COMMERCIAL

New Zealand Herald, Volume 81, Issue 24872, 19 April 1944, Page 2

COMMERCIAL

AUCKLAND EXCHANGE BANK SHARES IN DEMAND Business was very active on the Auckland Stock Exchange yesterday, although a number of securities that are usually quoted were again off the market. Banking shares attracted special attention. Nationals of Australasia at £l2 10s were at their highest point in recent years, and Commercial Banking of Sydney, with a transfer at £22 10s, were at a level not realised since May, 1937. Buyers for New South Wales raised their offers to £.'i7 without response from holders. Government stocks were again in short supply and the few lots on offer were transferred at advances reflecting additional interest accrued since the last sales. Farmers' Trading and Reid Rubbers sold at new high levels. CLOSING QUOTATIONS Buyers Sellers £ s d £ s il Bank Australasia . 9 0 0 9 12 6 Com. Hk. of Aust. 0 18 0 0 10 0 K„ S. and A. Bk. 4 5 0 Nat. Bk. of N.Z. 2 15 0 2 15 9 Nat. Bk. A'asia (pd.) 12 7 6 Bank N.S.W. . . 37 0 0 Bank N.Z. .. 2-1 4 2 4 (I Union Bk. of Aust. 8 3 6 8 10 O National Insurance 1 5 6 New Zealand Insce. 4 9 3 4 9 9 Sth British insce. 3 15 9 Don), invest. . . F.C.A. (£5 paid) 5 9 0 Gotdsbrough Mort .18 9 Newton King (c. pf.) 12 0 Traders' Finance . 0 17 0 0 18 0 Ditto (con.) .. 0 7 0 0 8 0 Renown (ord.) . . 0 9 0 010 0 Ditto (pref.) . . 0 3 0 0 3 6 Taupiri (cum pf.). 10 0 • Auckland Gas . . 0 7 0 0 7 8 Ditto (con.) . . 0 3 0 0 3 4 Northern Steam .. 0 10 (i 0 10 8 Ditto (con.) . . 0 3 1 0 3 3 Bartholomew . . 13 0 Lcyland O'Brien 1 3 6 National . . o 7 0 0 9 0 Taupo Totara (ord.) 0 9 6 010 3 Kaiapoi (17/- f.p.) 1 4 0 1 0 0 Mosgiel . . . . 13 0 0 Tattersfield . . 2 () 0 Ballins . . . . 0 18 0 0 18 9 Dom. Brew, (ord.) 2 4 0 2 0 0 New Zealand . . 2 1 0 2 3 0 Tooth's • . . 2 10 0 Aust. Con. Indnst. 2 17 0 Berlei (N.Z.) . . 3 19 0 Broken Hill Pty. 2 4 3 2 6 9 Burns, Philp . . 3 10 Bycroft . . . . 2 13 9 Claude Neon (N.Z.) .1 5 (3 16 0 Colonial Sugar . . '59 10 0 60 0 0 Con. Brick '& Pipe 010 3 010 0 Farmers' Trading 16 7 17 0 Ditto (A c. pf.) 1 5 9 Ditto (B c. pf.) 15 6 G. J. Coles . . 3 7 0 3 9 0 Hadfields Steel Wks. 012 9 014 0 H.M. Theatre (pf.) 0 16 0 1.C.1. (C. pf.) . . 17 0 18 6 M.K. Manuf's. .. 0 7 0 0 7 3 Morris Hedstrom 1 16 0 Moris Dock . 16 0 Auckland Laundry 0 IS 0 0 10 3 Farmers' Fertilizer 1 3 9 1 5 0 Forest Prod, (ord.) 0 7 2 Ditto (pref.) 0 12 0 Peters Ice (N.Z.) 14 0 16 0 Radio (193(0 0 16 6 Reid Rubber Mills 1 11 6 1 12 3 Ditto (con.) . . 018 9 Robinson Ice Cream 1 8 6 Selfridges (A'asia) 17 0 19 0 Wilsons Cement . . 0 19 11 Woolworths (N.Z.) 0 18 3 Ditto (Sydney) 019 10 019 11 Wths. Hldgs. (S.A.) 1 11 0 Arahura .. .. 1 10 0 1 12 0 Martha • • .. 0 8 4 0 8 9 Waihi Invests. .. 0 5 4 0 5 8 Mount Ijyeil . . 1 15 0 Mt. Morgan (ord.) 0 7 3 0 8 0 Stock — 15/9/47, 2% . . 98 10 0 15/6/47-49, 2Va • 08 10 0 15/9/52-55, 3 . . 99 0 0 15/12/53-56, 3 . 99 17 6 100 0 0 15/9/57-60, 3% . 101 10 0 30/11/48, 4 . . 104 15 0 Wool Bds„ 1/2/48 1 0 0 1 0 6 Thames. 1/4/72 . . Amal. Br. (Anck.), 1/3/51-59, 5 . 104 0 0

