Finance page .sx +143,780 FOR COMPULSORY PURCHASE .sx THE Minister of Housing and Local Government is to be asked by Dudley Corporation for consent to borrow +146,367 , most of which is needed for the compulsory acquisition of property .sx Block valuation given by the district valuer for the new dock areas is +53,720 ; for the Highgate-road , Woodside areas , +10,120 ; for the Yew Tree Hills area , +14,100 .sx These , with other sums for the Windmill End and St. John-street , Netherton areas , make a total of +108,415 .sx The grand total includes +23,365 for 19 , Hall-street , and +12,000 for the Britannia Inn and 97 , Hall-street .sx Lower profits from motor cycles .sx The reimposition of the credit controls and the wet summer of 1960 had a particularly adverse effect on the activities of motor cycle dealers and resulted in a fall in the group profits of Jenkin and Purser ( Holdings ) , before tax , from +82,545 to +36,091 during the year ended September 8 last .sx Although much of the group's business is effected on hire purchase terms , the company's experience in this respect has been satisfactory , as the machines sold to retail customers on credit are retained as security until fully paid for .sx In his statement , the chairman emphasises that in any event the group's reserves are adequate to meet all contingencies .sx The board have recommended a total distribution of 10 per cent .sx less tax , against 22 1/2 per cent .sx previously , while the chairman refuses to forecast future business as current turnover continues " to be substandard .sx " NEW COMPANIES .sx Royle and Stanley , Ltd.- Private company .sx Registered January 9 .sx Capital +5,000 .sx Objects :sx To carry on the business of builders etc. Permanent directors :sx Harry Royle and Connie Royle , both of 14 , Bhylls-crescent , Merry Hill , Wolverhampton ; Joseph A. Stanley and Dorothy H. Stanley , both of Broadways , Brenton-road , Penn , Wolverhampton .sx Secretary :sx A. Bretherick .sx Registered office :sx Sun-street , Wolverhampton .sx Appointments .sx Mr. N. R. R. Brooke has been appointed a director of Guest Keen and Nettlefolds .sx He is managing director of Guest Keen and Nettlefolds ( South Wales ) and is a director of certain other group companies .sx Mr. P. S. Watson and Mr. J. G. Nutman have been appointed directors of Smith and Nephew .sx Eastbourne Mutual Building Society .sx Total assets during 1960 increased by over +750,000 and now exceeded +8,500,000 .sx Sum advanced during year rose by +208,000 to +1,340,000 .sx Building society 1960 reports .sx W'ton and District Permanent .sx The total assets of the Wolverhampton and District Permanent Building Society now amount to +7,887,647 , having increased during 1960 by +518,102 .sx Mortgage assets amount to +6,538,695 , the net increase in the year being +458,842 .sx New mortgage advances , secured chiefly on owner occupied private dwelling houses , total +1,208,092 .sx Share and deposit investment received during the year amount to +1,232,153 .sx Allowing for withdrawals and the capitalisation of interest accrued , share and deposit balances increased to +7,204,214 .sx The society's liquid funds at the close of the year totalled +1,297,743 , being equivalent to 16.4 per cent .sx of total assets .sx ( The national average in 1959 was 14.6 per cent .sx ) Total reserves have increased to +495,000 , representing 6.6 per cent .sx of total assets , compared with the national average in 1959 of 4.56 per cent .sx Leek and Moorlands Building Society .sx - During 1960 assets and liabilities of Nalgo Building Society and of The Stockport Atlas Building Society were transferred to Leek and Moorlands .sx These transfers are included in the results for 1960 which show assets +63,500,000- an increase of +17,500,000 .sx Mortgage advances during the year +8,000,000 ( +7,950,000) .sx Reserves increased by +673,000 to +2,930,000 .sx Tax amounted to +785,000 .sx Investments in trustee securities and cash +10,650,000 .sx Leicester Temperance Building Society .sx - Total assets at end-1960 were +23,360,000 , or +1,882,000 more than at end-1959 .sx Balance outstanding on mortgages totalled +18,988,000 , also and [SIC] increase of +1,882,000 .sx Investments and cash at bankers aggregated +3,880,000 , representing 16.6 per cent .sx of total assets , while Reserve Funds are 4.26 per cent .sx of assets .sx Advances during the year of +4,002,000 