BRIGHT TONE

Evening Star, Issue 23694, 30 September 1940, Page 7

BRIGHT TONE

LATE TRENDS REFLECTED MINING SHARES RISE The tone on the Dunedin Stock Exchange wti bright, and bidding was fairly free. There were some isolated instances of price fluctuations, but late trends were generally unaltered. Government loans brought an advance in the bids in some instances, with the strong demand unaltered. There was a fairly lively interest shown in banks. Quotes were unaltered for insurances, shipping, meat ' preserving, coal, and oil, loan and agency, and woollen company lines. There were two sales of the contributing issue of New Zealand Refrigerating on ’Change at late rates. In mining shares the bid for Austral New Zealand rose to £1 4s 9d. There was an offer of Clutha Rivers at 2s; The return reported to-day was again high— SOOoz, compared with 280 oz the week before and 6600 z before that, when it was reported that a pocket had been struck. - SALES REPORTED. —On ’Change.— New Zealand Refrigerating (cont., 8), 9s •d. TRADING BANKS RETURNS FDR AUGUST Returns~of the six trading banks doing business in Ngw Zealand .show that at the close of business on August 26 the New Zealand business excess of assets over liabilities was £19,092,092, as against £19,457,830 on July 29. Total assets were £101,807,018, as against £101,610,817 on the earlier date. Overseas assets in respect to New Zealand business held by the banks in London and elsewhere than in London at the end of August for the past three years wore as follows: August, London. Elsewhere. Total. 1938. £5,835,691 £2,895,691 £8,731,382 1939 4,347,966 1,492,159 5,£40,125 1940 13,394,842 2,127,048 15,521,890 Total funds for July, 1940, were £15,540.214. ’ Excess deposits were £34,322,208, an increase on the £33,066,473 on July 29. Excess of deposits over advances as at the end of August for the past three years were as follows: — • August, ■ 1938 £8,719,242 1939 ... 13,990,199 1940 ... 34,322,208 The position of deposits and advances as ftt April, 1939 and 1940, was as follows: Aug., 1939. Aug., 1940. Free deposits ... £37,366,662 £48,851,125 Fixed deposits ... 30,040,758 30,869,671 Advances 52,777,116 45.191,765 Discounts 640,105 186,823 Government securities held in New Zealand for the period ended August 28, 1939, amounted to £10,250,982: for August 26, *• 1940, they amounted to £16,001,399. , MINING NEWS CLUTHA RIVER GOLD. For the week ended September 27 the dredge of Clutha River Gold Dredging Ltd., , operating at Alexandra, worked 126 hours and recovered SOOoz. ARGO GOLD. The Argo Gold Dredging Company Ltd. reports a return of 290 z for 170 hours, in which 17,000 yards were shifled. MOSSY CREEK. ’■ The Mossv Creek return was 470 z 12dwt 1 for 121 hours, 10,427 yards being worked. GILLESPIE'S BEACH. Gillespie’s Beach Gold Mining Company reports a return of 40oz 18dwt for the past week; 16,285 yards, were shifted in 133 hours. ' / COMPANY NEWS N.Z. GUARANTEE CORPORATION LTD. The directors of the N.Z. Guarantee Corporation have decided to recommend at the annual meeting, to be held on October 29, a final dividend of Id a share, less social and national security tax. WILLIAM CABLE AND CO. LTD. A preference dividend of 3£d for the halfvear ended September 30 will be paid on ‘October 25, free of social and national security tax. TRADE WITH CANADA > BIG BALANCE AGAINST HEW ZEALAND (Pek United Press Association.] WELLINGTON, September 29 v The Minister of Customs, Mr Nash, said Vj-night that the trade agreement between New Zealand and Canada, which was due to expire at the end of this month, had been extended for a further year until September 30, 1941. The agreement was entered into in May, 1932, the original term being a year, and it had been modified and extended from time to time. The trade balance in favour of Canada in the past five years (New Zealand currency) had been as follows: 1936 £2,228,841 1937 ... £2,889,253 1938 £3,731,961 1939 ... £3,414,276 Seven months of 1940 ... 591,333 •* The reduction in imports from Canada this year is due principally to reduced imports of motor vehicles, tyres, apparel, and hosiery,” Mr Nash said. ” When trading conditions become more normal it will probably be necessary to review the agreement.” DIVIDENDS AND CALLS The following is a list of shares on which dividends will shortly be payable;— B.arnet Glass—Final, 4 per cent. pref., 4] per cent, ord Sept. 30 Cox Bros.—Ord., Is a share, pref., 8 2-5 d a share Sept. 30 General Industries Ltd.—lnterim, 3J per cent pref., 5 per cent. i ord. . Sept. 30 Dunlop Perdnau —First, pref., 5 per cent., ord., 3] per rent. Sept 30 British Tobacco—Quarterly, 2 per cent ~. . ■ ... ... Sept. 30 United' Building (Christchurch) Interim, 2$ per cent Sept. 30 Felt and Textiles—Ord., final, 5 per cent.; pref. half-yearly, 3 per cent Oct. 1 ,N ' Newspapers—lnterim, 8d a share Oct. 1 Wuuhvurths (Victoria) Ltd.—3J per cent. pref. • Oct. 15 Woolwortbs Ltd. (Sydney)—Halfyearly, 6 per rent, (ord.) ... Oct. 15 Woolworlhs (N.Z.) —Final, pref., 9 ner rent. n<r annum. Jess tax Get. 15 South British Insurance—Final. 9d a share. n!u« ho n ’is (3dl Oct. 21 William Cable (pref.) Halfyearly, 3] per cent Oct. 25