MARKET ON ’CHANGE

Sun (Auckland), Volume III, Issue 918, 11 March 1930, Page 10

MARKET ON ’CHANGE

By “Noon Cali.’' THE further increase in the Australian exchange rates, with everything pointing to a corresponding increase in New Zealand, is another move in Ibe process of reconstruction and the movement back to healthier financial conditions. It is hardly likely that it will affect the investment market as the position is so had now that it would be hard to make it much worse without having an absolutely demoralising effect. Prices continue irregular and trading is confined to within a very small compass.

Fluctuations Price movements, shown by a comparison of sales on the Auckland market over the past 24 hours with the price at the time of the previous recorded sale, include:— Bank of New Zealand, fall of 3d. New Zealand Insurance, rise of 3d. Commercial Bank of Australia, fall of 2d. Mount Lyell Mining, fall of Is. Moanataiari Mining, rise of Id. Grey Valley Collieries, fall of 2d. Business on the Auckland Market Transactions on the Auckland market over the past 24 hours included the following:: Yesterday afternoon. —Mount Lyell Mining, 325; Commercial Bank of Australia. 21s lid; Auckland Harbour Board. 1945, 5§ per cent., £IOO 10s. At this morning’s early call. —New Zealand Insurance, 445; Commercial Rank of Australia. 21s lid; Moanataiari Mining, 2s 3d. At midday.—Commercial Bank of Australia, 21s 9d; Bank of New Zealand. 56s 9d; Grey Valley, 26s 7d; Moanataiari Mining, 2s 3d. • * » Market at Midday Further price declines made the biggest feature of movement registered at midday. Commercial Bank of Australia, which. moved up Id on Saturday’s market, yesterday dropped back 2d at midday. Other bank shares showed a weakening tendency. Insurances are steadily with N.Z.’s, the only shares attaining more than nominal notice. Loan and agency shares are neglected. In the mining group Moanataiaris ;»re attracting a certain amount of attention and sales have taken place at up to 2s 3d; the market was a little easier at midday. Kempthorne Prosser Balance Sheet A net profit of £71,909 is shown in the annual report and balance sheet of Kempthorne, Prosser and Company’s New Zealand Drug Co., Ltd., for the year ended January 31, 1930; this works out at approximately 12.3 per cent, of the paid-up capital of the company. The usual 10 per cent, will go to shareholders:. £IO,OOO is to be added to general reserves, and £3,500 placed .to the credit of the staff provident fund. A balance of £26,631 at: profit and loss is to be carried forward. The company’s progress over the

TO-DAY’S QUOTATIONS

past four years is shown in the following table: 1027. 1928. 1929. 1930 Gross profits 163,725 177,159 199,319 20,265 Net profits 57,134 56,642 72,810 71,909 Dividend p.c. 10 10 10 10 Do, amount 48,299 52,638 52,974 48,294 Reserves 167,537 168,541 184,877 141,991 During 1929 the company celebrated Its jubilee year by handing out a bonus issue of £53,000 to shareholders. H uddart-Parker Progress A net profit of £124,659 is shown in the annual report of Huddart-Parker, Limited, for the year ended December 31 last; this works out at approximately 9.9 per cent, of the paid-up capital of the company. Progress over the past three years is shown in the following table: 1927. 1928. 1929. Brought for’d £IB,BBB £19,017 £29,463 Net profit .. 143,006 124,457 124,658 £161,894 £143,474 £154,121 To reserve .. 7,877 9,011 10,000 Dividends— Pref., 6 p.o. 30,000 30,000 30,000 Ord. p.c. ... 14 10 10 Amount .. 105,000 75,000 75,000 Carried for’d £19,017 £29,463 £39,121 The company’s capital is £1,250,000 and the reserve fund now stands at £400,000. The insurance fund has been increased to £301,679 and the reserve for contingencies, taxation, repairs, etc., to £408,047. Steamships, plant, properties and shares in other companies are shown at* £1,434,815, an increase during the year of £255,506, while debentures and other investments have declined by £133,869 to £1,208,437. * * * Mine Managers’ Reports Mine managers report as follow: Alburnia.—Satisfactory progress is being made with the development work, and in two sections colours of gold have been seen in the ore. * * * Dividends Payable Due. Huddart-Parker, final, ord., 5 p.c., pref 3 p.c. Mar. 15 Amalgamated Wireless (Australasia)—interim, 8 p.c. p.a Mar. 24 Dunlop Perdriau—interim, cum Pref.. 5 p.c., ord, 3 p.c Mar. 28 British Tobacco—interim, p.c. .. Mar, 31 Hume Pipe Co. (Aus.)—interim, 4 p.c. .. Mar. 31 Kempthorne-Prosser Drug Co. — final, 54 p.c Mar. C. L. Innes—interim, pref., 4 p.c. Mar. 31 Booth-Macdonald and C 0.—24 p.c. pref Mar. Bank of Australasia—final, 7 p.c. Apl. 4 Milne and Choyce, Utd.—interim, ord., pref. and deb. stk., 8 p.c. p.a Apl. 10

