COMPANY AFFAIRS.

Auckland Star, Volume LXVIII, Issue 23, 28 January 1937, Page 4

COMPANY AFFAIRS.

AUCKLAND GAS. YEAR'S PROFITS LOWER. HIGHER TAXES AND WAGES. Lower profits were earned by the Auckland (jus Company during the year ended December 31, 193b , . The directors' report states that the profits, after deducting working expenses, rates and taxes, depreciation and other charges, amount to £67,734. Added to this the carry-forward from last year, £8970, gives a total of £76,704 at the credit of profit and loss. The interim dividend paid accounts - for £30.037 of this, leaving a balance of £4j,70"7 to be dealt with. From this £5000 is transferred to the income tax reserve account, and the fiqal dividend of 2% per cent now recommended will absorb £30,f)37, having the sum of £9531 to be carried forward. The retiring directors, Messrs. J. A. Peacock and V. J. Lamer, offer themselves for re-election. The working account reveals an increase in sales which are £1j,38j higher at £414.589, and slightly lower interest charges. Against this working costs, salaries, and rates and taxes are substantially higher. Main items in the company's accounts for the past three years are compared below: — 1034. 1033. 1936. « '- £ Brought forward 1,n74 2.203 8.!l"O JS>t profit RS.OOIi 78.1540 07,734 £ (>fl,O7<; £ 80,843 £ 78.704 Income tax reserve 3,000 — 0,000 Dchnituro rrserve — 10,000 Dividend, 5J p.c. 61.873 61.873 01.573 Carried forward. £2,203 £8.070 £9,831 BANK OF NEW SOUTH WALES. 1 QUARTERLY DIVIDEND. (By Telegraph.—Press Association.) WELLINGTON, Wednesday. The directors of the Bank of New South Wales have declared a quarterly dividend of 6/ a share, payable in Auetraliau currency, on February 25. The distribution, which is for the firet quarter, ended December 31, of the current financial year, is unchanged. A dividend at the same rate wae paid in the previous quarter, ended September 30,, 1933 and thie, with three previous quarterly payments of 5/ a share, made the total distribution for the year 21/ a share, or SM. per cent, against 5 per cent in the previous year.