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TRADE AN I ) FIN AN ( E
Bank ot England.
. A further decrease lias occurred m the
gold stock of the Bank ot England, the
return for the week ended 27th mst. show
ing the substantial reduction of
£1,281,000, which brings the aggregate in
the issue and banking departments down
to £152,815,000. Note circulation was in
creased during the week liv £358,000, and
the reserve therefore is £1,030,000 less, at
£33,405,000, includuig£31,013,000 in notes.
Public deposits linvc contracted from
£20,202.000 to £17,750,000, and other de
posits from £105,344,000 to £104,850,000.
The result of the various movements lias
been a shrinkage from 27.00 per cent, to
27.30- per cent, m the ratio of reserve to
liabilities.
Conditions are steady in the London
open money market, the rate for discount-
ins fine three months' bills remaining at
4/i per cent., or % per cent below the
Bank of England late, nnd the quotation
for short-dntcd loans is still 4% per cent.
Melbourne and Sydney Clearing Returns.
Total clearance at the Melbourne bank
ers' - clearing house . from 1st January,
1026, . to 25th October, 1028, was
£632,222,156; and from 1st Janunry, 1025,
to 26th.:-. October, 1025, £640,823,559, the
decrease being £14,601,403. Sydney
clearance , from 1st January last. to. 25th
amounted to- £705,310,662, or
40, 639,120 more than for the correspond-
lng period of 1025, and £133,007,467 in ex-
»«i.y:,un jueiiwuruu clearance irom 1st
January hmt to 25th inst. -.
Insurance Company's Results.
AcCounts of the South British Insurance
Co. Ltd.. New Zealand, for the year ended
31it August last, a Bummary of which has
already .. appeared in these columns, show
that net premium revenue amounts to
£039,533, as against £905,017 for 1024-25-
Intercst snd ..rents received and accrued
after payment of income tax on them
were .£117,400. After making full provi-
for_, losses outstanding .there is a sur-
9»« ' underwriting account of
income from interest and rents
as above makes a total of £109,001. and
surplus for 1924-25 was
Jlo the reserve fund is to be
added £75,000, and to the sinking funds of
leaseholds £500. Interim dividend of 1/1
per Bhare was paid xn April, 1920, absorb-
£05,880, and dividend for the second
naif .of t he year is at the above rate, mak-
jnr 2/2- per Rhare for the twelve months,
or Id; per share more than for the pre-
zizz ,y«ur. xne nainnce trom August,
1925, less dividend paid in October, 1925,
Ypas £155,334, and the sum carried for-
ward:.on this occasion is £107,735. The
company has., branches nnd agencies
throughout Australia and in other coun
tries. . Balance sheet items are compared
beneath:—
Glut August
>1024. 1025. 1020.
Liabilities— -C £ £
Paid-up capital .. .. 773.730. .773.730. .778.780
Recwro- fund .. 525.000. .000.000. .075,000
Resoive for - unexpired
,.r l«»es t- 402'000 472' 400'0w
flocluttlon mi028- -159'889- 170' 288
fir1 wwhsu. ' .ad 86'05 85'110 90078
opeq-sccount. .. .. 1T1.4BO. .303,702. -220 070
Isn<!«d - pr<qwA(c« . 347.807; .854.1BS. .3SS.2811
sSS. ate .ad 2'3 83205 67 002
Mite; ii; dobei,: 252',0,>- 26'100- S60'088
niH!? 'V ' l LI 100, 101.. 122.001. .B80.018
UOTcrnmeut stocks .. 106,808: .848.200- 420-540
Amencnn Government
ImfSSlnd- Dominion 10S'40- 1W>'40(>- 102 000
_wjr loin. S00.SGO 770.785. 774.718
SMS1 .. ".SN 307.54!), .181,148 211.588
2 £22 J'?"" - 181.871.. 108.811). .287.851
Sondiy debtor., fte. . . 57,778 . . 02,131. 03.5S5
Th» New Carrying Company.
The board of Yellow Express Carriers
uidi., jneioourne, reports that the chair
man of directors, Mr. P. W. Tewksbury,
went at his own expense to America,
where he arrived in August, to arrange
for. suitable equipment and an experienced'
operator to direct the company's activl-
ties. . He has been able to secure the
services of one of the most competent
and experienced directors of transport
business in the United States, Mr. W.
Mu ho land. Mr. Tewksbury and Mr.
inbl h.ave Vether- Kone carefullv
J2.rt.ii "t0?.' mo,ccrn methods of trnns-
portation followed in the United States
MlA ..Van<iUvi ypes of equipment re-
suable to conditions in Mel
bourne and Sydney. Mr. Mulholland »
.rrt„.T „- f way » Australia,- and on his
Wlth the definite for-
kJJJn 122- lJrt ia mes on which it haB
bJJartSJ? company's business will
be Masted " m V"®. work he wil1
semary f Mr.iJJSchiimer who"!!)
