COMMERCE AND FINANCE

Otago Daily Times, Issue 24631, 12 June 1941, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE YESTERDAY’S SALES DUNEDIN

AUCKLAND Sales on ’Change.—Stock, 15/3/40-43, 4 p.c., £lOl ss; National Bank of New Zealand,. £1 13s 3d; Bank of New. Zealand (D mprt.), £1 9s; Union Bank, £6 10s; National Insurance (3), 18s 6d; New Zealand Insurance, £3 3s 6d; South British (2), £2 12s 6d; Auckland Gas (odd lot), 5s ’9d; Kaiapol (paid), 15s. 6d; Dominion Breweries, £1 9s 3d; New Zealand Breweries, £1 11s 6d; Aus. Alloy Steel, 8s; Broken Hill Pty:, £2 2s 6d; Colonial Sugar (late sale), £52 10s, £52 15s; Milne and Choyce (pref.), £1 Is; New Zealand Fertiliser (pref.), £1 2s; Reid Rubber (rights), 3s 6d; Taranaki Oil Fields (2), ss; Taranaki Oil Development, 2s; Woolworths (Syd.), 16s, Overseas List: Woolworths Holdings (South Africa; 2), 15s. WELLINGTON - Sales on ’Change.—Taranaki Oil Developments (late Tues.), 2s; 4 p.c. Stock, 1943, £lOl ss; 3 h p.c. Stock, 1953-57, £lOl 17s 6d; National Banlr of New Zealand, £1 13s 3d; Bank of New Zealand, £1 16s 6d; Kaiapoi Woollen, 15s 9d; Imp. Chemicals (pref,), £1 4s; Wilcox Mofflin, 9s. Unlisted Stock: New Zealand Wool Pack (late Tues.), 3s. CHRISTCHURCH Sales on ’Change.—Colonial Sugar £53; Dunlop Rubber, £1 Is lOd. Sales Reported: New Zealand Government 3J p.c. Stock, 1953-57, £lOl 15s; National Insurance, 18s 4d; Canterbury Frozen Meat, £10; New Zealand Breweries, £1 lls“9d. £1 11s 6d; New Zealand Farmers’ Co-op. (4J p.c. Stock, 1955), £BO 10s; Mount Morgan (2), 9s. /

LATEST- QUOTATIONS GOVERNMENT LOANS

MINING NEWS NOKOMAI RETURN The -secretary, of the Nokomai Gold Mining Company, Ltd., reports that the final wash-up of the took place last Saturday. The return from this wash-up. was 2130 z 2dwt, which, added to the previous partial return 0f'4660z lldwt, resulted in a total return of 6790 z 13dwt for the completed paddock, which measured a little under a third of an acre of bottom. - - - DEVONPORT FERRY COMPANY (Special) AUCKLAND, June 11. The operating profit of the Devonport Steam Ferry Company. Ltd., for the year ended April-30-was £17,065, compared with £21,077 a year ago. The sum of £2400 is brought in from the repairs reserve, which remains at £IO,OOO. Taxes absorb £12,104, arid the unchanged dividend of 5 per cent, (final 2J per cent.) will require £7500.

BANK OF NEW ZEALAND NET PROFIT OF £461,909 (P.A.) WELLINGTON, June 11. The report of the directors of the Bank of New Zealand, to be presented to the ordinary general meeting on June 20, states that for the year ended March 31 —

