THE STOCK EXCHANGE

Evening Star, Issue 22145, 27 September 1935, Page 9

THE STOCK EXCHANGE

SALES THIS WEEK ON ’CHANGE. Gold Mining.—Bendigo Goldlight, Waitshu, 2s 7d. Government Loans. —4 per cent. Bonds (1946-49), £llO. REPOSTED. Banking.—New Zealand Lend “ D,” £1 13s 9d. ' Meat Preserving.—New Zealand Refrigerating (cent.), 10s Id. Miscellaneous.—Wilson’s Cement, £2; Woolworths (Sydney), Hordern (pref.), £1 2s 6d; 4i per cent. Mount Eden Borough Debentures (1949-54), £lO5. Breweries.—New Zealand, £2 11s. Australian Mining.—Mount Morgan Developments, 2s lOd; Upper Watut, 75.. Gold Mining.—Gillespie’s Beach, Is 2d (2) : Waimumu Sluicing, 6£d; Bendigo Goldlight, 5Ad (2); Kildare, 3s Id; Waitahu, 2s Bd. Government Loans«-3i per cent. Stock (September, 1938-52), £109; 4 per cent. Bonds (1946-49), £llO per cent. Stock (1937-40), £lO2, £lO2 ss; 4 per cent. Bonds (1952-55), £ll2 10s. . „ oc Unlisted Stock.—New Zealand Farmers’ Secured Deposit Stock (1940), £BS. THIS MORNING’S BUSINESS. , Sale Reported.—P. and O. Stock, £1 0s 9d. COMPARATIVE FIGURES ' - . / This Morning. East Week. Approx. Trie* Buyers. Sellers. - Buyers. Sellers 12 Months Ago « s. * £ s. d. £s. d. £s. d. £s. i.

COMPANY HEWS \ DNAKAKA IRON AND STEEL OPTION Advice has been received by debenture holders from the liquidator of the Onakaka Iron and Steel Co. Ltd. that the option to Mr A. P. F. Watson over the assets of the company has been extended for six months on payment of £SOO. J. 0. WILLIAMSON LTD. PROFITS J. C. Williamson Ltd., Sydney, reports a net profit of £20,248 for the year ended June 30, compared with £9,378 the previous year and £3,580 for 1932-33. Dividend an the rate of 6 per cent, per annum on 150,000 preference shares for the half-year ended December 31, 1934, has been paid, requiring £4,500, and the directors recommend that the balance, £15,748, be carried forward. The debit of £43,,234 at profit and loss as at June 30, 1934, has been extinguished by a transfer from reserves. HAY'S LTD. (CHRISTCHURCH) The annual accounts of Hay’s Limited, made up to August 19, 1935, show a very satisfactory position. Net profit, after transfer of £3OO to income tax reserve and writing £2OO off preliminary expenses, is £2,032, against £1,950 last year. The directors recommend a dividend!of 5 per cent, on paid-up capital, and a carry forward of £1,522. Arrangements have been made for the repayment of the first mort-gage,-of £15,000 on the company’s property in instalments of £SOO a year. With the amount carried forward from last year, £3,112 is available for distribution, and the directors recommend a payment to income tax reserve of £320 and the writing off of the preliminary expenses account or £245. STAFFORD RETURN The return from the Stafford (Hokitika) dredge to September. 