COMPANY AFFAIRS

Auckland Star, Volume LXXII, Issue 280, 26 November 1941, Page 3

COMPANY AFFAIRS

MANAWATU KNITTING YEAR IMPROVEMENT CONTINUES The accounts of the Manawatu Knitting Mills, Limited, show a net profit, after providing for depreciation and taxation, of £4808 for the year ended October 17, compared with £4805 last year and a loss of £1660 in 1939. As previously announced the final dividend proposed is 7 per cent, making 10 per cent for the year, unchanged. This absorbs £2500, and £1500 has been transferred to reserve, leaving £4009 to be carried forward, against £3201 brought in. The report states that during the year the land and buildings in which business is carried on were purchased for £6250, which had been paid in cash. The sum of £4500 had been subscribed to the war loan maturing in 1951-54. Taxation totals £17,850, compared with £16,820 last year. Gross profit amounts to £32,294, against £31,831 last year and £5975 In 1939. Items on the assets side, with corresponding figures for 1910 in parentheses, are:—Buildings, plant, etc., £20,284 (£15,087); stocks, £29,701 (£21,463); debtors, £13,214 (£14.764); investments, £11,270 (same); bank, £2208 (£7546). Liabilities: Capital, £25,000 (same); reserve, £18,035 (£16,535); taxation reserve, >£24,487 (£17,037); creditors, £8136 (£7117). Contingent liability: £999 (same). The balancing total is £81,418, an increase of £10,777. BEID RUBBER DIVIDEND The directors of Reid (New Zealand l ) Rubber Mills, Limited, will recommend at the annual meeting an December 17 payment of a dividend at the rate of 7 per cent per annum on the amounts from time to time l ' paid up on the several classes of shares. As the moneys accepted in advance of calls carry interest up to the due date of the call, such payments will rank for dividend only from the due date of the call. Last year a dividend of 6 per cent was paid. LEVI,AN D O'BRIEN MEETING

Payment of a dividend of 1/ a share (free of taxes) was authorised at the forty-fourth annual meeting of the Leyland O'Brien Timber Company, Limited, to-day, at which the chairman, Mr. C. V. Houghton, presided. The retiring directors, Messrs. J. Thornes and A. Leyland, were re-elected, and the report and balance-sheet, published in the Star on November 14, were adopted. NATIONAL ELECTRICAL The directors of the National Electrical and Engineering Company, Limited, recommend an unchanged dividend of 6 per cent.