FINANCE & COMMERCE

Dominion, Volume 37, Issue 194, 15 May 1944, Page 6

FINANCE & COMMERCE

Bank Of England Return

LONDON, May IL The Bank of England return for the week ended May 10 is as follows:— £ £ Govt, debt 11,000,600

Gold Mining Associated Gold Dredges last week teturned 120 oz. for 340$ hours from 71,Wx) ya The Snowy Biver return last week was 158 ounces for 250. hours from to,ooo yards. Colonial Sugar Co. reholders of Asbestos Products, Li“ Sydney, will be asked to ratify an agreement for the sale of the connpuny's undertaking to the Colonial Sugar Refining Company, Limited, says the Sydney “Morning Herald.” The agreement provides for the purchase of assets and the discharge of the Babilities. Tangible assets at June 30 last exceeded. liabilities bv £lB9O. The consideration is £lo,loo for the goodwill, land, buildings, fixtures, leases, book debts, trade-marks and other assets not transferable, and £33,0-o for plant, machinery, fittings, stock and other assets transferable. These amounts are payable as to £7500 in cash and the balance to satisfying liabilities at the date of completion. The Colonial Sugar Company proposes to register a new company with a similar name to operate the undertaking. Bank Of Australasia Although gross earnings of the Bank of Australasia tor the year ended October It fell by £46,015 at £1,487,022, a larger fall in expenses enabled an increase of £26,-" 587 in net profit to be shown. Expenses decreased by £72,002 at £1,271,864. Chargee in Australia and New Zealand were £649,481, against £714,572 for 1941-42. Net profit, as reported by cable in February, is £215,157. This is £20,907 more than the amount of £194,250 required for the unchanged dividend of 6 per cent, less U.K. income tax, and the carry-forward is increased to £233,265. Dow Jones Averages (Bv Telegraph,—Press Assn.—Copyright.) V y NEW YORK, May 13.

Stock And Share Indices (By Telegraph.—Press Assn. —Copyright.) LONDON, May 13. “Ifinancial Times” indices (1928 equals

General Industries; Ltd. The trading subsidiaries of General Industries Ltd.—Metters Ltd. and Metters KFB Pty., Ltd.—show a profit of £87,555 for the year .to December* 31, compared with £97,1)89 for 1942. Of the profit the parent company receives £84.926 as dividend. With its own profit at £933, its total profit for the year to February 29 is £85,859, against £86,384 for 1942. Ordinary dividend, steady at 10 per cent., requires £63,717, and preference dividend of 7 per cent, absorbs £20,851. Carry forward is increased to £15,913 from £14,622. From the preference dividend a deduction of 1.72 d. a share will be made, this being the proportionate amount of wartime (company) tax applicable to preference shares. Dunlop Rubber Expansion The Dunlop Rubber Company is to enter more fully into clothing manufacture, and on March 29 filed notice of intention to register a £75 fc ooo company called Dunlop Weatherproofs Australia Pty., Ltd., manufacturers of and dealers in clothing, states “Jolsoii’s Digest.” Consent of the Federal Treasury has been obtained for the issue of 75.(100 £1 shares. ' So far the company has been making only rubberized waterproof garments, such *as overcoats, capes, : jackets, etc. The new subsidiary will make chemically treated weatherproof cloths of the type similar to Burberry coats. In the past Australia has mostly depended on imports for lines such as these. A factory at Wagga, which has been used by the Government for other purposes, i« being taken over and about 200 people will be employed.

