Commerce, Mining, & Finance

Evening Star, Issue 22458, 1 October 1936, Page 9

Commerce, Mining, & Finance

SYDNEY WOOL SALES Press Association —By Telegraph—Copyright SYDNEY, September 30. At the wool sales 12,322 bales were offered and 11,429 sold, while 1.247 were disposed of privately. Wider competition to-day resulted in withdrawals being less frequent, while the market was firmer for all descriptions. Yorkshire and the Continent operated actively. Greasy merino made 21Jd. AUSTRALIAN STOCK EXCHANGES Preii Asiociation—-By Telegraph—Copyright ' SYDNEY, September 30, Stock Exchange business in investments was wide in range rather than heavy in volume, and prices were inclined, to harden. Bank shares were steady,’ dealing in gold shares contracted; and Mandated Alluvials received another heavy setback. MORNING SALES. £ s. d.

MELBOURNE, September 30. Barriers and general investments were in strong demand, with some profit taking in gold mining.

PRICE OF GOLD frew Auoeiation—By Telegraph—OopyrigM LONDON, September 30, (Received October 1, at noon.) Fine gold is quoted at £7 Os 2d an ounce. DOLLAR AND FRANC Press Association—By Telegraph—Copyright LONDON, September 30. (Received October 1, at noon.) The dollar is quoted at 4.96. The franc is not quoted. ADDINGTON STOCK MARKET There was little change in values at the'Addington stock market yesterday, except in .the_ fat cattle and spring lamb sections and in some classes of the store sheep. Cattle improved as a result of the short entry, and wether hoggets declined because of the over-supply. Spring, lambs were also in excess numbers, and these eased by 2s a head. .Store Sheep.—There was a heavy entry of wether hoggets, which were weaker by Is 6d a head. Ewe hoggets were unchanged, but ewes and lambs improved by Is 6d. Best ewe hoggets sold at 31s 6d, best wether at 23s 6d, and an outstanding line of four-tooth owes and lambs, all counted, at 245. Spring Lambs.—A total of 160 were penned and an easing of 2s per head took place. Hates were from 9kl to lOd per lb. Fat Sheep.—There was a heavy entry in the fat sheep section, including many southern lines. It was a good sale until near the final stages, when values weakened by Is a head. Best wethers made from 35s to 445, good medium weights 30s to 335, other wethers down to 275. Best ewes made from 28s 6d to 36s lOd, good medium weight 24s to 28s, and others down to 18s. Fat Cattle.—There was a very small entry of 325 head, and an improvement in values’ of 255, Best cattle made from £l4 to £l7 17s 6d, good medium weights £ll 15s to £l3 15s, light steers to £9 10s, best heifers £lO to £l4, good £8 to £9 10s, extra prime cows £9 to £l3 17s 6d, others down to £5. Fat Pigs.—lt was the best porker sale for some months, values being from 6fd to 7d, and baconers 6d to 6sd.

