COMMERCIAL

New Zealand Herald, Volume 82, Issue 25210, 24 May 1945, Page 2

COMMERCIAL

AUCKLAND EXCHANGE SOME SHARES EASIER Share turnover again expanded on the Auckland Stock Exchange yesterday, but dealing in Government issues remained fairly restricted around late rates, business involving £2825 worth. Prices of some leading share issues showed a slight reaction to recent gains and there was heavy dealing in Fletcher Holdings at a decline of 3d to 29s 3d. Bank of New Zealand* were also traded more freely, giving way 2d to 47s 9d j on a turnover of 398 shares. On thej other hand Nationals ot New Zealand, moved up a further 3d to 58s 9d, a gain of Del already this week. Wilsons Cement, reilecting the dividend re-j duction, cost 3d on sale at IBs 9d. at j which price more were available. |

MARKET TURNOVER RETURN ON INVESTMENTS In the following list of yesterday's sale yields allow for exchange ami British ineom tax where necessary, and, in the case ot loan; redemption and brokerage:— AUCKLAND EXCHANGE Sale Price Turn- Yield

t Previous sale cum interest. Wellington.—War Loan, 1/10/53, (.tsKI) till 2s (Jd; Victory, 15/2/49-30, 2V l t'AVt), X'Siti 12s (Jd : ditto, 15/2/5.V58, •' cIIMS), fcUB '-is Cii (3); ditto (.€1,750), .£»!■ 5s (13): Liberty, 15/ 12/53-50, :! (.C 1.200), ,tO k 1 OS; stock, 1/8/51-51, ;t (.£ 1550), i'9B 5s ditto, 15/l/4(i-40, 1 ( L'7so) £IOO 13s; ditto I ,"i/5/ IK- - )'-', 1 (£2200), ClO3 3s (•_>); ditto 31/.V51-58, 1 ( £300), C 107; National Bnnl< N.Z. (30), 38s 0(1; ditto (202), 3Ss 0(1; Ban! New Zealand (85), 17s Oil; Goldsbrough-Mor' cjlo), :ils 7d; Fletcher Holdings (3200), 20: (id; McKenzies (100), (Ms; Booth-Macdonalc: (200) Is (id; Woolworths, N.Z. (1300). 2.'i< 3d (4) Christchurch.—Stock, l/8/4(i, "jy 3 (£4000) 100 10s; Liberty, 15/TJ/53-5C5, 3 (€200) 1:98 7s (jd; National Bank X.Z. (102), .*>{•{ od; Australian Foundation Investment Trusl (1500), ss, 5s Id; Broken Hill I'ty. (300) -His (2); Fletcher Holdings (100), 20s Oil Macduffs (100), Kis 3d; N.Z. Drug (20) €3 ;?S; ditto. 11 paid (10), Ols; Broken Hil South (100), 28s; Mount Morgan (100) Ounedin.—Stock, 1/8/-Hi, 2'/» (£'5000), .£9! 10s (2); Wool bonds, 1018 (€45), 20s 8d; ditto 1010 ( £10). 10s Sd; National Bank N.Z (50). 58s (id; Standard Insurance (200) s:n od; Southland Meal. (50), 51s; dittc (50), 51s (id; Macduffs, pref. (800), OGs; N.Z. Drug €1 paid (01). Ols. FARMERS' TRADING YEAR EARNINGS WELL MAINTAINED Record sales are reported by the Farmers' Trading Co., Ltd., tor the year ended March HI, when the company earned a net profit of 112.108. This compares with £42.581 in the previous year and €13,773 in 1013. Ordinary dividend is being maintained at 3 per cent per annum In striking (he profit the directors state that full provision has been made for the payment of income and security taxes, as well as for depreciation and bad debts. In addition a further sum of £15,000 has been added to the reserve for deferred maintenance, raising this fund to £25,000. Reporting that the finances of the company are in sound shape with a credit balance at the Bank of New Zealand, money on deposit and cash in hand amounting to £452,70.. and with an investment- of £ 150,004 in Government loan, the directors add that caution had been exercised in granting credit and satisfactory reserves held against all outstanding accounts. Results for the past five years are:— Dividends

