COMMERCIAL

Gisborne Herald, Volume LXVI, Issue 20028, 29 August 1939, Page 8

COMMERCIAL

BROKEN HILL COMPANY NEW SHARE ISSUE (Per Press Association.) WELLINGTON, this day. The Stock Exchange Association has received the following cable message from the Broken Hill Proprietary Company: “The chairman at the annual meeting, referred to the general misapprehension by the public about the percentage of profits on capital, which is exaggerated by the fact that most of the company’s shares are issued at a substantial premium and shareholders had subscribed much more in cash to the funds of the company than is shown in the subscribed capital.

“As £4,459,790 is actually subscribed in premiums by Shareholders in cash, the directors have decided that it' is desirable to issue shares for approximately a like amount, which will work out at about 64 shares for each 100 shares now held. The directors are considering the steps necessary to give effect to This decision.

Since no part of such issue would come out of past profits, it would not be a bonus issue in the ordinary sense. It will be recognised that it will not enable the company to earn a larger amount of profits and no greater amount will thereby be rendered available for dividend purposes. Further particulars will be advised to shareholders in due courgci.

WAIKATO STOCK VALUES SALE IN MORKINSVILLE A smaller yarding of fat sheep than usual came forward at the M'orrinsville stock sale on Friday. Competition was

keen throughout, with prices showing an improvement pn those ruling last week. A full yarding of cattle sold under keen competition at firm rates.'

Quotations: — Sheep.—Fat wethers, 26s to 32s 3d; light fat wethers, 22s to 23s 6d; fat ewes, 17s Gd; heavy fat hoggets, 21s 3d to 235: lighter, 19s 8d to 20s Gd; fat shorn hoggets, 16s 8d to 19s 7d; store hoggets, 13s 3d to 15s Gd; ewes in lamb, 11s 9d.

Cattle.—Cows with runners, £ll 17s to £l2 12s Gd; light fat steers, £ll 10s; plain and unfinished steers, £9 10s; heavy Polled Angus cows, to £ll Is; light Polled Angus, cows and heifers, £7 19s.

N.Z. DRUG COMPANY

DIVIDEND DECLARED

(Per Press Association.) DUNEDIN, this day

At a meeting of the board of directors of Kempthorne Prosser and Company’s New Zealand Drug Company yesterday afternoon, an interim dividend of 31d for the half year ended, August 31, was declared.

SYDNEY STOCK EXCHANGE

(Klkc, Tid. Copyright —Uni tod Press Assn.) SYDNEY, Aug. 26.

There were heavy dealings in Broken Hill Proprietary on the Sydney Stock Exchange to-day. An opening sale was made at 675, with later business at 65s 9d.

Sales included: —Commercial Bank of Australia, 14s 2d; Commercial Banking, Sydney, £l7 11s; Bank of New South Wales, £27 ss; Australian Gas (A), £6 17s; Tooth’s Brewery, C2 9s (id; A.C.1., £1 13s 71d; Anthony Hordern, 12s- 9d; Associated 1 Newspapers (pref.), £1; British Tobacco. £2 5s 3d; Broken Hill Proprietary, £3 7s; ditto, £3 5s 9d. Commonwealth Bonds. —33 per cent, 1942, £99 15s; 3 1 per cent, 1954, £99 ss; 4 per cent,* 1941, £IOO 12s 6d; ‘1944, £IOO 15s; 1955, £IOO 10s; 1959, £IOO 10s; 1961, £lOl 11s 3d.

CARROTS HIGHLY PRICED

The increasing popularity of carrots on the menus of Aucklanders has resulted in this vegetable bringing high prices at 'the city markets during recent weeks, despite the fact that supplies during the past few gionths have been more plentiful than for some years. Carrots sold at the markets on Friday brought 6s to 11s a bag, or Is 3d to 2s a dozen bunches.