THE SHAREMARKETS

Wanganui Chronicle, Volume 79, Issue 180, 31 July 1936, Page 11

THE SHAREMARKETS

DOMINION EXCHANGES [Per Press Association] AUCKLAND, July 30. Sales on ’Change.—Stock, January 15, 1940, 4 per cent., £lOl ss; Mt. Eden, April 1, 1949-54, 4i per cent., £lO5 10s; National Insurance, 18s 6d (2); N.A. Farmers’, B pref., 14s; Westport Stockton, Is 6d; Northern Steam, cont., Is 3d; Kauri Timber, 24s 4d, 24s 6d (2); Taupo Totara, 10s 9d, Kaiapoi, cont., 6s; Australian Glass, 89s 6d; Broken Hill Pty., 72s 6d; Con Brick, 9s 6d (3); Electrolytic Zinc, pref., 43s sd; Macky Logan, 20s; New Zealand Newspapers, 40s 3d; King Solomon, Is 3d; Skipper’s, 3id; Waimumu Sluicing, lOid. Unofficial List.—Shilling’s, 16s; Woolworths (Sydney), £5 12s. WELLINGTON, July 30. Sales on ’Change.—Bank of New Zealand, 41s (late Wednesday); Wellington Woollen, ord., £6 8s 6d; Procera, ord., 30s 3d, 31s 6d, 335; Mossy Creek, Is 7d; Kauri Timber, 24s 4d; G. J. Coles, 765. Unofficial List.—Woolworths (West Australia). Ltd., £5 17s; Woolworths, Ltd., £5 Ils. CHRISTCHURCH, July 30. Sales on ’Change, Unlisted Stocks Macetown, 3d; Selfridge’s (Australasia, new), 24s 9d. Sales Reported, Unlisted Stocks.— Shilling’s, Ltd. (12s 6d paid), 16s. Sales on ’Change, Listed Stocks.— Goldsbrough Mort., 31s 6d; New Zealand Guarantee Corporation, 5s 6d; New Zealand Refrigerating (10s paid), 9s 8d; New Zealand Breweries, 53s 6d; Timaru Brewery (in liquidation, ex. distrib.), 3s 3d, 3s 6d, 3s sd; Broken Hili Pty. (15s paid), 52s lid; Electrolytic Zinc (ord., cum. div.), 41s 3d; G. J. Coles, 75s 8d; Kauri Timber, 24s 3d; Procera Bread, 30s (4); Big River, 2s Id (3); Brian Boru, 33d; Mt. Lyell, 25s 6d, 26s 9d (3); Mt. Morgan, 14s 4d. Sales Reported.—Mt. Morgan, 14s sd; Bank of New Zealand, 41s (late sale 29th); Bank of New Zealand, 40s 9d (4); New Zealand Guarantee Corporation, 5s 6d; Broken Hill Pty., 735; Broken Hill Pty. (15s paid), 535; Colonial Sugar, £43 7s 6d; Consolidated Brick, 9s 6d; G. J. Coles, 76s 3d; New Zealand Drug, 75s 3d; Mossy Creek, Is 7d; Procera Bread, 33s 9d.

C. L. 1) UIGAN & c°” STOCK AND SHAREBROKERS, 75, RIDGWAY ST., WANGANUI (Est. 1896.) untry Members, Wellington Stock Exchange. ’Phone 3566.

REDUCTION OF CAPITAL I N.Z. WOOLSACK AND TEXTILES, LIMITED. Mr. A. W. Press, chairman of New Zealand Woolpack and Textiles, Ltd., Foxton, in moving a resolution regarding reduction of capital, said that he was pleased to be able to report that progress was being made at the mill in the improved method of pre-treatment of fibre intended for spinning and that the out-turn of yarn on one day of last week con- | stituted a record. He felt that the steps shareholders were asked to take in ridding the company of its accumulated Josses and unsupported bal-ance-sheet asets represented a milestone in the rehabilitation of flaxgrowing as an organised national industry. The programme of the Government, already in active operation, of planting suitable areas with selected flax plants and the assistance given to the factory works proved the basis for the establishment of a flax industry which would be more profitable than it had been for the last decade. The chairman then moved the following resolution, which was carried: "That the capital of the company be reduced from £300.000 divided into <300,000 shares of £1 each to £75,000 divided into 300,000 shares of 5s each, and that such reduction be effected by cancelling capital which has been lost or is unrepresented by available . assets to the extent of 15s per share : upon each of the 100,848 shares which ' have been issued and are now out- i standing and by reducing the nominal i amount of all shares in the capital of the company from £1 to 5s per < share.” In thanking the shareholders for < the confidence they had shown in the j proposals of the directors, the chair- 1 man drew attention to the many ap- ‘ preciative letters received from share- J holders and users of the flax packs. i '• 1 <