THE SEARCH FOR GOLD WAIPAPA BEACH DREDGE Messrs W. A. Mitson and Co., secretaries of the Waipapa Beach Gold Dredging Company Ltd., report that the crankshaft of the Diesel engine broke on Thursday last, causing the cessation of dredging. The damaged engine is now being replaced, and it is expected that dredging operations will not be delayed more than about three weeks. CENTRAL SHOTOVER COMPANY PROSPECTS FOR BRIGHTER FUTURE. The report of the directors of the Central Shotover Gold Mining CompanyLtd. for the 15 months ended on June 30 last states:— In the directors’ report, submitted for the year ended On March 31, 1933, reference was made to the agreement then negotiated with Mr Joseph Stephens, which provided for the working of the claim by a tribute party on a basis of 30 per cent, of the profits to the Central Shotover Gold Mining Company Ltd. without liability on the part of the company in the event of a loss being made. This tribute party has done well, having been aided by the unusually favourable conditions of the Shotover River, which, for the winters of 1935 and 1936, were more favourable to continuous mining operations than in former seasons. For the sis months ended December 8, 1935, the tribute party won 960 z 17dwt; for the six months ended June 8, 1936, it won 1920 z 4dwt, and since that date it has had even better returns, which will be incorporated in the statement to be furnished by the tribute party for the period ended on September 30 next. The company’s share of profits. should restore the finances to a condition enabling it to finance the operations of the claim itself, and Mr George Vernon has been offered the position of claim manager as from the date of expiry of the present tribute agreement. The directors consider that, under Mr Vernon’s management, payable returns can be expected for a very considerable period. The directors retiring by rotatation at the next annual meeting of shareholders are Mr W. D. M‘Leod, of Mandeville, and Mr L. N. Dyhrberg, of Christchurch. Mr G. S. Kirby, the company’s auditor, also retires and is eligible for re-election. EGG EXPORT TRADE AUSTRALIA’S MILLIONS The accounts of the Australian Egg Marketing Board for the pool year ended May 30 last show that during the period 20,755,935 dozen eggs were received as compared with 20,054,997 dozen for the previous year, over which period, it is noted, direct sales were not recorded from June 4 to August 4, 1934. The compulsory pool operated for only 43 weeks, making exact comparisons impossible. Of the board’s receipts 4,770,690 dozen were exported and total sales on the local market amounted to 15,985,245 dozen, an increase of nearly 3,000,000 dozen. The average price received by the hoard for all eggs handled increased by 1,007 dto Is 1.764 d per dozen. While the board claimed for its price last year Is 0.747 d per dozen (this has been repeatedly referred to as the price received by the producer), the AuditorGeneral has pointed out in his annual report that the net return for that pool year was 10.93 d per dozen. Costs of handling were about l-10th of one penny per dozen. CUSTOMS RETURNS AUCKLAND The revenue collected from all sources by the Customs Department at Auckland for the last nine months totals £3,596,742, an increase of £705,374, or just over 25 per cent, over the figure of £2,891,368 for the same period last year. The total for September is £411,258, an increase of £59,345 over September, 1935. Customs duties alone for the nine months, £2,299,536, show an increase of £401,452, or nearly 2oi per cent. The September figure, £261,290, is better by £25.632 than September last year. CHRISTCHURCH The Customs returns for the month of September in Christchurch were as follow;

WELLINGTON The Customs revenue collected at Wellington from all sources in September totalled £422,802, an increase of £83,326 over September, 1935. The sales tax for September, totalling £95,100, established a new record. The net Customs total for the nine months of the current year exceeds the figure for the corresponding period of 1935 bv £449,162. The net Customs revenue collected at Wellington in September totalled £283,601, compared with £227,827 in September, 1935, an increase of £55,774. The duty collected on motor spirit for September totalled £62,134, compared with £47,162 for September, 1935, an increase of £14,972. The collections of tyre tax in September totalled £1,073. compared with £2,181 in September, 1935, a decrease of r £l.lOB. Die collections of sales tax in September totalled £95,100, compared with £<6.186 in September, 1935, an increase of £18,914. Beer collections for September totalled £5,751, compared with £4,969 in September, 1935, an increase of £782. i

