COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 286, 2 December 1936, Page 4

COMPANY AFFAIRS.

TRADERS' FINANCE. INCREASED PROFITS. A marked increase in trading is reported by the directors of the Traders' Finance Corporation for the year ended September 30. Before (providing for income tax and directors' fees the profit is £7796, against £4988 last year and £2463 in 1934. .Liberal provision has been made for contingencies, it is stated. Income tax provision requires. £2477, against £1079, and directors' fees £090, against £4l>o. With £582 brought forward there is £5401 available. A year s preference dividend absorbs £1908 arid the directors recommend a dividend at the rate of 4 per cent on ordirfary shares on the amounts paid up. This requires a further £2297, leaving £1196 to be carried forward. Following is a comparison of the corporation's results and appropriations: — 1034 19:15 1930 £ £. £ Brought forward 415 410 ♦Profit 1,914 3,u09 , 4,819 f-jJjIS £2,324 £5,401 D Pref" d 5 — 3-5 p.c. .. 1,908 1,908 1,908 Ord.,' p.c — ri o ,i Amount — 1,430 Carried forward 410 582 1,196 ♦After deduction of income tax anil directors' fees. Balance-sheet. - Chief items in the balance-sheet are ao follow: — LIABILITIES. £ _ I'aid capital Sundry creditors Deposits National Bank Geueral reserve ">'-177 Income tax ASSETS. £ •Freehold (Newmarket) ■w'm-: Farri. stock, ctc. -ia'imm Shares in subsidiaries r»r£> Loan accounts •••• - Ll '^' l J {y Advances Sundry debtors Cash 11 Total assets £21h,000 ORIENT SHIPPING. YEAR'S RESULTS. LONDON, November 30. The Orient Steam Navigation Company, after bringing £200,000 iroin general leserve, has a balance of £174,/(to,-whence preferences are paid, and ordmaiies a dividend of 5 per cent free of tax. £40,461 is carried forward. Ihe conversion iioin third class to tourist class of the Orontes, Orford and Oraina cost £156,382. 11ns ls debited to the present account. QUEENSLAND INSURANCE. SPECIAL JUBILEE BONUSES. The Queensland Insurance Company, Limited, Sydney, shows a profit for the year ended September 30 of £116,153, compared with £108,173 in the previous year., Dividend is maintained, as already announced, at 8 per cent, and requires £60,000. There is also a special jubilee bonus of £15,000 to shareholders, which is 2 per cent on the shares, and a special jubilee bonus to the staff of £5000. In addition, £25,000 is transferred to reserve fund, making it £325,000, and £5505 to the staff provident fund. These appropriations leave £40,453 to be carried forward, against £34,805 brought in. Premium income shows an increase of £43,843 to £541,736 and interest and rents are £2*211 higher at £66,866. With the increased premiums there has been an increase of £23,624 in losses to £268,948, and other charges have expanded by £4330 to £182,072. Taxation required £21,429, a reduction of £9878. Paid capital is £750,000. GORDON AND GOTCH. INCREASE IN DIVIDEND. The directors of Gordon and Gotch (Australasia), Limited, Melbourne, wholesale dealers in publications, are recommending a dividend of 8 per cent per annum on preference shares and 12 per cent per annum on ordinary shares for the half-year ended September 30. This makes the distribution on ordinary share capital for 12 months to September 30 at the rate of .12 per cent, which compares with an ordinary dividend of 10 per cent in the previous three years.