 0 — 0 National Timber . 0 9 0 10 Bonds Hosiery 1 11 0 0 — fl Kaiapoi (con.) 0 7 6 8 Oamaru 1 3 6 — Wellington (pref.) . Dom. Brew, (ord.) s 5 0 — 6 1 13 3 1 13 N.Z. Breweries .. 1 17 3 1 0 18 0 Hadfields 0 10 3 11 3 3 Anst. Con. Indus, . — 2 11 British Tobacco .. 2 7 3 2 8 3 Broken Hill Pty. . q 0 3 o 1 0 Colonial Sugar . . 54 .5 0 55 5 0 Consolidated Brick 0 8 9 0 9 3 Dona;ithy's Hope .. 2 10 0 2 18 6 0 Dunlop Rubber 1 o 0 1 3 14 Elect. Zinc (ex div.) o 13 0 2 6 Farmers' Trading . i 1 9 1 1 ' 10 Ditto (A pref.) l 4 9 — 0. J. Coles 0 16 0 2 17 3 0 Hill and Plummer 1 7 6 1 10 K.D.V. Boxes 0 10 7 0 11 0 Macduff's .'ord.) .. 0 9 0 0 10 3 Ditto (pref.) .. 1 0 o 1 1 6 Mack.v, Logan 1 8 0 1 9 9 0 Metters 0 1G 0 0 18 M. C. (deb. stk.) 1. 0 6 0 — 3 M.K Manuf's 0 6 o 7 New Akld. Laundry 0 13 6 0 16 0 N.Z. Drug — 9 4 6 6 N.Z. Farmers' Fert. 0 19 1 1 0 N.Z. For. Pro. (ord.) 0 3 10 0 4 3 N.Z. Newspapers . 1 16 3 0 1 17 3 North. Roller (ord.) 1 4 1 — 0 Peters Ice (N.Z.) 0 18 0 0 Radio (1936) 0 14 0 0 15 0 Reid Rubber 1 6 9 1 7 9 Sanford (ord.) 0 5 18 1 0 5 9 Ditto (pref.) .. 0 6 1 0 0 Sharland (pref.) .. 1 6 6 0 — 6 Wilsons Cement .. 0 18 2 18 Woolworths (N.Z.) . 0 15 3 0 16 0 3 Ditto (Syd.) . • 0 15 10 0 16 Arahura 1 6 0 1 6 0 9 8 Martha 0 9 8 0 9 Wailii Invests. 0 4 1 0 4 Mount Lyell 1 8 9 10 1 9 6 0 Mt. Morgan (ord.) 0 4 0 10 WarL., 1/8/51-54, 3 9S 10 0 99 0 0 L. L., 15/9/52-55. 3 98 0 0 99 0 0 0 Do., 15/9/53-56, 3 99 0 0 99 5 Stock— 15/4/46-49, 4 .. 103 10 0 104 5 0