COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 149, 25 June 1936, Page 4

COMPANY AFFAIRS.

GOLDSBROUGH, MORT. NET PROFITS INCREASE. YEAR'S DIVIDEND 7 PER CENT. Substantial increases in both gross and net profits are disclosed in the annual accounts of Goldsbrough, Mort for the year ending March 31. The annual meeting will be held in Melbourne to-morrow, and the directors will recommend a final dividend of 5 per cent, making 7 per cent for the year, compared with 0 per cent for the previous year. Gross profits at £05.8.000 are the highest since .1930, when £795.752 was earned. Xct profits at £179,917 show an increase of £75.729 over the previous year. A comparison of accounts with those of 1934-35 is made below:— Tear ended Mar. 31, 1033. 1930". £ £ Not profit 101,1SS 179,917 Dtvideud, p.c <; 7 Dividend, ii mount . 144.000 lOR.OOi) To provident fund. 3,000 5,000 Kurward KSi,37<i K!S,2O;i Gross profit 0(i<i,4:23 «r>S,l'.)3 LIABILITIES — Capital 2,400,000 2,400.000 lichen turo Stuck A. . 535.235 ,53.5.2;!0 Debenture Stock I?. r>80.407 r>SO,4(!4 Keacrvc funds 1.525,000 1,525.000 Sundry creditors, etc. •394,000 *343,504 ASSETS — Cash and deposits . 190,537 784,002 Government a n <1 other securities .. 1212,002 207,903 Primary re serve investment 100,108 100,KiS Accrued interest on investments 0,525) 8.424 Hills receivable 2.595 4,21.") Advances 4,(i4."i.3!13 4,07H,85)i Properties and stock 220,755 210,107 I , remises 1>04.345 015,402 Shares 34,888 3(1.11-1 Other assets 90.572 105,011 Total assets C,1(»0,547 6,152,88.1 •■Sundry creditors, deposits, provision for taxation and interest accrued on debentures. In their report the directors state that the increase in net profit is due mainly to the recovery in the price of wool, though all sections of the business have contributed to the increase. A disastrous fire occurred at the main wool store in. Sydney on September 25, but all damage was covered by insurance. New offices in Adelaide were opened in January, and branches were established at Longreach, Queensland, and at Hay, X'ew South Wales. In August last Mr. J. M. Xiall resigned the position of chairman of directors, and Mr. K. M. Xiall was elected in his stead. Mr. J. M. Xiall is still managing director. HILL AND PLUMMER. DIVIDEND IXCREASE TO 0 PER CENT A satisfactory year, with increases both in profit and dividend, lias been recorded by Hill and Fluniiner, Ltd.. whose annual meeting was held this week. The acting chairman ot" directors, Mr. T. U. Weilo. informed shareholders that sales during the year ended April 30 were well above those of the previous twelve months. After making provision for the payment of income tax and usual depreciation there was a net profit of £3508, and it waa proposed to pay a dividend of 0 per com, absorbing £3408. Chief items in the balance-sheet were:—Liabilities: Paid capital. £56,786; outside liabilities, including £700 tax provision. £9511. Assets: Fixed assets, lens depreciation and including Federal Street property at £20,870, £20,347; cash, £990; sundry debtors, £10,702; stocks, £20,798; investments. £4651. Xei profits in recent years have been: 19.34, £2470; 1935, £2oSl; 1930, £3595. Last year a dividend of 5 per cent was paid, and the year before it was 4 per cent. NEW BREWERY COMPANY. KEEN DEMAND FOR SHARES. (By Telegraph.—Press Association.) CIIRISTCHURCH, Wednesday. Ballin's Breweries (X'ew Zealand), Ltd., a new Christchurch brewery company, formed to take over the businesses of Hickmott's Victoria brewery and Ballin Brothers, Ltd.. went to allotment yesterday. Before the issue of the prospectus an amount had already been contributed greatly in excess of the minimum subscription of £63,144 required. NEW REGISTRATIONS. The following new companies have been registered in Auckland: — Public. Cromwell Hydro-Electric Gold Dredging, Ltd., gold mining, etc. Capital: £39.0;i0 in 240,000 preference shares, and 550,000 ordinary shared'of 1/ each. Subscribers: ■T. A. Sparrow. W. R. Budge, R. W. Lock, O. X*. Johnston. R. Porter, H. G. Milburh and G. J. Stitt, 1000 preference shares each. Private. Bridgene and Company, Ltd., footwear manufacturers, etc. Capital: £80,000 in £1 shares. Subscribers: 1 ,, . H. Bridgens, E. G, Bridgens, F. A. Bridgerw, 21,000 shares each: L. A. Bridgens, C. B. Bridgens, 2600 each; H. E. Bridgens, R. D, Bridgens, 800 each; Hazel May Steven, Alice Louisa Ida Daniels. 467 each; L. R. Lindsay, 900; P. R. Bridgene, 466; C. H. Robertson. 600; H. "W., Shove, 0400; G. P. Winks, 900. Alder and Company, Ltd., motor agents, garage proprietors, etc. Capital: £1500 n £1 shares. Subscribers: H. M. Alder, 1390 shares; E. L. Alder, 100; M. J. STardington, 10.