COMMERCIAL

Timaru Herald, Volume CXXXIX, Issue 20146, 28 June 1935, Page 2

COMMERCIAL

SYDNEY STOCK EXCHANGE United Press Association—By Electric Telegraoh—Copyright (Received June 27, 8.35 p.m.) SYDNEY, June 27. On the Stock Exchange, trading was spread over a wide range of issues, but the price variations were negligible. Commonwealth Bonds, however, showed signs of weakness. Sales:— Commercial Bank of Sydney, £l7 18/-; Union Bank, £B/17/8; Bank of New South Wales, £32; Colonial Sugar, £44/15/-: Adelaide Steam, 31/6; Berlei, 36/6; British Tobacco, 39/3; Tooth’s. 54/9; Toohey’s, 30/-; Associated News (pref.)', 24/3; Dunlop Perdriau, 16/6; Dalgety’s, £B/2/6; Goldsbrough, 29/9; Wilcox Mofflin, 10/9; Farmers, 26/6; Amalgamated Textiles, 10/11; General Industries, 19/43-; Mount Morgan, 36/9; Mount Lyell, 18/9; Broken Hill Proprietary, 59/3; South Broken Hill, 86/-; North Broken Hill, £6/10/-; Placer Development, £3l/17/6; Commonwealth Bonds (all 4 per cent.). 1938, £lO2/1/3: 1941, £lO3/6/3; 1944. £lO4/11/3; 1947, £lO5/8/9; 1950, £lO6/15/-; 1953, £lO6 7/6; 1957, £lO4/17/6. Melbourne Sales.—National Bank (£lO paid), £l2/16/-; Union Bank, £9; Goldsbrough, 29/9; Mount Lyell, 19/-.

AUSTRALIAN MARKETS United Press Association —By Electric Telegraph—Copyright (Received June 27, 8.30 p.m.) SYDNEY, June 27. Wheat.—Country sidings, 2/51 a bushel for bagged, 2/41 for bulk, equal to 3/01 ex trucks Sydney. Flour.—£ll/5/- a ton. Bran and pollard.—£s a ton. Potatoes.—Tasmanian, £ll to £l4 a ton; Victorian, £ll. Onions. —Victorian Brown, £lO/10/- a ton. Maize.—Yellow, 4/4 a bushel, white 4/3. ADELAIDE, June 27. Wheat.—Growers’ lots, 2/11 a bushel. Flour.—Bakers’ lots, £ll/7/6 a ton. Bran.—£s a ton. Pollard.—£s/2/6 a ton. Oats. —1/9 to 1/10 a bushel. Barley.—2/6 a bushel.

REDUCTION OF CAPITAL By Telegraph—Press Association DUNEDIN, June 27. Three meetings of shareholders of the Otago Farmers’ Co-operative Association of New Zealand, limited, were held to-day, as a result of which accrued dividends amounting to £9454 9/9 were written off, and the capital of the association was reduced from £282,360 to £109,560.

METALS MARKET United Press Association —By Electric Telegraph—Copyright (Received June 27,7 8.30 p.m.) LONDON, June 26. Quotations — Copper — £ s. d. Standard J, 29 6 3 Forward 29 12 6 Electrolytic 32 10 0 to 33 5 0 Wire Bars 33 5 0 Lead— Spot 13 13 9 Forward .. 13 15 0 Spelter— Spot 13 13 9 Forward 13 18 9 TinSpot 229 16 3 Forward 22Q 7 6 SilverStandard, per oz 31 Fine 33 7-16 N.Z. BREWERIES, LTD.

The report of the directors of New Zealand Breweries, Ltd., for the year ended March 31, for presentation at the annual meeting of shareholders on July 17, states:— After writing off depreciation on buildings, plant, machinery, rolling stock, etc., and paying a sum of £487,020/14/9 as excise duty, and making provision for land and income taxes and contingencies, there remains a net profit of £77,835/18/10, to which there is to be added the amount brought forward from last year—£l3,l3s/2/4, making £90,971/1/2. From this amount must be deducted the sum of £38,229 1/-, being interim dividend paid for the period ended September 30, 1934, leaving a. sum of £52,742/0/2 to be dealt with. Your directors recommend that this amount shall be appropriated as follows: £ s. d. Payment of Dividend of 31 per cent, for the }. half year, making 7 : per cent, for the year 38,229 18 5 To be carried forward .. 14,152 1 9 £52,742 0 2

N.Z. PROCERA BREAD SHARES These shares have met with an exceedingly rapid advance on the Stock Exchanges during the week. The Company holds certain patent rights which it has protected in almost every bread using country in the world and the rights have been sold in some of them. The rights are for certain distributing areas and Wellington, Dunedin and Christchurch are now working under them. In Australia 52 districts have secured licenses to use the patent and in New Zealand 12 districts are now operating under license. Royalties on each loaf are paid by the licensees. The feature of the patent is the great reduction of the starch, content of the loaf manufactured by this process. The London rights have been purchased by Nevill’s Bread Company, which controls 8000 shops in the metropolitan area. The balance sheet of the N.Z. Company showed sales of patents and royalties, £7OOO, expenditure £4567, profit £2466. On May 31, sales of shares were made at 12/-; June 12 at 16/6; June 18 at 24/-; June 21 at 33/-; June 24 at 50/- to 60/-; June 25 at 67/6. Later sales were at lower figures than that last mentioned.

ASSOCIATED MOTORIST PETROL COY., LTD. At the annual meeting the chairman said that the figures for the year ended March 31 showed that the company was in a very strong financial condition. Paid up capital at £131,268 showed an improvement of £16,480. In the item of sundry creditors which are set down as £59,107, this apart from income tax referred almost wholly to.a shipment of petrol which was unloading at the end of the financial year. The total assets were £224,568 Including

cash at bank £69.101; petrol and oil at landed cost £79,702; book debts, etc., £12,653; sales for the year were £628,696 The directors recommend that in view of the preference dividend last year being five per cent, only, an Increased dividend to ten per cent, be paid to preference, shareholders out of last year’s trading profits. The balancesheet showed that ordinary shares were £SOOO and preference capital paid up was £126,628. Profit and loss appropriation account was £31,497.

MOUNT MORGAN DIVIDEND Mount Morgan, Ltd., has declared a dividend of 6d a share, Australian currency for the quarter ending June 25, payable on July 10. The directors report that the new treatment plant will be in operation in July. It will handle not less than 5000 tons of ore a week. This Implies a considerable increase in tonnage, improved recoveries, and reduced costs. The directors expect, providing the present price of gold is maintained, that they will be able to increase the rate of dividends declared from and including the next quarter.