FINANCE AND COMMERCE

Taranaki Daily News, 24 May 1932, Page 16

FINANCE AND COMMERCE

AUSTRALIAN SHARE MARKET.

N.S.W. ELECTIONS AWAITED.

By Telegraph—Press Assn. —Copyright. Rec. 8.40 p.m. Sydney, May 23. Although the volume of business wa comparatively small on the Stock Ex change to-day there was considerable inquiry for sound stocks. Meanwhile investors are marking time awaiting the outcome of the Stati political campaign. Sales to-day were: Bank ot New South Wales, £27 15s; Bank of Australasia, £lO 3s; Colonial Sugar, 15s; United Insurance, £7 7s 6d; Burns, Philp, 40s 6d; Australian Gas A, £a 15s; ditto B, £5 15s 6d; Toohey s, 17s 9d: Tooth’s, 28s 3d; Spldsbrough Mort, 255; Dunlop Perdriau, 12s 3d; New Zealand stock, 5J per cent., 1937, £IO9I ss; Commonwealth bonds, 4 per cent., £94 15s; 1941, £9l 4s 9d; 1947, *BB 10s; 1955, £BB 17e 6d; 1957, £B7 10s; 1961, £B7 17s 6d. Sales on the Melbourne Stock Exchange were: Gordon, and Gotch, 26 s 10jd; Herald and Times, 475; Dunlop Perdriau (pref.), 25s 6d; Broken Hill Proprietary, 16s 3d; North Broken Hi-I, 62s 9d.

MOTUROA OIL PRODUCTION.

Crude oil produced at the Moturoa Oilfields Company’s No. 2 well during the week ended on Saturday amounted to 141 barrels.

SHAREMARKET TRANSACTIONS.

Auckland, May 23:—Sharemarket sales: Bank of New Zealand, 44s Id, 43s 10d; Auckland Gas, 21s; Northern Steam (con.), 2s; Farmers’ Trading, 4s 9d; Gear Meat, 28s. Christchurch, May 23: —Sales on Exchange: New Zealand. Government 5A per cent, inscribed, September, 1937, £9B 17s 6d; Bank of New Zealand (cum. div.), 43s lid, 43s lOd, 43s 9d (3); Goldsbrough Mort, 22s 2d; New Zealand Refrigerating (10s paid), 4s 2d, 4s 3d (3);- Westport-Stockton Coal (ord.), 5d (6); Okarito (cum. div.), 9s 3d, 9s 2d. FEILDING SALE. At the Feilding sale on Friday Associated Live Stock Auctioneers, Ltd., offered a full yarding of fat lambs and a medium entry of fat ewes and wethers. The yarding of store sheep was very small. Fat lambs sold up to recent values. There was a good demand for prime ewes, with little or practically no inquiry for the medium and unfinished lines. Fat wethers, of which very few. were yarded, met with a ready sale. Breeding ewes showed a marked improvement on last week's sale. Ewes r.w. S.D. ram in good order sold readily. Store lambs also met a ready market. A heavy entry of fat cattle met a fair sale. The inquiry was very limited and several pens failed to reach the vendors’ reserves. Store cactle met a very dragging sale, although most vendors met the market. Dairy cows: A full yarding came forward, including two •herds. Only choice lots and early calvers were sought after. Old, low-condi-tioned and late-calving cows were hard to quit. There was also full yarding of weaner heifers, which met with good competition at recent values. Fat wethers: Ils, Ils Id. 12s Id, 12s isd, 12s 6d, 13s 2d, 13s 7d. Fat b. faces: ‘9s 6d, 10s 6d, to 12s. Fat ewes: 6s, 6s 4d, 6s 7d, 6s lid, 7s 2d, 7s 9d, 7s lid, Ss Id, 9s, 10s 7d, Us Id, Us 2d. Fat lambs: 9s 9d, 10s, 10s 7d. Ils, Us 3d. Us lOd, 12s, 13s, 13s lOd, 14s 4d, 14s dOd, 15s, l'ss 2d, to 15s 4d. Single fat lambs: l'ss 4d to 17s.

