BYCROFT, LTD.

Auckland Star, Volume LXVI, Issue 104, 4 May 1935, Page 4

BYCROFT, LTD.

INCREASED NET PROFITS. DIVIDEND 10 PER CENT. Slightly increased profits are disclosed in the annual accounts issued by the directors of Bycroft, Limited, for the year ended March 31. The figures are £10,690, compared with £10.505 the previous year. The report states that "the progress of the company has been fully maintained. Ample provision has been made for depreciation of buildings, machinery and plant. Stocks are taken at a conservative valuation and adequate provision has been maintained for income tax and bad and doubtful debts." The directors recommend a final dividend of 1/1 per share, making a total dividend for the year of 2/. per share.

I The retiring director. Mr. Eric H. Rhodes, is nominated for re-election at the annual meting to be held on Wednesday, May 15. Past Years' Profits. The earning power of the company is seen in the following figures, taken from the profit and loss account over a term of years:—

To pay the dividend now proposed will require a year's distribution of £10.000. so that only a comparatively small surplus remains. Following are the principal items in the last two balance-sheets: — LIABILITIES.

The principal changes in the balancesheet are an increase in liabilities to creditors by £13,000. On the other side of the ledger stocks are- higher by nearly £12,000, and cash in hand by £2000. NEW REGISTRATIONS. The following recent registrations have appeared in the "Mercantile Gazette":— Sterling Mortgage and Finance Co., Ltd., Hamilton.—Capital: £1100 in shares of £1 each. Subscribers—Hamilton: N. D. Smith 214, It. Braithwaitc 214, F. Hicatt 114, A. Gordon 05, A. H. Peterson 05, I. Z. Woolson 214. Frankton: R. Braithwaite 214. Objects: Financial agents, etc., and incidental. O'Malley's (Leo) Fashion House. Ltd.— Capital: £1500 in 1500 shares of £1 each. Subscribers—Auckland: J. P. L. O'Mallov 14no. M. O'Malley 85, K. O'MaUey 5, R. O'Malley 5, I. Meltzer 5. Objects: Drapers, etc.. and incidental. Parsons and Drury, Ltd.—Capital: £750 in 750 shares of £1 each. SubscribersAuckland: F. H. Morton 250, J. L. Baxter 200, C. H. Drury 150, H. E. Parsons 150. Objects: Deal in radio plant, machinery, etc., and incidental. Garrard, I/td.—Capital: £700 in 700 shares of £1 each. Subscribers—Auckland: L. W. Garrard 520, W. J. Mairtree 150, .T. L. Garrard 30. Objects: General merchants, etc.. and incidental. Union Securities. Ltd.—Capital: £100 in 100 shares of £1 each. Subscribers— Dunedin: S. F. Greenslade 99, G. W. Fluens 1. Objects: Deal in securities, investments, etc., and incidental. Karaka Syndicate, Ltd.—Capital: £800 in shares of £1 each. Subscribers— Auckland: H. Johnstone 100. P. Keigan 100, F. W. Herbert 100. T. H. Petti t 50. Thames: R. G. Fisher 207, M. McKenzie 133. Whangarei: A. L. Anderson 50. Obiects: Mining and incidental. Wakefield Motors, Ltd.—Capital: £400 in shares of £1 each. Subscribers— Auckland: M. B. Turner 200, R. W. Davidson 200. Objects: Deal with motor vehicles, engineers, etc , and incidental. Public. New Success Gold Mining Co., Ltd. — Capital: £10,000 in 200.000 shares of I, each. Subscribers—Auckland: W. F. McCallum 1000. S. S. Allcman 1000, R. H. Montgomery 1000. J. McMillan 1. C. W. S. Flett 1, C. C. Spedding 1, W. S. Perry 1. Objects: Gold mining and incidental.

