Investment Market To-day

Evening Star, Issue 23378, 22 September 1939, Page 12

Investment Market To-day

CAUTION FIRST SLIGHT FIRMING IN AUSTRALIANS B.H.P. BUYERS RAISE LIMITS BY 17BUSINESS IN LYELLS AT £l/10/9 Caution continued to dominate investment movements this morning, but an occasional stock reflected signs of revived interest. Australian metals received some attention from buyers, in marked contrast to the trend over the past few days, while industrials retained yesterday’s strength, with some slight advances. Other sections were mostly quiet, while business was fair. Mount Lyells changed hands at £1 10s 9d, with final buyers 3d away and no declared vendors forward. Morgans remained inactive and weak, hut Zincs firmed fractionally. Broken Hill Proprietaries rose Is- on buyers’ orders to £3 11s, the best local offer since the declaration, of war. A.C.T.s were sought up to £1 13s, Sydney Woolworths remained in demand at the better valuation of £1 2s, while Coles finished wide between £3 Bs-£3 12s. Bank of New Zealands held late rates at purchasers £1 18s, but they failed to attract a response. Insurances closed firm with business recorded in Standards ,at £2 14s 6d, the market finishing 6d on either side. Dominion industrials were quiet, while N.Z. Breweries remained slack. SALES REPORTED. —Late Yesterday.— 4 per cent. Stock, September, 194043, £97 7s fid. 4 per cent. Stock, March, 1940-43, £97 7s fid. Wilsons Cement, 16s fid. Woolworths Properties, £1 2s fid. —This Morning.— Christchurch Tramways, 4-J per cent., 1/2/42, £99 10s. Standard Insurance, £2 14s fid. Mount Lyell, £1 10s 9d (late yesterday).

DUNEDIN STOCK EXCHANGE THIS MORNING'S GALL LATEST QUOTATIONS

DIVIDENDS AND CALL LIST. DIVIDENDS PAYABLE. Auckland Farmers’ Freezing Co.— 6 per cent, per annum Sept. 23 North Broken Hill—Quarterly, 6d a share (August 29) Sept. 27 George' Farmer, Sydney—Ord., 2£ per . cent, per annum Sept. 29 Felt and Textiles —5 per cent., making 10 per cent, per annum Sept. 30 British Tobacco Co. Ltd.—Quarterly ord., 2 per cent. (September 9) Sept. 30 Dunlop Perdriau Rubber —Finals cum pref., 5 per cent., making 10 per cent., and ord. 34 per cent., making 7 per cent, per annum respectively (September 14) Sept. 30 Barnet Glass Rubber—Finals cum pref., 6 per cent., and ord., 84. per cent., making 10 per. cent, and 124 per cent, per annum respectively _... Sept. 30 N.Z. Newspapers Ltd.—lnterim, ■ 8d a share Oct. 2 Weirarapa Farmers’ Co-op.— ■ Pref. 34 per cent, per annum Oct, 2 Hume/ Pipe (Australia) Ltd.Final ord. and pref., 3} per cent, per annum, making 74 per cent. ... ... Oct. 2 Nestles ’ and Anglo-Swiss Condensed Milk (Australasia) Ltd.—Quarterly pref. at 8 per cent, per annum Oct, 2 Bank of Australasia —Interim 3s 6d per share (less British income tax, September 11) ... Oct. 6 Woolworths (N.Z.) Ltd.—Halfvearly pref., 9 per cent. (September 24) ... Oct. 15 Woolworths Ltd., Sydney—Halfyearly ord., 6 per cent. (September 24) Oct._ 15 (Dates in parentheses signify the closing of transfer books and registers.) CALLS DDE, G. J. Coles—los a share, making £1 paid Jan. 15 AUSTRALIAN MARKETS SYDNEY, September 20. The wheat market disclosed a hardening tendency, and sellers are holding off in expectation of an important announcement from the Pool _ Control Committee. Contracts are being, madie round 2s 9Jd a bushel, all charges paid. Flour is quoted at £l2 los. Bran and pollard, £4 10s. Potatoes; Tasmanian, £2l; others, £l9. Onions: Egyptian. £25; New Zealand and Japanese, to £27. Maize: Yellow, 4s 3d; white, 4s 5d,.