18 was 50oz for 8,776 yards treated. The dredge is still working in the shallow section, which accounts for the low yardage. The previous return was 550 z lOdwt for 8,421 yards. STAFFORD HOKITIKA OPTION . The consulting engineer to Stafford Gold Dredging N.L., New Zealand, reports to his board in Melbourne, check..ooring assay results from the company’s Hokitika property as follows: No. Ito 37ft, 18d a cubic yard. No. 2 to 38ft. lOd. No. 3 to 48ft; 14d. No. 4 to 47ft, 4d. No. 5 to 43ft, Bd. All values are based on gold at £7 an ounce. EURATHA MINE In their second annual- report the directors of the Euratha Gold Mine Ltd., New South Wales, in which there are some New Zealand shareholders, refer to the disappointing results or operations. During the year ended June 30 the plant began production, and crushed 1,102 tons for a return of 2870 a smelted gold, realising £2,571. They state that the average of s.2dwt a ton was far below what large numbers of assays had led them to expect. A contributing factor was the low average percentage of recovery from the plant, consequently treatment was discontinued jn March. In an effort to revive the mine the reef is now being taken out and shipped m 15-tou lots to Port Kembla for treatment, while No. 1 shaft had been sunk in the sulphide zone and is' opening up a promising body of stone, averaging 3ft in width. In this way the directors hope to develop the mine further and to prove it at a _ depth, with a view to the future blocking out of an, ore body sufficiently large to justify extended treatment. The debit balance at profit and loss account as at June 30 is £10,401. Capital is £50,000. Mine account is stated at £18,280, development at £6,506, and plant at £11,267. Cash balances are £lB2. WHEAT, FUMfflf ETC. Press Association—By Telegraph—Copyright LONDON, September 26. (.Received September 27; at 2 p.m.) Wheat: Cargoes are steady at lower price's Parcels are.quiet and easier. Intlnres;—London: September, 28s. Liverpool: October* 6s Decembei * 6s lid; March, 5s 10id. The spot trade is quiet, Australian, ex shia, 335. : Flour is firm. Australian, ex store, 22s 6d to 22s 9d. , . . v Oats are occasionally easier* Jreas and beans are quiet.

BANK Df ENGLAND RETURN Press Association—By Telegraph—Copyright LONDON, September 26. ' (Received September 27, at 1.30 p.m.) —lssue Department.— Note issue in circulation £398,164,183 Bank department 55,408,385 £453,572,573 Government debt *- >015,100 . Other Government securities ... 246,295,705 Other securities ... ... 1,147,831Silver coin ... ... 1,541,364 Gold coin and bullion 193,572,575 £453,572,573 —Banking Department.— Proprietors’ Capital - £14,553,000 Rest 3,721,358 Public deposits 19,491,362 /Other deposits (bankers) ... ... 87,241,298 Other accounts ... .... 38,955,911 £163,962,929 Government securities ... £83,164,999 Discount advances 12,411,48 a Securities 12,190,570 Notes in reserve 55,408,385 Gold and silver coin ... ... ... 