COMMERCIAL

New Zealand Herald, Volume 81, Issue 25045, 8 November 1944, Page 2

COMMERCIAL

AUCKLAND EXCHANGE BANK OF N.Z. ACTIVE The rise in Bank of New Zealand shares to 44s 9d recorded on the Stock Exchange on Monday proved to be only a temporary movement, and they were again on oiler at yesterday's afternoon call at 44s 6d. The reduction brought in a strong buyer, who secured parcels totalling 2000 shares at that figure. Government stocks were steady, the only sales recorded showing an increase in prices approximately equal lo interest accrued since last dealings. The Victory Loan 3 per cents had a market between £!K3 15s and £l)7 oh, and ft seller of the '2A per cents came in at £97 ~>s, with no buying response. Among industrials Robinson Ice Cream had a transfer 9d up at .'sos 3d, the highest level reached in recent years.

YESTERDAY'S SALES RETURN ON INVESTMENTS In the following list of yesterday's sales yields allow for exchange and Britisli income tax where necessary, and, in the case of loans, redemption and brokerage:— AUCKLAND EXCHANGE Sale Price Rise or Yield C s (1 Fall £ s d 2nd Liberty Ln. 15/5/53-AG, 3 . . . 9S 12 G +2s Gd 3 4 .10 3rd do., 15/12/5350, 3 . . 98 7 G +2s Gd 3 4 8 Rural Bonds, 15/0/47, I 102 5 0 t 3 4 9 Ak. Har. Bd.. 10/9/71, 'Sy A 99 10 0 Bank N.Z. (3) 2 J 6 -3d 3 2 11 Com. Bank 0 17 10 Fletcher Hldgs. 1 6 0 G. J. Coles . 3 9 0 Milne A Choyce 1 10 0 Radio (1936), (2) . 018 6 Robinson Ice .1 10 3 +9d 5 5 9 Also. —Wool Bonds, 1/2/48, 20s 3d. Wellington,—National Bank N.Z.. 53s 9d; Rotoiti Timber, 9s. Christchurch,—Victory Loan, 15/2/55-58, 3,. £95 JOS, £96 15s; Ist Liberty Loan, 15/0/47, 2Va, £9B 2s Gd; 2nd diHo. 15/5/48, 2Vi, £9B ss; Stock, 1/8/46, 2%, £99 ss; ditto. 15/5/49-52, 4, £lO4 7s (id; Wool Bonds. 1/2/49, 19s Id; Standard Insurance, 79s Gd. United Provisions. 18s. ISs iy a d; Woolworths (Sydney), 21s. Dunedln.—Bank of N.Z., 44s 10d; Commercial Banking of Sydney, £2l 10s; §Mosgiel Woollen, £l4 10s (odd lot); §Gillespie's Beach, 3d. tLast. sale cum interest. §Sales after Imuis on Monday j KEEN BIDDING FOR SHARES j The Melbourne Stock Exchange market had an opportunity on Monday, rare nowadays because of the scarcity of leading industrial scrip, of bidding for 1000 Broken Hill Proprietary shares offered at tho ceiling price of 4os. An immediate response from every broker on tho callroom necessitated a ballot by the 50 buyers for ten parcels of 100 shares each. The present yield to tho investor is 2Va I>or cent. | VICTORY LOAN DEALINGS VARIATIONS IN PRICES Unusual discrepancies in valuations on the I Now Zealand Stock Exchanges have occurred ' over initial dealings in the new Victory Loan, j which was quoted for the first time on Monday. Opening rates iu connection with pre- | vious war loan issues have usually been based ; on a discount of from £2 to £3 and brokers generally were prepared for a valuation of ! about £97 10s. On the Auckland Exchange j opening bids for tho 3 per cents were at £96 I 15s, being raised to £97 at tho afternoon i call, with sellers at £97 ss. j In the circumstances the sale of a £SOO ; parcel of the same issue at £94 reported from Christchurch on Monday came as a ; bombshell to local brokers, for values of ! securities traded at the chief centres, particularly of Government stocks, are usually closo to parity. Apart from the disturbing effect upon normal trading of such marked differences in prices, tho possible repercussions upon national finance have come up for consideration in investment circles. Auckland brokers yesterday modified their offers slightly, with buyers back at £O6 15s and sellers asking £97 ss, while in Christchurch sales were made first at £95 10s ■mil later at £96 15s. WOOLLEN COMPANIES' PROFITS The accounts of tho Mosgiel Woollen Factory Co. for the year ended October 6 show a net profit, of £15,033, compared with £13,850 last, year, and £13,312 in 1912. After paying an interim dividend absorbing £3815, providing £52,000 for taxation, £9530 for depreciation, and transferring £6OOO to reserve, there is £25,840 available. As already announced, tho directors propose a final dividend of G per cent, requiring £5722, making 10 per cent for the year, unchanged, and leaving £20,124 to be carried forward, against £20,027 brought in. Tho accounts of the Oamaru Worsted and Woollen Mills, Ltd., for tho year ended September 19 show a net profit of £8127, compared with £8307 last year and £B2IO in 19)2. The sum of £3OOO has been transferred from (he profit and loss account to general reserves, making £21,000. As already announced. the directors propose a final dividend of 3 per cent, making 6 per cent, unchanged for the year, leaving £10,869 to bo carried forward, against £10,841 brought in. Reserve for taxation is £12,047. DIVIDENDS DECLARED Fletcher Holdings, Ltd.—lnterim dividend for six months ended October 31 at the rate of 0 per cent per annum on ordinary and preference shares, payable on December 1. Books close on November 23. Pato Consolidated Gold Dredging. Ltd. (Vancouver).—Half-year, 15 cents (Canadian) a share (unchanged), less non-resident tax of 15 per cent, payablo December 1. Rooks close on November 11.

