COMMERCIAL ITEMS

Dominion, Volume 20, Issue 63, 8 December 1926, Page 14

COMMERCIAL ITEMS

SALES IN OTHER CENTRES BY TELEGBAPH. — PBE-SS ASSOCIATION. Auokland, December 7. Sales.— City of Auckland (1940), 61 per cent- £96 lOsl; New Zealand Breweries debentures, 245. ild.; Bank of New Zealand. 595. 3d.; New Zealand Insurance, •27s 9d.; Farmers' Co-operative Auctioneering (B pref.). 175.; Loan and Mercantile, £96; Northern bteam. 14s. 3d.; National Timber, 14s- 6d.: New Zealand Breweries, 525. 3d.; J. Staples and Co., 375. 6d.; His Majesty’s Arcade Theatre (pref.). 215.; Milne and Ohqycq <lebenture stock, 245. 3d.; Moanataiari. ss. Bd.; ditto (contrib.), 55.; Kawarau. 3s. 3d.; Lucky Shot (contrib.), is. 5d.: New Zealand Consolidated, Is. 3d.; IVaihi, 17s. 6d.; Grand Junction, 2s. . - Dunedin. December 7. Sales.—Dental and Medical, 17s. 6d.; National Electric, 19s. 3d. Sales Reported.—s 4 per. cent. Inscribed Bouds (1933), £101; Kawarau, 3s. 4d. GISBORNE SHEEP FARMERS’ MEAT CO.

The statement of accounts of the Gisborne Sheep Farmers’ Frozen Meat and Mercantile Co. Ltd. for the year ended August 31 last, shows that the net profit in the freezing department was £854, as compared with £2521 in the previous year. Tho gross profits amounted to £55,737, which compares with -4'53,249, and the expenses totalled <£54,883, against £50,728. In the mercantile department, the gross profits amounted to £31,175, against £35,887, and the expenses under all heads to £25,335, against £2(5,002, leaving the net profit at £5840,

