COMPANY AFFAIRS.

Auckland Star, Volume LXI, Issue 62, 14 March 1930, Page 4

COMPANY AFFAIRS.

KEMPTHORNE, PROSSER. . PROFITS SLIGHTLY LESS. USUAL DIVIDEND. The annual report of Kempthornc, Prosser and Co.'s New Zealand Drug Company for the year ended January 31, states that the balance brought forward from last year was £20,516 8/2; the net profit for this year is £71,909 9/6, making a total of £98,425 17/8. The interim dividend for the half-year to July 31, at 4% per cent, absorbed £26/231 5/6, leaving to be dealt with £72,194, 12/2. This it is proposed to apply to payment of a dividend of 3V2 per cent, and a bonus of 2 per cent, making 10 per cent for the year, £32,063 9/9; to add to the general reserve, £10,000; contribution to staff provident fund, £3500; and to carry forward to next year, £26,631 2/5. Following is a comparison of the company's results and appropriations for the last three years:— 1927-2S 1925-29 1029-30 £ £ £ Brough forward 25,177 20,181 26,510 Is'et profits .... 50,042 72,519 71,90!) 51,519 95.991 98,420 To reserve -—- 10,000 10,000 To staff fund 3,000 3,500 3,500 Dividend, 10 p.c. 52,038 2,975 58,295 Carried forward 20.151 20,510 2G,031 The increase in the amount of dividend is due to the capitalisation last year or £53,000 from reserves, in celebration of the company's jubilee, representing one bonus share for every 10 shares held. The paid up capital is now £582,977 and the reserve fund, with the present addition, £110,000. OSWALD M. SMITH. The annual ordinary general meeting of Oswald if. Smith Company, Ltd., general mercha' L s, authorised capital £200,000, was held at Gisborne, when the balancesheet, which was adopted, showed after provision for a 7 per cent dividend that reserves were strengthened by a further £2000 being added thereto. Subscribed capital is £155,000, paid up to £145,000. The company has branches in London, and chief centres in the Dominion. A merger has. been arranged with a large London organisation. It was reported that the company's turnover for the year showed an increase ot' 58 per cent, and with subsidiaries is now in the million's stage. The company's manufacturing side has grown, and to it has been added a confectionery works. The company lias appointed buying agents in all important trading centres overseas. The directors are Messrs. G. H. Wilson, Auckland; H. B. and A. 13. Williams, Gisborne; S. Beer, Biverton; E. R. Murphy, Tokomaru Bay; O. M. Smith, Dunedin; X. S. Sinclair, Pahnerston North. The i.ppointinent of >a director in London was left to the company's allied London house. The auditors (re-elected) were Messrs. Ogle, Sons, and Porter, London, and Leslie and Johnson, Dunedin.