COMPANY AFFAIRS.

Auckland Star, Volume LXIX, Issue 224, 22 September 1938, Page 8

COMPANY AFFAIRS.

TOOHEY'S LTD. DIVIDEND STEADY. LARGER PROFIT. Grose receipt* and net profit o Tooheys, Limited, for the year ende July 31 were the highest since 1929 a £780.887 and £151,973 respectively. In the previous vear the net profit wa £120.137, and receipt* £667,744. The capi tal was increased by £140,00 C during th year just ended. Dividend has been maintained at 9 pe cent, and requires £131,905, so that afte transferring £10.000 to reserve and £500 to officers' provident fund, £27.002 is ca: ried forward against £21,934 brought int the accounts. Paid capital, is increased to £1,540.00 and reserve fund to £805,000. Tooheys Standard Securities, Limitci the funds of which are advanced t Tooheys. Limited, shows a net profit c £41,250 for the year ended July 31, whic is the same as the profit disclosed fo the previous year. Dividends of 5V6 per cent on the prefei ence and A preference shares absorb th whole of the profit. Capital is £762,500, of which £12,500 i ordinary, held by Tooheys, Limitei £300,000 preference, and £450.000 A pr< Terence. The amount advanced to Tooheyi | Limited, as at July 31 was £791,2* against £790,563 a year before. DUNLOP PERORIAU. BALANCE-SHEET FIGURES. Full accounts of the Dunlop Perdria Rubber Company, Limited, for the yea ended June 30 confirm the profit c £414,597 announced in a preliminary stat< inent by the directors. This figure i £4835 higher than that of the previou year, and exceeds that of £411,630 show in 1929, the year following the amalgams tion of the Dunlop and Perdria u con panics. The 10 per cent preference div dend takes £93,000, and ordinary dividem unchanged at 7 per cent, requires £203,59. It is proposed to transfer £60,000 to ger eral reserve. The company's profit on trading, intei est, dividends on investments, iucludin those received from or since declared b subsidiary companies, and miscellaneou receipts, amounted to £1,051,792 (£991,93 in the previous year), and expenses an all other charges took £637,195 (£389,374; Following is a comparison of the cor j solidated assets and liabilities of the Dur lop Perdriau Rubber Co. and its subsiu aries at June 30: — 1930. 1037. J93S. ASSETS— £ « tC Fixed 2,402.670 2,332.720 2.287.02 Current .... 2,822.210 2,895.080 8,032,07 Investments. 6,240 0.240 f.,24 Goodwill .. . 613,760 635,100 632,24 Factory suspense .... — 43,620 56,31 LIABILITIES— Capital 4,695,555 4,695,555 4,095,55 Surplus and reserves . . 519,280 572,260 630,39 Interest o t out side shareh'ld'rs 198,310 222,480 222,49 Current 1 i aliilities and provisions. 431,740 422,470 466,13' GEORGE FARMER, LTD. PROPOSED CAPITAL RETURN. The directors of George Farmer Limited, have decided to call shareholder) together to consider the return of th< I £60,000 of 8 per cent preference capital ■ with preference dividend up to the dat( of. pay meat. At the annual meeting last week chairman (Mr. Arthur Phillips) said thai nearly all the preference capital wai liquid, and the company was paying 1 per cent on it while it was earning les> than_ half this amount. "Obviously thii position cannot continue," he continued "The directors have fully considered thi position and have inquired into what direction the capital can be used. As an example, they have inquired into the export trade. All avenues, however, ar« attendant with considerable risk, and the directors do not feel that they are entitled to use this money which shareholder* have put up as a fixed investment for anyhazardous undertaking." CLAYTON, ARNOLD AND CO. The annual accounts of Clayton, Arnold and Company for the year ended August 31, show a net profit of £1182. The amount available for distribution is £864. The directors recommend payment of dividends at the rate of 8 per cent on ordinary shares and 6 per cent on preferences, a transfer of £50 to general reserve and applying the balance of £193 in the reduction of preliminary expenses. During the year the balance of the share capital was subscribed, and it now stands at £20,283.