against 49821. The total net profit for the year was 46694, against which was charged the surplus assets expenses of 42332, leaving the actual profit at £4362, which with £203 brought forward made available 41565. The dividend on preference shares to the end of the financial year absorbed £975, there was transferred to the reserve for bad and doubtful debts the sum of. 43500. leaving .£9O r o bo carried forward. The bad debts written off during the year was 412,768, and with the further provision of 43500, the losses under this head would appear, to have been fully met. The items of the balance-sheet with the figures for last year in parentheses are us follow: Liabilities—Capital paid up 4-136.928 (£421.193); calls paid in advance, £1220 (41621); debentures 4300,000 i £300,01)0); mortgage 44'167 (£4BC>4); leasehold sinking fund. £2314 (£2314); employees’ mutual benefit, 4287 (£287); Bank overdraft 4109,308 (4131,143); Marine insurance reserve, 45757 (£5120); unclaimed dividends, 433 (433); cash deposits, £BOO £800); sundry creditors, 418,723 ( 425,641): accruements 413,418 (nil); profit and loss, 44565 (£13.06-1). Assets—Freehold land, buildings, etc., 4671,063 (4669,410); consignments, less advances, 4315 (42943); stocks, shares and loans, 416.404 (416.953); unexpired insurance premiums, £3243 (44295); bills receivable, nil (4274); mortgages, 4580 (£580); sundry debtors, 4101.216 (493,735); sundry deposits. 416 (415); cost of floating debenture issue, 46G71 (48003); surplus assets for realisation, 432,056 (433,169); amalgamation expenses, nil (£1381); accruements, nil (44593), stock and materials, 466,752 (470,728). Totals, 4898,321 (4906.079). GEAR MEAT COMPANY Tho balance-sheet of the Gear Meat Company for the year ended November 30 was circulated yesterday." and, as usual, the document shows satisiactory results. The profit on sales and manufactures and transfer fees, totalled 480,772, as compared with’ £87,844 _in tlie previous year, a shrinkage of 47072, partly due, no doubt,...tq.„the. smaller amount received in interest from investments. The expenses and charges totalled 416,198, against 412.106, leaving the net profit at 464,574, against 475,738. There was brought forward from the previous year the sum of 420,399, making available 484.973. against £96,649. Out of this ’ 45090 Ims been added to the reserve fund, against 415.000, and 45000 to the insurance fund against 45000 in tho previous year. The appropriation for taxation is 414,500, against 416,090. ami the dividend for the year at Is. 9d. per share, (id. of which was paid as an interim dividend, absorbs 440,250. and is at the same rate as was paid last year, leaving to be. carried forward 420,223. In addition to the dividend, a bonus of 3d. per share out of the insurance reserve account is declared, making dividend and bonus equal to 2s. per share, or 10 per cent. The results, though not quite so good as in the previous year, arc nevertheless very satisfactory and provide a striking contrast to the operations of most other freezing concerns. The items of the balance-sheet, with the figures for the previous year in parentheses, arc as follow:—Liabilities: Capital paid up. 4460,000 (4469,000); sundry creditors, 475,328 (4117.765); reserve fund, £20,000 (415.000); insurance re. serve, 455,538 (450,737): profit am! loss, less interim dividend, 463.473 (465.149). Assets: Freehold property, working plant, etc.. 458,100 (453,690); sundry debtors and deposits. 4358,273 (4369.159); stocks, 438.441 (428,977); investments, 4194.916 (£239,103); credit at bank. 423.951 (411,644); eash in hand. 4659 (41168). Total, 4671,340 (4708,651). TARANAKI OIL FIELDS By Telegraph.—Press association. New Plymouth,. December 7. Taranaki Oil Fields, Ltd., report: “At Waiapu No. 2 well, 80 per cent, of all the material on the site of the camp has been erected. The derrick is two.-thirds, conwleted. All the work, is progressing', satisfactorily. At Okoke (North Taranaki), necessary repairs to the bridges for the transport of material are being Carried out.’’ LITTLE CHANGE AT MELBOURNE. Melbourne, December 7. At the wool sales the ’.narket showed, little change. The top price realised was 29Jd. per lb. PRICES OF METALS. (Rec. December 7, 8.45 p.m.) London, December 7. Copper.—Standard, on spot. 457 Is. 3d. per ton; forward delivery, 457 16s. 3d. Lead.—42B 15s. and 429 3s. 9d. Spelter.—£33 i’s. 6d. in both positions. Tin—43l3 17s. 6d. and 4299 12s. 6d. Silver.—Standard, 24j|d.; fine, 26 5-16 d. per ounce. RUBBER STOCKS IN LONDON. (Rec. December 7, 7.10 p.m.) London, December 7. Rubber stocks, 44,495 centals. CUSTOMS REVENUE. ’ The Customs revenue collected at the port of Wellington yesterday totalled £7199.

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the afternoon call yesterday a sale of Gear Meat shares at 37s. Cd. cum divideml was reported ami this was the only transaction recorded during the day. L’liere was a good demand lor Governincut stocks and bonds with buyers of the 41 per cents, at 4:96 15s., the 5 par cents, at 499, and the 51 per cents, at t £100 15s. New Zealand Breweries bonds were firm at 24s. Gd. Bank shares were firm and in good demand with bids oi National Bank of New Zealand at 4:7 Is,, Bank of New Zealand at 59s.. and Bank of New Zealand rights at 6s. Gd., Bank of New South Wales at 7s. Gd., Union Bank at .£15 4s., and Western Australian Bank at 51s. N.Z. Guaraiilee Corporatoiu shares were steady, the ordinary being in demand at 3d., and the preference at 20s. Gd, New Zealand Investment shares were wanted nt 9s 3d. Wellington Investment at Ids. Gd.. and Wellington Trust and Loan at <£G 10s. There was a bid of 24s. for Christchurch Gas shares, and 2fis. for Wellington Gas ordinary, and 16s. 3d. for preference. National Insurance shares were steady at 72s. Gd. Union Steam preference shares were wanted at 20s. 3d., and Kelburne Trams at 27s. There were buyers of Crown Brewery at 20s., New Zealand Breweries at 52s. 6d„ Staples and Co. at 37s„ and Ward and Co. at 42s. 7d. In tlie miscellaneous section there were bids of tor British Tobacco, ordinary, 39s. for Burns Philp and Co., 36s. lid. for Electrolytic Zinc, preference, 70s. for Farmers' Auctioneering ordinary, and 2ls. for New' Zealand Milk Products. Yesterday's buying arid sellihg quota-

