COMMERCIAL

Poverty Bay Herald, Volume LXV, Issue 19555, 10 February 1938, Page 17

COMMERCIAL

INCREASED TURNOVER

AUSTRALIAN EXCHANGES

(Eloc. Tel. Copyright—United Press Assn.) SYDNEY, Feb. 9.

The investment market to-day was steady, with an increasing turnover, but investors were still inclined to wait for signs of stability overseas. Barriers and gold shares moved within narrow limits. Sales were as follows: Bank of New South Wales, £32 10s: Colonial Sugar, £47; United Insurance, £9 15s; Associated News, £1 2s 6d; do., prof., £1 4s 7 : '.d; Adelaide Steam, £1 14s 0d; British Tobacco, £2 10s Gd; Tooths, £2 15s Gd: Toohevs, £1 12s; Australian Glass, £4 13s Gci; Dunlop Perdriau. £1 3s 4UI: Farmers, £1 13s Ud; Coles, £4; Greater Williams, ss; Newcastle Gas, ex div., 12s 2d; Traders' Finance, £1 4s 6d; C. Neon, £2 9s Gd: Amalgamated Wireless, paid, £3 Gs; Schute Bell, £1 Is 9d; Woolworths, £1 4s 9d; Producers General, pref., 13s Gd; Warburton Franki, £1 Is (id: Mt. Morgan, 9s Id; Mt. Lyell, N.Z. delivery, £1 lis; Broken Hill Proprietary. £3 2s Gd; North Broken Hill, £2 lis 9d; South Broken Hill, £1 14s; Larut, 14s; Zinc Corporation, £5 4s. Melbourne sales In-day wore as follows: Commercial Bank of Australia, 17s 2d: National Bank, £lO paid. £l4 12s; Carlton Brewery. £3 6s Gd: Coles, £4; Drug Houses, £1 Gs lid; Electrolytic Zinc, £2 7s Gd; do., pref.. £2 10s; Mt. Morgan, 9s; Broken Hill Proprietary, £3 Is 9d; North Broken Hill, £2 lis 9d; South Broken Hill. £1 14s; Emperor, lis lOd; Loloma. 18s Gd.

IMPROVED RESULTS WESTPORT-STOCKTON COAL The accounts of the Westport, Stockton Coal Company, Limited, for the year ended December 31, 1937, disclose a net profit of £10,630, compared with £G795 for the previous period. The directors recommend a dividend of G per cent on the preference shares, which is the first since 1922, when 8 per cent was paid. In addition to the substantial improvement in earnings and profit, a feature of the accounts is a further reduction in debentures to £10,485, compared with £29,033 a year ago.

The balance-sheet reveals cash and bank deposits at £22,507, which is more, than sufficient to pay off the remainder of the debentures. Depreciation at £7228 is another satisfactory feature. The company has set aside £8824 for income and debenture taxation. The coal output is 142,730 tons, against 108,219 tons in the previous year.

For the year ended December 31, 1935, the companv showed a net loss Of £4713, when the output of 94,307 tons was the lowest for a considerable time. At the close of the financial year in 193 G, secured debentures stood at £29,033, with several under notice of redemption.

STANDARD INSURANCE USUAL INTERIM DIVIDEND The directors of the Standard Insurance Company, Liimted, have declared an interim dividend of Is 3d a share, unchanged, for the half-year ended December 31, 1937. It is payable on March 7. STRONG COMPETITION SYDNEY WOOL SALES SYDNEY, Feb. 9. At the wool sales to-day, 11,212 bales were offered, and 9485 sold; 277 bales were sold privately. Competition was strong from all sections, and X'riccs were firm at late rates for all descriptions. Good clearances were effected. Greasy Merino made to 22.',d.