Closing Quotations at today’s midday call were:—

HIT AT NEW ZEALAND CANADIAN TARIFF FORECAST Kecd. 9.40 a.m. OTTAWA, Monday. Higher duties on New Zealand butler and eggs are regarded as assured under a new treaty to be negotiated by the National Dairy Council. Recommendations at the Tariff Board hearing are understood to have won the approval of that body. The Budget is likely to include increased British preference on a number of commodities, with more rigid regulations as to the British origin of materials used, as was recently demanded regarding British cotton goods. EVILS OF BUTTER BLENDS LONDON, Monday. “The Times in a leader denounces the blending of butter as a deception. I - : emphasises the excellence of New Zealand -ml Australian butter and t high standard of dairy inspection i:i the Dominies. Ife T Paper says the public should IK J-e protected from buying blended butter under a. l'also name.

STUD ROMNEY SALE Dalgety and Company, Limited, in conjunction with New Zealand Loan and Mercantile Agency Company, report having held a dispersal sale of Messrs. Voss Bros.’, Karare, Romney flock at Palmerston North Showgrounds on Tuesday last. The flock consisted of 1,000 registered flock ewes, beside stud rams and stud ewes. The stud rams sold at up to 75 guineas, and single entry ewes made up to 14 guineas. Flock ewes to 7 guineas. Mr. Togo Johnstone, of Whatawhata, secured some sixty of the flock of good quality ewes, which should be an acquisition to the district.

Buyers. Sellers. £ 8. cL £ s. d. BANKS—• Aust. of Commerce 1 4 G 1 5 6 Australasia 12 0 ‘ *oni. o fAustralia , 1 1 X l 1 10 Ditto (pref.) .. . b 0 G 13 0 Eng., Sco. & Aust. G b 0 fi 10 0 National of N.Z. . . 5 lb 0 G 1 0 Nat. of Australasia 14 IV 0 Ditto (con.) .. .. 7 8 0 New South Wales . 39 15 0 40 5 0 New Zealand . . - . 2 1G 9 17 0 Ditto, D. Mort. . l b G Union of Australia 11 19 0 12 1 6 INSURANCE— 0 7 3 Ne v Zealand .. 3 6 4 3 Queensland — 12 0 South British .. .. 3 0 0 8 1 0 Standard — 8 0 6 LOAN AND AGENCY— Dalgety and Co. 11 0 0 11 15 0 Dom. Invest. Bank . 1 0 3 Farmers’ Co-op. 4 1 0 Ditto (A pref.) .. 0 17 0 Ditto (B pref. > .. 0 1G 0 0 17 3 < toldsbrough, Mort . 1 10 8 1 11 G Newton King (pref.) 0 11 0 0 13 0 N.Z. and River Plato 1 10 0 N.Z. Doan Merc. 9S 0 0 102 0 0 N. Auck. Farmers’ Co-op., B (pref.) 0 7 6 0 11 0 COAL— llikurangi 0 1 6 0 2 3 Ditto (pref.) .. « 4 0 Ditto A (pref.) 0 3 0 0 0 Pukemiro .. .. ■ .. 3 8 0 3 11 0 Renown . . o 14 o 10 0 Ditto (pref.) .. .. 0 0 0 3 4 Ditto (new issue) . 0 3 2 Taupiri 1 X 0 Waipa 0 14 0 Westport 1 9 6 1 U 0 ~\V estport-Stockton 0 2 3 Ditto (pref.) .. .. — 0 3 G GAS — Auckland 1 r. 6 1 3 9 Ditto (con.) ., .. 0 LG n 17 0 Birkenhead 0 3 0 0 0 13 0 Ditto (pref.) .. 0 12 0 0 17 6 BH1PPINQ— Devonport Steam .. l 4 0 Devonport Steam .. — IX G Northern Steam 0 13 10 0 14 3 Ditto (con. > . . . . n G 0 0 7 0 Union Steam (pref.) l 0 0 — TIMBER— Bartholomew t 1 8 Kauri Timber .. .. o 18 0 0 15 0 National 0 8 3 0 9 6 BREWERIES— C. L. Innea 1 1 0 Ditto (pref.) .. .. 1 1 G — N.Z. Breweries .. .. 4 0 0 4 0 •T. Staples — 2 9 0 MISCELLAN EOUS— Australian Glass . . 2 1 0 Booth, Macdonald (pref.) 0 6 0

