CUSTOMS REVENUE

Sun (Auckland), Volume II, Issue 418, 1 September 1928, Page 12

CUSTOMS REVENUE

FURTHER DECLINE PORT OF AUCKLAND FIGURES Customs revenue figures for the Port of Auckland reveal the fact that the amount collected during the first eight months of 1928 is the lowest for several years. It totals £1,410,717, which is £198,192 lower than the figures for the corresponding period last year. A further decline in revenue occurred last month, when the receipts were £227,402 compared with £246,061 in August, 1927. Motor spirit importers were more active last month, and the value of importations was £19,782, which is £4,117 higher than the previous month and six times the amount collected in June. The revenue from the tyre tax, £3,292, was a smaller amount than that collected the previous month, when the figure was £4,287. Customs revenue and tyre tax figures for the first eight months of 1928, compared with those for the corresponding months of 1927 and 1926, are:

Beer duty last month amounted to £6,983, compared with £10,016 in August, 1927, and £10,871 in August, 1926, INCREASE AT WELLINGTON A substantial increase in the Customs revenue collected at the Port of Wellington in August is shown when compared with the corresponding month last year. The figures are: Net customs: August, 1928, £278,361; 1927, £203,884. Beer duty: August, 1928, £3,048; 1927, £3,958. The petrol tax yielded £26,948, and the tyre tax £4,300. CHRISTCHURCH DECREASE Customs duty collected at Christchurch this month totalled £91,601 6s Id, against £116,442 19s lid for August 1927. The beer duty amounted to £6,160 against £4.766 10s 3d.

SUN COMMERCIAL SERVICE A special section for readers seeking information on financial and commercial questions is included in these columns every Saturday Names and addresses must be given in every instance, although not for publication . and inquirers are requested to send in questions early in the week addressed to the Commercial Editor , THE SUN. A.G.M., Mount Eden.—At the figure you mention the return would be £6 Is Id. The balance sheet for the 1927-28 season is not yet available, but, in common with most other companies dealing with the man on the land, it is reasonable to suppose that an increased turnover will be revealed. At the date of. the last balance sheet the preference capital was secured by tangible assets of £2O 0s lid per £5 preference share fully paid, while the 1927 net profits came to more than three times the amount of the preference dividend. The company has paid a steady 5 per cent, on the ordinaries, and 6 per cent, on the preference over the past five years and, with the coming of better times, it is only to be expected it will continue to do so. The ordinary shares do not appear particularly attractive by reason of the small dividend and the low margin left for reserves. (Net assets at last balance equalled £5 16s 4d for £5 ordinary fully-paid share.) Glen, Valley Road.— You know, of course, that the directors of the first-mentioned company are considering a scheme of reconstruction. No doubt the preference shares will be written down with the ordinaries. It is hard to see how the market can see present par value again. We do not consider scrip in the picture concern mentioned safe in the way that “safe” is used in investment circles. Although at present apparently doing reasonably well and administered in a manner that allows room for no adverse comment, shareholders have no say in the management of the company. The balance sheets reveal little. Northern Steams have certain attractions at that figure. His Majesty’s Arcade preference would be good buying at that figure. We know where we could place several hundred. In regard to your last question, we hesitate to advise. We would point out, however, that working costs at the mine are heavy, and there is every possibility of the management striking keener competition in the near future We would be inclined to take 30s if the market did reach that height. W.C.R., Papatoetoe. —Unfortunately we have not the information you require. We have sent the query on to our Australian representative and should have a reply within three weeks. Te Kainga, Penrose.—Just what officials you require information about it is hard to understand from your letter. If you desire to get in touch with the share and loan department write to the secretary, 4 Copthall Buildings, E.C., London. If you desire additional information be more explicit and we will help you. 1 S.L., Dannevirke.— The company went into voluntary liquidation in October of last year. F.M., Devonport.— We would certainly not sell for the reasons given. The scrip should be worth holding. F.L.O’S., Waihi. —We understand that the company has struck a bad patch at the mine and is experiencing trouble in getting into good coal again. There is practically no market for the scrip at the moment. We would be inclined to hold for a while, the market has always recovered after similar setbacks m the past.

1928 1927 1926 £ £ £ January .. 172,148 178,573 209,989 February .. 204,962 202,518 220,762 March .. .. 184,833 221,231 204,766 April . 137,729 .. 161,813 157,229 211,939 May . .. 157,770 27S,S87 176,34S June . .. .. 151,316 163,2S2 July . .. .. 170,514 156,640 186,806 August .. .. 227,402 256,061 243,711 1,410,717 1,60S,903 1,617,603