COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 233, 1 October 1936, Page 4

COMPANY AFFAIRS.

"TARANAKI DAILY NEWS." CHANGE OF OWNERSHIP. (By Telegraph.—Press Association.) NEW PLYMOUTH, Wednesday. From to-morrow the ownership of the "Taranaki Daily News" will pass from the present proprietors, the trustees of the estate of the late Mr. T. C. List, to a private company. The directors of the new company, the Taranaki Daily News Company, Limited, are Messrs. J. C. Nicholson, Gordon Eraser and L. A. Nolan, all of Taranaki, and the secretary is Mr. C. H. Wynyard. Messrs. Nicholson and Wynyard are the trustees of the List Estate. The new proprietors announce that the newspaper will be conducted by the same management and staff as have carried it on since Mr. List's death. There will be no change in policy. THAMES THEATRE. INCREASED DIVIDEND-5 P.C. A higher dividend of 5 per cent recommended, and a net profit of £491, are the features of the report for the year ended August 31, of the directors of the Thames Theatre Company. Last year's net profit was £401 and the dividend paid was 3 per cent. The directors report that the arrangement under which the two local theatres are worked under joint control continues to prove quite satisfactory. Reconstruction work during the year have cost £743. The retiring directors, the Hon. A. Burns, M.L.C., and Mr. J. Kernick, are'nominated for re-election at the annual meeting to be held on October 6. GREAT MONEY SPINNER. NORTH BROKEN HILL. (By Telegraph.—Press Association.) WELLINGTON, this day. Cabled advice has been received by the Stock Exchange Association of Ncw Zealand that the audit of accounts of North Broken Hill, Limited, for the year ended June 30, just completed, shows the net profit of the company, after providing for depreciation, taxation, and royalties, amounted to £036,940.

North Broken Hill, with a paid capital . of £700,000, is one of the most important companies of the Barrier group, interest in which has been greatly stimulated over the last few months by the firmer market ruling for base metals, of which lead is tiie chief product of the company. Recently North Broken Hill announced its intention of paying a quarterly dividend and bonus of 5/ a share this month, being at the rate of 100 per cent per annum 011 capital. I Net profits in recent years have been: i 1033, £195,505; 1934, £303,355; 1935, | £420,083 1936, £636,940. The £1 shares ' | have been selling lately up to £9 13/6. ! NESTLE AND ANGLO-SWISS (AUS.). | ORDINARY DIVIDEND 3 PER CENT. | Nestle and Anglo-Swiss Condensed Milk I Company (Australasia), Ltd., reports a 1 net profit of £107,884 for the year ended I June 24, compared with £106,849 for the previous year. Dividend of 8 per cent on preference shares accounts for £80,000, j and the ordinary dividend, raised to 3 I per cent from 2% pel ce-.it, absorbs £30,000. With £5357 brought forward there is carried forward £3242. The profit has I been struck after writing off £40,000 from goodwill, adding £52,400 to the deprecia- | tion reserve, and transferring £40,000 to I taxation reserve. The previous year the 1 allocations were: Off goodwill, £20,000; to I depreciation, £52,400; and to taxation I reserve, £35,000. Year ended June 24, . 1034. 1935. 1936. £ £ £ Net prolit 96,003 106,849 107,551 Dividend— Pref., 8 p.c. .". 80,000 SO.OOO SO.OOO Ordinary 1J 21 3 Ord., amount . 13.000 25,000 30,000 Carried forward 3,508 5,357 3,242 NEON SIGNS (AUSTRALASIA), LTD. DIVIDEND 10 PER CENT. Neon Signs (Australasia), Ltd., report a net profit of £5734 for the year ended j June 30, compared with £3689 the preI vioufi year, and £2342 for 1933-34. The I dividend is unchanged at 10 per cent, re- ■ quiring £5371, and £600 is transferred to reserve, leaving £471 to be carried forward, against £708 brought forward. The directors state that the company met with keen competition during the year, but sales showed a considerable increase, principally because of the new patents and processes acquired. Owing to the company's increased activities, the directors made "a further issue of 40,000 shares, which were taken up by shareholders. Recently a call of 10/ was made, and tile directors state that if business continues to expand a further increase of capital may be necessary.