MARKET FIRM

Dominion, Volume 28, Issue 90, 10 January 1935, Page 12

MARKET FIRM

Sydney Stock Exchange MINING SHARES ACTIVE By Telegraph.—Press Assn.—Copyright. (Received January 9, 5.50 p.m.) Sydney, January 9. On the Sydney Stock Exchange to-day the investment market was firm at the recent higher levels, although the turnover was somewhat restricted, but there was plenty of activity in mining shares. Sales: Bank of New South Wales, £32 5/-; Commercial Bank of Sydney, £l7 14/-; Colonial Sugar, £42/17/6; Associated News, 24/9; British Tobacco, 40/6; Tooths, 51/6; Dunlop Perdriau. 20/-; Goldsbrough Mort. 30/3; Electrolytic Zinc, pref., 33/3 ; Farmers, 27/104 ; Anthony Hordern, 19/7iBroken Hill South, 77/6; Larut Tin, 11/-; Bulolo Deposits, 1/-; Plaeer Development, £24/15/-; Morning sales included :—Commonwealth Bonds, 4 per cent., 1938, £lO3/5/-; 1941. £lO5/7/6; 1961, £111; Commercial Bank of Sydney, £l7/14/-; Tooths, 51/6; Anthony Hordern, 19/9; Associated News, 25/10J; pref., 25/-; Broken Hill Proprietary, 54/6; Burns, Philp South Sea, 23/9; James Stedman, 17/9: Wilcox Mofflin. 9/10. Melbourne, January 9. Sales on the Melbourne Stock Exchange to-day included : —British Tobacco, 40/3; Commercial Bank of Australia, 16/7; ditto, pref., £lO/1; Australian Glass, 61/-; Mt. Lyell, 17/C; Colonial Sugar, £43; Taranaki Oil, 9d. DEALINGS ON ’CHANGE Yesterday’s Sales The following sales were recorded yesterday on the stock exchanges mentioned :— WELLINGTON. £ s. d.

NATIONAL MUTUAL LIFE ASSOCIATION Great Increase in Policies The 65th annual general meeting of members of the National Mutual Life Association of Australasia Limited, was held in Melbourne recently. In the absence of the chairman of directors (Sir John MacFarlane) through illness, the vice-chairman (Sir David Orme Masson) presided. Presenting the annual report, the chairman said: “The number of new policies issued. 23,056, is larger than the number issued in any previous year. The amount assured under these policies, £9,119,607, is £1,542,162, or more than 20 per cent, greater than the new amounts assured in 1933, Our total income for the year from premiums, interest, and rents was £5,107,949, but following our usual practice the revenue account shows the amounts paid to other life companies for re-assurance premiums and to various governments for taxes as deductions from the total income, leaving a remainder of £4.902,114. Fewer Surrendered Policies. “The amount paid to policy-holders for death claims, matured policies, surrenders, annuities, and cash b0nu5e5—£2,857,242 —is £186,466 less than the amount so paid in 1933. Death claims wete £19,200 less; maturities, £65,800 less; surrenders. £91,900 less; cash bonuses paid £10,400 less. The most significant of these figures is the reduction of the amount paid to members for the surrender of their policies. This, following the reduction reported at our last meeting, may be taken as an indication that the general conditions are improving, and that our members are not being driven to realise what is in most cases their most valuable asset. Tlie total expenses of management were £32.800 more than in 1933. This increase is due mainly to the increase in the amount of new business transacted, the cost of which is in direct proportion to the new premiums received. “The result of the year’s tranactions is that the assurance fund has been increased by £1,607.832, and it now stands at £37,851,006. If to this is added the amount of the investment fluctuation reserve and the staff superannuation fund the total funds of the association are £38.605,729. “The distribution of the assets is shown in the balance-sheet. Goi;erninent securities are £965.500 more than they were a year ago; Melbourne and Metropolitan Board of Works stock is £30.600 more; municipal debentures are £38.000 less; loans on mortgage are £20.000 less; loans on policies Issued by the association witii collateral security are £148,000 more; house property in £30.000 more.'' Referring to the increases of £160.000 in the amount of cash in hand and £269.000 in cash on deposit Hie viee-chairnuin drew attention to the prevailing condition of the Investment market and pointed out that every institution with funds to invest has difficulty in finding an millet for them. This condition affected interest income and it was doubtful if improvement could be expected until the facilities for trade and intercourse between the nations of the world were improved. In concluding. Sir David Orme Masson said. “This, as T have said, completes the Gsth year of the association; it is yet iu its infancy. But it is interesting to see what has been accomplished so far. During the 65 years the association, has received from its members in nremiiims £61.221.960. and interest received amounts to £26.592.090. It has distributed ns bonuses among its members £16.200 000. It has paid to its members £42.122.000 and it hns in hand belonging to ifs members funds amounting to £38,695,000.” — P.B.A.

N.Z. Breweries Ditto Ditto *2 12 6 2 12 9 2 12 6 Colonial Sugar 42 12 0 Dunlop Perdriau 0 13 10 AUCKLAND. Inscribed Stock, 4 p.c., 1946 .... £ s. d. 105 12 6 Ditto, 4 p.c., 19445 105 10 0 Bank of New Zealand 2 8 10 Reserve Bank 0 110 Ditto 6 12 6 Dom. Invest, and Building Assn. 0 16 I! Consolidated Bricks (3) 0 10 3 N.Z. Newspapers 1 13 0 Goldfields Dredging 0 0 9 Skippers 0 0 8 Waihi 1 19 1 Unlisted: — Auck. Trotting Club, GA p.c., 1944 100 5 0 Silknit 2 0 6 CHRISTCHURCH. Bank of New Zealand £ s. d. 2 9 1 Ditto, D mort 1 12 0 Reserve Bank (2) 6 10 0 National Insurance 116 N.Z. Guarantee Corpn 0 5’11 N.Z. Rafrig., 10/- paid 1 0 9 N.Z. Breweries 2 12 3 Ditto (4) 2 12 7 Amal. Wireless, con 2 2 6 Big River 0 2 10 Goldfields Dredging 0 0 8 Nevis Diesel O 0 n Nokomai 0 3 0 Sales reported— Bank of iNew Zealand ,. 2 9 1 Goldsbrough Mort 1 10 3 'N.Z. Itetfrlg.. 10/- paid 0 10 4 N.Z. Breweries 2 12 6 Beath and Co., 1/- paid 0 9 6 British Tobacco 2 0 3 Dunlop Perdriau 0 19 9 Ditto 0 19 10 Goldfields Dredging 0 0 84 Nokomai 0 2 lit Big River 0 2 10 Unlisted— Maori Gully (2) o i r>4 Ass. Mot. Petrol, pref 1 2 0. DUNEDIN. Colonial Sugar £ s. d. 42 15 0 N.Z. Breweries 2 12 6 Nokomai (2) 0 3 0