COMMERCIAL

Poverty Bay Herald, Volume LX, Issue 18163, 10 August 1933, Page 9

COMMERCIAL

NEW STATE LOANS ISSUE OF CERTIFICATES Stock certificates, showing the allocations of,the new converted Government securities, are now being issued by the Treasury Department to holders of these issues. It lias pointed out by an investor that whereas his holding was formerly confined to two issues involving four interest payments in one year, now ho holds stock in four issues and will receive eight separate payments in a year. He contends that this arrangement, if general, will mean considerably more clerical work for the Treasury. The official view is that this disadvantage is slight compared with the immense benefit in spreading the Government’s interest commitments evenly throughout the year. In future, there will be an interest payment in every month of the year, while formerly there were particularly heavy outgoings in the first and third quarters. In addition, some holders will possibly appreciate spread payments giving them a steady return. Many inquiries from persons who considered their payments were short were received at the district 'office of the Treasury when a payment of interest was made on July 15. Holders lost sight of the fact ‘that their holdings were split into several issues and further payments will be made on August 15 and October 15. Tho confusion would have been avoided if each holder had received notice to this effect.

ACTIVE MARKET SYDNEY STOCK EXCHANGE . SYDNEY, Aug. 8. Oil the Sydney Stock Exchange to-day the market developed considerable activity, resulting in a heavy turnover. Banks improved, and front rank industrials were generally firmer.. Gilt-edgeds were steady. Sales: Bank of New South Wales, £33 2s 6d; Commercial Bank of Sydney, £l7 12s; Colonial Sugar, £59 15s; National Bank of Australasia, £5 paid, £6 6s 6d; Australian Provincial Assurance, 11s 8d; Mercantile Mutual Insurance, ' 19s; Australian Gas, £7 5s 6d; Anthony Hordern, 10s 6d; ditto, pref., 19s lid; Burns, Philp, South Sea, 345; Associated News, 8s 4d; ditto, pref, 19s; Dunlop Perdriau, 18s 4^d; Henry Jones, 38s 6d; Standard Cement, 16s; Meggitts, ex dividend, 19s 6d; Tooths, 39s l^d; Tooheys, 245; United Provisions, 8s 8d; Bulolo Gold, 85s 3d; Bulolo Deposits, 2s lid; Mount Lyell, 22s l£d; Broken Hill Proprietary, 37s 3d; North Broken Hill, 84s 6d. Commonwealth Bonds, 4 per cent., 1938, £103; 1941, £lO3 16s 3d: 1944, £lO4 8s 9d; 1947, £lO4 15s; 1950, £lO5 10s; 1953, £lO4 2s 6d; 1957, £lO4 15s; 1959, £105; 1961, £lO5 7s 6d. Morning sales included: Tooth’s, 39s 3d; Associated News, 8s 4d; ditto, preterenee, 18s lOJd; Broken Hill Proprietary, 37s 4Ad ; Colonial Sugar, £59 15s; Dunloy-Perariau, 18s 6d; Goldsbrough Mort, 275. | . MELBOURNE, Aug. 8. Sales on the Melbourne Stock ExI change to-day included: Commercial ißank of Australia, 16s 8d; DunlopPerdriau, 18s sd.

A net. revenue from fire, marine 'and accident premiums of £1,008,530, compared with £1,050,351 in the previous year, is sihown in the ninty-fiffh annual report and Balance-sheet of the New Zealand Insurance Company, Limited, for the year ended'May 31. ' With returns coming to hand from Home it is apparent that farmers who shipped lambs Home oil their own. account will' this year benefit considerably By their action, writes an Oaniaru correspondent. One return just received shows that 3(s ’s and and 36/42’s realised fijd,’ overs 6Jd, and seconds 5Jd. An Oanjaru business man reports that indications point to. lahi'bs opening up this coming season at. about 'lßs, and 'that an optimistic .yiew is held of the rise in wool continuing. He reports that at present there is an exceptionally good inquiry for small farming properties in North Otago.