COMMERCIAL

Poverty Bay Herald, Volume LXIII, Issue 19100, 22 August 1936, Page 8

COMMERCIAL

DOMINION BREWERIES j ISSUE OF 40,000 SHARES Dominion Breweries, Limited, proposer, to raise an extra £45,000 capital ; by the issue of 40,000 ordinary shares 1 of £1 ai a premium of 2s (id. The offer is being made in the first instance to shareholders in the proportion of one? share for every three held, ilie closing date for applications being' September 0, The first payment on the new shares will be "is a share (2s Gil premium and 2s Od application money), to be followed by 2s Od on allotment. The balance is payable by calls, noj exceeding 2s fid a share, a! intervals of not less than a month. All payments, other than premiums, will rank for dividend as from date of pnyment. In a circular to shareholders, the directors state that the company has arranged three major transactions affecting freehold hotels, the lluutly Hotel, the Tnihape Hoi id and a halfshare in the Central Hotel, Auckland. In addition to the purchase of these hotels, the company has made further commitments on capital account in I goodwill payments in respect of hotels leased, ihr purchase of furniture, ! stock, etc., trade loans and new plant on order for the brewery. A consider- • able part of the cost has been covered out of the liquid resources and euri rent earnings of the company and the balance of the finance now required can be advantageously raised by way of share capital. The premium on slimes allotted will be applied exclusively as an addition to the company's existing general reserve fund. The company's trade during the present financial year has continued to expand at a satisfactory rate and substantial profits are being earned. Compared with the position in the corresponding months of last, year, the brewery turnover shows an .'increase of over 3ft per cent, and the

trade of the company's hotels is continuing on a, satisfactory basis. The company has a. nominal capital of £250,000, paid capital aT March 31 being £108,510. ■ The ordinary shares were quoted ex rights on the Auckland Stock Exchange yesterday ai 2Ss buyer and 29s seller, a drop of .Id and Od'respesfivoly. Buyers for the rights closed at 3s and sellers at ss, AUSTRALIAN SHARES LEADING INDUSTRIALS STRONGSYDNEY. Aug. 20. Leading industrial issues were strong and values tended higher on. the Stock Exchango to-day. Pastorals were also firmly quoted. ' Commonwealth bonds were irregular. Sales: Hank of New South Wales. £33 10s; Commercial Banking Company of Sydney, £2O 3s; Commercial Bank of Australia, 18s 7JUI; Colonial Sugar, £43 10s- Adelaide Steam, 29s Od ; Australian Gas', A, C 7 10s. British Tobacco. 41s 6d ; ditto, pref.. 20s; Tooths. 545; Tooheys. 33s 3d : C. .1. Coles. 83s 3d; Australian Class. 03s; Farmers, 32s T'.d; Anthonv llordern. IBs lid.' General Industries. His 6d; Australasian Paper, 34s 6d ; Commonwealth Wool, 18s 6.1: Kargents, 20s 3d; Autoinatic Totes. 19s 6d. Cash Orders, ex die. 28s 3d; Pitt, Ron and Badgcry, ex div.. 425; Morts Hock, 10s 4d; Woolworths, Ltd., ord., buyer £5 14s, seller £5 15s 6d. South Broken Hill. £5 17s: North Broken Hill, £9 4s 6d; tCnala Kampar Tin. 14s 2d: Lady Shenton, 2s 1.1; Emperor, 16s 3d. Morning sales included : Commonwealth bonds. 4 per cent, 1938. £lO2 3s Od; 1953, £IOO 15s; .1961, £lOl 15s: Commercial Bank of Sydney, £2O 4s; Australian Gas, A, £7 10s; Tooheys, 33s 3d: Australian Class, 935; British Tobacco. 41s 6d: Broken Hill Proprietary, 75s 3d; Henry Jones. 43s 6d; James Stedman, 19s 10£d; I!. Fowler, 14s 7d ; Sargcnts, S9s. MELBOURNE, Aug. 20. Sales on the .Melbourne Stock Exejiange to-day included : Commercial Bank of Australia. 18s 9d;, National