COMPANY AFFAIRS.

Auckland Star, Volume LXII, Issue 39, 16 February 1931, Page 4

COMPANY AFFAIRS.

HUDDART-PARKER.

DIVIDEND OF EIGHT PER CENT. A dividend of 3 per cent on the preference, and 4 per cent on the ordinaryshares, has been declared by the directors of the Huddart-Parker Steamship Co., payable on March 14. This makes the dividend for the year on ordinary shares 8 per cent, against 10 per cent for the previous twelve months. 3 , GREY VALLEY COLLIERIES. ) ) FINAL DIVIDEND NOT PAID. } DIFFICULT TRADING CONDITIONS. * The directors of Grey Collieries, Ltd., . have issued the following circular to shareJ holders:— "At the annual meeting, a final dividend of three per cent was declared, the pay--1 ment being left to the discretion of the directors. A later meeting of directors, | tentatively lixed February 16, as payment I date. Sincc then, however, general busii ness conditions in New Zealand have i become more disturbed, and the coal 1 mining industry has not escaped its share 1 of thb eliects. Owing to the curtailment of services, and to the reduction of stocks, the Railway Department are at present purchasing a less quantity of coal. A large portion of the company's output is supplied for railway purposes. In addition, the abnormal exchange rate between Australia and New Zealand appears likely to afford an unfair advantage to importers of coal from Australia, unless our Government take steps to protect New Zealand producers. Whilst the uncertainty of conditions continues, your directors deem it expedient to conserve, in every possible way, the cash resources of the company, and as a matter of precaution have decided to further postpone payment of the dividend until a later date. You can rest assured that your directors are carefully watching the position, and taking every precaution to see that this company's business its affected to the minimum extent by the difficult conditions through which New Zealand industries arj passing at the present time, lhe matter will be reviewed again directly there is an improvement in conditions." WESTPORT STOCKTON COAL. NO DIVIDEND. - The year's operation of Westport Stockton Coal Company, ending December 3], resulted in a working surplus of £39(51, which the directors propose shall be allocated to depreciation. The annual report states that the year's output was 153,319 tons, compared with 152,995 tons in 1929. The output was considerably reduced by a strike which lasted live weeks, by the reduction in railway orders and by other causes. As a result of the work done in the last few years the directors state that the colliery has never been in a better position than it is to-day to deal with a larger output, lhe annual meeting is to be held on February 27 in Christchurch. Paid-up capital of the company is £197.785, in addition to which £70,000 worth of debentures have been issued. GLENMORE BRICK CO. DIVIDEND, 5 PER CENT. i In presenting the 29th annual report and balance-sheet of the Glenmore Brick and Tile Manufacturing Co. (Christ- ' church), for the year ending December I 1 31, the directors regret that the interim dividend paid on ordinary shares in • August will not be augmented this half year, and that 5 per cent will be the total 1 for the year. They point out that the ; exceptional falling off of trade in the company's quarries and the dearth of building 1 operation were the only causes thereof. ' Although tire company has, as shown in the balance-sheet, a reserve fund of £6150, f and a dividend equalisation reserve of ' £500, the directors did not think it advis- * able to make a further call on these funds 1 in view of the present fiuancial situation. (

[AUSTRALIAN BANK OF COMMERCE. DEDUCTION FROM DIVIDEND. On dividend warrants received last week from the Australian Bank of Commerce, a deduction of 6d in the £ 1 was made for unemployment levy in New' South Wales. NEW PUBLICITY COMPANY. The Charles Haines Advertising Agency, Ltd., lias been registered in Sydney with a nominal capital of £25,000 in £1 shares. The objects of the new company are to carry on the business of newspaper and advertising agents in all branches. Head office in New Zealand at Wellington, head office in New South Wales at Sydney. VICTORIA-NYANZA SUGAR. A cable has been received from the Victoria-Nyanza Sugar Co. notifying that during the month of January 5350 tons of sugar were manufactured. NEW REGISTRATIONS. Following are details of two private companies which have been registered in Auckland:— Legge Solder Co., Ltd., acquirers of process for making aluminium solder. Capital: £500 in £1 shares. Subscribers: Mark Jacobs, 100 shares; Helen Ada Stella Legge, 300 shares; Harry Jacobs, 100 shares. C. Ross, Ltd., drapers. Capital: £1500 in £1 shares. Subscribers: Charles Richard Ross, of Pukemiro, 1400 shares; Ivy Hilda Ross, of Pukemiro, 100 shares.