were a record for the society , and 96 per cent .sx of the total amount advances was on owner-occupied private dwelling houses .sx Markets are irregular .sx LONDON .sx AFTER making a hesitant start to the New Account , stock markets have taken some encouragement today from the trade figures , which are better than expected , and quietly irregular conditions prevail .sx Gold shares are very firm despite the sharp fall in the gold price following the U.S. ban on gold hoarding , sentiment being encouraged by the belief that Americans will switch from gold into gold shares .sx There is a widespread advance in gold share prices , ranging 6d .sx to 5s .sx , the latter seen in F. S. Geduld .sx Industrials are mixed , but with sentiment helped by a favourable reading of the trade figures .sx The leaders have rallied from a dull start .sx Glaxo , however , remain a depressed spot at 60/10 1/2 on the cut in selling prices .sx Textiles are firm on talks of further possible mergers , with good gains by Bleachers and Bradford Dyers .sx Stores have recovered part of their earlier falls .sx Steels are often a few pence easier but a number of firm spots are seen in engineerings .sx Buildings have gone ahead .sx Oils are firm with Shells strong .sx New prices quoted today :sx BIRMINGHAM .sx Modest improvements in engineering today include Radiation 34/9 , Wolseley-Hughes 49/- , Smith's Stamp .sx 30/- , Wilkins and Mitchell 13/4 1/2xd .sx , Midland Bright 14/- , Midland Iron 5/9 , Duport 12/10 1/2 and Cope Allman 22/3 .sx Guest new have been bought at 44/3 .sx Clarksons , however , have dipped to 28/3 and Valor 15/- .sx B.M.C. have shed 6d .sx to 15/6 , and Rovers 3d .sx to 14/7 1/2 , but Standards are hard at 10/6 , while S. Smith are supported at 17/4 1/2 .sx Stores are a fairly strong counter , with Wigfalls outstanding at 32/- .sx Susan Small look well at 29/- .sx Albrights are 25/3 and Baggeridge Brick 8/9 .sx HIGHER PROFITS AND PAYMENT BY EDGE TOOL .sx Good results are announced by Edge Tool Industries , of Wolverhampton .sx Group profits , before tax , for the year to September 30 , are reported at +223,878 , compared with +147,126 previously , with tax taking +109,260 against +68,829 , net profits come out at +114,618 , against +78,297 .sx Allocation to reserves is +10,000 against +7,000 , and +1,001 against nil is written off trade marks .sx The loss of exchange-turning on the company's Brazilian Subsidiary was +1,415 against +1,250 .sx Edge Tool's final dividend is maintained at 12 1/2 per cent .sx , but it means a total payment of 20 per cent .sx , against 17 1/2 per cent .sx - the interim having been raised from 5 per cent .sx to 7 1/2 per cent .sx The Brazilian subsidiaries' figures are not consolidated with the results of the home companies in the group , but the figures show that the Brazilian company has another good year with net profits up from 9,700,000 cruzeiros to 10,500,000 cruzeiros .sx Home companies in the group include Chillington Tool Co. , Edward Elwell , Ltd. , and Midland Heat Treatments .sx The annual meeting will be held on February 10 .sx Mr. H. W. Hunt is chairman .sx Dividend increased by P. J. Evans .sx An increase in trading profit from +78,648 to +100,648 , and a 2 1/2 per cent .sx rise in the dividend total for the year to September 30 , 1960 , are reported by P. J. Evans , the Birmingham motor vehicle distributors .sx Following the higher 7 1/2 per cent .sx ( 5 per cent .sx ) interim , the final is being maintained at 15 per cent .sx After depreciation , etc. , of +18,378 ( +16,442 ) and tax +42,514 ( +31,739 ) , the net profit is up from +30,467 to +39,756 .sx The carry-forward is +99,613 ( +76,395) .sx Annual meeting , February 24 .sx H. J. BARLOW SHARES .sx The 2s .sx Ordinary shares in H. J. Barlow and Co. have been made available to those who , on December 30 , held 100 or more Neville Developments Ordinary Shares .sx Holders of 100 Developments Ordinary take part in a ballot for 100 Barlow Ordinary and holders of 200 or more receive 100 Barlow for every complete 100 Developments with a maximum allocation of 10,000 .sx Acceptance letters will be posted today and dealings are expected to start in Birmingham tomorrow .sx ISSUE SUCCESS .sx The directors of Concentric Manufacturing Co. announce that of the 1,020,000 Ordinary 2s .sx shares offered to shareholders on a rights basis at 10s .sx a share , 994,910 shares , representing 97.5 per cent .sx of the total , have been taken up on the rights terms .sx The remaining 25,090 shares have been sold in accordance with the terms of the issue for the benefit of the company .sx HANDFORD GREATREX .sx It is understood that terms of a counter-bid for the Ordinary shares of Handford Greatrex and Co. , of Walsall , producers of upper leather and hide processors , may be put before Ordinary shareholders this week .sx Behind the counter-bid are understood to be Mr. Bernard Owens , a Birmingham insurance broker , and Mr. Alan G. Higgs , a Coventry businessman .sx Meanwhile , Harvey and Sons , tanners and curriers , of Nantwich and Bury , have announced ( as reported in the " Express and Star " on Saturday ) that , having received acceptances in excess of 65 per cent .sx , they have declared unconditional their offer for the Ordinary capital of Handford Greatrex .sx The share exchange offer is worth about 12s .sx a share , and the final date for acceptances has been extended to February 28 .sx Mr. G. Greatrex , chairman of Handford Greatrex , said today that shareholders would have a full opportunity to consider both offers .sx He and his family and other directors control more than 60 per cent .sx of the company's shares and have recommended other holders to accept the Harvey offer .sx The +90,000 capital includes +50,000 in Ordinary shares .sx Company reports .sx The Volkes Group , a holding company of manufacturers of filtration and silencing equipment and specialised engineering products , is raising the interim dividend from the equivalent of 4.58 per cent .sx to 5 1/2 per cent .sx on a capital increased by a one-for-five scrip issue .sx The total equivalent distribution for the year ended March 31 , 1960 , was 15.42 per cent .sx Group profits , before tax , of R. B. Pullin and Co. , electrical engineers and scientific instrument makers , increased from +316,990 to +361,309 for the year to September 30 , 1960 .sx The previous year's effective 25 per cent .sx dividend total is maintained with an unchanged 20 per cent .sx final .sx The 5 per cent .sx interim for the previous year was paid prior to a two-for-five rights issue .sx Tax takes +170,247 , against +167,131 , leaving the net balance up from +149,859 to +191,062 .sx LONDON GAZETTE .sx Order annulled and rescinded .sx - Simon Nadel , residing at 8 , School Lane-close , Rickerscote , Stafford , engineering draughtsman , receiving order dated September 1 , 1953 , rescinded .sx Adjudication dated April 6 , 1954 annulled .sx Petition dated September 1 , 1953 , dismissed .sx All on December 16 , 1960 .sx Debts paid in full .sx Gold price lowest for six weeks .sx President Eisenhower's order forbidding U.S. citizens to hold gold overseas brought a sharp fall in price on the London bullion market today .sx At today's official fixing by the five leading dealers , it was cut by 2s .sx 4d .sx per fine ounce- the lowest point for six weeks .sx The dollar equivalent is 35.43 against the U.S. official price of 35 dollars .sx The fall is the biggest recorded at a fixing since October 27 when , after the City's big gold rush passed its peak , the price dipped 6s .sx to 254s .sx The dramatic U.S. move to check the flow of gold from America was a top talking point in the City today .sx It sparked off selling in a market devoid of buyers , until the price went down .sx Then buyers came in .sx The market later became steadier , and the price rose to around 253s .sx on further buying .sx Of the Eisenhower ban- announced over the weekend and six days before he leaves office- one big dealer said :sx " In all probability it will create a certain amount of panic selling by Americans .sx " It is also going to strengthen the views of outsiders that devaluation of the Dollar , in their opinion , is imminent .sx So there may well be a return of heavy buying by them .sx This would push the price up .sx " Accountants say :sx 'Abolish Schedule A' .sx The abolition of the Schedule A tax on owner-occupied residential properties is among a number of tax recommendations made to Mr. Selwyn Lloyd , the Chancellor of the Exchequer , by the Association of Certified and Corporate Accountants , for his consideration prior to the Budget .sx The association says that while it recognises that abolition of Schedule A would involve a loss of revenue , there would be considerable administrative savings .sx