COMPANY AFFAIRS

Auckland Star, Volume LXXII, Issue 272, 17 November 1941, Page 3

COMPANY AFFAIRS

WESTPORT CO All KESLI/I'

*i_ have been well maintained bv ' | the Westport Coal Company, Limited, the i ?£ t ,_ fi ? ure for the year ended September f-30 being £23,020, compared with £23,194 m 1940, after allocating £1000 for staff provident fund. The dividend, the same last year at. 1/ a_-.share, requires £22,500, leaving the carry-forward at ! £15,005, against £14,485 brought in. A j new item in the balance-sheet, total i figures of which are £2116 lov«er at I >£584,697, is War Loan stock totalling I £27,600. Insurance fund stands at i £125,680, a rise of £2564, and contingency 1 reserves amount to £148,926, up £1032. Results for the past three years are:— 1939/ 1940. 1941. Brought forward .. 13.552 13,781 14,485 Profit 22,739 23,194 23,020 _. „ 35.291 36,985 37,505 Div. 10 &JC. p.a. ... 22,500 22,500 22,500 Carried forward ... 13,791 14,485 15,005 [ BROKEN HILIi COMPANY TAXES I

Details of the tax payable by non-resi-dents of New South Wales with holdings in-the Broken Hill Proprietary Company, Limited. North Broken 'Hill, Limited, and South Broken Hill, Limited, have been announced by the Melbourne Stock Exchange. The tax is payable on an apportioned amount of the dividend, according to the extent to which the company's profits are earned in New South Wales. It is at the rate of 6d if the aggregate amount of dividend subject to tax received by the shareholder for 12 months does not ! exceed £200, and the shareholder is a resident of Australia other than New South Wales. Otherwise It Is 1/ in the pound, or, if the dividend is paid to a company, the rate is 3/6. No deduction will be made from dividends payable to a New South Wales resident. If shares have been sold cum dividend and delivery is not made until after the. closing of transfer books, the buyer is only entitled to deduct the net amount of dividend, less tax at the minimum rate. Pending advice of this net amount, settlements between brokers may proceed on the basis of the full rate of dividend, and the buyer will subsequently he required to make a refund to the seller. On the Broken Hill Proprietary dividend of 9d a share, the tax will probably, amount to about 1/6 for 100 shares. '

UNITED INSURANCE YEAR j United Insurance Company, Ltd., shows I a profit of £52,364 for the year to Sep- I tember 30, compared with £46,627 for | 1939-40. Dividend remains at 9 per cent i requiring £40,500. ' • It is proposed to transfer £6000 to ! contingent account and £5000 to staff ' provident fund, leaving a carry forward • of £9,824, against £8960 brought forward Net premiums increased by £25,588 to £373.692. and interest and rents (less ' taxation) by £1577 to £30,482. Losses were £7325 lower at £189,435, and expenses, including taxation, £28,753 higher at £172,375. 1 ——— 1 AMALGAMATED WIRELESS | Revenue of Amalgamated Wireless I (Australasia). Limited, for the year ended j June 30, increased by £66,528 to £870,197. : As expenses, including taxation and depreciation (the latter charge being £24.120 higher at £104,032), rose by £66,718, net 1 profit of £133,089 is practically unchanged. It compares with £133.279 for 1939-40. Dividend is steady at 10 per cent, and requires £90,511. Transfer to reserve is £50.000, and £30.831 is carried forward, against £38,252 brought forward.