COMMERCIAL

Poverty Bay Herald, Volume LXIII, Issue 19025, 27 May 1936, Page 13

COMMERCIAL

NO FURTHER CALL MORTGAGE CORPORATION (I’er Press Association.) WELLINGTON, lust night. Referring to the pending introduction of legislation to transfer the Mortgage Corporation to the Government, the lion. W. Nash, Minister of Finance, announced that the board of the corporation had decided not, to make the call of 10s referred to in the prospectus issuel in Mav last year.

This means, said Mr. Nash, that no further call on the shares will be made.

LONDON APPLE MARKET DEPRESSED CONDITIONS The High Commissioner's cable message from London, received by the liepart,men! of Agriculture on Monday states : “Apples and pears ex the Port Brisbane, Mnmari. YVaimana, Healamlic and Turnkina are in good condition. The market is depressed. Prices : ‘‘Apples. — Cox's Orange, Ca nt erbiirv12s. to 18s; Granny Smith, 12s to 15s; Stunner and Ballarat. 8s to 9s 6d; Jonathan, Delicious, Cleopatra and Statesman, 7s to 9s: Ilium's Favourite. London Pippin and Lord Wolseley, Bs. 'Tears. —Cornice. 12s to 15s; Winter Nelis, 10s to Us 6d ; Winter Cole. Packham’s Triumph, 8s to 9s; Vicar ot Winkfield and Duchess, 7s to Bs.

ORIENT STEAM USE OF AIR SERVICES Legal sanction has been given to the Orient Steam Navigation Company. Limited, to alt o’, its objects so us tc include the establishment of air services. The company proposes to extend its objects by obtaining power to establish aim maintain air transport services, ant: generally to carry on the business of ear riers by air, and to manufacture, purchase, or otherwise acquire aircraft oJ any description.

SYDNEY EXCHANGE BANKING SHARES STEADY SYDNEY, May 25. Further reaction to the tariff revision made for a. strong market on the Syd net Stock Exchange to-day in shares oi com pnnies likely to he most affected by tin increased duties and import Vesliiclions Buyers displayed a particular interest n the iron, steel and textile industries Banking shares maintained last week ; improvement, while tin script had large, business in anticipation of an inereasi in the internatonal production quota. Sales included:—Bank ot New South Whiles, £33 ss; Bank of Australasia, £IL 2s; Commercial Bank of Sydney, £2(. 10s, £2O 12s ; Golclshrough Mort. £1 12: 71 d • Adelaide Steam, £1 10s 3d ; Howard Smith. 17s lid; Huddart-Purkcr. £1 16s 6d; Tooth’s Brewery, £2 12s; Toohey’s Brewery, £1 Us 9d ; Amalgamated Textiles, 10s lOd ; Anthony Hordern. 19s; Associated News, £1 2s ; ditto (prof.), £1 3s 9d; Australian Glass £< ils- Automatic Totalisators. 19s 6d : British Tobacco, £2 Is 9.1 : Broken Ifii) Proprietary, £3 4s 9d, £3 ss; ditto (new), £2' Is; Gash Orders, £1 4s 6d; David .Jones, £2 3s 6d ; Dunlop Perdriau, 18s, 18s 3d : Drug Houses, £1 10:9d ; Farmers, £1 9s; General Industries. 19s 7£d; G. .1. Coles, £3 19s 6d ; Hotel Sydney, 15s 3d ; Hume Pipe, 19s ; Kandos Cement, £1 3s; Lustre, £1 5s 3d: Mark Foy, £1 5s 3d; Mauri Brothers. £2 18s; Sargents, £1 4s 9d; Standard Cement, £1 Is 9d ; United Provisions. 13.lld ; W. E. Carpenter, £2 3s; Woolworths (2nd prof.), £1 6s ; Emperor, 12s 5d ; Loloma, 18s 9d ; Mount Morgan, 15.U<i; Placer Development, £5 16s 6d • Commonwealth bonds, 4 per cent, 1938. 9103.

Melbourne Exchange. Commereia 1 Bank of Australia. 19s 5d ; ditto (prof.) eo 9 S . F„. S. and A. Bank. £6 4s: G. .7 Doles, £3 19s 3d : Herald and Week!' Times, £3 8s; Nestles (prof.). £1 14s 3d • Emperor. 19s 7d ; Mount Lvell. £1 46d ; Mount Morgan, 15s 3d.

DOMINION FERTILISER RECORD YEAR EXPERIENCED “Both in production and in Miles lh. vear just past was a record one for tin company, and likewise the profit earnei. was the* largest in the history of the company,’’ stated the chairman of dim tors, _\lr. Robert G. Hudson, at the annual meeting ol' shareholders of the Dominion Fertiliser Company, Limited. -Mr. Hudson sfiid that, after making full provision for depreciation, income tax and paying all charges, the profit for the yeai amounted to £17,422, or an increase ol £1497 on the previous year. .Mr. Hudson said they would note from the report that subsequent to the closing, of last year’s accounts the directors had made further provision for depreciation to the extent of £1485. This sum was allowed by the Commissioner of Taxes in addition to the provision of £7460 made in last year’s accounts, and resulted in a saving of income tax amounting to £347 for the year under review. The sum of £8717 had been allowed by way of depreciation, and the total sum provided by way of depreciation during the five years in which the company’s plant had been operating now amounted to £40.796. During the same period the sum of approximately £19.500 had been applied in the reduction of preliminary expenses and establishment accounts, and the balance of the establishment account, amounting to £IO.OOO. was now the only unsubstantial item in the halance-sherl. ‘•The balance-sheet of the company shows a si rung liquid position.” said Mr. Hudson. ‘The accounts under review show that investments have increased during the year bv £31.840. and likewise raw and mnnuiacl ured stocks have increased bv £11.491.’

The annual report was adopted and payment of dividend of 41 per cent on all shares was approved.