Profits ord. tAniouht (!ross Not |u\ (|if. & ord.) KM I .. £ 137,29* £75,007 7 £51,72(1 1912 .. 112,025 48.43!) 5 11,1 111 I'll:! .. astt.fi M 4tt,77tt 5 30,481 1!111 .. 375,09(> 4'2,581 r, 39.454 1015 . 403,893 42,498 5 39,484 tThe dividend rates on preference capital are and B preference 5 tt-5 per cent, per annum and C preference, 5 per cent per an mi in. Balance-sheet changes are:— LIABILITIES Variation £ £ Paid capital . . 709,273 Same Surplus and reserves 123,345 +3.012 Taxation reserve . . 145,047 -43.8(10 Def. maintenance .. 25,000 +15,000 Fixed deposits .. 133,220 +8,003 Current accounts .. 175.003 +15.351 Creditors, etc .. '218,47,1 +1.8.753 ASSETS 1 Properties, less res. 480,603 -8,154 I Plant, machinery, etc 02,678 -4,125 Investments, etc. . . 181,073 +103,178 Stocks, less reserve . . 311,880 -04,381 Debtors, less reserve 125,042 +24,820 Cash items . . . . 452,707 -5,002 The balancing total of .£1,621,240 shows an increase of X 16,345. Total shareholders' funds at £022,018 are £3012 higher than a year ago, STOCKS IN LONDON LONDON, May 22 May 8 May 22 DalEety (4 p.c. deb.) 100 0 0 100 0 0 British Tobacco . . 117 0 1 17 9 (ioldsbrough-Mort . 12 0 11 o Dalmely . . .. 0 0 0 5 15 0 P. and O. (def.) . . 2 3 3 22 1% GOLD YIELDS NKahere (West Coast). —Four weeks to May 11, treated 130,060 yards for 401oi. Snowy River (West Coast>. — neek, 178o« for 27,000 yards.

CLOSING QUOTATIONS Changed quotations on yesterday's sharemarket were: — Buyers Sellers ,€ s d £ s d Bank. .Australasia . 9 7 0 9 12 0 Com. Bank Aust. . 0 17 s 0 17 11 National Bank XZ. 2 1.S 6 2 18 9 Nat. Bank A'asia . — 13 2 6 Bank New Zealand 2 7 S 'J 7 10 Ditto (D mort.) 1 S 0 1 Id 0 Standard Insurance 1 2 0 4 4 0 Dalgety 8 14 0 — F.C.A. (.£'5 paid) . 5 5 0 5 7 6 0 Goldsbrough-Mort . — 0 1 12 N.Z. Loan and Merc. 67 10 72 0 0 N*A. Frrns'. (B pf.) 0 17 6 0 14 6 Wilcox-Mofflin 0 13 0 Wright-Step, (pref.) 1 5 0 — Pukemiro Coal .. 0 1.8 9 1 1 6 Renown (12/0 0 11 6 0 12 3 Auckland C>as (10/-j 0 7 3 0 7 5 Christchureh 1 (i 0 — Gisborne 0 ■1 6 — 0 Howard Smith 1 0 1 5 North. Steam. (.11/-) 0 10 (i 3 Ditto (M/«J) . . 0 2 1 1 0 6 National Timber 1) 6 3 0 7 1 'arkor- Lamb 1) ■1 0 n I 9 Taiipo Tolara lord.) t) s II 0 9 0 Bonds Hosiery (i (i — Felt and Textiles . •J 15 0 1 — 9 Tiniaru Wool I) .19 9 0 Wellington tpref.) . s 9 II 9 6 Doni. Brew, (ord.) 2 S 9 2 N.Z. Breweries . . •_! 3 6 'J ■1 0 A.C.I 2 15 !t 2 16 3 British Tobacco . . 'J 10 1) 2 6 Broken Hill Pty. . 2 5 9 3 Claude Neon (N.Z.) 1. 1 (> (1 60 — 0 Colonial Sugar .. 59 in 0 0 1.0 Consolidated Brick . 0 0 11 0 3 9 Farmers' Trading: . 3 7 2 1 7 Fletcher Hold, (ord.) 1 9 3 1 9 11 6 3 G.J. Coles . 3 10. 0 3 Henry Jones i> 10 0 2 12 0 Iv.D.V. Boxes (10/-) 0 11 9 0 12 3 Macduffs ford.) .. o 16 0 O 16 8 * Morts Dock . 1 4 0 .L n 0 Moturoa Oil (o/-) 0 1 0 0 2 0 Ditto (pref.) .. 0 1 <> 0 4 0 Forest Products .. 0 6 1 0 6 0 N.Z. X'papers (16/S) 2 4 11 3 9 1 12 0 Heid Rubber 1 Sanford (T/0) 0 S 0 0 9 1 0 Taranaki Oil 0 0 9 0 0 Union Oil (16/-) . William Cable (ord.) 1 9 6 1 1 11 10 0 0 Wilsons Coin. (10/0 0 IS (1 0 IS 9 W'wths (N.Z.), -5/1 3 2 1. 3 <> Ditto (Prop.) . 1 n 0 3 Ditto fSyd.), 5/1 3 3 11 1 0 Aust Found. Invest. o 4 5 2 Martha 0 0 n 0 9 6 Waihi Invests. 0 5 o 0 5 0 Mt. Morgan (2 Hi) 0 7 5 0 S 0 r> Ditto (pref.) 1 1 s 1 2 Stock — OS o 1 .-,.'6/47-19, 2 1 * . OS 2 r, 15/2/49-50, 2 l A . SKI 5 0 or. 15 0 15/0.'52-55. 3 .. 97 12 a OS 0 0 1/a3-56, 3 .. 97 o o 10 0 15'1 '2/5.1-50, 3 . 9S 5 0 9S 15/4/60-63, 3 .. 95 15 0 96 10 0 15ifi/55-oS, 3 .. OS 0 0, OS 2 6 0 15/5/40-52, 4 .. 102 0 102 10

