COMMERCIAL

Evening Star, Issue 24287, 31 August 1942, Page 4

COMMERCIAL

SHARE MARKET. There was very little change in the values of New Zealand Government stocks on ’Change this morning. Buyers were in predominance, one seller of the 3 per cent. Liberty Loan at £IOO appearing in response to a buyer at £99. A buyer of the 2j per cent. Liberty Loan offered £97 without attracting a seller. In the banking section, after a late sale at 39s 6d was reported, New Zealands were quoted at 39s (buyer), 39s 9d ' (seller). There was a market in New South Wales, a buyer offering £2B ss, with a seller at £29 10s. In meat preserving the market in New Zealand Refrigerating (cont.) closed at 9s 5d (buyer), with the seller 3d away. Southland (paid) were wanted at 345. In woollens buyers inquired for Bruce (ord.) at 245, Bruce (pref.) at 235, Kaiapoi (cont.) at 7s Bd, and Oamaru at 22s 3d. Tiraaru were on offer at 18s 3d. In the miscellaneous section buyers again predominated, and values were "practically unchanged from last week. Woolworths "(Sydney) were quoted at 15s 3d-15s lOd, and Woolworths (S.A.) were on offer at 18s 9d. New Zealand Breweries had a market, a buyer offering 33s 3d, with a seller 3d away. In Australian mining Broken Hill South had risen to 22s (buyer). In New Zealand mining Clutha River were quoted at Is (buyer). Is 3d (seller), and Gillespie’s at 2d-4d. Consolidated Gold were on offer at 7s 6d, Grey River at 13s 6d, Okarito at 4d, and Waitahu at 6d. Nokomai had a buyer at 4d and a seller at 7d. REPORTED SALE. —Late Friday.— Bank of New Zealand, 59s 6d. MINING. Gillespie’s Beach Gold Dredging Co. Ltd. reports a wash-up for the week ended August 29 of 41oz 17dwt for 130 hours’ work from 15,716 cubic yards. WRIGHT, STEPHENSON. The result of the operations by WrightStephonson, and Co. Ltd., is indicated to the shareholders in a memorandum issued by the chairman of directors. Earnings for the year, after deduction of general expenses, depreciation, provision for taxation, and bad and doubtful debts, amount to £70,670 4s sd. After payment of debenture interest, directors’ fees, and the company’s contribution to employees’ pension fund, the net’ profit to be transferred to appropriation account is £31,498 15s 4d. On payment of the dividends and after the transfers to reserve accounts authorised at the last annual meeting, the amount carried forward was £28,730 17s 7d. Adding to this sum the profit for the past year, a credit balance of £60,229 12s lid is shown in the appropriation account. A dividend at the fixed rate of 2j per cent, (less social security taxes) on preference shares and an interim dividend of 2£ per cent, on ordinary shares were paid for the halfyear ended December 31 last. It is now proposed to make a further payment on

preference shares of 2), per cent, (less 2s 6d in the £ social security tax and national security charge) for the half-year ended Juno 30, and to pay a final dividend of 2i per cent, on ordinary shares, which will make the dividend on the latter 5 per cent, for the year. After these proposed dividends have been paid there will be left a balance to carry forward to next year of £34,130 17s lid. Taxation absorbed 77* per cent, of the net earnings for the year.

SALES ON ’CHANGE: THIS DAY. Auckland. —Morning call: Bank of New South Wales, £29 j Bank of New Zealand, 395? 6d (2); Dominion Bycroft, 465; New Zealand Newspapers, 32a 9d; Stock (1957-60), 5i per cent., £lO2 10s; Gisborne Borough (1966), 4i per cent., £llO. Noon call: Australian Consolidated Industries. 46s 6d; Consolidated Brick, 7s; New Zealand Newspapers, 32e 9d.