DOMINION LOANS

Sun (Auckland), Volume II, Issue 350, 10 May 1928, Page 12

DOMINION LOANS

NEW ZEALAND DOES BETTER THAN AUSTRALIA MUCH BETTER TERMS (United P.A.—By Telegraph — Copyright) (Australian Press Association.) Reed. 10.45 a.m. LONDON, Wed. Commenting on the cabled advice from Neiv York of the flotation of a Commonwealth loan of £10,000,000 at 92J, financial cricles declare that the New Zealand loan was floated here on much better terms. Moreover, as it was oversubscribed, the deduction is permissible that sufficient money for the Commonwealth Loan on the same terms as the New Zealand loan would have been available here. WOOL VALUES THE SAME LONDON SALES (United P.A.—By Telegraph — Copyright) (Australian Press Association) Reed. 10.10 a.m. LONDON, Wed. At the wool sales, 8,068 bales were sold, of which 3.764 were Australian and 4,304 New Zealand. There was a good selection of Merinos of spinners’ descriptions, and a good average offering of greasy crossbreds and slips. Competition for all sorts was keener than yesterday, but prices were unchanged. New Zealands: Mount Fortune. 27£d, 26d; Howard, 25|d; A.R.A.. 21 d, 20d. __

BYCROFTS, LTD. SATISFACTORY TRADING YEAR Results of the trading operations of Bycrofts, Ltd., were satisfactory, according to the directors’ report to be presented to the annual meeting of shareholders scheduled for May 16. The sum of £10,286 has been transferred to the profit and loss account and payment of a dividend of 8 per cent, is recommended. This will absorb £7,260 one-half of this amount having been distributed last November. The report states that ample provision has been made for income tax, while the necessity for providing for changes in types and values of machinery and plant and for making proper allowances for keeping the book values of the buildings on a correct basis has been fully recognised. To allow for depreciation, £6,010 has been transferred to the depreciation has reached a total of since 1919. In addition to maintaining existing plant at a high state of efficiency, additions were made in each department, including the replacement of horse-drawn vehicles by new motor delivery wagons of the latest type. The retiring director is Mr. Edward Anderson, who is eligible for re-election. Following is a comparison of the company’s results for the last three years: 1 Q9C IfiO*r m.m

LONDON TALLOW MARKET Dalgety and Co.’s London house, under date May 9, advises as follows: “The tallow market is Quiet and unchanged. ’

ROMANCE ON ’CHANGE PROFITABLE INVESTMENTS “There is romance written in every share list on ’Chane,” said Mr. G. R. Buttle during the course of a lecture on the “Work of the Stock Exchange,” delivered to commerce students of the Auckland University College last evening. Quoting instances of the rapid progress made by many insurance concerns. Mr. Buttle mentioned the case of the South British Insurance Company. Shares in the company, which are worth approximately 60s to-day, cost the original holders 2s; £IOO invested in the company at the begin is now worth £3,000, and returning an annual income of £l2O. The shares to-day were worth five times their value twenty years ago. The Colonial Sugar Company, said Mr. Buttle, provided a romance of an even more recent date. Ten shares purchased for the total sum of £332 in 1922, were to-day worth £1,026. Investors on ’Change comprised all sections of the community. An indication of the popularity of investment with the small man as a means of providing for the future could be taken from the fact that the average broker’s commission on per >ale in Auckland was estimated at under £2. COLONIAL SUGAR COMPANY (United t' A —7> y Telegraph — Copyright) SYDNEY, Wednesday, At the adjourned general meeting of shareholders in the Colonial SugaRefining Company, the chairman an* nounced that the ballot of shareholders in connection with the proposed alteration in the company’s articles resulted in a majority of 11,203 in favour of the amendment.

Brought forward Xet profit .. 1926. £7,084 9,463 1927. ' £1,712 9,018 1928. £3,470 10,286 Dividend. S p.c. . To capital .. £16,547 6,585 8,250 £10,730 7,260 £13,756 7,260 Carried forward £1,712 £3,470 £6,496