A Further Fall

Sun (Auckland), Volume IV, Issue 1070, 6 September 1930, Page 11

A Further Fall

Australian Securities Lower THK market closed ior the week this morning. A further lall in the general level of Australian securities has been noted. Gilt-edged securities continue to be in firm demand.

PLUCTUATIONSPricc movements, shown by a comparison of sales over the past 24 hours with the price at the time of the previous recorded rise, include:— E. S. and A. Bank, rise of 3d. National Bank of New Zealand, rise of 6d. Business on Auckland Market Transactions on the Auckland market over the past 24 hours have included: — Yesterday afternoon:—South British Insurance, 57s 9d; Taranaki Oil, 2s. This morning::—English. Scottish and Australian Bank. £5 12s 9d: National Bank of New Zealand, £5 14s Ud; Australian Glass, 265. * * * Further Fall in Australian Shares A further fall in the general level of the market for Australian securities has followed the talk of the extreme labour element in Australia regarding their Intentions in the direction of resisting- wage cuts and working for same reduction in the amount of money going overseas as interest on foreign loans. The industrial group is suffering most. The market for Bank of New Zealand shares is very firm, providing one of the few bright spots to the market at the moment. Gilt-edge securities continue to meet with a very firm demand. Kuala Kampar Tin Kuala Kampar Tin Fields. Ltd., reports a net profit of £62,104 for the year to March 31, and with the balance brought in from the previous period, had £99,145 for appropriation. Three dividends totalling lid a share

r were paid, accounting for £53 025 \ transfer of £20,000 was made’to reserves, and £25,520 has been carried forward. The dredge which sank last year was covered by insurance. Tt is to l>o replaced by an electrically driven dredge with a monthly capacity of three million cubic yards. Milburn Lime and Cement The annual report of the Milburn Liirno and Cement Company, Limited, I states that the profit and loss account, after writing off depreciation and making provision for income-tax lor the current year, shows a credit balance of £23,752. This includes the sum of £ 1,548 carried forward from last year. An interim dividend has been paid for the six months ended ; January 31 at the rate of per cent. I per annum, amounting to £7.500. This leaves a balance of £16,252 to be dealt with. The directors recommend that this balance should be appropriated as fol-lows:—-To add to employees’ provident fund, £500; payment to the company s sick and accident benefit society, £250; payment of dividend for the six months ended July 31, at the rate of 6J per cent., making to per cent, for the year, £12,500; balance to be carried forward to next vear £3.002. ■ y ’ Dividends Due Electrolytic Zinc—ord. and pref., final, 4 p.c Sent 6 Kalapol Woollen Co.—pref., 6 P.c., ord. 4 p.c Sept: 6. Standard Insurance—final, Is 3d a share Sept. 9. Holden's Motors —final, ord , 6d a share; pref., 8 p.c. pa ~ Sept. 10. Kempt home and Prosser—interim, 4 p.c About Sept. 20. ! Bank of Australasia, interim, 14 p.c. Oct. 3.