COLOMBO TEA SALE Mr L. M. Wright has received the following cabled report on the Colombo Tea Auction of June 10: All grades were in strong demand, American and African buyers'being particularly active. At close of sale quptations advanced Jd to Jd for common teas; about Id for medium kinds; and Jd to Id for fine quality grades. For the auction next week 1,750,0001 b have been catalogued. AUSTRALIAN STOCK EXCHANGES (Rec. 0.30 a.m.) SYDNEY, June 11. A steady undertone prevailed on .the Stock Exchange to-day, but business was less active than yesterday. The Morning Sales.—Commonwealth Bonds, 4 per cent., 1941, £IOO 3s 9d: 4 per cent., 1961, £lO9 12s 6d; Austral Gas A, £4 16s 9d; Associated News (pref.), 15s; Farmers, £1 4s; Fairymead Sugar, £1 12s 3d. Additional Sales—Commercial Banking of Sydney, £l7 18s; Colonial Sugar* £47 15s; G. J. Coles, £2 19s 6d; Toohey’s, £1 7s 4d: Consolidated Industries (cont,), £1 17s 3d; Bond’s Industries- (rights), 5s lOd; Kandos, £1 10s 9d; Henry Jones, £2 Ss 3d; Millaquin Sugar, £1 18s 9d; Mount Lyell* £1 5s 10d; Broken Hill Proprietary, £1 19s Id, Broken Hill Proprietary (cont.), £1 3s Id; Loloma, £1 3s 7ck MELBOURNE, June 11. . British Tobacco, £2 3s; Dunlop Perdriau, £1 0s 6d; G. J. Coles, £2 19s 6d; Loloma, £1 3s 9d; Emperor, 10s 3d; North Broken •Hill, £1 15s. John M. Fraser and Co., Ltd., selling agents for Otago and Oamaru Egg Circles, report as under:— Eggs—heavy grade 2s lOd, standard 2s Bd, medium 2s 6d, pullets’ 2s Id; dairy butter, pats lid to Is Id, bulk Is Id; potatoes, -9s to 10s per cwt; chaff, £6 10s per ton, sacks extra; Canterbury onions, 12s per cwt; whole fowl wheat, to 6s 9d per bushel; honey, 7d to 8d per lb; 51b tins and 101 b tins wanted. Poultry.—White Leghorn hens, 5s to 6s: heavy breeds, 5s 6d to 6s 6d; cockerels, light ,4s to 6s. heavy breed 7s to 8s; roosters, 2s to 4s; ducks, 5s to 7s; ducklings, 5s to 7s, all per pair; turkeys, gobblers 8d per lb; live weight hens, 7d per lb. We stock C.F.M. meatmeal. butter milk powder. We are Otago agents for Champion egg crates, Sol-Vit-Ax, cod liver oil for poultry. Prices on application. . (Sonsignors, please note that all poultry must arrive not later than Wednesday morning of each week. We have a stock of poultry crates on hand for use of our clients.

Sales Reported £ S. d. National Insurance . 0 18 6 New Zealand Breweries .. .. 1 11 4» 1 11 8 Mount Morgan ■ . 0 9 0