N.Z. riOVT. LOANS— Buyers. £ s. d. Sellers £ s. d. 41 p.c, I nfc. Stk.. 1939 ■ • 97 0 0 44 p.c. ditto, 1938 .... •— 96 17 G 51 n.c. ditto, 1933 .... 100 15 0 — 51 p.c. ditto. 1936 .... 109 15 0 —• 41 p.c. Bonds. 1938 .. 96 15 0 51 p.c. ditto, 1933 ,... lot. 15 0 —— 5) p.c. ditto. 1936 .... IOC 15 0 —— 5 p.c. P.O. Bonds, 1927 99 0 0 99 5 0 DEBENTURES— N.Z. Breweries (bonds) 1 1 6 1 5 0 Petone/Lower Hutt, 95 10 p.c., 1927/1952 0 Mnkerua Drainage ... —• 101 0 0 BANKS— National of N.Z. .... L 1 0 New South Wales .... 44 y 6 4o 0 0 New Zealand o 19 0 2 19 6 Ditto (rights) o 6 6 0 6 8 Union of Australia .. 15 4 0 15 G 0 Western Australian .. o 14 0 FINANCIAL— Abraham and Williams (ord.) 4 2 0 Ditto (pref.) 4 15 0 Equitable Building .. 9 15 0 N.Z. Guarantee Corp. (ord.. Ss.) Ditto (prof.) 0 10 3 —— 1 0 6 N.Z. Invest., Mortg. .. 0 9 0 —— N.Z. and River Plate.. — 1 4 6 Wellington Investment 0 10 6 0 11 0 Well. Trust, Loan .... 6 10 0 ——. Wellington Deposit .. ■— 0 10 4 GAS— Christchurch 1 4 0 9 Gisborne o.ll Wellington (ord.) .... 1 6 0 1 7 0 Ditto (pref.) 0 10 3 0 17 6 Ashburton — 5 0 0 INSURANCE— National 3 12 6 — MEAT PRESERVING— N.Z. Refrigerating (10s.) Gear • ••• 0 6 J 18 11 0 TRANSPORT— 3 Union Steam (pref.).. 1 0 •— P. and 0. def. stock.. —- 247 0 0 Kolb, and Karorl Tram. (ord.) 1 7 0 — WOOLLEN— 0 15 Kalapol (pref.) —- G Wellington lord.) .... G 12 G Ditto (new issue) .... 6 10 0 COAL— Westport Wains — 1 1G 0 15 0 TIMBER— Taringamtttu — 1 G 0 National .; BREWERIES— —— 0 16 0 Crown 1 0 0 Manning and Co —— 1 1 0 Now Zealand 2 12 6 —— Staples and Co 1 17 0 Ward and Co 2 2 7 2 5 0 MISCELLANEOUS— British Tobacco (Aust.) (ord.) 10 0 *— Ditto (pref.) 1 0 9 Burns. Philp, and Co. 1 19 0 Electrolytic Zinc (ord.) — 1 16 8 Ditto (pref.) 1 10 11 1 17 3 Farmer!s’ Co-op. Auct. (ord.) 3 10 0 Howard Smith ■— 1 12 6 N.Z. Milk Products (bonds) 1 1 0 I 3 0 Scoullar Co 1 2 9 Sharland and Co. (ord. and prof.) — 1 2 6 Smith & Smith (pref.) Wairarapa Farmers’ (£5) — 0 19 0 — 4 0 0 Ditto (pref.) 0 16 0 MINING— Blackwater Mines .... 0 0 Waiht 0 17 0 0 IS 0 Kawarau 0 3 4 —