BETTER RESULTS DUNLOP PERDRIAU RUBBER LARGER CASH HOLDING RECORD NET PROFIT The record net profit of £426,268 reported by the Dunlop Perdriau Rubber Co. Ltd., for the year ended June 30, is £11,671 more than the profit for 1937-38, which was the company’s previous highest. The profit, which was announced in a preliminary statement published on August 26, comprises £353,329 _ from trading, and £72,939 from dividends from investments. The allocations are £93,000 for the 10 per cent, preference dividend, and £263,596 for 7 per cent, ordinary dividend, £50,000 to reserve, and £20,000 to contingencies reserve. A balance of £56,246 carried forward compares with £56,574 brought into accounts, A large increase appears in the holding of cash. BALANCE SHEET ITEMS. Results over the past three years are;— Year ended June 30. 1937, 1938. 1939,

Factory rationalisation suspense 66,507 46,137 *!n stock valuations of the company and sub* sidiaries. J Not stated separately. The consolidated balance sheet of the company, and its subsidiaries, shows an increase of £219,000 in current assets to £3,251,362. Stocks are £29,000 lower at £2,116,460. Debtors have risen by £135,000 to £781,252, and cash by £105,000 to £178,587. Current liabilities are £92,000 higher at £558,369. In addition, £36,484 is due, being, the balance of purchase money on freehold property. Shareholders’ funds are £62,000 higher at £5,610,315,' because of increases in reserves. The aggregate net profit was £450,058. This was struck_ after providing £129,424 for depreciation, AUSTRALIAN STOCK EXCHANGES FIRM MARKETS • Press Association—By Telegraph—Copyright SYDNEY, September 21. On the Stock Exchange the market firmness noted yesterday continued today on a moderate turnover. —Morning Saes.— £ s. d.

AMALGAMATED WIRELESS FINAL DIVIDEND 5 PER CENT. [Per United Press Association.] WELLINGTON, September 21. Amalgamated Wireless bas declared a final dividend of 5 per cent., payable on October 17,

EXCHANGE CONTROL BRITAIN CLOSES A GAP Press Association— By Telegraph—Copyright LONDON, September 21. (Received September 22, at noon.) The ‘ Financial News ’ says that the market welcomed the official plan to close the gap in exchange control by requiring traders to invoice foreign exchange dealings instead of sterling, thereby enabling the authorities to acquire 'all foreign exchange accruing from the sale of British goods abroad.

Buyers. Sellers. £ 8. d. £ s. d. N.Z. GOVERNMENT LOANS— 4 p.c. Stuck, Sept., 194043 — 99 10 0 3i p.c. Stock, March, 194143 98 0 0 -- 31- p.c. Stock, Sept., 194143 96 0 0 — 4 p.c. Stock, March, 194043 ... — 97 10 0 4 p.c. Bonds, 1945-46 97 15 0 — 0 4 p.c Stock, 1946-49 98 10 BANKING— New Zealand (£1) ... 1 18 0 — Commercial (10s) ... 0 14 7 0 15 3 B.S. and A. (£3) ... 4 5 0 — National of New 6 Zealand (£2 10=) ... — 2 6 INSURANCENational (7s) 0 16 6 0 17 0 New Zealand (£1) ... 2 13 0 — Standard (£1) 2 14 0 2 15 0 SHIPPINGHoward Smith (£1) — 9 1 2 0 U.S.S. Co. (pref., £1) I 4 — MEAT PRESERVING— N.Z. Refrigerating (paid, £1) 0 16 3 N.Z. Refrigerating 0 8 (cont., 10s) 0 — Southland Frozen 8 (paid, £1) — 1 6 LOAN AND AGENCY— Trustees. Executors, and Agency (£3).... 4 5 0 COAL— Westport (10s) 1 0 9 — W cstport-Stockton (ord., 10s) — 0 4 0 GASChristchurch (£1) ... 1 3 3 1 4 0 WOOLLEN COMPANIESBruce (pref., £1) ... 0 18 0 _ Kaiapoi (pref., 17s) 0 14 0 — Mosgiel (£4) 9 2 6 — Oamaru, (£1) 0 15 0 — MISCELLANEOUSAustralian Consol. Ind (£1) 1 13 0 — Broken Hill Proprietary (£1) ... 3 11 0 — Brown, Ewing (pref., £1) — 1 I 0 D.I.C. (ord., 10s) ... — 0 14 6 D.I.C. (pref., £1) ... 1 1 9 — Dominion Fertiliser (£1) 1 3 9 — Dunlop Perdnau Rubber. (£1) — 0 19 0 G. J. Coles (ord., £1) 3 8 0 3 12 U Macdufls Ltd. (ordr., 0 £1) ’ 2 0 — Milbum Lime and Cement (£1) 1 15 '0 — M’Kenzies Dept. Stores (£1) . 2 3 0 N.Z. Drug Cc. (£2) .3 7.. 6 — N.Z. Paper Mills (£1) ‘ Otago Daily Times ’ 1 5 0 1 6 0 (£1) 1 19 6 2' 0 6 Wilsons Cement (10s) 0 16 6 — Woolworths (Sydney, ord., 5s) ■1 2 0 — BREWERIES— Now' Zealand (£1) ' I 10 0 1 12 0 Tooth’s (£1) — 2 12 0 OVERSEAS MININGElectrolytic Zinc (pref., £1) 2 16 0 — Electrolytic Zinc (ord., £1) ' 2 18 6 Mount Lyell (£1) ... 1 10 6 — Mount- Morgan (2s 6d) ... ... — 0 10 0 North Broken Hill (5s) ... — 2 12 0 N.Z. MININGAustral N.Z. (£1) ... 1 3 6 Big River (Is) Gillespie’s (Is) 0 0 6 0 0 1 0 0 10 Nokomai (Ss) 0 1 6 0 2 0 Okarito (5s) ... ... 0 2 0 0 3 0 Waitahu (5s) .., ... “ 0 1 0

