COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 128, 1 June 1936, Page 4

COMPANY AFFAIRS.

ROBINSON'S ICE CREAM. DIVIDEND 6 PER CENT. , ' Slightly lower net profits and a dividend at the rate of 6 per cent are disclosed . in the fourteenth annual report of Robinson Ice Cream, Ltd. For the period ended April 30 net profit i was £3773,' after writing off £3616 for i depreciation * and allowing £1164 for in- , ' come tax. ' The directors recommend the j. payment of a dividend of C per cent for tl the year, which requires £2160. The c balance brought forward totalled £4413 ! and the amount to be carried forward , s ] after payment of the dividend will be |\ £6026. e I Chief items in the balance-sheet are: — t Liabilities: Paid capital, £36,000; sundry t . creditors* £537; income tax, £1250. [- Assets: Land, buildings and plant, t £42.288: debtors, £655; stock, £614; a bank, £2415. Total assets at £45,973 comli pare with £45,602 last year. ' Results Compared. Results from recent accounts have been as follow: — Net Depre- !; profit. elation. Div. Year. £ £ P.C. y 1032 3042 3632 8 ', 1033 841 3652 (! | 1034 1005 3415 6 1035 4036 - 5101 7 1036 3773 3610 G I NATIONAL BANK N.Z. t NO CHANGE IN DIVIDEND. (By Telegraph.—Press Association.) £ .WELLINGTON, Thursday. The National Bank of New Zealand j; lias received cabled advice from its London office that the board of direc- | tors has recommended payment of a final (Kvid'end at the rate of 4 per cent per i annum for the half-year ended March 31, making 4 per cent, free of tax, for the ; year. 1 The year's dividend is unchanged and 3 is equivalent to £4 18/10 per cent in New I Zealand currency. 1 DUNLOP, PERDRIAU CO. ; HIGHER PROFITS EXPECTED. , i The directors of the Dunlop, Perdriau 1 | Rubber Co., Ltd., Melbourne, announce that indications are that the profit for ( the current trading year ending on June j3O next will show a substantial improve- ; ment over last year. Last year the company reported profits ■ of £143,016, a reduction of £144,913, and

■ i the dividend on ordinary shares was ; passed. Since then the company has been : reorganised. Over the past two months market prices for the company's shares have risen from 14/ to 17/8.: . DOMINION SCREENS, LTD. _ NET PROFITS £7735. The annual report of the directors of Dominion Screens, Ltd., for the year ended M'arcli 31, record a satisfactory i year. After making provision for writing of! , a portion of the contract with Amalgamated Theatres, Ltd., for screen rights and services, and for preliminary expenses, and setting aside the sum of £2541, as a reserve for income tax, the sum of £7734 I 19/1 was available for distribution. Divij dends agreed to are as follow:—Preference ! dividend of 7 per cent- for the year; ordinary dividend of 2/4 per share for the year, in each case after deducting interim dividends paid during the year. The retiring director, Mr. M. J. Moodabe, was re-elected to the directorate. The directors have declared interim dividends for last month as follows: —Preference dividend for one month at the rate of 7 per cent per annum; ordinary dividend, 3d per share. The balance-sheet shows:—Liabilities: Paid capital, £30,000, and sundry creditors, £291. Assets: Screen rights afid services, £25,909; sundry debtors, £2681; deposits at short call, £3794. j morris motors. I PROFITS DOUBLED IN 1935. j A remarkable showing is made by the annual report of Morris Motors. Net profit for 1935 amounted to £1,315,533. This figure, which is more than double that of 1934—the exact total for that ; period Waa £643,757—is the highest for j eight years and after providing for prcferi ence dividend is equal to 48 per cent, less ! tax, on the privately held ordinary capital. | The board is raising the dividend from 10 per cent to 15 per cent—both rates are free of tax—and is placing £600,000, against £150,000, to reserve, raising . that fund to £2,750,000. Including the "cany forward," the reserve is brought up to nearly £3,000,000, which compares with an issued capital of £5,269,000. Thanks to the conservative policy consistently adopted by the management the company is now in a financial position of exceptional strength. Investments in high class securities stand in the books at £3,810.000, and cash at £1,617,000. Adding debtors and stocks, floating assets amount to nearly £7,000,000. The company has no debenture debt, and its current liabilities are no more than £726,000. NATIONAL TIMBER CO. At the annual meeting of shareholders in the National Timber (Jo. the chairman of directors, Mr. G. J. Browne, referring \ to the recent purchase of property, said this would add several years' cutting to the bush assets already held. The work of overhauling the machinery and buildings had progressed further, involving the expenditure of considerable sums. Stock.* of seasoned high-grade timber were in very short supply and opportunity would be taken to augment stocks when roads ito the newly acquired bush had been completed. The chairman stated that prospective higher labour costs would mean increases in the cost of sawn timber. Milling companies dealing with a wasting asset were entitled to a fair return on capital invested. There was, he concluded, still a considerable demand for timber and it seemed that this would continue. A dividend of 2% per cent was declared, •making 5 per cent for the year. [ The retiring directors, Messrs. G. .J. Browne and J. A. Lamb, were re-elected, and Messrs. Gilfillan and Gentles were reappointed auditors. BRITISH TOBACCO. The Auckland Stock Exchange has received a cabled message to the effect that the British Tobacco Co., Ltd.. has announced a quarterly dividend of 1% per cent, the same as last quarter. Last year a dividend of 6 per cent was paid in quarterly instalments of 1% per cent each. TONSON, GARLICK COMPANY. A meeting of shareholders in Tonson Garlick Compan.v (in liquidation) has been called for Wednesday, June 17, to received an interim report from the liquidators, and to approve their action in leasing the Lome Street premises. NEW PRIVATE COMPANY. ' The following private company has been registered in Auckland: — Te Awamutu Finance Company, Ltd.. money lenders, Te-. Awamutu. Capital £1000 in £1 shares; Subscribers: W. S. Hopping, F. H. Terry, W. O. Sinnott, W. Swain, 250 shares each. DAIRY PRODUCE. Messrs. Joseph Nathan and Co. have received the following cable from their London principals, Messrs. Trengrouse and Nathan, Tooley Street, dated May 31:—Butter: 103/ per cwt. Quiet. Cheese: 58/6 and 56/6 per cwt. Firm.