FINANCE & COMMERCE

Dominion, Volume 37, Issue 236, 3 July 1944, Page 6

FINANCE & COMMERCE

Bank Of England Return (By Telegraph.—Press Assn.—Copyright.) LONDON, June 29. The Bank of England return, for the week elided June 28 is as follows:—

I-lume Steel, Ltd. Directors of Hume Steel, Ltd., in an Interim report, state that business has been well maintained, but increasing difficulties have been experienced in relation to manpower. transport, and increased cost of production generally. They, however, anticipate a trading profit for the current year which should be considered satisfactory in the circumstances. Gold Mining Blackwater Mines, Ltd., report for the four weeks ended June IG:—Crushed, 2434 tons, yielding 1105 ounces of tfOld from all sources, which (taking gold at £B/8/- a line ounce) was valued at £9252; working expenses, not including ordinary or war duty, £7049: development expenditure, £550; capital expenditure. £315., During the above period No. 15 level drive north was advanced 46 feet, of -which 41 feet were in faulted country rock, and the remain Ing five feet, on reef averaging 10.79 dwts. over 20 inches. No. 15 level drive south was advanced 60 feet, all on reef averaging 12.0$dwts. over 30 inches. No. 15 level intermediate drive from rise 1875 north, was advanced 33 feet, all on reef averaging 18.4Sdwts. over 2.9 inches. Dow Jones A\ 7 erages (Bv Telegraph.—Press Assn.—Copyright.) NEW YORK. July 1.

Swan, Hunter Profit The profit of Swan. Hunter and Wighiun Ricliurdson, Limited, Wallsend-on-Tyne, for 1943. including interest, after providing for taxation, amounted to £348.87.9, compared with £359.716 for the previous 12 months, and adding miscellaneous receipts there was a total of £429,615 (£446,014). After paying directors’ fees and airraid precautions expenditure written off. the sum of £51.599 (£46.146) has been written off for depreciation, leaving a net profit of £368.744. to which is added £37,65S (£33.137) brought, in, making £406,402 (£431.155). The dividend on the ordinary stock for tlie year has been raised from 10 per cent, to 12 per cent., while £25.000 (£50,090) has boon added to the staff pension fund and £SO.OOO (£.125,000) to tlm reserve account, leaving to be carried forward C 48.654. The balance-sheet totals at £G.505.655 (£6.764,716). The report stales that tlie company’s works and those of its associates have been employed to full capacity. N.Z. Exchange Rates Telegraphic rates ot exchange on overseas centres, as supplied by the Bank of New South Wales, are as follows:— On Buying. Seiling. New York. del. to £N.Z. .3.2542 3.2050 Montreal, do], to £N.Z. ~ 3.0039 3.5290 India, peace to rupee .... 223-1(5 22 11-10 Ceylon, pence to rupee .. 22 3-16 22 11-16 London, L N.Z. to LlOOstg. 124 3-8 125 Aust., SN.Z. to .£IOOA .. 100 J 100 Fiji, SN.Z. to £IOOF. ... 90 SSS-8 S. Afric. £N.Z. to SIOOS.A. 123 1251-8 Cliungking, N.Z. pence to 1 Cliine.se Natl dollar . — 4

£ Note Issue-— Govt, debt 11,000,000 Oilier Govt tn clrcu- sees. 1,138,100.000 Jut ion 1,130,800,000 Other secs. 900,000 In bank- *£1, 150,000,000 ing dept. 19,400.000 Gold coin 200,000 £1,150,200,000 . £1,130,200,000 * Amount of fiduciary issue. p p Capital 14,500,000 Govt. see. 255,300.000 Host 3,300,000 Discts., ad Deposits— vtinces 1,200,000 Public 12,500.000 Other sees 26,900,000 Banks 217,800,000 Notes aud Other ,ac<s. 55.600,000 coin 20,300,000 £303,700,000 £303,700.000 Proportion of reserve to liabilities, 7.09 per cent., compared with 0.13 per cent. last week. 'rhe principal items of the above return compare as follows with those of last week:— June 21. June 28. Deposits— £ £ Public 0.100,000 12,500,000 Bankers 170,000,000 217,800,000 Other accounts . 55,200,000 55,600,000 £244,200,000 £285,900,000 Securities— Government ... 222,100,000 255,800.000 Discts., advances 2,800,000 1,200.000 Other securities . 14,800,000 26,900,000 TIpsppva . • 22.860.000 20.300.000 Note circulation .1,128,700,000 1,130,800,000 Government Stock Prices LONDON, June 29. Government stocks are rather auore ao five. Prices, compared with those of June 22 are as follows:— Price. Variation. £ s. d. £ s. d. Consols, 21 p.c. 79 2 6 same Ftiud. Loan. 1940-49 . 112 15 0 0 1 3‘ War Loan. 31. 1955 .. 103 7 0 0 1 3“ Conv. Loan', 31. 11)61 . 101 12 6 0 1 3* Victory Bonds. 4 p.c."112 8 9 same C’wealth. -I. 1015-75 .. 101 12 (5 0 1 3f C’wealth, 4. 11143-50 .. 102 6 3 0 3 9t C’wealth, 3. 1948-53 .. 102 5 0 0 2 6f C’wealth, 3 1950-61 .. 100 2 C 0 3 9t C’wealth. 3. 1956-59 .. 98 17 0 0 2 Gt N.S.W., 31. 1930-50 .. 100 8 9 0 2 6* Victoria. 3, 1929-49 .. 99 17 6 same Victoria. 5. 1945-75 .. 101 7 6 same Q’lantl. 3, 1942-47. ... 100 2 6 same S. Aust.. 3. 1916 (opt.) 85 5 O O 15 0’ 8. Aust.. 5, 1945-47 .. lot 8 9 0 1 3f AV. Aust.. 4. 1942-46 .. 101 2 6 same Tasm.. 4. 1942-62 .... 101 12 6 0 7 Gt NX.. 41. 1948-55 .... 105 3 9 0 1. 3f N.Z.. 3. 1015 10! O O same ■jllitflier. "Lower.

I>ott Jones avermres (1926 equals 100): — 20 Kail- 32 Shares roads. Industrials, sold. .Tunc 21 ... .... 41.03 147.90 1,;7.10,000 June 22 ... .... 41.2+ 1+7.65 1,279.00*1 Juno 2J ... .... 41,6.2 1+7.50 1,301.000 June 24 ... .... 41.56 1+7.18 558.000 June 2(» ... .... 41.73 1+8.12 1.720.000 June 2S ... .... + 1.56 1 + 7,9:’. 1,7+6.0(10 June 29 ... .... 41.31 1+S.07 1.890.000 June 30 ... .... 41.5+ 1+8.38 1,751,000 Stock And Share Indices “Financial LONDON, July 1. Times” indices (1926 equals 10O) :— June 21 .... Govt. Home Indus- Goldsee’s. rails, trials, mines. 112.9 69.6 137.+ 157.0 June 22 .... 112.0 69.6 137.7 157.2 June 23 .... 112.9 G'J.3 137.S 157.2 June 26 .... 112.8 69.3 137.8 157.2 June 28 .... 112.7 69.1 138.1 157.1 Juno 29 .... 112.7 68.8 13S.6 157.5 Tune 30 .... 112.7 68.3 13S.9 157.6