FINANCE & MARKETS

Sun (Auckland), Volume IV, Issue 1060, 26 August 1930, Page 11

FINANCE & MARKETS

Australian Stocks Easier Market on ’Change By “Noon Call” INCREASED business lias been recorded oil ’Change over the past 24 hours. The influence of Sir Otto Niemeyer’s report on Australian finances is recorded by several falls in the price at which Australian shares have changed hands.

ri [JCTUATiONS— 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 of Australia, fall of 2d. Dalgety and Company, fall of Bs. New Zealand Breweries, fall of 3d. Bank of New Zealand, fall of 2d. J. Staples, fall of 3d. Business on Auckland Market Transactions on the Auckland market over the past 24 hours have included the following:: Yesterday afternoon:—New Zealand Inscribed Stock. 1033. 5J per cent.. £O9 ss; .Bank of New Zealand. 55s 9d; Dalgetv and Company, £ 9 14s; Taranaki Oil. 2s 4d. At this morning's 10 o’clock call: Waihi Miningr. 3 4s 4d; Commercial Bank of Australia. 19s lid; Dalgety and Company. £9 14s: Auckland Gas, 24 s. At midday.—Bank of New Zealand. 55s 9d: New Zealand Insurance. 425: New Zealand Breweries, 50s 6d; ' J. Staples. 43s 9d: Auckland Gas, 1932, 5 per cent., £96 10s. Market at Midday Although a comparatively heavy volume of business was recorded at midday, the market had an all-round weaker tone. Sellers predominated. The banking group was particularly depressed, most buyers* quotations being only nominal. Even New Zealands suffered. * • * Ratrut Tin Losses Operations of Ratrut Basin Tin Dredging Company, N.L.. during 1929, resulted in a loss of £5,232 and the total debit balance carried forward is j £18,665. Mine revenue amounted to £67,661. | and expenditure, including £II,OOO written off dredges and £7,31.0 allowed ! for depreciation of plant, etc., was ! £59,535. With £122 from sundry reve- [ nue there was a working profit of* £8,248, but payment of head office ex- ! ponses. £2.837, and debenture interest, j £10,643, left the unfavourable net ' balance stated. Commenting on the tin restriction plans, the report states that the financial position of the company left the board no choice in the mattey

of its decision to carry on operations. Debenture holders have agreed to a postponement until April 2, 1935, of the repayment of 14,000 debentures of £1 each, which fell due on April 2. 1930, and until October 2. 1931, of repayment of 14,000 £1 debentures, which will mature on April 2, 1331. Moanataiari Mining Company The manager of the Moanataiari Gold Mining Company reports:—During the week we have continued the drive on the No. 1 reef south and have reached the footwall. The “horse” of mullock is getting smaller and the reef will soon be together again. Gold is still seen in the leader and the footwall quartz is carrying nice minerals and a little zinc blende. As the roof got heavy we had to timber and not much quartz has been broken for the week. A parcel of one ton of ore from the leader and the footwall portion of the reef was crushed for a return of 2oz 14dwt of amalgam. We intend to put a bulk parcel from this reef through the mill when we have sufficient broken. J. Wiseman and Sons’ Year The directors of J. Wiseman and Sons, Ltd., Albert Street, in the 28th annual report and balance sheet to be presented at the annual meeting of shareholders on September 2, state that a loss is again shown on the year’s trading. The profit and loss account for the year ended .Tune 30 shows a net loss of £2,991. The directors state that depreciation on plant and equipment ajrd provision for bad and doubtful debts accounts for £1,778 of the net loss. The paid-up capital of the company is £47,374. Notice is given that an extraordinary general meeting will be held on September 2 to consider the following motion: “That it has been proved to the satisfaction cf this meeting that the company cannot, by reason of its liabilities, continue its business, and that it is advisable to wind up the same, and accordingly that the company be wound up voluntarily.” * • * Dividends Due Bank of New South Wales—quarterly, 21 p.c Aug. 27. Electrolytic Zinc—ord. and Dref final 4 p.c Sept. 4 Standard Insurance—final, Is 3d a share Sep. 9. Holden's Motors—final, ord., 6d a share; pref., 8 p.c. P-a Sept. 10.