Buyer. Seller. — — £ S. d £ S. d 3z p.c., 1953-57 101 0 0 — 4 p.c., 1940-43 .. 100 15 0 4 p.c. Bonds, 1943-46 .. 102 0 0 4 p.c. Stock, 1943-46 .. — 103 10 0 4 p.c. Bonds, 1946-49 .. 103 0 0 — 4 p.c. Stock, 1946-49 .. 103 5 0 — 4 p-c.. Nov,, 1948 102 0 0 — 4 p.c. Bonds, 1952-55 .. 106 0 0 — 4 p.c. Stock, 1952-55 .. 106 10 0 — War Loan, 1953 ..' .. 83 0 0 — MINING Austral N.Z, (£1) -;v — 1 4 3 Grey River (10s) — 0 16 0 Okarito (5s) .. .. 0 0 10 — BANKING N.S.W. (£20) .. .. 28 0 0 New Zealand (£1) .. 1 16 0 1 16 9 Comm, (pref.; 10s) .. 0 13 10 0 14 0 Natl, of N.Z. (£2 10s) — 1 14 6 Natl, of A’asia (£5) — 5 16 6 Union (£5) .. .. .. 6 10 0 6 12 6 INSURANCE National (7s) .. .. 0 18 5 South British (10s) .. 2 11 9 — Standard (£1) .. .. 3 0 0 “ - SHIPPING P and O. Stock (£1) 1 5 0 U.S.S. Co. (pref.; £1) *1 6 0 — MEAT PRESERVING N.Z. Refrig, (pd.; £1) 0 16 6 N.Z. Refrig, (con,; 10s) 0 7 2 0 7 6 South. Froz. Meat (£1) — 1 12 6 Waitaki Farmers (£5) — 4 15 0 LOAN AND AGENCY N.M. (B issue; £1) .. — 1 1 6 L. and M. (ord.; £100) 26 10 0 — Perpetual Trust. (18s) •2 10 0 2 11 9 Trustees, Exec. (£3) 4 2 0 — Wright S. (ord.; £1) — 0 19 9 Wright, S. (pref.; £1) 0 19 G — GAS Auckland - (£ 1) .. . -. 0 5 6 — COAL AND OIL Kaitangata (16s) — 1 12 0 Westport (10s) .. — 1 3 4 W.-Stock, (pref.; 10s) — 0 6 9, Moturoa Oil (pref.; 5s) — 0 5 0 Taranaki Oil (24s 7d) 0 4 0 — WOOLLEN COMPANIES Bruce (pref.; £1) 1 0 3 ' Kaiapoi (ord.; 17s) .. 0 15 3 — Kaiapoi (cont.: 7sj 0 4 10 — Oamaru (£1) .. .. 0 19 4 — Timaru (£1) — 0 15 3 Wellington (pref.; £5) 6 15 0 — MISCELLANEOUS A.C.I. (£1) 2 3 0 — Broken Kill Pty. (£1) 2 2 3 2_ 3 0 Consol. Brick (£1) .. — 0 7 U Crystal Ice (£1) 2 7 0 — D.I.C. (pref.; £1) 1 3 9 — 6 Dom. Fert. (£1) 1 5 Dom. Rubber (£1) .. — 1 0 0 Donaghy’s Rope (£1) 2 10 0 2 12 6 MacDiiffs (ordj £1). — 0 10 0 MacDuffs ■ (prefu £1) — 0 19 6 Milburn Lime (£11 .. — 1 17 6 Natl. Electric (£1) -. 0 19 9 11 0 N.Z. Paper'Mills (£1) 1 10 0 1 Regent Theatre (£1) — - 9 0 19 6 Wilsons Cement (10s) 0 18 0 — Wool worths (N.Z.; 5s) — 13 4 Wodlworths (Syd.; 5s) 0 16 0 0 16 3 W. Properties (£1) 1 4 0 BREWERIES 0 10 0 0 11 0 New-Zealand (£1) .. 1 11 3 1 11 9 Dominion (£1) . : . .. ■1 9' o: — Dunedin (£1) .. .. — 1 1 9 AUSTRALIAN MINING Broken Hill South (5s) 1 2 0 — Elec. Zinc- (ord.; £1) 2 12 0 — Elec. Zinc (pref.; £1) ’ 2 14 0 — Mount Lyell (£1) .. — 10 1 8 0 Mount Morgan - (2s 6d) 0 8 0 9 1 North Broken Hill (5s) 1 15 0 2 0 0 * Ex dividend. UNLISTED STOCKS , Otago and Southland 8 Finance .. .. 0 1 — Mackintosh Caley 0 Phoenix 0 10 O' — J. J. Niven and Co. .. 0 8 4 8 10

£ s. d. The profits after providing for expenses of manage- - ment and for all bad and doubtful debts and other contingencies, and after . making provision for the annual donation to the provident fund, were .. .. 461,909 4 - 5 To which has to be added the balance brought forward from last year 392,309 18 10 Total £854,219 3' ’ 3 From which has been paid dividend on -preference A 50,000 shares 0 .0 Interim dividend on C longterm rportgage shares 7,031 5 : 0 Interim dividend on D long-. term mortgage shares 17,578 2- ■ 6 Interim dividend on preference B shares 31,250 0. 0 Interim dividend on ordinary shares 187,500 0 0 Totalling .. £293,359 7 6 Leaving available for distributioh 560,859 15 9 This sum the directors propose should be disposed of as follows: — Dividend on C long-term mortgage shares at 6 per cent, per annum 7,031 50 Dividend on D long-term mortgage shares at 7f per cent, per annum 17,578 2 6 Dividend on preference B shares (making £62,500 for the year) 31,250 0 0 Dividend at the rate of 3 per cent, on ordinary shares (making £300,000 for the year, equal to 8 per cent.) 112,500 0 0 Leaving a balance to be carried forward of 392,500 8 3