FINANCE & COMMERCE

Dominion, Volume 36, Issue 34, 4 November 1942, Page 8

FINANCE & COMMERCE

Stock Exchange Sales Dealings in slocks and shares recorded on New Zealand Stock Exchanges yesterday were as follows, the number of shares in’each lot being shown in the case ot Wellington:— WELLINGTON. No. of shares. " “• “• 150 N.Z. Breweries lj " 300 National Electric J 4 0 . AUCKLAND. E.S. and A. Bank, £3/13/6: Ifarmers’ Auct. (B pref.), £l/2/9; United bulldin,,, 10/6; Auck. Gas (eon.), 3/-; Kauri Timber, £l/3/3; Con. Brick. 7/0; Farmers leading, £l/1/0; ditto (B pref.), £l/3/6. Unofficial list: National lobaceo. £1 11/-; Farmers’ Trading (C pref.), AU. CHRISTCHURCH. National Bank of Australasia (£5 paid, cum div.), £5/10/-; ‘’'‘"'“lV. A'i.* div.), 18/0; .Mount Lyell 3-1/8/- sales reported: 4 p.e. laser, block, 1943-16, £IOO 15/-; Christchurch Gas, £l/2/10; National Electric, £l/4/6. DUNEDIN. N.Z. Refrigerating (cont.) 10/3; Bank of NZ 40/-. Unofficial list: National 'lobaceo, 30/-. Sydney Stock Exchange (By Telegraph.—Prose Assn. —Copyright.) SYDNEY. November 3. ■ln quiet trading on the Stock Exchange today firm prices were offered for all typre of investment stocks, bales: Bank of New South Wales, £27/10/-: Commercial Banking Svdnev £.17/12/-; Bunts. Philp, e.\ div' 52/6; Australian Consolidated Industries 43/-; Farmers, 23/6; Woolworths, 14/-;’ Tooth’s. 51/6; Pitt., Son, Badgery, 41/3; Associated News, 10/3; Wilcox, Mofflln, 10/-;. Oil .Search, 2/o; New Guinea Gold, 1/2; New Occidental, 8/8. Waihi Investments, Ltd. Dominion Special Service. AUCKLAND, November 3. .Special cabled advice has been received from London by J. 11. Q. Banks local at torney that at the annual meeting of Waihi Investments and Exploration, Ltd., on November 26. the directors will recommend a dividend of 2* per cent, leas hnglisli Income tax at 8/5.493 in the which is the full standard rate of British ineome tax at 10/- in the £, less estimated H-lkf in respect of. Dominion income tax at 1/6.507. The dividend will be payable in November. Accounts show that for the year ended September 30, profile were £5145,- amount brought forward- "as £'B_, and balance of £2050 will be carried forward, against £482 brought in a yea ago, when the dividend recommended was 4 per cent, less British income tax at 9/35.’ in the £. The profit compares with £.1.184 last year, and £9085 in 1940. The company’s income was formerly derived chiefly from Subsidiary Puket Tin Dredging, Ltd , Thailand, whose property has been occupied by the Japanese, and from investments. There is also interest tn a Atetorian gold dredging venture. Gold Mining The Slab Hut Creek Gold Dredging Co., Ltd., returns for t J> c week _ending October 31, were 4Goz. from Ib.oOO y.ircis Jn 101 hours* • ■ • . , ' .. c r\ n Alexander -Mines. Limited report for October that in the battery department 140 tons of ore were crushed, for a return of 87oz. 13dwt. of melted gold, and in cyanide department, 150 tons of -san.is were treated for a return of 440 z. 13dwt. ofbut Hon. The total estimated value was £lO4l. in addition concentrates were saved amounting to 2J tons, and valued at £6O. N.Z. Exchange Rates Telegraphic rates of exchange, New Zealand on the overseas" centres mentioned, are quoted by the Bank of New boutu

Australian Dividends Dividends from Australian companies received by New Zeslmid shareholders are subject to taxation according to the provisions of the Commonwealth Income lax Act, 1912. If the shareholder is a company, the tax is «/• in the pound, with no exemption. In the case of an individual no income tax is payable if the income derived from Australia does not exceed £156.- If the income exceeds'that, amount, Income tax is payable-on the total income without any exemption. ,The rate of tax commences at Wd. and increases to 10/4.7019 at £2100; for every lOd. and increases to £2loo' the tax is 18/- in tile pound. If the taxable income is only slightly above £156, the Act provides that the tax shall not exceed • half of the amount in excess of £l's6.

Wales as follows Buying. Selling. New York, <loL to £N’.Z. 3-2542 3.2050 Montreal, del. to £N.A. 3.<>0w» India, pence to rupee 3.3200 ooa Ceylon, pence to rupee .. --3-10 London. £N.Z. to Lbtg.100 1-4 o-8 “—I 125 Aust. £N.Z. to £100A. 100J 100 FIJI. £N.Z. to £100F. .. »0 88 5-8 S. Africa. £N.Z. to £8.A.100 1-3 125 1-8