Eft to-day.CT0a%abtOme"
ISteH 4S.4NSW v,tK Mr" Tewksbury
had _ been investigating
2,1.1 "l" "ethed®" of transport business
b?,h remarkable results, and that
he considers the prospects of the com-
g-a"y .""'lent. He U since gone t,
-ero h ls conducting still
turther. investigations in the interests of
in «C5rt ny' < . Slte' covering one acre
£.?L i antral position in South Mel-
JS? rtJSirt ?.j if0 P.reposod new Speu-
Tu'n?6' hnn.heen purchased' fdr
the mam Melbourne depot, and the plans
Vfcifications for the buildinga are
«MiiW .finalised by the company's
Iv?' with a view to calling tendera
lor their construction early this month
» Bite in DVQDGV IN Alan nnrln
hlSS;..14--1.1! fnt'e'Pnted the Mel'murnt
business will be commenced early in the
new year, and that tlio establishment of
the Sydney depot will quickly follow
btcps have been tnken to list the com-
panjrs shares on the leading stock ex-
2S2?BjS1 4. s'ntntory report to be sub-
mitted to shareholders on 9th inst. shows
fnatvha total number of bhares allotted
u 500,000, of which none are allotted as
Inliy paid qp or as pnid up otherwise than
in cash to any extent. And upon each
of the, shares the sum of 6/ has -beon
.paid in cash. The total amount ot
cash received by the company m respect
i the Bhares issued wholly for cash is
£125,000. The receipts and payments
of the company on capital account up
to a date within seven days of the date
of -this report are as follow:— Receipts:
"Application money, 2/8 per share on
800,000 shares, £62.500; allotment monev,
Vo per share on 500,000 shares. £62,500.
Feyments: Deposits -on land, £3500; un
derwriting commission, £37,490; broker
age, - £12,400. Particulars concerning bal
ance of cash remaining on hand show
rtmunt on fixed deposit with bank,
£60,000; cash m bank on current account
£11,267.
Melbearm Motor Services.
Tile report of the board of Melbourne
Motor Services Ltd. for the year ended
30th September last discloses that divi
dends received during the year were
£6500, which, together with £250 brought
forward for last year, makes £6750 avail
able, leae £64 expenses, interest -and audi-
tors fee. Interim dividend at the rate
of 5 per cent, paid in May last absorbed
£6250, leaving £436,. which the board pro-
pogewto carry forward. Paid-up capital
is £250,005,. and -there is a bank overdraft
i tf £871. AsMts include shares in sub
sidiary companies as under :-City;Motor
. Services Pty. Ltd., £187,400; Taxi Cab
Co. Ltd.. £51,600; and .Globe Motor ami
Taxi Co. : Ltd., £10,086; a total of
£249,966.
FrMt Preserving in FIJI.
A message from Suva dated 30th Octo
ber states .that the proceeds of the first
tins of preserved pineapples shipped from
the Government's experimental factory
there to- Sydney are ' satisfactory .
Dslgfty'anO Co. Ltd)'
Dalgety and Co. Ltd., Melbourne, adviso
that imt' of the profits earned the Lon
don directors granted ' a special bonus to
the wljole of the company's staff, amount-
ing to £50,000. This represented 10 per
cent, on current salaries, and is ill addi
tion to £25,000, which has been allo
cated to the staff providont fund.
Profit of Wholesale . Chemists.
For the six months ended 31st August
last Washington H. Soul Pattmson and
Co. Ltd., wholesale, retail and manufac
turing 'chemists and druggists, of Sydney,
made £28,447 net profit. The previous
half year's figures were £25,346. Dividend
at the rate of 10, per cent, per annum
with bonus of 3d. per Bhnro, in repented,
and n epecinl bonus of 3d. per Bhare is
del tied . The distribution amounts to
£18,000. and £0547 is transferred to the
rcvei-ve. The company operates, on
£250.000 paid-up cnnitnl. The reserve it
71st August was £02.0TG: taxation reserve,
- 66000; staff fund, £5000: and sundry ere-
litnpg n m nutif fn > P'IRfVQR T« askkIs
nronerty. stock, plant, Ac., decreased
during the half year from £248,149 to
to £242.004, but Government securities
increased from £118.117 to £120.117, sun-
Irr debtors from £30.083 to £37,231, and
cash from £0000 to £10.530.
Victoria Nyanza -Sugar Company
Advice has been received by tlie bonri)
of the Victoria Nvnnzn Sugar Co. Ltd.,
Melbourne, that the company has been
registered in London, and that the shares
ire now being quoted on the London Stock
Exchnnge.
Bank and Exchange Rates.
Rates and allowances quoted by the
associated ..banks -arc as under: — .
ADVANCICS.
Discount . rate. to 7 pc. per annum; over
Craft rate, 814 to IVi p.c. per annum.
DEPOSITS.
ror six mnntna, 4 p.c. p.a.; twelve month
4% P-c. p.a.i two ycara and upward 6 pe
P1I4
EXCHANGE ON LONDON-
Baying. Selling.
6/ p.c. die. T/T .. .. 2/0 p.c. pre.
17/8 p.c. din. .. O/D .. .. »/ p c-di
18/6 p.c. dls. .. . SdnvB.. _
27/n p.c. die. .. .! SO daya .. .. lt/0 p.c. dU.
87 /rt p.e. dla. .. ..08 clave .. .. 20 p-e. dla-
47/6 p.c. dls. .. .80 day.. .. - —
INTEK-STATE AND NEW ZEALAND
EjritANOE.
Between Melhonme and— Sydney 5/6, BriabaM
7/6, Adelaide 2/6, Perth 7/9, Bobart-Linnceatoa
S /.
Between 8ydncr and— Melbourne 2/8. Brlibant
2/6, Adelaide 6/, Perth 10/, Hobart-launceston
6/- --
Between Brlaban and— Melbourne 7/6, Bydnej
2/6, Adelaide 10/. Perth 12/6. Hnbart-Uunce
ton 10/.
Between Adelaide and— Melbourne 2/6, Sydney
B/. Briabane 10/. Perth 6/. Hobart-Launcotoa
t/O.
Between Perth and— Melbourne 7/6, Sydney 10/.
ne 12/6, Adrlatdo 6/, Hobart-Launceicton
Between Bobart-Launceston and— Melbourne 5/-
Sydney 5/, Brisbane 10/. Adelaide 7/6, Perth
New Zealand.— Buying, 7/6 per cent diacount;
icllingy 2/d per cent premium. -
$