FINANCES OF ALBERTA

Poverty Bay Herald, Volume LXIII, Issue 19026, 28 May 1936, Page 15

FINANCES OF ALBERTA

REDUCTION OF INTEREST COMPULSORY' MEASURE (Reed. May 28, 2.40 p.m.) EDMONTON, May 27. A compulsory reduction in the rates of Alberta bonds, including savings certificates, to 21 per cent, which will take effect on June 1, is announced bv the Provincial Treasurer, Mr. Charles Cockroft. The reduction will save £l!0(l,fl0l> annually. Authority for the action is given under the Treasury Bill by the legislation.

SWAN BREWERY HIGHER PROFIT AND DIVIDEND The accounts of the Swan Brewery Company. Limited, Melbourne, for the year ended March 111. disclose a net profit of £110,150, tut increase of £13,900 on the previous year’s total. After providing £3OOO for preference dividends at (1 per cent, the remaining profit equals over 25 per cent on the ordinary capital and ordinary dividends have been raised from 18 per cent to 20 per cent.

MOTUROA OIL FIELDS The report of Mouiroa Oilfields for two months ended April lit) is us follows: —No. 4 well produced 7085 Jmperiol gallons crude oil; total to date, 108,(173 Imperial gallons. No. 2 well produced 1!>,22(i; total, 747,313. No. 1 well produced 1795; total, 21,823.

HASTINGS STOCK SALE The market for fat cattle at the Hastings stock sale yesterday was firm on last, week’s values, particularly for heifers and eows. Bullocks sold to TIG 17s 6d, heifers to £7 15s, and cows to CO As. A number of pens were passed in.

GOLD MINING RETURNS Alataki Junction (Murchison). —Last week, (iSoz. for 123 hours and I(5,000 va ids. Stafford Dredging (West Const). — Week ended May 13, -ISoz. 3d\vl. for J 2(1 hours and 88*31 yards. , Okarito (South Westland). —Last week, 9nz. 2d\vt. for 131 hours. Waipapa Beach (Otago).—-28oz. Llclvvi. for 127 hours.

THE SHAREMARKET (Pur Prnss Association.) AUCKLAND, this day. Sales on ’Change: National Insurance, 17s 9*l; Commercial Rank, 19s Id; Dominion Breweries. 23s- 9d ; British tobacco, 41s 6d: New Zealand Newspapers, ex div.. 45s 3d; Placer, £5 1.75; Woolworlhs (N.Z.). £7 19s; Talisman, 11s; Auckland Gas. 25s lid; Wilsons Cement, 45s 6d ; Bank off New Zealand, 5s Sd; Australian Class, 90s 9d: Government stock, 1046-49. £lOl ss; Claude Neon (N.Z.). 41s. WELLINGTON, Ibis day. Sales on ’Change: E.S. and A. Rank. £6 5s 9d ; G. J. Coles. C 3 18s 4d : Australian Glass, £4 10s 6d. C 4 lis ; Broken Hill, £5 4s 6d, £5 4s 3*l: Woolworlhs (N.Z.). £8; Consolidated Brick, 10s Id; Wool wort lis, Ltd., ex bonus issue, £5 O.s 6d. CHRISTCHURCH, this day. Sales on ’Change : Commercial Bank of Australia. 19s; Mortgage Corporation, 10s, paid, 11s (3): New Zealand Breweries. 53s 9d (5); British Tobacco, 41s ■sd; Broken Hill Proprietary- 64s (2): Hume Pipe (AusL), Bis 5d : Argo Gold. Is 6(1 (2) ■ All. .Morgan, 14s 3d. 14s 2'd ; G. J. Coles. 78s 9,1; Woolworlhs (Sydney), mil. c\ rights. £5 Is Gd (2), £5 Is. £5 Is 6d (2). DUNEDIN, this day. .Sales reported: .Southland Frozen Aleat, con., £1 18s 6d; .Mortgage Corporation, 10s 6d; New Zealand Newspapers. C2 3s 6d- cum div. ; Dunlop Rubber, 17s 6*l: CL .!. Coles, £3 18s 6d; Mount Morgan, 14s 6d.