COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 65, 17 March 1936, Page 4

COMPANY AFFAIRS.

MILNE AND CHOYCE, LIMITED. INTERIM DIVIDEND PASSED. The directors of Milne and Choyce, Limited, following the practice established in recent years, have decided not to pay interim dividends 011 the ordinary shares and debenture stock and the preference and' B preference shares. Consideration of dividends will be deferred until the year's accounts, which close on July 31, are available. METTERS (N.Z.), LTD. NET PROFIT £5352. The ninth annual report of the directors of Metters (N.Z.), Ltd., states that sales for the year show a very satisfactory increase. The demand for baths has been such that full time has been worked throughout the year.

After making provision for depreciation on buildings and plant and for income tax the accounts for the year ended December 31 show a net profit of £5352, compared with £2864 the previous year. The directors recommend payment of a dividend of 9d per share. This is equal to 6 per cent on the capital of the company, which now stands at £64,937, in 12/6 fully paid shares, to which figure it was reduced from £96,950 in £1 shares last year. The report states that extensions to buildings and plant are to be made, and in this connection the works manager recently visited Australia. REID RUBBER MILLS. NEW SHARE ISSUE. To enable extensions to premises and substantial additions to the plant of the Reid New Zealand Rubber Mills, Limited, Auckland, it lias been decided to issue a further 4000 £1 shares from the unissued capital, and to call these up to 15/ a share, the same amount as is paid ou the contributing capital, according to a circular issued to shareholders. The terms of payment will be .1/ a share on application, 5/ 011 allotment, and the balance of 5/ to be called up at the discretion of the directors, but not earlier than two mouths after date of allotment. Shares will be offered to present holders at par.