COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 21, 25 January 1936, Page 4

COMPANY AFFAIRS.

[ AUCKLAND GAS COMPANY. ' HIGHER PROFITS LAST YEAR. \ * 'j DIVIDEND RATE UNCHANGED. i i ! ; Increased profits were earned by tin . ' Auckland Gas Company for the yeai ended December 31. The report issuec : j by the directors states that the profits : after deducting working expenses, ratei • and taxes, depreciation and other charges I i.mount to £78,641. To this is added tin : carry-forward from last year, £2203, anc ' iioiu the resultant total, £80,844, till ' amount of tile interim dividend, £30,936 is deducted, leaving a balance to be deall .' with £49,907. From this £10,000 is 6el ' ! <.side as a reserve for the redemption o: debentures, anu the directors now recom mend a final dividend of 2% per cenl ' for the half-year, absorbing £30,037 leaving to be carried forward the sum o( £8970. The retiring directors, Messrs. W. 11 , Wilson and E. R. N. Russell, arc nominated for re-election at the annua! meeting to be held on February 3. Following is a comparison of the company's results for the past three years: — 1933. 1934. 1035. Brought forward £U(iß £1,074 £2,203 Net profit 71.070 68,002 75,64(J 72,047 69,076 80,813 Income tux res. . 10,000 5,000 — Debenture res. . — — 10,000 Dividend, oi p.c. 61,873 61.573 61,873 Carried forward £1,074 £ti,203 £8,070 THOS. COOK AND SON (BANKERS). Commenting on the annual accounts of Tlios. Cook and Son for the period ended October 31, the London "Times" says:— The various cash items amount to £2,587,G50, and are equal to 79.8 per cent of the deposits, which amount to £3,241,664, compared with £3,182,992 in 1934. If to the cash bo added £95,000 of •money employed at call and short notice, and £102,696 of bills, deposits are covered by liquid assets to the extent of 83 per cent. This high liquidity has been a consistent and outstanding feature of the bank's balance-sheets since its inception. The published reserve fund is £125,000, and is equal to the issued capital. Substantial internal reserves are held. Of the investments which stand in the balancesheet at £486,530, £408,982 is represented by British Government securities and £50,057 by India Government securities.