FINANCE & COMMERCE

Dominion, Volume 37, Issue 228, 23 June 1944, Page 6

FINANCE & COMMERCE

WELLINGTON EXCHANGE

Yesterday’s Quotations

The latest buying and selling quotations recorded yesterday on the Wellington Stuck Exchange were as follows:—

Nelson Freezing Co. . 4IS 0 —• Rubber Distrib 14 0 — Fletcher Holdings . — 17 4 Wgtn. Publishing Co. 4 7 0 -- N.Z. Woolpacks ...... — 0 4 0 Golden Bay,.Cement Co. 0 W 9 — John Fuller and Son. 4}» p.c., deb., 1/8/49 . 89 10 0 — c, Cum dividend, x Ex dividend.

Sales In New Zealand

Dealings In storks and shares recorded on New Zealand Stock Exchangee yesterday were as follows, the number of shares in each lot being shown in the case or

Inser. Stock. 2) p.c.. 1/10/53. £95; ditto. 3 n.e.. l/S/51-54. £99/10/-: ditto. 3 p.c., 15/ 9/52-55, £99/7/6: National Bank of A/asia, £l2/5/-: Auckland Gas 7/10; Kauri Timber, £l/9/-: Rotoiti Timber. 8/-: N.Z. Breweries, £2/3/-: Broken Hill Pty., £2 4/9: Colonial Sugar. £56/15/-; G. J. Coles, £3/6/-; Sanford, 8/6; Wilson’s Cement. £1 0/4.

CHRISTCHURCH. Inscr. Stock, 3 per cent., 15/9/52-55, £OO 2/6; ditto. 3 per cent., 15/12/53-56, £9B 7/6; Bank of N.Z. (2), £2/5/-; N.Z. Farmers’ Co-op., B pref., £3/12/6: Canterbury Frozen Meat, pref.; £9/5/-; N.Z. Refrig., 10/- paid, 14/-; Union SteAm, pref., £1 11/-; Kauri Timber, £l/8/9; Broken Hill Pty. (2), £2/4/11, (2) £2/5/-; N.Z. Drug Co. (2), £4/19/8; Truth and Sportsman, Ist pref., £l/9/-; Whitcombe and Tombs, £5/18/6; Maori Gold (2), od. DUNEDIN. Inscr. Stock, 2i p.c., 1/10/53, £95; ditto, 4 p.c.. 15/5/49,52, £104; National Mortgage, A £3/6/-; N.Z. Loan and Mercantile, £7O/10/-; N.Z. Refrig.. 10/- paid, (2), 14/-: Broken Hill Pty.. £2/4/10; Woolworths (N.Z.). 19/6: Woolworths (Syd.), 2nd pref., £l/11/-. London Stock Exchange (Bv Telegraph.—Press Assn—Copyright.) LONDON. June 21, On the Stock Exchange today prices for corporation debentures and stocks compared with previous quotations as fol-

Peters Ice Cream Profit The accounts of Peters’ Ice Cream (N.Z.), Limited, for the year ended April 30 show a net profit of £2205, compared with £2380 in the previous year and £lO9O in 1942. Taxation reserve has been Increased from £3lOO to £5200. Depreciation Is written off at £3259, against £3516. With £3045 brought forward, there Is £5230 available. The directors recommend a dividend of 6 per cent, (unchanged), requiring £l5OO, leaving £3750 to be carried forward. The report states that sales have kept up remarkably well considering the restrictions placed on the industry. Swan Brewery Profit The net profit of the Swan Brewery Company for’ the year ended March 31 was £195,870, against £166,346 In the previous year, and is the company’s highest to date. The ordinary dividend for the year Is 30 per cent., Including a 10 per cent, bonus, against 20 per cent, last year. Sulphide Corporation The capital reconstruction scheme of Sulphide Corporation, Limited, will be postponed till the company’s profit-earning capacity can be more accurately determined. thus avoiding from the outset the possibility of arrears of preference dividend. Lack of funds in London was no longer an obstacle to the proposal, said Lord Aldenham. presiding at the annual meeting in London, as funds were now sufficient to repay 10/- on the preference shares without any capital remittances from Australia; the difficulty now was the current reduction in profits and the uncertainty of the future level of profits. Any reconstruction scheme must nclude writing down of ordinary shares by a/- to provide £150.000 toward writing off of £167,060, at which the Central mine now stood. The preference dividend would be cut from 10 per cent. to. say, 6 per cent. Provision for a small bonus In the event or liquidation and the building up of a reserve of a year’s preference dividend seemed necessary.

Mt. Morgan Operations .Mount Morgan, Ltd., reports that for the four weeks ended May 28 there was an estimated working surplus of £-100. In arriving at the working surplus no provision has been made for depreciation, overhead expenses of £l<o9 and preference shore dividend £1231. Capital expenditure for the period amounted to CSUS. Open cut operations were continuous, and ore deliveries to Nos 1 and - mills show an increase over the previous periods. Both mills operated continuously with increased through-put over the previous period. Smelter conditions were normal.

