COMPANY AFFAIRS.

Auckland Star, Volume LXV, Issue 26, 31 January 1934, Page 4

COMPANY AFFAIRS.

CHRISTCHURCH GAS.

PROFITS SLIGHTLY LOWER

DIVIDEND 6 PER CENT. The accounts of the Christchurch, Gas, Coal and Coke Company, Limited, for the year ended December 31, 1033, dislose a net profit of £21.489, compared with £21,924 In the previous year and £26,128 in 1931. Gross revenue at £171,089 is reduced by £1041.

With £8068 brought forward, the balance in the proiit and loss account is £29,557. Two dividends of 3 per cent each, making, as already announced. 0 per cent for the year, absorb £21,252 and £163 has been transferred to renewal fund, leaving a cany forward of £5142.

The directors state that general business has been maintained and the results are satisfactory, considering the difficult trading conditions.

Following are the company's results and appropriations for the last three years: — 1031. 10?,:;. 1033. a; .u i; Brought forward.. 8,423 7,2.",] 8.06S Net profit 2U.12S 21,024 21,48!) 8-1,551 29,175 29,537 Dividend p.c S 0 ° Amount 1>7.300 21.107 21.2.VJ To Renewal Fund — — l*j;i Carried forward . 7,251 8,008 8.14U THOMAS COOK AND SON. BANKING BUSINESS. The local office of Thos. Cook and Son (Bankers). Limited, lias received the following extract from the London "Times" dealing with the company's accounts: — "The balance-shccet made up on October 31 of Thos Cook and Son (Bankers), Limited, which was formed a few years ago to take over the banking business from the travel organisation of Thos. Cook and Son, shows that the high degree of liquidity which has been a marked characteristic of its accounts in the past is fully maintained Deposits arc covered by cash and short loans to an amount of not less than 85 per cent, an exceptionally high ratio. The published reserve fund is equal to the paid-up capital, and internal reserves, which we understand are substantial, have not been disturbed in the past year. Investments appear below their market values. The whole of the capital of the French subsidiary is owned by the English company and is included in the balance-sheet below cost."