Buyers. Sellers. British Tobacco 2 1 6 2 2 6 Bycroft ,Ltd 1 11 6 1 16 0 Colonial Sugar 43 10 0 Dom. Pictures 1 0 0 — Ditto (pref.) .. .. 1 0 0 — Dunlop Perdria' 0 18 Electrolytic Zino 1 6 1 Ditto (pref.) .. .. 1 h 6 1 6 6 Farmers’ Trading . 0 8 0 9 0 Ditto A (pref.) .. 0 14 0 0 17 6 Ditto R (pref.) .. 0 13 0 Dear Meat 1 17 6 1 18 6 Hayward’s Pictures 0 16 6 Henry Jones .. .. 1 8 9 Kempthorne-Prosser 3 Milne and Choyce deb. stock 1 6 9 1 9 Morris Hedstrom (pref.) 0 18 0 N.Z. Farmers’ Fert. 1 N.Z. Paper Mills . 1 0 3 N.Z. Refrig 0 11 0 Ditto, (con.) .. .. 0 5 4 Sanford, Ltd 0 15 0 Ditto (pref.) .. .. 1 0 0 Sharland and Co. . 1 1 Ditto (pref.) .. .. 1 0 0 0 4 6 0 9 0 Union Oil 1 0 Wairakei, Ltd 0 6 6 0 10 0 Whittome Stevensons 0 6 Wilsons Cement 1 18 6 1 19 6 MINING— Alburnia — 0 0 5 Moanataiari (paid) . 0 2 2 0 3, Ditto (2s 4d pd.) . 0 1. 6 Ditto (Is 6d pd.> 0 1 3 0 1 9 Kawarau 0 0 24 0 0 6 Lucky Shot (4s pd.) 0 6 Ditto (con.) .. .. 0 1 0 Ohinemuri (ord.) .. 0 2 0 Ditto (pref.) .. .. 0 6 Waihi 0 13 6 0 13 9 Waihi Grand June. 0 1 2 0 1 6 Mount Lyell .. .. 1 12 1 1 12 8 DEBENTURES— Auckland Gas, 1935 6i per cent ion 0 0 Ditto, 6 p.c 10 L n 0 Hamilton Fire Board. 1939, 6 p.c 102 0 0 Borough Mt. Albert. 1963, 52 p c 101 0 0 Booth Macdonald . . 90 0 0 Kikurangi Coal 99 n 0 105 0 0 Williamson’s Films . J 02 0 0 Gisborne Sheepfarmers — 93 0 0 GOVERNMENT BONDS War Loan. 193S, 4} 97 10 0 — Ditto, 1939, 4* p.c. 9 < to 0 — Ditto, 1941. 44 p.c. 97 10 0 Ditto., 1933, p.c. 99 0 0 99 6 Ditto, 1936. 5i p.c. 99 0 0 — INSCRIBED STOCK War Loan. 193S, 4.} 97 5 0 98 10 0 Ditto., 1939, Ah p.c. 97 5 0 Ditto., 1927-41, 5i 96 0 0 Ditto, 1933, 5£ p.c. 99 0 Ditto, 1936, 51 p.c. 99 2 6 99 10 0