CAPITAL REDUCED
AUSTRALIAN PAPER FIRM (Australian and X.Z. Press Association) Reed. 9 a.m. SYDNEY. Today. Australian Paper Manufacturers, Ltd., have decided to reduce their capital by £320.000, to £1,280,000, in order to extinguish intangible assets and wipe off losses resulting from the Lane Cove mills fire last October. Preference capital in constitutent companies is unaffected, but it is anticipated that this pruning of dead wood will enable an earlier payment of normal dividends. LONDON MARKET REPORTS LONDON, Saturday. Sheep.—Canterbury. medium, 6 1-Sd; heavy, aid; Argentine, medium. 4 7-Sd; heavy, 4 3d. Lambs.—Argentine. firsts, light, Sid; seconds, Sd; I*atogonlan, firsts. light S 3-Bd. Frozen Beef.—Australian hinds, 5 9-16 d. Chilled Beef.—Argentine hinds. 72d: others unchanged. COTTON. RUBBER. HEMP, ETC. (Last week's prices in parentheses.) Cotton.—July delivery, 9.01 d (9.92 d) a lb. Rubber.—Para, lid (10Jd> a lb; plantation and smoked. lOfd (10 3-8 d) a lb. Jute.—July-August shipments. £3O (June-July, £29 15s) a ton; new crop, Aueust-September shipments, £3l a ton. Hemp.—flood. fair. June-July shipments, £34 10s a ton (not quoted). Copra.—July-August shipments. £2O (June-July. £l9 12s) a ton. Linseed Oil. —Nominal, £3O (£29 ss) a ton. Turpentine.—44s 9d (44s 9d) a cwt. MINING NEWS LUCKY SHOT.—The manager reports: ' The low level crosscut has been extended 20ft for the week. The country rock penetrated is all that could be desired for gold-bearing reefs. During the week another small leader about Jin wide was passed through showing very favourable mineral indications.’*
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Bibliographic details
Sun (Auckland), Volume III, Issue 703, 1 July 1929, Page 10
Word Count
239CAPITAL REDUCED Sun (Auckland), Volume III, Issue 703, 1 July 1929, Page 10
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