Buyers. £ s. d. Sellers. £ s. d. 2A p.c., 1/8/46 99 12 (J — 21 p.c., 15/9/47 (111 0 0 21 p.c., 15/5/48 98 5 0 — 24 p.c.. 13/6/47-19 .... 97 15 0 3 p.c.. 15/7/1945 100 7 « —— 3 p.c.. 1/8/51-54 3 p.c., 15/9/5’2-55 .... 3 p.c., 15/12/53-56 .... 3 p.c.. 15/4/60-63 ...» 31 p.c., 15/9/57-60 ...; 3| p.c.. 15/1/53-57 .... 99 5 0 99 10 .0 99 12 (i 98 3 0 101 17 6 104 2 0 4 p.c.. 30/11/1948 .... 4 p.c.. 10/4/46-49 .... 103 0 0 102 10 0 4 p.c., 15/6/5’2-55 105 0 0 4 p.c.. 31/5/34-58' .... 10(1 10 0 — Comm Burnt Sydney . Nat;. Bank N.Z 22 0 0 c2 15 0 Bank New Zealand ,, Ditto, D Mort Vnlon Bank Aust. ... X2 4 8 xl 14 6 8 12 0 Nat. Bank A/asla 12 0 0 Goldsbrough Mort xl 10 9 I 12 0 Newton King. pret. N.Z Guarantee .... 1 2 3 0 4 7 Loan and Mercantile . 70 0 0 W.F.C.A. pref 0 9 6 •• Wn. Inv. T. & A 0 8 0 Wn. T. and Loan ... Wright. Stephenson. c3 18 0 pref 1 6 0 N.Z. Invest. Mort. .. 0 10 6 Christchurch Gas .... 1 6 0 «■» Wellington Gas. ord. . 1 14 3 V*. Ditto, pref 1 5 3 Feilding Gas 0 19 ■■■ Gear Meat Cl 5 6 N.Z Refrig.. £1 Ditto, 10/1 8 fl 014 3 Wgtn. Meat Exp 0 13 4 ■w. Huddart. Parker .... 3 3 6 2 4 9 Renown Collieries 0 9 6 Bonds Hosiery 2 4 6 Felt and Textiles .... 2 12 6 Manawatu Knitting . 2 1 fl Prestige pref ...... Wellington Woollen 16 6 pref 9 10 0 Tanpo-Totara 0 8 6 0 9 3 Ditto, nref 0 10 0 N.Z. Breweries 2 2 10 Tooth and Co. .«•••• 2 18‘ 3 British Tobacco x2 11 3 Broken Hill 2 4 8 Burns, Philp 3 18 0 io 6 D.I.C 1 0 8 Dunlop Rubber .... 14 0 —• Electro. Zinc. ord. .. 2 17 0 Ditto pref 2 18 0 Frozen Products G. J. Coles 0 13 9 3 ~6 9 Griffin nnd Sons, £1 1 11 9 Ditto. 10/0 15 9 General Indust 1 3 10 T.C.I.. pref J. J. Niven 17 0 1 ” 0 Macduffs. ord 0 17 4 Ditto, pret 1 fl 0 McKenzies 2 19 3 Metters (N.Z.) N.Z. Forest Products Ditto, prof 0 17 fl 0 "? 8 0 11 0 National Electric ... 1 13 O 1 15 0 N.Z Drug 4 17 6 —• N.Z. Newspapers ... 2 2 3 N.Z. Paper Mills .... 2 0 0 Shnrland. ord 1 10 6 Ditto, pref 1 11 0 Selfrfdges (Aust.) .. 1 fl 0 Silknit (N.Z.) Taranaki Oilfields .. Ditto. Development Wilsons Cement .... 14 6 16 0 0 8 0 0 10 xl 0 8 Woolworths. Ltd. 10 3 Woolworths, (N.Z.) Ditto, Pron xO 10 3 xl 10 6 Wgtn. Alluvlals .... Woolworths Holdings 0 2 6 (South Africa) ... 19 6 UNOFFICIAL LIST.

Wellington. WELLINGTON. No. of Sale i price. shares £ s. a. £380 Inser. Stock, 2} p.e., 1/10/ 95 0 0 £400 Ditto. 3 P-c., 1/8/51-54 .. 00 10 0 £1400 Ditto. 3 p.C.. 15/9/52-55 . 00 7 6 £853 Ditto, 3 p.c„ 15/12/53-58 (2) ♦98 10 0 £600 Ditto •98 7 6 £900 Ditto . 98 7 0 £000 inser: Stock, 3 p.e., 15/4/ 60-G3 •OS 0 £5500 Ditto. 4 p.e., 15/4/49-52 *104 2 6 50 N.Z. Breweries 2 3 0 200 Tnuno-Totnra Timber . 0 9 0 100 Woolworths (Syd.) ♦1 0 4 500 Ditto 1 0 4 •Late sale Wednesday, ' AUCKLAND.

lows: — June 6. June 21. £ s. d. £ s. d. Dalgety & Co., 4 p.c. 99 0 0 98 10 0 Dalgety & Co., shares 0 0 0 6 0 0 British Tobacco .... 1 15 0 1 15 0 Goldsbrough Mort. .. i 3 9 1 3 9 P. and Q.. def 2 0 0 1 19 0