COMMERCIAL

Press, Volume LXXIX, Issue 23966, 5 June 1943, Page 6

COMMERCIAL

STOCK EXCHANGES Markets continued firm yesterday. but recorded dealings were restricted to a few stocks. There was strong inquiry for Government loans and industrials , . Sales on ’Change.—Listed Stocks, iw Bank of New Zealand 41s 6d. Sales Reported.-Usted Stocks, 54 Wellington Woollens (6rd.), £8 5s (2), oo Wellington Woollens <pref.) (late sale on Thursday). £8 7s fid; 100 Seath and C°™‘ pany, 24s 3d; 300 Macduffs (pref.), 22s 6d. Trend of Markets Buvers’ offers for N.Z. Govt. 4 per cent.'Stock, 1949, at £lO2 17s 6d; 4 per cent. Stock. 1952. at £lO4, and 4 Per cent. Bonds, 1949. at £lO3, revealed firmer markets. Bank of New Zealand were steady, with sellers and business at 4is 6d. Buyers of Union Bank of .Australia raised their bids to £7 12s, without attracting sellers. An offer of £lB 15s for Christchurch Building, met with no response. Goldsbrough. Mort were s r ™ r on buyers’ offers, 28s 4d. United Building were stronger with buyers at 21s 9d? sellers at 235. Wright. Stephenson continue to show improvement and buyers’ quotes of 24s 9d failed to attract sellers, A buying offer of 22s 3d for Kaiapoi Woollens (pref.). met with no response. Manawstu Knitting were firmer on buyers’ offers, of 365. Mosglels were stronger on buyers* offers, of £ll l^ s - Buyers of Oamaru Woollens moved up to - 255; but sellers were scarce. Wellington Woollens changed hands at £8 os, and there were further buyers at that price. A late sale of the preference on June 3 was reported at £8 7s 6d, and more were wanted at that figure, sellers at £8 12s 6d. The market for Kaitangata Coal was wide, buyers 32s 6d, sellers 375. Brewery shares were firm at recent levels. Buyers of Alloy Steel (N.Z.) rose sharply to 38s fid, no sellers. Beath and Company had business at 24s 3d. market closing 3d either way. Dunlop Rubber were firmer with buyers at 21s Bd. Electrolytic Zinc (pref.) claimed buyers at the improved price of 56s 9d, no sellers. Buyers of Hay's raised their bids to 33s fid for the fully paid and 28s fid for the contributing, but sellers are scarce. Macduffs (pref.) were firmer with business at 22s fid and further buyers at 22s 3d. N.Z. Farmers’ Co-op. (4J per cent. Stock, due 1949) was stronger on buyers’ offers, .£96 10s. There was a close market for Woolworths. Ltd., at 15s lid buyers, 16s Id sellers. LATEST QUOTATIONS Debentures.—North Canterbury Hospital Board (4J p.c.), 1/8/58), s. £lll 10s; Auckland Gas, 3J p.c. Perpetual, b. £B7 10s, i. £BB ss; Booth, Macdonald 5 p.c. (1/6/47), b. £9l; N.Z. Refrig. 4J p.c. (1/8/45), b. £lOl 10s. Banks.—Australasia, b. £9: Comm, of Aust., b. 16s fid, s. 17s; Comm, of Aust. (pref.), b. £lO ss. s. £lO 15s; Natl, of Australasia (£lO paid), b. £ll 14s, s. £l2; National.of Australasia (£5 paid), b. £5 10s; New South Wales, b. £32 10s; New Zealand, s. £2 Is fid; N.Z. (Mortgage shares), s. £1 12s 3d; Union of Australia, b. £7 12s. Frozen Meat.—Canterbury, b. £l3 10s; Canterbury (pref.), b. £7 19s; Gear, b. £1 Is 9d; N.Z. Refrig. (£1 paid), b. £1 5s fid, s. £1 6s fid; N.Z. Refrig. (10s paid), b. 12s 2d, s. 12s sd; Southland, b. £1 18s, s. £2 0s 9d; Waitaki, b. £5 10s. Breweries.—Ballins. (15s paid),'b. 15s; Dominion, b. £1 17s; Dunedin, b. £1 0s fid; New Zealand, s. £1 17s fid. Miscellaneous.—Alloy Steel (N.Z.), b. £1 18s fid; Andersens'(lst pref.), b. £1; Beath and Company, b. £1 4s, s. £1 4s fid; Beath and Company (pref.), b. £1 4s; Donaghy’s Rope (ex div.), b. £2 17s; Evans Atlas Flour, b. £1 4s fid, s. £1 7s fid: G. J. Coles, b. £2 15s 9d. s. £2 18s; Hay’s. Ltd., b. £1 13s fid; Hay’s, Ltd. (contr.), b. £1 8s fid; Hume Pipe (Aust.)* b. 13s lid; N.Z. Drug Company (£1 pd,), s, £2 15s; N.Z. Paper Mills, b. £1 17s; Qui'h Morris (1936), b. £1 4s fid; Urlwins (pref.), b. £1 2s fid; Whitcombe and Tombs, b. £5 6s. N.Z. Mining.—Arahura, b. £1 7s; Arahura (deferred), b. £1 0s fid; Austral. (N.Z.), b. 12s fid, s. £1; Grey River (cun div.), b. 14s, s. 15s; Ngahere, b. 6s, s. 8s; Snowy River, b. 75.. Unofficial List Amalgamated Batteries, s. 13s; Associated Motorists Petrol (pf.), b. £1 4s fid: Australian Motorists Petrol, b. 12s fid; Carbonic Ice, b. £1 10s fid; Christchurch Press, b. £9; Fletcher Holdings (ord.), b. £1 4s 9d; John Fuller and Sons Debs., b. £7O; N.Z. Oil Concessions, s, £1; E. Reece. Ltd. (pref.), b. 6s; Scales “C" pref., b. 3s fid; Whakatane Paper, s. 9s fid; Whakatane Paper (pref.), b. 18s. AUCKLAND Sales.—War Loan. 1/10/53, £93 17s fid; Liberty Loan, 15/5/53-56, 3 p.c., £97 17s fid; N.Z, Govt. Stock, 15/6/52-55. 4 p.c.. £lO7 10s; Comm. Bank. 16s fid; Bank of N.Z., 41s fid: Newton King (pref.), 17s; Loan and Mercantile, £35; Dominion Breweries,, 36s fid; British Tobacco, 47s fid; Colonial Sugar, £55 10s; Woolworths, (N.Z.). 15s 4d (3); Woolworths (Sydney), 15s 10Jd; Arahura (deferred), 225. WELLINGTON Sales Late Thursday: New Zealand Government Stock, 15/5/53-56 (2), £9B; Colonial Sugar, £55 10s; Woolworths (N.Z.), 15s 4d. Yesterday; N.Z. Government Stock, 3 per cent., 15/6/53-56, £9B; 4 per cent. Stock, 15/6/52-55, £lO7 10s; Rotoitt Timber, fis; British Tobacco, 47s fid; Macduffs, 22s fid; Mount Lyell, ,295. DUNEDIN Sales Reported,—Late Thursday: Wellington Woollen (pref.), £8 7s fid. Yesterday: War Loan. 1953, £93 17s (jd; Woolworths (Sydney), 15s lOd.

