COMPANY AFFAIRS

Auckland Star, Volume LXXII, Issue 187, 9 August 1941, Page 4

COMPANY AFFAIRS

AIR TRAVEL (N.Z.) RESULTS Air Travel (y.Z.), Ltd., earned a net profit of £1377 in the year ended June 30, 1941, and the directors recommend a dividend oi 6 per cent, absorbing £390. Credit baJancp in the appropriation account, including the balance of £220 brought forward from last year, was £1598, from which £ 7 10/ was provided to write off balance of income f.ax for 1910, £437 transferred to taxation reserve, and £500 transferred to insurance reserve. The remaining balance of £633 provides for the dividend and leaves £263 to be carried forward. Net profit lust year was £1297, and the dividend was 5 per cent, absorbing The directors report that 2370 flights were made during the year, occupying 2631 flying hours. Passengers carried totalled 3716. freight totalled 22 tons, and mail 16.2 tons. Decreases were shown under all these headings, except freight, lrom the figures of the previous year. These are attributed to the ilifficult conditions brought about by the war. KIRKCALDIE AND STAINS, LTD. Kirkcaldie and Stains. Limited, drapers and importers, Wellington, earned a net profit of £14.301 in the year ended February 25, against £13,140 in 1939-40. No dividends were paid, "in view of the disturbed trading conditicns created by the war, and the heavy demands on the company's funds for taxation." FINANCE CORPORATION ASSETS i A report submitted to shareholders of the Finance Corporation of New Zealand. Limited (in liquidation). Hamilton, by ihe liquidator, Mr. M. M. Shaw, estimated that, after liquidation of the balance of the assets and the repayment of ordinary share capital, there should be a surplus of £9000. So far assets valued at £54,097 had been liquidated, most resulting from realisation o the Strathmore Estate, of 10,000 acres, in the Taupo district, which is to be converted into a soldiers' settlement.