£ £ £ Net profits 109,761 414,597 426,268 Div., pref., 10 p.c. 93.000 93,000 93,000 Dlv., ord., p.c. ... . 7 7 7 Dtv., ord. amount 263,596 263,596 263,596 To . reserve 60,000 60,000 50,000 1' o contingencies res. ... ... 20,000 Forward ... 53.573 66,574 56,246 Depreciation ... ... t 1 118,453 Chief movements in the balance sheet items are:LIABILITIES. 1939. 1939. Capital- £ £ Preference ... ... 930,000 930,000 Ordinary ... 5,765,655 260,000 3,765,655 General reserve 310,000 Reserve for co Urgencies 307,368 818,750 Reserve for inter company profits* ... 2,500 2,500 Owing to subsidiaries .. 68,826 110.496 Balance freehold — 36,484 Deposits * ... 2,037 49,567 Creditors ... ... 165,088 184,311 Taxation reserve ... ... 69,135 87,209 ASSETS. Freehold and buildings 894,509 903,325 Plant and furniture ... 932,465 928,914 Leasehold ... 47,351 41,547 Subsldaries— Shares in 1,117,038 1,162,673 Advances to 291,409 254,869 Shares in other companies ... ... ... 1,243 1,265 Stocks ... 1,513,540 1,566,766 Debtors ... 496,493 575,470 Prepayments ... ... 2.5,308 63,943 32,036 Cash 158,943 Fixed deposits — — Debentures and trade deposits 2,252 8,296 Commonwealth securities ... ... ... ... _ Goodwill 354,377 354,377

Commonwealth Bonds— 35 per ent., 1951 97 15 0 3|- per cent., 1948 100 7 6 3J per ent., 1954 ... ... 97 5 0 3|- per cent., 1955 98 17 6 4 per cent., 1941 100 10 0 4 per cent., 1944 100 13 9 4 per cent., 1947 99 10 0 4 per cent., 1950 99 12 6 4 per cent., 1953 99 7 6 4 per cent., 1955 99 7 6 4 per cent., 1957 99 18 6 4 per cent., 1959 100 0 0 4 per cent., 1961 98 10 0 Bank of New South Wales 27 2 0 Commercial Bank of Sydney 17 0 0 Tooths 2 9 0 Australian Gas A 6 19 6 Broken Hill Proprietary 3 6 9 Eletrolytic Zinc 2 13 9 (pref.) 2 15 3 —Afternoon Sales.— £ s. d. Bank of New South Wales 27 0 0 Commercial Bank of Sydney 17 0 0 National Bank (£10 paid) 11 15 0 Howard Smith ... 1 0 6 British Tobacco 2 5 6 Tooths 2 9 3 Carlton Brewery 3 5 0 Woolworths 1 1 0 Australian Consolidated Industries 1 13 0 (rights) 0 4 1 Kandos 1 7 9 Mort’s Dock ... 0 15 6 Yarra Palls 2 0 0 Felt Textiles (ex div.) 1 9 6 Sargents 1 6 3 Goldsbrough Mort 1 9 1 Newhold 1 7 9 Eletrolytic Zinc 2 14 0 (pref.) 2 15 3 Mount Morgan 0 9 2 Mount Lvell ... 1 10 6 Broken Hill Proprietary ... 3 8 0 Norths 2 7 9 Souths 1 8 0 Kuala Kampar 0 17 6 Larut 0 7 6 Arahura Gold ... ... 1 4 6 MELBOURNE, September 21. Commercial Bank of Australia 0 14 5 National Bank (£5 paid) ... 5 14 6 Australian Consolidated! Industries 1 12 6 (rights) 0 4 0 Dunlop Perdriau 0 17 4 Gordon and Gotch 2 7 6 Coles 3 8 0 Nestles (pref.) 1 12 9 Mvers 1 i 6 Broken Hill Proprietary 3 7 6 Norths ... 2 7 6 Souths 1 8 3 Mount Lyell 1 10 4 Loloma 1 6