COLOMBO TEA SALE Mr L. M. Wright has received the following cabled report on the Colombo tea sale of September 29: — At yesterday’s auction of 1,250,0001 b common teas remained steady at last week’s prices, while low, medium, and fine teas advanced 1 cent. Quality of tea is declining. Next week’s sale has been catalogued for 1,250,0001 b. DIVIDENDS DUE Australian Knitting Mills —Final, half-year, pref.,- 3} per cent., ord., 4 per cent., making 1 per cent, per annum Oct. 2 Lincoln Mills—Final, pref., 5 per cent., and ord., 8 1-3 per cent. Oct. 2 Bank of Australasia—lnterim, 3s 6d per share Oct. 2 Howard Smith —Ord., 2$ per cent, per annum; pref., li per cent. Oct. 6 Amalgamated Zinc (He Bavay’s) —Half-yearly, 5 per cent. ... Oct. 9 Amalgamated Wireless—final, 6 per cent, and bonus 1 per cent., making 11 per cent, per annum ... Oct. 12 Woolwcrths Ltd. —quarterly, ord. •2 per cent Oct. 15 Woolworths (N.Z.) Ltd.—lnterim pref. £2 14s per cent Oct. 15 Burns, Philp (South Sea) —halfJ early 5 per cent, per annum Oct. 15 . Coles—lnterim, quarterly, 2£ per cent Oct. 15 Wunderlich Ltd. —Interim halfyearly, ord., 6 per cent, per annum; Ist and 2nd pref., 6 per cent, per annum; 3rd pref., 7 per cent, per annum Oct. 15 United Provisions —pref. halfyearly, at 8 per cent, per annum, ord. 2 per cent, per annum Oct. 30 N.Z. Guarantee Corporation— Final, 2d a share. 9 13-18 per cent, per annum Oct. 30 Imperial Chemical Industries Ltd. —lnterim, 2£ per cent., on ordinary shares Nov. 2

Commonwealth Bonds— 4 p.c., 1941 ... ... ... 102 10 0 4 p.c., 1955 ... 101 17 6 4 p.c., 1957 * 102 7 6 4 p.c., 1961 101 2 6 Commercial Bant of Sydney 19 17 0 Bank of New South Wales 33 12 6 Australian Gas (A) ... ... 7 7 6 Tooths 2 16 3 British Tobacco (ex div.) ... 2 4 0 Burns, Philp _ ... 3 12 0 General Industries (ex div.) 0 19 3 Goldsbrough, Mort ... ... 1 13 10* Sargents ... ... ... ... 1 8 9 AFTERNOON SALES. Bank of New South Wales 33 12 6 (New Zealand Register) 33 10 0 Commercial Bank of Sydney 19-17 6 E.S. and A. Bank 5 16 0 Colonial Sugar 43 7 6 Associated News ... 1 3 10* (pref) 1 4 0 Burns, Philp 3 12 0 British Tobacco (ex div.) 2 4 0 Tooths ... ... 2 15 9 Tooheys (ex div.) 1 11 6 Carlton Brewery 3 2 6 Dunlop Perdriau (ex div.) 0 17 n . (pref.) 1 13 6 Goldsbrough, Mort Winchcombe, Carson 1 13 101 1 14 3 Horderns ... 0 18 9 Cash Orders ... 1 3 3 Stedman ... ... ...; ... 0 16 n Sargents ... 1 8 9 Gibson and Howes ... ... 1 12 6 South Broken Hill ... ... 6 2 0 Zinc Corporation ... ... 4 3 6 Mandated AUuvials 0 17 6

Commercial Bank of Aus- £ 5. d. tralia 0 18 7 National Bank (£5 paid) 7 3 6 (£10 paid) 14 10 0 Coles '(es rights) 3 17 9 Drug Houses Australian Iron and Steel 1 11 3 (pref.) 1 6 4J Australian Glass 4 13 6 Dunlop Perdriau (ex div.) 0 17 8 Goldsbrough, Mort 1 14 0 Electrolytic Zinc (ord.) ... 2 3 9 (pref.) 2 6 9 Mount Morgan 0 14 11 Mount Lyell .., ... ... ... 1 10 0 North Broken Hill 9 13 6 South Broken Hill 6 2 0 Emperor 0 15 4 Loloma 1 3 4i Yarra Falls ... ... ... ... 2 0 3 Kauri Timber - .;. ... ... 1 5 0

1936. 1935. Customs ... ... £94,928 £76,103 Boer duty ... 10,834 6,980 Sales tax ... 33,916 25,928 Petrol duty ... 18,699 14,269 Tyre duty 901 1,261 For the six months of the financial year the figures -were:— 1936. 1935. Customs ... £525,285 £430,437 Beer duty 47,598 41,571 Sales tax ... 191,277 156,596 Petrol tax ... 116,352 90,500 Tyro duty 5,593 6,121