COMPANY AFFAIRS.

Auckland Star, Volume LXVI, Issue 281, 27 November 1935, Page 4

COMPANY AFFAIRS.

TOOTH'S BREWERIES. INCREASED BUSINESS. DIVIDEND 10 PER CENT. Accounts of Tooth and Co., Sydney, brewers, for the year ended September 30 disclose a net profit of £628,699, compared with £5G7,118 in the previous period. As announced in the "Star" on November 21, the final dividend is 5 per cent, making 10 per cent for the year, an increase of per cent. In addition, the company in celebrating the centenary of ■brewing at the Kent Brewery, Sydney, by paying a special centenary bonus of 2Vz per cent and by issuing additional shares for subscription by shareholders at par, in the proportion of one new share for every ten shares held.

A transfer of £.50.000 is made to the reserve fund, making it £850,000. Interim and final dividends absorb £.56-2,059 and £20,515 is appropriated toward the special centenary bonus, leaving £43,833 to be carried forward, against £47,708 brought into the accounts.

The special centenary bonus to be paid in cash requires £140,515, and if the resolutions for its payment are passed, the sources from which the bonus will be paid are: From reserve fund, £100,000, being that portion added to the fund between 1888 and 1900; from reserve for depreciation and securities, £20,000, being the amount added to that reserve during 1913; and the balance, £20,515, from current profits. The sources are such as will give a maximum exemption from income tax in the hands of the shareholders, but the directors state that there will be some taxation payable by certain shareholders that is unavoidable.

Following is a comparison of the company's results for the past three years:— 1933. 1934. 1935. Brought forw'd £47,093 £44,547 £47.708 Net profit ... 482,204 507,11S 025.099 £529 t 297 £011,065 £070.407 Resorvc — — 50,000 Hep roe. reserve — 25,000 — Benefit fund . 7,000 5,000 — Dividend— ' Percent.... 81 95 10 Amount ... 477,750 533,957 562,059 Cent, bonus, 2J per cent ... — — *20,515 Carried forw'd £44,547 £47,708 £43,833 •Only portion paid from current profits. ORIENT STEAM. INCREASED PROFITS. (Received 10 a.m.) SYDNEY, this day. According to a cablegram received by the Sydney office, the Orient Steam Navigation Co.'s working profit and interest for the year amounts to £342,223 and profits fro-m investments £191,755, from which £219,811 is set aside for depreciation, leaving a net profit of £314,167, compared with £190,343 the previous year. The sum of £150,000 is transferred to the general reserve account. Dividends of 5 per cent on ordinary shares plus preference shares absorb '£134,302, and with £85,302 brought forward £115,166 is carried forward. S. R. MAXWELL AND COMPANY. A dividend of 3/ a share is payable to shareholders of S. R. Maxwell and Company, Ltd. (in voluntary liquidation), Island traders. The dividend is the first since the company went into liquidation a year ago. The company lias a capital of £30,000 in shares o>f 10/ each.