COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 243, 13 October 1936, Page 5

COMPANY AFFAIRS.

TARANAKI (N.Z.) OILFIELDS. CALL OF ID PER SHARE. A call of Id per share is to be made by Tavanaki (>7.Z.) Oilfields, No Liability. In their report the directors state that there have been further negotiations with overseas interests. They hope that these negotiations will be brought to a satisfactory conclusion and result in a resumption of drilling in the Dominion. The proceeds of the proposed call will be used to meet the cost involved in servicing the company's plant and protecting its oil rights, pending completion of the negotiations referred to. The report states that tlie wells of the Moturoa Company, in which the Taranaki Conipany holds 80,400 fully paid 5/ shares, have been in continuous oil production. In January. 1936. the Moturoa Company paid a dividend of 6 per cent per annum upon its preference capital in respect of tlit" two yens ended August 31. 1934. The Taranaki Company holds 5300 of these shares. Tlie balance-sheet shows paid capital £577.510. Total expenses for the year were £585 and receipts from commission and dividend were £67 4/8. WAIHI INVESTMENTS. PROFITS TOTAL £6707. DIVIDEND OF 3 PER CENT. Cabled advice of the first accounts oi Waihi Investments and Exploration, Ltd.. has been received from London by the New Zealand attorney, Mr. R. G. Milligan. At the annual meeting on October 22 the directors will recommend a dividend of 3 per cent, less' English income tax at 4/0 in the pound, payable on November 12. The accounts show that for the period ended September 30, 1936, the profits were £6707. The capital reserve account stands at £219,976, and tlv main assets consist ot Government securities, £307,100; shares in I'uket Tin Dredging, Ltd.. £159,333; cash, £8725. There is no dividend in prospect as yet from Puket Tin Dredging, Ltd., it is stated.