__jg m T HE AUCKLAND STAR, SATURDAY, MAY 4 ■ FINANCE, COMMERCE AND MARKETS, the week reviewed. n , 2 . In ~ ] Z I company affairs. S. British 4 16 (i 4 1!) 0 4 1!» 0 . ; t ___, ' Golds. Mort 19!) 1 'J 0 1 10 0 ON 'CHANGE. the latest quotations. market's confident tone. §#■?£_, i *j 8 A x i !j ,1 x ? 8 NZ newspapers, ltd. N.Z. Brew. 2 11 0 2 13 !) 2 15 II Waihi „. 117 9 23(5 2 33 "■ ....... _«.__ . BANKS— Buyers. Sellers. MANY LINES ADVANCE. Latest Sales. HIGHER PROFITS LAST YEAH WEEK ENDS WELL. cJZSOSn&tJt'"* 10 <h 5 & •■ T™ Sales completed since last review have Fn"?i, i S •• 10/o been as follow:Snal^NZ... 3/8/6.;: 378/0 INSURANCES ARE POPULAR. Banks—New Zealand, £2 10/fi, £2 10/0, DIVIDEND 5 PER CENT. CONFIDENT TfiNF prfvaiiq £ at ;V sl! ; &? n , tJ '"o tl/ - /(> •• 6 / 4 /° £2 11/(3); D Mortgage, £1 14/; Reserve, UUIMMUENT TONE PREVAILS. New South Wales .. 30/15/0 .. — £0 12/6, £G 13/3; Union, £8 12/; Com- Npf nrofits „ qrnC(1 bv New Zealan Zealand 2/10/6 .. 2/10/0 RESERVE BANKS HIGHER. mereial, 15/10 (2). ' „ P™hts earned by _JNew aeaian _ , , VZ. d .Mortal i>u id) i/Ki/ii .. l/14/o Insmances.-South British, £4 17/9, £4 Newspapers, Limited, for the year ende The bright tone which has prevailed on "filou ot \ustrilia '* 8/11/0 " — li,/; New Zealand > J 1 - 3 n / (-'); A.l'.A., March 31 totalled £39,880, the highes the Stock Exchange throughout the week " 7 *' Starting as cautiously as usual after the £1 1/0; National, £1 1/7%. figures recorded since 1031. With th was maintained at this morning's call, and ,N SUflANCE— vacation, business on the local „^ 0 .™ l ?. n,c "!!,. aU &5} ?/' balance brought forward, namely, £15,7r. . i-.ii; ,. . , . . ... . National 1/1/4 .. 1/2/0 c .i i i • 11 i £U)i 7/6; 1940, £107 5/: 1949, £107 7/0; ,. , . . ,, r .,, m r ,,• blading was fairly animated, with recent New Zealand 3/1O/0 .. 3/11/3 Stock Exchange quickly assumed a con- j, )5r)j nl lr ,/ Rural Bonds, Septeni- tn,s makes a total of £65,603, trom wtuc values well held. Australian hanks were Kmitli British 4/18/0 .. 4/10/6 fident tone, and the week's turnover has her 15, 1947, 5 per cent, £103 10/ J Christ- an interim dividend at the rate of 6 pe a little firmer, but New Zealands failed to htllluliml 3/12/0 .. — been quite Sl ,b s tantial. Speaking gene- chinch Transport Board, 1955, 4% per cent per annum paid in October. £14,56: S d 1n r n \ S n y " B q " 0tCa bCUee " "S'™™ p, V1-/0 - 1,y - the *™*rT? »A?riteuSd in.iatlon^llo'^l^.mr^li^hi^reX £2 10/6 and £2 10/9. Kal . m- AllC- gg, '.*, f/14/0 :.* 4/2/0 the lm P rovcmcnt has covered all classes Harbour Board, 1954, 4% per cent, £108; recommend payment of a dividend, wlucl Wnihis eased on the latest announce- Farm. Auc. (£1) 10/5 " li/u of securities. Hamilton Borough Council, 1954, 4Vt per with the interim dividend, makes a. totr incnt from London, and after a sale at £2 farm. Aue. (A ,;ref.) l/2/O .. — j„ the bankine 'C tion the chief fea- cent. £108; Christehureh Drainage Board, of 5 per cent for the year, leaving to b 3/there were more available at that figure, J'.arm. Aue <B ,-rof.) l/l/O .. — . ,„.,,„ i. B iA min „ in Rp RPr ves 1959, 4% per cent, £107. carried forward £20,478. but buyers had dropped out. King Solo- S? 1 .; V10/0 .. 