787,492 £163,962,929 The proportion of reserves to liabilities is 38.50 per cent. Short loans are quoted at | per cent.; three months’ bills at 9-16 per cent. BUTTER AND CHEESE Press Association—By Telegraph—Copyrigh# LONDON, September 26. (Received September 27, at 2 p.m.) Butter is active. Danish, 130s;] choicest salted New Zealand, 115 s to 116 s; Australian, 114 s to 115 s. Unsalted are the same. Cheese is firm. New Zealand whits, and coloured, 58s. A small quantity of Australian is available at 565. PROFITS &F PUBLIC COMPANIES AN AUSTRALIAN SURVEY “ The condition of industry and trade is fairly closely reflected in change* in the amounts of profits declared by public companies,” says the current summary of the National Bank of Australasia Ltd. “ The following table shows how greatly these have increased since 1932: ‘ PROFITS OF 102 PUBLIC ““ COMPANIES. Amount. Year declared. £ 1932 ... 2,812,007 1933 3,097,974 1934 3,687,989 . 1935 ... ... 3,938,673 “ The paid-up capital of the 102 companies as shown in their latest balance sheets amounts to and their disclosed reserves to £18,975,000. The proportion of profits to paid-up capital for the latest period shown is equal to 7 per cent., and to paid-up capital, plus reserves, 6.2 per cent. Twenty-six companies reported net / losses in 1932, against seven in 1935. Inquiry into the results obtained by private companies and firms indicates a somewhat parallel movement in their profits. . _ . “ Widely-spread increases in savings are afforded by statistics of Savings Bank Deposits. On June 30 this year these deposits totalled £217,972,000, the largest amount recorded at any time excepting in the two years 1929 and 1930. The actual and percentage increases of the last three years were; Amount. £ Per cent. 1932- ... 4,316,000 2.18 1933- ... -8,394,000 4.2 1934- ... 7,296.000 3.5 “ It is noteworthy that this growth in amount has been accompanied by an increase in the purchasing power of the pound. On June 30 last the average amount of these deposits a head of population was £33 8s 2d.” DAIRY PRODUCE Messrs A. S. Paterson and Co. »» ceived the following cable from London: —Butter: Marfeet firm. New Zealand, 115s-116s; Australian, 115 s; Dan* ish, 108 s (landed cost, 1295). Cheese; Market steady. White-coloured, 58s. Messrs Dalgety and Go. hav^. received the following cable from ' London, dated September 26:—The butter and cheese markets are firm. Quotations; Danish butter, f.q.b., ]los to 112 s; New Zealand finest butter, 116 s; Aus-, ■ tralian finest unsalted butter, 115 s; Australian finest salted butter, 115 s; Australian G.A.Q. butter, Ills. Australian cheese—white and coloured, not quoted; New Zealand—white 58s to 58s 6d, coloured 58s to 58s 6d; Canadianwhite 58s to 595, coloured 58s to 595, C.LF. 625. ,