CLOSING QUOTATIONS Buyers Sellers I ,c s (1 c s d Com. Bk. lit Aust. (i 17 Kl 0 18 0 Ditto (cum. nf.) 10 0 ii 11 0 0 E., S. ami A. Bk. 1 0 Nat. Bk. of N.Z. Bank N.S.W. — 1 o 14 6 — 36 0 0 Bank N.Z. ■2 4 1 1 6 National Insurance 1. 4 3 I 0 New Zealand Insce. 4 7 3 I 8 0 Sth. British Insce. 3 15 6 3 16 0 Standard Insce. . 3 19 0 Dom. Invest. 1 3 9 1 4 0 F.C.A. (,€5 paid) 5 0 0 0 Ditto (£2 paid) 1 14 6 1 17 0 Ditto (fl paid) 0 17 0 0 18 0 Newton King (c. pf.) 1 3 0 1 4 0 N.Z. Guarantee . 0 3 10 0 4. 3 Trad. Fin. (con.) 0 6 6 0 7 2 Pukcmiro Coal .. 0 IS 0 0 10 9 Renown (ord.) 0 10 4 0 11 0 Ditto (pref.) .. 0 2 8 0 1 1 Auckland Gas 0 7 7 0 7 !) Ditto (con.) — 0 3 1 Devonport Ferry . 1 1 1 0 1 12 6 Howard Smith 1 5 0 1 !» Northern Steam .. (1 10 1) III l<) Ditto (con.) (I •2 11 II :t 11 Kauri Timber 1 7 (1 1 8 3 Bruce (ord.) 1 13 II Kaiapoi (IT/- f.p.) — 1 (1 Dom. Brew, lord.) 2 1 i; 2 6 I lines lord.) 7 1 1 n T Hi (i Sew Zealand 2 2 :{ 2 2 !l Auckland Laundry 11 17 (I ll 1 il 6 Aust. Cull. Indust. 2 17 2 III ll Booth-Mac. (pref.) — 0 1) 6 British Tobacco . . .— 2 ! 1 3 Broken Hill Pty. 2 4 2 3 Bycroft . . 2 10 0 2 15 0 Claude Neon (X.Z.) 1 0 0 —. Colonial Sugar 56 15 0 57 5 0 Con. Brick & Pipe D to 0 0 10 8 Dom. .Pictures . . — 0 16 0 Dom. Fertilizer — 1 7 6 Elect. Zinc (c. p.pf.) •2 16 6 3 0 0 Farmers' Trading 6 3 1 6 6 Ditto (B c. pf.) 5 7 — Fletcher Hold. . . 5 10 1 fl 0 Ditto (new) 5 3 1 5 V Caro's Stores 4 0 1 5 G Cr. J. Coles 7 0 3 9 6 H.M. Theatre 14 6 0 15 6 K.D.V. Boxes 11 6 0 12 0 McKendrick (ord.) 3 0 — Ditto (pref.) . . 4 0 1 6 0 McKenzies — 3 3 6 Macky, Logan 1 10 0 13 6 M. & C. (deb. stk.) I 7 0 7 0 M.K. Manuf's. 0 7 6 7 11 National Electrical — 13 0 N.Z. Drug Farmers' Fertilizer 4 18 0 — 6 1 5 0 Forest Prod, (ord.) 11 0 7 4 N.Z. Newspapers . 3 2 2 0 Nth. Milling (ord.) 0 1 2 0 Peters Ire (N.Z.) 0 — Radio (1030) 0 0 19 0 Reid Rubber Mills 8 9 1 10 0 Robinson Ice Cream 0 9 — Sanford (ord.) S 3 — Ditto (pref.) 2 0 1 0 Silknit (N.Z.). Ltd. 4 6 6 0 Union Oil, Soap . . 7 0 0 0 Wilsons Cement . . 18 0 IS 6 "Woolworths (N.Z.) 0 J) 1 3 Ditto (Sydney) 1 n 0 1 0 W. R. Carpenter . . Wths Hldgs. 2 4 0 2 5 6 — 1 0 9 Arahura 1 11 0 1 12 6 Kanieri 1 5 6 1 7 0 Emperor 0 14 0 0 15 0 Mount Lyell 1 11 3 1 11 9 Mt. Morgan (ord.) 0 7 2 0 7 6 Rural Bds., 15/0/47 4 . . . . 102 0 0 — War Loan, 1 /10/53 94 0 0 94 10 0 Stock— 15/5/48, 2V a .. 08 5 0 98 10 0 15/(5/47-49. 2M. . 97 5 0 97 10 0 15/2/40-50, 2*4 — - 97 5 0 15'0/52-55, 3 . . 97 10 0 OS 0 0 15/12/53-56, 3 . 08 7 6 08 10 0 15/2/55-58, 3 .. 06 15 0 07 5 0 15/6/52-55, 4 . . 105 10 0 106 0 0 City of Auckland. 1/1/50, 3Vi 99 10 0 101 10 0