Steady Volume of Business

Sun (Auckland), Volume IV, Issue 937, 2 April 1930, Page 11

Steady Volume of Business

Banks Sell Freely THE market is decidedly brighter and more business is being transacted. Hanks continue to change hands freelv and improvements are noticed in this section.

Business on the Auckland Market Transactions on the Auckland market over the past 24 hours included:—• Yesterday afternoon. - Commercial Bank, £1 2s 2d; Huddart-Parker, JEI; Bay of Plenty Power Board, 5 i per cent,, ill 9, At the morning early call.—Auckland Gas, £1 3s 8d; British Tobacco, £2 Is 6d. At the midday call. —Commercial Bank. £1 2s 2d; Bank of Xew Zealand, £2 17s 3d; New Zealand Insurance, £2 8s 9d; Auckland Gas (contg.), 17s Id; British Tobacco, £2 Is 6d; New Zealand Paper Mills, £l. Market at Midday The insurance section is active and sales are continually being reported. Australian Provincial have buyers at 6s. National are again supported with buyers 14s, sellers 14s 6d. New Zealand are selling freely at 43s 9d. South British are unchanged. Auckland Gas are firm with buyers 23s 7d, sellers 23s Bd, and sales reported at 23s 8d; the contributing issue remains steady with sales 17s Id. Shipping is somewhat active. Devon7>ort Ferry are stationary. Howard Smith are inclined to improve a shade. Huddart-Parker have persistent buyers at 355, the preferential issue are steady at 20s. Northern Steam, both issues are in demand. P. and O have improved to buyers 4Ss Gd. Union Steam are also steady. * * * Metters (N.Z.) Profits A net profit of £5,002 is shown in the annual report of Metters (N.Z.), Limited; this has been applied to the

reduction of the debit balance, ! £16,072, in the profit and loss account, ! brought forward from the previous j year. A subsidiary of Metters, Ltd., Australia, the company was formed to acquire the factory at Petone established by Standard Porcelains (N.Z.), Ltd., and commenced operations in November, 3927. The first report disclosed a loss of £21,200, including £2,874 written off goodwill and establishment account, the latter being reduced to £11,406, at which it appears in the latest balance sheet. Other assets are:—Land, buildings and roadways, £35,482; plant and machinery, £10,274; sundry debtors, £7,142; stocks and stores, £11,016; cash. £3.428. The paid-up capital is £96,950, the other liabilities being £1,868. The directors state that the sales for the year show a satisfactory increase over last year’s figures, but the company’s plant is capable of supplying a larger proportion of the Dominion’s trade in cast-iron enamelled baths. The company is meeting with very keen competition from overseas, and further reductions in sale prices have had to be met.

• . , Dividends Payable Bank of Australasia—final, 7 p.c. Howard Smith, Ltd.—interim, ApL 4 cum. pref., 6 p.c., p.a Apl. 6 Kempt home-Prosser Drug Co.— final, 5i p.c A pi. 8 ord.. pref. and deb. stk., 8 p.c. P.a New Zealand Breweries—interim Apl. 10 14