COMPANY AFFAIRS.

Auckland Star, Volume LXIII, Issue 264, 7 November 1932, Page 4

COMPANY AFFAIRS.

DALGETY AND CO. SHARP FALL IN PROFITS. ORDINARY DIVIDEND 5 PER CENT. LONDON, November 5. A net profit of £54;,106 is disclosed in the annual accounts of Dalgety and Company, Limited, merchants, stock, station and shipping agents, for the year ended June 30. The amount brought into the accounts was £212,358; making £266,464 available. The directors recommend a final dividend of 2/ a share, free of British income tax, and to provide £10,000 for the staff provident fund, leaving £156,464 to be carried forward. Following is a comparison of the company's results and. appropriations for the last three years:— 1030. 1031. 1932. £ £ £ Brought forward. 227,943 238,889 212,358 Net profit < 235,940 125,4(i0 54,10b 463,889 367,358 266,464 Staff fund 25,000 25,000 10,000 Premises account. 60,000 — — Dl p^" d s~p.C. ... 25,000 25,000 25,000 Ord n c 10 7 5 Amount' 150,000 105,000 75,000 Carried forward.. 238,889 212,358 156,464 The paid capital of the company is £2,000,000, of which £500,000 is in 5 per cent preference shares fully paid at £10 each. Reserve funds total £1,500,000. SOUND AND HEALTHY. SHARLAND AND CO. ANNUAL MEETING. At the annual .meeting of Snarland and Co in Wellington on Friday, the- chairman o£ directors, Mr. A. E. Mabin, referred to the sound position ot the com,pany With no liability to its bankers, and ample resources, the company was now in a good .position to take advantage of any improvement in trading conditions. The accounts of the company were published in the "Star" on October 22. A dividend of 6 per cent on both .preference and ordinary shares was recommended, ana has now been paid. Seconding the motion, Mr. V. J. Lamer eaid shareholders had good reason to be, highly gratified with the results disclosed, since all trading concerns had sufiered by the drop in turnover. The companys business was Rood and sound, and it would be one of the first to resume payment of the usual dividend. The motion was carried unanimously. r T The retiring directors, Messrs V. J. Lamer and-A. Young were re-elected. FARMERS' TRADING CO. PREFERENCE DIVIDENDS. The interim dividend on the Farmers' -Trading Company's A and B 7 par cent preference shares for the half-year ended September 30, will 'be .paid on November 30. AUSTIN MOTORS. "SATISFACTORY" PROFIT. The accounts of the Austin Motor Company, Ltd., England, for -the year ended July 31, show a gross trading pront of £1,078,145, less charges for directors fees, maintenance, buildings, etc., and depreciation, £396,758, leaving a net pront of £631387. This compares with a net profit of £874,232 in the previous years account. On ordinary shares it is proposed to pay a dividend of 25 per cent and a bonus of 25 per cent, compared with 100 per cent- dividend last year. The 20 per cent preferred ordinary shares receive the usual 20 per cent. It is proposed to transfer to reserve £100,000, against £200,000 last year, and to carry forward to next account £319,220, compared with £270,489. The directors state that they are pleased to report "a satisfactory profit, in spite of the world-wide financial disturbance and the difficult trading conditions." Export sales approximately equalled last year's. There are 600,000 ordinary shares of 5/ each, and 1,500,000 preferred ordinary shares of 10/ each. The ordinary -shares, which received 100 per cent in 1931, were originally issued at £1 each, but were written down to 5/ a share a few years ago. . BROWN, EWING AND CO. LOSS LAST YEAR. The accounts of Brown, Ewing and Company, 'Limited, drapers, clothiers and house furnishers, Dunedin, show a loss of £2134 for the year ended August 15. This compares with a loss of £2323 in the previous year and a profit of £974 in 1930. •The 6 per cent preference shares receive a reduced dividend of 5 per cent, while ordinary dividend has been passed for the second year in succession. Prior to that the company distributed 9 per cent on ordinary shares for a long period of years. The capital of the company is £50,000, and includes £25,000 in preference shares.

NORTH BROKEN HILL. SHILLING DIVIDEND. The directors of North Broken Hill Mines Company, have declared a dividend of 1/-per - share, payable on December 14. NEW PRIVATE COMPANIES. The following .private companies have been registered in Auckland: — Leo Eogaly and Lewie (N.Z.), Ltd., Auckland, general merchants, indent and commercial agents, brokers, etc. Capital: £2000 in £1 shares. Subscribers: Alfred Lewis, of Sydney, 1800 shares; G. P. Roxburgh, of Auckland, 200 shares. The Star Aerated Water Co., Ltd., to acquire the business known as the Star Aerated Water Co., Petone, Wellington, cordial and aerated water manufacturers, etc. Capital: £1200 in £1 shares. Subscribers: <J. A. Clark, of Hamilton, 450 shares; Kate Clark* of Wellington, and H. E. Clark, of Petone, 375 shares each. The Woman's Weekly Publishing Co., Ltd., Auckland, publishers, printers, etc. Capital: £1000 in' £1 shares. Subscribers: Audrey Argall and Otto W. Williams, 500 shares each. Healtheries Manufacturing Co., Ltd., Auckland, millers and dealers in wneat, flour, wholemeal and health products, etc. Capital: £500 in £1 shares. Subscribers: James Tinnock and Robert A. Eisenhut, 240 shares each; Ida P. Greenwood, 20 shares.