COMMERCIAL NEWS
DALGETY AND COMPANY. THE YEAR’S OPERATIONS. The balance-sheet of Dalgety and Company, shows that the net profit £96,789 was struck after a transfer of £40,000 from contingency reserve. Preference dividend requires £25,000, and ordinary dividend, at the unaltered rate of 5 per cent, £75,000. A sum of £IO,OOO is transferred to staff provident fund, and £116,267 is earned forward, against £129,477 brought forward. The cost of exchange was £87,3»y. Possibly the transfer from contingency reserve represented a partial reversion to the methods of 1931-32 and 1932-33 when this cost was covered by such transfers and not by current earnings. The directors state that the wool market at the opening of the 1934-3 o season had fallen to a low level again. In spite in the increase of 154,/48 bales in tlie Australian clip, which, with the carry-over, enabled' an increase ox 4.60,632 bales to bo sold, tlie decrease in the value of sales in the Commonwealth was £13,639,753. The 1935-36 season started under far better auspices (apart from the disturbed state o Europe) and a sharp rise is values was registered. £35,000 LAND DEAL. AUCKLAND CITY PROPERTY. AUCKLAND, December 26. A price understood to be £3o,UW was paid by J. R. McKenzie, Ltd., for a site between George Couit s an Rendell’s, in Karangaliape Road with a 35ft frontage. A modern department store will be erected.
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Bibliographic details
Ashburton Guardian, Volume 56, Issue 64, 27 December 1935, Page 7
Word Count
228COMMERCIAL NEWS Ashburton Guardian, Volume 56, Issue 64, 27 December 1935, Page 7
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