COMPANY AFFAIRS.

Auckland Star, Volume LXI, Issue 83, 8 April 1930, Page 4

COMPANY AFFAIRS.

BURNS PHILP (SOUTH SEA). DIVIDEND OF 1/6 PER SHARE. The tenth annual report of Burns Philp (South Sea) Co. (Suva),-states that grass earnings from all sources (including the balance brought forward) for the year e.nding December 31 were £197,563. The net batence after deducting expenses was £68,421. It is proposed to pay a dividend of. 1/6 per share, to allocate £13,000 to the reserve fund and carry f6nvard a balance of £2171. 'The report states that: "The oversea markets for island produce remain depressed,, and it is'expected that the present low value will continue. Merchandise eales -were satisfactory, but shipping revenues declined on account of higher working expenses and the'cost of repairs and overhauls. "During a volcanic eruption at the island of Niuafoou, a fire resulting from the flow of lava destroyed the village of I'utu, including the company's trading station consisting of buildings, merchandise and produce. A severe 'hurricane, accompanied by floods, experienced in the district of Labaea, Fiji, also caused considerable damage to stocks and buildings. Both losses have been provided for." Chief items-or- the 'balance-sheet are as follow:— Subscribed,,, capital, £750.000; reserves, £70,000; outside liabilities, £85,091. .., /. f Assets: .Properties (shipping and landed), investments, etc., £435,890; stocks, £287,613; sundry debtors, £189,962; cash, £60,048. DALGETY DEBENTURE ISSUE. Dalgety and Co., Ltd., has arranged privately in London an issue of £500,000 of debentures, carrying iYz per cent interest,, with a currency of 25 to 30 years. The iesue price is reported to be £80 per cent, which would make the yield, not including redemption-, £5 12/6 per cent. Should the company transfer the money to Australia c f.ubstantial profit would be.realised at luiiug rut'ju of exchange.