COMPANY AFFAIRS.

Auckland Star, Volume LXI, Issue 186, 8 August 1930, Page 4

COMPANY AFFAIRS.

COMMERCIAL OF SYDNEY.

The Commercial Banking Company of Sydney, Limited, discloses a net profit of £637,619 for the year ended June 30, representing a decline of £17,575. Dividend is maintained at 10 per cent, absorbing £473,901. Transfers of £100,000 to reserve fund (making it £4,300,000), and of £50,000 to premises account, are made, leaving £85,226 to be carried forward, against £71,508 brought into the accounts. Following is a composition of the bank's results for the last three years:— 1928. 1929. 1930. £ £ £ Profits 653,243 055,194 637,619 Dividend, p.c. .. 10 10 10 Amount of dividend 473,211 473,901 473,901 To reserve 125,000 125,000 100,000 To premises account 50,000 50,000 50,000 Forward 65,215 71,508 85,226 The paid-up capital is £4,739,012, and the reserve fund now stands at £4,300,000.

MOTUROA OIL FIELDS, LTD. The statutory general meeting of share' holders of the Moturoa Oil Fields, Ltd., wa3 held on July 30, at Wellington. The chairman of directors (The Hon. J. B. Donald) presided, and the statutory report, which had been previously circulated amongst shareholders, was adopted. The secretary (Mr. F. H. Bass) reported that applications for shares had been coining in freely, and iiJJ to the present 66,150 contributing shares had been allotted. Progress with the first well had been satisfactory, and drilling had reached a depth of nearly 1800 feet. Little or no damage was done to the well by the recent show of inflammable gae, and drilling would be resumed in the course of a week or ten days. Meanwhile the flow of gas continued, but the wall was under control.

BROKEN HILL PROFITS FALL. The Broken Hill Proprietary Co., Ltd., advises having sent the following cable to the branch office in London:—"Subject to the audit, the net profit for the year ended May 31, 1930, is £161,889, after providing £256,695 for depreciation, and £73,032 for debenture interest. The net profit compares with £332,670 for the previous year, after providing £317,592 for ordinary depreciation and £100,000 for special depreciation. ALEXANDER MINES. The annual meeting of shareholders in the Alexander Mines, Limited, took place at the Council Chambers, Reef ton, on July 31. Fourteen shareholders were present personally and eighty shareholders represented by proxy; representing a total shareholding,,of 29,906 shares. Mr. J. B. Auld, chairman of directors, presided. The directors' report, balance-sneet, statement of profit and loss .account for year ending May 31 were discussed and adopted. The retiring directors, viz., Messrs- J, B. Auld and S. A. A. Fry, were re-elected for the ensuing year. Messrs. W. B. Auld and H. Cooper were re-elected auditors. Mr. K. M- Barrance, mine manager, gave a full account of the operations in progress at and those contemplated. Mr. J. B. Auld was appointed to represent the company at the public meeting which was held at the Council Chambers, efton, ° £ n August 1, to discuss the question of making representations to the Government for the granting of a bonus on the protection of gold.