COMMERCE AND FINANCE

Otago Daily Times, Issue 23637, 22 October 1938, Page 9

COMMERCE AND FINANCE

CANTERBURY MARKETS STILL UTILE ACTIVITY CHAFF IN DEMAND (Per United Press Association) CHRISTCHURCH, Oct. 21. There has been little change in the Canterbury grain and produce markets since the last report. The potato market continues to be completely lifeless. The growers are still offering stocks, but there is no demand. Some merchants report that they have not had a single inquiry for potatoes for a fortnight. Hopes of some slight revival of interest in this market a little later are still held because the new crop in Canterbury is late, but any demand that does develop will be insufficient to make any appreciable difference to the growers’ surplus stocks There has been some inquiry for B Carton oats, and a few orders have been received for Partridge peas. Chaff, too, has been in some demand, but good, bright quality is hard to obtain. MINING NEWS NEMONA RETURN (Per United Press Association! GREYMOUTH, Oct. 21. The Nemona return was 360 z for 106 hours, 11,300yds being treated. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telesraph Copyright) SYDNEY, Oct. 21. (Received Oct. 21, at 11 p.m.) The Stock Exchange to-day was quieter, with little change in prices. W. H. Soul announce an addition of a bonus at the rate of 5 per cent, to the dividend at the customary rate of 10 per cent, in respect to the past half year. THE MORNING SALES

ADDITIONAL SALES

MELBOURNE, Oct. 21. Leading industrials were firmer today. Australian Glass rose sharply on the higher interim dividend. £ s. d.

NATIONAL BUILDING SOCIETY ANNUAL REPORT The thirteenth annual report of the National Building Society, to be presented at the society’s annual meeting on October 27. stated inter alia: — Members’ subscriptions and repayments of loan were regularly maintained during the vear. and in many cases arrears which had accumulated during the depression vear were brought up to date. Members who forwarded their withdrawal notices have now all received their subscriptions in full, with the exception of a few members in No. 3 group, who will be required to wait a month or two longer than the period of notice laid down bv the rules. It will be apparent that as members have no wish to withdraw their subscriptions, appropriations will become more freouent as is evidenced bv the fact that no less a sum than £4BOO is being appropriated at the annual meeting. The financial position of all groups is sound, and the directors are still able to report that no losses have been sustained since the inception of the society. During the year 14 appropriations of £BOO were rrtStle available, the total £11,200, being £3OOO in excess of the amount available in the two previous years. Although heavy withdrawals amounting to no less than £43,852 were made during the slump period, the amount of subscriptions still standing to the credit of members amounts to £40,527 Bs. The above amount of subicriptions is held very securely, as every loan made by the society is now In a safe position. In addition to the safety of the investments, there is a surplus amounting in the three groups to £8274-Bs, which represents realised profit standing to the credit of members. There is als o a reserve of 23603 10s lOd, representing further profits on loans not vet fully repaid It will thus be apparent to members that their subscriptions are well protected. The society has no liabilities and assets in all three groups amount to £53.095 6s lOd. COMPANIES REGISTERED The Mercantile Gazette notifies the registration of the following com♦prnies;— Butterfields (Oamaru), Ltd. Registered as a private company, October 11 Office: 5 Ribble street, Oamaru. Capital: £IOOO into 1000 shares of £1 each. Subscribers: Dunedin —M. C. Butterfield 200, Charles Butterfield 200, M. E. Butterfield 200. Timaru—M. Butterfield 200, R. Butterfield 200. Objects: To take over the business of furniture dealers now carried on in Oamaru by F. and A. Butterfield, to carry on business as manufacturers and Importers of all articles of furniture and general incidental. Matheson’s Grocery, Ltd. Registered as a private company, September 30 Office: Esk street. Invercargill. Capital: £IOOO in 1000 shares of £1 each. Subscribers; Invercargill—G. H. Westerby 099, M. Westerby 1. Objects: Grocers provision and general merchants. Hart Motors, Ltd. Registered as a private company. September 30. Office: Dee street, Invercargill. Capital: £SOOO in 1250 cumulative preference shares and 3750 ordinary shares. Subscribers; Invercargill—C, R. Hart 2500 ord., E. Russell 490 pref., W. R. McNee 750 drd and 750 pref., H. E. Russell 500 ord., A. H. Anderson 10 pref. Objects: Motor dealers and importers.

Central Saleyards, Ltd. Registered October 10. Office; Mersey street, Gore. Capital: £2400 in 2400 shares of £1 each. Subscribers: Charlton —R. K. Dodds 20. Croydon—J. F. Grant 50, G. B. McKenzie 50. Waimumu—G. Smith 50. Gore—G. W. Whittingham 50, G. H. Wright 10, J. W. Kingdon 50. Objects: Saleyards for livestock. ii

Commonwealth Bonds— £ s. d. 4 p.c., 1938 101 10 , 0 4 p.c., 1941 .. .. 102 13 9 4 p.c., 1944 101 15 0 4 p.c., 1947 .. .. .. .. 102 10 0 4 p.c.. 1950 103 2 6 4 p.c., 1955 104 0 0 4 p.c., 1957 .. .. .. .. 104 7 6 4 p.c., 1961 103 7 6 Bank of New South Wales 31 5 0 Tooths .. .. 2 15 0 Australian Glass 4 16 0 Broken Hill Pty. .... .. 2 18 8 Broken Hill Pt, (cont.; N.Z. delivery) 1 19 10* Electrolytic Zinc, (pref.) .. 2 8 0

Bank of New South Wales 31 2 6 Commercial Bank of Australia 0 17 0 Commercial Bank of Syd- ■ K nejr .. .... 20 5 0 E.S. and A. Bank 5 10 0 Union Bank .. .. 8 12 0 Queensland National Bank 4 19 6 Bank of Australasia 10 8 0 Colonial Sugar 48 5 0 Associated News .. 1 i 4J British Tobacco .. 2 8 6 Tooths .. .... 2 14 9 Australian Glass 4 18 0 Anthoriy Hordern 0 15 6 Henry Jones .. .. 2 8 3 Millaquin Sugar .. 1 19 3 W. Adams .. .. U 14 6 W. Atkins .. .. 1 2 3 Woolworth (first pref.) 2 1 6 Electrolytic Zinc 2 4 9 Mount Lyell 1 10 6 Rawang 0 8 8 Larut 0 12 8 Taranaki Oil 0 14 0 Oil Search .. .. 0 7 1

Commercial Bank of Australia .. ....... .. 0 16 10 National Bank (£5 paid) .. 6 17 0 (£ 10 paid) 14 5 0 Bank of Australasia 10 5 0 Huddart, Parker 2 8 9 British Tobacco .. .. 2 8 9 G. J. Coles 3 19 3 Drug Houses .. .. 1 5 0 Australian Glass .. .. 4 18 0 Dunlop Perdriau .. .. 1 0 8 Henry Jones 2 8 0 Herald and Times .. .. 2 17 9 Imperial Chemicals (pref.) 1 2 8 Electrolytic Zinc .. .. 2 4 8 (prof.) 2 7 7 Mount Morgan 0 11 0 Mount Lyell 1 10 4 Broken Hill Proprietary .. 2 18 3 North Broken Hill .. .. 2 10 9 Brokn Hill South .. .. 1 12 4 Emperor 0 12 10 Loloma 1 3 6