COMMERCIAL

Poverty Bay Herald, Volume LIX, Issue 17946, 25 November 1932, Page 8

COMMERCIAL

GOLDSBROUGH MORT NO INTERIM DIVIDEND (Elec. Tel. Copyright—United Press Assn.) - 8 YDNId V, Nov. 24. The directors ol: 11 old h, Mqrt, and Company, Limited, intend to await, the ligates for the full year ending March til next, before making any recommendation regarding a dividend on the current year’s trading. SYDNEY STOCK EXCHANGE SLIGHTLY BETTER TONE SYDNEY, Nov. 23. On the Stock Exchange to-day operations in the investment, market had a slightly improved tone, but the turnover was restricted. Kales: Bank of New South Wales, £3O 10s; Commercial Bank of Sydney, £l6 os; National Bank of Australasia, £3 paid, £6 7s (id; Queensland National Bank, £5. os; Colonial Sugar, £52 10s; Adelaide Steam, 21$ (id; Henry Jones, 39s (id; Tooth’s, 3(is 3d; Toohcy’s, 21s (id; Goldsbrough, Mort, 25s 4-id; Australian Gas, A,.£o 19s; British Tobacco, 355; Electrolytic Zinc, prof., 28s 9d. Commonwealth bonds,. 4 per cent., 1938, £lO2 15s; 1941, £loll6s 3d; 1944, £lOl (is 3d; 1947. £101; 1950, £lOl 17s (id; 1957, £IOO 11s 3d; 1959, £IOO 15s; 1901, £lOl.

Morning sales: Commonwealth bonds, 4 per cent., .1938, £IOB 12s Od; 1941, £IOO Ids 3d; 1944, £lOl ss; 1950, £lOl (is 3d; 1953, £lOl Us 3d; 1955, £lOl Bis 3d; 1957, £IOO 7s (id; 1959, £IOO 11s ;?d; 1961, £IOO 16s 3d. Broken Hill Proprietary, 25s 3d; British Tobacco, 355. MELBOURNE, Nov. 23. Kales: Union Bank of Australia, £9; Herald-'Weekly Times, 57s 9d; Australian Glass, 44s 3d; Gordon and Gofceh, 325; South Broken Hill, 48s 6d. MARKET UNCHANGED SYDNEY WOOL SALES CLOSE SYDNEY, Nov. 24. At the wool sales, 12,761 bales were offered and 11,549 sold, and 538 bales were disposed of privately at the closing sales of the series to-day. All sections operated freely. The market remained firm and values were unchanged for all descriptions. Greasy | merino made 23Jd. CENTRAL BANKING IN AUSTRALIA One of t he considerations which may have .weighed with the New Zealand Government in its decision to form a central reserve bank, says the London Times in. its trade supplement of October 8 last, may be the fact that the Bank of New Zealand could hardly be converted into a central reserve bank by reason of the impracticability of establishing, in accordance with accepted principles, a central bank which possessed large commercial connect,ions. i “Further,” the journal goes on to say, “(lie virtual conversion of the Commonwealth Bank of .Australia into a central reserve bank has in many ways proved of great service to Australia. Its stand against, the improve dent financial courses of ..socialistic legislators which threatened to' plu'ftge ' (he Commonwealth into disasters from which her .recovery w’ith.iji. 'a/ generation might have been impost, sible, will long provide a (standing example of the value of an independent central bank.” It is noted in., (lie comment that freedom from political control was one of the points enunciated in the scheme.of Sir Otto Nicmcyor. SHIPPING EARNINGS _____ i LONDON, Nov. 17. j The Daily Telegraph, commenting ! on the P. and O. Company, and the Orient Steam Navigation (Company, passing dividends, says:—“The fall in shipping earnings through the decline in the volume of international trade, and the failure of freight rates to show substantial recovery, was a foregone conclusion. I*. and O. deferred stock touched 15s (id, after the announcement. The fine dividend record of this leading lino has, unfortunately, been broken, but it can be assumed that prudence determined the board’s decision.”