1/10/0 t. ie was a forth* hardening m Minjng .„waihi, £2 3/9 (5); Waihi The directors. record with great regre mons were steady between 4/3 and 4/7. 3 // River P?n ' P "~ " 7 !o/ c ' Wlth ° ° U lhul ' stli,v at £b Grand Junction, 4/5: Skippers, 2&d, 2%d; tll0 death 0 f their late colleague, Mi Insurances were again in demand, but Guarantee Corp. 5/3 '.'. — 13 / 3 > touched a new high level. Even Worksop 2/11; Golden Dawn, 2/6 (2); Walcot Wood , 0 f Christehureh Th Kellers of South British lowered their Loan and Mercantile 35/0/0 .. — at that figure the scrip seems good buying, Dredging. S%cl; Alaori t.ully, 1/7 vacancy thus caused has been filled by th reserves 6d, to £4 19/0. Farm. (B pref) 5/0 .. - fol . it shows 3% r cent per anmlln to {2); Alluyml Holdings, 1/0 (2); Upper appomtm ent of Mr. W. H. B. Flint ' Trad. Finance 'cent.) 2/0 .. 3/0 snows 074 pci cent pn uuuum Watut, 5/5; King Solomon, 4/5j Mount TJnVinK the year Mr. A. R. Brett was als Wgton. Invest. Trust the present purchase;. J.his estimate is Morgan, £1 17/8; Gillespie's Beach, 1/5%; appointed a director. The retiring dim SALES COMPLETED (10/ pai(1) — " 10/0 based on the 5 per cent per annum cumu- Okarito, 6/3 Talisman, 10/; Mahakipawa, tors Messrs. E. Anderson and W. H. E Coal— lative dividend, of which the first instal- 8% . d ; Gold Dredge, 5d. VVmt are nominated for re-election a PHt» m »« n 1/1 ,n 1/1/1! l 1 1 *• Australian, Etc.—Kauri, 19/, 19/3; t i lp annua l meeting to be bed on Wen __ lukemiio 1/1/0 .. 1/3/0 ment may be announced at any time, ninndu Venn rSvrltiPvl £2 5/0- f'nloniil 1 -vt 1AT THE 3.1 B P.M. CALL YESTERDAY Renown 6/0 .. 9/0™ 4 1 f+ i 1 ,1 ;, o in, Sin' Jo?' 'nesday, May 16. " WHT Rpnnwn tnrt,t\ °/i •>/(! J-' lc actual earning power of the bank is Sugar, £42 10/, £42 5/, £42 7/0 (2); „ . . _ .. Last Sale. TaupW . .......'::.\' - :: 18/0 only a conjecture, for the weekly returns Loan and Mercantile, £37 10/; Mount Comparison of Results. f s A £ . rt Taupiri (pref.) — .. 1/4/0 iv.i ,„._ , > „i ) p.i lp ,i „:,.„ milv tno vnmiest L > x>11 ' £1 0/9; Brit 'sb lobacco, £1 19/; The following table contains items takei Nat. Insurance . 117*.. 106 Wcstport ~~- .. 1/2/0 g« &esfthTt Dunlo P' J7 / 3 < 3 ) : Woolworth's (Sydney), from the profit and loss accounts sine United Building Westport-Stockton .. ,1/8 .. 2/0 £ea oft e class ot busmesstnat is being £4 g/9 £4 0/ . Morri Hedstrom, 18/9. the establishment of the company :— (Auck.) 0 19 S .. 1 0 8 Westport-Stockton p! — .. 4/0 t! ms icted. &til, w'th onh/ £o00,000 ol Dominion.—Wilsons Cement, £1 15/ Dividend \v«o«- «f«,.i-»„„ <v 1 1X1 « ¥ .? shareholders money in a total capitalisa- ,.., ,, T . ,„, o* ,i.<„., i/n i/mii. mviuena VZ brewer es '15 1*" 2 1S n GflS - tion of £1.500.000 the task of providing a Net profits. Dividend Payment. imnhn. .... 0173 •• 0 17 8 Auckland l/7/o .. 1/8/3 5 per cent dividend may not be too great 1 5^ w^■^1^ t2 i'^S^ A | £' Kate.- £ Morri's Ile.Vstrmn 0 M 0 0 18 0 Atickland (cont.) .... 1/0/3.. 1/1/0 -even in the early stages of the bank. J2§? ; ' * • S'liS ? aS'ORO Grand Junction 0 4/6 .. 0 44 Wbangarei - .. 