COMMERCIAL

Poverty Bay Herald, Volume LXVI, Issue 19887, 15 March 1939, Page 8

COMMERCIAL

AUSTRALIAN EXCHANGES METALS SHARES ADVANCE (Eire. Tel. Copyright—Unltml Truss Assn.) SYDNEY, March 13. The market on the Sydney Stock Exchange continued strong to-day. Industrial shares were steady to firmer. Base metals advanced while the gold section was firm. Sales included: —Bank of New South Wales. £29 6s; Commercial Bank of Australia, 15s 1 Del; Queensland National Bank. £1 15s; Union Bank. £7 IDs; Associated News, £1: ditto, pref., £1 2s 10 A cl; Australian Gas, A, £7 2s; British Tobacco, £2 9s 3d: Tooths, £2 14s; G. J. Coles, £3 16s 3d; Woolworths, Limited, £1 2s ltd; Drug Houses of Australia. £1 2s 6d; Anthony Hordern, 14s 8d: Lustre Hosiery, 19s lOtd: General Industrie*. 18s fid; Mori’s Dock, 14s 3d; W. Atkins. £1 2s 6d; Sargents, £1 Ds; Gordon and Gotch, £1 Is fid; Goldsbrough Mori, £1 Ss fid: Wkiehcombe, Carson, £1 7>; Colonial Sugar, £46 10s; Electrolytic Zinc, £2 7s; Ml;. Lyell, £1 7s 3d; Broken Hill Proprietary, £2 17s 9cl: ditto, contr., £2 5s Gd; Broken Hill South, £1 8s 9d; North Broken Hill. £2 7s fid: Arahura Gold, £1 7s 6d: Kanieri, £1 14s. Morning sales included: Commonwealth bonds, 4 per cent, 1941. £lOl 18s 9d; 1950. £IOO 16s 3d; 1953, £lO2 15s; 1957, £lO3 ,7s Gd; 1959. £lO3 17s fid; Tooheys Brewery, 31s; Associated Newspapers, 20s; Australian Iron and Steel, pref., 27s lOJd; British Tobacco (New Zealand delivery), 495; Broken Hill Proprietary ‘New Zealand delivery), 57s 3d: Broken Hill Proprietary, eont., 455; Colonial Sugar, £46 10s; Electrolytic Zinc, 475. Sales on the Melbourne Stock Exchange to-day included: —Broken Hill South, £T 8s 3d; Woolworths, Limited, £1 2s; Myers, £1 9s 3d: Dunlop Perdriau, £1 Is; Loloma. £1 Is 3d: Emperor. ’Bs fid: IVft. Morgan, 10s lid: North Broken Hill, £2 6s Gd; Herald and Weekly Times, £3 Is; Broken Hill Proprietary, £2 17s 3d; Argus, pref., 11s fid. lIEW ZEALAND WOOLPACK LOSS ON OPERATIONS A loss of £1897 is shown in the accounts of New Zealand Woolpack and Textiles, Limited, Foxtdn, for the year ended December 31. This compares with a profit of £35 in the previous year. The debit balance carried forward is £IBBS. The output for the year was 292,931 packs, compared with 245,570 in 1937 and 245,866 in 1936. In addition, there was finished cloth on hand to make about 18,000 packs. The directors state that consequent upon new drawing and spinning machinery being brought into full production, output for the year had increased. The year’s loss had been due largely to the delay at the beginning of the year in the receipt of the new machinery, and at the end of the year to an absence of tow and other cheap material owing to the closing of flax-mills consequent upon tile collapse of the export markets. The directors had explored many avenues for the diversification of the company's Output, and were satisfied that, with the installation of the necessary plant, prospects were most encouraging for the ultimate establishment of a very valuable local industry using 100 per cent of New Zealand-grown raw material. The balance-sheet total is £71,730. Land, 'buildings and plant stand at £46,204, stocks £15.757, and debtors, £7866. Capital is £25,003. There is a general reserve of £3789. The Labour Department is owed £28,148 (advance and interest) and the bank £BBI9. Creditors total £3382, and bills payable on account of new machinery £2538.