COMMERCIAL

Evening Post, Volume CXXXVIII, Issue 55, 2 September 1944, Page 5

COMMERCIAL

BUSINESS SLOWER

,^ he, ef[ ect of the appeal for the new war ™" has been more noticeable In Stock Exchange mpning ?- 1S Week ' Part'culariy in the Governmul f n< Business here has been very S SJ,° Weii and turn°v?r for practically all issues has been lighter than for some time, prices have remained fairly steady, with a not unexpected easing tendency in some stocks, lnar, apPf;°xiinate Prices for Government .tfrfV J h, ls time last year > for last week, ana the highest price paid this week, were:—

t !L sinl ss in other sections has been limited. i-»,e bankin S section Unions have, attracted V-Y u® more attention, with sales at £8 6s 6d, while New Zealands are down to 44s 9d, at which price they appear to be steady. National w^ "e Pf still-about £2 15s. New South Wales drifted back a shade during the week %A&\tXs%T was a sale of Commerir, T \rere S aS, been a fair am°unt of business m New Zealand and South British insurance shares, and for the most part prices have remained Aery steady, with the former at £4 to £3° 19s 3d aDd the latter afc £3 19s 6d rw 6*?l6^ vn<J WOOI sections have been quiet. Gear Meat had sales at 26s 6d and 26s 3d, towu *" Cc Voollen showed two sales at 365. Wellington Woollen have dropped to £9 sellers. Some interest has again been shown in timnluv a LeylaiJd remains steady at 255, at which re Parcels have changed hands, and Rotoitl and Taupo-Totara were listed among the sales at 9s and 8s 6d respectively. The Australian section has been quiet. Broken *„} EEc, cc°V(: r? d t0 sales at 44s 3d and 44s 6d ana Colonial Sugar improved a shade to £58 Xt>S. u. P l m°t n v, g *? n sa-les record<*> during the week 40, w «f°lS wliL ß: ~New Zealand Breweries, \vL 'I s 6, d> 425; Dominion Breweries, 45s Woolworths (Sydney), 21s to 21s 3d; Wool|S 3d, Bond s Hosiery, 47s 6d; Associated Gold Dredges, os 6d; N.Z. Newspapers, 42s 9d; Reid Rubber ,27s 6d; Dunlop Rubber, 25s 2d Mckenzie's, £3 5s Sd.

SHARE PRICE INDICES.

LONDON SHARE INDICES.

DOW JONES AVERAGES.

TRADING BANK RETURNS

Total £139,789,840 £140,187,772 Free and fixed deposits as at June 26, 1944 aggregated £120,781,124, and the excess of X, 4 ° 4 v,er advances and discounts was £75,274,871 (£58,362,694) ; overseas assets in respect to New Zealand business in London ex-OTIS-'Jci?^ Ze? land currency- £10,724,943 tfcb,bzo,&Bb) ; total overseas assets, £12 501----916 (£10,355,840) ; Government securities' held <£$»«■! 7&?° d Ay *he banks ' £36,136,824 i c. .i ,'; Assregate unexercised overdraft authorities, £37,934,611 (£36,256.511).

BANK OF ENGLAND RETURN

(By Telegraph—Press Association—Copyright.) ™ t, , . LONDON, August 31. The Bank of England return for the week ended August 31, compared with that for the n Wo e und,en^ lf^y gUt 24 ' l 3 glTen ln »«»£» of | pounds, as fellows:—

BROKEN HILL ACCOUNTS.

Net profit of the Broken Hill Proprietary Co., Ltd.,. at £725,GT4 for the year ended May with 2«o--oi Sli? ht lm r""ovement. It compares 1fi50.833 1912-13, an increase of Profit from trading fell'by £79,242, which Is more than offset by an increase of £110 125 n Income from investments, this increase being a substantial recovery from the previous year s decline. „.?'*?!; net profit is reached after providing £n,281 more for ordinary depreciation than last year but £200,081 less for special depreciation of plant connected with war-time activi- ™;.» lo"'ance for taxation is £175,000 lower. Dividend of 0 per cent., to which the rate was *c, eV he Previous year, amounts to about £694,200, or slightly more than the sum set aside for taxation.

The profit has declined heavily in the last three years, and the past year's figure is little more than half that for the pre-war year—£1,431,513. Increased capital has been subscribed in the meantime.

