STOCK EXCHANGE NOTES.

Wairarapa Daily Times, Volume 45, Issue 13986, 24 November 1919, Page 6

STOCK EXCHANGE NOTES.

As a result of the distribution of unallotted preference shares in the WelJngton Woollen Company, the shares had a sharp rise. Union Bank and Bank of Australasia shares have had a decided rise. Loan and Mercantile, Westport Coal have also advanced. At the present date P. and O. stock stand at about £670, or a little higher, which is. the highest figure reached here. Mining stocks are more in evidence, and indications, point to greater activity in the near future. Waihis rose considerably, the movement Originating in London.

P. and O. Company.—A recent cable from Home states:—lt is estimated that the P. and O. distribution will be equal to a bonus of 40 per cent.

Bank of New Zealand.—The Minister of Finance has sanctioned the Bank's proposal to call up the £3 6s 8d per share of uncalled capital on the 150,----000 shares at present paid to £3 6s 8d only. The call will be made in January next, and will be paybale in one amount on Ist April, 1920.

Bank of Australasia.—Tho Bank of Australasia proposes to issue 25,000 further £40 shares, and is also seeking power to capitalise its reserves and distribute as a capital, bonus.

National Insurance of N.Z.—Balance sheet as at 30/9/19. Net profit (including previous balance, £35,273 lis 9d) is £78,428 17s Id. Out of this a dividend and bonus of 15 per cent absorbs £30,----000. Reserve fund £15,000, and the balance £33,42S 17s Id, carried forward.

South British Insurance.—The question of subdividing the shares is being considered by the directors.

Westport Coal Company.—Balancesheet year ending .'SO/9/19. Net profit, £40,563 5s 9d, plus previous balance £12,236 8s 3d, making a total of £53,099 14s. Interim dividend of 6d has been paid—£ll,2so, and it is proposed to disperse the balance as follows:—Dividend, 1/3 £28,125. Employees' fund £2000; carry forward, £11,724 14s. It is also proposed to pay a bonus of 3d out of insurance fund.

Abraham and Williams, Ltd.—At the annual meeting of Messrs Abraham and Williams, Ltd., a dividend of 8 per cent for th e year was declared. At an extraordinary general meeting following, the capital of the company was increased to £500,000 by the creation of 50,000 shares of £5 each, 10,000 of such shares being preference shares, carrying the right to a fixed cumulative preferential dividend at the rate of 6 per cent per annum, and 40,000 ordinary shares of £5 each.

Financial Position.—On 30th September the total amount of free deposits in the banks was £30.331,317, and of fixed deposits £15,041,468, as againts total advances of £30,149,774, disclosing a remarkably strong position with large supplies of capital available for suitable investment.