FINANCE & COMMERCE

Dominion, Volume 37, Issue 233, 29 June 1944, Page 6

FINANCE & COMMERCE

WELLINGTON EXCHANGE

Yesterday’s Quotations

'Die latest buying and selling quotations recorded yesterday on the Meliiugtou Stock Exchange were as follows:— Buyers. Sellers.

Sales In New Zealand Dealings in stocks and shares recorded on New Zealand Stock Exchanges yesterday were as follows, the number of shares in’each lot being shown in the case, of Wellington

Inset. Stock, 2J per cent., IWI 7 . 2/6 (2): ditto, 2L per cent., l/10/a3, £»•>, ditto, 3 per cent., 15/9/46-48 £lOO/12/0 j ditto, 3 per cent., 15/9/52-55, £D9/o/- (-), <litto 3 per cent., 15/4/60-63, £9B/2/0; ditto, 4 per cent., 15/4/46-49, £lO2/5/- (2): ',Vool Bonds, 1/2/48, £l/0/4; Bank of N.Z., £2/5/-: Bank of Australasia, £J 12/-; N.Z. Insurance, £4/9/-; Auckland Gas, 8/- (2); Booth aiacdonald, pref., 10/10; Colonial Sugar, £57/15/- (2): Wilson’s Cement, £1; Woolworths (Syd.), £1 0/9; Loloma, £l/1/6. Unofficial list: Auckland Farmers’ Freezing, £l/5/6; w. K. Cooke, 7/-. CHRISTCHURCH. Inscr. Stock, 3 per cent., 15/4/60-63, £97 15/-; Com. Bank of Aust., 18/9; Canterbury Koller Flour, 17/6; Macduffs, Ltd., 17/9: British Tobacco, £2/11/-; Woolworths (NZ.), 19/9; Associated Geld Dredges, 5/6. DUNEDIN. Inscr. Stock, 3 per cent., 15/12/53-56, £99 7/6; N.Z. Refrig., 10/- paid, 14/-. Unofficial list: A. and T. Inglie, 17/6, London Stock Exchange (By Telegraph.—Press Assn.—Copyright.)

LONDON, June S 7. On the Stock Exchange quotations of bank shares and other corporation debentures and stocks compared with previous

Walker & Hall Profit The'accounts of Walker and Hall (N-Z-k Limited, for the year ended April show a net profit of £O4-1. compared with £2354 In the previous year and £lB9l in 1942. With the balance brought forward, £3070. plus profit on sale of war loan. £556, there is £4570 available. A dividend of 4 per cent, (last year 5 per cent.) is recommended. This requires £I2SO, leaving £3290 to be carried forward. Gross profits have dropped from £I7,OSS for the previous year to £4569. Assoc. Gold Di'edges (N.Z.), Ltd. The accounts of Associated Gold Dredges (N. 7.. Ltd., for the year ended March 31. show a net profit of &28.G59, compared with £23.153 the previous year. The gross bullion yield from 9912 ounces was £9:1.841, which after payment of war tax mid export duty on gold, loft, a net return of £82,414, against £66,860 the previous rear. The company operates the Marsden. Rod Jacks and Atarau dredges, which dredged during the year 914 acres, treating a total of 3,987,783 cubic yards. Gold recovered per cubic yard was valued at 4,9<k1„ against 4.-WW. the previous year, and working costs were 3.231 U. and 3.203(1. respectively. Gold Mining The Slab Hut. return last week was 66 ounces for 121 hours from 23.000 yarns. Morris, Hedstrom, Ltd. “The investment of so large a sum as £468,446 in Government and municipal stocks at low rates of interest cannot be considered very profitable employment, oi shareholders’ funds,” states Sir Maynard , Hedstrom, chairman of directors of Morris Hedstrom. Ltd., in his address to be given to shareholders at the annual meeting In Suva on June 30. “The present possibilities of expansion in Fiji. Samoa and Tonga are limited.” He added that It seemed unlikely that substantial progress coni.l be made toward finding a more profitable outlet for surplus funds till after the war. In flip opinion of directors, profits realizable in the current year would be on a smaller scale, as there would be less money in circulation and owing to continued extension of Government controls gross profit rates on the sale of goods were lower in 1943-44 than in previous years and were likely to be smaller. Sir Maynard commented on the two test cases decided in the Supreme Court in Fiji affecting the rights of preference shareholders. Ho mentioned that the price or the company’s ordinary shares on the Australian Stock Exchange was 23/-. On the “free” market in New Zealand , the shares were quoted at 38/- (now 43/-). For shareholders domiciled in Australia who might wish to sell, the position was unfortunate, but there was no obvious -remedy.

