COMMERCIAL

Evening Star, Issue 23688, 23 September 1940, Page 7

COMMERCIAL

RESERVE BANK STATEMENT OF ASSETS AND LIABILITIES [Per United Press Association.] WELLINGTON, September 21. The following is a statement of the assets and liabilities of the Reserve Bank as at the doc* of business on September 16: — —Liabilities.—

POTATOES FOR EXPORT SEEKING WIDER AUSTRALIAN MARKET [Pek United Press Association.] CHRISTCHURCH, September 22. In an effort to dispose of more New Zealand potatoes in Australia, fresh representations will be made by the Minister of Marketing (Hon. W. Nash) to the Austra- , lian authorities next Tuesday. In a statement, the Minister said that sue of the main difficulties in the way of increased exports, particularly to South America, was the question of freight. Thousands of tons could be exported but for this problem. The 5,000 tons of New Zealand potatoes to be sent to Australia had given local growers some relief; and, though there had been slight complaints about the quality of the first shipment, the high standard' of the shipments had made a favourable impression in Sydney. The Minister added that the, shipments had been made expeditiously from New Zealand and only a few hundred tons remained to be shipped, whereas it was proposed when the exports were first arranged to ship at least 1,000 tons in October. Requests for Australian acceptance of further shipments had been delayed because of political conditions in the Commonwealth, Mr Nash said. The Federal elections took place on Saturday, and it would be opportune to reopen negotiations next week when the position had been clarified. ' • Referring again to the quality of the shipments, Mr Nash said that New Zealand had given Australia no room for complaints. The murmurs about the first shipment, he believed, were largely inspired by Australian merchants. MINING NEWS NEW RIVER RETURN. The official gold return of the New River Gold Dredging Company for the week ended September 19 is as follows: —Twenty ounces of gold from 6,400 yards, treated in 98 hours’ dredging time. GILLESPIE’S BEACH. The wash-up for last week for the Gillespie’s Beach Gold Mining Company showed a return of 440 z 16dwt for 132 hours’ working, during which 16,400 yards of material were shifted. CLUTHA RIVER GOLD. For the week ended September 20 the dredge of Clutha River Gold Dredging Limited, operating at Alexandra, worked 115 hours and recovered 280 oz of gold. COTTON, RUBBER, ETC. Press Association—By Telegraph—Copyright LONDON, September 21. Friday’s closing prices were as follows: Cotton: Spot, 8.40 d; October, 7.83 d. Rubber: Para, 12d; plantation smoked, llld. Linseed oil, £44. , Turpentine, 545. DIVIDENDS AND CALLS The following is a list of shares on which dividends will shortly be payable:— HOward Smith Ltd.—lnterim, 2 per cent, (ord.), quarterly, 6 8 per cent, (prof.) Sept. 25 Bank of Australasia—Final, 7 per cent Sept. 27 Barnet Glass —final, 4 per cent. pref., 4i per cent, ord Sept. 30 Cox Bros.—Ord., Is a share, pref., 8 2-5 d a share Sept. 30 General Industries Ltd.—lnterim, per cent, pref., 5 per cent. ord Sept. 30 Dunlop Ferdriau —First, pref., 5 per cent., ord., 31 per cent. Sept. 30 British Tobacco—Quarterly, 2 per cent Sept. 30 United Building (Christchurch)— Interim. 24 per cent Sept. 30 Felt and Textiles—Ord., final, 5 per cent.; pref., half-yearly, 3 per cent v Oct. 1 N.Z. Newspapers—lnterim, 8d a i share Oct. 1 Woolworths (Victoria) Ltd.—3} per cent, pref Oct. 15 Woolworths Ltd (Sydney)—Halfyearly. 6 per rent lord.l ... Oct. 15 Woolworths (N.Z.)—Final, pref., 9 per cent, per annum, less tax Oct. 15

Last week. £ 1. General Reserve Fund 1,500,000 2. Bank notes ... 19,998,630 3. Demand liabilities — (a) State ... 4,784,577 <b) Banks ... 14,775.448 (c) Other ... 288,448 ' 4. Time deposits — 5. Liabilities in currencies other than New Zealand currencies 12,000 8. Other liabilities 853,713 This week. £ 1,500,000 20.028,497 5,555,409 14,516,297 159,921 634,603 832,917 Total ... £42,212,817 £43,207,653 —Assets. — T. Reserve — (a) Gold <b) Sterling ex2,801,852 2,801,852 change 9,756,282 10,217,038 (c) Gold exchange — — ,8. Subsidiary coin 9. Discounts — (a) Commercial and agricultural 114,348 113,572. bills ... ... .. (b) Treasury and local body bills 10. Advances — (a) To State or State undertakings— (1) Primary Products Marketing Depart3,247,788 ment (2) For other 3,219,511 purposes 23,540,000 24,040,000 (b) To other _ public authorities — — (c) Other — — 11. Investments ... 2,533,219 2,553,219 12. Bank buildings — — 13. Other assets ... 247,603 234,182 Total ... £42,212,817 Proportion of reserve ’ (No. 7 less No. 5) to notes and other £43,207,653 demand liabilities 31.486 p.c 30.776 p.c. Sterling exchange Zealand currency. is expressed in New