COMPANY AFFAIRS.

Auckland Star, Volume LXVI, Issue 266, 9 November 1935, Page 4

COMPANY AFFAIRS.

KAURI TIMBER. INCREASED PROFITS. A net profit of £39,300 was earned by the Kami Timber Company, Limited, Melbourne, for the year ended August 31. This represents C>Vi per cent on capital and js an advance of £18,000 on the previous year's earnings and £28,340 on those for 193;5. The company is paying a dividend ot ;> per cent, against 3 per cent in the previous yea). - . MOUNT LYELL. INCREASED PROFITS. The net profits of the Mount Lyell Mining and Railway Company, Limited, Melbourne, for the year ended September 30, were £65,012, after writing off £01,672 for prospecting, development and depreciation and £5012 for taxation. This compares with £0374 earned in the previous year after writing off £32,480 and £1483 respectively. A dividend of 0d a share, absorbing £38,750, has been declared out of profits resulting from operations other than mining. It is payable in Australian currency on December 10. The dividend equals 2V2 per cent for the year and compares with no distribution in 1934, 2VS per cent in 1032 and 1033, ;> per cent in 1931 and 10 per cent in 1030. The profit in 1030 was £131,178, but considerably lower profits were earned in succeeding years.

SHARLAND AND COMPANY.

INCREASE IX PROFITS

At the annual meeting of Sharland and Company held to-day definite signs of recovery in the wholesale pharmacy trade were reported, and the chairman, Mr. A. E. Mabin, made a brief reference to the possibility of establishment of chemists' chain stores in Now Zealand, but the subject was not further discussed. The net profit was £837 higher than laefcyear, and alter providing for the usual dividend of 5 per cent, income tax, depreciation and bad debts, there was left £1050. increasing the carry forward to £0128. The retiring directors and the retiring auditors in Auckland. Wellington and Duncdiu were all re-elected.

DALGETY AND COMPANY. LESS PROFIT THAN LAST YEAR. (By Telegraph. —Press Association.) WELLINGTON, Friday. Dalgety and Company, Limited, has received advice from its head oilice, London, that at the annual meeting to be held on November 21. the directors will recommend payment of a final dividend of 2% per cent, making 5 per cent, unchanged, for tlie year ended June 30. The dividend will be payable on November 28. The directors propose transferring £10,000 to the staff provident fund and carrying forward £110,300. On the figures available, the net profit for the year is £0P,322, a decline of £10,753. _ Following; is a comparison of results for the past three years: — 10.T1. 1034. 1030. Hrniißht forward £liio,4ou £131.003 £120.47S Net profit 83,488 3 07.r>75 00.822 £241,1)03 £2.'!0.478 £220,300 Staff fund 10,(100 10.000 10,000 Dividends- - I'rcf., r> p.c. . 2.".n00 2n.0n0 2.1.000 Ord., 5 p.c. . 7.">.000 75,000 7">,000 Carried forward £181,003 £120,478 £11C,,'!00 Dividends are payable in sterling and ire free of British income tax. FARMERS' TRADING CO. PREFERENCE DIVIDENDS. The interim dividends on the preference capital of the Farmers' Trading Co., Ltd., will bo paid on November 30. On the A and B preference shares the rate is 7 per cent per annum, less the statutory reduction of 20 per cent, making 5 3-5 per cent, while the return on the C preference shares, which were issued recently, is 5 per cent per annum.

NEW PUBLIC COMPANY. Tile following new public company has been registered at Auckland:— Adjustaflo. Limited, makers of improved food control for infants' feed bottles. Capital. £2000 in 1000 preference shares and 1000 ordinary shares of £1 each. Subscribers: P, E. TCames, 70 preference shares; V. Kirk, W. J. Foote, W. W. Dove, A. B. Rainger, E. S. Coutts, E. B. Bindon, W. A. Webb. W. J. Sexton, E. Elliott. L. Harrison, R. C. M. Laird, G. H. Masfen, J. Crisp, 20 preference shares each; W. P. J. Anderson, N. H. Newcomb. F. W. J. Prosser, V. Stacey, C. A. Snedden, R. B. Wilson, R. D. 'Horton, K. H. Wilson, M. W. Shroff. M. H. Shroff, H. V. Clioyce, T. H. Pettit, W. A. Turner. ■T. R. Kingston, R. Dawson. J. Garfleld Stewart, F. G. Lintott, 10 preference shares each.