■ 'Store and forward wethers: Bs, 9s, 10s Id, 10s 7d, 10s Sd. Forward ewes: 4s 4d, 4s 7d, 4s Bd, 5s Id, 5s 3d. Lowconditioned ewes: Is 6d, 2s. Four-five-year ewes: 6s 3d, 7s lOd, 9s 3d, 9s lid, 10s sd. B.'F. lambs: 8s 6d, Ss 9d, Ss lOd. Wether lambs: 8s 2d to 8s lOd. Fat cattle.—Cows and'heifers: £2 9s, £2 15s. to £3 ss. Light bullocks: To £5. Light cows, dairy sorts; 20s. 22s 6d, 255, 28s 6d, 325, 365, £2, £2 7s. Three and four-year P.A. steers: £2 7s 6d. Eighteen-month steers: 15s. Eightcen-month heifers: 16s, 30s, to 31s Gd. P.A. cows r.w.b.: 27s 6d.

Dairy cattle.—Springing heifers: £2 10s, £3, £3 15s, £5 ss, £6 10s, to £7. Spg. calvers: £2 2s 6d, £2 10s, £3 ss, £3 10s, £5 ]ss, £6 ss, to £7. Small backward heifers r.w.'b.: £1 15s, £2, £2 16s, to £2 17s 6d. Weaner Jersey heifers: 235, 255, 28s, 30s, 365, 375, £2, £2 15s, Small weaner Jersey heifers: 12s, 17s. 18s, to 20s.

NORTHERN STEAMSHIP COMPANY.

DIVIDEND AGAIN LOWER

FIVE PER CENT. RECOMMENDED

A net working profit of £6BlB is shown in the annual report and balancesheet of the Northern Steamship Company, Limited, for the year ended March 31. With the balance brought forward from the previous year after deducting the dividend, £3068, there is £9886 available for distribution. From this the directors recommended the payment of a dividend at the rate of 5 per cent., which will absorb £BO7O, leaving £lBl6 to be carried forward. The retiring directors are Messrs. E. H. Davis, Charles Rhodes and A. B. Hobertou. Following is a comparison of the company's results for the past three years:

Carried forward £9,848 £3,068 £1.816 From 1924-25 until last year the company paid a dividend of 8 per cent, per annum. Following the reduction to 7 per cent, in 1930-31, the company announced last November that, owing to the seriously depressed conditions com-.

mon to all freighting to and IToin Hie country during the previouti wlnl.m, 11, had been deemed best not to pity I,lit? usual interim dividend, but to nwii.it ths improved results then promising for I,lni summer and leave it to aharoliol<l>UT. at the annual meeting to decide wind- <ll vL dend should bo jwiid on tlm yoni’a r<i> suits. The dividend now rcnoniiiimidcd is payable next Saturday. The balance-sheet shows the cn.pU.n.l of the company unchanged at £161,112. The insurance accounts show I'lirl.licr contraction to £68,312, ii.gnlnut £70,730 in 1931 and £74,211 in 1030. Sundry creditors are shown nt £23,740, agahial £84,763 and £59,747. Now itciriH arc deposits of subsidiary coni panics, £23,606, and a liability to the Bank of New Zealand of £28,132. Vessels, wharves, hlh-Hs and sundry gear are valued at £199,307, compared with £203,552 in 1031 and £181,194 in 1930, and Quay Street premises £10,371, against £10,637 mid £10,901. Investments are shown at £76,986, against £77,086 and £72,386.

1930. 1931. 1932. Brought forward £9.567 £9.848 £3,068 Net profits .. , 13,194 4,519 6,S>18 £22,761 £14,367 £9,886 Dividend— Rate, p.e. , =, s 7 Amount ....,. 12,913 11,299 8,070