COMPANY AFFAIRS.

Auckland Star, Volume LXVIII, Issue 29, 4 February 1937, Page 4

COMPANY AFFAIRS.

UNION BANK. NET PROFIT AGAIN HIGHER. Accounts of the Union Bank of Australia, Ltd., for the year ended August 31, show that net profit is higher by £25,820 than that of the previous year, which in turn was proportionately higher than that of the six months ended August 31, 1934. Up to that date the accounts were closed as at February 28 each year. Dividend of 5% per cent compares with 5 per cent per annum the previous year, and requires £220,000. Half-year Year i-nd«>rl riKlorl Au?. 81. Aug. 31. li>34. 1035. 1936. £ £ £ Net proßt .. . 106,998 214,984 240,800 Dlv., p.c, p.a. .5 5 5J Dlv.. amount . 100,000 200,f>00 220,000 Forward 111,030 126,015 146,815 The accounts for 1935-36 show that gross earnings increased from £1,034,000 to £1,101.000, but expenses have risen from £664,100 to £686.300. Taxation has also risen from £155,500 to £174,000. Advances, including bills discounted, loans, and other securities have risen in twelve months by £656,000 to £32,129,000. On the other hand, deposits have risen by £937,000 to £34,419,000. FURTHER SELFRIDGES ISSUE. Sclfridgee (X.Z.), Ltd.. which laet week announced a heavy oversubscription for (he iesue ot 67,150 new eharee; is offering u further issue of 85.000, pf which the parent company, Selfridges (Australasia), m to take 42,500. The remaining; 42,500 are being offered to thoee shareholders to whom shares in laet week's issue were allotted.