AUSTRALIAN ITEMS

Auckland Star, Volume LXXIII, Issue 114, 16 May 1942, Page 3

AUSTRALIAN ITEMS

Net profit of General Motors - Holden's. Ltd., Sydney, for 1941, shows a further heavy decline at £255.241. It compares with £451,190 for 1940 and £703,650 for 1939. The profit is reached after allowing £143,932 for depreciation, against £142.509 for 1940. Taxation provision is not disclosed. Ordinary dividends paid during the year amount to 15 per cent, requiring £262,500. This is a reduction of 5 per cent. Six per cent preference dividend requires £33.696. Remaining balance is £33,547. against £74,502 brought forward. TRUST FUND INVESTMENT Because of national security legislation and the ever-increasing volume of restrictive regulations, difficulty of finding suitable avenues for investment of trust funds are becoming intensified, Mr. J. Mackinnon. chairman of Union Trustee Co. of Australia. Ltd.. said at the annual meeting in Melbourne. The field was now so circumscribed that Government loans at a low rate of interest were almost the only available form of investment. This, and increased taxation, pressed heavily on beneficiaries and afTected the income of the company. A SSOCI ATE I> N E WSPA PE RS Associated Newspapers. Ltd.. announces interim half-yearly preference dividend of per cent. Last year interim dividend was 3 per cent, on both preference and ordinary shares, and final dividend of £2 8 6 per cent made £5 8 6 per cent for the year on both classes.