COMPANY AFFAIRS.

Auckland Star, Volume LVIII, Issue 212, 8 September 1927, Page 4

COMPANY AFFAIRS.

M*tN£ AND CHOYCE, LTD.

DIVIDEND EIGHT PER CENT.

BONUS TO EMPLOYEES

A net profit of £21,479 is shown in the annual report of Milne and Choyce, Ltd., and the directors recommend that the usual dividend at the rate of 8 per cent be paid on all classes of shares and debenture stock.

The balance brought forward from last year was £29,388, to which has to be added the net profit for the year ended July 31 last (£21,479), after providing £2500 as staff bonus. From the total, £50,867, the interim dividend at the rate of 8 per cent, amounting to £10,000, has to be deducted, leaving a credit balance available of £40,867. The directors recommend that this be dealt with by paying a dividend at the rate of 8 per cent, absorbing £10,000, leaving £30,887 to be carried forward. The report adds that, in spite of a business depression, which now appears to be passing, the special efforts of the staff have resulted in a very satisfactory increase in sales, which the directors regard as a* tribute to the quality of the service rendered by the company. Possibly part of this success is due. the report states, to maintenance of large, well-selected and varied stocks, which, it will be noticed, are somewhat larger than usual. The new departments instituted during the year are proving popular and valuable adjuncts to the business. During the year overhead expenses have been substantially reduced, which is reflected in the profit and loss acount, and has enabled the appropriation of £2500 for staff bonus. The annual meeting will be held on September 28. The retiring directors, Sir George Elliot and Mr. Charles Rhodes, again offer their services. NEW REGISTRATIONS.

Three private companies were registered in Auckland yesterday. Details are as follow:— The Auckland Fishermen's Co-operation, Ltd., fishermen, trawlers, etc. Capital: £1500 in £1 shares. Subscribers: W. Joass, G. H. Knaggs, R. J. McLachlan, J. S. Shirley, J. B. Knaggs, A. Blank, J. Sanderson, W. P. Bronlund, W. H. Hodges, W. Mansfield, C. Mansfield, J. Watson, T. W. Arnold, A. P. Blonlund and D. E. Car dale, 100 shares each. Charles Bailey and Son, Ltd. Objects: To purchase from the official assignee all the property at Freeman's Bay recently offered for sale by the official assignee and the goodwill of the shipbuilding business carried on by Charles Bailey, etc. Capital: £2500 in £1 shares. Subscribers: W. F. McCallum, 1768 shares; A. F. McCallum and D. F. McCallum, 366 shares. Spinks and Son, Ltd. Objects: To acquire the business of general electrical and motor engineers carried on under the name of Spinks and Son. Capital: £1500 in £1 shares. Subscribers: R. B. Spinks, 1125 shares; G. L. Spinks, 375 shares.