16/0 The sharra undoubtedly would go still {«5 ; id?J '' *' S'ooo 5 : "' 125 Reserve; Bank ... a 13 3 .. 0 13 3 shipping— higher bur for theI restriction which pre- iv~ '''' q? nn? n 2o'lo§ ° U (CX ISO llOO nevonport Steam. .. 1/1/0.. l/4/O Veits theih being held by _ companies «/,'• <^ftS h Jg^ - 2^' ( *& 88 1111 8g> g^S Wilsons Cement 115 3 '.". 115 0 pKSJ Vofi " 1/19/ ° « New Zealands continued j with recent 1/2 ; Farmers' Trading. 7/4, (A pref. i™:> ....30,880 5 20,12u Waihi 2 3 3.. 2 3 9 Nnrl'stenn P o/io " ~T/l «nd sold np to 51/ the highest 18/(i . Pukemiro, £1 2/0; Farmers' For- Balinco-Sheet Items NortB. Steam. ...... 0/10 .. ,/l ]eveI ot the year> aftoi . w h lc h buyers tiliser 19/ 19/6: Dominion Breweries. Baiance-Ssneet fiems. AT THE 9.30 A.M. CALL TO-DAY— :sortl1 - Steam ' (coutJ X ' X •• 1 /° called a halt, and later offers to sell at Ut/ . Unitc(1 Building, 19/3; New Zealand Following are the principal items takei XZ. Insurance . 3 11 0 3 11 0 TIMBER— that figure were not accepted. The D D nl& £$ ; National Tobacco, £3 7/. from the company's last two balance Northern Steam. Kauri Timber 19/4 .. l/O/O mortgage issue also moved up, and a sale sheets:— (cont.) 0 12.. 012 U.O.I5 — .. 1/2/0 at 34/ was the highest recorded tor a LIABILITIES C!. Neon (Syd.) 2 S 3 .. 2 5 0 National 12/9 .. 13/10 considerable period. DrtPI/ DHTTrtB/l 9 11184 1035 Wilsons Cement _ „ Parker. Lamb — .. 3/0 Not much business was done in Austra- KUUr\ BUIIUIV1 .' ±u £*- , - ,,W>. I 1 ?. ;: •• a t in WOOLLEN— lian banks, but inquiry was better and Paid capital 582,500 582,501 UNLISTED. Wellington 5/19/0 .. — The insurance section was as popular as scmc du,iu_ -t.jor Auck. Trot. Club „„„., ever all(1 valuea u B ilin moved up. South LATEST FROM SMITHFIELD. ASSETS. 1/4/39-44, 04 . 100 0 0 .. — BREWERIES— British were most favoured, selling up to Land and buildings .. 170,771 100,261 C. L. Innes fpref.) .. 18/0 .. — 99/, the record level reached just before Machinery and plant . ll_i[}44 1 7 7 .';!T[ N.Z. Breweries .... 2/15/0 .. — Easter. Since that date a 1/4 dividend T i, e following cable, dated May 1, has , s , ,<K ' k . //•••. lonnnn itn'on AFTER THE CALL. Ttaaru (7/0) - .. 8/0 haa been pjli(1 , so that the latest trans- bv the Bank of Australasia -T^os, Xul i/13/o .. — actiou represents a further substantial f rom its London office:— rnvestments .......:. 188,940 I7t,i!>: . , m . , Aln - ftln o MISCELLASIEOUS— llse - . . _ . New Zealand lambs: Although demand Cash 28,271 20,02? Kauri Timber . 09 7 .. 0 10 3 Antl Hordern .. 17/0 .. 18/3 _ Fixed Term issues. continues to be good, shipments-are still Totnlaaaeta «"o8i82 70340f Com Bank .... 0 lo 11 .. 0 lo 10 Australian Glass ..... 2/18/ti .. — Government stocks were m insistent very heavy) cau8i^g a depressing effect on lotal assets «08,18- 703,4Ut Northern btcam. „ o 1 ° A,lst - Iron - s teel (pf) 1/2/6 .. — demand, with buyers ready at each call the market. Prices are steadier at present The net result of the changes shown in •R„nv nf Nz"" a 10 6 :: 2 11 O British Tobacco 1/18/3 .. 1/19/0 for any of the listed issues at prices well and tnero j_ a K trong feeling that prices the above table is that while outside VkHarb Board" Broken Hill l'ty. ... 