COMPANY NEWS

FARMERS' TRADING COMPANY “ The Press ” Special Service AUCKLAND, June 4. The accounts of the Farmers’ Trading Company for the year ended March 31 show a net profit of £43,773, compared with £48,439 in the previous year, and £75,997 in 1941. The profit is shown after making provision for taxation amounting to £220.478. The directors recommend a dividend on ordinary shares of 5 per cent, (unchanged). The usual dividends on preference shares will be paid. The report stated that the company had had a good trading year, gross profit being £383,614, compared with £412,625 in the previous year. Dividend Recommended.—The directors of the Dominion Breweries recommend a final dividend of 4 per cent., making 8 per cent, for the year, payable on July 2. compared with 7 per cent, last year.—(P.A.) MINING ASSOCIATED GOLD DREDGES The Receiver’s report for the year ending March 31 states that the gold recoveries during the year totalled 8376 ounces of a gross value of £85,951, from which war tax, customs duty, insurances, and other charges amounted to £17,065, leaving net bullion proceeds at £66,886. The profit on di edging operations prior to meeting administration, legal, and receivership expenses was £30.522, to which must be added profit on sale of surplus plant and equipment amounting to £1925, and other small amounts from Interest and rents received. Net profit for the year was £23,153, which had been transferred to appropriation account, leaving the credit balance in this account at £28,750. Both Marsden and Red Jacks dredges operated on a profitable basis throughout the year but it was only over the last few months that the Atarau dredge had shown satisfactory recoveries. The bank overdraft had been reduced from £54.759 at March 31, 1942, to £II,OOO as at March 31, 1943, and dredge contract creditors, whose accounts were £46,713 in 1942, were reduced to £19,763 as at March 31, 1943. The report of the chairman of directors states that since March 31 recoveries had been on an increasing scale, and further reductions had been made in the company's liabilities. To-day the bank overdraft stood at £BSOO, and the accounts of the dredge contract creditors had been reduced to £14,888. Maori Gold Dredge, Ltd.—The Maori Gold dredge return for the week ending June 4 was 370z 4dwt from 13,400 yards worked in 123 hours.