FINANCE & COMMERCE

Dominion, Volume 37, Issue 13, 11 October 1943, Page 6

FINANCE & COMMERCE

BANK OF ENGLAND

Fiduciary Issue Increased LONDON, October 7. The Bank of England return for the week ended October 6 is a<s follows.—-

Government Stock Prices (Bv Telegraph.—Press Assn.—Copyright.), (isy ii. t LONDON, October 7. Government stocks are quietly steady.. The following table gives the mean Stock. Exchange quotations for consols and colonial inscribed stocks, compared with thosU

Australian Gypsum, Ltd. The serious decline in profit was due to prohibition of civil building, said the chairman of Australian Gypsum, Ltd., Mr. Raymont Moore, at the annual meeting. When the industry revived, shareholders could look-for a fair reward. Apart from activities in plaster and allied products, the parent company expected a development in the 'output of salt from its leases in South Australia; and progress was being made in the insulation field with its product, Insulwool. 1 David Jones, Ltd. Profit Net profit ot £159,020 shown by David Jones, Ltd., for the year ended July 31. is an increase of £10,558. Depreciation charge of £50,086 is £6044 less than-last year. Ordinary dividend, which was reduced to S per cent, last year, is restored to 10 per cent., requiring £Bl,OOO. lhe 6 per . cent, first preference dividend amounts to £9OOO and 7i per cent, second preference to £18,750. Carry forward is increased to £145,802 from. £95,532. Milbum Lime Year A net profit of £6621, compared with £8599 last year and £15,405 in 1941, is shown in the accounts of the Milburn Lime and Cement Co., Ltd., Dunedin, for the rear ended July 31. A hnal dividend of oj per cent., absorbing £5OOO, is recommended, making 5 per cent, for the year, unchanged. This will leave a carry-for-ward of £lB3, against £562 brought in. The sum of £3OOO was transferred from reserve, leaving it £22,000. Emperor Capital Return Shareholders of Emperor Mines, Limited (Fiji) will be asked to consider a proposal to reduce the capital of the company from £1 000 000, divided mto 2,000,000 shares of 10/- each,’to £850,000, in 2,000,000 shares of 8/6 each, by returning to holders of 1.050,000 issued shares 1/6 a share, ine directors state that the company has capital in excess of its needs. In normal times the company might be able to use this capital to advantage, but with the present restricted field of investments, the diree tors believe that shareholders wou.d prefer to have it repaid. v Sydney Share Prices Share revisions on the Sydney Stock Exchange include the followingHunto Pipe, minimum 14/9, maximum 16/9, ceiling 20/-; Woolwortlis (Western Australia), 47/5, 59/6. 59/6: Barrytown, 12/-, 14/-, 20/-; Bulolo, 70/9, 77/3, 90/-j Kameri, ord., 18/- 20/-, 22/6: ditto, def., 10/C, la/-, 19/-- Loloma, 20/-, 23/-, 25/6; Ngahcre, ord,' 8/-, 9/-, 20/-; ditto, del'., 4/-, o/-, 5/"- ; Hume Pipe Co The financial position of ,the Hume Pipe Co. (Aust.), Ltd., was satisfactory, the chairman, Senator A. J. McLachlan, said at the annual meeting in Melbourne. This was largely due to the restricted operations of the company. When normal conditions returned he believed that the public authorities would require the company a products in increasing .quantities. Wellington Poultry Prices Prices of live poultry in the WelJngton markets are quoted by Townsend and Paul. Ltd., as follows:— . . White Leghorns: Hens, best 5/6 to 7/6' each, others 4/- to 5/6 each; cockerels, 1/8 to 4/9 lb. live weight; PJi'lets. best 1-/-to 14/- each, others 8/- t 0 J;/’ ® a 1 c A' a h ' Orpingtons: Hens, heavy S/- to K/-.eaci. light 6/- to 8/- each; cockerels, heat? 1/8 tJ l/91b. live weight light 1/8 to L 5 lb. Rhode Island Reds: Cockerels. 1/8 to 1/9 lb., live weight. 'Spring chickens. 1/- to 4/- each. .., Ducks: Indian Runner, young 7/- to IVeach old 4/- to 7/- each; white, young 8/to 12/- each, old 7/- tq S/- each. Leese. 6/- to 9/- each. Turkeys, 1/8. to 1/11 H>. 11T Dressed poultry: Boilers heavy 5 ?- ta 7/r each* liffht, 4/- to each, chickens ’ 1/8 to lA> 6/- to 8/- each: geese, 6/- to 7/- eacn. turkeys, 1/8 to 1/10 lb. Gold Mining The Maori Gold dredge returned SSoz. 7dwt. for 95 hours from 10,000 yards. Stock And Share Indices

Dow Jones Averages NEW YORK, October 9. Dow Jones «verageMl92J equals IM) roads. Industrials, sold.