i s d over* £ S d Stk., 15/4/000:3. 3 . . 90 0 0 £10'-! 5 3 5 7 Vic., 15/2/5558, 3 . . US 0 £800 3 4 J Nat, Bk. N.Z. (2) 2 18 i) •JOO 2 11 11 Bank N.Z. (3) 2 7 9 398 2 18 s N'.Z. Brew. . . 2 a 10 1 (10 3 8 5 Bkn. Hill Pty 0 0 150 2 3 t. •_> 13 < Col. Sufiar 59 15 (I 5 FIct. Hldg. (0) l 9 3 1400 4 2 1 G. J. Coles CJ) 3 JO 0 150 '2 10 9 JlaediilTs 0 JO 3 100 3 15 0 lieid Rubber . L 12 0 100 Siiknit" . . 1 4 0 133 5 0 (. Union Oil .. 1 9 0 200 3 7 9 Wilsons Ccin. . 0 1.8 9 100 1 15 7 Wlwths. (N.Z.) 1 3 3 300 2 11 8 Aus. Fd. Trust 0 5 0 1700 4 0 ( Ml. Morgan i>f 1 2 0 300 0 7, 3 Also: Stock, 1/8/46, i'/ 2 (£1000), £99 12s (id; North Broken Hill (100), 52s Od. YESTERDAY'S PRICE CHANGES Previous Sale Variation £ S (1 s d Stk., 15/4/00-03 3 97 VI 0 X Vic., 15/2/55-58, 3 )8 0 0 +2 0 Nat. Bank N.Z. . 2 18 0 + 0 3 Bank N'.Z. . . 'J 7 11 -0 2 Bkn. Hill Pty. . 2 0 3 -0 3 Colonial Sugar Ml 10 0 + 5 0 Fletcher Holdings . .1 9 fi -0 3 G. <1. Coles 3 10 0 + 0 0 Macriuffs 0 17 0 -0 9 Siiknit. 1. 5 0 -1 0 Wilsons Cement 0 1(1 0 -0 3