BANKING— 11 12' 32 0 Australasia New South Wales ... — 32 10 0 — 11 13 0 32 10 0 6 Oe New Zealand 2 10 3 2 11 0 ' 2 10 3 2 11 0 2 7 6 New Zealand (Long “ D ”) Commercial 0 16 4 0 16 7 1 14 0 0 16 9 1 14 0 0 15 11 ft it Commercial (pref.) ... — T — ■ 0 4.«J 17 7 5 6 6e Commercial, Sydney E.S. and A 5 9 0 — 5 9 0 6 National of New Zealand 3 13 0 — 3 12 6 3 14 0 National of Australasia ... — — — 12 15 0 National of Australasia (cont.) Reserve ... 6 9 0 6 10 0 6 9 0 6 19 0 6 10 0 6 5 6 9 0 3 Union of Australia Ltd. - 9 9 0 _ 9 9 0 9 12 Oe INSURANCE— 10 9 3 4 6 4 14 6 3 11 3 0 19 3 3 4 4 3 7 3 10 0 10 10 Oe 0 Oo 0 4 National New Zealand South British Standard - 1 0 4 10 3 10 9 4 9 - Queensland A.P.A. ... - ' - 1 2 0 “ SHIPPING— 0 15 6 Howard, Smith ... ... 0 17 5 — — — Huddarl, Parker (ord.) — — — 1 13 9c Huddart, Parker 1 8 0b (pref.) 1 6 0 — — P. and 0. Deferred # 1 19 0 Stock 1 0 3 — — 13 0 U.S.S. Co. (pref.) ... 1 7 0 — 1 7 0 1 7 0 MEAT PRESERVING— 6 Gear Co. — — — — 1 6 N.Z. Refrigerating (paid) 1 0 9 1 0 9 —i 0 18 6 N.Z. Refrigerating (cont.) 0 10 1 0 10 4 0 10 0 0 10 3 0 9 0 Southland Frozen (paid) ... 4 1 0 _ 4 2 0 3 12 0 Southland Frozen . (cont.) ... — 2 0 0 — 2 0 0 1 16 0 Southland Frozen 3 12 6 2 A (pref.) ... South Otago Freezing , Waitaki Farmers’ 7 5 0 7 5 0 — : U 0 2 10 0b Freezing ... — LOAN AND AGENCYDalgety and Co. .... Goldsbrough, Mort ... 1 8 0 1 10 0 — ■ 0 111 6 0 6 1 2 15 6 9 3 1 11 6 6 Mortgage Corporation 0 5 6 0 6 0 0 6 ' 3~1, 0s National Mortgage ... — National Mortgage 1 11 6s (“B” Issiit) ... 12 6 —• A.Z. Loan and Mercantile (ord.) ... — 35 0 0 — , 53 15 0 N.Z. Guarantee Corporation ... Perpetual Trustees ... Trustees Executors and Agency ... ... - 0 3 5 3 2 0 0 5 ,8 0 5 3 3 2 0 0 5 7 0 4 3 0 6 0b 3 3 0 — 3 3 O' 3 0 0b Wright, Stephenson (ord.) ... — — 0 18 S - 0 18 3s Wright, Stephenson (pref.) 1 0 3 “ I 0 3 — 1 1 0 COALKailangata Westport ... *. 1 1 0 1 2 3 1 1 0 12 5 1 1 0 19 0 0 W estport-Stockton (ord.) , — — — - 0 3 4 W estport-Stockton 0 4 9 (pref.) — WOOLLEN COMPANIES 0 11 • 1- 1 0 13 0, 4 1 1 9b 6b 9c 3c Bruce (ord.) Bruce (pref.) ... ... Kaiapoi (ord.) 0 14 0 1 2 9 - _ 13 0 Kaiapoi (cont.) — —■ 0c Kaiapoi (pref.) Mosgiel Z 10 14 0 ‘ - 10 15 0 10 12 6 MISCELLANEOUS— Associated News 1 3 0 — — — — Australian Iron and ■ ' Steel (pref.) — —* — — 1. 3 3 Australian Glass — — , — 4 4 0 2 12 6 British Tobacco — — — 1 19 9 1 17 2 Broken Hill Proprie2 8 tary (cum rights) ... 3 0 — — 3 5 6 9 Brown, Ewing (ord.) — — ■— — 0 18 9b Brown, Ewing (prof.) — — •— 1 1 6 Colonial Sugar Co. — — — — 66 5 0 Consolidated Brick ... — 0 11 2 —• — 0 9 9 Crystal Ice Co — „ 1 15 0 — 1 17 0 O.T.O. (ord.) — 0 — — •—■ 0 15 3b D.I.C. (pref.) ... ... 1 4 — 1 4 0 — 1 5 0 Dominion Fertiliser ... — 1 3 9 — 1 4 3 1 0 0 Dominion Fertiliser 0 0 Debentures 105 — 105 10 0 — — Dominion Rubber ... 1 5 0 1 8 6 1 5 0 1 8 0 1 8 6 Donaghy’s Rope and 2 8 0b Twino ... ••• —• — ■— Dunedin-Kaikorai 1 16 6b Trams •— •— — — . Dunedin Stock Ex0 0 change / Proprietary 2 £ — — 2 4 Dunlop Perdriau i Rubber OHO 0 H 1 OH .6 0 19 S Kauri Timber — — — — 0 17 9 Milburn Lime and Cement ... . 