STOCKS AND SHARES

Taranaki Daily News, 30 November 1934, Page 14

STOCKS AND SHARES

NEW ZEALAND EXCHANGES. YESTERDAY’S TRANSACTIONS. Transactions on the New Zealand stock exchanges yesterday are reported by the Press Association as follows: — Wellington:—Sales on Exchange: 4 per cent bonds, 1955, £ll2 10s; 31 per cent. Stock (1939-43), £lO6 10s; 1938-52, £lO6 10s; 4 per cent. Stock, 1940, £lO3 ss; Union Bank of Australia, £8 15s; South British, £4 15s 3d; Mt. Lyell, 18s; Australian Glass, 61s lOd; Kauri Timber, 18s 6d; Woolworths Ltd., 76s 6d and 76s 3d. Dunedin:—Sales on Exchange: Bank of New Zealand, 48s 8d; National Insurance, 21s 7d; Charleston, 6d; 4 per cent, stock, 1949, £ll3. Reported sales: New Zealand Refrigerating (cont.), 9s lid; New Zealand Paper Mills, 34s 9d; Bendigo Goldlight, lid; Glenroy, lOd (3); Maerewhenua, 4d (late yesterday). Auckland:—Sales: Government Stock, 1940, 4 per cent., £lO3 7s 6d; 1946, £lO4 15s; Reserve Bank, £6 10s 6d (two lots); National Insurance, 21s 9d (two lots); New Zealand Insurance, 68s 9d; Auckland Gas, 27s 4d; Northern Steam, 6s 8d; Kauri Timber, 18s 3d; Taupo Totara, ss; New Zealand Breweries, 495; British Tobacco, 42s 9d; Colonial Sugar, £4O; Consolidated Brick, 10s; Dunlop Perdriau, 19s lOd; Goldfields Dredging, 7|d; Skippers, 7Jd; Waihi, 38s 6d (two lots); Mataki, 2s 3d. Christchurch: Sales of unlisted stocks: Argo Gold (7jd paid), lid; Woolworths, Sydney (ord.), 76s 6d (three parcels). Sales of listed stocks: New Zealand 'Government, 4 per cent, inscribed, 1940, £lO3 10s; Reserve Bank, £6 9s 3d, £6 9s 9d; New Zealand Refrigerating (10s paid), 9s Ud; Carlton Brewery, 53s 6d; New Zealand Breweries (cum div.), 49s (two parcels); British Tobacco, 42s lOd, 42s lid (three parcels); Brian Boru, llld; King Solomon, 3s 9d; Mahakipawa (pref., 1929 issue), Is 2d; Mahakipawa (pref., 1930 issue), Is Id; Mount Lyell, 17s lOd (four parcels), 17s lid; Worksop Extended, 3s 3d. Reported sales: New Zealand Government, 4 p.c. inscribed., 1940, £lO3 10s; Union Bank of Australia (late Wednesday), £8 14s 6d; National Insurance, 21s 7d; Mutual Benefit Building Society, £l3 10s; New Zealand Breweries, cum div. (late sale Wednesday), 495; Australian Glass, 61s 3d; Mount Lyell, 17s 10id (two parcels); Skippers, 8d; Worksop Extended (cum div.), 3s 3d. CLASSIFIED STOCKS STRONG. SYDNEY EXCHANGE BUSINESS. By Telegraph—Press Assn.—Copyright. Rec. 8.25 p.m. Sydney, Nov. 29. On the Stock Exchange classified stocks, especially brewery and steamship issues, were strong but Australian Government securities were quiet as the result of the suggestion made in connection with the closing of the recent £15,000,000 loan that interest rates had probably touched their lowest point. This caused a sympathetic easing in gas shares. Sales were: Bank of New South Wales, £33 2s 6d; United Insurance, £ll 6s; Mercantile Mutual Insurance, 25s Ud; Australian Provincial Assurance, Ils 2d; Associated News, 25s 6d; W. R. Carpenter, 41s; Australian Gas A, £8 Is 6d; British Tobacco, 42s 6d; Howard Smith, 18s; Tooth’s, 51s; Toohe/s, 28s 9d; Australian Glass, 625; Dunlop Perdriau, 20s; Dalgety’s (ex dividend), 29; Winchcombe Carson, 28s 6d; Morris Hedstrom, 16s 9d; Fairymead Sugar, 41s sd; Mount Morgan, 365; Broken Hill Proprietary, 545; South Broken Hill, 80s 6d; Rawang Tin, 8s 3d; Placer Development, £23 ss; Euratha Gold, 6s 7d. Melbourne: Commercial Bank of Australia (pref.), £10; National Bank (£5 paid), £8 4s; Taranaki Oil, 6d; Mount Lyell, 18s; North Broken Hill, £5 ss. GOLD MINING RETURN. The Addison Flat gold return was 30oz. 3dwt for 36 shifts, states the Press Association. RESERVE BANK RETURNS FIGURES FOR THE PAST WEEK. Wellington, Last Night. The weekly return of the Reserve Bank of New Zealand at the close of business on Monday appeared in a Gazette issued to-night:— The statement is compared with that for' the previous week, and is as follows:— Liabilities.

