FINANCE & COMMERCE

Dominion, Volume 36, Issue 14, 12 October 1942, Page 3

FINANCE & COMMERCE

Bank Of England Return (By Telegraph.—Press Assn. —Copyright.) LONDON, October 8. The Bank of England return for the week ended October 7 is as follows: Issue Department.

Government Stock Prices (By Telegraph.—Press Assn.—Copyright.) LONDON, October 8. Government stocks are quietly steady. The following table gives the mean Stock Exchange quotations for consols and colonial inscribed stocks, compared with

Farmers’ Auctioneering Co. : A net profit for the year ended July 31 of £74,379. compared with £G(J,SO6 last year and £09,432 in 1940, is shown In the accounts ot the Farmers' Co-operative Auctioneering Co., Ltd., Hamilton. The result is reached after providing for baddebts and depreciation. This year taxation Is shown separately as £52,000, and when this-is deducted- from -the profit and the amount -of £6443 is brought in, there is £28,822 available. Preference dividends paid In February and August required £12,060, leaving £16,162, out of which it is proposed to pay a dividend of 4 per cent, on ordinary shares, taking £9069, and leaving £7093 to -be carried forward. The ordinary dividend compares with o per cent., which had been maintained s-ince 1936. Farmer & Co. Lower Profit Farmer and Co., Sydney, report a net profit of £93,115 for the year ended July 31, against £110,044 the previous year. This is the -lowest profit since 1936. Ordinary dividend is reduced from Si per eent. to 7* per cent. The directors say taxation greatly exceeded net profit, and was almost double the amount paid in the previous year. « W. R. Carpenter (Fiji), Ltd. Net profit of W. It. Carpenter (Fiji), Ltd., increased to £93G6 for the year ended -March 31 from £1441 for 1940-41. Ordinary dividend of 10 Per cent., the first since 1037, requires £6094, and the 7 per cent, preference dividend absorbs £l4OO. Gold Mining The -Snowy River dredge last week re, turned 167j0z. for 110 hours -from 18,000 yards. Alexander Mines, Limited, report the following return for September:—Battery department: 153 tons of ore were crushed for 420 z. l-Jdwt. of melted gold; estimated value, £330. Cyanide department: This has not been cleaned up’. In addition, concentrates were saved amounting to 2.75 tons, valued at £OO. Note: In estimating the above values, gold has been taken at 160/- per lino ounce. Fruit And Vegetable Prices Prices of fruit and vegetables in the Wellington markets are quoted by Market Gardeners, Ltd., as follows: Passionfruit, 26/- -to 28/6; N.Z. grapefruit, 20/- to 27/9 a case; rhubarb, 12/- to 24/-; radish, 2/- to 4/-; celery, 12/- to 24/-: asparagus, 9/- to 18/-; turnips, 3/to 4/-, al l a dozen bunches; cucumbers, 8/- to 18/- a dozen; spring onions, 4/9 to 9/- a bunch; cauliflower, 7/- to 16/6 a sack; lettuce, 10/- to 17/6; leeks, 9/- to 19/6; cabbage, 6/- to 11/-; silver beet, 3/to 4/6; rhubarb, 7/6 to 8/6; celery, 7/- to 9/-; spinach, 6/6 to 9/3; cauliflower, 10/to 13/6; beetroot, 5/- to 10/-, all a case. Dow Jones Averages (By Telegraph.—Press Assn. —Copyright.) NEW YORK, October 9. Dow Jones averages (1936 equals. 100) and turnover on the New York Stock Exchange compare as follows:— roads. Industrials, sold.

