COMMERCIAL

Evening Star, Issue 24290, 3 September 1942, Page 6

COMMERCIAL

There was no change in the values quoted for New Zealand Government Stocks at lilts morning’s call-over at the Slock Exchange. There were practically no changes in (he banking and insurance sections. In shipping, buyers offered 31s 3d for P. ami O. Stock ami 27s for U.S.S. Co. (pref.). In meat preserving Southland (paid) were quoted at 35s lOd—34s 6d, witii all other values unchanged. In loan and agency after a reported sale at 38s 6+3, National Mortgage (A) were still in demand at 38s. A buyer offered 2s lid for Guarantee Corporation. In gas ccal, and oil the quotation for Kaitangata was 31s 6d (buyer), 33s (seller). In the miscellaneous section buyers were again in predominance and there was a general rising tendency. A.C.I. were sought at 465, D.I.C. (pref.) at 24s Bd, Dominion Fertiliser at 18s 3d, Donaghy’s Rope and Twine at 47s 9d, Felt and Textiles at 36s 9d, G. J. Coles at 51s, N.Z. Drug Co. at 75s 9d, and Woolworth’s (Sydney) at 15s 6d. The quotation for Booth, Macdonald (pref.) was 6s 9d (buyer), 7s 4d (seller). In Australian mining, Broken Hill South were quoted at 22s 6d-245, and North Broken Hill at 445-455. A buyer of Electro. Zinc (ovd.) offered 445. REPORTED SALE. National Mortgage (A.), 38s 6d. TEA MARKET. Mr L. M. Wright has received the following cabled report on the Colombo tea auction of August 31:— At Monday’s sale 2,750,0001 b were offered to buyers. Competition was keen for all grades". Common teas advanced Id to lt,d, while medium and better grades were id to Id higher at close of auction. Next week’s catalogue is for 2,750,0001 b. NORTH OTAGO FARMERS’ CO-OPERA-TIVE. The director? of the North Olago Farmers’ Co-operative Association Ltd. have issued its forty-first annual report. The gross earnings for the year were £23.570 13s. After the deduction of all charges and the allowance of £4.959 for income tax and social and national security taxes, the net profit was £2,241, With the sum of £3,134' brought forward, a total of £5,375 is available for distribution, and the directors recommend that a dividend of 5 per cent, be paid and that the balance of £3,339 be carried forward. MILNE AND CHOYCE DIVIDENDS. (P.A.) AUCKLAND, September 3. Milne and Clioyce Ltd. report a net profit of £18,946, compared with £18,551 last year, after providing £51,650 for taxation and £6,593 for depreciation. Preference dividend is proposed to go unchanged, but the payment on ordinary shares and perpetual debenture stock has been raised from 5 to 6 per cent. HARBOUR BOARD' LEASES. Park. Reynolds Limited report having submitted to auction to-day on behalf of the Otago Harbour Board the following leases for a term of 14 years:—Lot 1, sections 3 and 4, block LVIII, Dunedin, area 28.6 poles, upset annual ground rent £47 10s, improvements £l2,ooo.—Present tenants National Mortgage Co. Ltd.. Lot 2, sections 20 and 21, block LVITI., Dunedin, area 31.74 poles, upset annual ground rent £46. improvements £7oo.—Present tenants Messrs George Simpson and Co Ltd. Lot 5, section 1, block LXV., Dunedin, area 11.2 poles, upset annual ground rent £7 16s, improvements £1,200. —Present tenant Mrs E. M. Roberts. All the present tenants secured their new leases at tbo upset rentals without competition CUSTOMS RETURNS. Customs revenue collected at the Port of Dunedin last month shows a decrease of £6,215 compared with the returns for the corresponding month of last year. During August the returns amounted to £32,794, whereas for August, 1941, the total was £39,009. Beer duty last month amounted to £22,354, which is £9,300 less than the total for August of last year, but sales lax shows only a very slight drop, the collections for the month just ended being £52,025, and for the corresponding period of 1941, £32,301. During last month £104,508 was collected in war expenses taxation, an increase of £64.532 over the figures for August, 1941. The following are the returns for the month, together with the figures for August, 1941 Aug., Aug.. 1942. 1941. £ £

SALES ON ’CHANGE: THIS DAY. Auckland. —Noon call: Bank of New Zealand. 39s 6d (3): Union Bank, £7; Dominion Investment, 19s sd: Pukemiro Coal (odd lot), 17s 3d; Colonial Sugar, £49; New Zealand Newspapers, 335; Wilsons Cement, 17s 2d; Woolworths (Sydney), 15s IQd; Martha, 8s 6d (2). Wellington—Sales reported: 4 per cent. Stock (1952-55). £107; Mount Lyell, 26s 6d; Woolworths’ Holdings, 18s 4d. Sale: Macduffs (pref.), 17s 9d.

Christchurch.—Sales: 3£ per cent, stock (1957-60), £102; 3£ per cent, stock (195357), £103; National Bank of New Zealand, 43s 6d; Booth Macdonald (pref.). 7s. Sales reported; National Mortgage A (late sale yesterday), 38s 6d; British Tobacco, 40s.

Customs ... 32,794 39,009 Peer duty ... ... ... ... 22,354 31,654 Sales lax ... 32,025 32,301 War expenses tax ... ... 104,508 39,066