Totals £28,290,514 £28,280,524 Proportion of reserve to notes and. other demand liabilities, 99.5 per cent. (99.49 last Week). WOOL WORTHS (N.Z.), LTD. INCREASE SHOWN IN NET PROFIT. DIVIDEND OF 12J PER CENT. Woolworths (N.Z.) Limited have advised the Stock Exchange Association that the directors recommend the declaration of the following final dividends for the year: Preference shares, a bonus dividend of 1 4-5 per cent, on the preference share capital, making 9 per cent, for the year. Ordinary shares, a dividend of 12} per cent, on the ordinary share capital. The dividends will be paid on December 11. , The directors of Woolworths (N.Z.) Ltd. report for the year ended October 1, 1934. that the profit for the year afterdeducting all working expenses, provision for depreciation, and directors’ fees as set faith in the profit and loss appropriation account, is £70,733 <s lOd. After setting aside as provision for taxation £22,508 7s 9d, the net profit for the year amounts to £48,225 Os Id. Interim dividends in respect thereof have been distributed as follow: Preference shares, 4J per cent, on April 15, 1934, £2250; 2

7-10 per. cent, on October 15, 1934, £1350 making £3600. Dividend on ordinary shares, 10 per cent, on July 1, 1934, £9BOl. Total dividends, £13,401; leaving a balance available for appropriation by the meeting of £34,824 0s Id. The directors recommend the declaration of the following final dividends for the year: Preference shares, 1 4-5 per cent, bonus dividend on capital (making a total of 9 per cent, for the year), £900; ordinary shares, 124 per cent, dividend £12,251 ss. Total dividends £13,151 ss. It is proposed to transfer to general reserve the balance of £21,672 15s Id. After making the above transfer to general. reserve of £21,672 15s Id, the amount at credit of general reserve and reserve account will aggregate £86,322 6s lid. The directors are pleased to report that the affairs of the company have progressed favourably and that all branches are operating successfully. During the year under review stores were opened at Willis Street, Wellington, and Hastings. Since the close of the accounts a store was opened at .Timaru. In accordance with the requirements of the National Expenditure Adjustment Act, 1932, a reduction of 20 per cent, of the annual preference dividend was made from the payment made to preference shareholders on October 15, 1934. It is the recommendation of the directors that a bonus be given to the preference shareholders equal to the amount deducted subject to approval at the annual meeting. Net profits for the past five years have been reported as follow: 1930 £14,528; 1931, £20,217; 1932, £30,706 (after writing down establishment charges by £2067 to £B6OO prior to showing profit); 1933, £42,383; 1934, £48,225. For 1933 a bonus of 10 per cent, was paid on bonus shares issued in October of that year. The balance-sheet as at October 1, 1934, shows authorised capital at £150,000, of which £50,000 is in 9 per cent, cumulative preference shares and the remainder ordinary. Of these shares 50,000 preference shares and 98,010 ordinary shares, all of £1 each, have been issued. Reserve of capital profits is £20,850; general reserve, £43,799 11s lOd; profit and loss, £36,174 0s Id. Reserve for depreciation, £22,943 6s; sundry creditors, £33,696 15s 4d; reserve for taxation, £43,817 6s Id. Assets include freehold properties at cost, £53,108 8s Bd, less liabilities thereon secured by mortgages, £39,351; leasehold property at cost, less depreciation, £8950 5s sd; furniture and fixtures, £75,083 14s 9d; stock on hand and in transit, £139,897 9s 9d; sundry debtors, £9389 16s lid; cash in bank and in hand, £6482 2s lid; investments, £30,097 10s lid; goodwill, £65,812 10s lOd.

CO-OPERATIVE PIG-MARKETING. The New Zealand Co-operative Pig Margeting Association Limited will during the coming week make its usual interim bonus payment to suppliers on pig? received from June 1 to October 31. The amount to be distributed, including the shareholders’ bonus on the qualified supply for the year ending May 31 last is approximately £6OOO. For the period the company has handled nearly 20,000 pigs, which is considered more than twice the number handled for the corresponding period last year, and represents 35 per cent, of the total pigs killed for export duriqg the period. The bonus to be paid on pigs supplied to October 31 will be at the following rates: Porkers, to 801 bi, lid per lb; 81 to 1001 b, Id; 101 to 120i>, fd; baconers, id; choppers id. Accompanying these payments will be one to cover the shareholders’ bonus (cash) of l-16d per lb now due on the qualified supply for last season, which will amount to approximately £l2OO. DAIRY PRODUCE PRICES. The New Zealand Loan and Mercantile Agency Company Limited, Stratford, has received the following cabled advice from the head office, London: Butter, 72s to 735; market steady, demand . improving. Cheese, white 48s, coloured 475; market slow.

Last This week. week. £ £ 1. Capital 500,000 500,000 2. General reserve 1,000,000 1,000,000 3. Bank notes ... 9,081,773 9,611,478 4. Demand Liabilities— (a) State .... 5,975,656 6,390,566 (b) Banks .. 11,690,204 10,737,492 (c) Other .. 3,671 3,489 7. Other liabilities 39,208 37,499 Totals £28,290,514 £28,280,524 Assets. 8. Reserve— (a) Gold .... 3,001,727 3,001,727 (b) Sterling exchange . 23,624,404 23,607,757 9. Subsidiary coin 98.680 86,933 12. Investments .. 1,542.654 1,559,316 14. Other assets .. 23,048 24,787