COMPANY AFFAIRS.

Auckland Star, Volume LXIX, Issue 285, 2 December 1938, Page 6

COMPANY AFFAIRS.

BRITISH TOBACCO. DIVIDEND UNCHANGED. TEX PER CENT FOR YEAR. (By Telegraph—Press Association.) WELLINGTON, this day. The British Tobacco Company has advieed the Stock Exchange Association of having declared a final dividend on ordinary shares of 2 per cent, making 10 per ccnt for the year ended October 31, 1938, also an interim dividend of 2 per cent for 1939. MANAWATU KNITTING. LOSS LAST YEAR. A loss of £166, compared with a net profit of £3703 last year and £5079 in in.'ili. is shown in the fifth annual accounts of Manawatu Knitting Mills, Limited, for the year ended October 21. Full provision has been made for depreciation. The directors state that, in view of the position that had developed early this year, they could not advise an interim dividend and now regret that they cannot, under the prevailing conditions, recommend any dividend for the year. Last year a distriluitiou of 10 per cent was made. The period had proved a most difficult one from a trading point of view and the directors had become very concerned at the excessive imports. During the year a knitting company's plant, for which the directors held favourable prospects, was purchased in Auckland and removed to Palmerston North. The balance brought into the accounts was £4335. from which had to be deducted £246 for staff bonuses and £1366, which represented a further income tax assessment. This had been paid under protest and was being disputed. After allowing for the year's loss, £2556 remains to be carried forward. Shareholders' funds at £44,092 compare with £47.370 a year ago. Bank indebtedness has risen. £3215 to £12.189. while creditors are £1656 lower at £1898. In assets stocks are down £8582 to £25,063. R. AND E. TINGEY. (Bv Telegraph.—Press Association.) WELLINGTON, this day. The Stock Exchange Association has rpcei v>«] ad vice that Messrs. R. - and E. I Tin gey and Company are paying- an interim dividend for the half year elided September 30 of 3 per cent.