Increased Trading

Sun (Auckland), Volume IV, Issue 1056, 21 August 1930, Page 11

Increased Trading

Market on ’Change

.By

“Noon Call.”

MORE business is being reei range of securities is bein i ir.Tu at io n s price movements, shown by a comparison of sales over the past 24 hours with the price at the time of the previous recorded sale, include: — Commercial Bank, fall of Id. Business on Auckland Market Transactions on the Auckland market over the cluded: — , Yesterday afternoon: Australian Bank of Commerce, 21s lid; Taupiri - oal, 275: Colonial Sugar, .£3B ss; Thames Theatre, 12s 3d; Wilsons Cement, £2. At this mornings early call: Commercial Bank of Australia, 20s 3d; Taupiri Coal. 275: Phillips and Impey, ,:js 6d; Wilsons Cement, 40s. At midday.—X.Z. Guarantee Corporation, 7s 9d and 7s Sd: N.Z. Breweries, ils. Wes': Coast Coal It is authentically reported, states •he “Dominion,” that a strong seam oi coal has been discovered on the property of the United Brunner Coal Mines. Ltd., about seven miles from ireymouth. A New Zealand company vas floated last April to take over and work the old Brunner and adjoining North Brunner areas, and prospecting jpemtions since that date have uncovered the Brunner seam lying within six feet of the surface, and widening out beyond lift. The discovery is regarded as an important one in relation to the coal resources of the West Coast. Texes Take All Figures produced at the annual meeting of Morts Dock and Engineerng Co.. Ltd. (Sjdney). showed that while the year’s operations provided no dividend for the shareholders, the ax gatherers have done very well out •f the business indeed. Sir Kelso King, chairman of the ‘Oinpany, referred to tho net earnings left to the company after having met rates and taxes, as a “small return.” The industry, he added, in the year ended June 30, had “only succeeded in earning sufficient to pay rates to the Municipal Council, and taxation on the previous year’s profits to the Commonwealth and State Governments. These totalled £18,868, and only £793

l'ded on Change and a wider ? dealt in. 1 4d remained to be added to the balance carried forward. Shareholders received no dividend; i>ut the company paid out of its gross revenue: £ , f dera J taxes—land and income 4.2G7 State taxes .» 44 Family endowment-tax .. .. n’iioo Municipal rates i. j’JSS W a ter rates 'onn Harbour Trust charges .. .. 1S«) | items included in total £18,373 | In the previous year the sum simimrly absorbed was stated at £ 14,34;*. I Mark et Influenced by Australian Position - J rh . e rather disturbing reports regardAustralia’s difficulties in squaring ip hoi finances and at tho same time meeting her regular commitments have had a weakening effect on Australian stocks quoted on the New Zealand list. Several further declines have taken place. Electrolytic Zincs have dropped to see tho ordinaries offered at 18s 6d without drawing a bhyer. Mount Eyelis are weaker; sellers of Ausir<?n^,n <T ‘ ass . ai 'G riot supported. iho banking group is quiet, with most shares meeting with a steady demand. Increased buying strength in the V ed^e market for Government free-of-income-tax stocks has sent the market up to levels which brings the return clown to under per cent. Grey and Menzies, Ltd. The annual report and balance sheet of drey and Menzies, Limited, for the year ended June 30, in which a dividend of S per cent, was recommended, was adopted at tho annual meeting of shareholders held yesterday, the chairman, Mr. A. B. Roberton, presiding. the retiring directors, Messrs. A. B. Roberton and Eddowes, were reelected. Messrs. Wallace, Bruce and UuthiQ were reappointed auditors. Dividends bue Groy & Menzies— annual, S p.c. Aus: 21 Victoria Nyanza Sugar—lnterim. 7J p.c a vk Bank of New South Wales— ' quarterly, 2* p.c Aug. 27 Electrolytic Zinc—ord. and oref final 4 d.c Sent 4 Standard Insurance—final, Is od a share Sen 0 Holden’s Motors—final, ord.,'' ' 6d a share; pref., 8 p.c. p - a * Sept. 10.