PRODUCE PRICES,

The Dominion Auctioneering Co., Ltd Palmerston North, report the following prices for produce :—Cauliflowers, 12s to 18s 6d a sack: cabbages, 9s to 11s a sack; pumpkins, 24s a cwt; lettuce, 5s to 14s a case; swedes. 3s 6d to bs a sack; carrots, 4b to Cs a sugar bag; parsnips, to 14s a sack; spinach, 8s to 20s a case; leaks, Is 6d to 2s 6d a bunch; spring onions, Is Gd to 2s a bunch; sprouts, 7d to i>%d a 1b; rhubarb, 10s to 14s a case; radishes, 2s to 3s 6d a dozen" bunches.

p A Last £5. Tear. yearl g °- $■:::: SJU ?!* 2% .... 1953 93% 95 . 3 .... 19o2-55 98% 99 & | , .... 1953-56 98% 98% £ .... f 1953-56 97% 98% 3% .... 1953-57 102% 102 f .... 1948 104 104 4 .... 1949-52 104% 104% Wool B'onds . 20/2 ♦Buyers. tThird Liberty Loan. This week. £ 99% 98 95 99 98% 98 V* 102 107 20/1

<r,T, ?, °P wlng share-PHce index numbers for individual groups for each of the" last five years ended June 30 are published In the latest Abstract of Statistics (the base being the calendar year of 1938 equals 1000) :— 1940. 1941. 1942. 1943. 1944. Frozen meat .. 989 999 1069 1311 1550 Woollens 1130 1239 1364 1502 1729 £. as. • 881 826 785 818 872 ? f 1, mber, 1034 1000 1063 1123 1319 Minerals .... 997 1014 1004 1022 1073 Miscellaneous industrial (including brewei«es) ..... 1023 1030 1016 10S7 1215 AH industrial groups . 1002 1004 1008 1087 1214 ? anl« 933 905 886 949 1027 Insurance ... 1031 1094 1191 1381 1580 Loan and agency ..... 863 826 867 383 1160 Miscellaneous, other 1022 992 1005 1136 1419 All groups .. 984 983 997 1096 1240

(By Telegraph—Press • Association—Copyright.) LONDON, September 1. Financial Times" stocks and shares indices, with previous quotations, are (October 15 1926, equals 100) :— Govt. Home Indus- Goldsees, rails, trials. mine3. August 7 113.2 67.2 142.0 159.9 August 9 113.3 67.1 142.0 160.3 August 15 113.2 66.6 140.7 1599 August 21 113.4 66.0 138.1 159 J August 24 113.6 65.8 137.5 157 5 September 1 .. 113.9 66.1 138.0 157.6

(By Telegraph—Press Aisociation—Copyright) NEW YORK, September 1. Dow Jones averages (1926 equals 100): 20 rail- 32 Indus- Shares « roads. trials. aold. August 7 .... 40.99 145.32 1,072 000 August 9 40.92 144.92 963 000 August 15 .... 41.08 146.45 784,000 August 21.... 41.40 148.52 2,515,000 August 24 ... 40.70 147.11 774.000 September 1 . 40.89 146.99 605,000

Returns of the trading banks' business in New Zealand as at close of July 31, 1944 with those for June 26,- furnished to the Reserve Bank are as follows :— i .. k ' June 26- J^y 3i. Liabilities— £NZ. £NZ. Demand In N.Z 80,372,157 90,098,770 n A"i"X 30,408,967 30,688,775 Demand elsewhere .. 605,971 645,553 Time elsewhere .... 87,351 83 569 N.Z. excess, assets over liabilities .. 18,315,394 18,671,105 ...J otaI £139,789,840 £140,187,772 AssetsBalances, Res. Bank 36,734,957 36,122,880 Overseas asseta, N.Z. business— l? nd0* 8,162,716 10,724,943 eie^ ere 2,235,393 1,776 §73 Subsidiary coin N.Z. 692,831 678,659 Advances K.Z 45,264,183 45,396 344 Discounts 193,500 116 330 Hes. Bank notes .. 4,905,772 4,805 012 Securities held N.Z.: *.°uo,ui<: 5?J l 36,140,124 36,136,824 T i I Ku^r 2,542,169 2,514,817 i-and, buildings .. 1,918,195 1,914 990

August 24. August 31. Issue Department- {M^U-) {vaa^ Notes in circulation .... 11444 limn Notes to Banktasneuu.. wil 54.2 «ovt. debt ,, 1X0 110 m°hi; Sf Url"eS 1188-3 1188.4 other securities 0 6 0 6 Fiduciary lesue 1200.0 1200.0 uoia coin end bullion ... 09 0 2 Banking Department— » al ' 14.5 14.5 itest. 34 2 Public deposits 12 4 144 Bankers' deposits 178*.4 2019 Other accounts 58 7 5 6 '<j Govt. securities 190.0 203.T Advances and discounts . 54 6 •> Other securities 14-2 25-2 Notes and coin 57*2 55*7 Proportion, p.c 22^93 20^6 iiank-rate, 2 per cent, since October 26, 1939. Bank-note circulation on August 17 was IgM&Wo 00 ' f°r AuW S ti5fl943. was nfoSS. wlth .•• fldudary Issue of

?fet profit— From trading Investments . Year ended May 31, 1942. 1943. 1944. £ £ £ 379,885 559,880 480,638 307,826 137,911 24S,036 TotaI 6S7.711 697,791 728,674 Depreciation . 1,025,013 968,984 1,046,265 Spec. depr. ... 550,348 - 509,098 309 017 lax. prov. ... 750,000 855,000 680,000 £ lv 7. P-c 6% 5 5 Capital 13,882,889 13,885,012 13,885,012