COMPANY AFFAIRS.

Auckland Star, Volume LXIX, Issue 127, 1 June 1938, Page 4

COMPANY AFFAIRS.

TODD MOTORS CORPORATION. PREFERENCE SHARE ISSUE. The preference sTiare capital of Todd Motors Corporation, £250.000, at 6 per cent, wii! require £15.000 per annum to meet the preference dividend. It is therefore interesting to review the combined profit and loss figures, after providing for all expenses, but subject to income tax, of Todd Motors, Limited (which, prior to incorporation in 1931, traded as Todd Motor Company) since 1926. and Todd Motor Industries, Limited, since its inception. This shows an averace annual profit of over £34.114 for thirteen years:—l 926. £16.767; 19">7 £20.090: 1925. £36.549: 1929. £62.554;' 1930, £ 13.565; 1931, £12.237* 1932. £6,394*; 1933. £7.454; 1934, £24,661; 1935. £10.95 i (Todd Motor Industries. Ltd., established this year); 1936. £84.775 (includes £35.66S deferred profits): 1937. £110.273: sis months only to March. 1938. Todd Motors, Ltd.. £61.826. Todd Motor' Industries, 12 months. £12.347, total srr.md total.- £462.115; *Icss losses, £ 1*5.631; total for 12% years. £443,454; average per annum over £34,114. NATIONAL MORTGAGE COIV^PANY. STEADY DIVIDEND RATE. The National Mortgage and Agency Company of New Zealand. Limited. London. has announced an interim dividend at the rate of 5 per cent per annum for the half-year ended March 31. 1938. payable in English currency on July 1. The rate is unchanged. DIVIDEND RATE UNCHANGED. (By Telegraph.—Own Correspondent.) DUNEDIN, Monday. A profit of £5793 is shown in the annual accounts of the Perpetual Trustees Estate and Agency Company of New Zealand, Limited, for the year ended April 30. The available balance is £0338. which, the directors recommend, should be dealt with as follows:—To payment of a dividend of 1/ per share for the half year ended on April 30. £1250: to writing off premises, £234: to writing off office furniture and fittings, £210: to staff benefit fund contribution. £500; to carry-forward to next year (subject to incomc tax for the year just ended), £4141. 1 lie profit compares with £5864 earned in 1036-37. and £60r,5 i n 1035-36. The year s dividend is unchanged at 2/ a share of IS/, equal to 11 1-9 per cent.