Note issue— Other Govt. In clreu- sec. 1,138.100.000 latlon 1,129.200.000 Other see. 900,000 In bank- *£1,150,000,000 ing dept. 21,000,000 Gold coin 200,000 £ 1,150,200,000 £ 1,150,200,000 * Amount of fiduciary issue. £ £ Capital 14,500.000 Govt. sec. 208.000.000 Host 3,200,000 Discts.. adDeposits— vatices 5,700,000 Public 12,200,000 Other secs. 10,000,000 Banks’ 100,100.000 Notes and Other acts. 55,200,000 coin 21,o00,009 £251,200,000’ £251,200,000 Proportion of reserve to liabilities, 0.20 per cent., compared with 10.85 per cent, last week. The principal items of the above returns compare as follows with those of last week:- jj ay 10> D< Public'~ ... 7,801X000 12,200,000 Bankers 158.600,000 160,100,000 Other accounts . 57,700,000 55,200,000 £224,100,000 £233.500,000 ISrZ.“:SS ’■as o" tltle !.: ffiooo SS Note emulation 1,129,.100,000 1,129,200,000 Government Stock Prices LONDON, May 11. Government stocks are rather less active. Prices compared with those of May 4 are as follows:- Varlation £ s. d. £ s. d. Consols ’Inc 79 3 9 same Fund. Loan, 1940-90 . M2 17 6 0 5 0t War Loan, 34, 195a .. 103 3 9 0 — 6i Conv. Loan, 31, 1961 . 104 12 6 same Victory Bonds, 4 p.c. 112 6 o n Sa .? ie <'» C’wealth, 4, 1045-75 .. 103 3 9 0 - 6 C’wealth, 4, 1043-00 .. 101 la 0 0 2 6 C’wealth, 3, 1948-53 .. 103 12 6 0 1 3 C’wealth, 3, 19o6-61 .. 90 10 O 7 b C’wealth, 3, 1956-59 .. 08 la 0 0 13 OT N.S.W., 34, 1930-50 .. 101 7 6 0 5 Of victoria, 3, 1929-49 .. 100 10 0 0 2 6j Victoria, 5, 194o-7o .. 103 0 0 0 - b Q land, .3, 1942-47 .... 100 la O 0 7 bt S. Aust., 3, 1916 (opt.) 8b 0 0 0 5 0t 5 Aust., 5, 1940-47 .. 103 1 3 0 - 2 bi W Aust.. 4, 1042-46 .. 102 0 O same Tasm.. 4, 1942-62 .... 102 10 0 0 10 Of N.Z., 4J, 1948-pa 104 15 0 0 2 b N.Z.. 3. 1945 100 la 9 O 1 3 tHlgher. ‘Lower.

Dow Jones averages (1926 equals 100) s— 20 Railroads. - 32 snares industrials, sold 3 ... 39.10 137.83 626,000 Slay 4 ... 38.88 137.85 513,000 Stay 39.33 138.74 787,000 8 39.02 138.03 . 586,000 May 9 ... 39.05 138.65 620,000 10 ... 39.19 138.76 647,000 May 11 ... 39.00 138.93 618,000 May 12 ... ..... 88.49 138.51 747,000

100). Govt. Home rails. Industrials. .Goldmines. May 2 .... 112.8 69.1 131.0 138.2 .... 112.8 69.1 132.4 158.7 May 4 .... 112.7 60.1 132.5 159.2 May 5 .... 112.7 69.x • 132.4 159.2 May 0 .... 112.7 69.3 . 132.8 158.3 May 10 .... 112.7 69.4 132.8 138.4 May It .... 112.7 69.4 132.9 158.2 May 12 .... 112.7 09.3 132.6 157.9 Dividends And Calls

Mosgiel Woollen—int. -1 p.e May 1G National Ins.—int. 4d. a share.. May 16 May 17 Oamaru Woollen—int. 3 p.c. .... May 17 Auial Wireless—int. 4 p.e May 19 Kanlere—1/- a share May 19 Dalgety’s—int. 2/G (less U.K. tax) May Bank N.S.W. —quarterly 6/- a share (Aust, currency) May 2d Allov Steel (N.Z.)—final 31 p.c.. plus bonus of !/• a share .... May N.Z. Paper. Mills—tinal 4 p.c. ... May Burns Philp, int. 5 p.c, May Electro Zinc, 4 p.c., ord. & pref. 0 May 26 Tooth & Co.—int. 13 p.c. p.a May 29 Donaghys Rope—final 1/3 a share May 29 Union Co.—Int. pref. 2} p.e. May 31 Nat. Bank A’asia—int. 24 p.c May 31 Broken Hill—int. Gd. a share (Aust, currency) May 31 E.S. & A. Bank—int. 2} p.c. (less U.K. tax) May 31 Equitable Building—final 3 p.c. .. May Selfridges (A’asia.)—G p.c May Fletcher Holdings—final pref. & ord., 6 p.c. p.a , June 1 Dental & Medical—5 p.c June 1 Till Brewery—int. 6d. a share .. June 1 Henry Jones Co-op.—int. Gd. a June 1 Dominion Fertilizer, 3 p.e June 7 Kauri Timber—int. 2 p.e J une 1) Bro'ken Hill South—6d. a share .. June 1G Mt. Lyell—-int. Gd. a share June 19 Wilson’s Cement—final 3d. a whare June 21 Bank N.Z.—final, ord. 4 p.c., D Mort., 74 p.c. p.af June 24 McKenzies —final 5 p.c June 30 Swan Brewery-—ord., Gd. a share and bonus of 3d. a chare June LC.I.—final, ord. 5 p.c July 1