A Healthy Tone

Sun (Auckland), Volume IV, Issue 1068, 4 September 1930, Page 11

A Healthy Tone

Market on ’Change By “Noon Call.’ 1 ALTHOUGH only a comparatively small volume of business has been recorded on ’Change over the past 24 hours, the market has a healthier tone than that of a week ago. There is a steady demand for sound securities.

ci Iir.TUATIONS 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: — South British Insurance, rise or Bank of Australia, fall of Paddy’s Point, rise of 2d. * * * Business On Auckland Market ! Transactions recorded on the Auckland market over the past 2 4 hours I included: Yesterday afternoon.—Paddy’s Point, ts Hd: Wilsons Cement, 40s; South British Insurance, 57s fid; Commercial Bank of Australia, l?s Sd (two parcels). 1 At this morning’s early call.—Dominion Investment, 20s: Commercial Bank of Australia. 10s 7id. I Market at Midday | Little movement was recorded in i the market this morning, although ~J there is a generally firmer tone than a week ago. i Sellers of bank shares are well sup- | ported on the low levels, but little > actual business is recorded in the section. Pastoral company shares are practically neglected. Coals also continue very weak. In the mining group Waihis are a Jittle firmer, and with nominal buyers pt 14s 3d. sellers did not make an appearance this morning. ► Business Sense" Mr. William H. Ross, chairman of | fiie Distillers Company. Ltd., said at the annual meeting of the company at j Edinburgh recently, that the leading ! feature of the directors’ policy during 1

the past year could be summed up in the word “rationalisation.” He continued : •This as applied to Industry means common sense in one’s business methods. That may he variously antilled either by amalgamation, eentraiidirection where costs can he reduced either in manufacture or distribution, or where other economies can bo effected. “Our policy must continue to bo guided by the slogan, ’Rationalise, organise, advertise.’ ” * * * Broken Hill Profits Decline 111 disclosing a net profit of £161,889 for the year ended May 31, representing a fall of over 50 per cent., the directors of the Broken Hill Proprietary Co., Ltd., declare that the disabilities under which operations at the steel works were carried on owing to the almost complete stoppage of coal supplies at Newcastle, together with adverse conditions at Broken Hill, militated against a better figure, and in the circumstances they consider the result satisfactory. Depreciation provided before arriving at the profit was £356,695. compared with £417.592 in the previous year. No dividend was paid during the period, and adding £324,672 brought forward, the amount at credit of appropriation account is Nor some years a dividend of 10 per cent, had been paid. Dividends Due Electrolytic Zinc—ord. and pref., final, 4 p.c. Sept 6 Kaiapoi Woollen Co.—pref., 6 P.c., ord. 4 p.c sept. G. Standard Insurance—final. Is 3d a share Sept. 9. Holden’s Motors—final, ord., Sd a share; pref.. 8 p.c. pa Sept. 10. Kempthorne and Prosser—interim, 4 p.c About Sept. 20. Lank of Australasia, interim, 14 p.c. p,a Oct. 3.