2 5 3 — 1 2 5 3 1 15 0 8 Oc National Electric — — 0 — — 6 N.Z. Drug Co 4 2 — 4 3 6c. 3 18 0 N.Z. Fanners’ FerH) 19 1 11 1 12 2 10 ‘9 6 6 Q tiliser N.Z. Newspapers N.Z. Paper Mills ... 2 0 0 2 1 1 9 3 6 * 1 19 6 19 6 ‘ Otago Daily Times ’ Regent Theatre ... ,.. Smith and Smith 2 9 6 0 17 0 — 0 17 0 0 10 0 o n 3 (pref.) Wilson’s (N.Z.) 2 10 1 10 0 Cement — 7 10 0b Woolworths (ord.) •— 2 2 0 Wool worths (nref.) ... — 0 — t A 6 5 7 0 Woolworths (Sydney) 5 8 D S BREWERIES2 7 11 1 New Zealand 2 10 6 - 2 10 9 2 11 9 6 Oo Staplesls .. 1 7 6 Dunedin — ■ 0 9 0b Timnru — 2 5 0 Tooth’s — — 2 5 0c Carlton — AUSTRALIAN MINING— Electrolytic Zinc 1 15 3tf (prof., £1) . — Electrolytic Zinc 0 0 1 8 Oo (ord., £1) ..... ... Mount Lyell (£1) ... Mount Morgan (5s) ... 1 » 0 18 0 19 0 1 17 9c 1 16 9c 0 19 0 1 17 6c 1 0 1 14 2b 0b Mount Morgan De0 3 9 _ fvelopments GOLD MININGBendigo Goldlight (Is) Big River (Is.) 0 0 51 0 0 0 2 6 3 0 0 0 1 11 0 0 6J 0 1 0 1 1 12 0 1 6b Blacl: water Brian Born (Is) -- -• — o n 4 0 0,6 0 1 0 0 -6 ) Oiarlcston (H) Gillespie’s (Is) 0 1 2} 0 0 1 0 4 0 1 le 0 1 9), Glenroy (Is) 0 0 1 2 Golden Progress (Is) ■ Goldfields Dredging a*) ;. ... Golden Sands (Is) ... Kildare (2s) ... ... 0 0 2 .3 7 0 0 0 0 3i 0 2 0 3 7 0 0 3 3 0 ,1 o 1 0 f 0 11 3 King Solomon (Is) >m 3 6c

This Mornine’. Last Week. Approx. Price Buyers. Sellers. Buyers. Sellers 12 Months Ago. £ s. d. £ s. d. . £«, . d. £ s._ d. £ t . a. GOLD MINING (Continued)— Mahakipawa (6d) — 0 — — 0 — 0 0 10J Mount David (5s) ... — 1 6 — 1 6 Maori Gully (Is) ' — — i — ' ■ Nokomai (5s) — 0 2 0 0 5 0 2 0 0 4 — 0 5 6 — 0 5 6 0 8 7 Oxenbridge (Is) — 0 0 3i- — 0 0 4 0 0 91> Paddy’s Point (5s) ... — 0 2 6 — 0 2 6 „■ ■ Sandhills (Is) — — — 0 0 6 0 0 0 0 8 Skippers (Is) 0 0 2) 0 0 3 Waihi Grand Junction (2s) — — - 0 4 0 — Wahnumu Sluicing (Is) ... i. Waipapa Beach (Is) 0 16; I 0 1 8 0 0 4 0 T 9 0 4 5 Waitahu (5s) — N.Z. GOVERNMENT LOANS— (Bonds quoted are £100 bonds.) 31 p.c. Stock, March, 193643 — 103 0 0 — -■ 31 p.c. Stock, May, 1936-52 . — 108 15 0 — - 31 p.c. Stock, Novem*ber, 1938-52 108 15 0 — 108 15 0 — 31' p.c. Stock, March, 193943 ■ 105 10 0 103 0 0 103 10 0 ■— 31 p.c. Stock. Sept., 193943 103 10 0 103 0 0 103 10 0 — 31 p.c. Stock, May, 108 15 0 S 1939-52 ... — 108 15 0 — 31 p.c. Stock, March, 103 0 194143 ■ — 0 — 31 p.c. Stock, Sepfcem103 her, 194145 — 0 0 31 p.c. Stock, May, 1941-52 108 15 0 — 108 15 0 — — 31 p.c. Stock. November. 1941-52 i 108 15 0 —- 108 15 0 — 4 p.c. Bonds, 1937-40 101 15 0 i n.c. Stock. 1937-40 101 15 0 101 15 0 102 10 102 10 0 0 — 4 p.c. Bonds, 194346 • 4 p.c. Stock, 194346 4 p.c. Bonds, 194649 4 p.c. Stock, 194649 106 5 0 —*. I0Y u 0 — 106 5 0 „ — 107 0 0 — 109 5 0 — 1UU 15 0 109 5 0 — lo0 15 0 — 4 p.c. Bonds, 1952-55 4 p.c. Stock, 1952-55 111 5 0 — JLJ Z U 0 111 5 0 — 112 0 0 b, buyer; s, seller; c» cum diy.; e. ex div.