OMPANY AFFAIRS

Auckland Star, Volume LXXII, Issue 291, 9 December 1941, Page 3

OMPANY AFFAIRS

WILTON COLLIERIES' YEAR decreask in production In presenting the seventh report and accounts at the annual meeting of "Wilton Collieries, Limited, to-day, the chairman Mr. Hendry Luke, said the affairs of the company were in a very satisfactory posiThe .vear had been difficult, the outof 7nnn^^° Wn to , 90 ' 000 tons - a decrease of 7000 tons on last year's output. The lope road to the new mine had been completed. This was a difficult job owing to the wet winter, but would open up a large area ot good coal. p balance-sheet showed a profit of £9029. of which £5800 has been set aside man m ShnrphnW Purposes, added the chairwas ' a waft?nl" S " oul Z reali se that coal was.a wasting asset and he felt that all ister C of ll Ffn-inpf> S ' lol th l a PP roach the Minjertain wlth t ? e re «uest that a annuallv ?« of money should be set aside c°a™i >an orde? lant fiTst 8 - materials had been laid' in to° provld^for hart beeif soonS" tll<! ™™" te in Th tU eP SrL and bai £>nce-sheet (published Star on December l) were adopted, including the recommenditinn ?of p FH °i 3 s Messrs h S retiring directors, .-o if" Isllenv °o<J and A. Crura Here re-elected unopposed.

WHITTOME STEVENSON'S YEAR a „9 r °? s Profit of Whittonie, Stevenson •filo , t Com Pany, Limited, is shown in the ? cc ° "nt sat £15,505, compared with rf-s'o ?i year, but after writing off providing" r iS' , for depreciation and thl nro [* for taxation against the previous year, there \va<? a n*at $964 thi " 98 °- This' compared \"th £1964 the previous year. The dividend took W ns4™ aint H ai^ e t d at 6 per cent - w hich flo^,^i B l°, and left £135 to add to the ward Fi99- ~m ag the carry-for- = t2, °\ Flx< J d assets (£20,295) show stoclcs /e2O 9q"\ £345 - At balance date pvtra were £3499 higher, an 4 lin WaS f arried ln debts Ufaoß3), and an investment of £586 in War Loan appeared. Current liabilities rSlo* £4595 to £9333. Reserves total £4225, against £4090 last year. HUME STEEL EARNINGS Hume Steel, Limited, report a net profit of £61,240 for the year ended September 30, before providing for taxation. K a , st n J e ? r Jhe profit, after providing £31,000 for taxation, was £29,810. The directors recommend a final dividend of 3j per Cent on preference shares (unchanged), but in view of heavy tax requirements it is* not proposed to pay a dividend on ordinary shares. Last year the dividend on ordinary shares, which are held by the Hume Pipe Company, Limited, was 2 J per cent.