COMPANY AFFAIRS.

Auckland Star, Volume LXIV, Issue 21, 26 January 1933, Page 4

COMPANY AFFAIRS.

CHRISTCHURCH GAS COMPANY,

DIVIDEND .SIX. PER CENT.

The sixty-ninth annual accounts of the Chris tchurch Gas Coin pun y show a not profit for the year ended December 31 of £21,924, which compares with £26,127 in 1931. The directors' report states:—

"No capital expenditure has been necessary at the works, but the plant lias been maintained in a high state of eliiciency. One mile and a half of main have been laid during the year, only extensions showing an immediate fair return haying been undertaken.

"The reduced spending power of the public due to unemployment and increased taxation has been reflected in our sales of gas, which show a reduction of 3% per cent. The sales of our residual products, coke, tar and ammonia, have been well maintained, it being diliicult at times to meet the demand, but in common with other commodities the prices have fallen, and our revenue has in consequence been reduced.

"After making adequate provision for depreciation, tlie proiit and loss account shows a balance of £29,175 4/8.

I "Your directors recommend the payment i of a dividend of 3 per cent, which, with 3 the dividend of 3 per cent already paid, > will absorb £21,107, and to carry forward > the balance of £8068." A.P.A. ASSOCIATION. SYDNEY, January 25. At the annual meeting of the Australian Provincial Assurance Association the chairman, Mr. E. S. Paul, stated that investments, Government stocks and securities, had increased from £803,000 to £1,281,000. Loans on policies had increased five times at £157,000. The establishment account had been written off, and the association would shortly be admitted a member of the Life Offices Association. The association's New Zealand business was sound, but the management was being centralised at the Wellington office, thus effecting large savings.