COMPANY AFFAIRS.

Auckland Star, Volume LXI, Issue 110, 12 May 1930, Page 4

COMPANY AFFAIRS.

WRIGHT, STEPHENSON AND CO

NET PROFIT £36,035.

USUAL 7 PER CENT DIVIDEND,

Wright, Stephenson and Company have evidently concluded . a successful year's operations, as the profit and loss account for the twelve months ended March 31 shows a net profit of £36,035. This, with the balance brought forward from last year, namely £37,024, gives a credit of £73,059. Prom this is deducted the interim dividend payment of £17,346, leaving available for distribution £55,713. Of this sum the directors recommend that, after making the fixed payment on preference shares, a dividend for the half year be paid on ordinary shares, making seven per cent for the year, and that £38,366 be carried forward. The retiring directors, Messrs. J. A. Johnstone and R. S. Abraham, are re-nominated. Net profits for 1928-29 Were £37,575 and for 1927-28 £35,144. Seven per cent dividend has been paid regularly each year since 1921, with preference shareholders receiving 5% per cent. The chief items in the balance-sheet are:—

Liabilities.—Paid .capital, £549,144; debenture stock, £687,339; sundry creditors, £1,037,961; bills payable, £44,319; owing banks, £51,985.

Assets—Properties, £231,358; stocks, £297,277; advances against produce, £97,415; sundry debtors, £1,443,648; bills receivable, £118,558; shares in other companies, £236,599; Government securities, £28,785; cash, £20,288,

NEW ZEALAND PAPER MILLS,

SLIGHT RISE IN PROFITS,

DIVIDEND INCREASED TO 7V 2

The annual accounts of New Zealand Paper Mills, Limited, just issued, show a slightly increased net profit of £11,949. After making provision for bad debts, depreciation, etc., there is, with the balance brought forward, a credit of £18,374. After deducting the interim dividend there is left available £13,124. The directors recommend a payment of dividend at the rate of four per cent for the half year, making seven and a half per cent for the year, leaving £7124 to be carried forward. The net profits for 1928-29 were £11,674 and for 1927-28 £9052. Last year the dividend for the year w r as six and a half per cent and for the previous twelve months six per cent. Chief items in the balance sheet are:— Liabilities. —Paid capital!,' £150,000; sundry creditors, £10,681; Bank of New Zealand, £40,505. Assets.—Property and plant, £173,477; stocks, £46,966; sundry debtors, £17,067. TONSON GARLICK COMPANY. LOSS ON YEAR £4361. The latest accounts issued by Tonson Gariick Co. for the period ended March' 31, disclose a net loss on the year of £4361. The report of the directors states that the •actual trading loss represents a very small portion of the total. They add thatmueh has been done to improve the affairs of the company, and that "the business from now on should start to rebuild." Two directors, Messrs. C. H. Priestley and H. Butcher, retire by rotation, and Mr, H. Butcher is nominated for re-election. Last year the net loss was £6340. Chief items of the balance-sheet are as follows, the corresponding figures for the previous one being.shown in parentheses:— Liabilities.—Capital: £32,000 (£32,000); reserve, £202 (£4561); suMrv creditors, £2749 (£3289); bank, nil (£0526). Assets.—Land and buildings, plant and fixtures £14,408 (£15.191), stocks £12,510 (£16,804), sundry debtors £7694 (£14,284).