FINANCE & MARKETS Restricted Trading

Sun (Auckland), Volume IV, Issue 1051, 15 August 1930, Page 11

FINANCE & MARKETS

Restricted Trading

Market on ’Change

B y

“Noon Call.”

A REACTION to the improved trading of the mid-week lias set in on ’Change. Business has again slumped to within an almost negligible compass.

pnf.TUATIONS Price movements shown by a rtmnarison of sales ever the past 24 hours with the price at the , ime of the previous recorded sale, include: Commercial Bank of Australia (pref.). fa" of 6d ’ Business on the Auckland Market Transactions on the Auckland marset over the past 24 hours have into tO Sr-Wa,i Minif 1 Rank of New Zealand. Sos lid. M At mid-daty: Northern Steam. 14s Sd. , . * Market at Mid-day nnlv one sale was put through at the mid-day call. Sellers of bank shares are well supported, but there is little life in the market. In the insurance section a wider range of shares are sought, but there is a fair margin between buyers’ and sellers' ideas of value, and practically no business is being transacted. V buyer of Westport Stockton Collieries came in this morning with the nominal offer of ild. and sellers dropped their quotations slightly, but at midilav the buying quota was withdrawn and sellers moved back to -s. Kauri Timbers have a buyer at 12s ■Hi Dunlop-Ferdriau, which have been neglected for a long period, drew a buyer this morning at 13s 3d. Taranaki Oils are very weak with sellers unsupported at 2s 9d. The gilt-edge market remains very firm With buyers predominating.

Taxi-cab Losses A loss of £8.399 was'sustained for the year ended June 30 by Yellow I dabs' (Sydney). To this must lie | added £ 2.300 loss on realisation oft assets. Capital is £300,914. liabilities: total £5.320, and assets comprise cash j £202, bank £763. investments £52.172.

bills receivable £1.928, freehold £ 129,616, cabs £ 1 1 0.1 43. stores £10,169, equipment £3,345. supplies £15,643, prepayments £3,320, and goodwill. During the year mileage and revenue showed considerable shrinkage, which caused the year’s loss. A loss of £2,643 was sustained during the year ended May 31 by Red and Checker Cabs, Ltd. (Sydney), this increasing the deficit to £44,942. Capital is £160,000. liabilities total £29.956, and assets comprise freehold £38,235. cabs and equipment £82,733, supplies £3,375, prepayments £1.56!), debtors £473, cash £l5O, and goodwill £ 18,473. The loss is £9,044 less than that of the previous year, clue to better working conditions having been arranged, and to savings effected in connection with the supply of tyres. New Capital for Woolworths, Ltd. The nominal capital of Woolworths. Limited, Sydney, is to be increased from £150.000 to £1.000.000. by the creation of 50,000 cumulative preference shares and 800,000 ordinary shares of £1 each. The preference shares arc to be offered nt par to holders of preference shares in proportion of their holdings. Woolworths. Limited, started business in Sydney on December 5, 1924. It now controls seven branches in Sydney and suburbs, and three in Queensland, and holds controlling interests in two companies' in Western Australia and four in New Zealand. The company intends to commence operations in Melbourne at an early date and negotiations have been practically completed for the lease of the Theatre I*oyal building in that city. Since July of iast year 12 new establishments have been set up by the company and iUs subsidiaries and the expansion has necessitated the introduction of more capital.

Dividends Oue Cirey & Menzies —annual. S p.c. Aug. 21. Victoria Nyanza Sugar—lnterim, 7$ P-c „ -- •• Aug. 20. Bank of New South Wales—quarterly, 2i p.c. .. .. Aug. 27. Electrolytic Zinc—ord. and oref. final 4 d.c - • Sept. * Standard Insurance —final, Is 3d a share Sep. 9.