BOOTH MACDONALD, LTD.

Sun (Auckland), Volume III, Issue 685, 10 June 1929, Page 10

BOOTH MACDONALD, LTD.

GREATER INTEREST IN SHARES RECOVERY OF THREE YEARS

By '

"NOON CALL"

During the past month or so the attention of speculative interests has been directed toward both issues of Booth, Macdonald, Ltd. After a period of heavy losses, and the writing down of capital, this company appears to have become established on a basis which gives its shares a certain attraction. For many months Booth, Macdonald, shares were practically valueless on ’Change. Since the publication of the balance-sheet for the year ended December, 1928, however, showing a profit of £4,944 after deducting £7,800 for interest on debentures —a real increase over the showing of the previous year of £ 8,344 —speculative interests have come on the market, and the ordinary shares have been dealt with up to as high as Is 3d. Steady buyers of the preference issue at 3s 6d have failed to attract a declaration from sellers. In the reconstruction of the company over the 1927 period the ordinary shares were written down a further 7s 6d to 2s 6d. The rights of the preference shareholders were not interfered with, however, and these continue to stand at a par value of 20s in the company’s books, having first say on a dividend up to 52s per cent. According to the last balance-sheet the companv now has a nominal capital of £186,893 15s, made up of ordinary shares fully paid at 2s 6d, each aggregating £10,356 5s and £1 paid preference shares to the value of £176.163. Before the shareholders can participate in the profits, however, 6* per cent, has to be found for debentures shown at £120,000. After allowing for provision for de-benture-holders, assets shown on the 1928 balance-sheet -were approximately 21s 6d per £1 fully-paid preference share. At the price offered on the open market at the moment, therefore, they have a certain speculative attraction. If the company maintains the rate of progress shown over the past two years the ordinaries should also be worth watching. During the year 1926 the company made a loss of £25,028; by the end of 1927 losses had been cut down to £3,400; at the end of 1928 the profit and loss account showed a profit of £4,944 —a direct recovery of approximately £29,962 over a period of three years. , As a result of the company s policy of writing down ordinary shareholders’ capital, the profit of 1928 more than met the loss of 1927. and 19.-9 was ushered in with a profit of £-,ol© to be carried forward to help swell future dividends, that is, if the companv can hold its present position, and there is every reason to believe that U in'view of the fact that the shares are once more given daily quotation on ’Change, the above figures make interesting reading. LONDON MEAT MARKET SMITHFIELD QUOTATIONS The New Zealand Meat Producers' Board has received the following eabieeram from its London office, dated June 7, advising Smithfield delivered prices averaged for the week ended that date as follow: , _ , r ~ New Zealand Wethers and Maidens.— Canterbury quality, selected brands, 561 b and under, 7d a lb; 571 b to 641 b. 6d; 651 b to 721 b, 5Td. Other brands, 561 b and under. 6 7-Sd; 571 b to 641 b, 5 7-Sd; 651 b to 721 b, s£d. New Zealand Ewes.—64lb and under, sd. New Zealand Lambs. —Canterbury quality, 361 b and under, !Ud; 371 b to 421 b, 8 7-Sd: 431 b to 501 b. 8 1-Sd; seconds, S 7-Bd. Selected brands, 561 b and under, Did: 371 bto 421 b, S?d. Other brands, first quail tv, 361 b and under, 93d; 571 b to 421 b, 8 5-8 d; second quality, 301 b to 321 b average, 9 1-Sd. _ Australian Lambs.—Victorian. first quality, 361 b and under, Sgd; 371 bto 421 b. 8 1 -Bd. Argentine Lambs. —First quality, 361 b and under, Sd; 371 b to 421 b, 7td. Argentine Chilled Beef. —Ox fores, 4 5-Sd; hinds, 63d. New Zealand Frozen Pork.—Porkers, 601 b to 801 b, Sid; 811 b to 991 b. Sid; 1001 b to 1201 b, Sid; baconers, 1211 bto 1801 b, Sid. Lamb Market.—Consumption is improving. Prices remain unaltered. Tho market is firm. Mutton Market.—Unchanged and trade very slow. New Zealand Porker Pigs.—Small trade. Nominal prices. New Zealand Bacon er Pigs.—Market quiet. LONDON MARKET REPORTS (Australian and N.Z. Press Association) LONDON, Saturday. Sheep.—Argentine, light, s£d; medium, 43d; Patagonian, light, 53d: ewes, sd. Lambs.—Canterbury, light, 9ld; Victorian, seconds, none offering; Patagonian, light, B£d; medium, 7 7~Bd. Chilled Beef.—Argentine fores, 4 5-Sd: hinds, 63d; others unchanged. COTTON, RUBBER, JUTE, ETC. (Last week's prices in parentheses.) Cotton. —July delivery, 10.03 d (9.54 d) a lb. Rubber.—Para, 13d a lb: plantation and smoked, 10 11-16 d (9.97 d) a lb. .Jute.—June-July shipments, £29 (£3O 2s) a ton. Copra.—June-July shipments, £l9 10s (£l9 15s) a ton. Linseed Oil.—£2B 17s 6d (£2B 12s 6d) a ton. Turpentine.—43s 9d (44s 6d) a cwt.

SEA-LOVING WOMEN

WANT WORK ON LINERS Modern women hear the call of the sea just as do their adventurous brothers, judged by shipping companies’ long waiting lists of women seeking jobs on ocean liners. Hundreds of applicants for positions as stewardesses, conductoresses, nurses, manicurist, hairdresser and shop attendants on shipboard preseut themselves to shipping companies weekly. Many of them are women of good birth and education, who cannot afford world tours and therefore are willing to work their way in order to travel. Shipping officials point out that shipboard jobs are so strenuous and exacting that there is no chance for the woman who takes them as a means of cheap travel getting to see much of the world while she is working on a liner.