LATE COMMERCIAL

Southland Times, Issue 21773, 30 July 1932, Page 6

LATE COMMERCIAL

KING SOLOMON WASH-UPS. The manager of the King Solomon Deep Lead reports that the wash-up for the week was 70oz. The pump is working satisfactorily. PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, July 28. Gold is quoted at £5 16/7 an ounce. LONDON STOCK EXCHANGE. London, July 28. Shares.—Mt. Lyell 14/14; Peninsula 16/11. SUGAR MARKET. London, July 28. Sugar.—August 6/11. LONDON PRODUCE MARKET. London, July 28. Flour.—Firm and dearer. Australia, ex store, 19/-. Barley.—Steady. Australia Chevalier, ex store, 28/6 to 32/6. Oats.—Dearer. Beans and Peas.—Firm. Tasmanian Maples 72/6 to 75/-. New Zealand, ex ship, to arrive, 67/6 to 68/-. WHEAT CARGOES. London, July 28. Wheat.—Cargoes are firmer and advanced 6d to 9d. Parcels are 6d to 1/in advance. Futures: London, September 25/3, December 25/3; Liverpool, July 5/30, October 5/4 j, December 5/51, March 5/7J. Spot lots are held for*9d to 1/- advance. Trading is inactive. Australia, ex ship, 27/6. COMMERCIAL BANK OF AUSTRALIA. DIVIDEND OF 111 PER CENT. (Rec. 7.45 p.m.) Sydney, July 29. The Commercial Bank of Australia, Limited, for the year 1930-31 paid a dividend on ordinary capital at the rate of 111 per cent. For the period ending June 30 last it is. intended to pay only 5 per cent, which will account for £lOO,OOO of £265,000 available for appropriation. The net profit of £199,670 for 1931-32 contrasted with £308,450 in the previous year. The preference dividend, which is on the basis of 4 per cent., will absorb £84,694. Deposits are shown at £21,707,607, which is an increase of £847,822. COMMERCIAL BANKING CO. OF SYDNEY. FINAL DIVIDEND APPROVED. (Rec. 7.45 p.m.) Sydney, July 29. The Commercial Banking Company of Sydney, Limited, earned a net profit of £253,866 for the year ended Juni 30 compared with £441,916 in the previous year and' £637,619 in 1929-30. An interim dividend at the rate of 6 per cent, per annum was paid last January, and the final disbursement approved to-day is on the basis of 5 per cent, per annum, making the return for the year llj per cent The chairman, Mr G. J. Cohen, remarked that the profit for 1931-32 represented only 2.8 per cent, on the combined capital reserves, which was an effective answer to those continually charging the banks with making unconscionably large profits at the expense of the trading and producing public.