COMPANY AFFAIRS.

Auckland Star, Volume LXIX, Issue 219, 16 September 1938, Page 6

COMPANY AFFAIRS.

BARTHOLOMEW TIMBER. SLIGHTLY LOWER PROFIT. DIVIDEND UNCHANGED. The annual accounts of Bartholomew Land and Timber Company for the year ended July 31 .show net profit* at £2000. This, with the balance forward, after payment of an interim dividend at the rate of 2M> per cent, leaves a credit available for appropriation of £6387. The directors now recommend payment of a final dividend of -Vs per cent, alraorbing £1250. leaving a balance to be carried forward of £;3137. The report states: —

"The rpduceil demand experienced last year continued for the first half of this year, but during the latter half of the year there was an increased and steadier demand for timber. Particulars of the Government rural building scheme are now awaited, and when this i« in operation a more balanced demand tor the cut of the lok should result. Plant, machinery and tramways are in good order, and accommodation at the mill and bueli has been improved. "The directors record with profound regret the death, in June last, of Mr. A. H. Tompkinn. chairman and managing director of the company since its inception 33 years ago. They have placed on record an appreciation of the outstanding services rendered by him over this long period. Mr. ('. Siitcliffe was appointed general manager of the company, and Sir. E. C. Day was appointed to fill the vacancy on the directorate. The director to retire by rotation in Mr. E. C. Day and he offers himself for re-election." Balance-sheet Items. Chief items in the balance-sheet, compared with tlm«o of the previous year, are as follow:—

Xet profits in recent years liave been- — 934, £2240: 193.5, £2776: 1936, £.W 37, £2709; 1938. £2606. The years 103 l', IKB and V.m recorded loaaes. lhe dividend at 5 per cent k unchanged. MARTHA COMPANY. LOWER INTERIM DIVIDEND. CahW notification lias been received by -'J'"- K ' (; ; Milliftaii, local director and attorney of the Martha Gold Mine Company, tnnt the directors have declared an interim dividend of ninepenee (ftd) per share, free of income tax, payable on l°TosdL %. * harehoW - s «*-t«ed The rate is a .reduction on that paid since the inception of the company and tor ninny years previously by the Waihi t»oi(i .Mining Company, namely 1/ per share or 2/ per annum. ' y

MARIMTIKS. Compared with lust year. € £ Paid capital nn.ono Siime K<*«erv«. 10.(100 Same I'iro Insurance reserve 800 + 350 MortRiiKe 3,447 —121 Hunks 4<j.j Creditors anil Income Tax Reserve . . 2,734 —1372 ASSETS. C rn I 1Prt - r 31,(Hit —<»3S Hush Rights 1.580 —1.!»R0 KtilldfngH an<1 riant '.'. lli.'.'i.sil ~4o J»« iiixl Tlniher Stocks (! r>33 34 Siil)si,li.ir.v C.I. Slum's -j',744 Samo M'>rtj;aj.'cs s,«43 —2.17 Sundry Debtors ii.nia +7!t3 ( -' ash l'.2!»0 +1.K74 Total Assets .. 73.8(j» —f.32!)