COMMERCIAL

Poverty Bay Herald, Volume LIX, Issue 17953, 3 December 1932, Page 14

COMMERCIAL

SYDNEY STOCK EXCHANGE LEADING INDUSTRIALS FIRM (Elec. Tel. Copyright—United Press Assn.) SYDNEY, Dec. 1. The investment market is quiet, with buyers and sellers holding olf pending the outcome of the internal loan and the settlement of the overseas debts position. Commonwealth loans are tairly steady. Banks are dull, but the trend oi prices for leading industrials is higher. bales: Bank of New South Wales, ex dividend, £3O ss; National Bank, £5 paid, £6 2s 6d; Colonial Sugar, £53; do., New Zealand delivery, £52 17s 6d; Burns, Pliilp, 495; Gordon and Gotch, 31s 6d; Goldsbrough, 24s 6d; do., New Zealand delivery, 24s 6d ; Tooth’s, 355; Austral Gas A, £6 18s 6d; Electrolytic Zinc, 17s lid; do., pref., 28s; Henry Jones, 37s 3d; ex dividend, 375; Dunlop Perdrinu, 16s 7£d ; pref., 325; Taranaki Oil, 3s; Broken Hill I’py., 25s 4^d. .Morning sales : Commonwealth bonds. 4 per cents., 1941, £IGO 13s Od ; 1244, £IOO 16s 3d; 1947, £101; 1950, £lOl ss; Bank of N.S.W., ex dividend, £3O ss; Broken Hill Proprietary, 255; Tooth’s, 34s 7£d. MELBOURNE, Dec. 1.

Sales: Commercial Bank of Australia, 16s 3d; do., prof., £8 3s; National Bank, £5 paid, £6 3s bd ; Dunlop Perdriau, 16s 6d; South Broken Hill, 48s; North Broken Hill, 725; Taranaki Oil, 3s Id.

AUSTRALIAN MARKETS WHEAT AND FLOUR STEADY SYDNEY, Dec. 1. Wheat at silos was offered freely to-day at 2s 10Jd, bagged being available at 2s 10|d a bushel. Country rates for bagged are 2s 3Jd, equal to ! j 10| cx trucks, Sydney. Flour, £9 lbs a ton. Bran and pollard, £5 10s a ton. Potatoes: Tasmanian, to £6; Victorian, to £4 10s a ton. Onions, Victorian, to £10; QucenJand brown, to £8 a ton. Oaten hay, to £7 10s a ton. Maize, yellow, 6s a bushel. ADELAIDE, Dec. 1. Wheat: Growers’ lots, old season’s 2s lOd; new season’s,-2s 9sd. Flour, bakers’ lots, £7 17s Cd a ton. Bran, £5 7s 6d a ton. Po’lard, £5 17s 6d a ton. Oats, Is 5d to Is 6d a bushel. HEAVY BREWERY TAXATION SYDNEY, Dec. 1. The chairman of Tooth’s Brewery, addressing the annual meeting, remarked that excise duty and other forms of taxation absorb: 1 70 per cent, of the selling price of beer. No other industry was carrying such a burden of taxation. THE PRICE OF GOLD (Received Dec. 3, 11 a.m.) LONDON, Dec. 2. The price of gold to-day is quoted at £6 7s 3d. NEW YORK EXCHANGE (Received December 3, 11 a.m.) NEW YORK Dec. 2. The pound closed cents lower at 320 f cents for cables to-day, fractionally higher than the noon quotation. The Canadian dollnr closed f cent down at 85 cents. COMPANY REGISTRATIONS

Recent company registrations include the following;— Best .Service Station Ltd. Registered November 15, 1932. Office: Good’s Buildings, Gladstone road, Gisborne. Capital: £2500 into 1000 ordinary shares of £1 each and 1500 7 per cent, non-cumulative preference shares of £1 each. Subscribers: Gisborne —F. A. Neill, H. F. Wise, D. Watt, A. F. Owen, J. Boag, AY. S. McKee, J. 11. R. Egan 5 shares each. Objects: Service station proprietors and incidental. Phillips (S. II.) and Co., Ltd. Registered as a private company, November 22, 1932. Office: Corner Gladstone noad and Peel street, Gisborne. Capital, £3OOO into 3000 shares of £1 each. Subscribers: S. H. Phillips 2800, D. Phillips 200. Objects: Drapers and incidental.

WOOLWORTKS (N.Z.), LTD. The third annual report and accounts if Wool worths (N.Z.), Limited, for the year ended October 3, disclose a net profit of £30,706, after providing £14,473 for taxation. This amount compares with £19,240 in the previous year, an increase of £11,466. Out of the declared profit, the directors recommend a dividend for the year of 9 per cent, on the cumulative preference shares, absorbing £3448, and 20 per cent, on ordinary shares, absorbing £lO,3GO. and to provide £B6OO for the elimination of establishment charges. The balance, £7768, is to bo transferred to general reserve, increasing it to £21,162. Tn respect of these recommendations the full amount on preference shares and an interim dividend of 10 per cent, on ordinary shares have already been paid. Tho report of the directors states that during the year capital was increased to £lO/1,450, by the issue of 20,000 9 per cent, cumulative preference shares of £1 each at a premium of Is a share. The affairs of the company progressed favorably during the year and all branches of tho company were operating successfully, During the period’ operations woro extended to Dunedin. Tho sales maintained a steady increase, and showed an improvement of 39.7 per cent over tho previous year The profits, before providing for taxation, were £15.280 in excess of the previous year, an increaso of 51.1 per cent.

NATIONAL TOBACCO CO. Tlio annual report of the directors of tlio National Tobacco Company, Limited, states that cash in hand and at bankers amounts to £70.315, including £40,C00 on fixed deposits, earning interest at an average rate of 4i per cent. After deducting all charges and allow ing £22,0C0 for income tax there is a balance of £43,411 net profit for the year. To ihis must be added the balance of £1799 brought forward last year, making a total of £45,210. Out of this the directors recommend again the distribution of a dividend of 15 per tent, on ordinary shares and 8 per cent, on preference shares, absorbing £17,896, transfer to reserve £20,000, and carry forward £7313.

A net profit of £35.451 was .shown by the company last year and £6231 was brought forward from the previous year A dividend of 15 per cent, has been paid on ordinary shares' for several