£ s. d. £ a. d. 24 p.c., 1/8/46 99 12 6 — 2} p.c., 15/9/47 W 0 0 — 24 p.c., 15/5/48 98 7 6 21 p.c., 15/6/47-49 .... 97 15 0 IH 15 0 — 3 p.c., 15/7/1915 100 7 6 3 p.c., 1/8/51-54 —— ul) 12 0 3 p.c., 15/9/52-55 .... — 99 10 0 3 P.C., 15/4/69-63 .... 98 5 0 3$ p.c., 15/1/56-59 .... 34 p.c., 15/1/53-57 .... —• 102 7 6 —— 104 2 0 1 p.c., 30/11/1948 103 5 0 — 4 p.c., 15/5/49-52 ... . 103 17 6 *—* ■1 p.c., 15/6/52-55 .... 105 0 O 4 p.c., 31/5/54-58 .... 106 10 0 —— Nat. Batik of N.Z —• x2 13 0 Hank N'.S.W 37 0 0 — . 2 4 6 Ditto, “D” Mort. .. 1 13 9 —— Union Hunk —— cS 12 0 Goldsbrough Mort .. —— 1 12 0 Loan & Mercantile .. 10 0 0 — W.F.C.A., pref 0 9 6 Wgtn. lav. T. & A. .. 0 8 0 Wgtn. T. * l.oan .... x3 16 0 — Wright, Stephenson, pref N.Z. Invest. Mort. .... 1 5 0 • y 10 s — Wellington Gas, ord. . 1 14 3 —— Feildlng Gas 0 19 New Zealand Ins. ... —— 4 10 0 South British Ins. ... •— 4 10 Gear Meat 1 5 3 —— N.Z. Ret'rig., £1 Ditto, 10/- ........ 18 0 — 0 14 1 Wgtn. Meat Export . 0 13 4 •— Huddart Parker .... , 3 3 6 I*, and O 2 4 9 Westport-Stockton .'060 Renown Collieries .. . 0 9 6 Bonds Hosiery 2 4 6 Pelt & Textiles 2 12 6 5Ianavvatu Knitting . x2 1 6 Prestige, pref 16 6 — Wellington Woollen .. 9 7 6 Ditto, pref Rotoiti Timber 9 10 0 0 8 0 Taupo-Totara ...... — 0 9 8 Ditto, pref 0 10 9 •— Tooth and Co. ....... 2 18 o British Tobacco .... x2 11 3 Broken Hill ........ . 2 4 9 —* Burns, Philp , 3 13 — Consol. Brick 0 10 0 0 10 6 Cant. Roller Flour —— 0 18 0 D.l.C 1 0 3 — Dunlop Rubber , 1 4 3 w Electro Zinc, pref. . , 2 18 3 Frozen Products .... 0 13 9 —>• Griffin & Sons, £1 .. 1 11 9 ••r Ditto, 10/ 0 15 9 — General Indust 1 3 10 I.C.I., pref 17 0 «—• ■ J. J. Niven — 110 Macduffs, ord 0 17 8 0 17 9 Ditto, pref 1 6 0 McKenzies x2 19 9 Metters (N.Z.' 0 17 8 •— N.Z. Forest Prod, ». — 0 7 3 Ditto, pref 0 11 0 National Electric .... 1 13 0 1 15 0 N.Z. Drug 4 IS 0 — N.Z. Farm. Fert 14 9 N.Z. Newspapers 2 2 6 N.Z. Paper Mills .... 2 0 0 ••• Sharland & Co,, ord. . 1 10 6 Ditto, pref 1 11 0 -w* Taranaki Oil 0 3 0 Taranaki Develop. ... 0 10 Wilson's Cement 1 0 5 Wcolwortlis, Ltd. ... 10 6 •— Woolworths (N.Z.) .. X0 19 4 Ditto, Prop Xl 10 6 Mt. Lyell 1 12 0 •f— Emperor .Mines — 0 11 0 New Occidental 0 15 0 Woolworths Hold. (S. Africa) 1 11 6 c, cum. dividend. x, ex dividend.

WELLINGTON. No o£ Sale Price. shares. £ 8. a. £.750 laser, Stock, 2i p.c., h>/8 47-40 97 17 6 £350 Ditto, 3 p.c.. 15/9/46-48 ... 100 10 0 £200 Ditto, 3 p.c., 1/8/51-M,... 99 10 0 £1500 Ditto. 3 p.c., 15/9/52-ao .. 99. 5 0 £3100 Ditto. 3 p.c., 15/12/53-56 . •98 7 6 £450 Ditto, 4 p.C„ 15/4/40-49 ., 102 5 0 6 2 11 0 200 Canterbury Roller Flour . 0 17 6 0 10 3 0 17 1) 200 Woolworths (Syd.) 1 0 9 •Late sale Tuesday. AUCKLAND.

quotations as follows: — June 13. June 27. Banks— c fl. 1 £ sd. Australasia •7 7 6 E.S. and A .> 14 6 3 14 6 Union of Aust 0 .» 0 6 9 N.S.W •4-) 15 0 •V* 15 0 National of N.Z. .. 1 19 3 1 19 G New Zealand 1 12 c 1 n 9 Others— British Tobacco ... 1 15 0 1 15 0 Goldsbrough, NIort . 1 G ■1 9 1 3 9 Dalgety 0 0 G 0 0 P. and 0., def. 1 19 4J 1 19 4i N.Z. Loan and Merc. 4 n.c.. deb. .... "94 10 0 9-1 0 0 N.Z. Loan and Merc., ord 43 0 0 41 10 0