COMMERCIAL

Poverty Bay Herald, Volume LXIII, Issue 19127, 23 September 1936, Page 12

COMMERCIAL

SYDNEY WOOL SALES

BEST LINES FIRM

CONTINENT A L BUY RBF

SYDNEY, Sept. 22.

At (he wool stiles. :i-\lf>s bales were offered and. 10,525 were sold, while a further 717 were disposed of privately. All the best lines of fleece and skirtings were firm, with wider competition mi ordinary and inferior wools. Yorkshire mid Germany were the principal buyers, with good support from Prance. .Greasy merino made in :.'id. INDUSTRIALS FIRM AUSTRALIAN SHARE MASKETS SYDNEY!", Sept. 21. On Ihe Sydney Stock Kxchange to-day Mandated Alluvials again rose and spectacularly touched 31s, closing at 28s 7£d. Prices were generally firm, with indications of profit-taking in the investments section. Sales: Colonial Sugar, £43 2s 6d ; Bank of New .South Wales, £33 ss; E.S. and A. Hank, £5 16s; Australian* Gas, A, new. £7 5s 6<l. Tooheys, 32s Drug Douses. 32= 6d; Wilcox Mofllhi, 12s 6d; Greater J. I>. Williams, els Id; Demy Jones, 42s 9d; iMillaijuin Sugar, 435; Fairymead Sugar, 36s 3d ; Farmers, 32s 3d. All, I.yell. 30s; Broken Dill Pmpriefary, 76s 6d ; Ziiii; Corporation, 82s; Bniolo Deposits, Is sid; Placer Development, 96s 6d; Mataki Gold, 3s; "Mandated Alluvials. 28s 7,',d.

Morning sales included: Commonwealth bonds. 4 per cent, 1941. £lO2 Us fld ; 1944, £lO2 15s; 1961, £IOO 13s 9d; Commercial Banking Company of Sydney, £l9 19s; Bank of New South Wales, £33 ss : Australian Gas, A, £7 7s; Anthony Dordern, 18s 9d; British Tobacco, 445; Broken Hill Proprietary, new. 58s; G. .1. Coles, 83s 3d; Henry Jones, 435; Meggilts, 26s 9d.

MELBOURNE. Sept. 21. On the Melbourne Stock Exchange today industrials were firm, but Barriers were easier.

Sales : Commercial Bank of Australia, 18s 7d; National Bank of Australasia. £5 paid, £7 3s; G. J. Coles, 84s; Ausl tralian Glass. 935; Dunlop-Perdriau, orcl.. 18s sd; ditto, pref., 355. Electrolytic Zinc, ord., 44s 9d ; ditto, pref., 45s 6d; Mount Morgan, 15s 2d; Loloma, 23a 3d; Upper Watut, 3s;' Irowat. 2s. Herald and Weekly Times, 70s; Myers. 36s 3d; Silverton Trains, 38s; General Motors, IToldens, 245; United Provisions, lis 6d, MOTOR INSURANCE NORTH ISLAND UNION The annual report of the North Island Motor (Inion Insurance Company shows that net premium income amounted to £85,677, an increase of £2(301 ,on the total for the previous year. Income .from investments amounted 1o £3640, an advance of £7lB on the figures on 1935. A sum of £I3OO, being 50 per cent of the amount of increase in the net premium income, has been placed to reserve. The surplus for the year amounted to £704, which has been allocated as follows: Fidelity guarantee reserve, £150; profits for distribution reserve, £Ol4. The accumulated funds, comprising accumulated surplus £29,599 and reserve for unexpired risks £-14,338, amount to £74,238, as against £72,938 for the previous year. The number of claims handled during- the year Avas 5090, and the net amount paid, and payable thereunder was £64,512. The percentage, of claims payments to net premium income, 72.7 per cent, is 14.7 per cent, higher than the figure for 3935. The ratio of working expenses to net premium income is 21.3 per cent, an increase of .0 per cent as compared with the figure for 1935.

During the past year buyers from the Tmranaki and YVaikaio districts, have been making heavy purchases of dairy heifers in the Foilding district for transport to their respective areas. The first dredge, to operate in the Barrytown district, White's electric dredge, was officially opened last week, before an attendance of nearly 3CO. The dredge is. situated oil the GreymouthWestport coastal road, near Barrytown. The dredge was the first all-steel elec-trically-welded dredge in the world constructed without a bolt or a rivet, said Mr. Isaac Woolf, chairman of directors, of Christchureh. The dredge had been built by the D.C. Welding Company, of Sydney, which bad had about 40 years' experience in dredge construction, having built 42 dredges in different parts of the world.