Dividends And Calls

Note issue: Govt, debt 11,000,000 lu circu- Other Govt. lation (01,200,000 securities 1,035,200,000 In bank- Other secs. in*' dent. .>9.0110.000 *£ 1.050,000, OW Gold coin 200,000 £1,050,200,000 £1,050,200,000 ♦Amount of fiduciary issue, which has been increased by 50,000,000 this week. Capital 14,500,000 Govt. sec. 152,200,0®) Best 3,100,000 Discts., adDeposits: vanees 1,900,000 Public 7.800.000 Other secs. . 16,200,000 Bankers 150.200,000 Notes and Other acc. 55,300,000 coin 60,600,000 £230,900,000 £230,900.0®) Proportion of reserve to liabilities, Lo.-to •ner cent., compared with 0.48 per cenu last week. The principal items orno above return compare as follows with those of last week:— Sept. 29. Oct. 6. De public — 9,300,000 7,800,000 Bankers 173,400,1X10 150.2WJ.000 Other accounts , 55,200,000 u5,oU0,000 £237,900,000 £ 213,300,000 Securities— ~ A A _ A Government . - <00,000 152,200,000 Discts., advances 1,900,000 1,900,000 Other securities . 29,000,000 16,200,000 ■Reserve* lu,400,000 60,600,000Note circulation 986,400,000 991,200,000

of September 30: — Price JC s. d. Variation £ s. d. Consols, 24 p.c. .... Fund. Loan, 1940-00 . War Loan, 34. 1952 . 79 7 113 3 104 12 6 9 6 same 0'1 St 0 13* Conv. Loan, 34, 1961 . Victory Bonds, 4 p.c. 104 15 113 1 0 3 O 2 6i same C’wealth, 4, 1945-75 .. 102 3 9 same C’wealth. 4. 19-13-50 .. 100 7 6 0 2 6t C’wealth, 3$,. 1948-53 . 100 IS 9 O 3 9» C’wealth, 3|, 1956-61 . 96 10 0 0 2 6* C’wealth. 3, 1956-58 .. 93 16 o O 3 9t N S.W.. 31 1930-50 ..100 O 0 Victoria. 3, 1929-49 ... 97 10 0 0 5 Of Victoria, 5, 1945-75 .. 101 17 6 same Q’land, 3. 1942-47 .... S. Aust., 3, 1916 (opt.) 98 15 S3 5 0 0 0 7 6t 0 5 Ot S. Aust., 5, 1945-57 . 101 17 6 0 2 6" W. Aust., 4, 1942-62 .. 101 0 0 0 5 Ot Tasm., 4, 1942-62 .... 101 0 O same N.Z., 41, 1948-55 .... 103 13 9 0 16 3* N.Z.. 3. 1945 99 18 9 0 13* ♦Lower. fHigber., xjfx interest.

(By Tdegraph.-Pre-—Copyright.) October 9. Govt. Home Goldrails. trials mines. 1912 19-1'2 Oct. Oct. Oct. Oct. (high) . (low) . 4 i> • • • • (> • • * • li'i.-t” 113.1 112.7 112.7 I12.fi 112.5 Gt.G 54.1 GG.l 65.1 GG.2 66.4 118.0 96.9 180.2 130.6 130.7 130.6 158.1 128.1 165.4 165.3 165.5 165.6 Oct’ Oct. 8 112.6 112.6 66.4 1 66.4 130.6 130.3 165.5 165.8

1912 1942 (high) .... (low) o 29.28 23.31 35.12 113.71 92.92 140.27 272,000 Oct. Oct. Oct. 35.00 139.63 497,000 4 34.37 139.27 490,000 35.48 137.84 710,000 Oct. G 34.35 136.38 854,000 Oct. 9 34.S4 437.10 226,000

Hay*. Ltd.—71 p.c., ord Woolworths (Syd.)—iut., 5 p.c.. Oct. 13 Oct. 1& Wool worths (N.Z.) — half-year pref.. 41 p.c 1 Oct. 15 Wool worths (Vic.) —int. hl p.c., Konmta Reefs—Gd. a share Oct. Oct. 15 IS Oamaru Woollen—final, 3 p.c. .... Oct. ->«< Rotpiti Timber—£0/8/- p.c. pref., Oat. 20 Howard Smith—int.. 2 p.c South British Ins.—filial 1/- a Oct. Oct. Guarantee Corp.—lid, a share .. Oct. South Otago Freezing—ord., 5 p.c. Renown Collieries—7 p.c. pref., Sei. Oc t. 29 Oct. Wm. Cable— int. pref., 3} p.c. ■■ Nov. 1 I.C.T.—int., 3 p.c. Dec. Nov. 1 Electro Zinc—final,’ pref, and ord.. Dec. 31