ANTHONY HORDERN.

Star (Christchurch), Volume LXVI, Issue 20625, 28 May 1935, Page 11

ANTHONY HORDERN.

Net Profit Increase by £27,554. Anthony Hordern and Sons. Ltd., rej ports a net profit of £128.242 for the year ended February 27, an increase of j £27,554 on that of the previous year. Arrears of preference dividend for the ! two years ended February 28. 1934, I have been paid, requiring £87.187. De- ‘ benture interest requires £43,855. and ! £14,742 is carried forward, against £17.541 brought forward. I In the balance-sheet, undeclared prej ference dividend for the half-year ended August 29, 1934, is shown as a contins gent liability of £21,797. This dividend - has b'een paid since the closing of the s accounts. - Year ended Feb. 28, Feb. 27, 3 19 1 4 * I£,'{i'' 1 £ , ' {i '' , Profit 100,65 S 128,242 . Debenture in teres tf 48,825 43,855 Div., pf., 7i p.c. p.a. *51,188 **B7,!S7 ’ Forward 17,543 1 4.742 LIABILITIES—- > Capital: Ordinary 1,250,000 1,250,000 Preference 750,000 750,000 9 First mort. debens 900,000 790,000 t General reserve .... 64,990 64,990 ; Creditor:-, including r provision for taxation 125.209 lo<,6aS ASSETS—- ‘ Freehold, machinery, ; plant, fixtures, goodwill, etc 1,799,150 1,R38,300 . Stocks and stores . . 641,284 704,810 ‘ Cash, debtors, invest- : ments and sundry assets 670,305 4G4.249 t After statutory deduction. 1 * For year ended February 24, 1932. *• For two years ended February 2S, - 1934. Mortgage debentures have been re- . xiuced by £IIO,OOO, and, on the assets -fide of the accounts, the item, “ cash, debtors, investments and sundry assets,” is lower by £206,056. Stocks i and stores show an increase of £63,526. INTEREST RATES. Hardening Apparent in Australia. Confirmation of the opinion that the downward trend of interest rates has been arrested, and that a hardening tendency is becoming apparent, is contained in the monthly review of the National Bank of Australasia. The bank says that holders of money are not so active in looking for investments. partly because there is less idle money about. The basic interest rate may be taken to be that ruling on Commonwealth Government securities. The average yield on the ten 4 per cent Australian Government loans, based on Stock Exchange prices, has risen from £3 5s 2d per cent in January to £3 10s sd, and the bank expresses the view that this may have important reactions upon Government finance. During the depression Governments , borrowed largely, first from the banks, and, as confidence was regained, from the public. The loans were subscribed largely from unused capital of industry, though new savings contributed no inconsiderable proportion. The slowness with which the last lo.an of £15,000,000 at £99 15s and 3 per cent interest was subscribed indicated some drying up of the sources of previous lendings and constituted a warning against too frequent and too heavy recourse by Governments to the loan market. INTERIM DIVIDEND. Claude Neon Lights, (N.Z.) Per Press Association. AUCKLAND, May 27. The directors of Claude Neon Lights (New Zealand), Ltd., have declared an interim dividend at the rate of 8 per cent per annum, for the six months ended March 31. DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar-sterling rates to-day:— U.S.A. Canada. Dol. Dol. Conversion of dollar bills received for collection and sale of dollar drafts and telegraphic transfers 4.93 4.92

rested between 50s 3d and 50s Sd. Australasia, at £ll ss, reached the highest level since March, when the dividend and bonus of 6s were due A notable sale was of Wilson’s Cement, which at 37s showed a rise of Is 6d. Buyers stayed in at 36s 9d, but sellers withdrew. New Zealand Newspapers had a sale at 365, after which the market lav between 35s 6d and 37s 3d. In Government stocks. 19 40’s looked easier with quotations from £lO4 10s to £lO4 15s. YESTERDAY’S SALES. | The following sales were completed ■* in other centres yesterday afternoon: — i Auckland—Bank New Zealand, £2 10s j 9d : Devonport Ferry. £1 2s. I Wellington—N.Z. Inscr., 4 p.c.. 1946, £108; N.Z. Inscr.. 4 p.c., 1955. £ll2 10s; I Bank New Zealand. £2 10s 9d, £2 10s 6d; j D.T.C. (r»ref.). £l 5s 6d. j Dunedin—Sales on ’Change: Bendigo ! Goldlights. 11 4d. Sales reported (May 27): Bruce Woollen (ord.), 13s fid; Sun Newspapers. 7s 2d: Gisborne Sheep. 6i p.c., 1941, £lO2. Unlisted: Procera Bread (10s paid), 11s 6d. Sydney.—Trading on the Stock Exchange yesterday was on a restricted scale. Investors were disinclined to enter into extensive commitments, pending the outcome of the Loan Council’s deliberations regarding the terms of the new internal loan. Morning sales included: Commonwealth Bonds per cent (1948), £lO9 15s; 4 per cent (1944), £lO4 7s 6d; Colonial Sugar, £4l 10s; Dunlops, 16s 4 Id: (pref.), 345; Howard Smith, Jss-l£d. Later dealings were:—Bank New ; South Wales, £3l 15s; Com. Bank Sydney. £l7 16s; Colonial Sugar. £4l 10s; Burns, Philp. 60s 9d; Tooths, 535 ; (N.Z. delivery). 52s 9d; Toohev’s, 28s 9d; Dunlop Perdriau, 16s 4.’.d; Winchcombe Carson, 28s 4 id; Greater J. D. Williams. 6s 4d; Amalgamated Textiles. 9s lid; Drug Houses Australia, 26s 3d; Hume Pipe. 14s; Henry Jones, 36s 6d: Broken Hill Pty.. 575: Broken Hill South, 9s 3d: Rawang Tin. 7s 4d; Malim Nawar, 14s; Placer Development, £2B; Luratha Gold. 3s 4d.

Purchase of dollar bills 4.96 4.95 On a New Zealand currency basis these rates are equivalent to: U.S.A. Canada. Dol. Dol. Selling-— T.T 3.96 3.95A On demand 3.96S 3.95 2 Buying— On demand 4.011 4.01 i