COMMERCIAL BANK

Sun (Auckland), Volume I, Issue 223, 9 December 1927, Page 13

COMMERCIAL BANK

NEW SHARE ISSUE Directors of the Commercial Bank of Australia have resolved under power conferred on them by a, resolution passed at an extraordinary general meeting of the company held on December 9, 1926, to offer at an early date to the shareholders 500,000 ordinary shares of 10s each. The resolution of December, 1926, authorised an increase in the bank’s capital from £4,000,000 to £5,000,000. Last February, the bank issued 500,000 shares of 10s each at a premium of 10s —the same terms as a number of previous issues in IS 20, 1921, 1925, and 1926. The balance-sheet at June 30 showed the paid-up capital of the bank to be £3,299,050, including the fully paid preference capital, £2.117,350, and £1,112,703 in fully paid ordinary 10s shares, the balance representing 274594 ordinary shares palcl to various amounts. Premiums received on the new issue amounting to £233,328 12s 6d were added to the reserve fur d which, with an appropriation from the year’s profits, was increased to £1,300,000. SOUTHERN EXCHANGES Press Association. , Wellington. —Reported sales: Xew Zealand Guarantee Corp. (ord.), Bs, (paid), Jn: National Mortgage Agency, 525. Christchurch. —Sales on ’Change: Bank of Australasia. £l4 14s; National Bank of New Zealand (cum div.), £6 17s (two parcels); Christchurch Gas (ns paid), 6s ** (three parcels); Electro Zinc (pref.), j-s 2d; N.Z. Guaranteo Corporation, 8s Dunedin. —Sales reported: "Westport £oal, £1 12s 6d; Wilsons Cement, £1 17s BUTTER MARKET QUIET -'nder date December 8. the London office of the Amalgamated Dairies cabled a* follows: 'Butter.— ‘Anchor,’ 1725; firsts, 168 s; quiet; Danish, lS9s f.o.b. Cheese, -•vvhlte, 945; coloured, 935; market quiet. Canadian, 102 s to 104 s. BUTTER AND CHEESE Merchants report receipt of further ersea.s cablegrams indicating a conuiuation o" the depressed state of the London butter and cheese market. nder date December 8 the London Principals of Norden and Co., Ltd., <uu»led as follows: outter —New Zealand, salted 1665, un,a ted ISOs; market dull. Cheese, white Coloured 945; market quiet. The •naiaroa is listed among the arrivals, fi, e ty and Co. are in receipt of the oilowing cablegram from their London •X®* dated December 8: J he butter market is slow. Quotations ?I F: Xewr 2.ealanrl. finest salted 166 sto Danish, 196 s to 19Ss; Australian, «n*»st unsalced ISOs, salted 166 s to 168 s. It M: The Xew Zealand market is .J 0 *; the Canadian market is steady, white and coloured, 92s to Canadian, coloured and white, 98s to Canadian, coloured and white, 9Ss to 102 s.

AUSTRALIAN PRODUCE

Cable.— Press Association. — Copyright. T . SYDNEY. Thursday, on following are to-day’s quotations Sydney produce markets:— . eat -—At country stations, ss; ex Sydney, os Tid. _ „ —Local, £l3 ss; export, £l2 <s gran.—£6 gjUard—£7. —4s f»d v *•—Tasmanian Algerian, *> s od. *3*. 4s 9d. Potatoes.— £l2 to £l3. Unions —£4 to £5. . following are the quotations at ?heat.—Growers’ lots, 5s 2£d to 5s 3d. Tour.— £l3 12s 6d. g-an— £5 ss. Pollard.— £« 17s 6d. . ~ —7d to 3s Sd.—A and