COMPANY AFFAIRS.

Auckland Star, Volume LXV, Issue 285, 1 December 1934, Page 4

COMPANY AFFAIRS.

UNION BANK. CHANGE IN BALANCE DATE. In order to fAcilitate preparation of the balance-sheet at a date between seasons, the directors of the Union Bank of Australia, Limited, have decided to end the financial year on the last day of August in each year, instead of the last day in February, as at present. The accounts for the six months from March 1, 1934, to August 31, 1!)34, will be presented at a general meeting of shareholders in January or February, 1935,. and subsequent annual meetings will be held in January or February. Interim dividends will be announced in July and linal dividends in January. MANAWATU KNITTING MILLS. INCREASE IN DIVIDEND. WELLINGTON, Friday. Manawatu Knitting Mills, Limited, has advised the Stock Exchange Association that the directors recommend a dividend for the year ended October 20 at the rate of 10 per cent on the nominal value of issued shares. A dividend of 0 ptr cent was paid last year by the company, which has an authorised capital of £25,000, subscribed to £18,500, in £1 shares. NEW ZEALAND MALAY RUBBER. The accounts of the New Zealand Malay Rubber Company, Limited, Oamaru, for tlie year ended June 30, show a net profit of £144, the first earned since 1929, against a loss of £391 last year. At the annual meeting held this week, Mr. R. Milligan, chairman of directors, said the whole outlook of the industry had been changed as a result of the regulation plan. He considered that the scheme would mean reasonable prosperity for producing interests. Mr. Milligan said there was a prospective liability of £5305' in respect of preference dividend arrears, which would have to bo met before a dividend on ordinary shares could be paid. LOAN AND MERCANTILE. London, November 29. The accounts of the New Zealand Loan and Mercantile Agency Company, Ltd., for the year cyded June 30, disclose a profit of £157,038. £27,125 was brought into the accounts, and £77,413. is to be carried forward.