Stock And Share Indices (By Telegraph.—Press Assu.—Copyright.) LONDON, October 10. •‘Financial Times” stock and share indices. with previous quotations are (October 15, 1926, equals 100): — Govt. Home Indus- Gold-

Cable & Wireless, Ltd. Lord Pender, governor of Cable and Wireless (Holdings), Ltd., in his annual address, referred to the company’s holdings. Largely as a result of the Government’s financial policy, he said, the rjso in values last year had continued. “The book value of our investments at December 31 last, was £16.208,058, and the market value was £14,413.180, showing a depreciation of £1,794,878, or 11 per cent., as against a depreciation of 19 per cent, at December 31, 1940,” he said. “Total investments were increased by a very substantial amount, as a result of further subscriptions to various new Government issues. About 93 per cent, total market value of investments is represented securities within the British Empire.”

£ ■*- Note issue: Govt, debt 11,000,000 Tn circu- Other Govt. lation 843,200,000 securities 806,100,000 *£880,000,000 200,000 000'000'088 3' £880,200,000 ’Amount of fiduciary issue. Bunking Department. £ £. Capital 14,500,000 Govt, secu- , Best 3,100,000 rities 148,400,000 Deposits: Dlscts., adPublic 5,800,000 vauees 3,400,000 Bankers 138,200,000 OthersecuOtheraes 50,200,000 Titles 21,700,000 Notes and „ _ „ coin 38,300,000 £21)1,800,000 £21)1,800,000 Proportion of reserve to liabilities, 19.72 per cent., compared with 22.07 per cent. principal items of -the above return compare as follows with those of last week: ~ .Sept. 30. Oct. 7. - 10,300,000 5,84X1,000 Bankers 135,700,000 133,200,000 Other accounts . 51,500,000 30,200,000 £197,500,000 £104,200,000 Securities’ —- “4 Government ... 140,000,000 148,400,000 Dlscts., advances 2,300,000 Other securities . 28,700,000 Reserve 43,600,000 38,300,000 Note circulation .. 838,000,000 S43,200,000 Gold coin & bullion 200.000 200,000

those of October 1: — 1’rice. Variation £ s. d. £ s. d. Consols, 2i p.c 82 10 0 same Fund. Loan, 1960-4)0 [UT4 10 0 same War Loan, 31, 1952 . 100 £> 0 0 1 3t Conv. .Loan, 3$, '1961. . 10/ 5 0 0 2 6f Victory Bond's, 4 p.c. H14 1'3 9 0 13* C’wealth, 4, 1045-75 . lot 1 3 0 13* C’wealth, 4, <1043-49 . 09 0 0 0 1 3* C’wealth, 3.J, 1048-53 . U, 0 0 0 2 6* C’wealth, 3A, >1956-61 . KS 0 0 0 2 6* C’wealth, 3, 1035-58 . 85 0 0 0 13* N.S.W.. 34, 1030-50 .. 93 J 6 same Victoria, 3, 11929-40 .. <X> 10 0 same Victoria, 5, 1045-75 .. 1O1 0 0 same Q’Jand, 3, 1004-47 .. . 93 0 0 • same S. Aust., 3, 1010 (opt.) 72 0 0 10 Ot S. Aust., 5. 1945-57 . 101 0 0 same W. Aust., 4, 1042-02 . 98 2 (> 0 2 6t, Tasm., 4, 4942-62 . . 98 0 0 0 3 0* N.Z., 4J, 1048-55 ... 101 10 0 0 5 0* N.Z., 3, 1045 96 17 6 0 2 Gt fHigher. ‘Lower.

20 Rail32 shares 1041 (high) . . 30.88 133.50 -- 1041 (low) .. . 24.45 100.27 — 2ft 19 111.34 440,000 . 28.80 111.03 780,000 Oct. 0 . 28.85 111.53 701,000 Oct. 7 . 28.41 111.8(5 657,000 Oct. 8 . 28.05 113.60 1,002,000

sec’s. rails. trials. mines. 1941 (high) X’14.6 54.3 105.9 . 1S3.3 1941 (low) . 112.0 41.5 83.0 100.4 Oct. 114.1 61.9 110.7 150.1 Oct. i> 114.1 62.0 110.9 150.9 Oct. 7 1'14.1 62.0 111.1 152.0 Oct. 9 114.1 61.6 111.0 151.3