FINANCE AND COMMERCE

Taranaki Daily News, 30 November 1932, Page 12

FINANCE AND COMMERCE

SHAREMARKET TRANSACTIONS. NEW ZEALAND EXCHANGES. The following sharemarket transactions yesterday are reported by the Press Association:— Auckland: Inscribed Stock, 5£ per cent., 1937 (Feb.), £97 10s; ditto (Sept.), £97 10s; Bank of New Zealand, 455, 44s 9d; Dominion Investment, 17s; Renown Collieries, 2s 6d; Huddart Parker, 26s 6d; Colonial Sugar, £4B ss; Golden Point, 2Jd; King Solomon, 2s 4d (two parcels); Nokomai, 6s 3d, 6s 4d. Christchurch: Sales on Exchange: National Bank of New Zealand, £3 14s 6d; Bank of New Zealand (cum div.), 455; Union Bank of Australia, £7 14s 6d; King Solomon, 2s 3Jd; Dalgety and Co., £6 13s; Mount Lyell (cum div.), 20s 2d (four parcels), 20s Id; Golden Point, 3d (4), 2Jd; Waitahu, prem. Sales reported: Whitcombe and Tombs, 53s 6d; Dalgety and Co., £6 15s. LONDON WOOL PRICES STEADY. GOOD COMPETITION AT SALES. By Telegraph—Press Assn. —Copyright. London, Nov. 28. At the London wool sales 7539 bales were offered, including 2097 New Zealand, and approximately 5640 were sold. There was good home and Continental competition at full rates. Greasy crossbreds were tending in sellers’ favour. New Zealand greasy crossbred, JGL-K, top BJd, average 7|d; halfbred, Mangarea, top lOd, average 9d; halfbred lamb, slipe, Balclutha, Hid. The Bradford market is firm, with a moderate amount of business. MELBOURNE WOOL SALES. RECENT RATES MAINTAINED. Melbourne, Nov. 29. At the wool sales 10,000 bales met with good competition. Japan and the Continent of Europe were the principal buyers. Prices were on a par with the closing rates last week. SHIPPING COMPANY’S YEAR. OPERATIONS OF THE P. AND O. London, Nov. 28. The P. and O. Company, after allowing £350,000 for the depreciation of the fleet and . £llO,OOO for the debenture, redemption reserve and taking in £115,738, brought forward from 1931, has a credit balance of £281,274. After the payment of the preferred dividend, a sum of £129,274 is carried forward. The company had to face a long succession of bad trade periods, states the report. The depression was continuing and the outlook was uncertain, making the -conservation of resources a primary duty. Owing to the trade conditions and the depreciation of the Australian pound the Australian passenger traffic continued to suffer. The new tourist accommodation had proved popular and the cargo from Australia reflected Australia’s great efforts to increase exports, but most of the outward space was empty. There had, however, been some improvement recently. ORIENT COMPANY’S FINANCE. DEPRECIATION INSUFFICIENT. London, Nov. 28. The Orient Steam Shipping Company showed a credit of £112,626. This was transferred to the depreciation account, but was £107,184 short of the provision out of profits required by the articles of association. Dividends on preference shares were paid from the balance brought forward, leaving £71,061 to be carried forward. AUSTRALIAN SHAREMARKET. COMMONWEALTH LOAN WEAKER. By Telegraph—Press Assn.—Copyright. Rec. 9.50 p.m. Sydney, Nov. 29. Commonwealth loans were weaker on the Stock Exchange to-day owing to the uncertainty of the American attitude towards war debts and the consequent effect on world trade. There was a rather sharp reaction in Colonial Sugar, which was extensively dealt in. Bank of New South Wales shares were firm owing to the maintenance of the dividend rate. Henry Jones shares were in demand. The market was otherwise without change. To-day’s sales were: Bank of New South Wales, £3O 12s 6a, National Bank (£5 paid), £6 7s, Commercial Bank of Sydney, £l6 10s; Queensland National, £5 6s 6d; Colonial Sugar, £53 10s; Henry Jones, 37s 9d; ditto New Zealand delivery, 37s 6d; Burns Philp, 495; ditto South Sea, 30s; Fairymead Sugar, 26s 6d; Tooth’s, 35s 6d; Toohey’s, 21s 6d; Goldsbrough Mort, 24s 9d; Carlton Brewery, 35s 6d; Dunlop Perdriau, 16s lOJd; Australian Glass, 44s 3d; British Tobacco, 34s 10jd; Mt. Lyell, 22s 3d; North Broken Hill, 70s 6d; Commonwealth Bonds, 4 per cents., 1938, £lO2 ss; 1941, £lOO 15s; 1944, £lOO 16s 3d; 1947, £lOO 16s 3d; 1950, £lOl 2s 6d; 1953, £lOl 10s; 1955, £lOl 15s; 1957, £lOO 10s; 1959, £lOO 10s; 1961, £lOl. Sales on the Melbourne Stock Exchange were: National Bank (£5 paid), £6 7s; Metropolitan Gas, £l2 9s; Mt. Lyell, 22s 4|d; Taranaki Oil, 2s 6d.