2/13/0 .. 2/13/0 up to late rates Sellers, however, ,,. 1V( , reacbe d their very lowest. New liabilities have decreased by just over >40 4l' 10210 0 .. — S7 c *T t xr «*,;*v"' -/ 10 /" •• ~ xjn scarce. Not till the close ot the wcck Z ea j an d mutton: There are more inquiries £6000, total assets are higher by a similai rinndo N,um sOdl '* "7s/o " — Were i ? ales iP nt through, and with one for wetherB and e wes, but owing to large amount. .ZT,.*™ Colonialisu4r — " 4-/7/0 exception the transactions represented Bt , p p K es no Bign of improvement in prices . INTEREST BATES. cSmoI Brifk - '* 8/9 B ailis to vendors. The exception was the ia {.\\ xc time h be ing. New Zealand beef: Dental and Medlcai". 8/0 .. — ™ ™ a " c > which, after being on oiler all ]) emall(1 ant i pr i ce8 aro ste ady and no RYPRflFT I Trl , Dom. Fertiliser .... 1/1/6 .. — the week at £113, was ultimately quitted ma t er ial change is anticipated. DTUnUri, LIU. The return to the investor on his Dunlop, Perdrlau ... 17/2 .. 17/4 at £11115/. There is evidently a strong ontlav based upon the latest dividends, Dunlop. Perdrlau (pf) — .. 1/16/6 demand for all fixed term securities, and works'out as follows on the latest sales. Elect Zinc ........ 1/4/6 .. 1/5/6 odd parcels of local body debentures that QniiTUpRW PYPHfll\lf5F<5 INCREASED NET PROFI'l'S. S™ pLprnrnent stocks are included, Elect. Zinc (pref.) .. l/ij/0 •• — beC oine available are quickly snapped up bUUIHtKN tAUMAIMutO. isss «i£v? mm i ;; =* KvSSjgss -■=« —™ - ease local body issues, allowance is also mil and Plummer .. TT/8 .. - l_o Christehureh Transport Board, Christy n?nrln for 20 tier cent interest reduction:— H.M. Arcade (pref.) . 10/0 .. — , church Drainage Board Auckland lians- Slightly increased profits are disclosed made for per cent interest r K.D.V. Box (pd) ... — .. l/2/O port Board. Auckland Harbour Board and CHRISTCHURCH EXCHANGE. in the annual accounts issued by the direcPER CENT PER ANNUM. K.D.V. Box (10/ pd) 9/3 .. IO/G Hamilton Borough Council. tors of Bycroft, Limited, for the veal £ s. d. Milne and choyco Minina " ended .March 31. The figures are £10,690, Wilsons Cement 3 11 0 (deb. st ock .-. .... — .. i»/« _ m '""'»f . (By Telegraph.—Special to "Star.") compared with £10.505 the previous year. V$ Vg%ff&Z& :: „ __ a™™** * **- » ZgjX: fiS » SSESU! Grand 0 6 4 n.z. Refrig. (cont.) .. 8/7 .. 9/3 ently gratifying to! ™ «c«.in 8 ome. rastanMi. New Zealand and adeq „ a te provision has been Seserve Bank .I 3 15 0 Peter's Ice fN.Z.) ... - .. 1/10/0 to receive in addition to tlf !««>■' Breweries again attracted attention, ma i nta i n ed for income tax and bad and Unira OU ...--— — 4 7 9 PWUipps and Impey . 2/16/0 .. - dividend of 1/, an interim ««* »" ecll ng freely on a rising market and doubtful debtB .» Tll0 directors recom- ?„ 0 S n IC ° "" 3/0 ?