QUIET OPENING

Evening Star, Issue 23700, 7 October 1940, Page 7

QUIET OPENING

LATE RATES UNCHANGED MINING ISSUES IN DEMAND The share market this morning remained almost entirely unaltered from quotations ruling at the end of last week. Trading was considerably more quiet, only one sale being reported, and that a late sale from last "Friday. Union Banks were turned over at £7 2s 6d. Government loans experienced a fair demand, and banking issues were fairly widely quoted. Interest slackened in meat preserving, but there was a fairly bright inquiry for loan and agency lines. A wide margin separated buying and selling quotes for New Zealand Drugs (rights), with values still high. The main issue slipped slightly to be offered at £3 14s 9d. Breweries were still down on late rates. Sellers were asking 2s 3d for Clutha Rivers, and buyers advanced to £1 5s for Austral-New Zcalands. The market for other mining shares was fairly bright. SALES REPORTED. —Late Friday.— Union Bank, £7 2s 6d. PROPERTY SALES Alex. Macdonald reports the following sales for the week ended October s:—On account Mr T, W. King, Pollock street, brick bungalow, to Mr Forsythe; account Mrs Mary Woods, story double-brick residence. to Mr Harris; to Mr J. Upjohn, a brick bungalow’in Durham street; to Mr F. Shirley, three sections m Brighton; total, £6.380. EMPIRE HONEY PRICES Press Association—By Telegraph—Copyright LONDON, October 5. The Minister of Food (Lord Woolton) has fixed the maximum prices for Empire honey, including New Zealand 70s and Australian 655. COMPANY NEWS COX BROTHERS LTD. Cox Brothers (Australia) Ltd. show a net profit for the year ended July 31 of £61,084, to which is added £3,582 brought in from the previous year, making a total of £64,666. compared with £61,804 the previous year. From this is deducted the interim dividends paid last March amounting to £26,836, and an amount of £1,150 representing loss on the sale of a manufacturing business at Perth, leaving £36,680 available for distribution. The directors recommended final dividends on A preference shares £5,862, on L preference shares £4,305, and on ordinary shares £14,144, the last-mentioned being at the rata of 10 per cent, per annum and making a total of 12 J- per cent, for the year. It is proposed to add £5,000 to general reserve, £SOO to provision for contingencies, and to carry forward £2,369.