YESTERDAY'S SALES | RETURN ON INVESTMENTS ! In the following list of yesterday's sales yields allow for exchange and British income 1 tax where necessary, and, in the case of loans, I redemption and brokerage:— AUCKLAND EXCHANGE Sale Price Rise or Yield £ s d Fall £ s d j 2nd Liberty Ln., 15/5/53-56,3 100 0 0 +2s 6d 3 16 3rd Liberty Ln., 15/12/53-56, | 3 . . . 99 17 6 +2s 6d 3 1 3 I Slk.. 15/5/4952, 4 . . 106 0 0 +ss 3 0 3 i Bank N.Z. .. 2 4 6 +2 13 11 i Com. Bank . 018 7 -Id 3 11 9 | Com. Banking 22 10 0 +37s 6d 4 3 4 Nat. Bk. A'sia 12 10 0 +ss 4 0 0 I N.Z. Insce. . 4 9 6 +2 4 8 i Kaiapoi . . 15 0 -Kid *4 1 7 I Col. Sugar (2) 59 12 6 | Farmers' Trad. .1 6 9 +2d 314 9 I Milne & Choyce, ! deb. stk. .15 0 J 416 0 I Peters Ice . . 1 5 0 j Reid Rubber 111 9 +.3 d 315 7 i Selfridges ; (A'sia) . . 17 9 i Woolworths (Svd.) (2) 0 19 10 -Id 3 0 6 Ditto 0 19 11 Also.—Auckland Gas, perpetual debentures, j3% odd lots, £'BB (2). Unofficial list: Roose I Shipping (pref.), 22s Od. Wellington.—3rd Liberty Loan, .15/12/53- ! 56, 3, £9!) 17s 6d; §Stock, 15/5/49-52, 4, j £ 106; ditto, £106; Bank N.Z., 44s (id; Nevv- ] ton King (pref.), 22s Od; Claude Neon (N.Z.), j 20s; Forest Products, 7s; §Wilsons Coment, 120sj Woolworths (Sydney), 19s lid. Christchurch.—lst Liberty Loan, 15/9/52I 55, 3, £l)9 ss; 3rd ditto, 15/6/47-49, 2Vi, £1)8 ! 7s Gd; Bonds, 15/4/40-49, 4, £lO2 ss; Bank j \\Z., lis Id (3); Commercial Banking Syd- { ney, £22 Ids; National Bank A'sia, £l2 10s <2); Union Bank, £8 ss; Wellington Woollen, 1 £9 7s (id; Broken Hill Pty., 445; Forest Products. 7s; McKenzies, 57s Gd: Reid Rubber, 31s 9d. Dunedin. —Stock, 15/1/53-57, 3'/ s . £lO3 12s Gd; ditto, 15/9/57-60. 3'/*, £lO.l 12s Gd; ditto, 15/5/49-52, 4, £lO5 15s; Kaiapoi Woollen. 24s 9d; Tooths Breweries. 595; D.1.C.. 21s; Dunlop, 25s (id; M.K. Manufacturers, 7s 3d; Woolworths (Sydney), 19s lid; Gillespie's Beach, 4'/ 2 d. tßased on interim dividend at rate per annum. JPrevious sale cum dividend. ISales Biter hours on Monday. GERMAN FINANCES DEPRECIATING CURRENCY Ample evidence exists that the financial i situation in 'Germany is deteriorating rapidly, I states the London Financial News. The most striking index is the note circulation, which increased in 1942 by 5,050,000,000 reichsmarks and' in 1913 by 0.308.000,000 reichsmarks. Quotations for the reichsmark in neutral markets give some indication of the unofficial valuation put on German currency. The official parity between the reichsmark a rid the Swiss franc is 172.50 francs for 100 reichsinarks Reichsbank notes are quoted in Switzerland, however, at. rather under 1() francs per 100 reichsinarks. It is true that even Allied notes are quoted at a discount, but, while the discount on pound notes is about 40 per cent and that on dollar notes about 35 tier cent, reichsmark notes are quoted at a discount of over 93 per cent. The note circulation is likely to increase this year at an even more rapid pace than in 1913. At the same time the volume of consumers' goods available for holders of these notes is becoming smaller as Germany's industrial capacity is reduced. Another factor operating in the same direction is the falling off of imports both from neutral countries and occupied territory. The liberation of the Ukraine is a blow to German war finance as it necessitates the curtailment of supplies | for civilian purchasers. How long the deterior- | ation process can continue without leading to I a crisis remains to be seen. But the situation I is becoming more and more artificial, and if ! the iron discipline with which it is maintained were to snap under the effect of some major I military reverse the consequences would be . far-reaching BARCLAY'S BANK The accounts of Barclay's Bank, Limited (London) for the year ended December 31 show a net profit of £1,584,113, compared with £1,529,744 in 19-12. From the profit £250,000 was allocated to contingency account and £250.000 to premises reserve account. A final dividend of 5 per cent, making 10 per cent for the year, on the A stock, and of 7 per cent, making 14 per c-ent for the year, on the B and C stock, absorbed £520,731. A similar amount having been paid as interim dividends, the balance carried forward was £589,460, against €540,814 brought ill. The balance-sheet shows paid capital at £15,858,217. reserve fund at £11,250,000, and tolal assets £865,162,361. MINING YIELDS Austral-New Zealand (Ota g0).—28 days ended Anril 15, 22,30z, 132.000 yards, 440 hours. The whole period was occupied in dredging past Lewbum Bridge.