COMMERCIAL

Poverty Bay Herald, Volume LXIV, Issue 19339, 1 June 1937, Page 11

COMMERCIAL

BRITISH TOBACCO CO. QUARTERLY DIVIDEND UNCHANGED The British Tobacco Company (Australia), Limited, advised the Stock Exchange Association on Saturday that a quarterly dividend of 2 per cent would be payable oil June 30. This is the third quarterly dividend of 2 per cent for the current financial year. Last year’s distribution was 7 per cent, plus a special bonus of 3;J per cent from subsidiaries' accumulated profits which was paid in January. NATIONAL BANK OF N.Z. FINAL DIVIDEND DECLARED The' general manager of the National Rank oi New Zealand, Limited, has received the following cable from bis London office:— Tho board of directors ol the National Bank of New Zealand, Limited, recommend a final dividend- at the rate ol 4 per cent per annum for the half-year ended March 31, making! 4 per cent, tor the year, free of tax. This is equivalent to £4 IBs 10d per cent, in New Zealand currency. The di\idetnl is at an unchanged rale. WEAKER TENDENCY .SYDNEY STOCK EXCHANGE SYDNEY, May 31. Investment business on the Sydney Stock Exchange to-day displayed a weaker tendency. Dunlop-l’erdriau, however, was an exception. Government Bonds were strong, and banks were easier. Sales: —Bank of New South Wales, £36 10s; .Commercial Banking Company of Sydney, £2L 16s; do., New Zealand delivery, £2l 17s 6d; Colonial Sugar, £47 15s; Associated News, £212 7s 6d ; British Tobacco, 50s 6d ; Tooth s, 55s 3d; Toohoy’s, 335; G. J. Coles, £5 11s 6d ; Australian Iron and Steel (pref.), 27s 3d; Dunlop-Perdriau, 22s 4^d; do., New Zealand delivery, 22s 4£d; Goldshrougli Mori, New Zealand delivery, 3Bs 6d; Morris, lledstrom, 28s 9d; Henry Jones, 47s 3d ; Anthony Hordern, 19s 3d; Sargents, 345; Amalgamated Wireless (contrib.), 48s; Mangrovite Belting, 18s; VValdas, 20s 6d; Victoria N vauza, 17s 9d; W. R. Carpenter, 445; \\ oolworths, sale, £7 Is 6d; VYoolwortlis, New Zealand, buyer, £B, seller, £8 Is, sale, £8 ,1s; Selfridges, 3Cs 6d, 325; Mt. Morgan. 15s 9d; Mt. I .yell 45s 3d; Kuala Kanipar, 22s 3d; Zinc Corporation, JJ6 10s. The investment market was firm on the Melbourne Stock Exchange to-day, with Dunlops and Olympic Tyres ai demand. Bonds were strong, and Barriers slightly easier. Gold shares were irregular. Sales: Commercial Bank of Australia, 19s 3d; National Bank (£5 paid), £7 ids; British Tobacco, 50s 3d; G. J. Coles, £5 11s; Australian Class, 91s 3d; Dunlop-Perdriau, 22s 6d; Electrolytic Zinc, 57s 9d ; do., pref., 58s 9d; General Motors, 24s 6d . Mt. Lycll, 45s 7*d: Mt. Morgan, 13s 9d; Broken Hill Proprietary, 82s; North Broken llill. 745; South Broken Hill, 51s 3d ; Tongkah Harbour, 22s 9d ; Emperor 17s 3d ; Loloina, 21s.

HOTEL TRANSACTIONS

STAPLES’ PROPERTIES Shareholders of J. Staples anil Company, Limited, investors in hotel properties and brewing interests, Wellington, are expected to share in approximately £1,000,000 when the sale, of the company’s hotel interests to New Zealand Breweries, Limited, is completed. An option to New Zealand Breweries to purchase certain licensed hotel properties was ratified by shareholders of Staples and Company on Friday, and it is understood the cash involved in this deal is in the vicinity of £SOO,OCX).* It is now stated that tin option has been given for the sale of the Central Hotel, Wellington, at £45,000. Remaining in Staples’ hands then will he properties estimated to ho worth £80,030. Owing to the magnitude of the transaction, the final terms of the deal will take, some time for completion. Tt is understood, however, that the 76.CC0 shares Infill by Staples ami ('Company in New Zealand Breweries will he distributed pro rata to Staples" shareholders. The Staples company proposes to wind up wlien the option is exercised by New Zealand Breweries. This transaction is expected to he completed in four or five months. Tlio market price for Staples shares lias been around 545, lint sellers have shown a disposition to remain off the market in the. past day or two. The. company lms a capital of £350,000 in shares of £1 fully paid, and at present it appears that the company's assets will realise at least 55s a share.