* { l^ hl f„\Z-» closing with buyers offering more than the d fi , dividend of y X „ or share .!,__ 'Santord -/o .. a/u to emphasise that the ntcnm payment x JeB price making a total dividend for the year of CALL AND DIVIDEND LIST. Sanford (pref.) - •• docs not necessarily indicate an increase Manawa( S Knitting Mm 8 , which have 2/ne?share. - s »° 4/6 " — J" this year's annual dividend, but share- j ,■ ,„ oro i 0(:il l attention lately than for '„f • r < m 1— xx " , Sou "" 1/8/0 .": ■ -1/9/6 holders are not likely to be perturbed by fwoaWf and B 3*,° rc . tlnn - $2&>V M '"' , ] T 1C H ; DIVIDENDS. wairakei .''::::::: *% ..■■- this warning. The trading results amply Sr/Timber were strong from *Mes, « *Sf il e ' ele £ r- , „„ ni n B nar 0 Now" WU combe Tombs' '. . J* .. 4/7/0 warrant the additional distribution, and Mount Lyell recovered from, '•^'"»" al '» ct ."K to be held on WednesWhlttome Stevenson 11/7 .. - the financial position of the company .* the recent lapse, buyers offering £1 0/1 at Mnv lj - tank of * g Wilsons Cement ... 1/15A •• 1A5/4 strong en0ll?h to ensure payment of 2/ tbe olose , witb 8e iiers 2d above. Past Years' Profits. 21 p.c. May 10 Woolworths (N.Z.) .. ll/0/O .. 11/2/6 h th .end-d Waihi secured better offers following The earning power of the company is \tosgiel Woollen-Int 4pc .... May 13 |NQ _ further profits are now announcenien t of a dividend, selling up seen in the following figures, taken from troken Hill Proprietary—Int,, 1/ May 15 mininiu and December 31. It would appear mat £33/2, with more wanted at that tllp m . ont aiu l loss account over a term National Insurance—Int.. 4d .... May 15 BIg RJver 2/4 .. 2/7 the market had been anticipating a bonus ' the pi loss account o\ei a term Macky. Logan, Caldwell—3 p.c. . May 15 Bla * ckwa ter 1/10/9 .. 1/12/0 5sgue at a comparatively early date, and u S ure - ol years.— N.Z. Newspapers—Pinal, 5 p.c. Consolidated Gold. . 16/0 .. 17/0 f tl ig point 0 f v j ew the notification , NET PROFITS. p.a. ..............;•••• Sav 15 Gillespie's Beach ... 1/4 .. 1/6 proposed changes in the eonsti- (By Telegraph.—Press Association.) . £ fi fSWVpc'pf ..'::: mS P 0 , 1^ nd r> n w^ dlnSS " ** SAO S««?wifi not take pfico till the Eng- CHRISTCHURCH, this day. 1924 ... 0,052 1080 ...11.200 s a May 20 gSwflelo? D«dg: !!! 0/4 " 0/0 lish autumn may disappoint some holders, Sa , e8 ._ GoWs brougl,. Mort, £110/3; New J9|5 .. 0,481 193 ...10,880 Donnghy's Rope— Final, 1/3 .... May 20 Enurak, ■Consolf . .. —' •• 1'0 and there has been a weakening in the Zca]uim Refrigerating (10/ paid), 0/1; Jg26 ... 0,462 1982 ... 0,022 Hnnk of New South Wales—Quar- King Solomon .. 4/3 .. 4/7 shares, which had lately been forced up to New Zealand Breweries. £ 2 10/3 (3 par- 1»27 ...9.018 1088 ...0,489 terly, 5/ a share May 20 K-miitft Seefa ...... 5/0 .. 0/0 record prices. eels) S Broken Hill Proprietary (cunvdlv.), ];- s ••'JR'S?? ;t- '' 1 ',' : .' Farmer's' Trading, A and B pf.- .. „. KlV™ . - -.. 0/0 U A°mnnS«t other issues Grand Junctions £ 2 13/3; "Sun" Newspapers, 5/ (3 par- 1020 ...10,554 103o ...10,0.)0

in:j4. 1035. £ £ Paid capital 100,000 100,000 Reserves 82,025 83,009 Sundry creditors and tax provision 151,008 04,423 ASSETS. Land .„ :2,r.oo i7,nic Buildings ' 38,850 38,527 Machinery and plant . 15,4:10 13,089 Sundry debtors 30,080 38,080 investments 10,802 10,702 Stocks 58,268 70,701 Cash 15,345 17,504 Total assets 102,720 207,900