COMPANY AFFAIRS.

Auckland Star, Volume LXIV, Issue 211, 7 September 1933, Page 4

COMPANY AFFAIRS.

GEAR MEAT CAPITAL. CONFIRMATION OF REDUCTION. Formal resolutions providing for the reduction of the capital of the Gear Meat Preserving and Freezing Company of New Zealand, Limited, which were passed at an extraordinary meeting of shareholders in Wellington on August 16, were confirmed at a special meeting on Tuesiay. The reduction involves the return to shareholders of the equivalent of 10/ a share in New Zealand Government inscribed stock, the capital of the company being reduced from £460,000 to £230,000. MILBURN LIME AND CEMENT. (By Telegraph.—Special to "Star.") DUNEDIN, this day. i The annual report of the Milburn Lime and Cement Company states the profit and loss account, after writing off depreciation and making provision for income tax for the current year, shows a credit balance of £14,851 7/10, including £2469 2/1, carried forward from last year. An interim dividend of 3 per cent was paid in March last, amounting to £6000, leaving a balance of £8851 7/10 to be dealt with. The directors recommend that the balance be appropriated as follows: To payment of a dividend for six months ended July 31 at the rate of 3 per cent, £6000, leaving a balance to be carried forward to next year of £2851 7/10. Net profits at £12,382 compare with £14,036 for the previous year, and £23,131 in 1931. Last year the dividend was reduced from 10 per cent, which had ruled for a decade, to IVa per cent.